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Discovering an Effective Trading System
@bettamania, many system traders face challenges in discovering or coding a profitable trading system. Successful trading systems pinpoint opportune moments for entering positions in an upward-trending market. A blend of technical indicators is crucial for this, guiding informed decisions about the optimal times to buy.

Every Trader Wants to Know Three Things
1. What to Buy
2. When to Buy
3. When to Sell

If you can master these three aspects, you're well on your way to developing a successful trader's mindset. Using technical indicators can help define the "favourable conditions" for entries and exits. This is where the journey starts to become more challenging, but also more interesting.

Skate.
 
Finding Simple Indicators to Improve a Trading System
@bettamania, all my trading strategies leverage a variety of technical indicators to help assess market conditions, including:

1. Average True Range (ATR) to measure volatility
2. Support/Resistance Levels to identify key price levels
3. Exponential Moving Averages (EMAs) to analyse trend direction
4. Relative Strength Index (RSI) to detect overbought/oversold conditions
5. Stochastic Oscillator (SD) to identify potential trend reversals
6. Moving Average Convergence Divergence (MACD) to signal momentum shifts

These and many other technical indicators provide valuable insights into market volatility, trend direction, and potential reversal points. Monitoring and interpreting them is a crucial part of my overall trading approach.

Over the years, I've learned that you don't have to reinvent the wheel in this game. Everything you need to be profitable is already out there - you just need to find the right set of indicators that you can consistently work with. While there are countless options available, finding that sweet spot is what will ultimately drive your trading success.

Skate.
 
Captain_Chaza said:
Without having OPENING prices How does your Back testing work on todays GAPS on FMG and SFR?
Click to expand...

@Captain_Chaza, I appreciate that this question was originally directed to @bettamania, but providing my input and a brief explanation can help build upon the discussion.

System trading that utilises the correct combination of technical indicators can sometimes allow traders to effectively "front-run" an impending price increase. This is one of the key advantages of a data-driven, indicator-based approach to the markets.

By identifying the early warning signs of a potential upward move before it fully materialises, traders can position themselves proactively rather than reactively. This allows them to get ahead of the broader market and potentially capitalise on the price surge before it becomes widely recognized.

Of course, no single indicator is infallible, so they should always be used in combination with other forms of market analysis. However, successfully front-running price moves by harnessing the predictive power of indicators is a core tenet of many profitable trading strategies.



Skate.
 
Skate thank you for your explanation. as with Mr Captain here is the pic.

When the signal on ( see the binary wave spikes we prepare the entry limit at tomorrow opening. only trade when we get hit. Once we got hit means we are in trade that is exactly the blue arrow and. the system aims to catch the stop loss and the contrarian to any BO system that you ever know. holding period is medium to long term ( months) . no rush or stress of missing out. actual average win ranges from 15 to 100% the loss is fix 15% each lot. and once we got hit a stop loss exit quickly as this is a semi counter trend and the drop each signals has been calculated precisely so no point of holding on and crying for a loss. My original system comprise of 3 exits not just a trail stop

 
Hi @Joe Blow

Thanks for your reply.
For the stat purposes. there were three posts prior to your post and after mine, I did not get any notification.
After your post there were about 7 posts. I did not get any notification until receiving the one whose screen shot is provided, here I did not get any notification.
I only visited the thread after receiving the last one from @bettamania post no 10,526.
can not explain so handball to you


 
Miner said:
@Joe Blow
Just FYA, I got none of the postings into my mail even I am following this thread. After your post there were about 7 posts. I did not get any notification
Click to expand...

@Miner, I hope the issue has been resolved, but if you're still not receiving notifications for "Watched" threads, I suggest the following steps:

1. Unwatch the thread and exit the forum.
2. Log back into the forum and locate the thread you want to watch.
3. Reactivate the thread with email notifications.

Sometimes resetting this feature can help resolve the problem. By following these steps, you should be able to start receiving notifications for the threads you're interested in.

Skate.
 
THanks
@Skate
I will follow it and believe to be working.
Btw this time I also got your message directly forwarded to my email.
Should have applied iit earlier,learning from Telstra and IT - switching off and on.
Regards
 
I didn't realise Transitioning was so painful
The decision to transition from trading to investing at the end of December was not one of my better choices. During the first half of the financial year, my "trading" had been performing well.

EOY Update
In the final week, the yearly results deteriorated further, (the "red" section of the "orange" bar) and by the end of the financial year, I had surrendered a significant portion of those open profits. While the overall performance remains positive, the results haven't fully met my initial expectations.



Mrs Skate's perspective, however, helped me maintain a balanced view, reminding me not to make "negative comments about a positive outcome". Despite this, I still found myself reflecting deeply on the decision to transition to investing over the weekend.

Skate.
 
peter2 said:
What is it with Fridays? The week gives us gains and Fridays take some away. It's been happening for a while now. Anyway, it is what it is.
Click to expand...

What is it with Fridays?
Being $4k shy of a six-figure sum for the week, this financial year has started with a bang. It just goes to show that the market "gives what it gives" regardless of the decisions one makes. With no overnight guidance from the U.S. due to the 4th of July holiday, the current outlook for today is not particularly bright.

Skate.
 
the transition to investing , or the transition to lower energy returns ( from WDS )

it might just be share rotation currently
 
some traders ( and fund managers ) like to lock in profits at the end of the week

sometimes that activity is barely noticeable , but if trading on Friday is thin or nervous .... that trend becomes more obvious
 
It happens to everybody, i have similar regrets on a RE position.yet when you think about it, while not optimal and with a paper loss in several 6 figures vs peak, it is still a very substantial 6 figures gain, more than if we had done nothing.
And you took an opportunity and gain some lifestyle...moreover never too late to change or alter.
No regrets is a motto;-)
 
investing is a long term game , but that doesn't mean you have to ignore that nest-egg ( i prefer to watch it very closely , and boost it at opportune moments )
 
Skate said:
@Miner, I appreciate it whenever someone takes the time to read my musings. You noted that in a short timeframe, you missed around 7 of my posts, which suggests I may be over-posting again.

Skate.
Click to expand...
@Skate and @Joe Blow
I have followed Skate's IT advise and if have no joy, from this post onwards to get an email when a new posting is done, will return.
Until then, happy reading and learning for me by forcing into this thread proactively.
 
The excitement of what the future may hold
After reading @bettamania's comments, I believed it would be the ideal time to make a post about strategy development and expand on each step. Testing and evaluating a trading strategy is a crucial step in determining its potential profitability. However, a simple search would provide further explanation if needed.

Here are 6 key steps to take
1. Develop a trading strategy from an initial idea
2. Backtest the strategy
3. Analyse the results
4. Optimize the parameters
5. Paper trade the strategy
6. Monitor the strategy

By following these steps, you can test and evaluate any trading strategy to determine its potential for profitability while minimising the risk. Remember to always approach trading with caution and "only risk capital you can afford to lose".

Skate.
 
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