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ATP (Advanced Trading Philosophy) - Positioning For Success

  • #61
  • Mar 6, 2008 9:47pm Mar 6, 2008 9:47pm
I wanted to give you the settings for the Silver Trend that I am using. When I first started I was using the default settings, but upon further review, I have changed the following settings for the following pairs as they made it a bit easier to enter and exit the market.

The setting that I have changed is only one: Otstup. This can be found inthe inputs tab of the Indicator properties.

If you would like to follow along and see what I see, please change this setting to below value for each pair listed.

AU = 15
EU = 15
GU = 20
UCAD = 10
UCHF = 15
UJ = 15
GJ = 15
GCHF = 20
EG = 15
NU = 10
EJ = 15
ECHF = 20
EA = 30
ECAD = 20
"Keep your eyes on the helpers" - Mr. Rogers
  • #62
  • Edited Mar 7, 2008 5:17am Mar 6, 2008 9:58pm | Edited Mar 7, 2008 5:17am
[quote=lacika;1886583]
Quoting damonl
I won't see a long trade until the price closes above the ST dot. [/quot
Hm... You mean the bar's high under the ST dot?

THX, Laszlo
Please see the chart below for a description:

Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 140 KB


As you can see with the placement of the last ST dot, that it matches red with the AO, but we are in a obvious uptrend. As per our exit rules, we would not have placed anymore long orders once these two indictors were aligned, we would leave any pending orders as is and we would place the exit of all open positons 1 pip below the low of the bar.

As you can see the market did not stop out our orders and continued to go up. In practice, we would be in a downtrend selling mode until we got a green ST dot or any candle closes above the previous ST dot.

In this case, because a bar closed above the dot, the market is indicating that we have an uptrend continuation and should be once again looking for long orders only. We would leave all our stop loses here until the indicators give us a signal to move them.

Hope that this has been helpful and thanks for your question.
"Keep your eyes on the helpers" - Mr. Rogers
  • #63
  • Mar 6, 2008 10:11pm Mar 6, 2008 10:11pm
Quoting damonl
I wanted to give you the settings for the Silver Trend that I am using. When I first started I was using the default settings, but upon further review, I have changed the following settings for the following pairs as they made it a bit easier to enter and exit the market.

The setting that I have changed is only one: Otstup. This can be found inthe inputs tab of the Indicator properties.

If you would like to follow along and see what I see, please change this setting to below value for each pair listed.

AU = 15
EU = 15
GU = 20
UCAD = 10
UCHF = 15
UJ = 15
GJ = 15
GCHF = 20
EG = 15
NU = 10
EJ = 15
ECHF = 20
EA = 30
ECAD = 20
Thanks DamonL this will be very useful and as you said it will help folks see what you see...
  • #64
  • Mar 7, 2008 4:18am Mar 7, 2008 4:18am
[quote=damonl;1890110
As you can see the market did not stop out our orders and continued to go up. In practice, [B]we would be in a downtrend buying [/b]mode until we got a green ST dot or any candle closes above the previous ST dot.

Thank You for Your reply. You mean downtrend selling mode?
Laszlo
  • #65
  • Mar 7, 2008 5:18am Mar 7, 2008 5:18am
[quote=lacika;1890613]
Quoting damonl;1890110<br /> As you can see the market did not stop out our orders and continued to go up. In practice, [B
we would be in a downtrend buying [/b]mode until we got a green ST dot or any candle closes above the previous ST dot.

Thank You for Your reply. You mean downtrend selling mode?
Laszlo
Yes.....thanks for catching that
"Keep your eyes on the helpers" - Mr. Rogers
  • #66
  • Mar 7, 2008 5:55am Mar 7, 2008 5:55am
I have been contemplating whether to close out all positions when a certain percentage of Increased Equity has occurred.

For Example, last week into Monday's opener, I had in increase in equity of 21% over the previous week which was also a gain, with an increase of actual account balance of around 5%.

This week saw the market consolidate and change a little and right now my equity is down 3% from last week and my account balance is relatively unchanged from the week before. Actually it is down about .5% do to some wins and losses.

Trading all the pairs that I do I am really finding that when the market is trending, the equity really grows, and when the market is consolidated or ranging, I will lose some and win some keeping my account balance realatively unchaged. It is indeed a good situation.

What concerns me is that I would imagine I would give back about about 5% or maybe a little more of my equity during a trend reversal area, but on the other hand I would also then be opening up trades in the other direction which might offset some of the "give back" amount.

It is just very strange for me to have trades open for so long. My longest trade at the moment is EU from 2/12. That is almost a full month and I have been adding other positions along the way.

Somehow I feel that I should get the money in my account, but yet my rules have not given me exit signals and so I should stay in the market.

I guess I just don't know if cashing in my equity would hurt me in the long run or help me.

