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ATP (Advanced Trading Philosophy) - Positioning For Success

  • #521
  • Mar 25, 2008 5:09pm Mar 25, 2008 5:09pm
It is my night to cook tonight so I have ordered Pizza .

I shall be away for a while, but will return to upload my EU chart, my spreadsheet and also give yo ua little update on a few up and comming things I want to do for you.

Happy pippin'
"Keep your eyes on the helpers" - Mr. Rogers
  • #522
  • Mar 25, 2008 5:27pm Mar 25, 2008 5:27pm
If anyone is looking for directions on how to attach charts here you go. Not professional, but it will do the job for now.

TimeFreedom
Attached File(s)
File Type: doc Screenshot_Direction.doc   419 KB | 650 downloads
  • #523
  • Mar 25, 2008 5:48pm Mar 25, 2008 5:48pm
Letter to Damonl

Hello. I have been looking at different forex trading systems for about 2 years now, and in my opinion, this is the best I have ever seen. After seeing it, and doing a few weeks of demo trading, my fears melted, and I made a $1,000 deposit on a mini account in order to finally get my feet wet.

I plan to get some hands on experience in all aspects of trading and soon open up a larger account. It totally agrees with the "philosophy" that I was developing. I was trying to create my own system and I no longer need to because this system solves most if not all the problems I was wrestling with when trying to apply my concepts to a workable series of methods and steps.

Even with that said, I was uncertain about a few things concerning your instructions. However, these are just a few ambiguities. Even though they might create a major problem when trying to trade, they can be very easily answered by you.

1) When waiting for a signal that the market might be getting ready to reverse, I am not certain what you are referring to when you say "Setup Bar." At first I believed that you were referring to the candlestick that establised the 2nd out of the 3 required criteria, i.e. - if the ST became red then the bar that closed to create the yellow NL signal, even if that came 3 candlesticks / days later, would be the setup bar. However, I saw a place where you mentioned a blue bar and I started thinking that you were referring to when the NL turns blue. Can you clear that up for me. I was about to enter my very 1st trade in life and I discovered this problem and could not bring myself to risk lossing money if I had made a mistake in reading the signals.

2) I never saw you specifically say the exact point where we may enter the trade. I assume that we should enter after the second stage, Trend Reversal Confirmation. Please clarify whether or not I am correct.

Thank you for sharing this wonderful system. After believing that I might never be able to enter into the world of Forex, it gave me brand new hope in trading and becoming successful!!!

bcam360
  • #524
  • Mar 25, 2008 7:17pm Mar 25, 2008 7:17pm
Quoting TimeFreedom
If anyone is looking for directions on how to attach charts here you go. Not professional, but it will do the job for now.

TimeFreedom
Thanks TF
"Keep your eyes on the helpers" - Mr. Rogers
  • #525
  • Mar 25, 2008 7:40pm Mar 25, 2008 7:40pm
Attached Image
Attached Image


As you can see from the above charts we will be only doing a few things today.

1. Placing a long NLRT above the bar that closed on 3/25/08
2. Placing a short TAMB trade below the bar that closed on 3/24/08
3. Closing out all short positions when the NLRT is triggered.

Plain and simple as that.

I think I have a few more trading strategies to pass on to you and then I want to compile all the data onto a .pdf file so that it will be easier for others to learn what we are doing without reading through the entire thread.

I hope to be able to do another trading strategy for you all over the weekend.

Talk to you all again soon.

Here is my updated spreadsheet for 03/26/08:
Attached File(s)
File Type: xls 3-26-08.xls   204 KB | 638 downloads
"Keep your eyes on the helpers" - Mr. Rogers
  • #526
  • Mar 25, 2008 8:00pm Mar 25, 2008 8:00pm
I don't understand how you have a NLRT on the U/J chart since we need the bar to close with a yellow NL first? I am referring to your spreadsheet.

Edit: Never mind. I understand how you have a NLRT for U/J.

TimeFreedom
  • #527
  • Mar 26, 2008 12:25am Mar 26, 2008 12:25am
Hi Damon,

I am trying to compile a 1 or 2 page summary of the various order entry/exit system introduced by you. May I request you to kindly do a sanity check and add/edit if I have mis interpreted anything.

