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Daytrading - How to make a profit

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Re: Daytrading- How to make a profit


Hmmm I typed out a long reply and somehow deleted it I'll have to come back to this, but here is the code

/* wayneL's Daytrading Template - To be plotted on intraday charts */

GraphXSpace = 1;

/* This plots the price bars. Select whether you want candlesticks or ordinary bars via th "view" menu */

_SECTION_BEGIN("Price");
SetChartOptions(0,chartShowArrows|chartShowDates);
_N(Title = StrFormat("{{NAME}} - {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g, Close %g (%.1f%%) {{VALUES}}", O, H, L, C, SelectedValue( ROC( C, 1 ) ) ));
Plot( C, "Close", ParamColor("Color", colorBlack ), styleNoTitle | ParamStyle("Style") | GetPriceStyle() );
_SECTION_END();

/* The following three codes are the exponential moving average flippers. These can be deleted or modified to suit */

_SECTION_BEGIN("10EMA Flipper");
mov = 10;
hi = EMA(H,mov);
lo = EMA(L,mov) ;
x1 = IIf(C>Ref(hi,-1),1,IIf(C<Ref(lo,-1),-1,0));
x2 = ValueWhen(x1!=0,x1,1);
st = IIf(x2==-1,Hi,Lo);
Plot(Ref(st,-1),"",colorYellow,styleNoLine|styleBar|styleNoLabel);
_SECTION_END();

_SECTION_BEGIN("20EMA Flipper");
mov = 20;
hi = EMA(H,mov);
lo = EMA(L,mov) ;
x1 = IIf(C>Ref(hi,-1),1,IIf(C<Ref(lo,-1),-1,0));
x2 = ValueWhen(x1!=0,x1,1);
st = IIf(x2==-1,Hi,Lo);
Plot(Ref(st,-1),"",colorWhite,styleNoLine|styleBar|styleNoLabel);
_SECTION_END();

_SECTION_BEGIN("34EMA Flipper");
mov = 34;
hi = EMA(H,mov);
lo = EMA(L,mov) ;
x1 = IIf(C>Ref(hi,-1),1,IIf(C<Ref(lo,-1),-1,0));
x2 = ValueWhen(x1!=0,x1,1);
st = IIf(x2==-1,Hi,Lo);
Plot(Ref(st,-1),"",colorRed,styleNoLine|styleBar|styleNoLabel);
_SECTION_END();

/* The next section calculates and plots the dynamic 3 day pivots */

_SECTION_BEGIN("3 Day Pivots");
Hi1 = IIf(Day()!=Ref(Day(),-1),Ref(HighestSince(Day()!=Ref(Day(),-1),H,3),-1),0);
Hi = ValueWhen(Day()!=Ref(Day(),-1),Hi1,1);
Lo1 = IIf(Day()!=Ref(Day(),-1),Ref(LowestSince(Day()!=Ref(Day(),-1),L,3),-1),0);
Lo = ValueWhen(Day()!=Ref(Day(),-1),Lo1,1);
Cl1 = IIf(Day()!=Ref(Day(),-1),Ref(C,-1),0);
Cl = ValueWhen(Day()!=Ref(Day(),-1),Cl1,1);

rg = (Hi - Lo);
bp = (Hi + Lo + Cl)/3;
r1 = (bp*2)-Lo;
s1 = (bp*2)-Hi;
r2 = bp + r1 - s1;
s2 = bp - r1 + s1;

Plot(s2,"",colorRed,styleBar|styleNoRescale|styleNoLabel);
Plot(r2,"",colorRed,styleBar|styleNoRescale|styleNoLabel);
Plot(s1,"",colorBlue,styleBar|styleNoRescale|styleNoLabel);
Plot(r1,"",colorBlue,styleBar|styleNoRescale|styleNoLabel);
_SECTION_END();

/* This next section calculates and plots the daily pivots using fibonacci ranges */

_SECTION_BEGIN("Daily Fib Pivots");
Hi1 = IIf(Day()!=Ref(Day(),-1),Ref(HighestSince(Day()!=Ref(Day(),-1),H,1),-1),0);
Hi = ValueWhen(Day()!=Ref(Day(),-1),Hi1,1);
Lo1 = IIf(Day()!=Ref(Day(),-1),Ref(LowestSince(Day()!=Ref(Day(),-1),L,1),-1),0);
Lo = ValueWhen(Day()!=Ref(Day(),-1),Lo1,1);
Cl1 = IIf(Day()!=Ref(Day(),-1),Ref(C,-1),0);
Cl = ValueWhen(Day()!=Ref(Day(),-1),Cl1,1);

rg = (Hi - Lo);
bp = (Hi + Lo + Cl)/3;
r1 = (bp*2)-Lo;
s1 = (bp*2)-Hi;
r2 = bp + rg;
s2 = bp - rg;
r2o = bp + (1.272*rg);
s2o = bp - (1.272*rg);
rh = bp + (0.5*rg);
rl = bp - (0.5*rg);
rh6 = bp + (0.618*rg);
rl6 = bp - (0.618*rg);

