ATP (Advanced Trading Philosophy) - Positioning For Success

Hi Damon and friends,

Hope everyone had a pleasant weekend. Thank you Damon for posting the new rules and for offering new tweaks to the system. I'll have to find some time to test all these new changes/additions. My time is becoming more and more limited these days because of a very important family matter I'm attending to. In fact I'm about to go out and take care of some things shortly after this. So today I won't be able to do my daily analysis. Actually I'm still a bit unclear about exactly what type of trades to open for each pair that has been closed out abruptly as we did right before this past weekend. If we continue to place normal trades as if we did not close out all trades, we may be left with only daily profit-taking trades like DPTT and no long-term or compounding trades like NLRT or TRT. So I'm wondering, Damon, if you can suggest a type of trade that we can place right after we close out trades based on equity level, or after we get a Stoch. signal to close trades for a pair. This type of trade should effectively allow us to get right back into the flow of things and continue to build up profit as quickly as before we closed out the previously open trades. I hope you can understand the point I'm trying to make here.

Thank you, Damon. And I'll see you all later. Good luck with your trading, everyone.

Tony

Please get back soon. Looking forward to your daily analysis.

TimeFreedom

Count me in. I will add the Solar Wind indicator and observe it's day-to-day behavior.

TimeFreedom

I second that question. For me, I have been confused because it goes against logic that we should exit out all of our NLRT and similar trades at 10% profit and not enter any similar trades after that. It seems that I will miss out on a lot of pips if I have a good day and the 10% is reached very quickly. Once I placed trades at the open of one day (about 7pm my time) and went to bed for the night at around 10pm showing a small profit. By the time I woke up at about 4am I had not only reach the 10%, but I think it went well about 10% and came back down to 10% again.

I could make it more difficult to reach the 10% mark by using smaller lot sizes, but I am sure that smaller lot sizes can't be the answer. I would be limiting my potential profit. Of course, I would like to maximize it. I think that we should develop some type of formula that calculates lot size based on the current performance of the ATP system and take profit percentage based on the performance of the trader. This would mean a bit more work for us though. But I am sure it would make us more efficient traders and it would solve the problem that me and tman are having because we would not be closing out our trades early enough to worry about entering new ones. We would stay in our trades till they reach the optimum level of profit.

bcam

@ Damon;

Found some info on Solar Wind indicator here and here.

TimeFreedom

Seems we are getting better daily but I think there are too many rules already. DTPP, NLRT, IDCT, etc... Can someone just let us know what's happening?

Actually, I am glad that we have a lot of rules. It's rough work keeping up, but if trading was easy, everyone would be doing it. It makes sense to me that the more weapons you have in your arsonal the better you will do in battle. Variety is our friend here because the market is complex and it is changing all the time. I think a more fixed strategy would be a failing strategy. ATP is an ultra aggressive strategy that tries and does a good job in taking all possible factors into consideration.

The problem is not the strategy. The problem is that we all need to get our skulls wrapped around it. I am still making the effort to do that and I will remain encouraged because I see myself progressing all the time. This is the 1st system where I truly feel that I have found all the answers. I was wanting to create something like this myself, but I didn't have the knowledge or the experience to even to do so. Thanks Damon for materializing the dream...

With that said, I can't and don't even want to simplify the system. But I can give directions:


Non-lag Reversal Trade - NLRT (EES 1 and 2)


Post #82
http://www.forexfactory.com/showthre...de#post1892632

Non-Lag Position Trade - NLPT


Post #630
http://www.forexfactory.com/showthre...PT#post1932302


Daily Pips Trend Trade - DPTT

Post#100
http://www.forexfactory.com/showthre...de#post1893535

Non-Lag Continuation Trade - NLCT


Post #444
http://www.forexfactory.com/showthre...t=NLCT&page=30

1-Up/1-Down Continuation Trade -1 Up / 1 Down

Post#117
http://www.forexfactory.com/showthre...de#post1895538


AC Continuation Trade Strategy - ACCT


Post# 251
http://www.forexfactory.com/showthre...t=TAMB&page=17

AO Divergence Trade - AODT


Post #458
http://www.forexfactory.com/showthre...DT#post1917872

Turn Around Momentum Builder - TAMB

Post#629
http://www.forexfactory.com/showthre...=72891&page=42

Pivot Point Trading System - PPTS


Post#775
http://www.forexfactory.com/showthre...=1#post1949957

Exit Rules Update


Post #596
http://www.forexfactory.com/showthre...MB#post1927430


Money Management ("10% Profit Multi Trade Close")


Post#634
http://www.forexfactory.com/showthre...trades&page=43


I think I got all the correct info. Anyone can feel free to correct me if they find something out of date or if they have a suggestion on the above info. It's not much but I hope it helps someone out. I have these links and the rules in word docs just in case I need it for myself and I have found it helpful.

bcam

Awsome summary - thank you so much for this effort. I also want to follow alogn, but besides not always being around at new candle time - I found it difficult to find exactly what the current rules are. This should help - at least in the rules department.

If anyone can post the current ATP template that is in common use, it would be very much appreciated.

You are very welcome. I have benefited a lot from the members here who ask questions, give advice, and who create helpful tools. I am more than happy to give something back in return.

I have noticed that the summary above is good for finding a rule and also finding out what other members think about the rule or for getting further detail about the rule from members who ask and answer questions. Also Damon will answer questions about the rules. Many times, it can be a lot more helpful than simply reading a list of rules.

However, there may be some times when you will want a list instead. I tried to attached a word document that should be helpful, but it would not upload. That is why I will include it in this text instead. I hope it will not take up too much space here. Sorry in advance. I also hope you and all the other members here find it useful. There is also a PDF doc that you can uses. I will attach it for anyone who has not downloaded it already...

bcam

____________________________________

Note: Be sure to download the “Trade Manager” spreadsheet from one of the following locations:

http://www.2shared.com/file/2974914/b79dfa56/ATP-Trade_Manager.html

http://www.streamupload.com/download.aspx?fileID=2008311181927


Prelude to a Pip

Hello......

I would like to take this opportunity to reveal to you my trading philosophy. I have posted one or two methods around the forum, but thought I would put everything together on one thread. This is no over night task, and I will add more when I get a chance.

My guess is that 99% of you will not even give this method a try. Why?.....because it takes time everyday to place your trades and to manage open positions. In fact if you traded all pairs (listed in post #3 below) you could spend at least 2 hours per night once you've learned what to look for. And guess what.....this has got to be one of the most boring things to do in your life. Night after night spending 2-3 hours preparring for tomorrows trades, but....when I am done, the rest of the time is all for me because there is no in-between monitoring needed. In fact, my nightly encounters with my trades have become in ways therapuetic and indeed have changed my life for the better. Trading? Therapuetic? This guy has got to be nuts.......

