New Low Lows

[beermonsterman]

Hi all
I have scrapped all my bots and building a fresh one from scratch starting with low lows as i like steamers so been thinking of ways to catch a new low using automation maybe using an increment signal after catching 3 new lows but struggling with best conditions to use ? What do you guys think would be the best way to capture new Low Lows any advice would be very much appreciated.
I really find it i teresting to see how you automation gurus think maybe i can learn a thing or two the shared automation files are awsome and i have mixed a few together grabbing bits and bobs from different files i love automation and want to automate my pre race trading style and would like one day to have an automation file that can think like me but transfering all thats in my head into an automated file feels impossible .
Thank you in advance

[ShaunWhite]

Before looking at strategies it's vital to sort out your data collection. It needs to be anything and everything and as complete as possible. Otherwise you'll have a fresh idea, start collecting the appropriate info, but then have to wait months to collect enough to be meaningful. That probably won't work and than you're right back to square one again.

With any sort of automation you'll just be chasing short term trends without a decent database to analyse and backtest against. You need spend the first couple of months getting the data rock solid, then while that's ticking along get your backtesting software (probably Excel) doing what it needs to to. Aim to start serious strategy searching in about 6 months.

You won't like the sound of that, 6 months doesn't give you that instant 'fun' trying things. But where do you want to be in 12 months? Still trying random stuff and failing, or backtesting things on a daily basis with months or years of top quality data? Launching a new strategy on the back of decent groundwork will mean it has a significant chance of working, you don't have to start spending a load of money on things in the hope they'll work or expecting to refine it into life.

And..... Really consider what automation is capable of rather than trying to reproduce a manual strategy that needs subjectivity. Eg rather than lower lows and higher highs on a few favourites a day, how about thinking about what might work on everything 247. You'll gain intel far faster that way and it's also much more scalable. Think about what makes markets similar rather than different.

It's a massive topic beer, that's just a couple of pointers. It's a hell of a lot harder than most people think. Then again that's obvious otherwise everyone would be sat outside in the sun with a substantial passive income rather than being at their desk.

[Trader724]

Don't overthink it, sometimes simple is best.

You can try setting up two moving averages, one short term and one long term, and look for when they cross to spot potential low points.

Another option is to use the RSI momentum indicator. If it drops below a certain level, it could mean there's a low point coming up.

It's important to backtest your strategies thoroughly before implementing them in a live trading.

Your automation is only as good as the rules you set.

[ShaunWhite]

Don't overthink it, sometimes simple is best.

It's important to backtest your strategies thoroughly before implementing them in a live trading.

Perfect summary

[Trader724]

You posted a few seconds before me, but either way, the second post would probably just summarize or expand on the first one.

[beermonsterman]

Thanks for the advice ive spent over a whole year collecting data but im sure i was collecting the wrong data and simply just dont want the pain of doing all that hard work again just to draw a blank ?
What would the best kind of data to collect in your opinions be ? ill go again if i can get someone to point me in the correct direction ? I can manually trade pretty well now after plenty of screen time just frustrated that i work full time and miss the days best opertunitys so want to go down the automation road i know what could be a possible trade 10 mins before the off so i have the data i think in my head but im very interested now after you just said about a bot running of good data 24/7 i want to go down this path for sure .

[beermonsterman]

Before looking at strategies it's vital to sort out your data collection. It needs to be anything and everything and as complete as possible. Otherwise you'll have a fresh idea, start collecting the appropriate info, but then have to wait months to collect enough to be meaningful. That probably won't work and than you're right back to square one again.

With any sort of automation you'll just be chasing short term trends without a decent database to analyse and backtest against. You need spend the first couple of months getting the data rock solid, then while that's ticking along get your backtesting software (probably Excel) doing what it needs to to. Aim to start serious strategy searching in about 6 months.

You won't like the sound of that, 6 months doesn't give you that instant 'fun' trying things. But where do you want to be in 12 months? Still trying random stuff and failing, or backtesting things on a daily basis with months or years of top quality data? Launching a new strategy on the back of decent groundwork will mean it has a significant chance of working, you don't have to start spending a load of money on things in the hope they'll work or expecting to refine it into life.

And..... Really consider what automation is capable of rather than trying to reproduce a manual strategy that needs subjectivity. Eg rather than lower lows and higher highs on a few favourites a day, how about thinking about what might work on everything 247. You'll gain intel far faster that way and it's also much more scalable. Think about what makes markets similar rather than different.

