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Attachments: PTT Method (Profitable Trend Trading) in Forex
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PTT Method (Profitable Trend Trading) in Forex

  • #201
  • Sep 13, 2011 12:03am Sep 13, 2011 12:03am
NZD/JPY and USD/JPY stopped out overnight. NJ for +10 and UJ -30 pips. I'm trailing stops on the open trades using 15min S/R now.
Attached Image (click to enlarge)
Click to Enlarge Name: Trades 130911.GIF Size: 37 KB
  • #202
  • Edited 3:16pm Sep 13, 2011 1:50am | Edited 3:16pm
Hi all,

I've been thinking about and while I do feel that a close all (GEC) would not be following PTT as Kelvin detailed. On top of that, I was just looking at my open trades and would really hate to cut short what could be great trend trades.

Another option would be to close some of the trades and leave some to grow more. The problem with this option is i would need to do some kind of further analysis or maybe close all the trades that have reached a certain pip level.. like close down those that reached 300+ pips. But can i really predict what the market is going to do? or which pairs will continue to trend or not? I don't think that would be very in line with trend following. right?

So, despite my feeling of missing out or fear of sabotaging myself by interfering with the method, I will be setting a GEC using a simple close EA set at approx. 20% of accnt balance. I think it's good for me psychologically as well as financially to win like this and not stress about each trade turning and hitting SL and I lose many pips. I also feel that this way does follow PTT in that it is attempting to catch trends and follow them to a certain profit. What's everyone's opinion of my actions?

alto:nerd:

update: i had my close all EA set at 20% (of accnt bal), but one of my big trades (ej) stopped out and so i don't think open float would've hit that high of a %. I decided 10% was good enough (actually, more that I could've hoped) and so I had the EA close all at $40. My balance now is $454 from a start of $400 on 8/29.. not a bad ROI so far. Hope it keeps up.
  • #203
  • Sep 13, 2011 4:29am Sep 13, 2011 4:29am
Quoting alto
Hi all,

I've been thinking about and while I do feel that a close all (GEC) would not be following PTT as Kelvin detailed. On top of that, I was just looking at my open trades and would really hate to cut short what could be great trend trades.

Another option would be to close some of the trades and leave some to grow more. The problem with this option is i would need to do some kind of further analysis or maybe close all the trades that have reached a certain pip level.. like close down those that reached 300+ pips. But can i really predict...
I'm with you on this, Alto. I've tweaked Kelvin's exit rules to suit my style, but the essence of his method is intact. For example, the trades i posted taken on the 8th are now closed for +620 pips, which included two 30 pip losing trades. I'm now happy to wait for the next best setups, ideally daily IBs setting up from retests of the daily EMA(50), 2nd best will be re-entry IBs. Good trading to you.
  • #204
  • Sep 13, 2011 6:12am Sep 13, 2011 6:12am
good to hear sidefx, i had the same trades but closed them down a bit earlier than you, i do compound trade though so i hit close to an extra 300 pips, happy trading ,happy days
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #205
  • Sep 13, 2011 6:31am Sep 13, 2011 6:31am
Quoting alto
Hi all,

I've been thinking about and while I do feel that a close all (GEC) would not be following PTT as Kelvin detailed. On top of that, I was just looking at my open trades and would really hate to cut short what could be great trend trades.

Another option would be to close some of the trades and leave some to grow more. The problem with this option is i would need to do some kind of further analysis or maybe close all the trades that have reached a certain pip level.. like close down those that reached 300+ pips. But can i really predict...
Hi Alto,

We'll never get the maximum pips in a run so i think taking a profit is a good idea. You might want to look into Steve Hopwood's trade manager. It has a GEC that you can set by pips or %. But it also has a partial close feature. It's been a while since I used it but you can set a jumping stop which moves your SL every "x" number of pips. And you can close a % ofyour position after an increase of pips e.g. price goes up 100 pips then you close 1/3 etc etc

Hope this helps.

