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ATP (Advanced Trading Philosophy): 3+1=WIN

  • #61
  • May 6, 2008 6:15pm May 6, 2008 6:15pm
Quoting TheLegace
Thank you so much for the indicator, right now I really tested on time, but I will compare the rules and everything ASAP, probably in the morning, when I do my forex stuff.

Thanx Again
So far the indicator board looks good. But for some reason, the UCad and GY arent showing the MACDH color and U/C isnt show SWI for mine, I will post of up the screen shots later, maybe I might be doing something wrong. Will definately get back to you.
I also have a couple of blank spots but not the same ones.
using fxdd

dave
Is it Break Time yet?
  • #62
  • May 6, 2008 6:32pm May 6, 2008 6:32pm
Quoting dkhinckley
So a follow up and related question to walesoje1.

With high setting at 10080 and low at 1440 for D1 trades is the indicator looking at the last closed candle or the current open candle for the MACD-L
reading? I assume previous closed but wanted to be sure.

and ditto chucks comments, a real time saver. thanks . i like it.

dave
I think i can see now that it does look at the previous candle. when looking earlier i couldn't find an example of it but just found it looking at usd/jpy. thanks

dave
Is it Break Time yet?
  • #63
  • Edited 8:27pm May 6, 2008 7:32pm | Edited 8:27pm
Hi Everyone....Nice to see some action on the thread and people helping out people.

The D1 trades are going fine, and took a few small losses on H4, but the problem is that I cannot trade every4 hours as is recommened and so I think I will jsut stop trading H4 (don't really like it anyway) and focus on some shorter term D1 trades to compliment what we are already doing.

At this time I would like to go over all my trades to date and where we stand with open and pending orders.

Update 05/07/08:

AUD/USD: Today I have opened up a Long Trade at .9510 with a 200 S/L.

EUR/USD: Today there is no Actions.

NZD/USD: Today there is no Actions.

USD/CHF: Today I will cancel the pending order placed on 5/5 based on the change of color for the AC.

USD/JPY: Today I will cancel the pending order placed on 5/5 based on the change of color for the AC. I have a trade that triggered on 05/02, but since this is only the 3rd closed bar since the trigger I will leave my S/L for this order at 200 pips.

USD/CAD: Today there is no Actions.

EUR/CHF: Today there is no action. The order that I placed on 5/5 has triggered and it is only the 2nd closed day since this trade triggered so I will leave my S/L at 200 pips.

EUR/GBP: Today there is no action.

GBP/USD: Today there is no action. The order that I placed on 5/5 has triggered and is is only the 2nd closed day since this trade triggered so I will leave my S/L at 300 pips.

EUR/JPY: Today there is no action.

EUR/CAD: Today there is no action.

GBP/JPY: Today there is no action. The pending order I placed based on the closed bar on 05/05 has not yet triggered.

GBP/CHF: Today I cancelled the pending order I placed on 05/05 based on Sunday's close based on the AC changing colors.

This should get you caught up to where I am at as of today. I have an idea for three additional short term trades based on the D1 which I am curretnly investigating farther. They all look pretty good for the most part, but I want to do some more research on the matter. I will hopefully be in touch shortly.

Hope that you all have a good night and I will try to get to any pertinent posts that need my attention
"Keep your eyes on the helpers" - Mr. Rogers
  • #64
  • May 6, 2008 8:32pm May 6, 2008 8:32pm
Quoting walesoje1
Damonl,

The indicator is still repainting but it is really minimal and that means all is well.

Do you take your trades at some specfic time i.e. beginning of a new candle like it used to be?

Also, do you apply your MACD to close, open, high, low or what?

I have done the indicator and I am through with it. It is attached here.

I need more clarification on the MACD entries. What I programmed is as specified by you but what I initially did was according to my idea and that is, (For Long Entry) if the MACD is below 0 and the MACD main is greater than the signal. The current MACD main must also be greater than the previous and the MACD signal (current) is greater than the MACD signal (Past). This seem rather perfect but it is against your setup so I rectified and changed it to your exact settings.

For the settings, you only need to adjust the Lower_TF_Period and the Higher_TF_Period. The current values are set for Daily and 4H.

For Daily Candle Trading, where you will be using W1 and D1 then use 10080 for Higher TF and 1440 for Lower TF

For 4H Candle Trading, where you will be using D1 and 4H then use 1440 for Higher TF and 240 for Lower TF

For those willing to test on 1H, use 240 for Higher TF and 60 for Lower TF

Will be waiting for your exit rules.
Thanks for the help Wales...I will look at this presently. I use the MACD settings to close.
"Keep your eyes on the helpers" - Mr. Rogers
  • #65
  • May 7, 2008 6:46am May 7, 2008 6:46am
You were right. It is last week closed candle because we deal only with last closed candles.



