Finally, I understand correctly that, with respect to PRT, these type of indicators (the footprint chart by Horus) are not really suitable for using the way they are probably meant to be used (regarding data input)? And if a footprint chart is provided in PRT, it is probably done in such a fashion that the output of this indicator is not how it should be?
Hi Michael – is that the question you refer to ? If so :
No, the footprint “chart” is made by CME itself (the exchange) and is used by PRT. There is nothing much wrong with it that I can see (but it is a bit limited IMO), but it is not about that; it is about the the “indicators” as such are not exposed to the ProOrder system. So you can look at it and trade with it manually, but you can’t used it in Program Code (not even in Indicator Code).
In conclusion, what I tried to bring across is that
a. the data is not really in there (or not exposed) to make anything out of it ourselves;
b. with a lot of creativity we can derive the relevant data (which is in the tick(s) realm) and make something of it ourselves after all (Horus did that, JC_Bywan did that);
c. because this is in the Indicator environment, we still can not use that in ProOrder.
Ad c., example : we can do anything with tick data which is a requirement here, but at the level of ProOrder we can not make trades by means of tick data – we can only use time based data (e.g. the volume of a 1 bar second).
There is also technical anomaly involved, but this is nothing for me to express about because I did not try it myself for real other than by “more faked” (even more derived) data. But example : if the manipulation with / via arrays takes so long that in one 1 second the program can’t finish (called each bar) then we have serious problems if the bar is 1 second long.
Subjective (very personal opinion) : If you would use the Footprint for AutoTrading, even included Indicator data like the close of the last day and all what belongs and you would use balancing for setting up your next day trading, then IMHO this brings nothing much. Repeating : currently that can be done by means of Horus and JC_Bywan (PRT’s indicator is / can not be of use here). But what I try to say is : you may execute a couple of trades per day (like 6 to 8), manually win 4-6 of those, while with AutoTrading you would not know where to begin because this is all visuals for the wind-off of it. At least I myself wouldn’t know how to do it or even where to begin, which to myself tells a lot. This combines with AutoTrading I sure have and which may trade 10-20 times a day with 10 fold the number of pips gained. That happens in the exact same time span (although, maybe not because that trades 23 hours a day while the Footprint stuff would incur for 6.5 – 8.5 (stock opening) hours or whatever it is per exchange). Summarized : where the Pro trader is waiting for the markets to open, my trades occur in ad-hoc basis and earn more on top of it. This is Manual, but especially Auto. Of course this incorporates beating the Pro’s.
Read the commercial stories on “How to trade like a Pro in order to beat your Retailer friends”. You can twist this again into “Know how the Pro trades and beat him/her with it”.
If you are a Pro you will know what I mean. How that can be beaten is up to your creativity.
Regards,
Peter
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