Plot(s2,"",colorCustom12,styleBar|styleNoRescale|styleNoLabel);
Plot(r2,"",colorCustom12,styleBar|styleNoRescale|styleNoLabel);
Plot(rh,"",colorCustom12,styleBar|styleNoRescale|styleNoLabel);
Plot(rl,"",colorCustom12,styleBar|styleNoRescale|styleNoLabel);
Plot(bp,"",colorYellow,styleThick|styleNoRescale|styleNoLabel);
Plot(rh6,"",colorWhite,styleBar|styleNoRescale|styleNoLabel);
Plot(rl6,"",colorWhite,styleBar|styleNoRescale|styleNoLabel);
Plot(r2o,"",colorWhite,styleBar|styleNoRescale|styleNoLabel);
Plot(s2o,"",colorWhite,styleBar|styleNoRescale|styleNoLabel);
Plot(s2o,"",colorBlack,styleArea|styleNoRescale|styleNoLabel);
Plot(s2,"",colorPlum,styleArea|styleNoRescale|styleNoLabel);
Plot(rl6,"",colorBlack,styleArea|styleNoRescale|styleNoLabel);
Plot(rl,"",colorDarkOliveGreen,styleArea|styleNoRescale|styleNoLabel);
Plot(rh,"",colorBlack,styleArea|styleNoRescale|styleNoLabel);
Plot(rh6,"",colorDarkOliveGreen,styleArea|styleNoRescale|styleNoLabel);
Plot(r2,"",colorBlack,styleArea|styleNoRescale|styleNoLabel);
Plot(r2o,"",colorPlum,styleArea|styleNoRescale|styleNoLabel);
_SECTION_END();

//--end----------------------------------------------------------------------------
 
Re: Daytrading- How to make a profit

I have just noticed the forum software has inserted some gaps where they are not wanted.

If anyone is having trouble with this I can email the code.

Also I have pivots for longer time frames if anyone wants them,
ie
dynamic 3 weekly
monthly
dynamic 3 monthly

These are the ones I find useful, but you can plot any time frame if you want to....weekly, yearly, whatever.

Cheers
 
Re: Daytrading- How to make a profit

Can I use it with EOD?
My short term system is FUBAR :microwave

Hehehe. Just like a cat! (kidding RSPCA- I know not to dry my cat this way)
 
Re: Daytrading- How to make a profit

Thanks Wayne!

Found those spaces that were inserted.

Off to digest the info..
 
It's Snake Pliskin said:
Wayne,

Lets fire this thread up again.
Click to expand...

I'm game, but I don't want to do live trades, but won't "hindsite trade" either. Purely a look at the action like the charts above.
 
Great thread, only just realised it was here, thanks for reopening snake .

There is a perception that very few people make money, im no judge as to the real number but like most forms of trading, people give up too easily when things go bad, I know I was guilty of this in the past!, but too illustrate, most days I lose, most weeks its 50/50 win and lose, most months I win, 10 out of 12 months this year were profitable.

Cheers

Pager
 

Pager,

Yes the propaganda is so powerful. If only some sheep did what it took to get an understanding.......

Care to contribute some trades?
 
An Interesting blog article from a bloke with a bit of credibility:


http://epchan.blogspot.com/2007/02/in-praise-of-day-trading.html
 
Evening all,

I scalp the spi with a 50 volume chart, and using the 50 cci..
as you can see a safe trade is the x of the zero line of the cci as marked..
I take the trade off at the x of the +/- 100 and wait for another trade if it comes along..but that of course is up to individual traders.. you can take it off at the x of the zero line..

Hope that this is of some help to scalpers.

Have a great evening.

Take care
ac
 

Attachments

  • spiscalp.jpg
    83.1 KB · Views: 315
Shows how far the SPI has come in terms of liquidity. Not THAT long ago, 6 or 8 50 volume bars would have taken you into lunchtime . LOL
 

nice work acouch

Feel free to come and post some more charts/talk to the rest of us punters in the other index threads. Always good to see some more index traders showing up

Cheers
 
Way to complicated for your average joe....

Wayne, how long has it taken you to learn all that?

If you get sick of trading you should start running classes and workshops.

Question I have. How many people lose money doing what you do?
 

AC

very very impressive! cheers for that post.
 
Ken said:
Way to complicated for your average joe....

Wayne, how long has it taken you to learn all that?

If you get sick of trading you should start running classes and workshops.

Question I have. How many people lose money doing what you do?
Click to expand...

Had some fun wins and lots of losses day trading!
 
Ken said:
Way to complicated for your average joe....

Wayne, how long has it taken you to learn all that?

If you get sick of trading you should start running classes and workshops.

Question I have. How many people lose money doing what you do?
Click to expand...

If someone is making good mo. from the markets,why would they want to show others the pitfalls and the better way.Only if to set them up to knock them down maybe.

The more traders in the market, the bigger the takings for the experienced.
New traders beware.
 

LoL,

That is a great conspiracy theory!

Let me tell you, anything I post with a chart is designed to show others what I believe is happening, not to trick them!

I don't agree with you at all, I have received wonderful advice and support from many members of ASF and I am constantly learning from reading members posts.

I bet your a glass half empty kind of guy!
 


I was interested in a reply from ken.I don`t recall whistling.
 
This is a two range chart for the er2..

Entry as you can see, if you miss the first entry, you can get the first retrace the next orange arrow..with the test of the zero line on the 50 cci..


Another example of the 50 cci, and why i take it off at the x of the +/-100 line..orange arrow at the +100, or the green arrow exit at the zero line exit..

Good trades for this evening, nearly my bedtime .

ac
 

Attachments

  • er7.jpg
    87.3 KB · Views: 266
ES..another chart with 50 cci..


ac
 

Attachments

  • es2.PNG
    48.3 KB · Views: 252
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