AtClarkson Trading J16

Silver update: pulled my stops up a little tighter last night and got stopped out. (Went 5 pips past my stop)

Sold at 17.92, took half off at 17.73
= 19 pip profit

Took second half off at 17.53
= 39 pip profit

Really liking the mbq style of not taking profits until you take them all at once... because this trade would have gone for 39 full pips rather than 19 half and 39 half... or .4% gain rather than .3%

To Do:

-Decide on JadeFX or PrimeBank
-PPZ and TLs on FxPro charts (5pm close, so I will be keeping them for charts only
-Adjust/improve rules
-more to come

Rules for Trading
(all bold parts are new/changed)

All trading is done on the Daily/Weekly charts
Entry Signals: Pin, outside and inside bars, DBLHC and DBHLC.


Entry

Pinbar-
Open and close in top/bottom 1/3 of bar
Must noticeably stick out from surrounding bars (at least half the bar)
Open and close must be within range of previous bar
Close preferably will be showing momentum and closer to the end of the bar than the open

BUOB/BEOB-
Bar completely engulfs previous bar
Close must be within top/bottom 1/4 of bar
Close must be above/below the High/Low of the engulfed bar

DBLHC/DBHLC-
Matching low/high must be within 2-3 pips to be valid
Close must be very close to the end of the second bar

All-
-Trade with the trend (Higher highs, higher lows/lower highs, lower lows)
-Trade large consolidation areas at obvious points of S/R
-Bar must be at swing low for bullish signal, swing high for bearish signal
-Enter at 10 pips break of signal bar to confirm a break of signal bar
-For position sizing purposes, stop will be assumed to be set 10 pips below the opposite end of the signal bar
Then, stop will be moved up bar to a reasonable spot based on S/R to ensure never taking a full bar loss
-1% MAXIMUM risk on any one trade
-Look for nearby traffic/first trouble area to make sure it is far enough away to allow the trade to run a bit
-Trade only with a minimum of 2 levels of confluence (PPZ, 150 or 365 EMA, Big Round numbers. Fibs, divergence)
-Lots of space behind the bar

Trade Management
Stops will be moved to breakeven (entry price) at 10-30 pips profit
Testing holding full position thru to completion of trade rather than taking partial profits.
Both of these will be assisted by the J16 Manager EA that will do it automatically if I am not at the computer.

Exit
Based closely on Mbq's post here: http://www.forexfactory.com/showpost...ostcount=36491 (Thanks again Mike)

Hold full position to completion of trade
If trading into traffic, get to BE ASAP, and exit at first trouble area.
If a longer term trade (great location, trend reversal, etc) then manually trail stops based on S/R, or a trailing stop method (2 bar, auto, etc)
Don't try to be a hero!

Going with PrimeBank. Setting up tonight.... going outto plow my buddy's grandmas driveway now lol

back soon.

lol sorry i was meaning dont give up on trading futures just cos of that sucky nat gas one. duno what was up with that.

hahaha grandma will love you for plowing her driveway nice and clean! do a burnout out the front to when you leave

yeh and get some pics of snow to!

Lol, the reason I am getting rid of the futures is cuz I want to go back to a 'normal' size account. Something I might actually have this year or so. And I can't trade futures on Primebank. I'll get back to them sometime for sure, when I have the account size.

Forgot the snow pics... dark out now lol.
Checking the dailies.

hi, has anyone try jadefx? please I need help. Seem like only one person operating the whole brokerage firm name Jacob. Please reply me. Thank you

Lol, Look up a guy on here that goes by Fulltime247. He really likes them. I would have gone with them (and still might, depending on when I go love and how far along Primebank gets with their customer base) nut PB has more pairs.

I heard they are decent. Check out their website, pretty much tells it all.

Alright. Starting another demo account. This time with 5k. (An amount I think is fairly reasonable that I could have saved up in the next 6-9 months)

This is the real thing. I am not adjusting or resetting or touching those settings for 3 months. Today is December 13/09. On March 13/10 I will measure my progress (in addition to month over month)

I am aiming for approx 5% per month. This is just a goal, but a reasonably attainable one. That would put my account a little under 6k in March.

Each trade will be taken with a 1% risk. Stops will be moved very quickly, so I do expect a number of break even trades. I also will be placing stops much closer to my entry off the bat, but position sizing still as if they were at the other end of the bar. If I get good at this, it could lead to taking on a larger position size with the same about of risk.


If I can make 5% a month for 3 consistent months, (which will make me 5/6 profitable months) I will look at making a very small deposit at my broker. Depends on what I have saved at that point. If I do not have enough saved, I will continue on demo until I do. It could take me a while to save up 5k, as I am also saving for a house right now.

Going to print off my rules to put them up by my monitor.

