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ATP (Advanced Trading Philosophy) - Phasing into Income Potential

  • #61
  • Apr 24, 2008 8:03am Apr 24, 2008 8:03am
Hi damonl,

first I´d like to thank you for your interesting strategy. Looks very promising...
Everything clear and simple...Keep it up!
The only thing I didn´t understand was the exit. Sorry, maybe it´s my weak English...

Quote
<<<"I will be exiting the market only when the D1 has changed color and is not pointing in a different direction then either the Strong Trend or the Weak Trend.

For the time being, I will not close my trades at Market Prices when the SWI color changes, but rather use the 1 pip + spread above the bar or 1 pip below the bar to close out those orders.">>>
Would someone be so kind...
For Backtesting I used Weekly Exits, Sunday Open to next Friday Close...

Thanks again...
  • #62
  • Apr 24, 2008 8:16am Apr 24, 2008 8:16am
Quoting meta4ric
Hi damonl,

first I´d like to thank you for your interesting strategy. Looks very promising...
Everything clear and simple...Keep it up!
The only thing I didn´t understand was the exit. Sorry, maybe it´s my weak English...

Would someone be so kind...
For Backtesting I used Weekly Exits, Sunday Open to next Friday Close...

Thanks again...
As meta4ric is from Austria, I will answer that question in German if that is okay with everybody.

@ meta4ric

Der Exit wird momentan anhand des SWI auf Tagesbasis ermittelt. Wenn Du auf Wochenbasis einen Uptrend hast (egal ob stark oder schwach), dann handelst Du auf Tagesbasis nur LongTrades und das nur, wenn der SWI grün ist. Sollte der SWI zu rot drehen auf Tagesbasis, schließt Du Deine Positionen, weil dies auf eine Korrektur oder auf einen Trendwechsel hindeuten könnte.

Damon schließt seine Positionen aber nicht, sondern würde bei einer Longposition den SL unter das Tief des Bars (+Spread + 1 Pip) setzen, wo der SWI auf Tagesbasis rot geworden ist.
  • #63
  • Apr 24, 2008 8:27am Apr 24, 2008 8:27am
Hi Damonl & guys,

Firstly ,thanks for sharing and would like to join this team for this complete
trading concept.Started into demo.

Position- buy:usd/jpy

buy:eur/chf


Wil see how it goes from here.

Zu
  • #64
  • Apr 24, 2008 9:42am Apr 24, 2008 9:42am
Hi Damonl,

Is this what you mean by a weak down trend? We have a red Solar Wind, with a yellow section NonLag MA (yellow arrow) followed by green MA section on the Weekly Chart.

I am a little confused as to the direction of the trade in this case. You state:

If the SWI is moving in the same direction as the Weak Trend, then we start placing a new trade everyday either 1 pip + spread above the high of the bar that just closed or 1 pip below the low of the bar that just closed.

Just to clarify this statement, we have a weak down trend on the weekly chart, we now move to the Daily chart, we wait for the SWI to turn green and place a long position 1 pip + spread above the high of the last closed bar. Is my understanding of this correct?
Attached Image (click to enlarge)
Click to Enlarge Name: weak down trend t1.gif Size: 26 KB
  • #65
  • Apr 24, 2008 9:56am Apr 24, 2008 9:56am
Quoting ozziedave
Hi Damonl,

Is this what you mean by a weak down trend? We have a red Solar Wind, with a yellow section NonLag MA (yellow arrow) followed by green MA section on the Weekly Chart.
Hi Ozzie,

That is a weak down trend, but I think we could also say retracement.

As we are only placing orders in direction of the weekly trend, we would just open short positions and would make pips with the trend, if it continues after the retracement.

That´s how I understood the logic and that is how Bull set up the spreadsheet.
  • #66
  • Apr 24, 2008 10:42am Apr 24, 2008 10:42am
Quoting DaBuschi
Hi Ozzie,

That is a weak down trend, but I think we could also say retracement.

As we are only placing orders in direction of the weekly trend, we would just open short positions and would make pips with the trend, if it continues after the retracement.

