iCharts Discussions

[prash454]

[prash454]

[rainbow]

slight feel of the beginning of a flaming war, so this post is to clear the air

I have known prashanth for a while now, was introduced to him as the founder of a forum where members share strategies, ideas, etc.

gratis.

no commericals involved, so no clash of interest here, i suppose.

and Prashanth has done quite a bit of backtesting, and has also given me scan/screener updates on spec's positional strategy on a daily basis using a third party app.


prashanth and spec have been introduced to each other. by association. and he would have attended the bangalore get-together, if not for a snafu by me
and prashanth, IMO, no backtesting to this strategy is required. lots of folks on the forum are trading this with good success rates, including me (with lesser discipline). Just a cursory look at this thread from jan 2010 would help.

Spec may like to add to this.


so back to nifty trading again. hope all of you have a great trading day and a wonderful week ahead.

Cheers
DJ

[sandew]

@Prashanth

Spec Methodology is the cornerstone foundation building block of my trading activity. It sets in place the basic principle in a way we read nowhere else - 1. Market moves in a Swing 2. How to identify this swing and its turning points

The manner of trading these swings are described by Spec in various posts and SB archives. The beauty is that each one of us, you and me, can trade these swings differently - I may choose to play a rejection off 34 maybe on 15M or 60M time frame and you may choose not to do so. I may trade the recovery high for addition of position or booking profits, depending upon my temperament and risk taking abilities.

You cannot back test Spec methodology because it is each one to its own.

The only sacrosanct feature is the Swing Pivot Levels, and if you may like to choose - the Stop Loss rules.

PS. You need more confirmation please get in touch with Rainbow, he may like considering to direct you to me.

[rainbow]

Hi Sandew:

thats a great response. you have encapsulated perfectly the innards of this strategy quite well. I would have liked to do that but for my inadequacy in lucidity of thought plus language. THANKS!

yes, Jai has indeed successfully adapted to 5tf from Spec's strategy with some changes.


you have mentioned pivots, ans SL levels here. IMO, Spec has provided an *entire* system.

entries, stop loss, exits, partial profit booking, TSL, trailing TSL, money management, and during ensuing discussions on SB, position sizing (though i think i am privileged to have received more of this stuff on one on one conversations with him. what else does one need? you could prolly stick with this system, and not have to 'need' anything else.

Prolly, would be a great idea to put all of these pieces of information from different threads into one single master document and version it so that one following this strategy has a single point of reference. any volunteers for this activity? or can be a collaborative efforts. I am for it.

Cheers
DJ

[Speculator]

Speculator,

I understand that this strategy is pretty mechanical in approach though the levels are derived from chart rather than from a system. I think you would have done some testing of the same. Would be thankful if you could provide a back-test of the system for last couple of years (preferably from 2007).

Reason for my request is to see how it performs in various market conditions.

prash454,

Firstly, my Swing trading system is a semi-mechanical system. While the trend determination using pivots, Entry and SL are completely mechanical, Exits are discretionary. Exits can be tailored according to one's profit objectives. The exits from the system can either be technical or based on profit objetives. The way i presented the Exits initially was based on Rik/Reward objectives.


So depending on what risk/reward objective you used to exit can generate different profiles for Win/Loss ratio, drawdown, net profit/loss etc. For a low R/R like 1:2 or less, it's easy to get a win/loss ratio of 70% or more. Obviously when going for a higher R/R swing trade, the win/loss ratio drops to 50% or less.

This system was coded for S&P 500 intitally by me on Tradesation platform. Yes, i still have the code and stats on backtesting, both of which i am not willing to share. I am against the idea of converting this into a fully mechanical system or a commercial product and attracting a whole bunch of lazy traders and making the system too popular. Popularity kills any system or takes away the edge from it. The idea of presenting the system on this forum was to share it with a select group of traders, who seriously want to learn system based swing trading.

- Speculator

[prash454]

Spec,

Thanks for the reply. Was definitely not looking for the code . The fact that you have coded it encourages me that its possible to code it.

Prashanth

[Bittoo]

Hello All,
Swing Pivots update for Copper, Leadmini and Zinc mini (Charts attached)

Copper 15 TF :: Downswing:: Pivot 407.70

LeadMini 15 TF ::Downswing: Pivot 107.45
Zincmini 15 TF:: Upswing Pivot 93.65

Spec Sir/Rain/Jai2000: Request your valuable time to validate and help me learn
Thank you for your time

[rainbow]

hi bittoo

i presently dont trade commo, planning to start in june, and hence have not subscribed to rt feed.

and am still getting comfortable with pivots.

jai2000- there goes your weekends

Cheers

[Jai2000]

Bittoo,

Yes, the pivots are correct.

Regards,
Jai

[Speculator]

Folks, i will be taking a small break from posting for a month or so. In the meantime, you guys keep up the good work you are doing. Keep the discussions and learning alive

And good luck everyone on your trades !

- Speculator

[Jai2000]

Spec sir,

Thanks for yr heartly wishes & appreciation. But why one month break ............


Jai

[prabit]

5444 upswn pivot taken out. somebody pl post dwnswn pivot.

[vinst]

[Bittoo]