What I have done I have mostly taken from others and then modified it (for better or worse) into something that works for me. My biggest thanks go to the books I have read by Bill Williams. His philosophy struck the right chords with me and although I also use his indicators, I use them (for the most part) in an entirely different manner then he did. Other things I have gathered along the way, some from people on this forum and I am eternally greatful for all that they showed me.

For the longest time I bought everything I could get my hands on. Learned everything I could. Read everything that had to do with trading. Last week my best friend called me and showed me an e-mail he had gotten regarding Forex from a company offering good returns and blah, blah, blah. He encouraged me to check them out. After doing some reasearch and talking with this company, I told my friend that I didn't think I needed to do any more purchasing of anything. This was a milestone for me and one of the reasons I decided I was ready to put this all down on paper and share it with all of you.

Trading is a very fluid thing and you should always inject your own personal beliefs, but most importantly remain ready for anything. I as well am looking for ways to make this better, and so you may find that some things may change from time to time as I come to other conclusions. I will of course notify you when anything changes.

With that said, I hope that you enjoy this thread. I am doing this as much for you as I am for me, basically on the premise of what one man said...." when I share knowledge with others I learn it twice".

If you are wondering what my main philosphy is, well here it is:to not lose all my money when the market is ranging and to make a killing when the market is trending.

This system utilizes right now at least 10 different entry points, multiple entry points into the market which can mean thousands to tens of thousands of dollars in profit in a trending market.

So enjoy my thread and I look forward to any comments that you would like to make as we go along. Also, I will eventually hopefully get to the point where I will upload nightly charts and will of course be around to answer any questions that you may have.

Let's have some fun together and make some money.


A Common Sense Approach to Money Management

Money management is a very personal thing and in most cases is driven by fear more than it is driven by common sense. My goal here is to take away your fear to trade and by doing so, you will be able to trade 100% objectively. In a sense, entering and exiting the market without thinking.

I see that there are two basic MM philosophies. I will introduce you as well to a third.

1. Using standard lot sizes and then increasing those lot sizes as your equity increases in value.
2. Using a percentage of your account every trade like 2%.
3. Using standard lot sizes, but choosing 1 or 2 tradings strategies where you would double your normal lot amount.

Which MM strategy works best with ATP?

IMHO.....I feel that 1 & 3 above will work the best and they will also be the easiest to implement. #2 is very unrealistic for ATP because of the mass amounts of trades that you will be entering. There really is no need for it and also using this method makes it harder to re-coup your loses.

So, here is my take on MM especially In regards to ATP.

I recommend that you start with .25 lots for every $10,000 in equity (Some pairs based on daily movement will be less). Notice that I use Equity and not Account Balance for figuring the lot size. Roughly this equates to .01 lots for every $400 in equity. It also means that you can start trading all the currency pairs listed below (at the same time) using the ATP method with only $400 on a mini account.

This means that when you have been on a hot streak and your Account's Equity increases to $10,500 or more you would then raise all new orders by .01 pips, and so on and so forth. Like wise you would decrease by .01 pips if your Equity fell back to say $10,300.

Notice I said "all new orders". I say "all new orders", because as you will see it will be a nearly an impossible task to change pending orders that were placed before the new lot size took affect. Although you are welcome to change these as well, I prefer to leave my "already pending orders" the lot size that they were when I placed them even if my next batch of orders went down .01 lots.

Then comes into play the 3rd MM strategy above. I will take 2 orders and two orders only and double the amount of pips for these 2 orders only. These will be continuation orders once our trade direction has been established. You may choose to use different orders than I do, but I will reveal which orders I double down on when I introduce you to that particular entrace strategy.

Some people reading this might think they will not make any money trading such small lot sizes and all I can tell you is that you have not put ATP to the test nor anything else like it to the test. In fact, many weeks I have increased my Equity by 15% or more in one week by utilizing these small lot size factors.

The best part is that when the market is ranging and you are more apt to losses, your losses will be very small, but when the market is trending and you are adding entry after entry, your profits can sky-rocket

It is indeed a win-win situation when "Riding the Trend" while protecting your assests when the market is ranging.

With that said, the first thing that any trader needs is to find a trading style they are comfortable with. Once you find your comfort zone, you will find a MM strategy that works the best for you. This is just how I prefer to "Manage My Equity".

Here is a list of lot sizes per pair starting with $10,000 in equity on a mini account. You can of course do the math if your Account's Equity is currently above or below 10K:




Original

AU - .25
EU - .25
GU - .25
UCAD - .25
UCHF - .25
UJ - .25
GJ - .10
GCHF - .10
EG - .15
NU - .25
EJ - .15
ECHF - .25
EA - .25
ECAD - .25

Revised

AU - .35
EU - .35
GU - .35
UCAD - .35
UCHF - .35
UJ - .35
GJ - .15
GCHF - .15
EG - .25
NU - .35
EJ - .25
ECHF - .35
EA - .35
ECAD - .35






Preparing Your Charts for Financial Success

You will need to prepare your charts before any trades can be taken. I like to keep things as simple as possible, so you will find that my charts are not overly cluttered and that I only use a few indicators which I have grown to rely upon.

I trust my indicators the way that I have them set-up and use them. For this reason I am able to enter the market on que without a second guessing myself. Completely objectional trading without emotional connection....a winning combination

Oh...and did I mention that it will only take you a few hours each evening to get ready for the next days sesson? ATP will allow you to truly take advantage of the free time that full time trading offers you. So enjoy.....

Charts: Daily

Pairs: Any ones that you want to trade. See post #3 for a list of the pairs that I trade.

Platform: All my trades are based on the MQ4 platform with a Sunday bar.

Indicators:

1. Awesome Oscillator (AO) with default settings. This indicator can be found by clicking Indicators-Bill Williams of your MQ4 platform.
2. Accelerator Oscillator (AC) with default settings. This indicator can be found by clicking Indicators-Bill Williams of your MQ4 platform.
3. 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. SHI_SilverTrendSig.mq4

I wanted to give you the settings for the Silver Trend that I am using. When I first started I was using the default settings, but upon further review, I have changed the following settings for the following pairs as they made it a bit easier to enter and exit the market.

The setting that I have changed is only one: Otstup. This can be found inthe inputs tab of the Indicator properties.








If you would like to follow along and see what I see, please change this setting to below value for each pair listed.

