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Forex Trading Philosophy 362 replies

ATP - The Regurgitation to Wave Riding 27 replies

What's your basic logic/philosophy for trading in simple words? 6 replies

Simple Trading Philosophy - Daily Trend Following 5 replies

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Attachments: ATP (Advanced Trading Philosophy) - Phasing into Income Potential
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ATP (Advanced Trading Philosophy) - Phasing into Income Potential

Damonl, the new system has been backtested too and it is quite ok but the rules are not explicit. Well, I believe the SWI is still the best. The SWI rides over the AO in all cases.

After much thought and hardwork over this weekend while putting the EA together, I believe trading on the Daily chart with the SWI only is enough. There are clear signal by the SWI and if we even use the SWI crossing over the 0 line for exit we won't be losing much and infact in most cases we won't lose.

If the SWI goes above 0.0 then we can buy and immediately it hits back at 0.0 close all trades and pending orders.

I am just thinking that what we should do is to work on this system to earn us good profits.

If we keep searching, then we will find millions of indicators out there and if we are to keep building various systems then we would die trying because there is no perfect system. For me, the SilverTrend and SWI are good inidicators showing the market trend.

I believe we should only work on crosses over the 0.0 line as for the repainting.

Then I am thinking of taking multiple trades i.e. scalping on dailies across all 14 currency pairs i.e. open pending orders everyday like we used to and set TP. Open another according to Damonl i.e. everyday place new orders. All pending orders should not be closed until there is a reversal in trend i.e. colour change or cross of the SWI above or below 0.0 as the case may apply.

Finally, at the beginning of the trend, we will place an order which will only be closed at the end of the entire ride.

I will make signal for them too just let me know once the rules are ok for the improvement.

Does anyone have scripts that closes all trades including pending orders?
Trading Just Got Easier...
Quoting walesoje1
Damonl, the new system has been backtested too and it is quite ok but the rules are not explicit. Well, I believe the SWI is still the best. The SWI rides over the AO in all cases.

After much thought and hardwork over this weekend while putting the EA together, I believe trading on the Daily chart with the SWI only is enough. There are clear signal by the SWI and if we even use the SWI crossing over the 0 line for exit we won't be losing much and infact in most cases we won't lose.

If the SWI goes above 0.0 then we can buy and immediately it hits back at 0.0 close all trades and pending orders.

I am just thinking that what we should do is to work on this system to earn us good profits.

If we keep searching, then we will find millions of indicators out there and if we are to keep building various systems then we would die trying because there is no perfect system. For me, the SilverTrend and SWI are good inidicators showing the market trend.

I believe we should only work on crosses over the 0.0 line as for the repainting.

Then I am thinking of taking multiple trades i.e. scalping on dailies across all 14 currency pairs i.e. open pending orders everyday like we used to and set TP. Open another according to Damonl i.e. everyday place new orders. All pending orders should not be closed until there is a reversal in trend i.e. colour change or cross of the SWI above or below 0.0 as the case may apply.

Finally, at the beginning of the trend, we will place an order which will only be closed at the end of the entire ride.

I will make signal for them too just let me know once the rules are ok for the improvement.

Does anyone have scripts that closes all trades including pending orders?
Boy do I like that Williams Percent with -80, -20 levels. I think this could be another trade as well as an additional exit rule.
"Keep your eyes on the helpers" - Mr. Rogers
Quoting damonl
Boy do I like that Williams Percent with -80, -20 levels. I think this could be another trade as well as an additional exit rule.
At a second glance, I think we should make the Williams % (14) Levels -80, -20 as another Exit Rule only.
"Keep your eyes on the helpers" - Mr. Rogers
Hey walesoje thx for the great indicator. The only problems i have seen in it are that it makes loading MT4 a bit choppy..it freezes the platform for 10-20 seconds when you open it..Other than that realy nice work, i will surely use it.

Quoting walesoje1
Does anyone have scripts that closes all trades including pending orders?
Not exactly..i have an EA wich closes all open trades when a given Equity level is reached. I'll attach it on this message.


There is something i'm not sure about..you said you backtested the system and it works also with only the swi..but since the SWI is a repainting indicator shouldnt past data be always faulted? I think back testing would show a completely different picture, because the repainting makes it look like the indicator is always right..
Attached Files
File Type: mq4 CloseAllAtEquityLevel.mq4   5 KB | 149 downloads
File Type: ex4 CloseAllAtEquityLevel.ex4   5 KB | 151 downloads
  • Post #185
  • Quote
  • Edited at 5:04am Apr 28, 2008 4:13am | Edited at 5:04am
Why is AU short if Solarwind is blue? Looks like an uptrend
USDCAD nonlag is red on weekly also and I have long.

