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ATP (Advanced Trading Philosophy) - Positioning For Success

  • #421
  • Edited 9:55pm Mar 20, 2008 9:43pm | Edited 9:55pm
Sorry it took me longer today. Starting over after a 10% close out is a bit more work. I've got to be more organized in an event like this in the future. I'm thinking of keeping track of order ID# too. This way it's easier to match the orders that have been closed against those documented in the spreadsheet.

Damon, please don't feel obligated to give a full reply to all my observations. Just a heads-up when you see a mistake would be greatly appreciated already. Today there were two in particular that I was unclear about: EUR/JPY and USD/CAD.

My charts analysis for today:

AUD/USD
.25

Add: 8
Observations

  1. Downtrend confirmed and continues

Actions

  1. Place DPTT short trade
  2. Place a long TAMB trade on 3/19 bar

EUR/AUD
.25

Add:11

Observations

  1. No change in signal
  2. ACCT trade not triggered
  3. 1UCT trade triggered
  4. DPTT long triggered & negative

Actions

  1. Place DPTT long trade on previous bar
  2. Keep ACCT trade
  3. Let 1UCT trade continue
  4. Place a short TAMB trade on 3/19 bar

EUR/CAD
.25

Add: 11
Observations

  1. EES triggered
  2. AC Continuation Trade

Actions

  1. Place ACCT long trade
  2. Place TAMB short trade on 3/19 bar
  3. DPTT long

EUR/CHF
.25

Add: 7
Observations

  1. EES long trade triggered


Actions

  1. DPTT long
  2. TAMB short on 3/19 bar (not possible because current price lower than that bar’s low)

EUR/GBP
.15

Add: 6
Observations

  1. Red ST 2 bars back may confirm with yellow lag today

Actions

  1. Cancel all open long trades
  2. Place EES I short trade
  3. Place TAMB long trade on 3/19 bar

EUR/JPY
.15

Add: 7
Observations

  1. EES long trade not triggered
  2. Lag turned red = Non-lag Continuation trade? But price has not closed under green ST dot, so may consider this still an up-trend. (Please see chart below)

Actions

  1. Keep EES I long trade
  2. Place TAMB short trade on 3/19 bar (not possible)

EUR/USD
.25

Add: 5
Observations

  1. EES short trade triggered
  2. EES II triggered

Actions

  1. Place DPTT short trade
  2. Place TAMB long trade on 3/19 bar

GBP/CHF
.10

Add: 12
Observations

  1. Green ST 4 bars back looks to confirmed today with yellow lag

Actions

  1. Cancel all pending short orders
  2. Place EES I long trade
  3. Place TAMB short trade on 3/19 bar

GBP/JPY
.10

Add: 12
Observations

  1. NL turning back up to confirm up-trend
  2. EES I long not triggered

Actions

  1. Keep EES I long trade
  2. Place TAMB short trade on 3/19 bar

GBP/USD
.25

Add: 7
Observations

  1. Both DPTT and 1DCT short trades triggered
  2. Downtrend continues

Actions

  1. Let 1DCT trade continue
  2. Place new DPTT short order
  3. Place daily TAMB long trade on 3/19 bar

NZD/USD
.25

Add: 8
Observations

  1. EES short trade triggered

Actions

  1. DPTT short trade
  2. Place daily TAMB long trade on 3/19 bar

USD/CAD
.25

8
Observations

  1. Conclusion from yesterday was that this is a true Trend Continuation Trade that signaled when AO changed back from red to green about 4-5 bars back and price closed above ST dot on 3/19 bar. (Please see chart below)
  2. EES I long trade placed yesterday was triggered
  3. EES II trade should have been placed on 3/19 bar also

Actions

  1. Place DPTT long trade
  2. Place TAMB short trade on 3/19 bar

USD/CHF
.25

7
Observations

  1. EES I trade triggered
  2. AO is green which signals EES2 (Trend Reversal Trade)

Actions

  1. Place EES2 long trade
  2. DPTT long trade
  3. Place daily TAMB short trade on 3/19 bar

USD/JPY
.25

Observations

  1. EES long trade not triggered
  2. EES II signaled by green AO but EES I not triggered

Actions

  1. Keep EES 1 Long trade
  2. Place daily TAMB short trade on 3/19 bar

Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpy_032108.gif Size: 12 KB
Click to Enlarge Name: usdcad_032108.gif Size: 14 KB
  • #422
  • Mar 20, 2008 9:47pm Mar 20, 2008 9:47pm
Based on my understanding we should have an EES2 - TRT setup today since EES1 - NLRT was triggered today? And we also have a DPTT today?