Anyway...thanks for letting me go on and on and on

See you soon and have a great weekend.
"Keep your eyes on the helpers" - Mr. Rogers
  • #67
  • Mar 7, 2008 8:16am Mar 7, 2008 8:16am
IMO if you are demo testing then wait for the exit signal to determine the validity of the exit strategy, but if you are live I would take incremental profits and/or keep the your SL close to price. Once you are comfortable/confident with your exit strategy then use your exit signals.

TimeFreedom

Quoting damonl
I have been contemplating whether to close out all positions when a certain percentage of Increased Equity has occurred.

For Example, last week into Monday's opener, I had in increase in equity of 21% over the previous week which was also a gain, with an increase of actual account balance of around 5%.

This week saw the market consolidate and change a little and right now my equity is down 3% from last week and my account balance is relatively unchanged from the week before. Actually it is down about .5% do to some wins and losses.

Trading all the pairs that I do I am really finding that when the market is trending, the equity really grows, and when the market is consolidated or ranging, I will lose some and win some keeping my account balance realatively unchaged. It is indeed a good situation.

What concerns me is that I would imagine I would give back about about 5% or maybe a little more of my equity during a trend reversal area, but on the other hand I would also then be opening up trades in the other direction which might offset some of the "give back" amount.

It is just very strange for me to have trades open for so long. My longest trade at the moment is EU from 2/12. That is almost a full month and I have been adding other positions along the way.

Somehow I feel that I should get the money in my account, but yet my rules have not given me exit signals and so I should stay in the market.

I guess I just don't know if cashing in my equity would hurt me in the long run or help me.

Anyway...thanks for letting me go on and on and on

See you soon and have a great weekend.
  • #68
  • Mar 7, 2008 2:42pm Mar 7, 2008 2:42pm
Quoting TimeFreedom
IMO if you are demo testing then wait for the exit signal to determine the validity of the exit strategy, but if you are live I would take incremental profits and/or keep the your SL close to price. Once you are comfortable/confident with your exit strategy then use your exit signals.

TimeFreedom

WELL SAID
  • #69
  • Mar 7, 2008 3:51pm Mar 7, 2008 3:51pm
Quoting TimeFreedom
IMO if you are demo testing then wait for the exit signal to determine the validity of the exit strategy, but if you are live I would take incremental profits and/or keep the your SL close to price. Once you are comfortable/confident with your exit strategy then use your exit signals.

TimeFreedom
Thanks TF....that is probably sound advice.

I don't believe too much in keeping my S/L too close. The high/low of the set up bar and them move them as in the directions. The problem I was having is because I only trade live, with all the trades I have open, any slight fluctuation raises and lowers my equity quickly. I did not have this problem with only a few trades open, but I have probably 75 open trades at about .27 lots per trade.

I actually am confident with my exit strategy, but I was just wondering if at some point of % in profit I should liquidate and get it too my account balance for the simple fact of not having so many open trades. Because the more postions that you have open the faster your equity comes and goes.

For this reason, I think it is a good thing to liquidate positions at a certain percentage of increase in account size. I think I will put that figure on 15% since it seems relatively achieveable as I have done that 2 weeks in a row.

This way if the market turns away I do not have so many open postions that lower my equity quickly.
"Keep your eyes on the helpers" - Mr. Rogers
  • #70
  • Mar 7, 2008 5:21pm Mar 7, 2008 5:21pm
I have installed everything on my chart, planning to use the weekend for reading and learning how to work you strategy, so at this stage wishing you a relaxed weekend.
  • #71
  • Mar 7, 2008 10:44pm Mar 7, 2008 10:44pm
Quoting Freddyfx
I have installed everything on my chart, planning to use the weekend for reading and learning how to work you strategy, so at this stage wishing you a relaxed weekend.
Thanks freddyfx.....

I think you will be pleased. Please understand that I cannot offer all strategies at one time every night. My plan is to use one pair and just describe that trade for that pair and then it will be up to everyone else to transcribe that to the other pairs.

I believe this to be a life changing strategy. If you are planing on trying one or two trades, then this strategy will only disappoint you. however, if you are looking for thousands of pips for a few hours work each night, then I think we can work together.

Please use .01 lots to start with until you know the system and each strategy. It will be very risky to trade larger lot sizes while only utilizing part or pieces of this strategy.

Bite off more than you can chew, but keep a clear and rational head. Getting out too early could mean that your loses will become greater than your pips gained. Become dedicated to making a successful career from trading.

I also make no promises that past results will equal future results, but I assure that my calculations are within a few % of accuracy, as I am not worried about 1 or 2% here or there.

Though trading the Forex incurrs much risk, I believe that the way I trade eliminates much of risk and puts it in more managable format that allows you to benefit from the trend and keep most of your profit in a ranging market.

Please trade in a way that is comfortable to you and do so at your own risk.

Cheers freddyfx and everyone else following along. i think i will see you Sunday night
"Keep your eyes on the helpers" - Mr. Rogers
  • #72
  • Mar 8, 2008 12:06am Mar 8, 2008 12:06am
Thanks Damonl for taking all the pains to elaborate the System so thoroughly. It really suits me since I am at the West Coast --London opens past mid night and NY opens early in the morning. Both are difficult to monitor due to day job.

