55 day channel and 21 day Trailing Stop by Van Tharp | Forex Factory

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55 day channel and 21 day Trailing Stop by Van Tharp

  • #1
  • First Post: Aug 27, 2008 5:05pm Aug 27, 2008 5:05pm
Gidday

Has anyone made a trading system based on Van Tharp's position size experiments. In his book "trade your way to financial freedom".

You have a 55 day channel with stop orders and a 21 day sl and Trailing SL.

if the proce goes over the high of the previous 55 days you go long and vice versa for the 55 day low.
once you are stopped out either in profit or loss then recalculate the 55 day H/L from the current bar.

anyway I have been looking around here and a few other forums but no luck yet.

and ifo would be great.
  • #2
  • Aug 27, 2008 5:10pm Aug 27, 2008 5:10pm
Quoting Kiwi06
Gidday

Has anyone made a trading system based on Van Tharp's position size experiments. In his book "trade your way to financial freedom".

You have a 55 day channel with stop orders and a 21 day sl and Trailing SL.

if the proce goes over the high of the previous 55 days you go long and vice versa for the 55 day low.
once you are stopped out either in profit or loss then recalculate the 55 day H/L from the current bar.

anyway I have been looking around here and a few other forums but no luck yet.

and ifo would be great.
I don't know who Van Tharp is, but what you have described is part of the original Turtles system.
  • #3
  • Aug 27, 2008 5:49pm Aug 27, 2008 5:49pm
bill i think the turtles were trading an 89 day donchian breakout that averaged in 2 legs if the market allowed it.
  • #4
  • Aug 27, 2008 6:07pm Aug 27, 2008 6:07pm
The original Turtle system offered a choice of two different entrances and exits:
1. 20-10
2. 55-20

Here's a pdf.
Attached File(s)
File Type: pdf turtlerules.pdf   271 KB | 1,610 downloads
  • #5
  • Oct 10, 2009 1:06pm Oct 10, 2009 1:06pm
If you are interested in designing a system along those lines, pickup the book "The Way of the Turtle" by Curtis Faith.

It's a decent read, for history (from an insider) of the "turtle experiment" and definitely worth the price because it has alot about trading systems.

Building robust systems, system death, money management (including the turtle position sizing rules), all within. If you like programming EAs and such, you'll love the book.
  • #6
  • Oct 10, 2009 11:13pm Oct 10, 2009 11:13pm
my friend on the Street told me van tharp is full of bullshit.

he earns money from writing books, NOT from trading.

if he's good at trading, he won't write those many books.
  • #7
  • Last Post: Oct 11, 2009 10:56am Oct 11, 2009 10:56am
Quoting charvo
my friend on the Street told me van tharp is full of bullshit.

he earns money from writing books, NOT from trading.

if he's good at trading, he won't write those many books.

I'm curious, when you say you have a friend on the street, do you mean works in a wall street building (janitor, receptionist, "waste management engineer") or something like that?

I had the pleasure of working on the street for a trading desk as a licensed trader. (Series 7 and 63). There are indeed some traders who think van tharp is a con. But on the other side, there are some who swear by his theories and systems, and are still making money. Personally I believe that trading is a very difficult thing to do, well, consistently over time. Some people just can't handle that, which is why they write books instead.
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