TimeFreedom
Attached Image (click to enlarge)
Click to Enlarge Name: atp_usdchf-03-21-08_jing_01.png Size: 38 KB
  • #423
  • Mar 20, 2008 9:51pm Mar 20, 2008 9:51pm
Quoting TimeFreedom
Based on my understanding we should have an EES2 - TRT setup today since EES1 - NLRT was triggered today? And we also have a DPTT today?

TimeFreedom
I believe you're right, TF. Good eye. I missed the fact that the EES1 was not triggered until this last bar that just closed. Therefore, yes, we should have EE2 and DPTT trades today, IMO. Damon, would you please confirm this.

I should edit my above post so others won't be confused by my oversight.

T.
  • #424
  • Edited 10:05pm Mar 20, 2008 9:55pm | Edited 10:05pm
Quoting tman378
Sorry it took me longer today. Starting over after a 10% close out is a bit more work. I've got to be more organized in an event like this in the future. I'm thinking of keeping track of order ID# too. This way it's easier to match the orders that have been closed against those documented in the spreadsheet.

Damon, please don't feel obligated to give a full reply to all my observations. Just a heads-up when you see a mistake would be greatly appreciated already. Today there were two in particular that I was unclear about: EUR/JPY and USD/CAD.

My charts analysis for today:

AUD/USD
.25

Add: 8
Observations

  1. Downtrend confirmed and continues

Actions

  1. Place DPTT short trade
  2. Place a long TAMB trade on 3/19 bar

EUR/AUD
.25

Add:11

Observations

  1. No change in signal
  2. ACCT trade not triggered
  3. 1UCT trade triggered
  4. DPTT long triggered & negative

Actions

  1. Place DPTT long trade on previous bar
  2. Keep ACCT trade
  3. Let 1UCT trade continue
  4. Place a short TAMB trade on 3/19 bar

EUR/CAD
.25

Add: 11
Observations

  1. EES triggered
  2. AC Continuation Trade

Actions

  1. Place ACCT long trade
  2. Place TAMB short trade on 3/19 bar
  3. DPTT long

EUR/CHF
.25

Add: 7
Observations

  1. EES long trade triggered

Actions

  1. DPTT long
  2. TAMB short on 3/19 bar (not possible because current price lower than that bar’s low)

I have a second close in yellow indicating a short NLCT (non-lag continuation trade) At this time you would go short on this signal and cancel all long trades. YOu are correct then that no long TAMB trade could be pending.

EUR/GBP
.15

Add: 6
Observations

  1. Red ST 2 bars back may confirm with yellow lag today

Actions

  1. Cancel all open long trades
  2. Place EES I short trade
  3. Place TAMB long trade on 3/19 bar

EUR/JPY
.15

Add: 7
Observations

  1. EES long trade not triggered
  2. Lag turned red = Non-lag Continuation trade? But price has not closed under green ST dot, so may consider this still an up-trend. (Please see chart below)

Actions

  1. Keep EES I long trade
  2. Place TAMB short trade on 3/19 bar (not possible)

Yesterday's short NLCT trade triggered so we are considered to be back in a short postion. You should place your trades based on the short rules with a long TAMB trade figured in. In fact you woul now have 2 TAMB trades...one from yesterday.