It's a massive topic beer, that's just a couple of pointers. It's a hell of a lot harder than most people think. Then again that's obvious otherwise everyone would be sat outside in the sun with a substantial passive income rather than being at their desk.

You got me on this Shaun im going to accept the challenge and start to get this ball rolling i use excell to crunch my data but i have limited knowledge of excell in the way of writing formulas etc would this hold me back . Would it be safe to say collect data by means of automation then load to excel just need some kind of foundation to build on i clearly just do not know where to start
Thank you very good advice

[Dallas]

Hi all
I have scrapped all my bots and building a fresh one from scratch starting with low lows as i like steamers so been thinking of ways to catch a new low using automation maybe using an increment signal after catching 3 new lows but struggling with best conditions to use ? What do you guys think would be the best way to capture new Low Lows any advice would be very much appreciated.
I really find it i teresting to see how you automation gurus think maybe i can learn a thing or two the shared automation files are awsome and i have mixed a few together grabbing bits and bobs from different files i love automation and want to automate my pre race trading style and would like one day to have an automation file that can think like me but transfering all thats in my head into an automated file feels impossible .
Thank you in advance

Just regarding identifying new lows there is a Stored value condition you can use to test if the LTP price is less than the lowest traded price
But this is the lowest traded price since the market opened and also contains a 'spike filter' so disregards low amounts relative to price, - its basically the same Hi/Lo price as you see on the MO chart

Another alternative is to start store the current price say 1hr before the start so each new low and each new high is stored as a value, you can then test if the LTP breaks through this Stored Value

There are several examples in various sections on this forum I've done which contain a rules file using one or the other of those methods to identify a a new high/low price which you can see here
search.php?keywords=high&terms=all&auth ... mit=Search

[beermonsterman]

Hi all
I have scrapped all my bots and building a fresh one from scratch starting with low lows as i like steamers so been thinking of ways to catch a new low using automation maybe using an increment signal after catching 3 new lows but struggling with best conditions to use ? What do you guys think would be the best way to capture new Low Lows any advice would be very much appreciated.
I really find it i teresting to see how you automation gurus think maybe i can learn a thing or two the shared automation files are awsome and i have mixed a few together grabbing bits and bobs from different files i love automation and want to automate my pre race trading style and would like one day to have an automation file that can think like me but transfering all thats in my head into an automated file feels impossible .
Thank you in advance

Just regarding identifying new lows there is a Stored value condition you can use to test if the LTP price is less than the lowest traded price
But this is the lowest traded price since the market opened and also contains a 'spike filter' so disregards low amounts relative to price, - its basically the same Hi/Lo price as you see on the MO chart

Another alternative is to start store the current price say 1hr before the start so each new low and each new high is stored as a value, you can then test if the LTP breaks through this Stored Value

There are several examples in various sections on this forum I've done which contain a rules file using one or the other of those methods to identify a a new high/low price which you can see here
search.php?keywords=high&terms=all&auth ... mit=Search

Great stuff thank you ill get to work on this right away

[ODPaul82]

......i use excell to crunch my data but i have limited knowledge of excell in the way of writing formulas etc would this hold me back....

My personal opinion is that the fact you're willing to do the data crunching and analysis puts you ahead in certain ways.
You don't even need to do anything fancy, just shove £1 into as many markets as you can and record the green/red with a stored value.
Dump the data in excel and look for patterns as to where it becomes green and when it doesn't.

There's plenty of tools out there that concatenate files so you can extract in one go and if you get stuck, just ask!

Some people do better with the analysis of the number whereas some people do better with the visual of whats happening.

[beermonsterman]

......i use excell to crunch my data but i have limited knowledge of excell in the way of writing formulas etc would this hold me back....

My personal opinion is that the fact you're willing to do the data crunching and analysis puts you ahead in certain ways.
You don't even need to do anything fancy, just shove £1 into as many markets as you can and record the green/red with a stored value.
Dump the data in excel and look for patterns as to where it becomes green and when it doesn't.

There's plenty of tools out there that concatenate files so you can extract in one go and if you get stuck, just ask!

Some people do better with the analysis of the number whereas some people do better with the visual of whats happening.

Thank you sounds like the perfect place to start awesome stuff ODPaul82