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Profitunity (Chaos) Trading System by Bill Williams

  • #1,141
  • May 16, 2011 4:38pm May 16, 2011 4:38pm
[quote=yousafzai;4621956]I liked trading this very late hours trade. Forex really is 24 hrs market.
I thought I'll share it here. More details in the blog. Perhaps I exited too early as well as go in a bit earlier then I should have on the 2nd position.



Hi Yousafzai,

I entered about the same place, on a down fractal on the 5M chart.
Even tough I would have other opportunities to enter, I decided not to do so, because of the late hours.

I am still in the market, with a trailing stop (unusual for this strategy :-)), and a sure 32 pips green.
  • #1,142
  • May 17, 2011 6:32pm May 17, 2011 6:32pm
Maybe a valid use of triggers...
Attached Image (click to enlarge)
Click to Enlarge Name: good late day chaos trade.gif Size: 80 KB
  • #1,143
  • May 24, 2011 4:35pm May 24, 2011 4:35pm
[quote=kcsali;4622016]
Quoting yousafzai
I liked trading this very late hours trade. Forex really is 24 hrs market.
surely. sometimes the best trades are done during the small hoours
  • #1,144
  • May 25, 2011 5:41am May 25, 2011 5:41am
EU is still range bound on the H4/H1 chart. However it did provide a nice short during Asian session. I woke up to what many call choppy period. Hence I started waiting for that right moment. When the setup is just right. Finally AO was close to ZL and Alligator lines inter twined. Meaning get ready. A sleeping alligator and an AO Close to zero line means we are about to be in business. It was a setup on M1 as well. But following my rules of not trading m1 if M5 is at a saddle point I put pending on M5 level. Later added on at the peak of 3rd wave on m1 chart and exited on what I thought was a completed 1-5. (time will tell.) Note that 5th wave could not be confirmed on AO since its peak is higher than previous but I believe that is because we dont have sufficient number of bars on AO. we need at least 100 bars whereas at this point we have only 65 or so.
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-05-25 eu m5-horz.jpg Size: 299 KB
  • #1,145
  • May 30, 2011 3:35pm May 30, 2011 3:35pm
Hello, I am new to this group. I read Bill Williams books ages ago, most recently the latest book (changing to 3 wisemans setup), reading through this group lately and last but not least started trading. So far not much luck I admit.

This morning I did the following (see picture), basically in line with what I read here and reading through the itradeAIMS-blog:

 

  1. the alligator lines were all together.
  2. the higher level (15 min) had an open alligator mouth
  3. I did not select a too close fractal but the one I marked


I finally get filled.
It went my direction and I added on at the next fractal.

Then market turned around and I closed the trade with loss at first close about the red line.

What did i do wrong? Was my setup ok ?

http://img98.imageshack.us/img98/434...6may302218.jpg

Thanks, Thomas

  • #1,146
  • May 31, 2011 4:03am May 31, 2011 4:03am
Quoting Frenchie
Hello, I am new to this group. I read Bill Williams books ages ago, most recently the latest book (changing to 3 wisemans setup), reading through this group lately and last but not least started trading. So far not much luck I admit.

This morning I did the following (see picture), basically in line with what I read here and reading through the itradeAIMS-blog:
[list][*]the alligator lines were all together.[*]the higher level (15 min) had an open alligator mouth[*]I...

I'd like to comment but I have no idea what pair and time frame is it? secondly are you not using AO?
Anyhow, by the looks of it, without looking at AO I could see some kind of peak of AO before you went short. I am sure you traded into a 4th wave. IMHO.
without looking it up on my platform i'm not sure what to say but there is one point I must state is that even if you traded into 4th wave or may be not pic a correct setup, if it went against you and you paid a bit of rent so what. its gonna happen to you more often than you think. We close for loss many a times yet when we hit a trending market with a few add ons it covers everything. e.g last night Asian open was a perfect saddle point on m5 and m15. on h1 it was showing possibility of a 5th wave. Bracketing a saddle point is the name of the game if you can wait for it.

