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Diversified Trend Trading Approach

  • #2,341
  • Oct 30, 2017 3:27pm Oct 30, 2017 3:27pm
Quoting Copernicus
{quote} Nice mate :-) IMO almost every tendency we have as humans is contrary to good trading discipline. Overtrading has been my major enemy in the past and I have consciously taken steps to control that propensity. Whenever I am about to enter I force a break where I evaluate the why? I continually remind myself that I can still catch every real trend even if I delay my entry and psychologically that seems to do the trick.
discipline...we all know it exists and how it's important in many areas of life, but do we need it as traders ?

I think that if you're comfortable with your system/plan, then automatically you will stick to it.
for instance right now I'm trading small trends, it is AMAZING because I don't have to get "married" to a position for long... so why should I overtrade ?

When I overtrade that means I don't know exactly what I'm doing.
the logical part of myself will say "lose fast, cause there is a better system out there". it's actually a good thing.. as long as I trade with money that I can afford to lose.

IMO what we really need is to be aware of our sensations, a sensation includes all senses.

If I sense that my plan s**ks I should be aware of that sensation, or if I lack faith in statistics, then I would simply rinse and repeat until I'm completely satisfied with my plan.

btw faith simply needs to be unlocked and set free, we all have it.
  • #2,342
  • Oct 30, 2017 9:10pm Oct 30, 2017 9:10pm
Quoting HeyYou
{quote} discipline...we all know it exists and how it's important in many areas of life, but do we need it as traders ? I think that if you're comfortable with your system/plan, then automatically you will stick to it. for instance right now I'm trading small trends, it is AMAZING because I don't have to get "married" to a position for long... so why should I overtrade ? When I overtrade that means I don't know exactly what I'm doing. the logical part of myself will say "lose fast, cause there is a better system out there". it's actually a good...
Nice H. You know when a strategy suits your personality when you just stop worrying about it.....and then that's when boredom kicks in which is the resulting symptom when you know your strategy is 'just right'. :-)
  • #2,343
  • Edited Oct 31, 2017 1:40am Oct 30, 2017 11:08pm | Edited Oct 31, 2017 1:40am
Attached File(s)
File Type: mq4 Dtt trade manager.mq4   506 KB | 277 downloads

I spent the weekend getting up close and aggravated with an EA builder called fxdreema...have to say its pretty awesome for code idiots like me.

I came up with this little EA for managing our trades.
Please make sure you get acquainted with this in demo mode before trying live, as stated i have absolutely no idea about coding and there still could be some bugs I haven't found yet!

Please note most functions are set to operate "on tick" so in slow markets things might appear to be slow to react.

Drag the EA onto a chart, make sure its an instrument with no open trades and make sure automated trading is enabled.
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Set your risk
%of account balance
Magic number,
Leave this as default if there are no trades on that instrument.
If you opening a second trade on the same instrument with a different SL insert the ea on a new chart and change this number so it is unique for that instrument.
Orders scope ,
Leave as "group" if there are no open trades or you are opening a new position and you have changed the magic number
If there is 1 trade that was "manually opened" change this to "manual" and the EA will manage that trade.
If there is more than 1 "Manually opened" trade open the ea will manage the stops of all the trades to the same trend line.
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Make sure your background is a darker colour because the EA changes your bars to white colour (I'm yet to work out how to make these colours selectable )
you should see this:
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Please note the risk box on the chart is just a display at this stage. you cannot change your risk from here....yet.

Draw a trend line and change its name to "exit"
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Draw a horizontal and change its name to "sell" for a sell or "buy" for a buy...Duh!
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Press the sell button and the bars change to red indicating that its locked an loaded. It will sell when price hits your sell line and place a stop on the exit line.
Press the sell button to cancel before price hits your line and the bars will turn white again.
for Buys the bars change to blue.
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you are free to move the lines around, lets move the sell line up and get filled.
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Now we are filled the bars change back to white and we are free to move the trend line around and the stop will stay attached.
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Sell Now and Buy Now buttons are self explanatory. Just be sure to have your exit trend line in place so it can calculate the position size based on risk
Happy trading and stay tuned for updates.
  • #2,344
  • Oct 31, 2017 2:02am Oct 31, 2017 2:02am
Quoting Copernicus
{quote} Nice H. You know when a strategy suits your personality when you just stop worrying about it.....and then that's when boredom kicks in which is the resulting symptom when you know your strategy is 'just right'. :-)
I have been a struggling trader for years and never felt bored.
I must say I find EDTT incredibly boring, hopefully I'm on the right track
  • #2,345
  • Edited 3:09am Oct 31, 2017 2:07am | Edited 3:09am
Quoting Copernicus
{quote} Nice H. You know when a strategy suits your personality when you just stop worrying about it.....and then that's when boredom kicks in which is the resulting symptom when you know your strategy is 'just right'. :-)

yeah I actually feel nothing about it.. just set and forget.