Thanks in advance
Attached File(s)
File Type: xls ATP-Chi chi Sheet_V1.xls   44 KB | 401 downloads
  • #528
  • Mar 26, 2008 12:35am Mar 26, 2008 12:35am
Quoting SwingMan
Yes, yes, yes, here is the file "Damon smNonLagMA_v1" - this was a mistake from me to forget it

Hi Swingman,

The dashboard is great. If it is not too inconvenient, can you make a version of the Dashboard, which will shows the OHLC value for each pair.

Also do you have any idea if I can download the values from MT4 Platform to my Excel File.

Thanks !
  • #529
  • Edited 2:16am Mar 26, 2008 1:48am | Edited 2:16am
They are two DashBoard reverse signals for today:

Just a question to the users which can see the arrows in the DashBoard:
Is the column Tick value needed or not? I can take it off from the DashBoard.
.
Attached Images
  • #530
  • Mar 26, 2008 1:57am Mar 26, 2008 1:57am
Good morning ( at least for me ) guys,

i have found this thread few days ago, it looked really interesting for me, so I decided to read it from the start of it, here is what i would like to say mainly:

a) Here i saw probably warmest and the most helpfull traders to each other
b) system works and its logical as it is.

Some info about me - im full day trader for one year, mainly i trade using s/r/pivots and fibo in my charts.

I would love to stay with this thread and get in discussion with all of you
  • #531
  • Mar 26, 2008 2:05am Mar 26, 2008 2:05am
Quoting fx4gain
If it is not too inconvenient, can you make a version of the Dashboard, which will shows the OHLC value for each pair.

Also do you have any idea if I can download the values from MT4 Platform to my Excel File.
- I think that the close value in DashBoard is enough to take decisions. You must anyway check the charts.

A little remark: if you set the time frame of the DashBoard on M1, the prices are refreshed every minute. The disadvantage is only that the whole calculation is restarted, and I must make a little adjustement to avoid this.

- In the Metaquotes forum you can give to search "excel", and you have a lot of discutions about downloading quotes.
Here a link: http://forum.mql4.com/11257
Quote
When I put the following, "=MT4|BID!USDCHF" into an excel cell the USDCHF BID is exported successfully to excel.
  • #532
  • Mar 26, 2008 2:39am Mar 26, 2008 2:39am
Quoting SwingMan
They are two DashBoard reverse signals for today:

Just a question to the users which can see the arrows in the DashBoard:
Is the column Tick value needed or not? I can take it off from the DashBoard.
.
It is OK for me to take off tick value.
Thanks for your valuable contribution.
Miguel
  • #533
  • Edited 4:37am Mar 26, 2008 4:13am | Edited 4:37am
Quoting malarraz
It is OK for me to take off tick value.
Miguel
OK Miguel, in the new DashBoard version I taked off for you the TickValues column

In the new version 1.2 for DashBoard:
- only prices are refreshed if the time frame of the windows differe from the signal calculation window.
- for current reverse signals I write the entry prices

In the new version 1.2 for TradingSignals:
- alerts for current signals
.
Attached Image
Attached File(s)
File Type: mq4 Damon smTradingSignals_v1.2.mq4   8 KB | 522 downloads
File Type: mq4 Damon smDashBoard_v1.2.mq4   24 KB | 529 downloads
  • #534
  • Mar 26, 2008 4:20am Mar 26, 2008 4:20am
I only have a few minutes, but it did it to me again, got almost to where I was up my 10% close out and then turned around to where I lost all my profit.

That is twice this month on top of what I have already made in profit which has alsl decrease a few % because of this turn around.

I think what I am going to do is add a percentage calculation to my spreadsheet where we can manually input our equity balance and it will calulate values starting at 5% in profit. Then I will start going on a 3% drawdown after I have reached my 7% profit area, which means that if I reach 8% in profit I will close all trades when my equity retraces back to 5% this way I am not in a position to lose all my gained profit.

Maybe we should just do a straight 3% equity drop at anytime and we begin again.

This would have been a good month had I been using this formula all along.

Also I am going to be revising the Exit strategy even further and making it a lot simpler and also allow is to keep more pips than we currently are.

Gotta run and I wll get to all your posts tonight
"Keep your eyes on the helpers" - Mr. Rogers
  • #535
  • Edited 9:07am Mar 26, 2008 8:43am | Edited 9:07am
Only to test the last versions 1.3 with ALERTS, I used the M15 time frame.
.
Attached Images
Attached File(s)
File Type: mq4 Damon smTradeSignals_v1.3.mq4   10 KB | 606 downloads
File Type: mq4 Damon smDashBoard_v1.3.mq4   26 KB | 549 downloads
  • #536
  • Edited 9:41am Mar 26, 2008 8:54am | Edited 9:41am
Swingman.

