{quote} Yes or apply Fibonacci ratios. With the application of renko I'm assuming that you are disregarding any fundamental inputs and applying a pure manual and technical approach. Masterrmind.............
- #745
- Jun 25, 2018 9:23pm Jun 25, 2018 9:23pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{image}
Masterrmind............
Master your Mind then Master your Trades
- #746
- Jun 25, 2018 10:00pm Jun 25, 2018 10:00pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
H1 TF [128/120/0]
Next TS Order 3 will be traded very soon.
Symbols for this cycle have been chosen based on previous highest positive outcomes shown in Post 736.
Then 3 TS sets have been created.
Direction of Symbol is based on a combination of MML Grid current price location and meeting a triangulated format.
Risk per Trade will be 0.2%
SL Octive Gap Multiplier will be 1.5
Max Risk over all 9 entries is about 1.8% (0.2% * 9 trades).
Entries will be at market wherever possible whilst other entries will be via pending orders.
TS Order 3-#3-S2
TS1: AUDCAD + EURAUD = EURCAD
TS2: EURGBP + EURUSD = GBPUSD
TS3: GBPJPY + GBPNZD = NZDJPY
All trade entries will be shown including the trade terminal entries.
Masterrmind............
Next TS Order 3 will be traded very soon.
Symbols for this cycle have been chosen based on previous highest positive outcomes shown in Post 736.
Then 3 TS sets have been created.
Direction of Symbol is based on a combination of MML Grid current price location and meeting a triangulated format.
Risk per Trade will be 0.2%
SL Octive Gap Multiplier will be 1.5
Max Risk over all 9 entries is about 1.8% (0.2% * 9 trades).
Entries will be at market wherever possible whilst other entries will be via pending orders.
TS Order 3-#3-S2
TS1: AUDCAD + EURAUD = EURCAD
TS2: EURGBP + EURUSD = GBPUSD
TS3: GBPJPY + GBPNZD = NZDJPY
All trade entries will be shown including the trade terminal entries.
Masterrmind............
Master your Mind then Master your Trades
- #747
- Jun 25, 2018 10:23pm Jun 25, 2018 10:23pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
Trade Setup as follows:
Entry Time: LO-4 hours (approx)
AUDCAD
EURAUD
EURCAD
EURGBP
EURUSD
GBPUSD
GBPJPY
GBPNZD
NZDJPY
Terminal Entries
Note: Most trades are at market entries, all except for EG and GJ.
Masterrmind............
Entry Time: LO-4 hours (approx)
AUDCAD
EURAUD
EURCAD
EURGBP
EURUSD
GBPUSD
GBPJPY
GBPNZD
NZDJPY
Terminal Entries
Note: Most trades are at market entries, all except for EG and GJ.
Masterrmind............
Master your Mind then Master your Trades
- #752
- Jun 26, 2018 9:30am Jun 26, 2018 9:30am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
Just giving a 15 pip Renko style trade ago {image}
Masterrmind............
Master your Mind then Master your Trades
- #753
- Jun 26, 2018 10:17pm Jun 26, 2018 10:17pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
TRAILING STOPS
How might trailing stops be applied to the MTTTM strategy ?
1. One reason for applying them is to limit the number of losses.
2. Another reason might be to bring a position's SL to BE asap so that additional positions or pending orders can be applied dynamically.
When a trailing stop is applied it also has the possibility of limiting the number of full target TPs because PA can reverse and take out tighter stops.
The application of Trailing Stops will be explored in greater detail both in a manual and auto trading approach.
Opinions are welcome.
Masterrmind............
How might trailing stops be applied to the MTTTM strategy ?
1. One reason for applying them is to limit the number of losses.
2. Another reason might be to bring a position's SL to BE asap so that additional positions or pending orders can be applied dynamically.
When a trailing stop is applied it also has the possibility of limiting the number of full target TPs because PA can reverse and take out tighter stops.
The application of Trailing Stops will be explored in greater detail both in a manual and auto trading approach.
Opinions are welcome.
Masterrmind............
Master your Mind then Master your Trades
- #754
- Jun 26, 2018 10:19pm Jun 26, 2018 10:19pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
GBPUSD [H1 Chart]
Loss trade
-0.2%
Masterrmind...........
Loss trade
-0.2%
Masterrmind...........
Master your Mind then Master your Trades
- #755
- Jun 27, 2018 7:22pm Jun 27, 2018 7:22pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
NZDJPY [H1 Chart]
Loss trade
-0.2%
Masterrmind............