Quoting chuckeepw
Wales

It is real time saver . When you are looking to enter daily trades and are tracking the weekly MACD on the indicator I assume each day it is lookng at last week's closed bar which will be fixed for the current week and not the current weekly bar which may be subject to change during the week. Is that correct?
Trading Just Got Easier...
  • #66
  • May 7, 2008 6:54am May 7, 2008 6:54am
Once you are done with the testing post your observations and comments.


Quoting TheLegace
Thank you so much for the indicator, right now I really tested on time, but I will compare the rules and everything ASAP, probably in the morning, when I do my forex stuff.

Thanx Again
So far the indicator board looks good. But for some reason, the UCad and GY arent showing the MACDH color and U/C isnt show SWI for mine, I will post of up the screen shots later, maybe I might be doing something wrong. Will definately get back to you.
Trading Just Got Easier...
  • #67
  • May 7, 2008 6:58am May 7, 2008 6:58am
You were right.


Quoting dkhinckley
So a follow up and related question to walesoje1.

With high setting at 10080 and low at 1440 for D1 trades is the indicator looking at the last closed candle or the current open candle for the MACD-L
reading? I assume previous closed but wanted to be sure.

and ditto chucks comments, a real time saver. thanks . i like it.

dave
Trading Just Got Easier...
  • #68
  • May 7, 2008 7:02am May 7, 2008 7:02am
You were right.


Quoting dkhinckley
So a follow up and related question to walesoje1.

With high setting at 10080 and low at 1440 for D1 trades is the indicator looking at the last closed candle or the current open candle for the MACD-L
reading? I assume previous closed but wanted to be sure.

and ditto chucks comments, a real time saver. thanks . i like it.

dave
Trading Just Got Easier...
  • #69
  • May 7, 2008 11:16am May 7, 2008 11:16am
How about trading only the direction of the SWI based on color and use stop and reverse on the D1? I have been profitable for the last 2 weeks since playing with this indicator. Just my 2 cents...
  • #70
  • Edited 11:41am May 7, 2008 11:41am | Edited 11:41am
Quoting lcfxtrader
How about trading only the direction of the SWI based on color and use stop and reverse on the D1? I have been profitable for the last 2 weeks since playing with this indicator. Just my 2 cents...
This isn't much to go on, please explain what you are doing: time frame, entry method, stop loss/take profit, exit method, etc.
  • #71
  • May 7, 2008 1:13pm May 7, 2008 1:13pm
I am only trading the direction of the SWI color (blue - long, red - short) on the daily chart on all the pairs ODL offers. If color changes, stop and reverse. No tp or s/l is being used. Open trades starting at the beginning of the week and close all before the market closes on Friday when open p/l shows a profit you are happy with. Will need more forward testing to see how viable it is.
  • #72
  • Edited 6:05pm May 7, 2008 5:50pm | Edited 6:05pm
Quoting lcfxtrader
I am only trading the direction of the SWI color (blue - long, red - short) on the daily chart on all the pairs ODL offers. If color changes, stop and reverse. No tp or s/l is being used. Open trades starting at the beginning of the week and close all before the market closes on Friday when open p/l shows a profit you are happy with. Will need more forward testing to see how viable it is.
hey lc....

I like the idea, but I think you can do better than that. It appears that in many cases you end up losing too many of your pips.

Let's see if we can come up with some rules. I'll start with this.

Enter as you say...at the color change of the SWI. Have a S/L of 300, 450 and 600 respective of pairs and their movements. This allows you to risk a certain percentage of your account with each trade.

Then bring into play the Non-Lag indicator. If you are in a long trade and the NL indicates a reversal by showing a yellow closed line pointing down, then you would immediately move your S/L settings to 1/3 of their normal value.

What this accomplishes is that now you are in a sense you are using a lot size where you are risking 3% and bringing this risk down to 1% at the first sign of a reversal. You will then be even more decreasing your risk. If your S/L is hit, then you are stand down until the next color change.

If your S/L is not hit then you then you keep your new S/L until the NL would turn back Long again. At this time you calculate 1/6 of your original S/L setting and then place your new S/L order this amount below the bar where the NL turned back north again.

You would then repeat this process the next time the NL turned against you and back in your favor.

I think that applying a technique such as this will save you a lot of pips in the long run and also give you many trades where you would be closed in profit as opposed to a loss.

The second part would be to T/P at 2x your origianl S/L.

What i have noticed is that since that trade will rarely go against you to hit your original S/L before you move it up, you are in a sense on most trades risking 100 pips to gain 600 pips or 150 pips to gain 900 or 200 pips to gain 1200 pips.