cheers many pip to you

cheers
  • #1,147
  • Edited 3:02pm May 31, 2011 2:13pm | Edited 3:02pm
Hello,

oh, yes. To be complete, here the context:

http://img189.imageshack.us/img189/1...8may312054.jpg



I see AO close to ZL, a peak earlier (W3?), followed by a smaller peak (W5?) preceeded by a dip below ZL (W4?) and it seems I wanted to get short catching a correction instead of another trend
You are right, I cannot expect to win every set-up. So far, I admit, my results are not great.
I do not have an account yet with a FX broker. I trade via my bank using knock-out coupons and pay 2pips spread plus 20 EUR a round turn.
Which means I need 10 pips just to be break even with my lot size. Looking at my current losses, a big part is actually transaction fees.
On top, from 10:00 pm till 08:00 CET I cannot trade with this account, or take a high risk of an overnigh position with hands bound.

That is - I think - what I have to optimise in finding a broker I only pay spread and can trade around the clock.
But of course I wanted to see if at all I can handle trading. As well psychologically, which really is a thing.... reading books and then actually get on the floor is two pair of shoes....

But I dont want to give up. Since I read BW first book in 95 I felt that this approach is something for me (and I read loads of books).

So enough the whining. This is no morning pages forum

I try to plan my next deal carefully ,,,,

Cheers & good trades,
Thomas
  • #1,148
  • Jun 2, 2011 3:11am Jun 2, 2011 3:11am
Next try:

http://img607.imageshack.us/img607/6...5jun021006.jpg

I see a range which could be W2 ? In that range the alligator mouth is closed. AO comes up through ZL.
I saw it late (so did not fetch it at break out fractal) and went long around where I placed that arrow. The horizontal line is my SL which corresponds to the down fractal.

Will go to a fairground with my daughter,,,,, let´s see later. Fingers crossed.

Cheers,
T.
  • #1,149
  • Jun 2, 2011 4:43am Jun 2, 2011 4:43am
Quoting Frenchie
Hello,

oh, yes. To be complete, here the context:

http://img189.imageshack.us/img189/1...8may312054.jpg



I see AO close to ZL, a peak earlier (W3?), followed by a smaller peak (W5?) preceeded by a dip below ZL (W4?) and it seems I wanted to get short catching a correction instead of another trend
You are right, I cannot expect to win every set-up. So far, I admit, my results are not great.
I do not have an account yet with a FX broker. I...
if there is one person here who's followed the Morning Pages advice I'd celebrate. Morning pages changed my life. Everyone should do it. cheers!
  • #1,150
  • Jun 2, 2011 4:46am Jun 2, 2011 4:46am
Quoting Frenchie
Next try:

http://img607.imageshack.us/img607/6...5jun021006.jpg

I see a range which could be W2 ? In that range the alligator mouth is closed. AO comes up through ZL.
I saw it late (so did not fetch it at break out fractal) and went long around where I placed that arrow. The horizontal line is my SL which corresponds to the down fractal.

Will go to a fairground with my daughter,,,,, let´s see later. Fingers crossed.

Cheers,
T.
Its Looking very good now!
  • #1,151
  • Edited 1:57pm Jun 2, 2011 1:27pm | Edited 1:57pm
So far so good

I came home and it was almost at the end of W4. I decided to not sell in panic but hold through W5. But then I sold when the W3 level was reached.
After many losses I had, I wanted to play save. And I did good, as W5 did not go well beyond W3.

What a good feeling I was with the flow once!

This morning pages excercise really was good for you? I tried it but for 3 days in a row I had the same things to write down.... and gave up. Maybe I should read this book BW refers to...

Cheers, T.

http://img694.imageshack.us/img694/9...7jun022020.jpg
  • #1,152
  • Jun 3, 2011 5:56pm Jun 3, 2011 5:56pm
The Fear of Trading: The left brain

Our concious brain is what creates our physical experience of life. As a survival mechanism the concious mind always looks at the darker side of life. It looks for potential problems, so it could formulate potential solutions. It wants to one step ahead of time. Since, with every trade comes the possibility of losing the lefty always looks at the half empty glass, the negative side, the problem side.