Loss trade
-0.2%
Masterrmind............
Master your Mind then Master your Trades
- #756
- Jun 27, 2018 7:25pm Jun 27, 2018 7:25pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
AUDCAD [H1 Chart]
Loss trade
-0.2%
Masterrmind...........
Loss trade
-0.2%
Masterrmind...........
Master your Mind then Master your Trades
- #757
- Jun 27, 2018 9:49pm Jun 27, 2018 9:49pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
TRAILING STOPS How might trailing stops be applied to the MTTTM strategy ? 1. One reason for applying them is to limit the number of losses. 2. Another reason might be to bring a position's SL to BE asap so that additional positions or pending orders can be applied dynamically. When a trailing stop is applied it also has the possibility of limiting the number of full target TPs because PA can reverse and take out tighter stops. The application of Trailing Stops will be explored in greater detail both in a manual and auto trading approach. Opinions...
AUDUSD [Example trailing - Long side]
Trailing by an octive gap.
Trailing can be applied manually by the trader adjusting the SL price value but the trader must be at or near the terminal as required.
Trailing can be applied in the MT4/5 settings using "Trailing Stop" but the platform must remain open.
Trailing can be applied via a script or Expert Advisor (MT4/MT5) but the platform must remain open.
For single or low number of pairs being traded a manual trailing approach is possible but somewhat inconvenient.
For multiple pair trading a manual trailing approach is simply inconvenient.
Good trading,
Masterrmind............
Master your Mind then Master your Trades
- #758
- Jun 28, 2018 12:37am Jun 28, 2018 12:37am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} Trailing ... continued AUDUSD [Example trailing - Long side] {image} Trailing by an octive gap. Trailing can be applied manually by the trader adjusting the SL price value but the trader must be at or near the terminal as required. Trailing can be applied in the MT4/5 settings using "Trailing Stop" but the platform must remain open. Trailing can be applied via a script or Expert Advisor (MT4/MT5) but the platform must remain open. For single or low number of pairs being traded a manual trailing approach is possible but somewhat inconvenient....
AUDUSD [Example trailing - Short side]
Advantage of trailing with only 1 octive gap is that in a strongly trending market with less than an octive pullback plenty of the move is captured.
Disadvantage is that in a 'whippy' market the trade might be taken out early resulting in a missed opportunity to grab more profit.
There are many different approaches that can be taken when applying trailing stops.
The difficult part is deciding which trailing method is the 'best' one.
Since trailing stops are applied before the fact, it is never possible to know which approach will be the best !
What we can do though is form an expectation on the likely flow of price for a given pair over a preferred trading session based on the OctiveGap.
An appreciation for the typical PA within the OctiveGaps of the MML Grid can be found by observing historical charts.
Excel can be used to manually enter the data and then an analysis can be completed.
Alternatively, an informative indicator could be coded with suitable inputs that allows for the collection of a preferred range of data.
The gathered data could also be transferred to Excel from the indicator and analyzed if required.
There are plenty of tools that could be used but the bottom line is deciding how far one should go with this type of analysis.
For example, if a trader is very confident in the Trading Method and the Reward to Risk ratio being applied then waiting until price moves say 2 or 3 octives before locking in at BE+ pips(to cover: spread,commision,swap) might be the best approach.
A trader could also form an expectation as outlined above about the volatility of a given pair and seek to trail at a tighter gap.
The Trailing Stop discussion is provided here since it will be applied to the MTTTM strategy.
Testing may be performed in the background with key outcomes posted to this thread.
This motivation comes from analyzing the demo trading account and looking for techniques that might reduce losses and contribute to Equity% gain.
Masterrmind..............
Master your Mind then Master your Trades
- #759
- Jun 28, 2018 10:39am Jun 28, 2018 10:39am
- Joined Jun 2006 | Status: Adios! | 3,377 Posts
Staying in my lane...
- #760
- Jun 28, 2018 11:18pm Jun 28, 2018 11:18pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} Just stopping by to offer my appreciation for a well thought out post#1. I hope others can learn how to write such structured posts that gives their readers a snapshot of all aspects of their system. Thanks!
That comes from being both a mathematician and an engineer.
Logical, systematic and structured for the most part.
Then when it comes to trading there are times when you have to throw logic out the window and simply follow price !
Good trading,
Masterrmind.............
Master your Mind then Master your Trades