10years,6pair,Daily_chart,138,474pips profit. Requirement:Patience

[birdjaguar]

Traderdesk:
Why don't you use e-signal? It seems to have much more functionality than intellicharts. I also use intellicharts, but mainly because I am not a programmer and it's cheaper. I manually backtested my system. It gave me a great feel for the rhythm of the market. I have created alerts and indicators using intellicharts but I am obviously missing out on a lot more than I thought. Please tell why you like intellicharts over e-signal.

[traderdesk]

Originally Posted by birdjaguar

Traderdesk:
Why don't you use e-signal? It seems to have much more functionality than intellicharts. I also use intellicharts, but mainly because I am not a programmer and it's cheaper. I manually backtested my system. It gave me a great feel for the rhythm of the market. I have created alerts and indicators using intellicharts but I am obviously missing out on a lot more than I thought. Please tell why you like intellicharts over e-signal.

hello birdjaguar,

Since I have not used E-signal I cannot compare it to intellicharts. I like intellicharts because it is easy to program and I'm used to it. I will take a look at e-signal to see what are some of the differences.

[4xfool]

Originally Posted by traderdesk

Hi, Would you mind sharing the intelliscript code? Be careful of doing backtests especially if you are referencing one timeframe with another, this can construe false results.

Thanks...

I've already been contacted by a company who is interested in the algorithm and possibly train their traders so I'm not at liberty to disclose it on here. I can tell you this much though. It only uses one timeframe, simple stop/loss, and very simple indicators. I can't guarantee it hasn't made any mistakes but I have gone thru the performance detail and performance summaries a few times and the errors are few. My system only generates, on average, 6 signals/month for the EUR/USD. It's not this complex tabulation each time a signal is generated, contrary to popular belief. I believe simpler is better. I think there are probably tons of great systems out there. I really think the problem is people lack the self discipline to trade them. The pain from losing overwhelms them. Trading is not for everyone nor is it a normal thing for humans to experience this kind of loss on a regular basis. We really have to re-program ourselves to accept it and trust our system and believe in the long run, it will work out. The truth of the matter is that the vaast majority of us are too short sighted to be successful at trading. The money is made in longer term trading.

[birdjaguar]

Sounds like you want to sell your system that has never been traded.

[4xfool]

I'd trade it if I had the time and the $. But...sure, if someone wants to pay me for my brain, I'd let them. Wouldn't you? Have you never invented anything?

Here's something to ponder; The Wright brothers were not airplane mechanics but bicycle guys. Was it wrong that they discovered how to fly an airplane? Sometimes people out of "their field" discover better ways to accomplish something. Maybe thats what happened here. Wayne Gretzky just "saw" the game differently than the masses and it made him great. Sometimes, you have to look at things a little differently to move ahead of the pack.

[FXLearning]

Originally Posted by birdjaguar

Sounds like you want to sell your system that has never been traded.

4xfool,

Try to include other time frames (two or three at least), and you will make your customer happier. A single time frame will whip you one way or the other eventually, but with more than one time frame making a confirmation of the signal in the time frame of your choice, you get closer to the real deal, and you should be able to increase the confidence of your system.

I have a system that I made a while ago, and it has huge annual returns, low drawdowns, few trades, excellent win/loss ratio, etc., and it is good for nothing. Anyone trading it would lose money. In other words, statistics can lie beautifully.

[4xfool]

Originally Posted by FXLearning

4xfool,

Try to include other time frames (two or three at least), and you will make your customer happier. A single time frame will whip you one way or the other eventually, but with more than one time frame making a confirmation of the signal in the time frame of your choice, you get closer to the real deal, and you should be able to increase the confidence of your system.

I have a system that I made a while ago, and it has huge annual returns, low drawdowns, few trades, excellent win/loss ratio, etc., and it is good for nothing. Anyone trading it would lose money. In other words, statistics can lie beautifully.

If your system worked, it should work. Maybe your backtest wasn't reading it correctly. I have gone back and checked all different timeframes. Maybe it wasn't reading closed candlesticks. Who knows but obviously it didnt work. I have checked my backtest to make sure it is doing exactly what I want it to do. It's usually not the system but the person behind the system that creates the failure. The lack of trust in your own system and the inability to execute is usually at the root of the failure. Your system may have been good but you couldnt trust it, who knows. Anyway, I think what you wrote does not apply here. First of all, you dont have a clue what my system is looking for. And secondly, you dont know whether or not I am personally able to execute it. Thanks for your opinion but I honestly feel that it doesn't accurately fit here. It is your opinion and it's how you feel. Any readers will just take it for what its worth, your opinion! Let's see what your system that worked but didnt worked actually was looking for. Maybe we can fix it.

[birdjaguar]

While it is true that it is usually the trader and not the system that fails, it is equally true that most systems developed by non-traders fail. Also, most independent traders come from other professions; so being from "out of the field" is not an edge. I think FXLearning was just trying to help you understand part of the dynamic relationship between backtested statistics and bottom line. I realize you don't care if you are not going to trade the system. There are a certain number of companies that buy systems in search of original ideas. A good trader may be able to construct a viable trading system from your ideas. Good luck.