hyperscalper 

Hi. Let me try to help. The Dots are plotted against Price, even though it appears to me you have the TradeFlowRisk indicator in a separate panel. That's OK. I've not used it on a 200 tick chart, but that should not be significant. Dots which are placed directly on Price "candles"; have the meaning of "Super Spike" or "Big Lot" Volumes exceeding threshold. Those Dots placed Away from Price indicate that Risk exists on Inventory....

Etc.

@hyperscalper, @cory, and everybody else who wants to post code or charts or get into the parameters of some code, or some indicator/system, or wants to show their own solution....

This thread has a topic. It goes, "Would you share your Holy Grail?" It's not, "Please show what you think is the best way to trade, with charts and code and extensive explanations." You can certainly express any opinion you may have about trading in a general or specific way that actually bears on the topic of the thread, but this has gone so far off topic that the topic can't be found any more.

All that stuff can go in another thread and it may be great. But for this thread, let's try to stay at least somewhere near the topic.

Thanks.

Bob.

bobwest 

Etc. @hyperscalper, @cory, and everybody else who wants to post code or charts or get into the parameters of some code, or some indicator/system, or wants to show their own solution.... This thread has a topic. It goes, "Would you share your Holy Grail?" It's not, "Please show what you think is the best way to trade, with charts and code and extensive explanations." You can certainly express any opinion you may have about trading in a general or specific way that actually bears on the topic of the thread, but this has gone so far off topic that the topic can't be found any more. All that stuff can go in another thread and it may be great. But for this thread, let's try to stay at least somewhere near the topic. Thanks. Bob.

I agree that these questions should be associated with my Thread where
the TradeFlowIndicator code is being presented... Maybe it was
accidentally posted here...

I believe this would be the proper thread:

Design a DayTrader Scalping Order Flow Indicator LET'S DISCUSS THE KEY RATIONALE AND APPROACH FOR ORDER FLOW PROCESSING, WHICH WILL YIELD FREQUENT LOCAL TOPS AND BOTTOMS FOR A DAYTRADER SCALPER. In order to do this, we'll discuss the nature of trading; a theory of what should be observed …

[edit] I am happy if replies are moved over to that thread; although that's just
work for the moderator

hyperscalper

hyperscalper 

I believe this would be the proper thread: ....

Thanks. I think you're right.

Bob.

trepidation 

If you found the Holy Grail, would you share it with the world? By Holy Grail, all I mean is a system or methodology that can consistently yield profits in all market conditions however it does it and also make a good ROI.

There are some market conditions are contradicting each other, So I think base on your definition the Holy Grail itself impossible exist in the world.

If it could exist, I guess it would be systems or methodologies, not a system or a methodology.

Just my 2 cent.

bobwest 

The story of Richard Dennis and the Turtles is indeed both amazing and uplifting, but it's a little more complex. He taught them a trend-following system that made money when markets were in strong trends, as they were when he came up, but that does not when markets change, as they do. I think some of the Turtles were successful and remained successful, although many apparently did not. Dennis himself was a legendary trader, but eventually had large losses and stopped trading. The point is not to knock Dennis or the Turtles, just to not expect to be able to put your trust in systems, even really good ones that are well-matched to the markets, or that at least are for a while. And, of course, you should make hay while the sun shines and get what you can out of them, if you find one. More on Dennis and the Turtle experiment here: https://en.wikipedia.org/wiki/Richard_Dennis Bob. ---------------------- Edited to change the description of Dennis from "near-legendary" to simply "legendary," as @sloth pointed out that I was understating the case, and I agree. .

The unsuccessful Turtles, if you believe the other Turtles, were busted out because they did not have the discipline to stick to the rules-based system they were taught - particularly increasing positions when the market was moving against them. I'm unaware of any Turtle that busted out for performance reasons when the rules were followed during the 'experiment'. HOWEVER, I do know some got in trouble following their exit and trading on their own. Some racked up large losses - I think it was the coffee market?

qsceszwasdx 

There are some market conditions are contradicting each other, So I think base on your definition the Holy Grail itself impossible exist in the world. If it could exist, I guess it would be systems or methodologies, not a system or a methodology. Just my 2 cent.

In other words, the ability to adapt to changing market conditions and trade accordingly (i.e. the exact opposite of what most traders seek, looking for static setups or strategies that make money 'forever').

trepidation 

on the other there's this idea of alpha decay where the more people that know, the less effective your edge becomes (arbitraging). What are your thoughts?

I agree for sure with the last part. Also find funny the about the guy teaching. A truly great system is the one that AUTO trades consistently and profitably, so I can golf or fish.

DTSio 

I agree for sure with the last part. Also find funny the about the guy teaching. A truly great system is the one that AUTO trades consistently and profitably, so I can golf or fish.

Guess you have never auto-traded.

Some Tesla's owners have let their car auto-drive and have wrecked - many losing their life.

Same thing can and does happen to traders that let an algo trade and walk away from the computer. They wreck their account - many losing all.

SunTrader 

Guess you have never auto-traded. Some Tesla's owners have let their car auto-drive and have wrecked - many losing their life. Same thing can and does happen to traders that let an algo trade and walk away from the computer. They wreck their account - many losing all.

I've noticed over the years that Traders are willing to
put their faith in an algorithm. Their rationale goes something
like this: "I am too much swayed by emotion; so an algorithm
would take the emotion out of it." -- and, so that qualifies
an algorithm as "better" ??

"I have trouble following my Rules, but an algorithm would
follow them precisely." -- failing to even be able to define what
"their Rules" are... and so there is just a lot of "imprecise
thinking" among Traders, and it boils down mostly to
"wishful thinking" since desperation over the true difficult of
successful Trading is Pandemic in the Trader community...

I am a highly technical trader; and I do write BOTs, but such an algorithm
would Trade in a very different way than a Human would, and also need
to consider "pathological" market conditions, and have "circuit breakers"
to avoid ultimate catastrophe...

hyperscalper

hyperscalper 

I've noticed over the years that Traders are willing to put their faith in an algorithm. Their rationale goes something like this: "I am too much swayed by emotion; so an algorithm would take the emotion out of it." -- and, so that qualifies an algorithm as "better" ?? .... hyperscalper

Note I never said I use an algo to auto-trade.

I use one as part of my discretionary system to determine levels - entry and stops .... only.

As I said previously simple.