Sandy
  • #206
  • Sep 13, 2011 7:10am Sep 13, 2011 7:10am
Quoting billytt
good to hear sidefx, i had the same trades but closed them down a bit earlier than you, i do compound trade though so i hit close to an extra 300 pips, happy trading ,happy days

Billy can you explain how you compound trade? Do you double your lot size when you win and reduce your lot size when you lose? Or are you scaling in multiple orders on each IB? Thanks very much.

Sandy
  • #207
  • Sep 13, 2011 7:13am Sep 13, 2011 7:13am
Quoting sidefx
I'm with you on this, Alto. I've tweaked Kelvin's exit rules to suit my style, but the essence of his method is intact. For example, the trades i posted taken on the 8th are now closed for +620 pips, which included two 30 pip losing trades. I'm now happy to wait for the next best setups, ideally daily IBs setting up from retests of the daily EMA(50), 2nd best will be re-entry IBs. Good trading to you.
sidefx,

Great numbers. I am still playing with this system and have not taken a trade (demo or live on it yet).

I did notice that bounces around the 500 series numbers (1.40, 1.45 etc as per pair) tend to be good entries.

The 500 series I use as a strong psyche level and any indecision (IB) around that level does seem to move strongly once the market decides which way it is going.
  • #208
  • Sep 13, 2011 7:33am Sep 13, 2011 7:33am
Quoting alto
Hi all,

I've been thinking about and while I do feel that a close all (GEC) would not be following PTT as Kelvin detailed. On top of that, I was just looking at my open trades and would really hate to cut short what could be great trend trades.

Another option would be to close some of the trades and leave some to grow more. The problem with this option is i would need to do some kind of further analysis or maybe close all the trades that have reached a certain pip level.. like close down those that reached 300+ pips. But can i really predict what...
If you're set on closing a trade to collect some pips, why not just move your stop up pretty close. If you get any retracement you'll be no worse off then if you had closed. If it moves in your favor keep trailing it and you'll pat yourself on the back.
  • #209
  • Sep 13, 2011 7:35am Sep 13, 2011 7:35am
Quoting flyer415
sidefx,

Great numbers. I am still playing with this system and have not taken a trade (demo or live on it yet).

I did notice that bounces around the 500 series numbers (1.40, 1.45 etc as per pair) tend to be good entries.

The 500 series I use as a strong psyche level and any indecision (IB) around that level does seem to move strongly once the market decides which way it is going.
Good points!, flyer415. Thanks.
  • #210
  • Sep 13, 2011 7:39am Sep 13, 2011 7:39am
Quoting nubchai
Hi Alto,

We'll never get the maximum pips in a run so i think taking a profit is a good idea. You might want to look into Steve Hopwood's trade manager. It has a GEC that you can set by pips or %. But it also has a partial close feature. It's been a while since I used it but you can set a jumping stop which moves your SL every "x" number of pips. And you can close a % ofyour position after an increase of pips e.g. price goes up 100 pips then you close 1/3 etc etc

Hope this helps.

Sandy
I agree that pips will always be left on the table but that is OK.

I understood that kevin's original idea was to trail by 1 candle High/low for sell/buy. So in his own way he was not looking to capture everything but if he got a runner then the 1 candle trail kept him in.
  • #211
  • Sep 13, 2011 7:48am Sep 13, 2011 7:48am
Quoting sidefx
Good points!, flyer415. Thanks.

here is a modded grid overlay that I use to see the 500 series easily. I originally had it for 4 digit and I never changed it for 5 digit broker so use 5000 as Hgrid Pips and 200 for PipWidth.

This will create a 20 pip buffer (+-20 pips) around the 500 series. That seems to be the width for most stop hunting exercises for brokers. If it pops through that grid then an entry is pretty easy.
Attached Image (click to enlarge)
Click to Enlarge Name: 500_series_grid.jpg Size: 89 KB
Attached File(s)
File Type: ex4 Grid blocks.ex4   8 KB | 548 downloads
  • #212
  • Sep 13, 2011 8:10am Sep 13, 2011 8:10am
Quoting flyer415
here is a modded grid overlay that I use to see the 500 series easily. I originally had it for 4 digit and I never changed it for 5 digit broker so use 5000 as Hgrid Pips and 200 for PipWidth.

