Update: 930 pm EST, Wednesday, December 14, 2016
Today's pips (closed positions) = -166
Cumulative pips to date: -166
Today's pips (closed positions) = -166
Cumulative pips to date: -166
Indicator-Based Trend trading 104 replies
EA based on indicator which changes based on numbers of bars 0 replies
Trading Price Based Charts Instead of Time Based Charts 1 reply
Volatility based trading 11 replies
Price-based Vs. Pip-based 5 replies
Disliked{quote} Hi Dave: I just came across this thread. May I ask why you stopped posting to it? Do you still use it?Ignored
Disliked{quote} Because there are no fancy charts used by OP and forum members like charts to chit chat their whole life on forums to keep themselves busy from "making money". Kudos to Mr. Lansing. I wish all thread were like this.. short, sweet, too the point, share what you do and let people make their own conclusions whether a strategy works or not ! I LOVE IT.Ignored
Disliked{quote} Hi Dave: I just came across this thread. May I ask why you stopped posting to it? Do you still use it?Ignored
Disliked{quote} Hi Hambone, I still trade this way, and it is still profitable, but you have to consistently monitor the positions in order to make the necessary adjustments to the trailing stoploss - this was, and still is, very challenging since I work full time. I also increased the number of pairs traded for diversification reasons, and overall, this made the constant monitoring and daily updating of the Journal very time consuming. ...Ignored
Disliked{quote} Thanks for the response Dave. I'm not a programmer but it seems that it should be rather simple to write an EA that could manage the trade for you once you dropped it on the chart. .Ignored
Disliked{quote} Hi Hambone, I don't use MT4/MT5 so an EA is out of the question for me... I use an Excel spreadsheet kindly provided by INFJTrader (post 24) to keep track of the target levels. Good luck and let me know how it works for you! Best, DaveIgnored
Disliked{quote} Hi Hambone, I still trade this way, and it is still profitable, but you have to consistently monitor the positions in order to make the necessary adjustments to the trailing stoploss - this was, and still is, very challenging since I work full time. I also increased the number of pairs traded for diversification reasons, and overall, this made the constant monitoring and daily updating of the Journal very time consuming. I was going to start a TE on MyFX but never got to it. I will say that to use this method effectively you have to get...Ignored
Disliked{quote} Got it. Regarding the spreadsheet, I downloaded it and input the current prices/ATR values as well. Correct me if I'm wrong but it looks like his formulas for the Target 1 (BE) was not calculating correctly (and thus the subsequent targets as well). As I understand it, Target 1 (BE) should start at the entry +/- (ATR *0.4*Pip Increment). So on his spreadsheet, Target 2 should actually be Target 1 (BE), Target 3 should be Target 2, etc, etc. Please correct me if I am wrong.Ignored
DislikedCurrent Trades; details of the trading approach are described in post#1. ATR(20) is the ATR for the previous 20 weeks. ... I have setup a Trade Explorer on MyFX. Best, Dave {image}Ignored
Disliked{quote} Yes. Although now The AUDCAD trade is almost to Target 2. Re-entry trades were triggered on the sell side for both GBPJPY and EURUSD, and both are ready to hit their respective SL (although the $ loss for both trades will be half vs. the initial trades).Ignored
Disliked{quote} Thanks for the spreadsheet. Let's assume they get stopped out a second time. What do you do then...let them go for the week and not trade them or reset and try it again using the same rule set?Ignored
Disliked{quote} Any strategy that does not work on all time frames or across all Pairs is considered "optimized" and prone to failure in the long run.Ignored
Disliked{quote} Hi Hambone, You are right. I've uploaded the corrected spreadsheet. Once Target 1 is reached, for either a buy or sell, the initial SL is moved to BE (Target 1 is +/- 0.4*weeklyATR(20) from the entry price). In addition, there was a miscalculation of the re-entry buy/sell price levels for the GBPJPY pair. Hopefully, all of the errors have now been corrected. Best, Dave {file}Ignored