AU = 15
EU = 15
GU = 20
UCAD = 10
UCHF = 15
UJ = 15
GJ = 15
GCHF = 20
EG = 15
NU = 10
EJ = 15
ECHF = 20
EA = 30
ECAD = 20

1. Non Lag indicator (NL) Under settings change "color=1" and "colorbackbar=0". Leave everything else as it is. NonLagMA_v4.mq4
2. Stochastic Oscillator (SO) with settings at 5,3,3. You will also need to identify levels at 91 and 7. Use the Simple Moving Average setting based on the Close/Close. You will want to drag this so it overlays your Accelerator Oscillator. You can do this by going to the "Navigator" section of your platform, find Indicators-Bill Williams-Accelerator Oscillator and "click, hold, drag and release over the Accelerator Oscillator on your chart. A very easy task.

Determining Trade Direction - Locating the Trend

This section is very important. Why?????? Because over 90% (rough estimate...it may be higher or lower) of our trades will be made in the direction of the trend. IMHO the trend is where the big money is made. That is why we will do everything humanly possible to locate it as early as possible.

The best part....it isn't as hard as it sounds. In fact, following these instructions will make it very easy for you to find and profit from the trend. So let's get started.......

There are 3 different techniques that we will use to determine the trend and thus trade direction. It is pivotal that you understand these intimitely. The trend is your big-time ticket to success, so why not give it a big hug everyday. It is also safe to say that on a few occassions the trend will define itself in a different order then what is listed below. This does not matter in the least when it comes to placing our trades.
___________________________________ ___

1. Trend Reversal Indication: This will most likely be your first indication that the trend may be about to reverse and change directions. 3 of 3 things need to happen before we can consider that the trend is about to either change directions or retrace.

Please remember that some times this will give us a false signal and so we need to be very careful here. This is only what we are using to let us know that the trend may be changing directions.

The 1st and 2nd things that need to happen is that the ST will give you a dot of a different color at that close of a bar and the NL will have closed yellow. These do not need to happen at the same time (in fact many times they won't) nor do they need to happen in any particular order. Either could happen first, but both will need to be present (even if a few bars apart) before we verify trend reversal with part #3. Either one on there own really means nothing.

The 3rd indication that the Trend Reversal Indicator is possibly going to give us an early detection of a trend reversal is that any day after both the 1st and 2nd triggers have become true, the price pierces the high/low (in direction) of the set-up day bar.

2.Trend Reversal Confirmation: This is how you will confirm that the trend is indeed about to reverse. It is important to say that just because we get this signal does not mean that we know how far it will go before it reverses again. 3 of 3 things need to happen before we can consider that the trend has indeed reversed.

The 1st and 2nd things that need to happen is that the ST will give you a reversal color dot and the AO has confirmed the direction of that ST dot at the close of the bar. These do not have to happen on the same bar or in any order.

The 3rd thing that needs to happen in order for us to consider that the trend has reversed is that the price of any bar has to pierce the high/low (in direction) of the set-up day bar.

4.Trend Continuation: This is how you will determine if you had gotten a false reading from either the Trend Reversal Indication or the Trend Reversal Confirmation. 3 of 3 things need to happen for you to consider that the trend is actually going to continue and not reverse as indicated. This will more than likely reveal itself after the Trend Reversal Indication as opposed to the Trend Reversal Confirmation.

The 1st thing that needs to happen is that you need to have a qualified Trend Reversal Indication, Trend Reversal Confirmation or both. Meaning the 3 of 3 items need to be true for one or both. If 3 of 3 items are not true for one or both, then of course we never had a true Trend Reversal Indication in the first place. I will not post a chart on this as they are both described in this same post above.

The 2nd thing that needs to happen is that the AO has to have gone from agreeing with the ST to disagreeing with the ST and a new ST dot has not formed.

The 3rd thing that needs to happen is that the close of any bar after the AO disagrees with the ST closes above/below (based on direction) the ST dot. We will consider that the trend is going to contiune in it's previous direction.

4.One very impotant thing to remember: As the ST indicator will repaint itself, you will always use the newest information available at the close of any bar. Old news is just that and should not be relied upon.

So now you have it . Now you know how I determine the trend. At a first glance this may seem difficult to comprehend, but I assure you that determining trend direction using this method takes nothing more than a quick glance each evening for each pair. It really doesn't get any easier than this.


Early Entry Rules - General Rules

To get ready for Sunday nights open, I thought I would start by giving you some of the entry rules.

There are 3 Early Entry Strategies that I would like to go over with you right now. I should have a few hours to give these to you as Garrison Keeler is on NPR and I love to study my charts and listen to his program.

There are a few general rules that I want to put down first regarding the Early Entry Strategy and they are these:

1. There is never a set order as to which these trades will appear. We will place an order with whichever one happens first.
2. If one order is placed with one of our Early Entry Strategies, we will not place any other orders until that order has been triggered or a reversal signal has presented itself. The reason being is that these are the trades, because they are so early that we are actually in a good position to lose.
3. After that original order has been filled we will proceed to placing the rest of our orders as they present themselves.
4. Once the 1st EES pending order triggers and we get a valid signal to place a second order, we may want to double the lot sizes for this second order because the majority of the time when the 2nd pending EES order is triggered, the trade will continue for a few more days at the very least. This is of course discretionary and I would not reccomend this if you are not familar or comfortable with the system.

Well...I guess I don't have as much time as I thought. My wife got us a movie to watch so I will have to check in later.

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.


Content Links (use ctrl + click to link to topics in this document)


ØEarly Entrance Strategy (1 of 2) Non-lag Reversal Trade - NLRT

ØEarly Entrance Strategy (2 of 2) Trend Reversal Trade
___________________________________________

ØNon-Lag Position Trade Rules - NLPT

ØNon-Lag Continuation Trade Updated - NLCT

ØTurn Around Momentum Builder Trade - TAMB

ØDaily Pips Trend Trade (DPTT)

Ø1-Up/1-Down Continuation Trade – 1U/DC

ØAO Divergence Trade - AODT

ØPivot Point Trading System – PPTS

ØAC Continuation Trade Strategy - ACCT
____________________________________________________________

ØUpdated Exit Strategy


Early Entrance Strategy (1 of 2) Non-lag Reversal Trade - NLRT

Here I will introduce you to one of our Early Entrance Strategies (EES).

Basically, this strategy for entering is the same strategy that we use for exiting positions if we are using the Early Exit Strategy. The signals are the same and at the same time you would be closeing any open positions you would be opeining new ones in the other direction.

Here are the rules:

1. We need to see a ST dot signaling a reversal of direction at the close of any bar and a NL that has closed in yellow. These do not have to happen in any particular order or on the same bar, but both need to happen to give us a valid entry point.
2. Once we get both signals, we would place a long or short pending order at the high +1 pip + spread above the high of the set-up bar or a low pending order 1 pip below the low of the set-up bar depending on the direction of the trade.
3. If this is the first EES to signal, we will not place any additional orders until this order has triggered or we get one of our reversal signals.