EUR/USD
.25

Add: 5
Observations

  1. EES short trade triggered
  2. EES II triggered

Actions

  1. Place DPTT short trade
  2. Place TAMB long trade on 3/19 bar

GBP/CHF
.10

Add: 12
Observations

  1. Green ST 4 bars back looks to confirmed today with yellow lag

Actions

  1. Cancel all pending short orders
  2. Place EES I long trade
  3. Place TAMB short trade on 3/19 bar

GBP/JPY
.10

Add: 12
Observations

  1. NL turning back up to confirm up-trend
  2. EES I long not triggered

Actions

  1. Keep EES I long trade
  2. Place TAMB short trade on 3/19 bar

This does not confirm the uptrend. Only with a Green AO is the uptrend confirmed. What you have is a second NLRE because the first one of two day ago was turned into a TAMB trade.

GBP/USD
.25

Add: 7
Observations

  1. Both DPTT and 1DCT short trades triggered
  2. Downtrend continues

Actions

  1. Let 1DCT trade continue
  2. Place new DPTT short order
  3. Place daily TAMB long trade on 3/19 bar

NZD/USD
.25

Add: 8
Observations

  1. EES short trade triggered

Actions

  1. DPTT short trade
  2. Place daily TAMB long trade on 3/19 bar

USD/CAD
.25

8
Observations

  1. Conclusion from yesterday was that this is a true Trend Continuation Trade that signaled when AO changed back from red to green about 4-5 bars back and price closed above ST dot on 3/19 bar. (Please see chart below)
  2. EES I long trade placed yesterday was triggered
  3. EES II trade should have been placed on 3/19 bar also

Actions

  1. Place DPTT long trade
  2. Place TAMB short trade on 3/19 bar

Only one EES trade cona be placed or pending at any one time. To palce another one, the first one would have had to trigger on a previous bar.

USD/CHF
.25

7
Observations

  1. EES I trade triggered
  2. EES II should also have been placed on 3/19 bar and would have triggered

Actions

  1. DPTT long trade
  2. Place daily TAMB short trade on 3/19 bar

USD/JPY
.25

Observations

  1. EES long trade not triggered
  2. EES II signaled by green AO but EES I not triggered

Actions

  1. Keep EES 1 Long trade
  2. Place daily TAMB short trade on 3/19 bar

Please see corrections in blue above.

Okay...you are really getting good at this. This was much better for me to take a look at your trades.

I will be able to help you better this way
"Keep your eyes on the helpers" - Mr. Rogers
  • #425
  • Mar 20, 2008 10:08pm Mar 20, 2008 10:08pm
Quoting TimeFreedom
Based on my understanding we should have an EES2 - TRT setup today since EES1 - NLRT was triggered today? And we also have a DPTT today?

TimeFreedom
Actually by rule the EES2 trade woul dhave been yesterday except it would not have been place because EES 1 did not trigger.

However, I am not at all against you placing that trade today. Usually once it is gone it is gone. I will have to look at the charts to see if placing it late is advantageous.

Defineitely a DPTT trade for today however
"Keep your eyes on the helpers" - Mr. Rogers
  • #426
  • Mar 20, 2008 10:28pm Mar 20, 2008 10:28pm
Once again I am confused about GBPJPY. First we had a Non-Lag Reversal Trade (NLRT) on 03-18-08 bar and the next day a Non-Lag Continuation Trade (NLCT), which was triggered on 03-20-08 and now has become a NLRT. My question is do we get out of the NLCT trade now or move the Stop Loss to the high of the NLRT bar?

TimeFreedom
Attached Image (click to enlarge)
Click to Enlarge Name: atp_gbpjpy_03-21-08_jing_01.png Size: 32 KB
  • #427
  • Mar 20, 2008 11:16pm Mar 20, 2008 11:16pm
Quoting tman378
No problemo Damon. I'll see if I can post my analysis in a way that's easy to understand. I'll try taking a snapshot of each chart as I analyze, and post them ALL daily, if you think its ok. But after a while I might get tired and will hope fellow Damonians who have grasped the concept will step up to the plate.

Thank you Damon, for all your generous help so far.

Cheers,

Tony
tm, i would rather encourage u to follow ur above statement even if it means hogging few posts/space so it becomes a running study material for all of us n D can superimpose his comments/advice

GBU = God bless u
  • #428
  • Mar 21, 2008 3:20am Mar 21, 2008 3:20am
Quote

damonl Mar 8, 2008 11:56pm

Additional Exit Rule

I have been a little restless about the entry strategy and so I thought that I would add another entry rule, which will save us a lot of pips.

