Had bunch of questions on TAMB - you guys already answered all, the cascade TAMB placement with deleting oldest in favor of newest is OK with me. 10 pend TAMBs however is a killing for me, right now I`m thinking of 5, will see how it goes. Already the management is massive, with (lets see if I remember correctly) TRT, NLRE and AOCT lessons still to learn.
ATP (Advanced Trading Philosophy) - Positioning For Success
Help!! Big problem!
Something terrible happened tonight. I had to close all my trades because my equity was growing too fast! It reached $1740 which was about 11% of my account equity. And as recommended by Damon, we should close out all trades when running profit = 10% of our account equity. So I did just that. (What a painful problem, huh?
But on a more serious note: now after wiping out all open trades, and looking at all the pendig orders that are left, I just have a bunch of TAMB trades that are the opposite direction of the current trends. And there were some pairs that look like they'll continue strongly on the original trend. So my question now is: how do we start over now? Do I wait until I get a new candle to place new trades in the direction of the continuing trend? Do we treat it like we never closed those trades, and just continue placing trend continuation trades (e.g. DPTT, 1UCT, 1DCT)? Or do we start over and place a new EES trade to begin the process over again?
I'm wondering if it would be worth while to scan through the pairs before closing out, and determine the ones that seem to be in a strong trend and have some room to continue. And maybe let those run and close out the rest. My feeling is that, by closing out of a trade that's in a good trend, it's like pulling ourselves out of trades prematurely only to jump back in at the open of new candle, and in the process missing out on some of the run in between. I wish there were some ways we can use indicators to tell us which of the pairs still have some move left and should remain open.
Would be interested to hear your thoughts on this matter.
Hope everyone is experiencing similar success with Damonian ATP.
Cheers,
Tony
I would not establish a percentage of profits vs equity or any other similar ratio, but I would start closing/deleting trades when the handling became uncomfortable.
First to close/delete should be the weakest. Determined by Stochastic, RSI? This is what I would suggest because we already have them in our charts.
One more point I would like to bring into discussion is the possibility of creating a team of participants with programming background that could develop something to perform the more mechanical aspects of ATP.
Miguel
Help!! Big problem!
Something terrible happened tonight. I had to close all my trades because my equity was growing too fast! It reached $1740 which was about 11% of my account equity. And as recommended by Damon, we should close out all trades when running profit = 10% of our account equity. So I did just that. (What a painful problem, huh?
But on a more serious note: now after wiping out all open trades, and looking at all the pendig orders that are left, I just have a bunch of TAMB trades that are the opposite direction of the current trends. And there were some pairs that look like they'll continue strongly on the original trend. So my question now is: how do we start over now? Do I wait until I get a new candle to place new trades in the direction of the continuing trend? Do we treat it like we never closed those trades, and just continue placing trend continuation trades (e.g. DPTT, 1UCT, 1DCT)? Or do we start over and place a new EES trade to begin the process over again?
I'm wondering if it would be worth while to scan through the pairs before closing out, and determine the ones that seem to be in a strong trend and have some room to continue. And maybe let those run and close out the rest. My feeling is that, by closing out of a trade that's in a good trend, it's like pulling ourselves out of trades prematurely only to jump back in at the open of new candle, and in the process missing out on some of the run in between. I wish there were some ways we can use indicators to tell us which of the pairs still have some move left and should remain open.
Would be interested to hear your thoughts on this matter.
Hope everyone is experiencing similar success with Damonian ATP.
Cheers,
Tony
Congratulations!
My two cents about this matter are: control the number of pairs you trade or control the number of trades you place on a pair.
All the entries can be divided into two categories: quick profit taking ones like DPTT, 1UCT, 1DCT; trend riding ones like EES1, TRT, ACT etc. As trend developes, trend riding ones accumulate making open trade number larger and larger.
So if you choose to trade only two pairs or only five open trend riding trades, then the number of open positions can be manageable and you do not need to start from scratch by closing all the open positions.
- #385
- Mar 20, 2008 11:07am Mar 20, 2008 11:07am
- | Joined Dec 2006 | Status: Poocher | 1,018 Posts
Way to go!!!...and thanks for giving more motivation to learn Damon's system.
Help!! Big problem!
Something terrible happened tonight. I had to close all my trades because my equity was growing too fast! It reached $1740 which was about 11% of my account equity. And as recommended by Damon, we should close out all trades when running profit = 10% of our account equity. So I did just that. (What a painful problem, huh?