That´s how I understood the logic and that is how Bull set up the spreadsheet.
hi DaBuschi,

Yes, I know it's a retracement. What I was trying to establish is do we trade long from the daily chart when we have a weak down trend? It seems to me that some of the weak down trends last between 2-4 weeks. Take for example the USDCHF chart I posted. The weak down trend lasted for about 30 days and out of that 30 days there were only 8 days the SWI on the Daily chart was red, signaling a possible short trade.

So if we only take short positions during weak down trends then you wouldn't place many trades during the retracement period. So it's possible you may be sitting on the sidelines for days without trading that pair.
  • #67
  • Apr 24, 2008 10:45am Apr 24, 2008 10:45am
Quoting ozziedave
So if we only take short positions during weak down trends then you wouldn't place many trades during the retracement period. So it's possible you may be sitting on the sidelines for days without trading that pair.
I get your point and agree and these trades probably wouldn´t be the most profitable ones, but that way we get back into the main trend fairly early, when the NL signals downwards again and we will then also be able to increase lot sizes.

@Damon - What do you think?
  • #68
  • Edited Apr 25, 2008 8:00am Apr 24, 2008 12:52pm | Edited Apr 25, 2008 8:00am
Hello Damonl and everyone,

Still on the programming of the SWI. I have finished the SWI and I am trying to work on the NL now.

I have attached the SWI only here.

It is only an OSD which will show you the colours of all the SWI on all TF in just one window.

Ensure you download the SolarWind-ACS3 here and the Damonl SWI OSD Indicator into your indicator folder and then close and re-open. This SWI has a preset value so this exact indicator should be used.

Just test the indicator in action.

I will be working on the NL too.

*****Sorry. If you have downloaded the attachment just download the Damonl SWI OSD Indicator again because it has been re-modified to suit our perfect requirement.

Let me have your comments about the newly introduced indicator which is just a normal SWI but you don't necessarily have to go back to check your charts before seeing the colour on the other TF.

Let me also have your suggestions about the EA for trading too.

After I am done with the NLI then if you have SWI W1 in Lime and NL W1 in Lime and SWI D1 in Lime and NL D1 in Lime then we have a absolute strong trend. I will post all the rules as soon as I am done with the NL.
Trading Just Got Easier...
  • #69
  • Apr 24, 2008 3:02pm Apr 24, 2008 3:02pm
Quoting walesoje1
Hello Damonl and everyone,

Still on the programming of the SWI. I have finished the SWI and I am trying to work on the NL now.

I have attached the SWI only here.

It is only an OSD which will show you the colours of all the SWI on all TF in just one window.

Ensure you download the SolarWind-ACS3 here and the Damonl SWI OSD Indicator into your indicator folder and then close and re-open. This SWI has a preset value so this exact indicator should be used.

Just test the indicator in action.

I will be working on the NL too.

*****Sorry. If you have downloaded the attachment just download the Damonl SWI OSD Indicator again because it has been re-modified to suit our perfect requirement.

Let me have your comments about the newly introduced indicator which is just a normal SWI but you don't necessarily have to go back to check your charts before seeing the colour on the other TF.

Let me also have your suggestions about the EA for trading too.

After I am done with the NLI then if you have SWI W1 in Lime and NL W1 in Lime and SWI D1 in Lime and NL D1 in Lime then we have a absolute strong trend. I will post all the rules as soon as I am done with the NL.
Either I have a bad backround color, or the OSD indicator is not working, it isnt displaying the SWI in all time frames.

Here is my picture:
Attached Image (click to enlarge)
Click to Enlarge Name: eur.usd.d1.04.24.08.gif Size: 20 KB
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #70
  • Apr 24, 2008 3:04pm Apr 24, 2008 3:04pm
I just read up on the rules for strong trend. I do hope these positions are good.

Short EU @ 1.5678
Short GU @ 1.9727
Long UJ @ 104.36
Long EURCHF @ 1.6248

I have already entered these positions. I was just wondering damonl, when exactly do you enter your positions, at close of daily candle?

TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #71
  • Edited 5:09pm Apr 24, 2008 4:13pm | Edited 5:09pm
Legace,

Why is it not working? I think there is a problem on your side because here I could see everything.