Exit Rule Addition

If you are in a short trade you would exit the market when the RSI 14 closes above 50 and.....

If you are in a long trade you would exit the market when the RSI 14 closes below 50.

tman378

ATP process flow (rough draft)


- Exit all open positions once RSI crosses 50


- Close all old pending orders



- Do not place any more trades in either direction until a continuation or reversal signal is confirmed.



Unquote



I have difficulties in applying the RSI Exit rule. In my view, I see it incompatible with TAMB. Would´nt we need to create a zone (say from level 30 to 70) where no exit is initiated instead of just using level 50?



Tony: I may be wrong but I think your interpretation of RSI Exit does not fit Damon´s


Thanks both for all you are doing.

Miguel

  • #429
  • Mar 21, 2008 5:35am Mar 21, 2008 5:35am
Dollar Set for Weekly Gain on Fed Steps to Restore Confidence

By Stanley White


http://www.bloomberg.com/apps/data?p...d=iRV8YGDjrNRk
http://images.bloomberg.com/r06/news...ge_details.gif

March 21 (Bloomberg) -- The dollar headed for the first weekly advance against the euro and the yen in at least a month after Federal Reserve Chairman Ben S. Bernanke accepted more collateral for loans, restoring confidence in financial markets.

The U.S. currency rose against the pound and the Swiss franc this week after the Fed made an emergency cut to the rate it charges banks to borrow and said it would swap Treasuries for mortgage-backed securities. The Fed also lent $28.8 billion to U.S. securities firms, its first extension of credit to non- banks since the Great Depression.

``The dollar is enjoying a bounce,'' said Hideki Amikura, deputy general manager of currencies at Nomura Trust and Banking Co. in Tokyo, a unit of Japan's largest brokerage. ``The Fed is working to restore confidence. U.S. investment bank earnings weren't as dire as some predicted.''

The dollar traded at $1.5444 per euro, as of 3:52 p.m. in Tokyo, set for a 1.5 percent gain in the past five days, the first weekly advance over a month. The dollar bought 99.61 yen, little changed from late yesterday and up 0.6 this week, the first weekly gain since Feb. 15. The yen rose 1 percent this week to 153.83 per euro, touching the strongest since August.

Currency moves may be exaggerated today as trading volume will be less than half of normal due to public holidays in the U.S., the U.K. and other financial markets, said Tsutomu Soma, a bond and currency dealer in Tokyo at Okasan Securities Co.

The dollar may rise to 101 yen in the next few days, Nomura Trust's Amikura forecast.

The dollar bought 5.2566 kroner from 5.2630 late yesterday, when it touched the highest since Feb. 26. The U.S. currency was up 3 percent against the krone this week. Australia's dollar was little changed at 90.27 U.S. cents, close to a five-week low and on course for a 3.7 percent decline this week.

Fed Moves
Fed officials on March 11 announced a program to swap $200 billion in Treasuries for debt including mortgage-backed securities. Yesterday, the Fed expanded collateral eligible for its auction of Treasuries to include bundled mortgage debt and securities linked to commercial-property loans.
Earlier this month, the Fed increased the size of separate funding auctions to $100 billion in March from a previously announced $60 billion.

The Fed yesterday said it had lent $28.8 billion to large U.S. securities firms under the program announced on March 16, its first extension of credit to non-banks since the 1930s.

The Fed also put taxpayer money at risk by making available up to $30 billion to JPMorgan Chase & Co. for the purchase of Bear Stearns.
`Calm Look'

The Fed cut on March 18 its target lending rate by three- quarters of a percentage point to 2.25 percent, saying ``measures of inflation expectations have risen.'' The cut was smaller than the 1 percentage point traders had expected with 90 percent certainty before the meeting, according to futures traded on the Chicago Board of Trade.

The tumble in commodity prices and the dollar's rebound gained momentum after the size of the cut sapped demand for oil and gold as a hedge against accelerating inflation.

