This is crazy on this accuracy of peaking or breaking through, or even touching on these Fibonacci Retracement levels. This is all explained in the 31 minute video. I can see why people may rely exclusively on this indicator. Just remember I am maintaining those ways on how to get on the watch list. This includes most potential with Bitcoin!
If this works out , I am sure this could generate signals for my revamped Analytics service. Oh! Did I say I will be raising from the lowest price of $47 per month!
I have posted 2 new videos to showcase the power of my new charts. I will send out the details of the second video tomorrow.
New online chart of Fibonacci entry exit stop loss take profit targets
This is a brand new set of chart(s) to measure positions management using daily data from both Binance and Oanda the forex broker. This seems to work ok on CFD and crypto. There has been little movement in the world of crypto currency but it has potential as this asset class has moved up in value.
I have also set this Monday on a topic that maybe of interest to a few select number of people.
My experience with many online charting packages was not good. Find out why. One hint is that Javascript is a a pure pain to work with. This will be streamed live on my Youtube channel atYoutube.com/quantlabs
I have scheduled this to be live on Monday Nov 12 at 7 PM EDT. There will be no video playback of this since I will make it part of my Python Algo Trading course which will help for potential algo traders.
IMPORTANT! This list will shut down in coming days!
I will be closing down my MailChimp account in the coming days. This means it will no longer be valid as I am porting only the active folks to my new Infusionsoft account. If you want to carry on with my learning of development in algo trading, please visit one of these two links to get signed up to my Infusionsoft CRM list.
This is brand new set of chart(s) to measure positions management using daily data. This seems to work ok on CFD and fore. There has been little movement in the world of crypto currency but it has potential as the asset moves up in value.
Working on this automation code for a watchlist for both entry and exit. This includes monitoring for open positions.
The steps
#***watchlist for entries
#query for watchist
#iterate through based on each stock pick combo (from report) with no open positions
#use parameter to meet condition of market order
#if met, put position and flag combo as open position since it is put on (check rick management using tool like Kelly Criterion)
#****watchlist for exit
#query for open positions
#iterate open positions where ATR needs to be met in order to close/exit
It is so stupid easy but it all comes down a simple metric. The only issue is you cannot get to greedy but statistically you should be able to make more money with it consistently without less risk. I am hoping to make more videos on this in the near future once i can figure it out.
Other indicators used
I have tried many of them including Average True Range (or ATR) . I also tried Simple moving Averages with fast vs slow lines.
Check exit on ask or bid during bar event in algo trading
Question for someone in my Telegram group but this is a influential person so thanks to them
When I check for an exit, I am using bar events (onBar) for each FX pair.
When I check for price action on the price, should I be using ask bar or bid bar close? Or should I use the corresponding mid point of the ask or bid bar?
You buy at the ask and sell at the bid, so the most natural way to handle it is to exit long trades at the bid, and exit short trades at the ask. Alternatively you can use the mid price, but it is really just a matter of preference.
What are various forex trading exit strategies exist
As I did into this positions manager and weed deep in the Dukascopy API Java Docs, I can see so many opportunities to really do well in the forex markets. Anyhow, I will reveal what I have learned in an upcoming extra long video when it becomes ready. This will be the most valuable I can give but I will give this window of opportunity only a few days.
Another gem topic was posted on my Facebook Group which revealed some great learning lessons for exit strategies. Check it out in this video below. Also I have posted the answers here.
What are various forex trading exit strategies exist
This was posted on my various Facebook outlets
Who is interested in sharing their exit position strategy? What technical analysis indicators do you use? I hear MACD and RSI is most popular combo. I know there is a possibility of using a standard deviation in normal distribution stats as well some form of correlation between convergence/divergence of 2 asset relationship. Let me know if you can with your parameters well. Big thanks
Here are the various answers:
In my experience, using indicators only delays your entry and exits. Personally, I use only Bollinger Bands and that’s all you need but I’ll keep the rest of my strategy a secret if I may!! (still finalising it actually).
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Can use a ATR stop loss. 1.5 -2 ATR. Some use SAR too.
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Can also consider to use swing lows to exit
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Hey Bryan, in my experience , RSI and MACDs (I only use those 2) are only supplementary. I use the best indicator of all: price. Price action is the best . The rest are price’s derivatives. In a nutshell, I use price patterns, trend-lines, horizontal and diagonals. And if it applies I use Fibonacci levels (0.618 and 0.382, +1) . I hope it helps
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As Collin says ATR are good for stop loss or profit taking if you r a day trader . Trading in general depends on your trader’s profile
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I use stochastics if I believe it is a “range market” and if price is forming a range
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This is the Crude chart: https://stocktwits.com/IsaacFigueroa/message/92924489
$USOIL Crude is playing with us again (overfollowed) $DWT $UWT $ERX. TA can save you headaches $USO
STOCKTWITS.COM
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And this is a simple strategy for swing trading https://stocktwits.com/IsaacFigueroa/message/92939592
IsaacFigueroa shared an idea on StockTwits
@bertrandmth Bullish: 51.5 -52 . Bearish: 43.5 – 44. I have no position, I will wait for tomorrow @10:30 am
STOCKTWITS.COM
For stop loss standard deviation or ATR. Profit target depends on the strategy objective.
RSI + price and rumours/facts seems to work OK with Crypto…. For an amateur.
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I would be very sceptical about RSI used as an exit strategy because the RSI is a momentum indicator, and why to exit when the market gains a momentum? On the other hand exiting when RSI losses the momentum could be a way to go, BUT RSI is logarithmically scaled indicator so any small retracement in price will look as a huge slowing down of a RSI momentum -> and why to exit just because of a small retracement in price? big nono.
I did exactly what your second paragraph says in my Bachelors work. StdDev and two currency pairs correlation. The problem is that the returns are not normally distributed and so during the summer holidays, a 2 sigma worked best, but during U.S. election the 3 sigma performed best at backtests. If you can predict the volatility, you can then adjust those parameters, but I can’t predict that :/ I tried to use the Hurst Coefficient as it seemed most reasonable to adjust the x-sigma exit strategy and the results were a way better.
Anyway, always the best exit strategy was the ISSL which stands for Industry Standard Stop Loss, for more information visit http://www.forexmospherians.com, it is all there 🙂 Hope it helps man.
http://www.forexmospherians.com/
I have misled on the title of this webinar topic. Since few attended on the original topic, I decided to focus on two visitors which turned into more benefit than I could imagine. Yes this video is 4.5 hours but worth everything minute. This covers:
First hour conversation topics with NYC experienced software developer in financial services:
How NYC financial companies like hedge funds and investment banks pretty well use Python
Popularity of events based on machine learning/AI
How financial service companies use correlation in real time markets to find market opportunities
How studying stochastic trumps other analytical techniques is used in NYC firms
The right and wrong approaches used by NYC firms with machine learning
Balance of video covers:
How Tradestation has dumped FX which has been handed over to Oanda (LOL!)
How American politics of Trump impacts markets
Understanding the advantages of FX broker like Dukascopy offers
Real time analysis of how an event calendar is literally screaming at your with multiple daily market opportunity
How analysis of FX volatility will maximize your trading opportunity
Proper risk metrics/analysis/management etc minimize your drawdowns
