My Trading Rules Part 2(The First Rule)

First of all, I was not able to continue the previous post because I was busy with the creation of the python program that I will use for trading and now that it is useable(at least), I decided to continue the post now. 

But before the rules, let me show here the python app that I have created, please note that this is a work in progress so most features of the app is still not available. Here is the screenshot:

The particular feature of the desktop app ist that it is able to display 6 different indicators which I will use mainly for my weekly trading(yes, I will place/exit trade at least 5 days. The 6 indicators consist of trend reversals(MACD, Moving Average, Bollinger Bands) and oversold/overbought(Relative Volume, RSI, Stochastic Oscillator). And I just revealed my first trading ruile and I consider it to be the ultimate rule. 

So as my number 1 trading rule,  at least 4 of the 6 indicators should be enough to convince me to trade sell/buy position. But it would be best if 5 or 6 of them indicates otherwise. Using it as a rule builds 60% confidence on my part. I will also post separately how I interpret each of the indicators. 

What to expect in my upcoming posts?

Well, after working on the 6 indicators , the selection screen and the minor Ticker Stats(I choose the stats randomly, it really has no use for me, LOL!), my next assignment is to create a trade back testing platform. This new feature will allow me to simulate how profitable the trade will be using historical data. It should be able to compute how much I earn, show when the entry/exit on the chart. Of course it was just a simulation, but it will somehow build additional 10% confidence.

In case you are interested to ues the desktop app I created, I have uploaded the code at my github page. You may download it here. And if you are a developer and want to learn how the code works, I have severa sample program that I used to construct the screens and these are the links:

1. Combobox - Checkbox, Radiobutton and ComboBox in PyQt6

2.  Date Edit Box - Date Edit Box with calendar Dropdown in PyQt6

3.  Data Grid - Making Datagrid Read Only with PyQt6

4. Charts - Matplotlib with PyQt6

5. Labels - Label with PyQt6

 

The desktop app had unique scenarios not present in the blogposts I mentioned above so it will be a great learning programming experience for developers. Please do note that at this stage, I did not mind the perfrormance tuning of the program since it is on prototyping stage. It is not fancy either but it is useable.