Amazingly Simple Scalping Price Action Trading Strategy To ...

What do you think about classical technical analysis as a basis for algo trading?

I have been wanting to develop a software for trading but by using TA as the basis for buying and selling on my position. I would be using some indicators (MA, Bolinger Bands, oscillators, etc) with a pinch of price action. It seems like a lot of people here are really biased towards using some abstract and complex mathematical models instead. I recently failed Precalculus 2 twice so I'm not touching that stuff at all. My plan was to scalp USD/JPY forex pair on the 30sec, 1m, and 5m timeframes and doing this mostly the same on Micro Gold Future contracts some time in the future as well. I know how to program well so I could easily build this stuff, and Im doing it in a non traditional programming language for this field that I personally love.
So would doing this be profitable at all? And does anyone else have any experience in trading pure classical technical analysis?
submitted by nazca777 to algotrading [link] [comments]

Shorting Noobs - Purpose of Posts and Consolidation of What We've Covered

Shorting Noobs - Purpose of Posts and Consolidation of What We've Covered
Part [1] [2] [3] [4] [5]
I wanted to take some time to explain my purpose in posting this "Shorting Noobs" series here. In the posts, specifically. I've explained my theory for doing the project itself enough in Q/A in comments.

First let's cover a few things I am not here to do;

1 - Cocaine. Nasty habit.

2 - Undermine, mock or disrespect people new or losing in Forex
I hope this is apparent from my general tone in posts and answering questions. I do not think I am better than you, I know statistically speaking I do this a lot more than most of you. There are things you will be amazing in that I am a noob, it's really only a matter of time and focus. I do not use it as any sort of slur.

3 - Undermine people offering copy trading services
To be honest, I kinda like them. To see how others trade, especially if they do is systematically is fascinating to me. Much can be learned. I value watching people trade higher than airy statements about trading ideals, it gives real information.

4 - Promote Excessive Risk
Although there have been big swings in the strategy, this has not been me trying to ram the virtues of reckless risk down your throat. I recommend it only as part of a balanced diet. The strategy takes a lot of risk because what it is doing (lots of trade data from many sources). Not what I am doing, or suggesting you do.

5 - Sell Anything
I am not marketing any of the strategies I document. You will not be able to get software from me. I do not sell training. Already many people have asked me for training in DMs, and will be able to vouch I have no sales pitch (usually not even a direct answer, just a nudge in the suitable direction).


Now let's talk about what it is about.

I'll do this by sharing a couple DMs I have got.


https://preview.redd.it/oof1l8hm4ci31.png?width=664&format=png&auto=webp&s=532e151f0e9d4d429e1e7e67815b2dd1aec73390

https://preview.redd.it/59k5ug1u4ci31.png?width=681&format=png&auto=webp&s=c0ab733afceab61614313e4379b9a3cac9c4ed12

Firstly, thank you to those who've sent these sorts of messages (if you've messaged me and not heard back in 2 days, please message me again - I'll reply, but keeping up with them is tricky). The fact that when I explain some logical things you can go and test independent of me and come to your own truth on the matter validates this is worth the time and effort. This is what I want you to do. Not believe me. Not buy my hype. Check your own trades against what I highlight.

I think the whole "should I short myself" topic is too long to be included in this post properly. Short answer I'd give is no. There's a far longer one. For brevity, what you should seek to do is understand the triggers for you making losing trades. The triggers for losing entries are also triggers for winning entries. Understand them and re-wire the way you think about the market.

I want to show you that mistakes people make are predictable. I think they are so predictable that I can reduce it to working out what strategy type Timmy is trading, and then "Activate Timmy" at a time I know that strategy is prone to loss, and rack up profits in his drawn down. I also want to show you that what I do does not "break" when there is a news event. It frequently compliments it and my qualifiers foreshadow it.

I want you to understand that as a way to offer you a form of empowerment in the markets. For as long as you believe we are at the whip and whim of these things we can never understand, you're driftwood in the waves. Where others find their excuses, I have found patterns. Where many of you have your frustrations is the root of my fortunes, and I am not smarter than you. I want to stress that. I'm average, but pedantic about precision and this is my job that I do every day.

I will now round up analysis and lessons from posts over the last week or so to consolidate a lesson for you that offers you the chance to instantly improve poor trading results. I'll show you how;

1 - How I explained the type of trading error theoretically.
2 - How I flagged up someone making the trading error in real time.
3 - How I profited from the other side of the trading error, and posted that forecast.

Mistake types:

https://preview.redd.it/cz8wcjna8ci31.png?width=722&format=png&auto=webp&s=55291f94a08c7c75fc240e2a4bbe145fffd6f34b
Full post

We are going to be looking at the area when downtrend turned to correction. We'll used GBPUSD as an example. My post is timestamped, you can see I posted these common mistakes we should look for longer before the GBPUSD price action I will reference. This is not retroactive curve fitting.
Someone posted a sell setup in here on GBPUSD. By up-vote court, trend continuation was the way to go. Unfortunately the poster later deleted their post, so I can not show you specifically the type of analysis they used. I'll say it was good analysis, 2/3 times. This was the 3.
My reply.

https://preview.redd.it/4rubru039ci31.png?width=729&format=png&auto=webp&s=2320150755da871be7bf506db9af34f686c00e3a
Trades

https://preview.redd.it/zzpznz979ci31.png?width=813&format=png&auto=webp&s=c961cc7d427b2753c25c03f345baecee4d9c88ba
Area they posted their sell analysis stating something to the effect the trend was down and there'd been a big correction. We can sell now, it might go up a little more but it's due a drop (I.e, Break&Re-test trade)

https://preview.redd.it/vbvt69lj9ci31.png?width=693&format=png&auto=webp&s=ece654e53d15e0f6412cdc71e71c2899fbc19ea2

I'd call this a foreseeable mistake, and good opportunity to trade the other way when you understand the mistake. That's what I'd describe the mid week action as.