It is working on the white background too.

No modification is necessary when using the indicator.

Also, I noticed that there has been over 13 views. Can we all contribute so I can know if this has been tested and confirmed ok by everyone?

I just finished it this evening and have backtested but everyone can do that too it would give us some kind of re-assurance and I think it could help us a great deal.

Quoting TheLegace
Either I have a bad backround color, or the OSD indicator is not working, it isnt displaying the SWI in all time frames.

Here is my picture:
Attached Image(s) (click to enlarge)
Click to Enlarge Name: copy.gif Size: 51 KB
Click to Enlarge Name: copy1.gif Size: 51 KB
Trading Just Got Easier...
  • #72
  • Apr 24, 2008 4:24pm Apr 24, 2008 4:24pm
Quoting damonl
I will be exiting the market only when the D1 has changed color and is not pointing in a different direction then either the Strong Trend or the Weak Trend.
I know that trendlines arent part of this methos..but in the pic below you can see that eurcad could be bouncing back up soon. Yet for the method rules i should exit my opened trade. What should i do in this case?
Exit in loss because of the system signal or wait for the possible bounce inside the triangle?

http://www.shareapic.net/preview3/007899386.jpg
  • #73
  • Apr 24, 2008 4:32pm Apr 24, 2008 4:32pm
Quoting walesoje1
Hello Damonl and everyone,

Still on the programming of the SWI. I have finished the SWI and I am trying to work on the NL now.

I have attached the SWI only here.

It is only an OSD which will show you the colours of all the SWI on all TF in just one window.

Ensure you download the SolarWind-ACS3 here and the Damonl SWI OSD Indicator into your indicator folder and then close and re-open. This SWI has a preset value so this exact indicator should be used.

Just test the indicator in action.

I will be working on the NL too.

*****Sorry. If you have downloaded the attachment just download the Damonl SWI OSD Indicator again because it has been re-modified to suit our perfect requirement.

Let me have your comments about the newly introduced indicator which is just a normal SWI but you don't necessarily have to go back to check your charts before seeing the colour on the other TF.

Let me also have your suggestions about the EA for trading too.

After I am done with the NLI then if you have SWI W1 in Lime and NL W1 in Lime and SWI D1 in Lime and NL D1 in Lime then we have a absolute strong trend. I will post all the rules as soon as I am done with the NL.
Wow Wales....fantastic job. I really like it. Looks like this could turn out to be a scalpers dream as well for when you are just sitting in front of the computer.

When M5 matches all the way to H1 or H4, you're good to go until M5 changes again. Just a thought, but will watch it more closely

Come to the computer and make a trade without looking at the charts...hmmmm we'll see how it works.

Thanks so much for this contribution.
"Keep your eyes on the helpers" - Mr. Rogers
  • #74
  • Apr 24, 2008 4:41pm Apr 24, 2008 4:41pm
Quoting TheLegace
I just read up on the rules for strong trend. I do hope these positions are good.

Short EU @ 1.5678
Short GU @ 1.9727
Long UJ @ 104.36
Long EURCHF @ 1.6248

I have already entered these positions. I was just wondering damonl, when exactly do you enter your positions, at close of daily candle?

TheLegace.
EU and GU are not good ST trades.

UJ and ECHF are good ST trades
"Keep your eyes on the helpers" - Mr. Rogers
  • #75
  • Apr 24, 2008 4:44pm Apr 24, 2008 4:44pm
Quoting ozziedave
hi DaBuschi,

Yes, I know it's a retracement. What I was trying to establish is do we trade long from the daily chart when we have a weak down trend? It seems to me that some of the weak down trends last between 2-4 weeks. Take for example the USDCHF chart I posted. The weak down trend lasted for about 30 days and out of that 30 days there were only 8 days the SWI on the Daily chart was red, signaling a possible short trade.

So if we only take short positions during weak down trends then you wouldn't place many trades during the retracement period. So it's possible you may be sitting on the sidelines for days without trading that pair.
Given the circumstances surronding UCHF being in a ranging market you would have been hard pressed to make any money during this time from the Daily charts which is how I trade. I would have been thankful to be out of this market.