Morning pages helps with taming down the left brain, our survival mechanism. with a strategy that could easily give you 60% losers one really needs to tame Mr. left brain down a bit. To be able to look at the bright side of the picture morning pages helps a great deal. I dont know how and what happens during morning pages but doing them absolutely eases my mind. It helps with concentration and staying in the "Now". In the words of the Great BW, "it certainly helps me get to the other side".

Another thing that is useful is "Autogenic Training". For Further details I'd recommend reading the books and visiting www.profitunity.com.
Auto-suggestion and Self-hypnosis technique.

At the end of each tape in Profitunity Home Study Course Bill Williams reminds of completing The Morning pages. in fact I'd like to quote a very important bit about the importance of 3 pages/morning pages from the book, Trading Chaos 2nd Edition,p163
"This commitment is so essential that if you are not willing to make this a serious commitment, even more important that the last 30 minute of sleep in the morning, I strongly suggest that you quit right now. There is no compulsion fro you to do this program. You well may choose to go on living your life and trading that way you have always traded. It is your life and you should make this choice."
(in a way, he is suggesting that to trade chaos, to trade differently then you traded before and to be able to follow his technique, you must take this on board. He gives us no choices its a yes or no)
You can see how strong this statement is.

He also says that in almost all the cases where people would fail to become successful even after attending tutorial and/or completing home study course the reason they find is that they dont do the morning pages. It is this important. I hope I understand what is written above first and foremost and the rest of us Profitunity Traders.

Starting a few affirmative statements every morning is a best practice.

All the best,
We create our own reality.
cheers
  • #1,153
  • Jun 11, 2011 9:59am Jun 11, 2011 9:59am
Hey there!
Quite new to the Chaos Trading strategy, but I have now read through all the three books by Williams and must say his strategy seems worth the commitment. I'll join the thread with examples of my own charts and trades. Two questions before I begin:

1- How do you calculate the position size and stop loss of all the Add Ons. The initial stop loss and position size is easy, but I have some doubts about how to position stop loss and position size when it comes to all the add on signals (I mainly use the add ons from the second book "New Trading Dimensions"). Any suggestions?

2- How exactly do you do these morning pages. Is there any particular set of rules when writing them or can they be considered a 3 pages brain storming to be done every morning?

I have attached my AUD USD daily trade. As you can see it just got triggered. I used the strategy from the the New Trading Dimensions book which is my favorite. To avoid whiplashes I wait for a confirmation candle to break the fractal and then I place a stop order above/below the high/low of this confirmation bar instead. This way I avoid a lot of false signals. You can see this entry strategy of mine in the trade I attached. Please feel free to comment.

Good Trading
Attached Image(s) (click to enlarge)
Click to Enlarge Name: bw trade audusd daily.jpg Size: 180 KB
Click to Enlarge Name: bw trade audusd daily big.jpg Size: 171 KB
  • #1,154
  • Jun 14, 2011 10:59am Jun 14, 2011 10:59am
Here's an update on my previous AUD/USD trade. After the weekend the market is against me, but still hasn't stopped me out according to my Risk Management protocols. Could be that I entered the market a bit early as the market could still be ranging which will make for a strong trend soon. If I get stopped out I'll stop and reverse the same way I entered the market in the first place. If the market goes my way there's already an Addon waiting to be triggered. This Addon was generated by the AO oscillator crossing the zero line, but could also have bene a Fractal sell signal or a Balance Line Sell signal. Of course we don't addon three times on the same bar so we choose one signal and make only one addon each time. I'll keep you updated! Good Trading!

http://i1190.photobucket.com/albums/...sdupdate01.gif
  • #1,155
  • Jun 15, 2011 10:37am Jun 15, 2011 10:37am
Quoting yousafzai
The Fear of Trading: The left brain

Our concious brain is what creates our physical experience of life. As a survival mechanism the concious mind always looks at the darker side of life. It looks for potential problems, so it could formulate potential solutions. It wants to one step ahead of time. Since, with every trade comes the possibility of losing the lefty always looks at the half empty glass, the negative side, the problem side.

Morning pages helps with taming down the left brain, our survival mechanism. with a strategy that could easily...
I am curious about the timing of when the best time is to write the pages. I would like to know if any effectiveness is lost if I was to write the pages (along with a cup of coffee) when I got to the office in the morning vs writing when you first wake up?