Early Entrance Strategy (2 of 2) Trend Reversal Trade

Here I will introduce you to the 2nd Early Entrance Strategy (EES).

Just becuase this is the second one introduced does not mean that it won't end up being the 1st or even the 3rd one to trigger on the chart.

In the event that it is the 2nd one to signal, I ususally do not place any orders for it unles the 1st signaled EES has triggered.

Likewise....once the 2nd EES trade triggers we are then free to place trades at will based upon all the rest of our rules.

Here are the rules:

1. We need to see an ST dot that has changed color indicating a reversal may be on the horizon
2. We need to see the AO close in the reversal color as well. If you have your charts set-up like mine then both the ST dot and the AO will be the same color.
3. These two signals will very rarely happen on the same bar and they don't have to in order to be considered valid signals. Nor do they need to happen in any particular order.
4. Once a signal is generated you would place either a long or short pending order 1 pip + spread above the high of the set-up bar or 1 pip below the low of the set-up bar depending on trend direction.

Setting Your Stop/Loss and Exit Points

Stop Losses and exit points are a very important part of trading. If you set them to close you can get stopped out too early and if you set them too far away you either lose to many pips in one trade or else give too many back as the market retraces. Personally I would rather give some pips back then lose too many before the trend actually developes.

Managing your initial S/L is a relatively simple task. I can't think of one single trade where you should not put in a S/L at the same moment that you decide to make a trade. Because of the needed time to manage your trades, I prefer to make this a very simple process. My S/L settings are as follows:

1. If you are pending a short order, your S/L would be set at the high of the set-up bar + 1 pip +spread
2. If you are pending a long order, your S/L would be set at the low of the set-up bar - 1 pip.

I stick by this rule no matter if the S/L 100 or 350. Because we are going for the trend, you need to give each of your trades room to develope. The only time I will modify this is if the S/L would be too low...like say 50 or something. In a case like this I will most likely default to 100 or use the high or low of the bar that is previous to the set-up bar.

Managing your positions and exiting your trades is probably the most important aspect to this whole strategy. Later I will dedicate a whole post to this philosophy and offer you a sreadsheet for making your job as easy as possible. For now we are going to look at the triggers that would get you to change your S/L settings based on trend reversal criteria.

My basic philosophy for exiting the market is this: I want to give the market every chance to continue in the direction of the trend because that is where the big money is made and I will not fret any small losses I take along the way because they will pale in comparrison to what the trend will give me in profits.

I have identifed three different strategies that you can use to exit the market. Once again, exiting the market is a very personal thing. You should chose the option that you are most comfortable with.





Defined Exit Strategies:

1. Early Exit Strategy: This exit strategy is signaled when there is a ST dot that is present at the close of a stick and the NL has closed in Yellow. This would also be our Early Trend reversal indication as described in an earlier post. Once this exit strategy has been signaled, you would then place your close orders 1 pip + spread above the high of the bar that just closed for short trades or at 1 pip below the low of the bar that just closed for long trades. These signals do not have to happen on the same bar, but both need to be present in order to be a valid signal. Usually they will happen within 2 bars of each other.
2. Timely Exit Strategy: This exit strategy is signaled when the ST dot and the AC are aligned on the close of the same bar. If you look at the chart below you will see that my upper ST dots are colored Red and my lower ST dots are colored Lime. This means that for me to consider closing a long position I would need a red ST dot and the AC red on the close of the same bar only. And...in order to close a short postion you would need a green ST dot and the AC green on the same bar only. Once again you would then place your close orders 1 pip + spread at the high of the bar that just closed for short trades or at 1 pip below the low of the bar that just closes for long trades.

1. Trend Reversal Exit: This exit strategy is signaled when the ST dot and the AO are the same color. This change will rarely happen on the same bar. Most times the ST dot will precede the AO. You would exit a long trade when the ST dot is red and the AO has gone to red. You would exit a short trade when the ST dot has gone to green and the AO has turned green. When this happens, you can either simple exit the market at the open of the new day. or set your exit orders above the high or low as described in the other two exit strategies above.

General Exit Rules: Here are a few general rules to follow with your S/L and Exit Points.

1. Once you set yoiur S/L or exit points don't change it. Get comfortable with feeling confident about the decision you made even if it results in a loss
2. When I say don't change it, I mean don't change it until you get a new signal. then modify your Exit postion to that new signal.
3. Always leave that new signal uncahnged until you get a new valid signal.
4. Always use the most recent signal when modifying your Exipt points.

As for my personal opionion. I will use the Early Exit Strategy on very few occassions which I will get into when I intruduce you to that particular trading strategy. I will always exit using the Timely Exit and if that doesn't trigger I will always exit of course then with the Trend Reversal Exit. If I end up using the Trend Reversal Exit and am up a substantial amount of pips I will set orders to exit just to give my trade yet another chance to continue. If my pips in profit are low I will simply exit at the open of the next trading day.

Once again, you should use a strategy that works for you in a method that works for you. These ideas can either be guidlines to producing your own strategy or to use a you see fit.


Non-Lag Position Trade Rules - NLPT

Now I would like to introduce you to my Non-Lag Position Trade (NLPT)

This was designed to pick up some of the slack that was lost when I became more selctive with the TAMB trades. This is a much safer trade and because we do not place as many at one time is a more realistic approach to when we are not having any other pertinent signals.

Here are the Basic Rules:

1. Normal S/L and Exit rules apply
2. This trade is place when ever the NL has gone to yellow (NLRE/S)
3. This trade will always be placed against the direction of the NL
4. I am choosing to only have 3 pending NLPT at one time in any one direction (6 total), but a different number might work better for you. If you get to a fourth, simple close out your earliest one and place the new one.
5. We place these trades on top of any other signals we get from any of our other trade strategies.

Non-Lag Continuation Trade Updated - NLCT

Today I would like to re-introduce you to the Non-Lag Continuation Trade (NLCT)

Please understand that many people feel that you can overtrade the market. I feel you can never have to many reasons to open up another postion in the direction of the trade. After all, how much money will you make if you are not in the market (just look at your weekly paycheck).

That is why I have found a way to determine the trend and then trade with it, by entering as many positions as I can. The minor technicallities of each trade are really not all that important. Finding the trade and learning to not exit to early are the predominant genes.



Here are the General Rules:

1. All you need to have is a NLRT signal. Once you have this you can have a NLCT
2. This is a long term trade with standard Entry, Exit and S/L rules applied.