However, word on the street is ...

https://preview.redd.it/h6kvwdknaci31.png?width=703&format=png&auto=webp&s=d7e07d060f714518781a9853be05a09fd41f3ea3
I sure didn't see that coming. Draw your own conclusions.

Following this move, I then posted this analysis. In the analysis I explained the 50/61.8 trap (see [2] [3])

Someone replied this (I'm not "calling out" this person. I hope they take this for what it is, and me just showing what people think vrs what happens, and how this can be 'known').


https://preview.redd.it/vcuftml3bci31.png?width=730&format=png&auto=webp&s=9e75b04752ae9f159dd63fce004d950c84d46fa3
As well as explaining the trap type, the moves to avoid, the scalp possible in the immediate term and sort of price action to expect in a reversal (all just stuff to explain not making selling mistakes on this known mistake area), I also used another strategy to post where the buy for the run to the 61.8 area where be.


https://preview.redd.it/0wmlr6nibci31.png?width=726&format=png&auto=webp&s=dc9af6aaf04028be190ec7abfe177038aac64fa3
Full post https://www.reddit.com/Forex/comments/cu8d23/strategy_to_make_50_100_a_year_trading_one_day_a/

Then I bought at that level, posted we should expect a big pull back and re-load for further swing highs.

https://preview.redd.it/cbi0s2ytbci31.png?width=995&format=png&auto=webp&s=a594c9f3563c235845c40e95ba6d122b29b0c869
Full post https://www.reddit.com/Forex/comments/cufic1/strat_for_50_100_a_year_more_details_first_trade/

I posted my further entries in real time.

https://preview.redd.it/33ymy0p6cci31.png?width=625&format=png&auto=webp&s=95659d006d9e501d0e31c80f0a7e02be68944dd6
Which were profitable.
https://preview.redd.it/4xogetkccci31.png?width=491&format=png&auto=webp&s=100dd5d7344e58f721c37278c29fce6fdb3f0afe
Full post https://www.reddit.com/Forex/comments/cujxgo/strat_for_50_100_a_year_common_points_example_of/

Through all of this, the market went about 10 pips against me in mid week trades, and then under 2 pips against me in all of my trades for today. When I entered, things just worked. Almost as if I 'knew' ... but there's no way that would be possible.
A person could not know on Tuesday what would happen the next days ...

https://preview.redd.it/ralxj9zscci31.png?width=813&format=png&auto=webp&s=33ec9f5fe6557b2e41d04114568043c6eeca55cf
A person could not tell you in the Asia session what to expect hour by hour in the coming trading day ...

https://preview.redd.it/gg09ufizcci31.png?width=742&format=png&auto=webp&s=dd56093469b6ef9c17ae73daf04b1aef7115b876
A person could not draw tomorrows chart ...

https://preview.redd.it/w32v079adci31.png?width=814&format=png&auto=webp&s=01077c65ffbce184f2759957e81343b200fcbf1e

https://preview.redd.it/ef23h3bedci31.png?width=530&format=png&auto=webp&s=3b396b20a18b612ea299bf993f928513cc93f7b7
Full post for all above

And of course, we know above all else ... No one can time the market.

https://preview.redd.it/gnt7wutqdci31.png?width=708&format=png&auto=webp&s=36c60b303a8f69eaeb07140e6f4d8a56193eab42

https://preview.redd.it/tkkzekb2eci31.png?width=713&format=png&auto=webp&s=a816b96eb85d6fdb75ae7b9ac057a3062f88825f


What are the purpose of my posts here?

Just wanted to add a different perspective.
submitted by whatthefx to Forex [link] [comments]

What is your guy's opinion on using "classical" TA for trading algorithmically?

I have been wanting to develop a software for trading but by using TA as the basis for buying and selling on my position. I would be using some indicators (MA, Bolinger Bands, oscillators, etc) with a pinch of price action. It seems like a lot of people here are really biased towards using some abstract and complex mathematical models instead. I recently failed Precalculus 2 twice so I'm not touching that stuff at all. My plan was to scalp USD/JPY forex pair on the 30sec, 1m, and 5m timeframes and doing this mostly the same on Micro Gold Future contracts some time in the future as well. I know how to program well so I could easily build this stuff, and Im doing it in a non traditional programming language for this field that I personally love.
So would doing this be profitable at all? And does anyone else have any experience in trading pure classical technical analysis?
submitted by nazca777 to algorithmictrading [link] [comments]

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submitted by abcxyz01 to traderselite [link] [comments]

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