Trades on today

I have 3 stops set today. We'll see what happens.

Ecad Pin- Nice pin. Clear Swing low. 2 round numbers. Clear PPZ on Rounds.Trend line (purple) Lots of space. Sticks out touch less than 50%. Clear area of support. About 40 pips to first trouble area. Should easily run to 1.56 level. This is a nice area so I will trail this one, but will prob take profit at 1.56.

ENzd IB- First time playing these. New uptrend, on that TL and at flip of old TL, Clear Swing Low, Just sat on round of 2.01, couple PPZ areas of support, has space. Buying Break of 2.05 (some pips above parent bar) and has about 100 pips to run from there if it goes. Prob take full profit at 2.07 area where there are many bar lows.

NChf- another big IB, New trend again, on TL, round number, nice space, ppz at .75, Buy break of parent bar and full profit at .73 area.


All are stops to BE at 15 pips (10 for Nchf)
All have been position sized as if the stop were at the end of the signal bar, but the stops are behind what i have determined to be a ppz area that provides a much closer stop (so realistically I have much less than 1% on the line)

Example attached of what I mean (Matt let me know if this explains it well enough)

I believe this strategy will allow me to reduce the risk of a full bar loss (as James himself says, he will kill a loss, and will not take a full bar loss) will let me walk away from the computer confident of what I have placed, and getting the stops to BE that quick lets me also be confident when it breaks, I have a very good chance of BE being the worst case scenario. (That's a good thing!)


I will be testing this out and seeing if it is too conservative or not. I'll keep y'all updated.

Just put an order in for the weekly NCad BUOB.

Swing low, space, trendline, 50 and 38 fib, 365, round numbers .75 and .76, set order at break of .77. BE at 10 pips. (I think this is probably too tight for a weekly, but we'll see what happens, because there is a bar high/low at .7725)

Ecad went up, EA activated and it came back and stopped at BE.
I've reentered with the same parameters.


I'm not sure if I like my idea of putting an initial stop tighter or not... emotions are blurring my view. This is def something I have to work on. (psych) What I really need is a few winners to boost my confidence a little. I know the method works. I just need to see I can do it well, and get used to a loss here and there.

Bed time... work in the AM

i think u said it all clarkson. i think having a few winners is the key to it all. get the confidence up. because at the moment i have been losing for like months on end and it sucks.
just like clockwork said the first time you have a 300 pip trade your trading will be different and a lot better from there on in.

i cant wait

happy plowin!

hey doods!

wish I had more time to shoot the shit but oh well..

clarkson what are your IB rules? sorry if you posted them and i couldnt find them..

Matt- Ya man. I had a few a while back, but I was all over the map compared to now. My reentry on ECad is up 40 and stops at BE. Gonna check in on it after work. NCad is hovering around BE, but stops not moved up yet.

Stoiter- drop by when ya can. I'll post IB rules tonight for ya. Off to work now!

you da man clarkson. bet your all over silver IB.
my trade on c.j was a winner but got stopped out. about time something went right.

Update:

EN Canceled (broke out other direction)
NChf Canceled (broke out other direction)

NCad Stopped at BE

Ecad Stuck a 40 pip trailing stop on it this morning, and ended up with 24 pips profit because it reversed. It did move 65 pips at its peak. Lesson learned? I should have taken profit at the first major trouble spot (PPZ at 1.56) I will likely keep a little closer take profit areas because I am away from the computer alot now with work and my business (can go 12-24 hours away, depending on circumstances) The EA will save me in many cases, but I'd like to be able to pull off some profit in the meantime.

0.16% Gain in account. (that 5% seems so far away....) But As I get better it will become easier.

I certainly feel as tho being able to watch my trades would be a benefit, but even more so would be just to check in every hour or so. But, I know this is doable without even that.

Learning...waiting. Onto the next ones.

Matt- don't have silver anymore on my new broker

Nothing out there for me today!

Hopefully I'll be abole to get to the charts at a decent time tomorrow... instead of 7 hours after the close lol

Checking up on where the trades went...


NChf I should have looked better at the weekly... it moved really nicely, and was against the daily I took.

NCad - profitable now, but not worth the drawdown IMO

ECad Pin - Reversed... if not for BE would have been a full bar loss. need to figure out how to take more profit out next time tho

EN Still the other way

Caught up on J16 reading.

Realized my round number indy was setup ALL wrong.
I thought something felt funny.
Ex- EU was 1.45 1.46 1.47 1.48... Round numbers, yeah, but not BIG ROUND NUMBERS.

I've adjusted all my charts to make them right. everything seems so much clearer again.... lol. I must have sounded liek a tool "oh ya... sticks thru round 1.23 and 1.24..." haha. Also changed the colour, looks much nicer now.

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