Here are the Rules for Entry a Long Position:

1. First you need to have a NLRT signal long.
2. Then you wait for the NL to close in yellow again but pointing again in a upward direction without the formation of a red ST dot after the last green ST dot. If you get the formation of a red ST dot with a yellow close of the NL then of course this would be a NLRT signal and not a NLCT signal.
3. Then you would enter the market as per our standard entry rules.

Here are the Rules for Entry a Short Position:

1. First you need to have a NLRT signal short.
2. Then you wait for the NL to close in yellow again and pointing in a downward direction without the formation of a green ST dot in between this signal and the last red ST dot. If you get the formation of a green ST dot with a yellow close of the NL then of course this would be a NLRT signal and not a NLCT signal.
3. Then you would enter the market as per our standard entry rules.

Daily Pips Trend Trade (DPTT)

I would now like to introduce you to my Daily Pips Trend Trade.

Here are the basic rules:

1. This trade is usually a 1 to 3 day trade.
2. We will exit our position the first day that this trade closes in profit.
3. This trade is placed daily and only in the direction of the trend.
4. If the trade does not trigger on the day it was set, then the trade is cancelled.
5. Before we can consider that this strategy has given us a valid signal, first one of our three EES trades must have signaled and triggered.
6. I open up one of these trades everyday in the direction of the trend even if yesterdays triggered, but did not end in profit.
7. Please use the Trade Management Spreadsheet to locate your T/S for each pair. Very rarely is the T/S hit, but it is important in case of a major support/resistence level beeing hit. Please remember to place this T/S on every Daily Pips Trend Trade you place

Here is how you place this trade:

1. Placing a Long Daily Pips Trade
   1. After you have had a valid EES signal and trigger you would then place a long pending order 1 pip + spread above the high of the bar that just closed on the following day.
   2. Our standard S/L setting is used
   3. Once the trade closes in profit, we will liquidate the postion.
   4. You would continue to place these trades daily until the trend changes

2. Placing a Short Daily Pips Trade
   1. After you have had a valid EES signal and trigger you would then place a short pending order 1 pip below the low of the bar that just closed on the following day.
   2. Our standard S/L setting is used
   3. Once the trade closes in profit, we will liquidate the postion.
   4. You would continue to place these trades daily until the trend changes.

1-Up/1-Down Continuation Trade

Today I would like to introduce you to my 1-Up/1-Down Continuation Trade or (1UCT or 1DCT)

This is a very simple trade to spot and the rules are very simple as well.

Here are the General Rules:

1. This trade is always placed with the current trend as determined by our rules. It will never be placed against the current trend.
2. Normal S/L rules apply
3. You will not have to worry about this trade triggering early. The purpose of this trade is to get back in the groove after a retracement.
4. If the trade does not trigger on the day you set the pending order, you will cancel it at the close of the next day and as you will see that unless the trend changes directions, this trade will be set with new parameters.
5. You can never have a 1UCT or a 1DCT if you had a signal of a possible change in direction of the trend.

Here are the Specific Rules for a 1UCT:

1. You must be in a confirmed uptrend which means that no less than two of our EES signals would have triggered.
2. While in an uptrend if a bar has a high that is lower than yesterday's high, you now have a set-up for a 1UCT.
3. Place your pending order as per our rules above the higher of the two highs. Which will always be above the bar that is previous to the bar that just closed.
4. From here, follow all rules above and all other rules put forth for the ATP.

Here are the Specific Rules for a 1DCT:

1. You must be in a confirmed downtrend which means that no less than two of our EES signals would have triggered.
2. While in this downtrend if a bar has a low that is higher than yesterday's low, you now have a set-up for a 1DCT.
3. Place your pending order as per our rules below the lower of the two lows. Which will always be below the bar that is previous to the bar that just closed.
4. From here, follow all rules above and all other rules put forth for the ATP.

I thought that we needed to be a little more selective with the TAMB trades and try to eliminate entering them during times of a "flag" formation, etc where they can eaisly cost us a lot of bagged pips. For that reason I have added some rules for this trade that I think will actually make it easier to trade.

Here are the General Rules:

1. I think that we should not have any more than 6 pending trades in any one direction. Of course you are welcome to place as many as you would like.
2. We will not place any TAMB trades until we have a NLRT Signal.
3. After we have a NLRT signalled, we will then place all TAMB trades (myself up to six) that fall above/below the high/low of the signal bar and the signal bar of the previous NL turning yellow.
4. Standard S/L and Exit Rules apply.
5. Any trades that don't trigger should remain pending until you get a new set of signals in either direction.

Here are the Basic Rules:

1. Normal S/L and Exit rules apply
2. This trade is place when ever the NL has gone to yellow
3. This trade will always be placed against the direction of the NL
4. I am choosing to only have 3 pending NLPT at one time in any one direction (6 total), but a different number might work better for you. If you get to a fourth, simple close out your earliest one and place the new one.
5. We place these trades on top of any other signals we get from any of our other trade strategies.

Turn Around Momentum Builder Trade - TAMB

TAMB Trade Update

Hello Everyone....

I thought that we needed to be a little more selective with the TAMB trades and try to eliminate entering them during times of a "flag" formation, etc where they can eaisly cost us a lot of bagged pips. For that reason I have added some rules for this trade that I think will actually make it easier to trade.

Here are the General Rules:

1. I think that we should not have any more than 6 pending trades in any one direction. Of course you are welcome to place as many as you would like.
2. We will not place any TAMB trades until we have a NLRT Signal.
3. After we have a NLRT signalled, we will then place all TAMB trades (myself up to six) that fall above/below the high/low of the signal bar and the signal bar of the previous NL turning yellow.
4. Standard S/L and Exit Rules apply.
5. Any trades that don't trigger should remain pending until you get a new set of signals in either direction.

AO Divergence Trade - AODT

Tonight I would like to introduce you to my AO Divergence Trade (AODT).

This will be one of the harder trades to spot on the chart mainly because the signals don't come very often. It is also one of the trades that we will take without any regard to trend direction. No matter what direction our current trades are going in, we will place this order based on the signal given through the indicator even if it against our current trading trend.

Here are the General Rules:

1. We will take this trade even if it indicates that we will be placing trades against the current trend
2. Normal Entry, Exit and S/L rules will apply.
3. For this trade strategy we will only be looking at the AO indicator and nothing else.
4. Sometimes you will get more than one signal in the same direction. You should feel free to place an order each time that you would get a signal.
5. If your first placed order does not trigger before you get a 2nd AODT in the same direction you will cancle the first and just play the 2nd.

