Discussion On Stop Order Strategy

Trading Discussion
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[QUOTE=“peterk;541688”]

Okay I have had a 24 hour cooling off period and calmed down. I have an absolute distaste of racism and bigotry as you very well observed. I’ll commence the process so I need a number of things from people willing to participate.

  1. Who wants to participate from the start? We need a show of hands.
  2. What skills do you bring? In particular, skills in Statistics and if you can get access to a package like SPSS all the better, any Psychologists? people with scientific background? skills in quantitative or qualitative research?
  3. How much time are you willing to put into this exercise?
  4. Are you willing to do reading as we get going? There will be considerable.
  5. Do you have access to financial data? Is it daily data or can you disaggregate into shorter timeframes?
  6. Do you have access to trading Index futures and particularly the German DAX?

Please remember that I will be directing - I will do some work over the first couple of weeks to get things moving but then the responsibility of doing the work falls on the participants.

Logistics - I am new to this forum so I need to understand how it operates, in particular how to manage the unwanted intruders. It is an open forum but I do not want distractions because this is for the participants. Some questions are as follows

  1. Can I use Skype to discuss issues? Can I use Skype to do some actual trading?
  2. How do I place people on ignore?
  3. How do I manage intruders?

I think that CN understood the issues and how to manage the logistics etc Feedback will be accepted.

It must be understood that the participants will be building a profitable system that you can use. The thesis is that if you develop the system then you will understand it and subsequently own it. Furthermore you will understand the trader mentality. In a very crude way I have commenced the process earlier - Opening Breakout. It is not new but with the right approach it is still viable and profitable.

I propose that we catch up once per week as a group and preferably on the weekend. I am from the nether region of Australia and timing can be an issue. Let me propose some times - from 8:00 GMT to 10:00 GMT on Sunday’s or sometime around preferably after 18:00 GMT on either Saturday or Sunday. I cannot do it on a weekday because of commitments. But I can drop in for any questions.

Just some personal boundaries. One thing from my perspective is that I value privacy. I have removed the accept friends etc from my settings and furthermore I do not wish to share emails. Please do not try to contact. All work will be done through this thread.

The aim of the project is this: To develop traders who are thoughtful, analytical and consistently profitable.

Please note that there will be substantial reading over the period.

Hands up! I will leave it for a few days so that we get a good idea of numbers.[/QUOTE]

Hi peterk,
I am very much interested in this educational experience where I can take an active part rather than a passive one. I have been reading and educating myself with a lot of material in my past 2 years to get my self ready to trade but now struggling to bring everything together.

First of all, i will introduce myself. I am a recent graduate from Wilfrid Laurier university in business administration with a concentration in accounting.still contemplating moving forward for a CPA or a CFA designation. During my university education i got the chance to learn statistics and its basic application, financial accountig theory based on capital markets and futures stocks options an swaps. under it i learnt concepts like portfolio theory and hedging which i think can have useful implications under forex however i am having a hard time applying all that altogether.

I think i can be a useful candidate to help out in your work and to learn from it.i would say i have intermediate level knowledge of excel and I use Oanda brokerage which allows to trade indices like German Dax.All universities over here carry bloomberg terminals. So once in a while through my friends at univeristy I can get hold of information from that too.although no promises on that.
I work in the morning however most time i do grt some spare time on hand. But if need be I can always work after coming back from aswell.but on average 1 hour or more if need be and on weekends it can be longer.
Cant wait to see How all of this comes togeter.
Regards,
Sami

50

I have used the stop orders for the hedging strategy and it has worked most of the time well, but the one you are speaking about is quite questionable as to how they decide it that way.

52

Hello peterk

May I say I have been following the two threads and would also be interested in assisting / learning in your project.
I have excel skills and trade in a very moderate way at present.
I am busy most days but use my time of evenings / nights and weekends learning.
Located in UK.
Will obtain SPSS from IBM and will commit to this whole heartedly

Many thanks

54

Hi

No sorry never said I was proficient user but as its an analytical programe and spent many a long year dealing with similar in my workplace sure I would find my way around it.

Generally use excel for many applications

Anyway if that’s an issue I will carry on watching with interest

Cheers

55

Hi petrel

Just to confirm on knowledge and experience

I can spend at least 1-2 hours a day
, access the indexes to trade
I have experience in the past on Reuters 3000 extra and contributed to 3000xtra hosted now being replaced with ikon.
Currently I have access to e-signal as a platform and mt4 platform. For mt4 I have access to good tick data and can back test if we create some automation. Trading wise I’m not a professional but have sought training from different traders in the last 4 years some that trade price action without indicators, some that trade divergence only and some that are ta andmomentum traders . Don’t currently have sspm experience but will learn .based in uk thanks…

56

Sorry for spelling on the move and just using my mobile

57

I would like to participate if possible please?