This will create a 20 pip buffer (+-20 pips) around the 500 series. That seems to be the width for most stop hunting exercises for brokers. If it pops through that grid then an entry is pretty easy.
Thanks for the indi.
  • #213
  • Sep 13, 2011 9:01am Sep 13, 2011 9:01am
Hello Nubchai, i answered your question by private message. happy trading happy days
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #214
  • Sep 13, 2011 11:24am Sep 13, 2011 11:24am
Quoting billytt
Hello Nubchai, i answered your question by private message. happy trading happy days

Thank you Billy
  • #215
  • Edited 6:08pm Sep 13, 2011 5:46pm | Edited 6:08pm
Quoting billytt
i do compound trade though so i hit close to an extra 300 pips, happy trading ,happy days
what do u mean by 'compound'? sounds good to me.. extra pips are all good!

spyderman, thanks for the good idea about moving SL close vs just closing all. I think I want to experiment with the basket close (GEC), not thinking so much of each pair as a make it or break it trade. That way u could have 1 or 2 really good strong trend trades going and 1 or 2 not so strong trades that might be stalling or something, and still u would get the overall profit u want. I'm sure it all evens out.. i mean if u close each trade seperately or u do a close all. It's all about the accnt growth, right? Mostly I feel that I hate seeing a nice float one minute, and then see that shrink to half as much 3 hours later. Psychologically, I want to just close all, let my accnt take another 'step' forward, and move on with some new trades.

I was thinking like this.. if u consider that u are simply setting a bunch of traps (pending orders) like u are hunting or fishing, and then periodically check those traps for any catches. Wouldn't u take all the winnings away from each trap, no matter how big or small, and just reset them? Yes, i realize trading is not the same as bear trapping or whatever, but i think the strategy could be used.

alto
  • #216
  • Sep 13, 2011 5:59pm Sep 13, 2011 5:59pm
morning Alto, compounding is using your winnings to increase your pip stake. T o keep it simple. When people double up when they lose also called martingale until they win, (crazy way) well we double up when we win,,,, simple . happy trading happy days
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #217
  • Sep 13, 2011 6:19pm Sep 13, 2011 6:19pm
ok, i get it now. Thanks billytt for explaining it. Funny thing.. I was just looking at this MM/compounding software where u enter in you max risk, SL, etc. and then u put in how many pips u won or lost on your last trade. then is will calculate, using some algorithm, what lotsize u should use on your next trade. I think that would work real good on a higher winning % trade system because u could really benefit from such actions, but with PTT the wins are more rare and so if u increase your lotsize after a win, then wouldn't u probably get a loss on the next trade and so that increase in lotsize would hurt u more?
  • #218
  • Sep 13, 2011 6:36pm Sep 13, 2011 6:36pm
i guess your right, i only compound when i chase trends and i very rarely lose i actually look at it like a game. My main trading way though is really freaky as i dont use any indicators only time.
ps Kelvins thread is good just dont try to dissect ittoo much and keep it simple, happy trading happy days
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #219
  • Sep 13, 2011 8:46pm Sep 13, 2011 8:46pm
I use the caterpillar EA for compounding a winning trend. Adds up nicely.
You can search FF to find a thread explaining it. Here's the ea.

Attached File(s)
File Type: ex4 Caterpillar .ex4   20 KB | 433 downloads
File Type: mq4 Caterpillar .mq4   29 KB | 598 downloads
  • #220
  • Sep 13, 2011 8:51pm Sep 13, 2011 8:51pm
ok billytt, thanks for that further info. Your trading method sounds very interesting. Maybe u will tell us more about it, or start a thread on FF and point us to it. and I will try to not mutate PTT too much.
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