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"The Logical Trader" - Thread to develop manual trading using insights from this book

  • #21
  • Mar 20, 2011 11:10am Mar 20, 2011 11:10am
STEVE !!!!!

You can run, but you cannot hide.

Found you and plan to keep paying close attention to this endeavor.

Best of success !!!
  • #22
  • Mar 20, 2011 3:03pm Mar 20, 2011 3:03pm
  • #23
  • Mar 20, 2011 6:09pm Mar 20, 2011 6:09pm
Quoting SteveHopwood
Fantiastic whip. Thanks. I am going out now; later I shall add the zip to post 1 so it does not get lost as the thread grows.

Cheers

Thanks Steve,
As long as the effort is made to read the pdf first....that crib sheet will help jog the memory.....

whip
  • #24
  • Mar 21, 2011 3:52am Mar 21, 2011 3:52am
Some signals already this morning.

 

  1. I did not take the GU. Price had already bounced of the Sixths high and was approaching the point at which TOB would have filled a pending sell.
  2. I took the GJ. I would not have taken this live. The market has already shown considerable resistance at the trade level, so I would have sat this one out. I want to see if I can hedge my way out if the market retraces to C.
  3. I took the eurgbp. Again, significant support at the trade price level, but I want to practise manual trading to see if I can get out of jail when a trade goes bad. If the market breaks the support, it looks as though my 30 pip tp is a bit sparse.

Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu.gif Size: 16 KB
Click to Enlarge Name: gj.gif Size: 13 KB
Click to Enlarge Name: eg.gif Size: 17 KB
  • #25
  • Mar 21, 2011 11:29am Mar 21, 2011 11:29am
Quoting calstock
I have this indicator on file, hope its what your looking for..
Thanks very much. The indicator is useful, however, I was looking for something which would keep the 30 day rolling totals as well as indicating what was the pivot 30 days ago. It can be done with this indicator manually and I suppose someone who is familiar with indicator programing could add it to this.

In case some people are wondering what the hell I am talking about. According to fisher for MACRO ACD you have to keep a 30 day total, each day is assigned a plus or minus value depending on what happened that day. Moreover, he asserts that markets tend to have a 30 trading day cycle and what happened 30 days ago has a high tendency to happen today.

Kind regards
  • #26
  • Mar 21, 2011 12:14pm Mar 21, 2011 12:14pm
Quoting Pippopotamus
I'm sure most are familiar with. I use it in my manual trading-10 pd ATR.
Hi Pippo

Thanks for the post, chandellier has been well established, however, maybe I am being a bit slow on the uptake (it is monday after all), but what is the relevance to this thread.
Kind Regards
  • #27
  • Mar 21, 2011 12:25pm Mar 21, 2011 12:25pm
Quoting astral77
Thanks very much. The indicator is useful, however, I was looking for something which would keep the 30 day rolling totals as well as indicating what was the pivot 30 days ago. It can be done with this indicator manually and I suppose someone who is familiar with indicator programing could add it to this.

In case some people are wondering what the hell I am talking about....
I was thinking exactly the same thing, it appears Mark keeps track of pretty much every stat possible and can refer back to what a market did on a particular day years ago.........wow that's dedication.

Then we have the very clever coders here at FF

Like you say if we had automated system in place of keeping tabs of the daily scores per currency pair, then in theory when we go from 0 (zero) scores all the way to his +9 runs, we would have an invaluable set of data warning us of either very strong trend reversals or indeed strong trend moves.

The Macro ACD stuff is very very interesting, my only problem is i'm sure I would find a way to screw up keeping a correct tally of the scores -

Can it be done with coding ?

Mind Blowing if yes.
  • #28
  • Mar 21, 2011 12:43pm Mar 21, 2011 12:43pm
Quoting astral77
Hi Pippo

Thanks for the post, chandellier has been well established, however, maybe I am being a bit slow on the uptake (it is monday after all), but what is the relevance to this thread.
Kind Regards
but will allow it may be out of place. Have removed post.
Vincit qui se vincit.
  • #29
  • Mar 21, 2011 12:53pm Mar 21, 2011 12:53pm
Update on those trades from earlier today.

The gj made it to +39, but I had taken the tp off and set a 30 pip trail just to see what happened. The trade stopped out at +10.

I closed the eurgbp at +6 when the market stalled.

I also have an ej sell from Friday, so I hedged at double lotsize to see if I could get out at breakeven. The market stalled during the afternoon, so I closed the hedge at +9.

I also have 2 uj buys open, with a Recovery-style +10 tp.

At one point today, highly profitable gj and eg trades would have allowed me to close the entire position at a tiny profit.

  • #30
  • Mar 21, 2011 12:57pm Mar 21, 2011 12:57pm
Hello Steve ...

Just a suggestion ... Using THV TRIX of 15M from THV thread can be used for
exit .... Just look if have time ...

Arun...
  • #31
  • Mar 21, 2011 5:04pm Mar 21, 2011 5:04pm
Quoting arunsideas
Hello Steve ...

Just a suggestion ... Using THV TRIX of 15M from THV thread can be used for
exit .... Just look if have time ...