  1. What skills do you bring? In particular, skills in Statistics and if you can get access to a package like SPSS all the better, any Psychologists? people with scientific background? skills in quantitative or qualitative research?
    Can install SPSS, no experience in it though. Proficient in Excel.
  2. How much time are you willing to put into this exercise?
    I do have time available yes (was wondering how I’m going to fill my midnight to 3AM timeslot…)
  3. Are you willing to do reading as we get going? There will be considerable. YES
  4. Do you have access to financial data? Is it daily data or can you disaggregate into shorter timeframes?
    Have a backtesting program that allows me to export most major currency pairs including shorter timeframes
  5. Do you have access to trading Index futures and particularly the German DAX?
    Unluckily not.
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Peter, do we have a deadline to finish these books? I’m asking so we can be synched.

Guys, it’s not much actually, just 230 pages in total.

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Hi Peter,

Yes I am familiar with Excel and have strong research skills as I have had to do a lot of research through my two degrees. I currently hold a BSc and an MSc - hope this answers your questions!

Regards.

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I take Yen :slight_smile:

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Wow, ok. Stepped away for a bit and have come back to this great motion from Peter.

@ Peter,

More than happy to contribute here.

My professional background is in asset management and finance (all pretty vanilla stuff and non-Forex related). I’m pretty nifty with an excel sheet, and happy to put in the time. An hour or two a day is probably realistic. Reading, yup doing that anyway, so any new material is most welcome.

Unfortunately I have not had much exposure to trading Index Futures.

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Slight spanner for me due to my location the earliest I can get the books is delivered a week Saturday…poss Friday

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[QUOTE=“peterk;542198”]Paulcam you are most welcome - Wow what a team - finance skills, a scientist, an accountant a linguist, somebody just completed an MBA etc

What I will do in this process is totally deconstruct the way you think about the markets and then rebuild - by the end I will give you three techniques that will help you make money consistently, I will also give you some money management systems but more importantly I will totally change the way that you think of the markets - I can guarantee that.

In the process we will get to know the five instruments backwards and inside out - they will be our money makers.

I’ll walk you through how I trade and the mechanics behind the trading - a critic talks about aesthetics and the painter talks about the cost of paints.

These three tools are essential:

  1. one A4 notebook with dividers - I need six divisions - one for each pair and another for notes (Something like the spirax subject notebook
  2. adhesive book labels - nice colourful ones
  3. a grade three (school that is) calculator - no excel.

Please get these for trading next week. They are essential and we will need them from next week - we will be getting straight into the grind.

Picasso had a nice saying “It took me four years to paint like Raphael but a lifetime to paint like a child” - that is where we are going back to childhood and seeing the place for the first time ( A little bit from TSE)

Some people are calling me mad and how do I trade and do this. I will let you into my world of trading down the track and show you how I trade and then you will understand.

PaulC - no we will not trade the DAX. The reason I proposed the instrument the DAX is because it is the EURo on adrenalin - it is brutal and at the same time instructive. It is my instrument of choice.

We also need to start thinking about an excursion (with cut lunch) using Skype to do some real time trading I am thinking of trading the EUR at around 10:30 am GMT. Let’s think of a date when we can get together.[/QUOTE]

Do you happen to drive a yellow Porsche?

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Hi Peter just to confirm there seems to be 2 books called steidmeyer on the markets thanks.

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They are trading with market profile and the other is a new approach to trading both listing start with your title thanks

73

Hi Peter,

Which broker are you using if you don’t mind me asking? Just so that we are able to all see the same things such as the German DAX etc.

Regards.

74

Peter,

We can create our own group to get rid of distractions.

On top of the page under “Community”, there’s the “Groups” section. You’ll see the “Create Group” link there. It has privacy options like “Open Group”, “Moderated” and “Invite Only”. We can continue there without having to deal with trolls. I am on mobile now, I can set up one when I am home if you like.

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[QUOTE=“metin;542254”]Peter,

We can create our own group to get rid of distractions.

On top of the page under “Community”, there’s the “Groups” section. You’ll see the “Create Group” link there. It has privacy options like “Open Group”, “Moderated” and “Invite Only”. We can continue there without having to deal with trolls. I am on mobile now, I can set up one when I am home if you like.[/QUOTE]

Lol be sure to come back after he starts asking for money to “just cover his costs” or to ask for you to invest in his PAMM…

You’ve been warned… Scoff, laugh or insult if you want… Just don’t forget. I’m only going to do it once.

This guy is a pro… Just not at what you think he is.

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This is very interesting thread, i keep my eye on it. I am programmer with one, sometimes two hours per day, and i am too late, as i see, group finished. :slight_smile: Can i follow silently?

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Metafram911 i think both of them are the same. I compared trading with market profile with the new approach to trading that I download and the content for both is the same.

Sami