I am still struggling to get those arrows in the chart.
Dashboard opens, so I cannot be far away.

Freddy

Sorry, correction, did not notice you already put up version 3, will correct ASAP


Update:
After downloading:
arrows show up fine, good job, SwingMAn
  • #537
  • Mar 26, 2008 9:28am Mar 26, 2008 9:28am
Quoting fx4gain
Hi Swingman,

The dashboard is great. If it is not too inconvenient, can you make a version of the Dashboard, which will shows the OHLC value for each pair.
Hi SwingMan,

I agree with fx4gain and his idea of the OHLC values for each pair with one slight adjustment.

For me it would be enough to have the H and L of the last bar. When Iīm placing my orders I do this based on MT4 charts as the signals are based on these charts as well. This way I always have to get the data of the chart manually.

Having these details in the dashboard would allow me to place my orders faster and easier. Itīs just an idea and if its too much work, donīt bother doing it. I appreciate your effort.

Cheers and cya @ Aktienboard
DaBuschi
  • #538
  • Mar 26, 2008 11:39am Mar 26, 2008 11:39am
Quoting damonl
I only have a few minutes, but it did it to me again, got almost to where I was up my 10% close out and then turned around to where I lost all my profit.

That is twice this month on top of what I have already made in profit which has alsl decrease a few % because of this turn around.

I think what I am going to do is add a percentage calculation to my spreadsheet where we can manually input our equity balance and it will calulate values starting at 5% in profit. Then I will start going on a 3% drawdown after I have reached my 7% profit area, which means that if I reach 8% in profit I will close all trades when my equity retraces back to 5% this way I am not in a position to lose all my gained profit.

Maybe we should just do a straight 3% equity drop at anytime and we begin again.

This would have been a good month had I been using this formula all along.

Also I am going to be revising the Exit strategy even further and making it a lot simpler and also allow is to keep more pips than we currently are.

Gotta run and I wll get to all your posts tonight
Damon,

Just remember, you can't have a perfect system, doesn't exist. A few drawdowns now and then are to be expected. And if you start cashing out too soon, you might miss some longer runs!!

I think that was a crazy night for EUR last night, it retraced all the way back and reversed in quite a small amount of time.
Disregard all prognostications.
  • #539
  • Mar 26, 2008 11:48am Mar 26, 2008 11:48am
Here are three scripts which will help with closing open and pending trades:

1. close all open positions
2. close all pending orders
3. close all open and pending orders

Note: Place the scripts in the following directory \[Broker Name]\experts\scripts.

Direction: Make sure the 'Allow Live Trading' check box is checked by selecting 'Option' from the platform menu and then selecting 'Expert Advisors' tab. In the 'Navigator' window expand the 'Scripts' icon. Select and drag the script you want to use onto your chart and your orders will begin to close.
Attached File(s)
File Type: mq4 Close_all_open_positions.mq4   1 KB | 289 downloads
File Type: mq4 Close_all_pending_orders.mq4   1 KB | 226 downloads
File Type: mq4 Close_all_open_and_pending_orders.mq4   1 KB | 272 downloads
  • #540
  • Mar 26, 2008 12:14pm Mar 26, 2008 12:14pm
Quoting damonl
Hello CV....

Based on the chart above you would already be long from yesterday's NLRT. All I see for today is a DPTT (Daily Pips Trend Trade). You should do a search this thread for that trade style and you can read about it.

Don't forget to put in your Trailing Stop and close the order the first day that you are in profit.



Opssss...almost forgot about the TAMB trade that should be plced beneath the close of the bar on 3/24/08. You can also read about that trade on this thread as well


Hey Damon thanx again 4 ur fast answers!!

I wonder how u can place ur orders , post general explanations of ur system and assist all of us with other posts in the meantime!!

Well good 4 u and 4 us...

I replay only now to u as yesterday night (it was night 4 me) i was disconnected and i didnt reconnect because of time...anyway ur answer was syntetic but useful...i'm going to study the DPTT.. as a step following the NLRT entry rule...when i'll feel comfortable with thiss i'll add TAMB strategie too.

Good pips!! bahbye
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