Surely you would cover in subsequent posts, the way you monitor trade through Excel Program. I am curious to know how you use the Pivot Point, R1, R2, S1, S2 etc in your entry/exit. Thanks once again.
  • #73
  • Mar 8, 2008 7:40am Mar 8, 2008 7:40am
Quoting damonl
I wanted to give you the settings for the Silver Trend that I am using. When I first started I was using the default settings, but upon further review, I have changed the following settings for the following pairs as they made it a bit easier to enter and exit the market.

The setting that I have changed is only one: Otstup. This can be found inthe inputs tab of the Indicator properties.

If you would like to follow along and see what I see, please change this setting to below value for each pair listed.

AU = 15
EU = 15
GU = 20
UCAD = 10
UCHF = 15
UJ = 15
GJ = 15
GCHF = 20
EG = 15
NU = 10
EJ = 15
ECHF = 20
EA = 30
ECAD = 20
Chihuahua.
I just could not figure out what you meant with this, but then it was already late at night when I read this.

Now after having slept like a rose (dreaming about going to the beach in the morning and work in the early evening) the brain got reconnected, LOL.

Guys, he means go to your indicator SHI_Silver TrendSig and there for each chart/pair you plan to use change that Otstup setiing to the number in above list.
This is getting better all the time.

Now waiting anxiously on instructions how to use the Excel sheet.
  • #74
  • Mar 8, 2008 8:14am Mar 8, 2008 8:14am
Quoting Freddyfx
Chihuahua.
I just could not figure out what you meant with this, but then it was already late at night when I read this.

Now after having slept like a rose (dreaming about going to the beach in the morning and work in the early evening) the brain got reconnected, LOL.

Guys, he means go to your indicator SHI_Silver TrendSig and there for each chart/pair you plan to use change that Otstup setiing to the number in above list.
This is getting better all the time.

Now waiting anxiously on instructions how to use the Excel sheet.
This is 100% correct
"Keep your eyes on the helpers" - Mr. Rogers
  • #75
  • Mar 8, 2008 10:02am Mar 8, 2008 10:02am
Hi, Damonl!
On March 5, the GBPUSD longs, would not have been stoped out, before it made the U turn?
THX, Laszlo
  • #76
  • Mar 8, 2008 10:03am Mar 8, 2008 10:03am
Having checked and corrected all settings mentioned, I think the UCAD would be a bit more accurate if set to 15 instead of 10. Correct me if I am wrong, please.
  • #77
  • Edited 1:01pm Mar 8, 2008 11:55am | Edited 1:01pm
Quoting lacika
Hi, Damonl!
On March 5, the GBPUSD longs, would not have been stoped out, before it made the U turn?
THX, Laszlo
Hey Laszlo....

The longs would have stopped out, but because of other things done earlier, I am already again long with some very nice profits and a couple currently sitting at B/E

And for the record, because of one short trade that would have been placed as well, this would have triggered and then hit the S/L as well as the pair made the u-turn
"Keep your eyes on the helpers" - Mr. Rogers
  • #78
  • Mar 8, 2008 11:59am Mar 8, 2008 11:59am
Quoting Freddyfx
Having checked and corrected all settings mentioned, I think the UCAD would be a bit more accurate if set to 15 instead of 10. Correct me if I am wrong, please.
You may be right about the UCAD. To me it loos like it is close to a toss up. Could go to either one.

One thing to keep in mind is that I set these settings not so much to correlrate with entry postions, but mostly I tried to find settings that would correlate better with exiting the market.

The goal was to try to find as many times a possible where the ST dot and the AC gave signals on the same bar for an earlier exit then using the AO would have given us.

If you are fairly versed on the Exit rules, maybe check the settings agiain and look for numbers over the past few months which would have given us better exit positions and then see if we came to the same conclusions.

"Keep your eyes on the helpers" - Mr. Rogers
  • #79
  • Mar 8, 2008 3:33pm Mar 8, 2008 3:33pm
Hi Damonl, first of all I want to thank you for sharing your strategy with us.

I'm a fun of Bill Williams too and also I'm following the OzFx Daily System. I'll began to test your strategy, I hope that I can contibute in something.

Thank again

PS: I want to apologize for my bad English
  • #80
  • Mar 8, 2008 4:56pm Mar 8, 2008 4:56pm
Quoting Bull
Hi Damonl, first of all I want to thank you for sharing your strategy with us.

I'm a fun of Bill Williams too and also I'm following the OzFx Daily System. I'll began to test your strategy, I hope that I can contibute in something.

Thank again

PS: I want to apologize for my bad English
Sounds good Bull..Please feel free to ask any questions that you may have as I am here to help
"Keep your eyes on the helpers" - Mr. Rogers
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