Here are the rules for taking a Short Trade:

1. There must be at least one red bar that has closed below the 0 level of the AO indicator.
2. There must be at least one red bar in between any two green bars below the 0 level of the AO indicator.
3. First you will have a set of 1 or more consecutive red bars below the 0 Level of the AO. Then you will see a series of 1 or more green bars below the 0 level of the AO. Then the AO will switch back to red again all without crossing below the 0 level.
4. After the AO has gone from red to green and back to red you once again wait for the AO to close green and yet has stayed below the 0 level of the AO
5. After the 2nd formation of the green bar you look at the two previous sets of red bars. If the first set of red bars has a lower low than any bar in the second set you would place a long order once the AO has turned to green that second time.
6. After the 2nd formation of the green bar you look at the two previous sets of red bars. If the first set of red bars has a higher low than any bar in the second set you would not place any orders and you would wait for the bars to go red and back to green again before you looked for a AODT signal.

Here are the rules for taking a Long Trade:

1. There must be at least one green bar that has closed above the 0 level of the AO indicator.
2. There must be at least one green bar in between any two red bars above the 0 level of the AO indicator.
3. First you will have a set of 1 or more consecutive green bars above the 0 Level of the AO. Then you will see a series of 1 or more red bars above the 0 level of the AO. Then the AO will switch back to green again all without crossing below the 0 level.
4. After the AO has gone from green to red and back to green you once again wait for the AO to close red and yet has stayed above the 0 level of the AO
5. After the 2nd formation of the red bar you look at the two previous sets of green bars. If the first set of green bars has a higher high than any bar in the the second set you would place a short order once the AO has turned to red that second time.
6. After the 2nd formation of the red bar you look at the two previous sets of green bars. If the first set of green bars has a lower high than any bar in the the second set you would not place any orders and you would wait for the bars to go green and back to red again before you looked for a AODT signal.

AC Continuation Trade Strategy

Today I would like to introduce you to the AC Continuation Trade Strategy (ACCT).

This is a very simple technique that for the most part will only happen during a trending market which will allow you add on additional positions as the trend continues. If you look, you will see that this rarely happens in a ranging market and for the most part will occur when there is not a lot of volitility to the market.




Here are the General Rules:

1. AC must not cross below level 0 to consider a long ACCT
2. AC must not cross above level 0 to consider a short ACCT
3. Standard S/L and Exit rules apply.
4. For it to be a valid entry, AC must be the same color as AO which indicates we are entering this trade in the direction of the percieved trend
5. By discretion...if the AC has been hanging very close to 0 level for too long, possibly not best to take a trade.

Here are the specific Rules for a Long ACCT:

1. AC must be green and above 0 level
2. AC must have changed to red and then back to green again all while staying above the 0 level.
3. AO must also be green at the time the trade is taken
4. You would place your order standard as to our rules above the bar that closed with the AC in green

Here are the specific Rules for a Short ACCT:

1. AC must be red and below 0 level
2. AC must have changed to green and then back to red again all while staying above the 0 level.
3. AO must also be red at the time the trade is taken
4. You would place your order standard as to our rules above the bar that closed with the AC in red

5.Calculating Lot Sizes and other updates

Pivot Point Trading System

I would now like to introduce you to my Pivot Point Continuation Trades (PPCT). This has proven to have a win rate of about 60%, but that is really not the important part, what is important is that I think if fits in very nicely with ATP Trading.

Pivot Points to plot on your screen:

AU = Weekly Pivots
EU = Weekly Pivots
GU = Weekly Pivots
UCAD = Monthly Pivots
UCHF = Weekly Pivots
UJ = Monthly Pivots
GJ = Weekly Pivots
GCHF = Weekly Pivots
EG = Weekly Pivots
NU = Weekly Pivots
EJ = Weekly Pivots
ECHF = Monthly Pivots
EA = Weekly Pivots
ECAD = Weekly Pivots

All you need to do is use the indicator at the bottom of this post, adjust the settings according to each pair and load them to each chart pair. I do not use Sunday's data.

Then, what you need to do is replace all the lines that the indicator puts on the screen with yoru own vertical lines. I use different colors for the Pivot, S1,2,3 Points and R1,2,3 points. So you would have 3 different colors on your screen. Then after you have imported your own lines you can delete the indicator from your screen.

We do this because we don't want the Pivot Point Indicator giving us new pivot points every week or every month. We will only replace these lines if the price closes above R3 or below S3.

What to do Next:

Next, you will open up your spreadsheet and place the value that is attributed to each line in the specific place in the spreadsheet for each pair in the Pivot Poing Continuation Trade section. As I have it set up, all calculations will be done for you. All you need to do is to input the value for each line into the "Bright Yellow" boxes within this section.

After you input these values, all other values will automatically be calculated and then we can go to placing the trades that we can. You will notice that you will now have S/L targets, T/P targets and T/S targets. Make sure that when you place your trades that you input all these trades as you place your pending orders.

Placing your Trades:

As you can see from the chart above, the current price is between S1 and S2. This means that you can curretnly place long trades above S1, WP, R1 and R2 and short trades below S2. So, based on our current position we would be able to place 5 pending orders. Then as the market moves, we just will need to replace orders or add any new orders that we can when we can.

You could also place an order long above S2, but becuse our current price is so close to this point, I would recommmend that you wait for a later time to place this trade.

Hopefully this is clear on how to place this trade. As always I will be here to help you with any questions that you may have

This will take a little time for you to get your trades set up at the onset, but because you will not replace your lines until the prices has closed above R3 or below S3 your mainteneance here is really relatively small. Sometimes you will go months without readdressing all your orders because of a close above R3 or below S3. I also usually only replace lines on Sunday Night if these close features have appeared because that is when I have the extra time. If I need to change all lines in the middle of the week, I just wait until Sunday Night.
Updated Exit Strategy

Due to the advancements of the TAMB trades with ATP I am now able to revise the exit strategy used while trading ATP.

Before it was important that we stayed in the trade as long as possible because once out, we did not have many long-term trades that would help us enter again with the trend. With the advances in the ATP particularly in the TAMB trades, which are long term trades, it no longer has a long lasting effect if we get out early during the trend.

More importantly we will save many many many pips while the market is ranging. I feel that this is indeed a positive amendment to successful trading using ATP. You will see that these exit rules are less complicated and will be able to be easily recognized on your charts.

General Rules:

1. Trend is defined by using nothing but the NL indicator
2. You will never move you S/L farther away. Continue to use initial S/L points when you place your order and just move them accordingly as the trend continues.