But on a more serious note: now after wiping out all open trades, and looking at all the pendig orders that are left, I just have a bunch of TAMB trades that are the opposite direction of the current trends. And there were some pairs that look like they'll continue strongly on the original trend. So my question now is: how do we start over now? Do I wait until I get a new candle to place new trades in the direction of the continuing trend? Do we treat it like we never closed those trades, and just continue placing trend continuation trades (e.g. DPTT, 1UCT, 1DCT)? Or do we start over and place a new EES trade to begin the process over again?
I'm wondering if it would be worth while to scan through the pairs before closing out, and determine the ones that seem to be in a strong trend and have some room to continue. And maybe let those run and close out the rest. My feeling is that, by closing out of a trade that's in a good trend, it's like pulling ourselves out of trades prematurely only to jump back in at the open of new candle, and in the process missing out on some of the run in between. I wish there were some ways we can use indicators to tell us which of the pairs still have some move left and should remain open.
Would be interested to hear your thoughts on this matter.
Hope everyone is experiencing similar success with Damonian ATP.
Cheers,
Tony
- #387
- Mar 20, 2008 4:33pm Mar 20, 2008 4:33pm
- Joined Oct 2007 | Status: I'm on a 10 year plan. | 4,309 Posts
Help!! Big problem!
Something terrible happened tonight. I had to close all my trades because my equity was growing too fast! It reached $1740 which was about 11% of my account equity. And as recommended by Damon, we should close out all trades when running profit = 10% of our account equity. So I did just that. (What a painful problem, huh?
But on a more serious note: now after wiping out all open trades, and looking at all the pendig orders that are left, I just have a bunch of TAMB trades that are the opposite direction of the current trends. And there were some pairs that look like they'll continue strongly on the original trend. So my question now is: how do we start over now? Do I wait until I get a new candle to place new trades in the direction of the continuing trend? Do we treat it like we never closed those trades, and just continue placing trend continuation trades (e.g. DPTT, 1UCT, 1DCT)? Or do we start over and place a new EES trade to begin the process over again?
I'm wondering if it would be worth while to scan through the pairs before closing out, and determine the ones that seem to be in a strong trend and have some room to continue. And maybe let those run and close out the rest. My feeling is that, by closing out of a trade that's in a good trend, it's like pulling ourselves out of trades prematurely only to jump back in at the open of new candle, and in the process missing out on some of the run in between. I wish there were some ways we can use indicators to tell us which of the pairs still have some move left and should remain open.
Would be interested to hear your thoughts on this matter.
Hope everyone is experiencing similar success with Damonian ATP.
Cheers,
Tony
.What I do is start over, but depending on the situation I may decide to keep my next DPTT open for the diration so that I have a solid base that is growing. But by all means continue as if you never closed out your trades.
I still recommend closing out your account at least til you get a feel for what is going on. What happens is let' say you are up 15%, but the market swings against you. Now you have up to 10 trades losing value which can add up really fast, and in one day you can lose 5 of your original 15%.
I think as you get used to the system each person will find there own tolerance.
Cheers and great job
"Keep your eyes on the helpers" - Mr. Rogers
- #389
- Mar 20, 2008 4:35pm Mar 20, 2008 4:35pm
- Joined Oct 2007 | Status: I'm on a 10 year plan. | 4,309 Posts
@ Damon;
Can you please post your 3-20-08 spreadsheet?
Thanks in advance,
TimeFreedom
"Keep your eyes on the helpers" - Mr. Rogers
- #390
- Mar 20, 2008 4:37pm Mar 20, 2008 4:37pm
- Joined Oct 2007 | Status: I'm on a 10 year plan. | 4,309 Posts
"Keep your eyes on the helpers" - Mr. Rogers
- #391
- Mar 20, 2008 4:40pm Mar 20, 2008 4:40pm
- Joined Oct 2007 | Status: I'm on a 10 year plan. | 4,309 Posts
Hey TM....
Instead of giving me a file with your trades explained, can you put each trade on the thread here.
I ask for a couple of reasons.
1. I want to help you, but I am very busy and it will be easier if I can jsut do a quick reply to a thread rather than read through the file.
2. It will make it easier for others to follow.
If you want to upload charts please do so, but don't feel obligated and don't feel like you are hoggin the thread either, as many people will learn quicker from what you do.
I wish I had more time to do it myself.
Instead of giving me a file with your trades explained, can you put each trade on the thread here.
I ask for a couple of reasons.
1. I want to help you, but I am very busy and it will be easier if I can jsut do a quick reply to a thread rather than read through the file.
2. It will make it easier for others to follow.
If you want to upload charts please do so, but don't feel obligated and don't feel like you are hoggin the thread either, as many people will learn quicker from what you do.
