Profitunity (Chaos) Trading System by Bill Williams

Quoting dlftrader

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ISTO:
Re post #58. Didn't you mean "ZT" (zone trade) rather than "BL" (balance line) re Williams saying take no more signals after a 5th consecutive green AO bar?
...\larry.bye

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Quoting amaruenterprise

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Hi larry,
Do you just trade forex with Bill's profitunity or other markets too? How has it worked out for you in forex? Thanks in advance for your reply....

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DateSignalPriceSLP/Llots:
01.5.2007 03:55DB1.11071.1105-0.00021
01.5.2007 20:05DB1.11111.1105-0.00061
01.5.2007 20:05F1.11161.1105-0.00115
02.5.2007 04:12AO, AC, Z1.11231.1105-0.00184

[b]DateSignalPriceSLP/Llots:[/b]
01.5.2007 17:21f1.21091.21300.00211
02.5.2007 07:19f1.21731.2130-0.00435

Quoting dlftrader

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Here is something that may interest some of you re the 1st and 2nd Wise Men that were introduced in Trading Chaos, 2nd Edition. They may be more useful as filters than entry signals. One of my trading strategies for the M5 time frame is to nest a buy order above the VFH when the AO bar is green, and to nest a sell order below the VFL when the AO bar is red... whether or not the AO bar is positive or negative. Could more pips be captured if I required any entry signals generated by the 1st or 2nd Wise Men to have been hit before nesting a 3rd Wise Man order? In other words, would a signal failure by the 1st or 2nd Wise Men keep me out of more loss or low profit trades? I started looking at this because I am reluctant to enter a trade on the wrong side of the Alligator... most of us old-time Profitunity disciples likely are having trouble with that!
...\larry.bye

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Quoting dlftrader

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Jim No:
I apologize for the tardy response... I've been off playing grandpa.

First, my position sizing and risk management rules tell me exactly my lot limit for a trade; and for me "a trade" begins when I get on board a directional move and includes any subsequent add-on lots. A trade is opened only on a signal from one of the Three Wise Men. Here is how I normally allocate that lot limit:

1. By my rule, I commit only 1 lot per buy/sell signal.
2. Once a trade is opened, a signal is valid only if its fill will be beyond the Alligator in the direction of the trade.
3. As long as my trade is profitable, I take all valid Profitunity trade signals until my lot limit is reached or the trade is closed. Valid Profitunity trade signals include those described in Bill Williams' second book, New Trading Dimensions.

Before adding on to a profitable position, pay strict attention to how the add-on will impact trade risk limits and where breakeven is!

...\larry.bye

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Quoting davidl

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Isto, In regards to your long us chf, post #58, i am curious as to why you didnt set up a stop and reverse with the wise man #1? Maybe you didnt get that signal because of different data or you didnt like the angle? These bw1 signals work real well with elliot waves and harmonic patterns. Great thread, keep it up.

David

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[b]DateSignalPriceSLP/Llots:[/b]
02.5.2007 10:52Z163.33163.470.144
02.5.2007 16:51F163.31163.470.165
02.5.2007 16:51AC163.53163.47-0.065

[b]DateSignalPriceSLP/Llots:[/b]
03.5.2007 08:56DB1.99091.99100.00011
03.5.2007 09:00DB1.99171.9910-0.00071
03.5.2007 11:05DB1.99351.9910-0.00251

[b]DateSignalPrice  SL    P/L lots[/b]
02.05.2007 20:58DB1.10831.1059-0.0024 1
Total: [b][color="Red"]-240[/color][/b]

Quoting anamy

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Isto, you got one weird lookin' avatar!

And thanks for posting the strategy, it looks very interesting.

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