in my unique trading career I have spent 2000 hours backtesting automated systems, and 10 hours at most trading manually... the whole point for me is to "solve the puzzle" .


p.s. as usual, forgive my bad English.
  • #2,346
  • Oct 31, 2017 4:04am Oct 31, 2017 4:04am
One could say this is a time to dip after such rally .... not so.... BP in UK:

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Cut short your losses. Let your profits run on. David Ricardo (1772-1823)
  • #2,347
  • Oct 31, 2017 5:53am Oct 31, 2017 5:53am
Quoting Moof
{file} I spent the weekend getting up close and aggravated with an EA builder called fxdreema...have to say its pretty awesome for code idiots like me. .
Great tool for managing your trades Moof. Thanks very much. I think it is going to be extremely useful :-)

How is fxdreema these days? It was an awesome bit of software for coding illiterates like me a few years back, where the logic of the visual design made life very easy. I assume it now has many more bells and whistles.
  • #2,348
  • Oct 31, 2017 5:58am Oct 31, 2017 5:58am
Quoting HeyYou
{quote} yeah I actually feel nothing about it.. just set and forget. in my unique trading career I have spent 2000 hours backtesting automated systems, and 10 hours at most trading manually... the whole point for me is to "solve the puzzle" . p.s. as usual, forgive my bad English.
Nice mate. I tend to have a similar desire like you. The actual results are just icing on the cake for what attracts me to the game....namely the intricacies of system design. If you love systems and research...then automation is a great way to express yourself. I wish there were more of our breed on this forum as the forex community is far wider than just the traders. :-)
  • #2,349
  • Oct 31, 2017 7:41am Oct 31, 2017 7:41am
Quoting Copernicus
{quote} Great tool for managing your trades Moof. Thanks very much. I think it is going to be extremely useful :-) How is fxdreema these days? It was an awesome bit of software for coding illiterates like me a few years back, where the logic of the visual design made life very easy. I assume it now has many more bells and whistles.
I cant really compare it to a few years ago as I have only just started using it, but I can say I have barely scratched the surface of its capabilities. It is quite easy to do basic stuff but a good understanding of coding is still required for more complex tasks. there is a lot of brick walls to knock down....
Hhhmmm, now how do I attach trend lines to std dev Channels????
  • #2,350
  • Edited 9:32am Oct 31, 2017 9:22am | Edited 9:32am
Quoting Moof
{quote} Hhhmmm, now how do I attach trend lines to std dev Channels????
Why not overlay trend lines over the SDC. For example if you superimpose a trend line on the SDC outer line, then that will work as your trailing stop? When you redraw the SDC when it makes a higher high then just adjust the positioning of the trend line.

Your tool has all the criteria you need. It has horizontal lines for pending order entries and the initial stop positioning and then your trend line superimposed on top of the SDC acts as your exit (or trailing stop).

I do use a tool like you have developed for live trades on MT4 (which is proprietary to RedLineFred)....and it seems to do the trick.....but IG markets and the ProRealTime platform is already configured to live trade by charts that makes managing the EDTT a breeze.

Unfortunately I have been unable to fully automate EDTT. The problem arises in defining where to place the pending order entries and which swing low/swing high to commence the SDC from. If we could nail these two items in addition to being able for an EA to assess the quality of historic momentum, we have a fully automated solution. RedLineFred tried to fully automate the EDTT and got pretty close in a method of backwards iteration of the SDC to a major swing high/low...but inevitably we had to define a maximum look-back which was a problem that differed from our discretionary method.

I ultimately gave up on full automation and have had to accept that this strategy is simply destined for discretion. Ultimately the nuances required for discretion are significant to the overall performance of the strategy.....but I do hate having to attend to screen time at any time during the day and night when duty calls. It is ok for a few months or so....but you soon get sick of it.

Alternatively the EDTT is ideal for a group of traders to operate in sessions whereby you can operate under relatively short shifts.
  • #2,351
  • Oct 31, 2017 3:26pm Oct 31, 2017 3:26pm
GBP CHF rallies into Thursday BOE rate decision.... Looks good so far... Anybody in it? Or GBP JPY?

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Cut short your losses. Let your profits run on. David Ricardo (1772-1823)
  • #2,352
  • Oct 31, 2017 5:24pm Oct 31, 2017 5:24pm
It cannot go to zero, I don't think....