Lots seem to be going against the weekly nonlag colour, why is that?

The spreadsheet also doesn't say whether it's a Strong trend or weak one.

Also what about all open orders, it's only showing one order.

Can u write something next to them to clarify the trades like u did before? some are also just blank

Seemed a lot better before. Maybe you could just post the trades on the first post of the thread.
Hey walesoje1, I know this is sort of off topic with the system, but I was wondering if it was possible to make a SWI indicator that shows levels with with Solar Indicator at all time frames, (and maybe NL if you are feeling nice), I think you did program that indicator, but I mean with all the indicators made it is really confusing.

I am going to make a new ATP PDF, things are a tad bit confusing, but I think for now the rules are set with the Bill Williams AO, and SWI, I think this might work out well, I still have more testing to do.

But as for the trader who traded with 15 min timeframe, I would really like to experiment this lower time frames with this indicator, if you dont mind walesoje1 could you possibly program the indicator that shows SWI, and maybe NL in all time frames, so I can look at all 14 currencies and not have to constantly switch through charts, just makes my life easier. I would really appreciate it.

Thank You Again.
TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
What I have noticed about this indicator is that the SWI seems to repaint to the line crossing the -50 level of this indicator.

This means that it is possible to use the William % instead of the SWI and be able to get some earlier entrances by using the -20, -80 levels.

Good observation guys
"Keep your eyes on the helpers" - Mr. Rogers
Check one of my posts above. I think I have your request posted already.



Quoting TheLegace
Hey walesoje1, I know this is sort of off topic with the system, but I was wondering if it was possible to make a SWI indicator that shows levels with with Solar Indicator at all time frames, (and maybe NL if you are feeling nice), I think you did program that indicator, but I mean with all the indicators made it is really confusing.

I am going to make a new ATP PDF, things are a tad bit confusing, but I think for now the rules are set with the Bill Williams AO, and SWI, I think this might work out well, I still have more testing to do.

But as for the trader who traded with 15 min timeframe, I would really like to experiment this lower time frames with this indicator, if you dont mind walesoje1 could you possibly program the indicator that shows SWI, and maybe NL in all time frames, so I can look at all 14 currencies and not have to constantly switch through charts, just makes my life easier. I would really appreciate it.

Thank You Again.
TheLegace.
Trading Just Got Easier...
You guys have really created a monster here. If you add one more rule or acronym it will explode. Seriously, I think you are going down a path to destruction. The blind are indeed leading the blind.
Damonl,

I saw something new again. There could be signals which won't really indicate exits for us on the Williams Percentage if we are using the -80 and -20 crossing as our exit points only. I suggest our exit point should be complemented by -50 too. When the signal line doesn't get to either -20 or - 80 before turning back then we can always exit the market at the cross of -50. This rarely happen but it does.

Another observation I have is as regards the use of the AC (Awesome Oscillator). This has made me thought of taking trades in another dimension.

This won't leave us out of any trade(s) at all except for a day or 2 in the whole of a month as compared to other systems we have been using.

The whole idea is just to enter trades even if not in line with the trend using only the NL and AC. I would call this a NLACCT (NonLag Accelerator Oscillator Countertrend Trade). This should be placed if the SWI is Green and NL is Yellow pointing down(i.e. trying to change colour to Red) and the AC has changed colour to Red. This trade should be placed like all our normal trades too. Use small lot sizes like 0.25 for $10,000. Once there is a signal in the NL or AC, just close all the NLACCT including the pending orders and place order in the other direction. As This May Sound Like A CounterTrend, all of you should check which is stronger Amidst This And SWI. I take this to be the normal trade because it signals the beginning of a new trend asap.

During this process, if the SWI agrees with both Indicator then you can multiply your lot sizes by 16.

If the SWI does not agree with both indicator before the NL signaled again then we are still returning to the normal market trend just apply the rules above for increasing lot sizes.

If you think this is ok just let me know.
Trading Just Got Easier...
ftraderx,

There is no monster here. Let me give you the whole load down.

At the signal of a NL just wait for Accelerator Oscillator signal to the same trend then place order in that direction. Exit at the signal of NL and AC. Place order with small lots here.

Now, SWI would be considered if both NL and AC agrees with it. Just place order with higher lots.

