Hi isto,
I fully agree with your comment :
As I had mentioned earlier also , That my main focus is on learning the finer points of the system. ( Hopefully my queries will benefit other members also. )
I am fully aware that I am a newbie.... thats the reason I am trading only in demo account. So that I don't lose Real Money and still get the real life experience. I feel Trading in the live market gives better experience than looking at the charts after the pattern has completed. After Market has completed its move, It is easy to say what should have been the Correct startegy. Thats the reason I thought I will take your guidance to find out, if I am correct or wrong. { Your comments have always been precise & have helped me to clear my doubts }.
Since I found a valid DB in the maket, I thought I will try to trade this move completely (in my Demo Account ). So that I can Learn under your guidance as the market progresses.
Given below are the steps I took in response to the information provided by the market :
a) Go Long above the High of DB2 ( 1st Wise man)
b) Add position as per the 3AO signal (2nd Wise man)
c) Closed all the open Long positions & Went Short as per the Balance Line Signal
d) Closed Short Position & Went Long above the Fractal
e) Add one more contract on open of the last bar, as per Zone Signal
f) Add one more contract above the high of the previous bar as per AC Signal
g) Next Zone Signal contract to be added on open of Next bar
If you don't mind , pls evaluate all the steps taken and guide me where ever I was Wrong !
regards
tej
Profitunity (Chaos) Trading System by Bill Williams
Hi isto,
Today the market opened with a huge down gap !
My , Long entry proved to be really dangerous.
Is there any Rule as per the system which could have prevented me from taking Long position ?
Such huge gap down openings, when you are long multiple contracts , can really crash the account.
regards
tej
Today the market opened with a huge down gap !
My , Long entry proved to be really dangerous.
Is there any Rule as per the system which could have prevented me from taking Long position ?
Such huge gap down openings, when you are long multiple contracts , can really crash the account.
regards
tej
Hi isto,
I normally have a problem while drawing angle for DB.
Most of the time I am able to draw acute angle as well as parallel lines on the same figure.
I feel I am doing something wrong.... I need your help in finding the correct starting point to draw angle.
I have attached a chart with multiple DB's
I have labelled two DB's Where I am able to draw acute as well as parallel lines
Pls draw angle for these dbars.
My main confusion is where should be the starting point,
a) Should we start from the place where the bars cut the Red Line ?
or
b) Should we start from the nearest pivot ?
Pls guide me....
regards
tej
I normally have a problem while drawing angle for DB.
Most of the time I am able to draw acute angle as well as parallel lines on the same figure.
I feel I am doing something wrong.... I need your help in finding the correct starting point to draw angle.
I have attached a chart with multiple DB's
I have labelled two DB's Where I am able to draw acute as well as parallel lines
Pls draw angle for these dbars.
My main confusion is where should be the starting point,
a) Should we start from the place where the bars cut the Red Line ?
or
b) Should we start from the nearest pivot ?
Pls guide me....
regards
tej
Hi Protei,
I hope you have seen my earlier posts #515 , #520 and #524
If you are entering on 3AO & stop loss at low of DB, I believe your stop loss would be huge...
regards
tej
I hope you have seen my earlier posts #515 , #520 and #524
If you are entering on 3AO & stop loss at low of DB, I believe your stop loss would be huge...
regards
tej
My 5 cents... all this time i was trying to find new tactics using Williams signal... and here what i have found.
Well first of all we see Dbar.... If this bar is triggered we might close our current possition.... then we are waiting for 3AO signal... It will be 3 bars and one of them will be the highest... so if Price triggers maximum of this bars, we will go in long position with all money we have (if previous move was down).... and stop we will put lower than Dbar... this entry will allow us maximize our profit... becos after triggering 3AO signal the chance that trend changes is 80-90%.... this is a good perecent...
So your ideas... i tested this tactic and it gaved me profit...
Hi dinka,
Mostly I trade on Hourly time frame...
But as far as I know..... Alligator helps me to filter out the trade against the trend. Thus by using this system one will automatically trade only in the direction of main trend.
Isto would be the right person to tell you if i am right or wrong.
regards
tej
Mostly I trade on Hourly time frame...
But as far as I know..... Alligator helps me to filter out the trade against the trend. Thus by using this system one will automatically trade only in the direction of main trend.
Isto would be the right person to tell you if i am right or wrong.
regards
tej
Tej, What time frame are you trading? check the higher TF and see where market is going, b4 you jump into trades
Hi isto,
I was just re-reading the book New Trading Dimensions.
In the book, under the topic Alligator behaviour it is mentioned :
But whenever we take DB or 3AO signals they are generally against the trend. In short we are trying to predict the end of the trend. Could this be the reason for many DB/3AO failures ?
If you will relook at my earlier post #520 & #524 , you will notice that my long position based on 3AO/Fractal/zone etc gave me a big loss. And now I am thinking, it was because I broke the above rule, I went Long when the trend was down.
This line also tell us that we should not take signals , when the price is going towards the jaw. Thus by going long in downtrend or going short in Uptrend we are breaking these main rules & taking a bigger risk....
What is your opinion ?
regards
tej
I was just re-reading the book New Trading Dimensions.
In the book, under the topic Alligator behaviour it is mentioned :
if the price is above the Alligator's mouth, we would only take buy signals and would not go short.We would have profit-protecting stops trailing the up move.
On the down side, we would only take sell signals below the Alligator's mouth and would only buy to exit a position, not to go long
But whenever we take DB or 3AO signals they are generally against the trend. In short we are trying to predict the end of the trend. Could this be the reason for many DB/3AO failures ?
If you will relook at my earlier post #520 & #524 , you will notice that my long position based on 3AO/Fractal/zone etc gave me a big loss. And now I am thinking, it was because I broke the above rule, I went Long when the trend was down.
we wait until there is a fractal outside the jaw.
This line also tell us that we should not take signals , when the price is going towards the jaw. Thus by going long in downtrend or going short in Uptrend we are breaking these main rules & taking a bigger risk....
What is your opinion ?
regards
tej
- #539
- Aug 3, 2007 12:37am Aug 3, 2007 12:37am
Well tej i agree that stop loss might be big... but anyway.... as i allready said the chance that trend will change is about 80%.... yes of course there will be 2 chances to lose money... but also we will have 8 chances to earn... so i think this is a good chance.... And btw... no matter what kind of system is and where the stop loss is placed... The main point is that system must have chances to win more than chances to lose
Okey anyway yesterday i lost about 0.5%... lets see what will be today
Okey anyway yesterday i lost about 0.5%... lets see what will be today
Hi Protei,
You are trying this strategy on which time frame....
5 min or 60 min or ...... ?
regarding
tej
You are trying this strategy on which time frame....
5 min or 60 min or ...... ?
regarding
tej
My 5 cents... all this time i was trying to find new tactics using Williams signal... and here what i have found.
Well first of all we see Dbar.... If this bar is triggered we might close our current possition.... then we are waiting for 3AO signal... It will be 3 bars and one of them will be the highest... so if Price triggers maximum of this bars, we will go in long position with all money we have (if previous move was down).... and stop we will put lower than Dbar... this entry will allow us maximize our profit... becos after triggering 3AO signal the chance that trend changes is 80-90%.... this is a good perecent...
So your ideas... i tested this tactic and it gaved me profit...