The Vegas Short Term Algorithm - page 2
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Great work! Looking forward to trying this system out! Keep up the good work!
Rexz,
Thanks - If you have any questions, don't hesitate to ask.
-vegas
Looking at EURCHF currently, it looks very choppy. What do you do in a situation like this?
Hello Vegas! I have started following your algorithm after reading the PDF thoroughly.
One thing I found is... on M5 charts the Plum line has different parameter in the SHORT AND LONG mq4 files, while you say that they should be set 21 in both cases. What's the truth? MA3=13 is in the LONG mq4.
The other thing I am not sure about is exit based on psar dots. When do we start counting from? Let's imagine a downward move of price, the psar dots have already been above the candles at the time we go SHORT. Ideally the price goes down slowly but surely displaying consistant psar dots. Let's say we have 15 dots on the same side and they go below the Plum line. Now it comes the question, where to start counting from? From the very beginning of the consistant dots? Or we start looking at psar dots and start thinking about counting only when we take a position?
Thanks in advance,
SPR
Hello Vegas! I have started following your algorithm after reading the PDF thoroughly.One thing I found is... on M5 charts the Plum line has different parameter in the SHORT AND LONG mq4 files, while you say that they should be set 21 in both cases. What's the truth? MA3=13 is in the LONG mq4.The other thing I am not sure about is exit based on psar dots. When do we start counting from? Let's imagine a downward move of price, the psar dots have already been above the candles at the time we go SHORT. Ideally the price goes down slowly but surely displaying consistant psar dots. Let's say we have 15 dots on the same side and they go below the Plum line. Now it comes the question, where to start counting from? From the very beginning of the consistant dots? Or we start looking at psar dots and start thinking about counting only when we take a position?Thanks in advance,SPR
SPR,
Yes, they all have different parameters from the STA Long vs. the STA Short. That's why you need different mq4 files for being long or short. It's not a mistake. Both are set at 34, 21, and 5 - what is different is how they are calculated.
What we want to see are consecutive white dots after a position is initiated. And then, only when it reaches the 20th white dot OR 10th white dot above [if long] the plum line or below [if short] the plum line. Now, they can happen simultaneously as I have pointed out in my examples in the other forum thread.
If the white dot count only goes to 6, is then taken out, and then goes to 3 or 8 or 11, it doesn't mean anything. You have to have consecutive white dots from the start of a position [crossover].
-vegas
Today's example is from GBP/JPY. The 4 Hour went bullish with yesterday's crossover, so we trade from the long side. Risk model is = 4, and entry is at aqua upward arrow. There is no consecutive white dot count 20 or greater, and there is no white dot count 10 or greater above the plum line. Liquidate the position on boxed aqua arrow which is where the crossover occurs.
-vegas
Hey Vegas I just wanted to thank you for all your hard work teaching this system. I never post here but I figured I would thank you publically. I read through the pdf and set up my charts. When I have more time this weekend I will reread the pdf and practice on vtrader or something.
I do notice the aqua lines are very good exhaustion points and I like the 4 hour trend filter. Your algorithm seems very promising.
Hey Vegas I just wanted to thank you for all your hard work teaching this system. I never post here but I figured I would thank you publically. I read through the pdf and set up my charts. When I have more time this weekend I will reread the pdf and practice on vtrader or something.I do notice the aqua lines are very good exhaustion points and I like the 4 hour trend filter. Your algorithm seems very promising.
johnnykanoo,
The algorithm has come from many hard years of work and actual trading. If you are an experienced trader, there are many elements of the algorithm that will help your trading. As always, if you have any questions just ask and I will try and clarify.
Thanks for the kind words,
-vegas
Today's example is NZD/USD.
The 4 Hour crossed over and is bullish, indicating long positions. The upward aqua arrow is the buy zone, and position is liquidated when price hits the aqua line. Risk Model = 3.
-vegas
Today's example is NZD/USD. The 4 Hour crossed over and is bullish, indicating long positions. The upward aqua arrow is the buy zone, and position is liquidated when price hits the aqua line. Risk Model = 3. -vegas
Hi Vegas,
How do you rate your FXOPEN PAMM account?
Not the seven pips per day that you expexted...
I am only a fx newby but am looking for a strategy that will make me $$$
Is the short term algorithm not working ???
Daily: -1.20%
Max Relative Profit: 4.04%
Max Drawdown: 1.20%
Max Daily Profit: 0.78%
Max Daily Loss: 1.20%
Average Daily Profit: 0.33%
Average Daily Loss: 1.20%
Profit Volatility: 0.16%
Recovery Factor: 2.34
Sharpe Ratio: 0.28
Hi Vegas, How do you rate your FXOPEN PAMM account? Not the seven pips per day that you expexted... I am only a fx newby but am looking for a strategy that will make me $$$ Is the short term algorithm not working ??? Daily: -1.20% Max Relative Profit: 4.04% Max Drawdown: 1.20% Max Daily Profit: 0.78% Max Daily Loss: 1.20% Average Daily Profit: 0.33% Average Daily Loss: 1.20% Profit Volatility: 0.16% Recovery Factor: 2.34 Sharpe Ratio: 0.28
kanemiles,
First of all, I never said in the documentation that my expectations are to make 7 pips per day. I expect to make more than this; the point of the tables is to show what extremely conservative trading can do. I fully expect to do better than this.
Since the creation of the PAMM, the days I have traded so far have been very limited in their scope. The reason for this is because I have been "clearing the table" so to speak of other business obligations so I can trade full time for PAMM Investor accounts going forward. On the days I didn't trade I was busy with other business duties in the same vein. I suppose I could have taken care of this before I opened the PAMM, but to be truthful I wanted to get this going. Multi-tasking if you will.
The reason I did this, is to be able to give my full attention going forward with the PAMM account while most of the money in it is mine. I have finished this process and I can now give my full attention to the PAMM. So, I don't think what has happened so far in the PAMM is any indication of what is to happen.
The stats are pretty much meaningless at this point. Talk to me in 2 months and you will have a much better perspective of the account.
Friday's loss had nothing to do with the algorithm. It was a combination of circumstances that were "one-offs". I'm a big boy and can take a loss of a few pips, regardless the reason. There is no reason to discuss these because they have nothing to do with the algorithm. It was my problem, specific to me, and that's about the extent of it. Whether it was something I did, or there were circumstances outside of my control, it doesn't make any difference. Fact is I lost a few pips whatever the reason.
There was a saying in the pit, "Some days it rains s**t; just deal with it". I dealt with it.
You will know when the algorithm doesn't work in the EUR/USD because I will post. In general, the weakness of the algorithm is when markets trade in low volatility with very tight ranges. Currently, that is not the case in anything.
If you understand the algorithm, and implement it correctly, you will make money. It has the flexibility to include and adapt to your exit strategies, if you have any you like in addition to the ones I include in the algorithm document. I strongly advise you to go back and look at the history on MT4 of the pair you like to trade and study the results.
I'm glad you decided to post you observations. I was going to post on Monday about this, but I am glad you beat me to it. You are right to send me your questions about this: kudos to you.
-vegas