However, there may be some other options that we can now look at with the new indicator by wales. We should keep in eye on this
"Keep your eyes on the helpers" - Mr. Rogers
  • #76
  • Apr 24, 2008 4:45pm Apr 24, 2008 4:45pm
Quoting DaBuschi
I get your point and agree and these trades probably wouldn´t be the most profitable ones, but that way we get back into the main trend fairly early, when the NL signals downwards again and we will then also be able to increase lot sizes.

@Damon - What do you think?
Not sure what you are asking.
"Keep your eyes on the helpers" - Mr. Rogers
  • #77
  • Apr 24, 2008 4:59pm Apr 24, 2008 4:59pm
Quoting Postrock
I know that trendlines arent part of this methos..but in the pic below you can see that eurcad could be bouncing back up soon. Yet for the method rules i should exit my opened trade. What should i do in this case?
Exit in loss because of the system signal or wait for the possible bounce inside the triangle?

http://www.shareapic.net/preview3/007899386.jpg
Hey PR....I am not a trader of trendlines as I never seem to get them right. What it looks to me is that market is very tight and it could just as easily fall below this line as bounce back up.

If you wanted you could set your s/L order 1 pip below the low of the bar that closed today to make sure that it just from here didn't start heading back up.

Also if you look at UCAD, it looks as if this pair is hitting it's head and coming down as well as EU which appears has broken any trendlines today and will probably go lower. Although these are just guesses as I really have no clue

That is really my only thoughts and most likely what I will do.

Besides, you may be looking at the loses, but had we known about this in January you would have made over 15,000 pips in the run that just occured. I'd follow the indicator

"Keep your eyes on the helpers" - Mr. Rogers
  • #78
  • Apr 24, 2008 5:01pm Apr 24, 2008 5:01pm
Quoting damonl
Not sure what you are asking.

Sorry, was a bit unclear. Just wanted to verify what you intended to do with the trades in the weak trend.

In my eyes its an opportunity to get back into the trend fairly early, if it continues. If it doesn´t, we shouldn´t place any trades anyway, as the daily SWI shouldn´t give any valid signals.

It more referred to Ozzies concerns. Anyway. I think I got it and if you use Bulls spreadsheet correctly, you shouldn´t have any problems at all, with one little exception.

@ Bull: When you wrote the formula for the "action" field, you forgot to include the spread for the short side. Right now it just calculates the low - 1 pip, but not the spread as well.

I realised that today, as I had the first short signals today.
  • #79
  • Apr 24, 2008 5:06pm Apr 24, 2008 5:06pm
EU on monthly is now Lime and on Daily is Red that means weak trend.

Your GU, UJ, and ECHF are correct.



Quoting TheLegace
I just read up on the rules for strong trend. I do hope these positions are good.

Short EU @ 1.5678
Short GU @ 1.9727
Long UJ @ 104.36
Long EURCHF @ 1.6248

I have already entered these positions. I was just wondering damonl, when exactly do you enter your positions, at close of daily candle?

TheLegace.
Trading Just Got Easier...
  • #80
  • Apr 24, 2008 5:09pm Apr 24, 2008 5:09pm
Quoting DaBuschi
Sorry, was a bit unclear. Just wanted to verify what you intended to do with the trades in the weak trend.

In my eyes its an opportunity to get back into the trend fairly early, if it continues. If it doesn´t, we shouldn´t place any trades anyway, as the daily SWI shouldn´t give any valid signals.

It more referred to Ozzies concerns. Anyway. I think I got it and if you use Bulls spreadsheet correctly, you shouldn´t have any problems at all, with one little exception.

@ Bull: When you wrote the formula for the "action" field, you forgot to include the spread for the short side. Right now it just calculates the low - 1 pip, but not the spread as well.

I realised that today, as I had the first short signals today.
Hey DB....yes. Bull's spreadsheet makes it easy. And I don't calculate spread on the short entries. I don't know why...I just never have.
"Keep your eyes on the helpers" - Mr. Rogers
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