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Cut short your losses. Let your profits run on. David Ricardo (1772-1823)
  • #2,353
  • Oct 31, 2017 5:34pm Oct 31, 2017 5:34pm
Quoting Ramadas
GBP CHF rallies into Thursday BOE rate decision.... Looks good so far... Anybody in it? Or GBP JPY? {image}
New to the thread, but I've been lurking around... I was in the GBPJPY and GBPAUD trade went well...took tiny profits compared to you guys. Awaiting Thursday's BOE decision, 0.25% to 0.50% is the expectations, if so then I'll buy in again! Great work guys on the thread.
  • #2,354
  • Oct 31, 2017 11:14pm Oct 31, 2017 11:14pm
Quoting Copernicus
{quote} Why not overlay trend lines over the SDC. For example if you superimpose a trend line on the SDC outer line, then that will work as your trailing stop? When you redraw the SDC when it makes a higher high then just adjust the positioning of the trend line. Your tool has all the criteria you need. It has horizontal lines for pending order entries and the initial stop positioning and then your trend line superimposed on top of the SDC acts as your exit (or trailing stop). I do use a tool like you have developed for live trades on MT4 (which...
The problem with SDC's is that only the regression line is readable in Fxdreema. I am having a hard time working how to offset a trendline (overlayed over the regression line) X StdDev's but I'll persevere.
As it stands the EA already does more than I originally planned but I cant help myself to dig deeper.
I have been demoing Pro real time and agree that it is far more user friendly, I love the web based approach so you can open it on your laptop and you are right where you left off on your desktop.
Only issue for me is IG's minimum lot size of 0.10 doesn't tie in with my risk requirements for my tiny play money account. so it looks like I'm stuck with MT4 until I have increased my current account 10 fold.
  • #2,355
  • Oct 31, 2017 11:29pm Oct 31, 2017 11:29pm
Quoting Moof
{quote} The problem with SDC's is that only the regression line is readable in Fxdreema. I am having a hard time working how to offset a trendline (overlayed over the regression line) X StdDev's but I'll persevere. As it stands the EA already does more than I originally planned but I cant help myself to dig deeper.
I remember that the developer was always happy to receive input for further platform development so if you want to see the entire SDC in fxdreema you could always submit a request to him for further development. You may be lucky.


Quoting Moof
{quote} I have been demoing Pro real time and agree that it is far more user friendly, I love the web based approach so you can open it on your laptop and you are right where you left off on your desktop. Only issue for me is IG's minimum lot size of 0.10 doesn't tie in with my risk requirements for my tiny play money account. so it looks like I'm stuck with MT4 until I have increased my current account 10 fold.
Yep, their minimum lot sizes is an issue for a small capital account....so we are probably back to the MT4 options.

If you get stuck, then I could always ask Fred (RedLineFred) if he could be kind enough to update his EA to include all the required bells and whistles and encourage him to distribute it to you. Just let me know if you want me to pursue this option.....and I will try to catch him in a good mood :-)
  • #2,356
  • Oct 31, 2017 11:30pm Oct 31, 2017 11:30pm
Quoting ahsanforex
{quote} New to the thread, but I've been lurking around... I was in the GBPJPY and GBPAUD trade went well...took tiny profits compared to you guys. Awaiting Thursday's BOE decision, 0.25% to 0.50% is the expectations, if so then I'll buy in again! Great work guys on the thread.
Cheers A. Welcome aboard :-)
  • #2,357
  • Nov 1, 2017 2:57am Nov 1, 2017 2:57am
Quoting Copernicus
{quote} Nice mate. I tend to have a similar desire like you. The actual results are just icing on the cake for what attracts me to the game....namely the intricacies of system design. If you love systems and research...then automation is a great way to express yourself. I wish there were more of our breed on this forum as the forex community is far wider than just the traders. :-)
Yeah, I found that simple things work better, right now I'm using a line lol

maybe I have spent 50 hours trading manually, during which I I really worked hard to blow that account as fast as I could.

when I was a newbie... there I performed quite well, maybe because I was faithful

see you mate. I'm taking a break from this forum, it is really damaging, I'll post here from time to time... the only good thread on FF
  • #2,358
  • Nov 1, 2017 3:54am Nov 1, 2017 3:54am
Quoting HeyYou
{quote} Yeah, I found that simple things work better, right now I'm using a line lol maybe I have spent 50 hours trading manually, during which I I really worked hard to blow that account as fast as I could. when I was a newbie... there I performed quite well, maybe because I was faithful see you mate. I'm taking a break from this forum, it is really damaging, I'll post here from time to time... the only good thread on FF
Cheers mate. Keep in touch. :-)
  • #2,359
  • Nov 1, 2017 4:44am Nov 1, 2017 4:44am
{quote} If you get stuck, then I could always ask Fred (RedLineFred) if he could be kind enough to update his EA to include all the required bells and whistles and encourage him to distribute it to you. Just let me know if you want me to pursue this option.....and I will try to catch him in a good mood :-)[/quote]

Thanks for the kind offer, But I will keep on keeping on as I am still enjoying it.......at this stage.
  • #2,360
  • Nov 1, 2017 6:37am Nov 1, 2017 6:37am
Coming up to almost a year holding this beauty on D1 (DJI30). Absolutely crazy stuff but when you simply trade price, the underlying reality means nothing.

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Unrealised trades
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The Nikkei is once again showing some great momentum. Bless the mighty equity indices.

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