This is the type of risk reward ratio that you can be success with.

I also suggest that you never enter or Exit at market prices, but use buy and sell stops above or below the bar and of course your would exit on a reversal trigger if that comes sooner than your S/L.

Any other thoughts?

NL Indicator:
Attached File(s)
File Type: mq4 Damon smNonLagMA_v1.mq4   7 KB | 383 downloads
"Keep your eyes on the helpers" - Mr. Rogers
  • #73
  • May 7, 2008 6:28pm May 7, 2008 6:28pm
Hi Damon,

Did you have a chance to work out the money management rule for the 3 positions, you take per pair.

I was trying to visualize manually over the chart, the ideal entry days for the 1st position over the last year for few pairs. I could find on an average 6 to 7 perfect Set ups. Taking into considerstion that, we would have (7 X 13 pairs X 3 i.e. 270 instances). For rest of the days, it is just managing the S/Ls

Hi walesoje1

For some reasons there are some blanks coming on the Dashboard for few pairs. But the Dashboard is of great help. I can suggest you to add one more column say 102.31(green arrow up) or 102.31 (Red arrow down)

Thanks,
fx4gain
  • #74
  • May 7, 2008 7:07pm May 7, 2008 7:07pm
Quoting fx4gain
Hi Damon,

Did you have a chance to work out the money management rule for the 3 positions, you take per pair.

I was trying to visualize manually over the chart, the ideal entry days for the 1st position over the last year for few pairs. I could find on an average 6 to 7 perfect Set ups. Taking into considerstion that, we would have (7 X 13 pairs X 3 i.e. 270 instances). For rest of the days, it is just managing the S/Ls

Hi walesoje1

For some reasons there are some blanks coming on the Dashboard for few pairs. But the Dashboard is of great help. I can suggest you to add one more column say 102.31(green arrow up) or 102.31 (Red arrow down)

Thanks,
fx4gain
Hey fx4gain....

yes, i have worked out MM, but I think that you can work out something that would be best for you. We already know what are S/L settings are, so you can simply figure what you feel comfortable with.

One thing is that the first trade is the most risky and the few times we loose, only the 1st trade is triggered. Hardly never is the 2nd trade triggered where we would loose both of them.

So I would risk anywhere from 1%-3% depending on your comfort zone. As I feel this is no doubt a low risk way to trade, so start out low and get comfortable and as your account grows you can easily compound this to millions.

Take your time, because you will get there with this method. 2-3 years to financial freedom is really not that long of a time period.

So..start out with 1%, then 2% then 3% and even more. As you saw from your testing, this is profitable and so the possiblity to go more is there, but I would hate for anyone to have there 1st 2 trades be losers and lose there accounts, etc. So I will tell you conservative even though the track record even through 2005 (the year nothing worked) is very good.

Also...I would still cut each additional order in half so that if the market does turn against you, your first order is your strongest.

Hope this has been helpful
"Keep your eyes on the helpers" - Mr. Rogers
  • #75
  • May 7, 2008 7:28pm May 7, 2008 7:28pm
Quoting lcfxtrader
I am only trading the direction of the SWI color (blue - long, red - short) on the daily chart on all the pairs ODL offers. If color changes, stop and reverse. No tp or s/l is being used. Open trades starting at the beginning of the week and close all before the market closes on Friday when open p/l shows a profit you are happy with. Will need more forward testing to see how viable it is.
Hey lc....

What if.....

You took two kinds of trades...one with the AC and one with the SWI.

You would use the AC to enter into trades that went with the SWI on W1 and you used the SWI to enter trades that went against the SWI on W1.

This would even allow you to open up a second position going with the W1 SWI when the D1 SWI triggered as well.

Just a thought.
"Keep your eyes on the helpers" - Mr. Rogers
  • #76
  • Edited May 8, 2008 6:44am May 7, 2008 7:34pm | Edited May 8, 2008 6:44am
Hello...here is my trading update for today. Please note that I am working on a spreadsheet for you, but until I get everything finalized I am holding back.

Update 05/08/08:

AUD/USD: Yesterday's placed trade has not triggered, but based on the close of the AC, this trade will remain pending

EUR/USD: Today there is no Actions.

NZD/USD: Today there are no actions.

USD/CHF: Today there is no Actions.

USD/JPY: I have a trade that triggered on 05/02, but since this is only the 4th closed bar since the trigger I will leave my S/L for this order at 200 pips.

USD/CAD: Today there is no Actions.

EUR/CHF: Today there is no action. The order that I placed on 5/5 has triggered and it is only the 3rd closed day since this trade triggered so I will leave my S/L at 200 pips.

