I'm a visual person as you have no doubt realised reading this blog. A picture is worth a MILLION words. I want to react to events and take in the information as quickly as possible. A picture does it for me. Numbers are for analysis.
In this quest, I create visual aides that show me in a direct way things that I may need to pull together from other sources. The chart below is the ELmom on MarketDelta. Here the information is being really pushed at me. I can almost trade RED light, GREEN light.
Using little tricks to make it easy to react quickly and consistently can be a good idea for some of us, especially if you like systematic trading. You can build "either... or" scenarios into the indicator so that it gives you a big part of the picture as a conclusion. The computer can help a lot more than I thought. Developing Flo helped me find a lot of things I can use in discretionary trading.
Even if I get the context wrong and take every trade, the methodology is robust enough to leave me GREEN on most days. BTW, we have improved Flo's code and the chart below reflects that improvement. As Kiki is getting a better handle on RTL, she's making more headway. We are now looking to add some more stuff from inside the bar. If we could use the eSignal data for analysis and, at the same time, broker data for trading, we'd be live on Monday. As it is, we'll be using the MultiChart version until MarketDelta upgrades their software. As soon as we finish the next phase of live testing, we'll set up the GoToWebinar.
Tom, are you going to sell Flobot? Hate to think that where it was all going....no answers to my comments on technical, alot of response and blogging on Flobot
ReplyDeleteHowever, I am grateful for intial 20 percent of your wisdom.
driven, no good turn goes unpunished, as my dad used to say. Using autotrading like FloBot can be the solution for a lot of traders looking for CP. It's quite disappointing and sad coming across someone who I've helped who just wants to kick me where it hurts. I've given a lot. Before you start criticising, I'd love to see what you have contributed to my cancer charities in small compensation for what you have been given. Where we take Flo depends on how good it turns out to be.
ReplyDeleteHello EL,
ReplyDeleteI'd be willing to wager that for every person like "driven," there are scores of us who genuinely appreciate all that you've done and continue to do.
Best to you and your family,
AK
P.S. Thanks for the reminder about the cancer charities. I'll make a contribution today and I hope others do the same.
EL, what information is MD lacking that is available in your other software?
ReplyDeleteAnon 19:20, nothing, MD has more functionality, it's just that at the present time MD cannot run the charts off eSignal but put trades therough a broker. This functionality is coming I'm told. MultiCharts has that functionality now but it does not have volume at the bid and ask, only upticks and downticks which is not the same although close.
ReplyDeleteHi Tom,
ReplyDeleteCan we get an updated MD chart definition with the ELmom indicator...it looks very interesting.
Also, can you divulge what is the profit target on each shock & awe trade when the FLO is trading the 6E with the 5 tick range bars...assuming you are trading an all-in / all-out approach.
Mahalo,
Kaloko
Hi El,
ReplyDeleteduring the last months i 'reverse engineered' a few of your setups. But the elmom indicator is a different cookie.
is it possible to reverse engineer the logic for the elmom indicator based on this chart or is some needed info not visible on this chart?
Thanks!