``The dollar's rise against commodities currencies is likely to extend into next week,'' Soma said. ``Traders took a calm look at their bets and realized they can't continue to buy commodities in this environment.''
The Australian dollar may fall to 89 U.S. cents in a few days, Soma forecast.

Earnings Reports
Goldman Sachs Group Inc., Lehman Brothers Holdings Inc. and Morgan Stanley all said this week first-quarter profits fell less than analysts' estimates. Banks around the world have posted $195 billion in writedowns and credit losses, according to Bloomberg data, due to rising delinquencies on mortgages to U.S. homeowners with poor credit.

The euro headed for a weekly loss on speculation growth in the 15 countries that share the currency will slow and subprime loan losses will spread at European investment banks.

Credit Suisse Group, Switzerland's second-largest bank, said it will write down $2.65 billion after a ``small number'' of its traders deliberately mispriced residential mortgage- backed bonds. Credit Suisse also said it's unlikely to make a profit this quarter.

The French statistics office cut its growth forecast and raised its inflation forecast. Growth in France, Europe's second-largest economy, will slow to 0.3 percent in the second quarter from 0.4 percent in the previous quarter.

``The euro has some room to adjust lower,'' said Kengo Suzuki, currency strategist at Shinko Securities Co. in Tokyo. ``We're getting confirmation that subprime is shifting to the European financial sector. The euro-zone economy will start to slow from here on.'' The euro may fall to $1.53 next week, he said.

Commodity Currencies
``The dollar's rise against commodities currencies is likely to extend into next week,'' said Tsutomu Soma, a bond and currency dealer in Tokyo at Okasan Securities Co., Japan's fifth-largest brokerage by revenue.
``Traders took a calm look at their bets and realized they can't continue to buy commodities in this environment.''

The Australian dollar may fall to 89 U.S. cents in a few days, Soma forecast.

The U.S. Dollar Index traded on ICE Futures in New York, which compares the currency with those of six trading partners, rose for a third day, to 72.8 from 72.144. The gauge fell to a record 70.698 on March 17, the same day the dollar fell to a record low against the euro.

``Commodities -- one of the few remaining long trades -- have turned south,'' BNP Paribas SA strategists led by Hans- Guenter Redeker wrote in a research note yesterday. ``The currency market is next in line, forcing investors out of yielding positions. We underline our bearish commodity currency call. The dollar will rebound.''

The dollar may rise to 5.47 kroner and 85 cents per Australian dollar at the end of this year, BNP Paribas forecast.

Gold posted its biggest weekly drop since 1990, falling from a record $1,032.70 an ounce on March 17. Oil has dropped 8.9 percent from a record this week, and copper had its biggest weekly slide in 10 months.
To contact the reporters on this story: Stanley White in Tokyo at [color=#0000ff][email protected][/color]


Do you see how we ar already positioned for a contunued rise in the dollar? And...even if market analyists are wrong we are positioned if it decides it wants to turn and head back up.

Enjoy the read
"Keep your eyes on the helpers" - Mr. Rogers
  • #430
  • Mar 21, 2008 5:47am Mar 21, 2008 5:47am
Quoting TimeFreedom
Once again I am confused about GBPJPY. First we had a Non-Lag Reversal Trade (NLRT) on 03-18-08 bar and the next day a Non-Lag Continuation Trade (NLCT), which was triggered on 03-20-08 and now has become a NLRT. My question is do we get out of the NLCT trade now or move the Stop Loss to the high of the NLRT bar?

TimeFreedom
Okay...here is how I played this one.....

  1. On the 18th we would have had a NLRE position long.
  2. On the 19th we would have had a NLCT short and I switched my pending long order from the 18th to a TAMB trade
  3. On the 20th we had a NLRE since we our trade on the 18th is now a TAMB long and I would also place a TAMB short trade on the close of bar on the 18th based on the close of the bar on the 20th

I guess you could have also not changed the order on the 18th and left it a NLRE in which case you would not have placed in order for one on the 20th. But i want to keep things simple.....Close all long positions if you get a NLRE or a NLCT short and then place your TAMB trades accordingly for positioning and just the opposite for a short.