It's always a bit of a rush to get going and get to work, but I would like to know if there is a significant impact of writing when first waking up vs writing when at work before the work day starts. It is actually fairly quiet when I get in and I have my own office in the Company....so just curious.

Thanks!
  • #1,156
  • Jun 15, 2011 3:30pm Jun 15, 2011 3:30pm
Quoting Begbie
I am curious about the timing of when the best time is to write the pages. I would like to know if any effectiveness is lost if I was to write the pages (along with a cup of coffee) when I got to the office in the morning vs writing when you first wake up?

It's always a bit of a rush to get going and get to work, but I would like to know if there is a significant impact of writing when first waking up vs writing when at work before the work day starts. It is actually fairly quiet when I get in and I have my own office in the Company....so just...
Hi

Well this is a lifetime commitment. He clearly says you gotta do thsi first thing in the morning before you even get out of bed. But of course not everyone will be able to do it that way. e.g. I have 2 kids, they wont let me have that quite. so I have to either get very very early before the disaster time or else I have to wait for them to settle down. In any case its better than not doing. I'd say give it a 30 day, if it helps, And I'm sure it will, if you have a quite office to yourself and are able to spend those extra 15-30min, why the hell not. Give it a shot! But he clearly states if you cannot spare this extra time and sacrifice that extra 30min of sleep that you might as well live the way you live before.......

But i think it will work anyway!

cheers

pst: i've even done em sitting on my trading desk, talk about discipline aye!!!
  • #1,157
  • Jun 16, 2011 8:33am Jun 16, 2011 8:33am
Morning pages seem very interesting! I'll tray them out myself as soon as possible! Apart from that here's the last update on my AUD/USD trade:

My second entry signal got triggered yesterday, but due to mixed economic news and the pair failing to take up speed I decided to exit the whole trade with a small profit on both the triggered signals. I might consider reentering on the break of the fractal to the downside if I see enough force in the move.For now I'll stay out on this one.

http://i1190.photobucket.com/albums/...sdupdate02.gif
  • #1,158
  • Jun 17, 2011 2:07pm Jun 17, 2011 2:07pm
Quoting yousafzai
Hi

Well this is a lifetime commitment. He clearly says you gotta do thsi first thing in the morning before you even get out of bed. But of course not everyone will be able to do it that way. e.g. I have 2 kids, they wont let me have that quite. so I have to either get very very early before the disaster time or else I have to wait for them to settle down. In any case its better than not doing. I'd say give it a 30 day, if it helps, And I'm sure it will, if you have a quite office to yourself and are able to spend those extra 15-30min, why the...
LOL! I have the same issue, two monsters that are up the moment I am, regardless of time. So actual first peace and quiet is in the office. I was actually doing at work for a bit, but will take it up again. Oddly enough, even though I was sometimes writing incoherently, it did seem to help. I will try again at work here, and see how things progress, then see if I can move it back to home eventually. I just wanted to see if there would be a material impact by waiting that hour or so from getting up to getting to work and starting to write vs getting up and writing.
  • #1,159
  • Edited 1:31am Jun 23, 2011 1:27am | Edited 1:31am
Hello,

Can you look at this code and tell me where to change the size of the price label on the bars?

I can change color and font but can not figure out which the price labels.

Thanks, C
Attached Image (click to enlarge)
Click to Enlarge Name: label.gif Size: 42 KB
Attached File(s)
File Type: mq4 Fractal with price v1.1.mq4   3 KB | 816 downloads
File Type: ex4 Fractal with price v1.1.ex4   4 KB | 576 downloads
OPPORTUNITY IS NOWHERE
  • #1,160
  • Jun 24, 2011 2:07pm Jun 24, 2011 2:07pm
Quoting Callisto
Hello,

Can you look at this code and tell me where to change the size of the price label on the bars?

I can change color and font but can not figure out which the price labels.

Thanks, C
Hello everyone. Who cares there is a set of indicators for the system profityuniti for MT4
Attached Image (click to enlarge)
Click to Enlarge Name: af.gif Size: 19 KB
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