I wish I had more time to do it myself.
"Keep your eyes on the helpers" - Mr. Rogers
- #392
- Mar 20, 2008 5:15pm Mar 20, 2008 5:15pm
- Joined Oct 2007 | Status: I'm on a 10 year plan. | 4,309 Posts
Had bunch of questions on TAMB - you guys already answered all, the cascade TAMB placement with deleting oldest in favor of newest is OK with me. 10 pend TAMBs however is a killing for me, right now I`m thinking of 5, will see how it goes. Already the management is massive, with (lets see if I remember correctly) TRT, NLRE and AOCT lessons still to learn.
. Not holding out on you, just a lot to do.If 5 TAMB trades works for you then I think that you should go for it
"Keep your eyes on the helpers" - Mr. Rogers
TM...This is terrible....are you all right? Do you need me to send an ambulance?
What I do is start over, but depending on the situation I may decide to keep my next DPTT open for the diration so that I have a solid base that is growing. But by all means continue as if you never closed out your trades.
I still recommend closing out your account at least til you get a feel for what is going on. What happens is let' say you are up 15%, but the market swings against you. Now you have up to 10 trades losing value which can add up really fast, and in one day you can lose 5 of your original 15%.
I think as you get used to the system each person will find there own tolerance.
Cheers and great job
I appreciate your concern for my health and well-being
But I think I'll survive; no need for emergency care. Thank you for clarification about closing out all trades. What I did was I used an EA that closes out ALL your trades at a pre-set % of your equity. And what it did last night was it closed out all my open trades AND pending trades! So I was left feeling like a man without his pants on. I felt like there were some trades that should have been allowed to continue. I went ahead and redid all my pending trades. But my concern now is with the EES, TRT, and ACCT trades that have been triggered. Had I not killed them, at least some of them would still be running in profit. So now the question is, do I reestablish a new trade (EES) to start the process over again? Or do I just place DPTT trades until the next reversal signal?
I agree with your comment that everybody will come up with their own way of managing trades that they feel comfortable with. I'd like to throw out my idea that I just came up with for everyone's consideration. Next time I get a profit run-up to 10-15% again, I plan to quickly scan through all the pairs, and close out the ones that have given an early exit signal, or any signal at all that a reversal maybe occurring. This method will do one of two things, or both: 1) it will close out trades that were negative and exibiting a turn around, so if close them out early we stand to save from a bigger loss. 2) It will close out winning trades that indicate they are close to the end of a trend and are about to reverse. These trades have already accumulated some good pippage and should be closed out to put the money in the bank anyways.
As Malarraz pointed out earlier, the use of Stochastic and/or RSI could help in doing this. More generally, even the original exit rules could be used in the early close-out decision IMO. The difference here is just that we wont wait until the end of the candle to confirm the signals. We close out NOW if we see exit signals. And I think once we close out some of the trades this way, we'll have decreased the number trades down to a more manageable level; maybe 30 instead of 75
Because I think the main reason to close out early is not because the profit/equity ratio is too high (I do not mind the high profit, honestly. Earlier comments were just for humor.), but because the sheer NUMBER of open trades present some risks as Damon pointed out. So if we can have 20-25 trades that are producing net profit, we should be ok regardless of what percentage of equity the running profit is at that moment IMHO. I would be interested in hearing everyone's opinions about this very important matter.
Cheers,
Tony
- #395
- Mar 20, 2008 5:24pm Mar 20, 2008 5:24pm
- Joined Oct 2007 | Status: I'm on a 10 year plan. | 4,309 Posts
is there any strategy for outsidebar ??
I haven't seen this in a few weeks I actually missed it on this chart. Thanks for pointing it out to me. This is another trade I still have to go over with you.
I will try to get you another strategy to look at for over the holiday weekend.
"Keep your eyes on the helpers" - Mr. Rogers
Hey TM....
Instead of giving me a file with your trades explained, can you put each trade on the thread here.
I ask for a couple of reasons.
1. I want to help you, but I am very busy and it will be easier if I can jsut do a quick reply to a thread rather than read through the file.
2. It will make it easier for others to follow.
If you want to upload charts please do so, but don't feel obligated and don't feel like you are hoggin the thread either, as many people will learn quicker from what you do.
I wish I had more time to do it myself.
Thank you Damon, for all your generous help so far.
Cheers,
Tony
- #399
- Mar 20, 2008 5:40pm Mar 20, 2008 5:40pm
- Joined Oct 2007 | Status: I'm on a 10 year plan. | 4,309 Posts
"Keep your eyes on the helpers" - Mr. Rogers