ATP (Advanced Trading Philosophy) - Positioning For Success

Quoting 555ngone

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Damon dont let the negative posters get you down
we all appreciate what your doing.
i think for the most part you will keep out most of the negativity because this is not a system you can learn in 5 minutes, so the people willing to go through your lessons, are wanting to learn and not bash.
I guarantee this dr who didnt go through this whole thread, and is just talking out of his a@#.
If he truly believes that this is rubbish than he should state the facts, and prove why.
If youd like to delete this post and his, to not start a debate that would be fine with me, most of us are here to learn what you teach.
Thanks for being so generous.

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Quoting TimeFreedom

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@ Damon;

Your new AC Continuation Trade Strategy (ACCT) is very much appreciated. Looking forward to next week.

Let's not get derailed from our goals by giving attention to negativity. We will keep to the path less traveled and at the end enjoy the fruits of our labor.

TimeFreedom

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Quoting elocdes

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Hi Damon,

What stoploss do you use on the ACCT entry?

Kind regards,

Chris

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Quoting keramikus

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Jumping in with opinion if I may - go back in time 9 bars back on bar with your yellow arrow. So if there were no last nine bars, on which bar was green dot then? Probably one or two bars before yellow arrow and as days went by it also went forward to another of successive bars. So you would have a short confirmed longtrend.

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Quoting tman378

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Hi Damon,

I want to be another one to say a sincere thank you for all that you're doing. I regret that words will never be enough to make you realize how much this all means to us. Selfless individuals like you are one of the reasons many people, including myself, have not given up our hope to become a good and successful trader. Thank you, thank you, thank you.

After reading through your entire thread, setting up the charts, and looking at the Trade Management spreadsheet, I started to scan through the current charts to see if I can detect some signals. I came across one case that looked unique and a bit out of normal convention, and I would like your advise as to what it is I'm looking at.

Please see the attached GBP/JPY chart below. The green ST dot occured on 9 March after a mini uptrend that started back on 5 March (when NL turned yellow after an extended downtrend). If NL did not turn yellow again on the same bar as the green ST dot, we would have had a valid reversal signal (down to uptrend) on that bar with the green arrow, correct? But since NL happened to turn yellow again, what does this mean? Should any trades (either directions) have been opened any where between the yellow and green arrows at all? Or anywhere after that until now?

My best guess is that, since all the elements of a trend reversal signal (yellow NL + green ST dot) did not occur before the NL turned back in the original trend's direction (down), the uptrend reversal was never really established. Therefore, this would qualify as some sort of a trend continuation scenario. The difficulty for me here is I don't know exactly which entry rule this qualifies as.

Any guidance would be much appreciated!

Thank you, Damon.

Tony

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Quoting malarraz

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H Damon,
I want to join the group of those that expressed to you their gratefulness for your dedicaton to this thread that I am following since the beginning.
I have two questions: when one should update S/L?, when and how to use T/S?. And, if possible, the request that you to continue attaching the spreadsheet with your orders so that we can compare and try to understand any differences.
Thanks again
Miguel

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Quoting TimeFreedom

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I just closed all my open trades for +15% profit on 10K demo acct. Starting from scratch now.

I have one buy GBPUSD trade still open in negative territory. Waiting for it to hit SL.

TimeFreedom

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Quoting tman378

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Hi Damon, and fellow Damonians

Been waiting to start the new week, with ATP as my new approach to trading. I wish you all good success!

I'm scanning through all the pairs, waiting for current candles to close to place my pending orders. I'm going to submit a chart for each pair along with my analysis. I hope Damon and everybody interested will kindly give me your opinions about them.

I'm loving the cozy atmosphere in this thread. I think I'll make this my hang-out place each evening from now on. I hope you don't mind.

Cheers,

Tony

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Quoting TimeFreedom

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I am somewhat perplexed about the current situation since we have a gap due to weekend bars. Based on my understanding from reading the rules we wait for price to head down below Friday's close and then place a buy stop for a DPTT or EES setups. IMO maybe we should just place a buy limit at Friday's high?

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Quoting adrix

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Hi all.

I would like to thanks this amasing view of the market that Damon is giving us.
Thanks man.

One question : In your system you use a global profit of all orders to close the positions, why don´t do the same when you are loosing? Instead of close near the set up bar? Once you proof to your self ,( and i belive in you) ,that the sytem can increase the account to very significants profits a global estrategy of close when loosing ( let´s say 5%) probably would hapen very very few times.
by the way, I am a very new on this, and my english is not the best, so i apologize.

And once more thank you

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Quoting tman378

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I had a second thought, and I feel that submitting charts for all the pairs would take up too much space in the thread. I don't want to be a hog so I'll just post my thoughts on each pair instead. And if I have any pairs that require closer chart inspection I'll post the charts.