2 Defined Exit Strategies:

1. Early Exit Strategy (EEXS): This exit strategy is signaled when there is a ST dot that is present at the close of a stick and the NL has closed in Yellow. This would also be our Early Trend Reversal Indication as described in an earlier post. Once this exit strategy has been signaled, you would then place your close orders 1 pip + spread above the high of the bar that just closed for short trades or at 1 pip below the low of the bar that just closed for long trades. These signals do not have to happen on the same bar, but both need to be present in order to be a valid signal. Usually they will happen within 2 bars of each other.
2. 2 Back Bar Exit (2BBE): This exit strategy is one that you would adjust everyday because everyday your Exit Position would indeed change. The 2BBE is just that. At the open of any new bar you would count back 2 bars and place your S/L above the high of that bar + spread + 1 pip if you are in a short trade or 1 pip below the low of that bar if you were in a long trade.
   1. 4 Exceptions to this Rule:
      1. 2BBEE1 - Let's say that you are in a long trend and today's bar closes in red (below the open of yesterday's bar). Per the 2BBE rules you would place your new S/L accordingly. However if the next day's bar also closes in red giving you 2 red bars in a row in a long trend then you would not adjust your S/L from the day before. What you are protecting yourself from here is too early of an exit during a slight retracement or Bearish Flag formation.

2BBEE2 - Let's say that you are in a short trend and today's bar closes in green (above the open of yesterday's bar). Per the 2BBE rules you would place your new S/L accordingly. However if the next day's bar also closes in red giving you 2 green bars in a row in a short trend then you would not adjust your S/L from the day before. What you are protecting yourself from here is too early of an exit during a slight retracement or Bullish Flag formation.
2BBEE3 - Let's say that you are in a long trend and today's bar has a lower low than yesterdays bar. In a case like this you would leave your current S/L as is.
· 2BBEE4 - Let's say that you are in a short trend and today's bar has a higher high than yesterday's bar. In a case like this you would leave your current S/L as is.

1. I do not have a current chart of this example and will try to post one when one becomes available. It will be the same concept as in a long trend above.

·Amendment to the TAMB Trading Series

·

·By design, the trigger of any TAMB trade would also coincide with the 2BBE Exit Solutions posted in thread # 596.

Because this is to be the case it is my thinking that based on the rules surrounding 2BBE, that if one of the 4 issues occurs (2BBEE1, 2BBEE@, 2BBEE#, or 2BBEE4) and you would not move any S/L positions for that day it should also stand to reason that no new TAMB trade would be issued for that day.

Of course you are welcome to use your own judgement on this matter as different situations might warrant you to place a pending trade, but it stands to reason that if you are not 100% committed to exit the market, why place an order against your current position.

We'll see how this one plays out.

·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.

Remember that this is just an additional exit rule. All others are still valid. We now have 4 different wasy to exit the market. I now feel that this part is complete. 1 of these 4 will save us a lot of pips during the exit. Whichever one hits first we will use...except that I usually don't use the Early Exit Strategy.


I also found it helpful to look over a daily review / observation posted by tman. It really clarified some things and I suggest that you go to the thread and look at several of his posts. Even though Damon often makes some corrections to his observations, he still has a pretty good understanding of what is going on. If you read his observations along with the corrections that Damon makes to them, you will get a very good idea on how to spot not one, but all of the various entry signals that pop up when using the many, many rules that we have to consider:
Example:

Thank you again Damon for patiently reviewing my homework, and TF and everyone for following along and keeping an eye out for any mistakes. I think we're all getting better at analysing. I think the current discussions about improving the exit strategies couldn't come at a better time, as we're witnessing some tight ranging market right now. While the open-trades balance is always running positive and can get up over $100 - $200 , I'm seeing lots of trades stopping out mostly in negative pips, and the winning trades are hitting the trailing stops (2BBE) frequently with only a small gain. So it would be interesting to see how the application of indicators e.g. stochastics, CCI etc. can alleviate some of this dilemma. But I must say $500 account shrinkage after trading in a difficult market for the past week or so is not too bad

AUD/USD
.35

Add: 8
Observations

1. UT continues

Actions
1. Move SL for all open long trades to low of 4/04 bar
2. Place DPTT long trade


EUR/AUD
.35

Add:11
Observations
1. DT continues

Actions

1. Move SL for all open short trades to the high of 4/04 bar
2. Place DPTT short trade

EUR/CAD
.35

Add: 11
Observations
1. Yellow NL turning up + green ST = NLRT

Actions

1. Cancel all pending short trades
2. Move SL for all open short trades to the high of 4/07 bar
3. Place NLRT (EES1) long trade
4. Place TAMB long trades on 4/1 and 4/2 bars
5. Place NLPT short trade

EUR/CHF
.35

Add: 7
Observations

1. UT continues

Actions

1. Move SL for all open long trades, if any, to the low of 4/04 bar
2. Place DPTT long trade

EUR/GBP
.25

Add: 6
Observations
1. Yellow NL turning up BUT most recent ST was red = not an NLCT

Actions

1. Cancel all pending short trades based on change in NL, including TAMB shorts? Leave TAMB shorts incase of a NLCT. I think we should only cancel these trades when we replace them with TAMB long trades
2. Move SL for all open short trades to high of 4/07 bar (to close them out) No...you would still play your 2BBE Exit here because no confirming ST dot.
3. Place NLPT short trade
4. Wait until NLPT placed on 4/01 to trigger before placing any more long trades

EUR/JPY
.25

Add: 7
Observations

1. UT continues
2. ACCT continuation

Actions

1. Move SL for all open long trades to the low of 4/04 bar
2. Place ACCT long trade
3. Place DPTT long trade

EUR/USD
.35

Add: 5
Observations

1. UT continues – previous NLPT long trade not triggered

Actions

1. Do not move SL for open long trades since current bar has lower low.
2. No more long trades until NLPT long placed on 3/31 bar is triggered

GBP/CHF
.15

Add: 12
Observations

1. UT continues

Actions

1. Move SL for all open long trades to the low of 4/04 bar
2. Place DPTT long trade

GBP/JPY
.15

Add: 12
Observations

1. UT continues

Actions

1. Move SL for all open long trades to the low of 4/04 bar
2. Place DPTT long trade

GBP/USD
.35

Add: 7
Observations

1. Yellow NL turning down NOT agreeing with most recent ST (green) = not NLCT

Actions

1. Cancel all pending long trades based on change in NL, including TAMB long?Keep all TAMB long trades as above description
2. Move SL for all open long trades to low of 4/07 bar (to close them out)
3. Place NLPT long trade

NZD/USD
.35

Add: 8
Observations

1. UT continues – NLRT (EES1) long trade triggered

Actions

1. Place DPTT long trade

USD/CAD
.35

8
Observations

1. Yellow NL turning up + green ST = NLRT

Actions

1. Cancel all pending short trades including TAMB shorts
2. Move SL for all open short trades to the high of 4/07 bar. I was out many pips ago using the stochastic exit.
3. Place NLRT (EES1) long trade
4. Place TAMB long trades on 4/02 and 4/03 bars
5. Place NLPT short trade

USD/CHF
.35

7
Observations

1. Yellow NL turning back up – not NLCT

Actions

1. Cancel all pending short trades based on change in NL, including TAMB shorts?
2. Move SL for any open short positions to the low of 4/04 bar
3. Place NLPT short trade

USD/JPY
.35

5
Observations

1. Yellow NL turning back up – not NLCT

Actions

1. Cancel all pending short trades based on change in NL, including TAMB shorts? Leave TAMB trades here as per instructions above.
2. Move SL for any open short positions to the low of 4/04 bar
3. Place NLPT short trade

Hey TM...It has indeed been a difficult market this past week. My guess is that it may continue for the short term, but not to worry, when it is done you will at least double what ever you lost during this market is my guess

Great job tonight again. I think you are really getting the hang of it.

I am out as it is very late. See you all tomorrow night
__________________
Hey!!!! Check me out

#725
Today 9:21pm


damonl
NSYNCPIP

Member Since Oct 2007
Posts: 1,005
One thing I forgot TM.....

Regarding EU tonight. Because yesterday our NLPT triggered, we would also be placing our short orders as well as our long orders tonight,

See you all tomorrow...my bed is calling me

Ok, that’s all for now… hope that will help
bcam…

I think that you are doing just fine. No need to second guess yourself here

You can either just place trades as normal or you can place trades as normal and just leave your first trade that you open per pair as a long term trade and close it out only on a Exit signal.

That is about all that you can do in a case like this.

And ditto TF....Hurry back

Super...here is the non-repainting version from Chandra.

It appears that you just need to change option=0 and it will no longer repaint.

Maybe SwingMan can check that out when he comes around again.

Attached File(s)

SolarWind-ACS2.mq4   4 KB | 323 downloads

If this actually does not repaint, I see a very easy way to trade in the future using this indicator with out all the rules and all the time spent each nigt.

SwingMan...if you are around, if you can make sure that this does not repaint yet gives us the same signals as the original after it has repainted, that would be super duper

Ultimately this is for sure our goal.

The problem was that the original exit rules were somewhat lagging and we lost a lot of compounded pips very quickly. Indeed closing in profit was the best option.

This has been minimized to a certain extent now that we are using the stochastics for exiting the market. These are many times a little quicker in getting us out of the market.

However, the problem still remains that we are exiting during retracements and actually in many cases taking trades in the direction of these retracements. This is our downfall. Really, we should know that they are retracements and not close out our trend trades and also not place orders with these retracements, but rather against them so after the retracement is over we will be in hog heaven at the continuation of the trend.

So far I have not been able to find an indicator that will do this.

With that said I have been looking and just this weekend came across the "Solar Wind" indicator. If we can have a non-repainting version I think that this will elimanate many things including improper exiting and a vast array of rules that is hard to follow and visualize.

Time will tell, but if this indicator can give us the same results as the repainting one does without repainting, we will be golden and eliminate 75% of the current work we are doing with ATP.

Here's to hoping it can be done

Yes wlj...there are a lot of rules.

I wish there was an easier way, but until we find it, these rules are what is keeping us in the game.

Hang in there...I am working at it

Thanks for taking the time to bring all that stuff to a current post again.

Soon I am hoping to put out a .pdf, but I think I will wait and see what added benefits if any the "Solar Winds" indicator brings to us.

Hopefully only lots more pips

Hi Damon

I don't know if this indicator is the answer to any of your problems, but at a glance it seems to me that it does a very good job at keeping minor retracements at bay. I was comparing many indicators over the weekend and discovered that this indicator essentially mirrors William 'Alligator' indicator - it just does it in a different format. If you compare the two side by side, I am sure you will find them to be very close. I know you are a Willams Fan so I feel this indicator is a natural for your style. Great work to date with the ATP system. Even though I am unable to trade it because of time restrictions I have a great interest in the method and try to keep up with the thread on a regular basis.




I have now looked at this indicator side by side with the RSI 14 you are using and have noticed that the two are very, very close as well. Perhaps close enough to be redundant. Although this indicator doesn't dive or reach for the 50 level quite as quickly. Its looks as though one or the other will do about the same thing.

I will try...

Thanks Damon for the comments and the extra info. I learn something new every day here

I now suspect that I am entering many of my trades during retracement. Can you clarify this for me?

Right now I have 3 open short trades for EurJpy. They where all set on the close of last Thursday's bar. I got an NLRT (EES 1) and a TRT (EES 2) signal at the same time. I therefore decided to create 2 pending orders for early entry trades. I am not sure if the rules would agree with this decision but I would like to know your opinion.

I also had a TAMB set on the 04 / 02 bar. They all triggered today. Unfortunately, they are all in the negative now

All the signals seem to clearly be there, but it seems that I am still unable to make a good profit and keep it. I am pretty sure that my main problem is that I am missing out on some of my trades and I also have been know to enter late with an instant execution order. I know, I know... shame on me . But I have been busy with lots of things lately and also I am still learning the methods for the ATP system. I will tighten up on myself to make sure that I don't continue to make clumsy mistakes.

The good news is that even though I lost a relatively large sum of money on my 1st set of trades, I was still able to make it back and go back into a relatively reasonable amount of profit. And even though I lost this profit when I didn't close out all trades at 10%, I only ended up with a small loss. That is why I know that this system really can work. Even with my poor execution, I only took a small loss even during what seemed to be a bad week for many others. In a good week I might still have made a small profit using ATP!!!

Another likely reason for my trouble is that I need to update my indicators. I downloaded many that are posted throughout this thread. However, I am still using the ones that you originally gave. Come to think of it, can you list the current/most recently updated indicators that we should be using? I have about a dozen saved on my PC but don't know which is which or what is what so I don't know which one I should load up.

Sorry to ask so many questions in such a small space. I look forward to continuing on this course I have taken and learning more and more along the way.

bcam

Hey Bcam, since Damonl doesn't mind, take up all the room ya want...there's plenty!
Recaps like that help me hugely!

Great looking forward to your pdf Damonl and whenever you get around to it is plenty soon enough considering all your sharing and developments.

Hey bcam,

I haven´t looked at the chart, as I haven´t traded the system the last 2 weeks and I don´t know, if you read the signals correctly, but I assume so.

There is only one mistake I could figure out - You placed both the EES1 and EES2 at the same bar, as you got a signal for both. In my understanding you would just place one trade as these are the long term trades and the riskier ones, as you bet on a trend reversal, so you don´t want to open too many positions, if the trend doesn´t reverse but continues.

So you just would have opened 2 positions, maybe even cancelled the TAMB, due to the risk mentioned before.

In the end you gotta do, what you feel comfortable with.

Cheers
DaBuschi