EUR/GBP: Today there is no action.

GBP/USD: Placed my ATP Pending order short @ 1.9501 with a 300 pip S/L and no T/P. The order that I placed on 5/5 has triggered and is is only the 3rd closed day since this trade triggered so I will leave my S/L at 300 pips.

EUR/JPY: Today there is no action.

EUR/CAD: Placed what would have been my 2nd ATP trade today short @ 1.5393 with a 300 pip S/L and no T/P.

GBP/JPY: The pending order I placed based on the closed bar on 05/05 has not yet triggered and would be cancled based on the close of the AC today in Red. Testing

GBP/CHF: Today there is no action

Well...I like where this is going no dobut.

I am still looking at some other entry options for dofferent scenarios. This is not yet over, but the foundation has been laid.

See you all tomorrow
"Keep your eyes on the helpers" - Mr. Rogers
  • #77
  • May 8, 2008 4:09am May 8, 2008 4:09am
Damonl,

I see future in the NL and I have always been using it. I use only the NL to take trades at some certain times.

I am currently trading something with deviation from your rules although I keep my risk low.

Since we are not actually trading loud market i.e. 1H and below, I am trading the TF I want only i.e. I trade 4H without checking Daily chart and I trade Daily without reference to Weekly chart.

I started this on 07-05 so you should disregard everything before then.

I have only one closed trade in loss but I have 2 orders on GBPCHF which is my negligence. It was an old pending order and did not cancel them.

You would agree that it has been cool so far.
Trading Just Got Easier...
  • #78
  • May 8, 2008 6:12am May 8, 2008 6:12am
Hey Wales....

I have been looking at the NL also in conjunction with the AC. It seems that they do pretty well for at least 100 pips with minimal S/L when they triger at the same time.

I guess I am just beginning to fall in love with my new system and I can't trade other TF's at the moment and so I may just step away from the computer and call it good. There is no doubt I can make some good profit, but I need more patience. It is hard since I want to be successful with trading Now.

Anyway...I have put a few tests out there using what lc brought up, but there is just too many whipsaws and I will not pursue it any farther.

I will continue to trade what I am doing with and I am also looking at another long term trade that I found on the forum which I will also be taking a look at as possible second set of rules for entering long term on the D1 charts.

One other thing that I noticed is just trading the D1 AC for GJ. Many more times than losses it will take 100 pips before it losses 100 pips, but I think with these types of trades, people get into trouble.

Anyway, food for thought. Glad you are doing so well with this. Please post for everyone how you are trading this on H4 so that others can learn a different method for this as well.

"Keep your eyes on the helpers" - Mr. Rogers
  • #79
  • May 8, 2008 2:42pm May 8, 2008 2:42pm
Damonl,

There is nothing really different. I only trade the AC with NL only and it works like hell. I only wait for candle closes. I trade 4H and D only. I will commit more lots when the NL and AC for both D1 and 4H align for trading 4H and then NL and AC must align on W1 and D1 for daily trading too.

The best indicator I have ever known which can be traded alone is the MACD. It says so much about trend which is our best friend. I made too much money trading all JPY's yesterday.

As for LC, I have checked trading with SWI only and although it looks promising but you will loose almost all your profits in the process of exiting. I have tested this myself too. You check check stochastics (8,3,3 applied to Low/High) or any other oscillator indicator for exits. Check the stochastics and if it is working then you will bag too many plenty pips



Quoting damonl
Hey Wales....

I have been looking at the NL also in conjunction with the AC. It seems that they do pretty well for at least 100 pips with minimal S/L when they triger at the same time.

I guess I am just beginning to fall in love with my new system and I can't trade other TF's at the moment and so I may just step away from the computer and call it good. There is no doubt I can make some good profit, but I need more patience. It is hard since I want to be successful with trading Now.

Anyway...I have put a few tests out there using what lc brought up, but there is just too many whipsaws and I will not pursue it any farther.

I will continue to trade what I am doing with and I am also looking at another long term trade that I found on the forum which I will also be taking a look at as possible second set of rules for entering long term on the D1 charts.

One other thing that I noticed is just trading the D1 AC for GJ. Many more times than losses it will take 100 pips before it losses 100 pips, but I think with these types of trades, people get into trouble.

Anyway, food for thought. Glad you are doing so well with this. Please post for everyone how you are trading this on H4 so that others can learn a different method for this as well.

Trading Just Got Easier...
  • #80
  • May 8, 2008 3:07pm May 8, 2008 3:07pm
Is anyone actually using this system live? For how long and what type of gains hgave you gotten.

I've seen a lot of people backtesting versions of this but...
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