The real problem with your trading system. - page 4

New comment
 

Yes, I check both indicator to allow 'Import of DLL'.

The *.csv is in the correct directory and refresh every second.

Maybe too little bars??

When I open the Historic Chart offline in the first row:

!TickEURUSD,M33 - Nummer of Bars : 177 (in my case) - From 1970.01.01 00:02 to 1970.01.01 02:58

Is this correct?

All the other Charts have the current year

 

Ok, the Forex-Symbol from my broker has the appendix ~FXF.

The code write the *.csv file correct with EURUSDFXF.csv

The historic offline chart has the setting !TickEURUSD, that the reason for "waiting for update".

The indicators works fine for tickers without appendix like GER30.

Any help will be appreciated.

 
Zion_Lion:
My best advice, let your candles be measured in ticks rather than time.

This is a mine field.

In short you logic works for stocks, but not forex.

Interbank rates and volume just vary too much between brokers. Everyone's chart is going to be different.

 

I downloaded part of the ticks database of dukascopy, is there a way with this information to create the offline charts that I want , 5ticks, 10ticks, etc.. ?

 
Zion_Lion:
Greetings. I must tell you, newbies and those who haven't done their due diligence, about what the problem may be with your trading system.

After reviewing some, not all, of the offered trading system here, it came quickly to my attention that few mention the use of a tick chart and/or tick candles.

( I'll speak under the assumption that most use candles on their charts; as opposed to line or bars or other (i.e renkos).)

First...

Time is constant, yet doesn't even truly exist. I don't mean in a philosophical way; but rather in the trading market. From Sunday open to Friday close, the forex market is one very long trading day. And chances are that your current broker only offers "time frame" candles.

The big problem with this is, for traders, is thatthe market isn't measured in time, or time frames. It really may seem that way; but it's not.

Perhaps some have gotten so accustomed to visually seeing their charts in time frames, that it became a regular and unconscious belief that that is just how to trade; in time.

Take a look at your chart. Any time frame; let's example with 15 minute.

Tell me what happened inside of that 15 minute 40 pip candle. What about that 15 minute 20 pip candle? And what about that row of flat and/or ranging candles? At best, most could only answer that each candle lasted the same amount of time before the candle closed.

This presents a problem. Why? Simple. Who has ever cheered because they were in a trade for the full 15 minute candle? Who ever cheered because they made it through two 30 minute candles before the exited the trade? And how many have cringed because the moment they entered their trade, the market stalled and ranged for 2 or more straight hours!?

Problem is that measuring with and/or in a "time frame" is not accurate; not even close.

Sure you might get a fair idea of the next trend direction, or even maybe some indicators might fire off some reasonable signals. However, the market is not measured in time and most indicators simply lag because of it.

Some indicators are a mix of time and price movement, but waiting for the candle to close is what causes the problem. The candle may or may not close with the indicator holding it's signal. The indicator might re-paint. Or even worse, the price already jumped 30 pips, and the candle isn't even close to closing.

Second...

You must let your trading system "agree" only with the actual and important measurement; namely, price.

The Y-axis is what counts. The Y-axis is what should be used for best measurement and results. We cheer for making pips and any positive amount. We cringe for negative pips. Enough said.

The candle tick chart offers an unprecedented way to really "dissect" that whole 15, 30 , 60, etc., minute gap of time. It is literally like an opening up and peaking into the markets fine tuned movements. The candle forms because X amount of ticks in price has occurred, not simply because X amount of minutes passed. When using a tick chart, trading makes a lot more sense, and indicators are much more accurate.

I've been using tick charts, and I've never gone back to time frame trading.

I can modify the candle to represent as low as 2 ticks . I haven't used passed 100 ticks, but certainly it's possible.

In other words, instead of the candle representing a range of time, it represents X amount of movements in the price.

Makes more sense, right?

You want pips? Make your system and indicators measure only in pips (ticks).

For short term scalpers, as low as 4 ticks could give some 10-60 pips moves.

A 10 - 20 ticks is comparable to a 1 minute chart, yet much smoother and cleaner. (amount of ticks depends on currency pair)

A 35 or 50 ticks is comparable to a 5 minute, yet also cleaner. (amount of ticks depends on currency pair)

For long term traders, even better. And better than ever.

Just up and tweak the math, and make the comparison.

Third....

Your broker doesn't offer tick charts because of these very reasons. Time frame trading presents much more risk and inaccuracy. Indicators lag and low quality indicators constantly re-paint. Which, is good for them and bad for you.

My best advice, let your candles be measured in ticks rather than time.

Good analysis unfortunately it's unrealistic... tick or time based charts they are the same you can only see an event after it has happened. Tick charts are made to view a block of price movement and the price can oscillate between the max and min you have it set to and that you can see on time charts as well. So they are the same in terms of providing info. It's all about your strategy and how well it works on whatever charts you chose.

 

the key element could be how much loss can you handle

same theme as the discussing topic

forex price that you got will not be a continuous light spectrum

it is more like DNA charts , it is discrete but defined numbers

---

just like betting on football, let say, it is 2x of your bet -- for either win or loss

and there is transaction cost for each lot bet

the net result will not be zero-sum and then minus all the transaction cost, but lower

i.e. we should not bet more when we are overall losing

but have to bet more when market conditions seems to go our way

forex will not let you become millionaire with pairs-matching and random betting

harder than chess diva , I guess

---

if we want to make money, we better invent something

e.g. the flu could be combining, chicken-flu, public environment exposure , and rug floor -- full of debris

we could invent something like toddler sponge tile floor with hardwood tile on top, so it got cushion and solid wood look

or glass internal interior partition design

1234
New comment
Reason: