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ATP (Advanced Trading Philosophy) - The Evolution to Greatness

  • #41
  • Apr 17, 2008 3:31am Apr 17, 2008 3:31am
Quoting damonl
Hey wlj and others following along. There is more money with this trading style than I have every experienced. For now I only want to give signals, but I will help you all work through the rules.

Tip #1 - Use the two seperate Solar Wind Indicators as posted earlier
Tip #2 - Get rid of the levels of .3, -.3 for the first one.
Tip #3 - Don't worry about the Monthly and Weekly trends at the moment. Just focus on the daily charts.

Here are the questions I would like you to answer.

1. When should we make our first entry into the market? (Use 1st indicator only)

2. When should we place additional positions? (Use 1st indicator only)

3. When should we not place any additional orders and cancel all pending orders? (Use 2nd indicator only)

4. When should we resume placing daily orders in the direction we were headed? (Use 1st indicator only)

5. When should we get out of the market? (Use 1st indicator only)

When you can answer all 5 of these questions, I think that you will have the best and most profitable system ever seen.

Good luck and post your answers and your thoughts here so I can help you with them.
base on Q no .5, didnt we suppose to get out using in the 2nd indicator?
Im sorry for asking.. Im just a bit confusing
Novice Trader
  • #42
  • Edited 3:53am Apr 17, 2008 3:43am | Edited 3:53am
My first Attempt..
Quoting damonl
Hey wlj and others following along. There is more money with this trading style than I have every experienced. For now I only want to give signals, but I will help you all work through the rules.

Tip #1 - Use the two seperate Solar Wind Indicators as posted earlier
Tip #2 - Get rid of the levels of .3, -.3 for the first one.
Tip #3 - Don't worry about the Monthly and Weekly trends at the moment. Just focus on the daily charts.

Here are the questions I would like you to answer.

1. When should we make our first entry into the market? (Use 1st indicator only)

Enter Long at close of the first Green Bar. Enter Short at close of the First Red Bar (I am looking back at the charts and we can enter Long Trades if the 2nd Bar is higher than the first (vice-versa for short) but some times we miss very nice moves. Your advise!)

2. When should we place additional positions? (Use 1st indicator only)
Place additional trades on EACH ascending Bar(long) or on EACH descending Bar(short).

3. When should we not place any additional orders and cancel all pending orders? (Use 2nd indicator only)-

When the BAR closes below Level 6 for Long, Above Level-6 for Short.

4. When should we resume placing daily orders in the direction we were headed? (Use 1st indicator only).

LONG Trades at the Close of the Previous bar=> If a Previous Bar (not current) is Higher than the Earlier Bar in the Original direction (Highest High)

SHORT Trades at the Close of the Previous bar=> If a Previous Bar (not current) is Lower than the Earlier Bar in the Original direction(Lowest Low)

(Also, If the Bar closes outside 6,-6 levels again and resumes original direction then we place additional positions in the continued direction)

5. When should we get out of the market? (Use 1st indicator only). When you see the BAR appear with Opposite color.

Get out of Long Trades at the close of first RED color Bar (This may be a signal to enter Short trades)

Get out of Short Trades at the close of first GREEN color Bar (This may be a signal to enter Long Trades).

When you can answer all 5 of these questions, I think that you will have the best and most profitable system ever seen.

Good luck and post your answers and your thoughts here so I can help you with them.
  • #43
  • Apr 17, 2008 6:05am Apr 17, 2008 6:05am
Quoting rishi
My first Attempt..
Please see my notes below in blue. Great job, but you didn't get all the questions right

Get the last answer correct and you will win a spreadsheet that will help you keep track of your trades

Originally Posted by damonl http://www.forexfactory.com/images/buttons/viewpost.gif
Hey wlj and others following along. There is more money with this trading style than I have every experienced. For now I only want to give signals, but I will help you all work through the rules.

Tip #1 - Use the two seperate Solar Wind Indicators as posted earlier
Tip #2 - Get rid of the levels of .3, -.3 for the first one.
Tip #3 - Don't worry about the Monthly and Weekly trends at the moment. Just focus on the daily charts.

Here are the questions I would like you to answer.

1. When should we make our first entry into the market? (Use 1st indicator only)

Enter Long at close of the first Green Bar. Enter Short at close of the First Red Bar (I am looking back at the charts and we can enter Long Trades if the 2nd Bar is higher than the first (vice-versa for short) but some times we miss very nice moves. Your advise!) Correct


2. When should we place additional positions? (Use 1st indicator only)
Place additional trades on EACH ascending Bar(long) or on EACH descending Bar(short). I think you can earn more pips than this:surprised

3. When should we not place any additional orders and cancel all pending orders? (Use 2nd indicator only)-

When the BAR closes below Level 6 for Long, Above Level-6 for Short. Correct

4. When should we resume placing daily orders in the direction we were headed? (Use 1st indicator only).

LONG Trades at the Close of the Previous bar=> If a Previous Bar (not current) is Higher than the Earlier Bar in the Original direction (Highest High) Higher High....does not need to be highest high. Correct

SHORT Trades at the Close of the Previous bar=> If a Previous Bar (not current) is Lower than the Earlier Bar in the Original direction(Lowest Low) Lower Low...does not need to be lowest low. Correct

(Also, If the Bar closes outside 6,-6 levels again and resumes original direction then we place additional positions in the continued direction) Just look at the first indicator for this unless you only have one, then this would obvously be correct as well

5. When should we get out of the market? (Use 1st indicator only). When you see the BAR appear with Opposite color.

Get out of Long Trades at the close of first RED color Bar (This may be a signal to enter Short trades)

Get out of Short Trades at the close of first GREEN color Bar (This may be a signal to enter Long Trades).

When you can answer all 5 of these questions, I think that you will have the best and most profitable system ever seen.

Good luck and post your answers and your thoughts here so I can help you with them.
"Keep your eyes on the helpers" - Mr. Rogers
  • #44
  • Apr 17, 2008 6:13am Apr 17, 2008 6:13am
What happens when you are in a Long or Short Trade and the SWI bar does not ever penetrate the .6, -.6 levels (another words it stays between these two level lines). How will you know that you are not supposed to take any additional trades and cancel all pending orders?
"Keep your eyes on the helpers" - Mr. Rogers
  • #45
  • Edited 7:43am Apr 17, 2008 6:34am | Edited 7:43am
I also knew it was a good system and profitable. I understand your basic rules about the settings for the 1st SWI to filter trades but apart from that, it is a highly profitable system with less whipsaw.

As for your questions, here are the answers.

1. When should we make our first entry into the market? (Use 1st indicator only)

When the colour of the indicator changes from Red to Lime on SWI 1 which means it has crossed from negative to positive. This indicates an uptrend or when the colour changes from Lime to Red which means it has crossed from positive to negative. Take trade in downtrend position.

Now, answering your exact question, the first entry into the market should be made at the close of the confirmation candle signaling the change in trend i.e. we would have to wait until the first candle that changes colour closes before placing trade.

I noticed that the trend changes on a candle before the change in colour i.e. uptrend would start from the last candle formed by the SWI before changing to green and same way for downtrend. Although it is not in all cases but check your chart and you would see the same thing.

2. When should we place additional positions? (Use 1st indicator only)

Additional Positions should be placed if the SWI histogram is uniform and trending i.e. the histogram is getting bigger and thus the value of the SWI is increasing par candle

3. When should we not place any additional orders and cancel all pending orders? (Use 2nd indicator only)

The moment we start having decrement in SWI value if in uptrend or if we start having increment in it's value if in downtrend, then it is not good to place any further trade in the trend direction until it normalizes again.

Answering your question exactly, no additional order(s) should be placed once the SWI candle is between .6 and -.6 i.e. if it is below .6 then no pending long trades should be place and if above -.6 then no pending short trades should be placed.

I believe all pending order should only be cancelled at the change of the colour of the SWI because I have seen cases on USDJPY which I have studied only where the market only retraces for a while then continues in it's normal direction.

4. When should we resume placing daily orders in the direction we were headed? (Use 1st indicator only)

Use NonLag for confirmation and watch our for higher high and lower lows.

The day after the confirmation of the change in trend in the case of entire change in trend i.e. similar to question 1. They look same to me.

5. When should we get out of the market? (Use 1st indicator only)

Get out at SWI = 0 or changes colour from when you entered the trade to another colour i.e. either from Lime to Red or Red to Lime

Question #6

What happens when you are in a Long or Short Trade and the SWI bar does not ever penetrate the .6, -.6 levels (another words it stays between these two level lines). How will you know that you are not supposed to take any additional trades and cancel all pending orders?

Stop placing Short Trade when the SWI starts turning back towards .6 i.e. the value is increasing. For Long Trade the SWI value should be turning back towards -.6. I believe we should cancel all pending orders only if trend has changed i.e. change in SWI colour.

What I have specified above is considering the fact that the market could continue in the direction it is coming from after consolidating between -.6 and .6. I hope you understand?


In my own opinion, I would advise that the 2nd SWI should be eliminated according to your question above and mark level of .6 and -.6 on the only SWI.

I would also want you to check the responsiveness of the NonLag indicator too.

Let me give a brief details here so you can check and if permitted, maybe I can do some little homework and then paste it here for you to just check and if normal then approve.

We are day trading and we have two options of trading... we can either trade only in the market direction or trade the countertrend too.

I noticed while going back through the charts of the 14 major currency pairs that there are cases when you have various different candles counter trending the trend i.e. if in uptrend, you can see some candles counter trending. If you check your USDJPY chart for 22.10.2007 - 31.10.2007, you would notice that it was an uptrend for 8 consecutive trading days while the major trend is a downtrend. If you still keep all your positions open according to Damonl, no single trade will be closed by hitting stop loss but we would be idle on days like this. So, I considered countertrend too.

If in a downtrend and the SWI is making way back to 0, if your NonLag indicator changes colour to yellow or blue then you can take the advantage of slight uptrend in the countertrend. Same thing applies to uptrend.

Damonl, what I noticed again about the SWI is that if the indicator is confirming an uptrend and you are having candlesticks confirming downtrend then they won't continue for long i.e. it cannot effect a change of trend. For a change of trend to occur, there must be crossing of the SWI through 0.

I think this is some kind of junk... I will try to explain everything I mean here better during my next post.


[quote=damonl;1955664]Hey wlj and others following along. There is more money with this trading style than I have every experienced. For now I only want to give signals, but I will help you all work through the rules.

Tip #1 - Use the two seperate Solar Wind Indicators as posted earlier
Tip #2 - Get rid of the levels of .3, -.3 for the first one.
Tip #3 - Don't worry about the Monthly and Weekly trends at the moment. Just focus on the daily charts.

Here are the questions I would like you to answer.

1. When should we make our first entry into the market? (Use 1st indicator only)

2. When should we place additional positions? (Use 1st indicator only)

3. When should we not place any additional orders and cancel all pending orders? (Use 2nd indicator only)

4. When should we resume placing daily orders in the direction we were headed? (Use 1st indicator only)

5. When should we get out of the market? (Use 1st indicator only)

When you%2
Trading Just Got Easier...
  • #46
  • Apr 17, 2008 10:22am Apr 17, 2008 10:22am
Another suggestion is this, you should modify your SWI setting. Change the soundalert to true then you can always see a pop up window each time the SWI crosses over or below 0.0

Happy Pipping and Greener Pipping
Trading Just Got Easier...
  • #47
  • Apr 17, 2008 10:57am Apr 17, 2008 10:57am
Quoting damonl
5. When should we get out of the market? (Use 1st indicator only)
I have always favored active learning so I am attempting to answer this question. I don't know how to put it in words so I attach a sample chart to illustrate my deduction:

At the close of candle A, we open a short trade. We continue to leave the trade from candle B to C to D and at the close of E, the SWI value is less than the previous candle (i.e. candle D) and hence this is where we would close the trade and take the profit. In short, when the current SWI value closes lower than the previous bar's SWI value, we should close the existing trade to maximize profit taking. If we wait for the SWI to change color to get out, we would lose some good pips.

However, if you look at candle 1 to 5 where we would enter a long trade at candle 2 and take profit at the close of candle 5 (using my deduction), we can see that after a few bars, the trend continue to rise which indicates a possible re-entry using the rules as suggested by walesoje1 and rishi.

I know that SWI is a repainting indicator but it looks incredibly valid at this point. Anyhow, would there be a possible long setup for GJ at the close of the present bar following damonl's Question 1? I shall test and see!
Attached Image (click to enlarge)
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  • #48
  • Edited 11:38am Apr 17, 2008 11:32am | Edited 11:38am
burt625,

You were right with your observation but the proper exit point should be where the SWI changes colour. You will definitely be stopped out of the trade with your stop loss been hit.

If you check some of the posts by Damonl, he mentioned exiting once you see a reverse candle but he has modified it. I believe this is the best exit strategy.

If you backtest you would still see some movements like this but what you should know is there's no 100% profitable system. In this case, you will be profitable but you might only loose back part of your profit.

These are only observations really.

You can stick to the rules of exit by watching out for .6 and -.6.

Quoting burt625
I have always favored active learning so I am attempting to answer this question. I don't know how to put it in words so I attach a sample chart to illustrate my deduction:

At the close of candle A, we open a short trade. We continue to leave the trade from candle B to C to D and at the close of E, the SWI value is less than the previous candle (i.e. candle D) and hence this is where we would close the trade and take the profit. In short, when the current SWI value closes lower than the previous bar's SWI value, we should close the existing trade to maximize profit taking. If we wait for the SWI to change color to get out, we would lose some good pips.

However, if you look at candle 1 to 5 where we would enter a long trade at candle 2 and take profit at the close of candle 5 (using my deduction), we can see that after a few bars, the trend continue to rise which indicates a possible re-entry using the rules as suggested by walesoje1 and rishi.

I know that SWI is a repainting indicator but it looks incredibly valid at this point. Anyhow, would there be a possible long setup for GJ at the close of the present bar following damonl's Question 1? I shall test and see!
Trading Just Got Easier...
  • #49
  • Apr 17, 2008 1:21pm Apr 17, 2008 1:21pm
Damonl,

What colour would you give to a situation when only the Monthly and Daily decipher agree?

What we have is all the same... Green

Monthly and Weekly disagree with Daily... Orange

Monthly disagrees with Weekly and Daily... Yellow

What happens when Monthly disagree with Weekly but agrees with Daily?
Trading Just Got Easier...
  • #50
  • Edited 6:39pm Apr 17, 2008 6:24pm | Edited 6:39pm
Quoting burt625
I have always favored active learning so I am attempting to answer this question. I don't know how to put it in words so I attach a sample chart to illustrate my deduction:

At the close of candle A, we open a short trade. We continue to leave the trade from candle B to C to D and at the close of E, the SWI value is less than the previous candle (i.e. candle D) and hence this is where we would close the trade and take the profit. In short, when the current SWI value closes lower than the previous bar's SWI value, we should close the existing trade to maximize profit taking. If we wait for the SWI to change color to get out, we would lose some good pips.

However, if you look at candle 1 to 5 where we would enter a long trade at candle 2 and take profit at the close of candle 5 (using my deduction), we can see that after a few bars, the trend continue to rise which indicates a possible re-entry using the rules as suggested by walesoje1 and rishi.

I know that SWI is a repainting indicator but it looks incredibly valid at this point. Anyhow, would there be a possible long setup for GJ at the close of the present bar following damonl's Question 1? I shall test and see!
This is a good attempt. Thank you for that. A few things the occurred to me though is that you would be leaving the market too early and also not gaining enough pips with the trend.

Using your chart above with the numbers, I will go through how I see the trade here happenening.

#1 - Here you would have placed your 1st long entry into the market
#2 - Here you would have placed your 2nd long entry into the market
#3 - Here you would have placed your 3rd long entry into the market
#4 - Here you would have placed your 4th long entry into the market
#5 - Here you would have cancelled any long pending orders
#6 - Nothing here
#7 - Here you would have placed your 5th long entry into the market
#8- Here you would have placed your 6th long entry into the market
#9 - Here you would have placed your 7th long entry into the market
#10- Here you would have placed your 8th long entry into the market
#11- Here you would have placed your 9th long entry into the market
#12- Here you would have cancelled all long pending orders
#13- Nothing
#14 - Nothing, but because the bar is so close to zero level you may have closed
#15 - Here you would have definitely closed your position.

It is possible that you would have also place some Turn Around Momentum Builder trades when the trend re-established at candlestick #7, by placing additional trades above by placing additional trades above #5 and #6 at the same time you placed the order for #7.

One thing that I have noticed about trading GJ is that because it has such large movements, many times you will give back many of your profits and even go into loses waiting for the bar to change color to exit, as is the case in the 2nd part of your trade above starting with the Letter A. You may want to use the original exit strtegy for this pair which would be to exit when the SWI dropped back in between the .6, -.6 levels. I think you will be pips ahead if you were to do this.

Hope this has been helpful
"Keep your eyes on the helpers" - Mr. Rogers
  • #51
  • Apr 17, 2008 6:41pm Apr 17, 2008 6:41pm
Quoting walesoje1
Damonl,

What colour would you give to a situation when only the Monthly and Daily decipher agree?

What we have is all the same... Green

Monthly and Weekly disagree with Daily... Orange

Monthly disagrees with Weekly and Daily... Yellow

What happens when Monthly disagree with Weekly but agrees with Daily?
I don't know. Perhaps we could also treat this as an orange trade, but I am okay with only 3 Deciphers
"Keep your eyes on the helpers" - Mr. Rogers
  • #52
  • Apr 17, 2008 6:51pm Apr 17, 2008 6:51pm
Quoting walesoje1
You were right with your observation but the proper exit point should be where the SWI changes colour. You will definitely be stopped out of the trade with your stop loss been hit.

If you check some of the posts by Damonl, he mentioned exiting once you see a reverse candle but he has modified it. I believe this is the best exit strategy.

If you backtest you would still see some movements like this but what you should know is there's no 100% profitable system. In this case, you will be profitable but you might only loose back part of your profit.

These are only observations really.

You can stick to the rules of exit by watching out for .6 and -.6.
Thanks walesoje1 for your reply! After going through several charts, I realized that my method of exit would not be as profitable as I thought it would be whereas using the rule from indicator 2 (0.6 and -0.6 levels) seems to fare better. However there are cases where the bars lie in between 0.6 and -0.6 levels so using SWI color change as an exit point would be ideal.

However, I still have a query with the entry trade. Last night (or rather approximately 7.5 hours ago) I wrote in my earlier post that I would be waiting for the close of the first green candle to enter a long trade but now, it would seem that the SWI has changed the color of the previous bar which originally wasn't a lime bar, suggesting that I should have entered at the close of the previous bar which is the present bar. I know it does sound confusing but I hope someone can enlight me on this.
Attached Image(s) (click to enlarge)
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  • #53
  • Apr 17, 2008 7:29pm Apr 17, 2008 7:29pm
I damonl, I am just starting to get into trading this system. From the looks of history(I know indicator repaints itself), it does look very promising. You had mentioned it's doing fairly well. I so I will be following thread very intently, glad I got into it early, it was gonna take me forver to go through the original ATP thread, but I was willing, but since this thread seems to have promise, I'll be dedicating a lot of time. I am trading Interbank FX on demo at the moment. The basic premise of longs/shorts, is to buy @ close of first change of color bar. Today I see that GU has closed its first green bar, and I am assumming an uptrend has occured and a long position needs to be in effect?

I am a little confused on the exit strategy, but I'll see which methods work, and go through what you have suggested.

TheLegace
Good Luck
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #54
  • Edited 9:22pm Apr 17, 2008 7:30pm | Edited 9:22pm
Here are the actions I will be taking tonight...Please trade these on a live account at your own risk

GU - Long @ 1.9928 Risk Yellow - Revoked...no trade here tonight - this might be alright after all...just don' t like the looks of it. Indicators say in... I guess the reason I am not sure here is because I am thinking of incourpaorating the Non-lag...and if I add this indicator the trade says no.

UCAD - Close trade from yesterday for a small loss This losing trade also would have said no according to the NL filter

UCHF - Close pending short trade that did not trigger from yesterday
UCHF - Long @ 1.0097 Risk Yellow

UJ - Long @ 102.75 Risk Yellow

GJ - Long @204.49 Risk Yellow Also this trade says no with the Non-lag


GCHF - Close pending trade that did not trigger from yesterday

GCHF - Long @ 2.0079 Risk Yellow This trade also says no with the Non-Lag

Okay...that is all the trades for tonight. I think that all the trades listed above with red behind them regarding the Non-Lag we should not take tonight.

This system is getting better by the day.

I will give you the update in the next post


More to come.....
"Keep your eyes on the helpers" - Mr. Rogers
  • #55
  • Apr 17, 2008 9:23pm Apr 17, 2008 9:23pm
Quoting TheLegace
I damonl, I am just starting to get into trading this system. From the looks of history(I know indicator repaints itself), it does look very promising. You had mentioned it's doing fairly well. I so I will be following thread very intently, glad I got into it early, it was gonna take me forver to go through the original ATP thread, but I was willing, but since this thread seems to have promise, I'll be dedicating a lot of time. I am trading Interbank FX on demo at the moment. The basic premise of longs/shorts, is to buy @ close of first change of color bar. Today I see that GU has closed its first green bar, and I am assumming an uptrend has occured and a long position needs to be in effect?

I am a little confused on the exit strategy, but I'll see which methods work, and go through what you have suggested.

TheLegace
Good Luck
Hey TL.....yes, but this is still kind of a work in progress.

Please continue to follow along as it is getting better everyday
"Keep your eyes on the helpers" - Mr. Rogers
  • #56
  • Edited 10:32pm Apr 17, 2008 9:32pm | Edited 10:32pm
Hello everybody.....

Man I love this Solar Winds Indicator (SWI)

You now have the basic premise. Here is what they are again as a refresher.

1. Enter only Long positions when SWI is Green
2. Enter only Short Positions when SWI is Red
3. Use regular lot sizes when the 3rd decipher is running solo.
3. Double your lot size when the 2nd and 3rd decipher agree.
4. Triple your lot size when the 1st, 2nd and 3rd Decipher agree.
5. Set your S/L orders on the 1st candlestick the coincides with the bar of the SWI that falls below .6 level or above 0.6 level

Major Update #1

So far, these are the rules that we have. The problem is that they have a tnedency to whipsaw and so we need a constant that keeps the SWI honest. This constant is the Non-Lag Indicator (NLI). Here is the indicator and all the settings are already default.

Attached File(s)
File Type: mq4 Damon smNonLagMA_v1.mq4   7 KB | 414 downloads


Using the NLI

Please remember that the SWI indicator repaints itself and so you have to becareful as it will try to trick you.

Entering the market

We will only enter the market if the NLI confirms the direction of the SWI. Confirmation will happen in 1 of two ways....

First, the NLI will give its signal after the SWI has switched colors. If the NLI comes first before the color change of the SWI this would not be a valid trade. One note is that many times the NL will come first, and then the SWI will repaint and actually repaint enough bars that it will now appear in hindsight that the SWI changed first even so it didn't. This is still a valid trade because in Hindsight the SWI looks like it changed first and even if you can't enter right at the NLI siganl, you would enter as soon as this repainting were to happen.

Second, the NLI will give you it's signal at the same time that the SWI has also given you a direction change. This is a valid signal. One note is that many times the NL will come first, and then the SWI will repaint and actually repaint enough bars that it will now appear in hindsight that the SWI and the NL changed on the same bar even so they didn't. As opposed to above, this is not a valid signal. Once again, if the NLI has siganlled first and 2 bars later the SWI repaints and makes it appear that the SWI and the NL gave signals at the same time, this is not a valid signal. As above if this happens and the SWI repaointing makes it look in hindsight that the SWI did indeed change before the NLI signal, this would be a valid signal.

Hopefully everyone is following along. As always I will be here to answer questions.

Major Update #2

In the past we have entered trades as the trend continued. It will be that same here, but we will only have a few types of trades. This will help keep the trading easier with less time spend each night behind your computer. They include the following.

1. Non-Lag Trend Trades (NLTT)
2. Trend Builder Acceleration Trades (TBAT)
3. Momentum Builder Continuation Trades (MBCT)

For now we should just focus on the NLTT as I need some more work with SWI before recommending any other types of trades.

Major Update #3

This update regards Money Management. In the past we have traded with relatively small lot sizes. This had to do a lot with the fact that some things were not as cut and dry as they are now. Based upon my watching how the SWI repaints itself, I believe that with these new rules we are in for extremely profitable trading with a phenominal W/L ratio with our loses being considerable less then are wins and our wins more than outnumberin our losses by a long shot.

For that reason, here is just a recommendation for the new rules.

For a 10K account you should risk the following on a mini account

1 lot for any Risk Yellow Trades
2 lots for any Risk Orange Trades
3 lots for any RisK Green Trades

Also I am looking a doubling the lot size if you are placing an NLTT that is a contuation of a trade that you placed earlier and then any 3rd one woul just revert back to the original Lot size. I will experiement with this as I get me into it

then you will need to calulate risk as per volitility per pair. This will be a feature on the spreadsheet that is in the works as we speak

Once again, these are just guidlines and you should trade how you feel comfortable. On a demo however, this would be a great way to start.

That is all folks. Starting next week I will give signals based on these rules and will try to update you on the different types of trades.

Have a great night and Happy Pippin'
"Keep your eyes on the helpers" - Mr. Rogers
  • #57
  • Apr 17, 2008 10:01pm Apr 17, 2008 10:01pm
Bummer...

I didn't see the trade repeal until after I placed my trade. When I saw the post I immediately cancelled the 3 trades for today resulting in a loss of 21 pips.

Not to worry tho...I am convinced the Evolution to Greatness is just a matter of a few posts away!

Thanks Damoni for sharing your trading system with us!

Bob in Wisconsin
  • #58
  • Apr 17, 2008 11:50pm Apr 17, 2008 11:50pm
Quoting Bobcat2
Bummer...

I didn't see the trade repeal until after I placed my trade. When I saw the post I immediately cancelled the 3 trades for today resulting in a loss of 21 pips.

Not to worry tho...I am convinced the Evolution to Greatness is just a matter of a few posts away!

Thanks Damoni for sharing your trading system with us!

Bob in Wisconsin
Hey Bob.....

How come you lost pips? Our trades are not placed at market orders, but instead are Buy/Stop and Sell/Stop pending orders. At first glance, none of those trades would have been triggered.

Not to worry though, I will get you those 21 pips back.

Here is two Pending orders you can place/

EU- Buy/Stop at 1.5981
AU - Buy/Stop at .9405

These trades are based on the rules with the NLI.

Buy/Stop and Sell/Stop orders are pending orders that will get triggered later if the price moves to them. This is a better way to trade as it at least let's the price move the way we want it to before we enter the market.

BTW...I am from WI also. Nice to see another fellow cheesehead

Please let me know if I can help you in anyway
"Keep your eyes on the helpers" - Mr. Rogers
  • #59
  • Apr 18, 2008 12:34am Apr 18, 2008 12:34am
Quoting damonl
Using your chart above with the numbers, I will go through how I see the trade here happenening.
I was too preoccupied with this thread that I completely missed out your reply to my earlier post. My bad! However, I think I have understood much better with your analysis and together with your recent update to this strategy, it really put things into perspective. Thanks again! I will continue to practise with your guidance. Rest assure I will have more questions to ask (if you don't mind).
  • #60
  • Apr 18, 2008 4:41am Apr 18, 2008 4:41am
may i ask stupid question? what does it means indicator repaints itself .

what does it means repaint? would sum one generous explain to me
Novice Trader
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