This to me is now much simpler to understand since adding the designated TAMG trades.

Hope this makes sense and was helpful.

"Keep your eyes on the helpers" - Mr. Rogers
  • #431
  • Mar 21, 2008 5:53am Mar 21, 2008 5:53am
Quoting malarraz
Quote

damonl Mar 8, 2008 11:56pm

Additional Exit Rule

I have been a little restless about the entry strategy and so I thought that I would add another entry rule, which will save us a lot of pips.

Exit Rule Addition

If you are in a short trade you would exit the market when the RSI 14 closes above 50 and.....

If you are in a long trade you would exit the market when the RSI 14 closes below 50.

tman378

ATP process flow (rough draft)


- Exit all open positions once RSI crosses 50


- Close all old pending orders



- Do not place any more trades in either direction until a continuation or reversal signal is confirmed.



Unquote



I have difficulties in applying the RSI Exit rule. In my view, I see it incompatible with TAMB. Would´nt we need to create a zone (say from level 30 to 70) where no exit is initiated instead of just using level 50?



Tony: I may be wrong but I think your interpretation of RSI Exit does not fit Damon´s


Thanks both for all you are doing.


Miguel

You may be right.....I will have to take a look at this. Perhaps placing TAMB trades should not be factored into the RSI....I still think at times it will save us pips in a tight ranging market for closing positions.

Thanks for bringing this to my attention and let's together keep in eye on this.
"Keep your eyes on the helpers" - Mr. Rogers
  • #432
  • Mar 21, 2008 6:27am Mar 21, 2008 6:27am
Hi Damon,

Would you please help me with the NLCT trade rules? It seems you did not give it out.
  • #433
  • Mar 21, 2008 8:44am Mar 21, 2008 8:44am
Not getting my head around this one for some reason. What do I do with the short position, NLCT, that was triggered on 03-20-08? Do I close it since we have a NLRE now and move the Stop Loss to the high of the NLRE or just leave the Stop Loss at the High of the NLCT?

TimeFreedom

Quoting damonl
Okay...here is how I played this one.....

  1. On the 18th we would have had a NLRE position long.
  2. On the 19th we would have had a NLCT short and I switched my pending long order from the 18th to a TAMB trade
  3. On the 20th we had a NLRE since we our trade on the 18th is now a TAMB long and I would also place a TAMB short trade on the close of bar on the 18th based on the close of the bar on the 20th

I guess you could have also not changed the order on the 18th and left it a NLRE in which case you would not have placed in order for one on the 20th. But i want to keep things simple.....Close all long positions if you get a NLRE or a NLCT short and then place your TAMB trades accordingly for positioning and just the opposite for a short.

This to me is now much simpler to understand since adding the designated TAMG trades.

Hope this makes sense and was helpful.

  • #434
  • Mar 21, 2008 8:49am Mar 21, 2008 8:49am
NLCT trade rules are here. Read #3 Trend Continuation.

TimeFreedom

Quoting Feihong
Hi Damon,

Would you please help me with the NLCT trade rules? It seems you did not give it out.
  • #435
  • Mar 21, 2008 1:43pm Mar 21, 2008 1:43pm
Quoting TimeFreedom
NLCT trade rules are here. Read #3 Trend Continuation.

TimeFreedom
Sorry but I am in the same situation as Feihong. If NLCT and TC (Trend Continuation) are the same thing then, I do not see how the rules of TC apply to the chart of Time Freedom in #426.
Damon, do we have a set of rules for NLCT?
Sorry to bother you.
Miguel
  • #436
  • Mar 22, 2008 1:46pm Mar 22, 2008 1:46pm
[quote=damonl;1915594]Please see the charts below:

Attachment

I have been following this thread and I am trying to wrap my head around whats going on here. I love the fact that this system analyzes each daily bar and then places or modifies trades as necessary. I do have a couple of questions if you all don't mind.

I see from the chart above that damonl is using the Damon smSHI_SilverTrendSig indicator. My question is whether or not any changes need to be made to the setup for this indicator or is it being used at default.

