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| Original Turtles Rules http://spreadbettingbeginner.com/Forum/viewtopic.php?f=6&t=129 |
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| Author: | SpreadBettingTrader [ Sun Feb 27, 2011 12:18 pm ] |
| Post subject: | Re: Original Turtles Rules |
On Thursday and Friday I tried out the turtle rules in a demo account, although it went quite well one thing became obvious - it would be very hard to trade this system without being sat infront of your live price stream throughout the whole trading session every day. So unless you work from home or are a full time trader already I suggest you dont try emulate the system straight out the book. It would only take 2 or 3 missed trades that should have been taken that you werent able to to completely skew your trading system results. Does anyone on here subscribe to a live price stream like sharescope or prorealtime or does everyone just get their data from the spread betting companies? |
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| Author: | offthelip [ Sun Feb 27, 2011 5:36 pm ] |
| Post subject: | Re: Original Turtles Rules |
What instruments were you trying the Turtles rules on? |
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| Author: | edswifa [ Sun Feb 27, 2011 6:22 pm ] |
| Post subject: | Re: Original Turtles Rules |
I only have real time data from IG index. I have used the turtle rules on ITV using EOD data from pro real time, with some success. I did bail out last week when they touched the two week low. Only had one contract as I was testing it out. Only made about three pound profit but for a small test it was OK. I found that it pays to only use on a stock with ADX(14) above 20. cheers Andrew. |
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| Author: | SpreadBettingTrader [ Sun Feb 27, 2011 6:45 pm ] |
| Post subject: | Re: Original Turtles Rules |
off the lip, I just used it on UK stocks but they may not be the best thing to trade the turtle rules. I guess time will tell. Thanks for the feedback edswifa. |
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| Author: | SpreadBettingTrader [ Sun Feb 27, 2011 9:08 pm ] |
| Post subject: | Re: Original Turtles Rules |
Another reason was also you'd need instant access to the shares that had broken the 20 or 55 day high, otherwise you may miss the boat if you wait till end of day data. You would need a live screener for this data, unless some spread betting charting software allows custom screeners? |
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| Author: | SB_Beginner [ Mon Feb 28, 2011 11:36 am ] |
| Post subject: | Re: Original Turtles Rules |
IG Index advanced charts are basically proRealTime charts. You can write indicators and screeners so you can screen for stocks using them. What you really need is an e-mail or text alert when a stock hits a certain level. I know CMC allowed you to set up e-mail alerts in their old market maker platform but I've yet to see it appear on their new platform. I know Peter Cruddas (Owner of CMC) Answers questions on the trade 2 win forums. Maybe someone could ask him if it will be added soon? I don't know if IG Index offer the e-mail alerts functionality. If not I'm sure if enough of is request it we could get them to add it in somewhere. From a software engineers point if view It can't be that hard to add in something so simple. I've been a bit quiet over the last few days as I've been helping the misses with some reports she has to do for a course she's on at work. They have to be handed in next Monday so I should start to get more time after then to get back to the million and one things I want to do for the site and trading. |
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| Author: | SpreadBettingTrader [ Mon Feb 28, 2011 12:21 pm ] |
| Post subject: | Re: Original Turtles Rules |
Harry, I couldnt actually see the proscreener tab at the top menu of the IG charts. It seemed like it was a heavily trimmed down version of Prorealtime to me. But I just took a look during live trading and the screeners are all there. For some reason they werent there to use when the market was closed, or maybe they shut it down because of the problems with the LSE on Friday morning. Excellent stuff! I can start taking a look at these. |
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| Author: | offthelip [ Mon Feb 28, 2011 3:46 pm ] |
| Post subject: | Re: Original Turtles Rules |
IG index do offer a SMS alert service which allows you to set up an alert when a price reaches a certain level. I have used this, but I found it a bit of a drag to set up since you have to set each stock up individually, you can't use a screener with it. What I do now is I down load all the stock prices from Yahoo every 15 minutes, I check these against certain conditions and generate a short list, I then update the short list with realtime prices from Moneyam, if any of these meet the conditions I am looking for I then use a web based service with a XMLHTTP interface to send myself a SMS message which arrives within 2 seconds on my phone. All of this is done in EXCEL and the downloads are all free. If any other people are interested I can explain in more detail how I have done it, or may be I should start selling the software. This system has the advantage that the trigger to send a sms message can be much more complicated than just a price reaching a certain level , e.g. it could be a price going above the high of the last 4weeks or whatever the turtles rule was. This could be combined with some a test for increasing volume as well, so it is much more powerful than the IG service. I think I am going to give up trying this spread betting lark and just develop software, I am definitely better at that than spreadbetting and I can't even blame the tools. |
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