Damonl, I think there is no need for the Williams Percentage. Check your W%, NL and AC and you might not feel the need for it again.

Let me know what you think.


Quoting ftraderx
You guys have really created a monster here. If you add one more rule or acronym it will explode. Seriously, I think you are going down a path to destruction. The blind are indeed leading the blind.
Trading Just Got Easier...
Guys,

AC - is Accelerator Oscillator (or Accelerator/Decelerator Oscillator)
AO - is Awesome Oscillator

Although both is peg on the 34MA, they have different calculation methods. Please clarify which to use as you indicate AC and yet identify it as Awesome Oscillator on some posts, and then, Accelerator Oscillator on others. This is just to avoid further confusion.

Whatever you see here is Accelerator Oscillator.


Quoting rsbgm
Guys,

AC - is Accelerator Oscillator (or Accelerator/Decelerator Oscillator)
AO - is Awesome Oscillator

Although both is peg on the 34MA, they have different calculation methods. Please clarify which to use as you indicate AC and yet identify it as Awesome Oscillator on some posts, and then, Accelerator Oscillator on others. This is just to avoid further confusion.

Trading Just Got Easier...
Quoting ftraderx
You guys have really created a monster here. If you add one more rule or acronym it will explode. Seriously, I think you are going down a path to destruction. The blind are indeed leading the blind.
I agree...no monster. Come back later when we have it down pat. In the mean time we have work to do.
"Keep your eyes on the helpers" - Mr. Rogers
Quoting walesoje1
ftraderx,

There is no monster here. Let me give you the whole load down.

At the signal of a NL just wait for Accelerator Oscillator signal to the same trend then place order in that direction. Exit at the signal of NL and AC. Place order with small lots here.

Now, SWI would be considered if both NL and AC agrees with it. Just place order with higher lots.

Damonl, I think there is no need for the Williams Percentage. Check your W%, NL and AC and you might not feel the need for it again.

Let me know what you think.
I found our error in judgement. I will have to post it tonight, but we need to find the bigger trends and stay in them. I had a serious aha moment when I woke this morning.

Can you work on this indicator.

SWI Weekly on close of last bar
AC Daily on close of last bar
AO Daily on close of last bar

I have no time now, but we are definitely moving in the right direction.

Please remeber folks that this is just a journal to help us through some of the challenges to finding a great and successful system.

Rome was not built in a day and neither is this. I will continue to put my ideas down on this forum.

Everything is still in motion, but coming to a conclusion very soon.
"Keep your eyes on the helpers" - Mr. Rogers
Your post 190 indicated Awesome Oscillator... But, at least, it's now clear that it's AC - Accelerator Oscillator. I don't mean to offend you or anything, this is just to clear for everyone esp the noobs reading.

PEACE!

Quoting walesoje1
....

Another observation I have is as regards the use of the AC (Awesome Oscillator). This has made me thought of taking trades in another dimension.

....
Quoting damonl

Indicators and Charts:

For this we will only need the D1 chart and the SWI indicator v3 (settings as we currently have them) along with Bill William's Accelerator Oscillator

We should use are normal entrance rules when placing orders.
I have a question to ask - do we still use the weekly NL and SWI indicators to identify the trend or are they now completely non-essential for this latest method?
I will try to do that shortly.

Will be waiting for the new upgrade from you.

Waiting till then....




Quoting damonl
I found our error in judgement. I will have to post it tonight, but we need to find the bigger trends and stay in them. I had a serious aha moment when I woke this morning.

Can you work on this indicator.

SWI Weekly on close of last bar
AC Daily on close of last bar
AO Daily on close of last bar

I have no time now, but we are definitely moving in the right direction.

Please remeber folks that this is just a journal to help us through some of the challenges to finding a great and successful system.

Rome was not built in a day and neither is this. I will continue to put my ideas down on this forum.

Everything is still in motion, but coming to a conclusion very soon.
Trading Just Got Easier...
Can someone answer my queries and if possible confirm last nights trades plz.
  • Post #200
  • Quote
  • Edited at 10:16am Apr 28, 2008 9:18am | Edited at 10:16am
Quoting Catch-22
Can someone answer my queries and if possible confirm last nights trades plz.
I too was surprised at the short pending order for AU but my guess is Damonl was probably using the latest method to trade from daily chart, and the previous bar (in this case he took Friday's bar) has SWI and AC in the same color (i.e. red) therefore he placed an short pending order at 1 pip below the lowest price at 0.9288.
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