Arun...
Cheers.

  • #32
  • Mar 21, 2011 5:24pm Mar 21, 2011 5:24pm
Quoting Pippopotamus
but will allow it may be out of place. Have removed post.
Please forgive me Pippo, I did not mean for you to delete your contribution, at the time I was at work and at a glance could not see the relevance, but now it clicked. Since the method is very vague regrading exits, you were offering a possible exit method. I hope I have not caused offence.

Today Steve confirmed what I had observed last week (i.e. potential of using ACD signals for scalping). The reason for this is due to changing direction of the signals during the day, you may start with an A up then move to neutral Opening range then get a C down and when you think you have a definate direction the signal starts going the opposite direction. This is suitable for people who can devote all of their attention to scalp trading during the day. For people like me who have 10/20 minutes free time here and there it would not work out since we would miss so many signals.

Kind Regards
  • #33
  • Mar 21, 2011 5:44pm Mar 21, 2011 5:44pm
Quoting astral77
Please forgive me Pippo, I did not mean for you to delete your contribution, at the time I was at work and at a glance could not see the relevance, but now it clicked. Since the method is very vague regrading exits, you were offering a possible exit method. I hope I have not caused offence.
I saw none of this earlier. It is fabulous to see you guys coming to an accommodation with one another.

astral would never cause offence except by the most disastrous of inadvertent gaff.

Pippo, I suspect you and I have a lot in common: impatience? slightly (ok, in my case monumentally) short temper? inclined to post first and think later? etc. Trust me friend; I have come to value your posts so do not feel too defensive.

Quote
Today Steve confirmed what I had observed last week (i.e. potential of using ACD signals for scalping). The reason for this is due to changing direction of the signals during the day, you may start with an A up then move to neutral Opening range then get a C down and when you think you have a definate direction the signal starts going the opposite direction. This is suitable for people who can devote all of their attention to scalp trading during the day. For people like me who have 10/20 minutes free time here and there it would not work out since...
Early days, very early days, so what follows is a loooooong way from being A Plan, let alone definitive. One thing I am finding is this: when there are pips going, grab them. A strict tp of 30 pips would have netted a handsome profit today. Faffing around left a lot of pips on the table.

  • #34
  • Mar 21, 2011 6:19pm Mar 21, 2011 6:19pm
For your consideration. ChandelierExitM.mq4
Attached Image (click to enlarge)
Click to Enlarge Name: bb.gif Size: 19 KB
Vincit qui se vincit.
  • #35
  • Mar 21, 2011 7:04pm Mar 21, 2011 7:04pm
We have to balance leaving pips on the table and losing out with price direction reversing and losing out that way. With regard to what time should be our market open time, at present the default is 08:00. I have been looking at Volumes on half a dozen pairs and the higher volume seems to start at 07:00 GMT, even with pairs such as AUDJPY (please see attached chart). If anyone wants to look deeper in to this they should go back to before the Japan Earth quake.

Kind Regards
Attached Image
  • #36
  • Mar 21, 2011 7:29pm Mar 21, 2011 7:29pm
Quoting astral77
We have to balance leaving pips on the table and losing out with price direction reversing and losing out that way. With regard to what time should be our market open time, at present the default is 08:00. I have been looking at Volumes on half a dozen pairs and the higher volume seems to start at 07:00 GMT, even with pairs such as AUDJPY (please see attached chart). If anyone wants to look deeper in to this they should go back to before the Japan Earth quake.

Kind Regards
I suppose this brings into focus:

 

  1. my questioning of MF's 'market opening' in relation to trading forex
  2. that his methods are not necessarily relevant in every respect, to the ferocity and 24 hour nature of forex

Maybe those of us in right-way-up-land merely need to make our opening range the gmt 7.00 gmt candle our opening range - the start of the European session......

Maybe those of us in upside-down-land merely need to make our opening range the gmt 22.00 gmt candle our opening range - the start of the Asian session......

and take it from there. Not sure yet. Amongst much other thingies, this is what this thread is all about.

Thanks for some great contributions, guys.


  • #37
  • Mar 21, 2011 7:51pm Mar 21, 2011 7:51pm
Quoting Pippopotamus
For your consideration. ChandelierExitM.mq4
There is a professional trader called Chuck leBeau who has done a lot of work with Chandelier trailing stops. It is worth doing an internet search for his work for more that just the context of this thread.

  • #38
  • Mar 21, 2011 9:11pm Mar 21, 2011 9:11pm
Quoting arunsideas
Friend ...Nice tread .. subscribed....

Book in pdf format link not working.... please reupload it again...

Thanks ....

Arun..

Just used the same link to download the book...........137 pages large PDF.
  • #39
  • Mar 21, 2011 10:00pm Mar 21, 2011 10:00pm
I start watching the market for a trade as early as 1 hour before Frankfurt.

It is indeed where the market becomes more active then the Asian hours before.
  • #40
  • Mar 21, 2011 10:35pm Mar 21, 2011 10:35pm
FWIW - Fisher's insights beginning on p. 113 on the subject of intermediate-term trend following using the slope of multiple pivot MA's has proven quite useful for me in the commodity markets.
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