I have one more question. When we place exit orders we obviously do not use market orders to close. So how is this done? I do not see 'close' in pending orders (currently demo in fxdd). Do we just adjust the S/L?

Thanks to Damonl for a remarkable system and to the other active participants who have made this a very interesting thread.
  • #437
  • Edited 5:07pm Mar 22, 2008 2:24pm | Edited 5:07pm
It's evident that the original SHI_SilverTrend Indicator draws the TREND REVERSAL DOTS from right to left ! (closes crosse the trigger line).

I think that for Trend Continuation, Daily Pips Trend or 1CT, we need also to have bar dots to better visualise the trade decisions.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd_80321.gif Size: 24 KB
  • #438
  • Mar 22, 2008 4:39pm Mar 22, 2008 4:39pm
[quote=andante9;1917012]
Quoting damonl
Please see the charts below:

Attachment

I have been following this thread and I am trying to wrap my head around whats going on here. I love the fact that this system analyzes each daily bar and then places or modifies trades as necessary. I do have a couple of questions if you all don't mind.

I see from the chart above that damonl is using the Damon smSHI_SilverTrendSig indicator. My question is whether or not any changes need to be made to the setup for this indicator or is it being used at default.

I have one more question. When we place exit orders we obviously do not use market orders to close. So how is this done? I do not see 'close' in pending orders (currently demo in fxdd). Do we just adjust the S/L?

Thanks to Damonl for a remarkable system and to the other active participants who have made this a very interesting thread.
Hi andante,

Damon is testing that SilverTrend indicator. For now just use the standard one which has been provided by him at post #4. By the way here is the setup for it:
"Silver Trend Indicator (ST) with default settings. You may however want to change the colors of the dots. To me they were backwards. Please note that this indicator does repaint itself, and so it can be at times hard to pinpoint the exact use of this indicatror. After I am done going over my strategies with you, you will better understand how to effectively use this indicator."

As for exit rules, you just set the SL as per them, there is no "Exit Pending Order" in FXDD.

Hope this helps.

Robert
Enter Signature
  • #439
  • Mar 22, 2008 5:49pm Mar 22, 2008 5:49pm
Quoting TimeFreedom
Not getting my head around this one for some reason. What do I do with the short position, NLCT, that was triggered on 03-20-08? Do I close it since we have a NLRE now and move the Stop Loss to the high of the NLRE or just leave the Stop Loss at the High of the NLCT?

TimeFreedom
Hey TF....

Once you set your original S/L from an order you won't change that until you get an Exit signal.

So what if you are hedged while the market is in here tight. This is where your goal is to not lose your winnings.

Besides, the only reason you would close any orders outside of an exit signal is if you were 100% sure you knew where the market was going to go.

If you know 100% which direction the market will go then it will be no question which trades to leave open and which ones to close.

If you don't know 100% stick to the rules and you will see that you will be in position to want what the market wants as opposed to what you want
"Keep your eyes on the helpers" - Mr. Rogers
  • #440
  • Mar 22, 2008 5:51pm Mar 22, 2008 5:51pm
[quote=andante9;1917012]
Quoting damonl
Please see the charts below:

Attachment

I have been following this thread and I am trying to wrap my head around whats going on here. I love the fact that this system analyzes each daily bar and then places or modifies trades as necessary. I do have a couple of questions if you all don't mind.

I see from the chart above that damonl is using the Damon smSHI_SilverTrendSig indicator. My question is whether or not any changes need to be made to the setup for this indicator or is it being used at default.

I have one more question. When we place exit orders we obviously do not use market orders to close. So how is this done? I do not see 'close' in pending orders (currently demo in fxdd). Do we just adjust the S/L?

Thanks to Damonl for a remarkable system and to the other active participants who have made this a very interesting thread.
Yes...just manage your S/L setting

As for the Shi_Silver, you will notice early in the tread that each pair has 1 unique setting that will need to be placed for each pair.

If you can't find it, let me know
"Keep your eyes on the helpers" - Mr. Rogers
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