So here goes:

1. A/U: In a current uptrend. Red ST dot two bars back. If today's candle closes in yellow, we'd have a NL Reveral Trade for short. If it doesn't close in yellow, we can place a Daily Pip Trend Trade for long. You actually have a DDPT and a 1UCT to palce with AU today.

2. E/A: An NL Reversal Trade for short signaled 3 bars back. If an EES trade order was placed for short, it has not been triggered until now. Current candle came close to piercing above the red ST dot. But with an hour left in the current candle, it looks like it will not close above the dot. Therefore, the signaled trend reversal (from up to down) stays valid. Now we have to wait for the EES placed on 3/12 to trigger before we place any more trades in the short direction. Please see a chart for this pair below. Because of the movement of Sunday's bar, I just placed a DPTT here.

3. E/CAD: A red ST dot popped up two bars back. But a short reversal hasn't confirmed (NL still blue and AO remains green). We should be placing DPTT long trade today. Correct, bu I used Sunday's bar because of the movement. You also could have placed a ACCT, but Sunday's and Monday's can be strange so I left it with just the one trade.

4. E/CHF: A red ST dot occurred 4 bars back and NL turned from blue to yellow on previous bar (Friday's bar), therefore a valid NL Reversal Trade was signaled. Now the Sunday bar has opened outside the range of Friday's bar, so we'll wait for it to close back inside and place an EES short trade below the low of the Friday's bar. (My question is, do we have to wait for a bar to CLOSE back inside Friday's range before placing a sell order? Or can we just place a sell LIMIT order now (at the low of Friday's bar), so if price moves back up beyond that level during the session, the sell limit order will be triggered? Please see chart for this pair below. I placed 2 orders here using Sunday's bar. A DPTT and an AO continuation trade (AOCT) which I haven't officially put out any rules for but it is the same concept as the ACCT.

5. E/G: Continued uptrend. No Short reveral has been signaled. If NL closes blue, we can place a DPTT long trade today. I left this one alone today.

6. E/J: An uptrend NL reversal was signaled on 3/11. A long trade would have been opened and stopped out on the next bar. Now we're in an extended down move, but no short reversal signal has occurred. Also, price has not closed below the green ST dot, so we should still be looking for long trades. Please see chart below (I'm especially unclear about what to do after an EES has been triggered and stopped out. Do we continue placing trade orders in the same direction? Yes Another EES only if you get another triggger followed by daily DPTT's?) yes. I used Sunday's bar to place a DPTT becasue of the amount of movement. Just in time I see

7. E/U: Long extended uptrend. Short reversal has not occurred. If NL or AO does not change color, we can place long DPTT trade today. Yes, becasue of the movement for Sunday I contemplated using this bar to make the DPTT, but I made it back to it too late. Y had to be quick today.

8. G/CHF: Continued downtrend, therefore we can place short DPTT trade today. Yes, but because of Sunday I didn't make it back to make the trade on Sunday's large movement.

9. G/J: Continued downtrend, therefore we can place short DPTT trade today. (Thank you for the explanations earlier, Damon & Keramikus Ditto G/CHF above

10. G/U: Red ST dot two bars back and NL looks like it could close in yellow in about half an hour. AO also turned red, so in fact this is would be a Trend Reversal Confirmation or EES II. We can place a short pending order today. yes...if you want to use Sunday's bar. Enough movement says Yes to me.

11. N/U: A continued uptrend, therefore we can place long DPTT trade today. Or actually, since today's bar high is below the previous bar high, this could qualify as a 1 Up Continuation Trade, so we would place long pending order above the high of the bar PREVIOUS to the most recent closed bar. My question here is would we also place a DPTT trade in conjunction with the 1UCT? yes

12 U/CAD: A short NL Reversal trade was triggered 3 bars back and would have been stopped out on the previous bar. My question here is, would we then look to open another EES trade? Or at this point do we just place DPTT trades until we get another reversal signal to go the other way? Please see chart for this pair below. Becasue the trade triggered we are free to trade at will. Being stopped out makes not difference. Only that it was triggered.

13. U/CHF: A long NL Reversal Trend signaled 3 bars back, but price closed below the green dot on the previous bar, so the long signal has been negated. Therefore a continued downtrend. We can place short DPTT trade today. yes

14. U/J: Same scenario as U/CHF. Continued downtrend after long NL Reversal Trend signal cancelled = continue placing short DPTT trades. yes

I apologize for my long post. I'll only need to do this a couple of times and I think I'll be able to quickly grasp the concept. Thank you for any advise from you all.

Cheers,

Tony

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