DislikedI may be wrong, but as the price on the GBP is 1.9###, the ATR range you have is from 0.011# to 0.014#.
So 110-140 pips, you just have to add the final decimal.Ignored
Kind Regards
Steve
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DislikedI may be wrong, but as the price on the GBP is 1.9###, the ATR range you have is from 0.011# to 0.014#.
So 110-140 pips, you just have to add the final decimal.Ignored
DislikedThanks for the support - I know you started trading live at probably the worst time so you're a credit to yourself for still being so positive about the future
Just going to post my weekly update then I've got a question about the ATR stop loss for you.
Laters
SteveIgnored
DislikedHi karmostaji,
OK, I understand I don't need to place this on the charts but how do I get the actual ATR value? On the attached chart I've got GBPUSD daily with an ATR at the bottom period 20, ranging from 0.011 to 0.014. What do these figures mean and how do you calculate the ATR value from that?
I've worked at the bank for nearly 20 years but maybe my last two brain cells are waving goodbye to one another
Please explain in words that a 10 year old can understand (then my youngest can explain it to me lol)
Cheers bro
SteveIgnored
DislikedNo problem Steviet! You´re welcome. Sticking to your plan wins the race in the long run. And you are here for the long run ,right? Kudos to you!
BluefishIgnored
DislikedHi Steve!
Just my .02pips... you may want to consider opening a demo account at one of the free, unlimited brokers that offer MetaTrader. I was with Oanda for a couple of months, but just went to IBFX due to Oanda's very limited charting software. I was using MetaTrader in demo status to set up my trades for a while (something you may want to consider) but got tired of dealing with two different platforms.
MetaTrader is excellent and comes with pretty well everything you could ask for out of the box. On top of that there is excellent community support available for new indicators & systems (there are some excellent indicators that will plot ATR stops right on the chart if you wanted to experiment with it).
Anyways, if you wish to take a look, both Interbankfx & Alpari offer free, unlimited demos.
If you have already seen Metatrader then please ignore the above!!!
Take care,
DerekIgnored
DislikedSteve, Strategybuilderfx and Admiral Investments have free, non-time limited MT4 demos.Ignored
DislikedThe north finance demo doesn't expire (if you use it regular) and you get a new candle at 10.00PM GMT which should suit your setup.Ignored
DislikedHi Derek,
I have seen & used MT4 demo in the past - is it still the case that the demo's with most brokers only last 30 days (apart from IBFX & Alpari)? If so, that would be a bit of a pain for any sort of longer term testing. Although Oanda isn't MT4, at least the demo doesn't have these restrictions.
I was just a little curious about ATR but as you know I'm trying to trade without indicators if I can help it. I guess I was trying to look for other options because the choppiness was killing me but I must stick to my guns with the live trading until the year is complete. After all, nearly four months have passed and I'm still in profit
Thanks again
Kind Regards
SteveIgnored
Dislikedi was gonna suggest that you hone your price action skills to avoid the chop. no need to add indicators. or if you need to then add back trend lines - look at my GU chart again to see how you could do it!
i for one don't trust these indicators and don't think you need them at all!!!Ignored
DislikedSteve,
If you hit your goal for the year, I am not sure you shouild change anything. Of course you can play around with a demo account and back test different modifications to the system.
But, trying to address choppy market conditions? I am not certain that is possible. Let's face it if you are hitting even an average of 5% increase (monthly) then I would say your system already addresses that.
I just hear a lot of suggestions on this thread. The truth is this if you hit your goals this year you will have accomplished far more than most making suggestions. So of course keep an open mind but also have confidence in your system for the long haul. You have already achieved some great things with your current system so stay focused on that...
All the best,
JackieIgnored
DislikedI'm slowly coming to the conclusion that you are right - if I can prove to myself that I can average 5-10% a month over a year then that would be a rousing success as far as I'm concerned.
Ignored
DislikedIf you can average only 5% you will have more than doubled some of the best preforming funds and if there is anyone here thats not happy with those type of returns GOD for bid stop trading and just go to Vegas and roll the dice.Ignored