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I think I need to remind you of my Part 1 where I posted screenshots of a guy who just proved that what you said was wrong. At least regarding my MM Technique that is.
Look again at the performance report, ESPECIALLY the one where Tim said that betting 656 contracts of the ES was high and where he managed to get to the Million $ mark in 10 weeks by locking down his ES contracts to only 18 which was more down to earth.
As I said on a previous post, EVEN if you failed 1000 times and seen other "experienced traders" (because my 14 years of analyzing, learning, programming systems and backtesting them doesn't seem to count here) have also failed a 1000 times, YOU CAN'T tell a new guy that his system will fail or that it is impossible because he's NOT using the same systems and strategies that YOU USED.
This "Super Crazy" idea of doubling my contract is NOT that far fetched. You just need 5 pts and you have done 1 of the doubling.
I didn't say it was easy or that I will be super consistent because you can't do that. However, I have shown you my indicator and you laugh at it or toss it aside, you are missing a big part of this Million $ climb because any experienced trader will tell you that you need to:
1- Find the trend
2- Buy the dips
...and my indicator is the best I have seen to help me do that and trust me, with 14 years of watching the TradeStation forums and EL programmers come up with all kinds of crazy indicators, I have seen A LOOOOOOOOOT of them so just from that statement alone should gain me some respect here instead of treating me like a kid who just discovered trading last week.
Oh PLEASE ENOUGH WITH THIS ALREADY.
I got TONS of VHS tapes (that shows my age right there), books, CDs, DVDs, online courses and years of programming and testing under my belt so again... STOP SEEING ME LIKE A NEWBIE....BECAUSE I'M NOT.
Cheers,
Merlin
Can you help answer these questions from other members on NexusFi?
Biggest mistake you made (and it happens often) is to create a thread with this sort of title.
Best advice I can offer you is to join FIO elite, it's worth it many times over, create a journal with a less provocative title and just get on with the business one or two trades at a time being honest with yourself every day of the job. It isn't easy. In a small account I did 20X in 3 months with 170 trades, then blew it up completely and I'm still trying to recover the psychology after three years in sideways la-la land.
I really wish you the best, highly recommend you close this thread and start over in a new journal, walking softly.
Not really because this type of title attracts 2 types of people:
1- The negative ones (oops! sorry, I meant to say the "Realist" ones)
2- The Elite, the best of the best, those traders who are on the cutting edge of research who don't trash it right away and ponder about it for a few days before replying.
It's those Elite Traders that I am still waiting for their replies.
On TradeStation, Tim was one of them. He came late but what he did is:
1- Read my "crazy thread"
2- Didn't fall for the "negative trap" and let them bitch about me and calling me names, etc
3- Programmed my Money Management System into code
4- Backtested it with his best trading system
And then and ONLY THEN... he posted screenshots of his performance report and even later on posted my MM technique into code so that it would calculate how much you have done/lost at the end of the day, see if you had enough to double your contracts and if so, apply that in the next trade.
it's when those Elite traders come in that the tone of the thread changes and the views EXPLODES because this "crazy 100% impossible" concept is suddenly "POSSIBLE" and that's based on stats and like I said, only stupid people argue against stats.
So that's what I'm doing here. Phase one (hear the negative bitch and laugh about it) is running it's natural course now but I'm waiting for Phase 2 (The best of the best of coders to jump in) and when this happens, "Hang on to your hats folks" things will get VERY BUSY HERE. Mark my words on that. :-)
Will it happen? Time will tell but if it doesn't happen in Big Mike's Forum, not sure it will happen at all.
So stay tuned, you never know where this thread will be next week from now.
My 2c comments and question. The squared ema kind of reminds me of the old "supertrend" ma or the ZeroLagHATEma. ("Heiken Ashi Triple Ema" or ZeroLagTEMA or the other ZeroLag's). So the two clouds serve as kind of a trend indication. Is the bottom/darker cloud set on a higher time frame similar to a 5min vs. 1min proportion? What happens when in chop and the clouds keep turning over each other, or does that rarely happen with your indicators (?) because a main concern is usually when the trend is ending. I think there is merit for the cloud setup to be a higher time-frame indication where the regular and higher time frames are synched with the trend and easier to see on one chart at least. And maybe it could display similarly on a minute candlestick bar chart as well. (i'd tried the renko bartype phase for a while, but have since preferred traditional minute bars now).
My 2 clouds are not based on time or n previous bars, they are based on a fixed price range and yes the darker cloud (longer TF) is set on a 10-12 pt range while the lighter cloud is set on a smaller 6-8 pt range to capture the change in trend.
I agree with you that our main concern is to be warned when the trend is changing and that is why I added a 2 cloud with a smaller TF to tell us that the trend is changing.
You can see in the screenshot below that the light blue cloud is suddenly moving to the upside in white and when it crosses the darker cloud, it changes from dark blue to light gray.
In a choppy market when price jumps up and down on a small range like 10 pts or less you get this smooth setup.
But when the market goes up and down by waves of 10+ pts you get this crazy movements in the 2 clouds. This is fairly rare.
When you see this type of pattern, DO NOT TRADE, even if this means sitting on your hands for a few days. Wait for the 2 clouds to run smoothly in parallel like we saw on the last 3 days.
I see your theory is from 2014.
I do not wish to create more drama but I have a few questions.
It seems there have been a lot of 10 week periods between 2014 and 2019.
While you were using TS how many 10 week periods resulted in the success of the hypothesis?
If the hypothesis was proven, why not use some of the profits to hire a programmer to create your indicator? Waiting for someone to volunteer to create it has resulted in many weeks of lost potential $$.
I am not asking to criticize or discourage.
I'm only curious if your hypothesis has been proven or just an unproven theory?
Many years ago I developed a spreadsheet with a similar hypothesis.
It looks great in Excel, but never produced those results in actual trading.
In simulation it works, in live markets meh!
If my post offends you, just ignore it and continue your journey.
Let's not mix my Money Management Technique with my Trading System shall we? It's 2 different things.
Regarding why nothing happened since 2014? Here's the answer I gave at the end of Part 1...
Now Tim never posted the code of his trading system that he used to make this Million $ climb in 10 weeks back in 2014 in his performance report.
As to why he didn't even use it to get rich even by locking down the ES contracts to only 18 like he proposed? Go figure! People don't all have the goal of becoming millionaires, maybe it scared him, maybe he didn't even believe his own performance report. Who knows?
So the doubling part (Money Management Technique) that's easy to do ONCE you have a killer trading system which I didn't. At least not good enough to do these doublings.
As to my trading system based on this 2 clouds indicator, I just created it a few weeks ago and I didn't want to jump in head first like I did in 2005 where I lost $22,000. So yeah, I got burned alright, and since then I took my time to get my revenge by coming up with the best trading system I could get my hands on.
At TradeStation you needed $10,000 to open up an account and each Mini Russell 2000 contract was costing $1,600 a piece. If you got burned, that's not the type of money you like to throw in the fire just for the fun of it. So I took my time to gathered the money and slowly took the time a few weeks here and there every year to find and improve any system I saw.
However, now that the Micro Futures account can be opened with only $100 and Micro Russell contracts go for only $25, I have the money for it but still don't have the solid system that will assure me victory. I'm working on it and I'm veeeeeeerrrrryyyy patient kinda like a pitbull who will not leave the sight of his bone.
It's not even ready yet. Even with the help of these 2 clouds indicator, there are still problems to fix but I got time...Good things comes to those who wait right?