Team Aphid, is there a reason why you don't use the 50% fib retrace as well?
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DislikedTeam Aphid, is there a reason why you don't use the 50% fib retrace as well?Ignored
DislikedTA asked for feedback. Here are my initial thoughts. These are very general in their nature; I haven't done any testing.
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DavidIgnored
DislikedThom,
Thanks for the great wav. Alert. Is it possible to add an email option?...Ignored
http://www.accrete.com/fx-bat/
!!! Danger Will Robinson !!!
The last time i used the email alert and went to the market for spices for the evening meal i came back to find about 200+ emails..
_____________End Note_____________
And for the record : I grabbed more pips during last nite's London session incorporating the BAT-ATR indicator along side my typical L.O. TA setup on the GbpUsd pair than any other L.O. i have on record!I was utilizing the Linear Regression Channel drawn (a bullish channel today) from the day's open at GMT 00 and filtering out entries that did not line up with traditional LRC entry rules; I.E. a bullish bounce off the lower LRC support line placed on a 15m chart. Then i added my favorite trend-finder-MA for a 15m intraday chart... a 96ema acting as an additional entry (headfake) filter... I had three good entries using these filters last nite. My intention was to have additional reasons For Not Trading...so these to me are just safety filters, not get-in-quicker-filters.
NOTE: this may clasify as a "Hybrid"... Pips Ahoy!
DislikedHi all!!!
It's very, very interesting to find correct point for "Swing" dot. It's very, very interesting to make hand backtesting. But, IMHO, we have a smaaaal problem.
TA asks that we try to make this system better with our ideas. I think we must to start not from looking for Swing dots or trying to find "best month of 2006"
We must to make correct MM system for the Bat!
It must be first.
Look at this.
Trade 1 entry 9337 exit 9373 SL=88
Trade 2 entry 9307 exit 9337 SL=58
Trade 3 entry 9289 exit 9337 SL=40
Trade 4 entry 9289 exit 9337 SL=40
Stop loss 9249
If we open or trade on Trade#1 dot with our full lots with 2or3% Risk by Deposit we can't to trade Trade2,3,4 - we HAVE FULL RISK from the beginning.
Example for understanding
Our depo = $10 000
Risk 3% (I’m sorry Fiji J)
1. Take all lots. With mini lots
Our lots for Trade1 = $300/88=3
Our lots for Trade2 = $300/58=5
Our lots for Trade3 = $300/40=7
Our lots for Trade4 = $300/40=7
AND!!! If we will take all this lots we will have 12% Risk!!!
2. Lots distribution. With micro lots
Our lots for all Trades = $300/88=30
We can distribute it pro rata
2.1. For Trade#1=coef 1
30/4=7
Our lots for Trade1 = 7
Our lots for Trade2 = 7
Our lots for Trade3 = 7
Our lots for Trade4 = 7
But we have problem again. We close it on Trade#1 price and loss our money that we can get from trend.
Yes, we don’t know about future prices. But we don’t know about future when we trade Trade2,3,4. We can book profit from 4 lots or we can get loss from 4 lots.
I think we must to look the other way
2.2.For Trade#1=coef 2 (TA told that we trade Trade1 with 2 lots)
30/5=6
Our lots for Trade1 = 12
Our lots for Trade2 = 6
Our lots for Trade3 = 6
Our lots for Trade4 = 6
In this we can’t book our profit!!!
3. Look again (I know, I’ve bothered you J)
Trade 2 entry 9307 exit 9337 SL=58pips TP=30pips P/L=0.51
Trade 3 entry 9289 exit 9337 SL=40 TP=48 P/L=1.13
Trade 4 entry 9289 exit 9337 SL=40 TP=48 P/L=1.13
Total p/l=0.9
It’s not very well. We must take trades with p/l>1 (>2better)
Thanks!
It’s only my IMHO and not criticism – I want to make this better!
MaxIgnored
DislikedMichael
This is correct for the first part of his comments which is MM, what about the 2nd part which is the issue of risk reward ratio and in the case of trades 2,3 and 4 it is less than 1?Ignored
DislikedHoward,
Good point my mistake. But what about this one from the 9th of Jan.Ignored
DislikedHi Lyn
That is what we are seeing on the chart historically after the event, we have not seen it in real time, the Team who have watched it live at the time would be in a better position to explain what decision should be taken if we come across a case where fibs are located outside the red or blue lines.Ignored
OK, i'm treading lightly and humbly here.
Disliked
For my IMHO system must have:
3.1Entry rules – the BAT has it – very simple and based on real market volatility (it means that it will be work not only on Forex)
3.2.Exit rules - the BAT has it – very simple and based on real market volatility
3.3.Stop loss rules - the BAT has it – very simple and based on real market volatility
3.4.MM system – This MM system must make big profits and small loses – RR must be>1. The BAT MM rules has correct enter but not correct exit (again – it’s MY IMHO)
3.5 Rules of management of open trade – system must tell you what you should do when your trade is in development – the BAT don’t tells it.
I want to build all this “breaks” and get System
I believe that TA want too ;-)Ignored
DislikedMarkj, here is my understanding, referring to my annotations on your chart below.
Enter 1 lot (“trade #1”) short at point #1. Protective stop is at magenta line (added by me, and supposed to be 10 pips above swing point, but not necessarily drawn to scale).
When red line forms on bar after open, it is nearer to price action than the magenta line, hence the red line now takes over as the definitive stop (shown by my drawing magenta line to meet red line).
At point #2, price has retraced to the 61.8 line, hence enter 1 lot (“trade #2”).
Price obviously doesn’t quite reach red line at point #3. If it had done, then both positions would have been stopped out, and we would enter 1 lot long on the phase change. Because the red line formed below the 38.2 line, trades #3 and #4 can never be taken.
At point #4, price reaches 100.0, hence trade #2 is closed out at a profit.
Once price reaches the 161.8 line (point #5), no more trades may be added, even if price subsequently retraces back to 61.8 again (the “BAT range trade” scenario in the PDF).
When price hits the red line at point #6, trade #1 is closed out (at a profit – nice!), and the change of phase means that we now enter 1 lot long, with new protective stop at swing low, and the process repeats itself.
My understanding is that the initial stop (represented by the magenta line), and then the trailing red/blue line act as a full and final stop for all trades entered thus far during the current phase. Once the red/blue line moves "inside" the 38.2 and 61.8 fibo lines, additional trades can not be taken, because when price hits this line, all trades are closed, a new phase is begun and we start entering trades in the opposite direction.
That is my understanding; I leave it to TA to confirm. Many thanks TA for sharing this novel method. A very interesting approach: an easy-to-follow, tightly-defined system that can potentially profit in both trending and ranging markets has definitely caught my attention!
DavidIgnored