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.
I'd like to hear about it too
PTT Method (Profitable Trend Trading) in Forex
- #221
- Sep 13, 2011 10:23pm Sep 13, 2011 10:23pm
I'd like to hear about it too
- #224
- Edited Sep 14, 2011 12:14am Sep 13, 2011 11:48pm | Edited Sep 14, 2011 12:14am
Hi Cicak,
Kelvin did lay out a way to exit trades.. as price moves, u just move your stop each day to the previous bar's high if you're short, and to previous bar's low if you're long. From there u just ride the trend as far as u can and let the market stop u out. Hope that was clear..
I attached a pic of my accnt now.. I think the most important thing to keep a close eye on is the max DD and max floating loss. I am comfortable with anything less than 20%, but would like to bring both down to single digits for a larger accnt. I have no choice but to trade 1 10,000 lot as its the minimum my broker trades.
Kelvin did lay out a way to exit trades.. as price moves, u just move your stop each day to the previous bar's high if you're short, and to previous bar's low if you're long. From there u just ride the trend as far as u can and let the market stop u out. Hope that was clear..
I attached a pic of my accnt now.. I think the most important thing to keep a close eye on is the max DD and max floating loss. I am comfortable with anything less than 20%, but would like to bring both down to single digits for a larger accnt. I have no choice but to trade 1 10,000 lot as its the minimum my broker trades.
- #226
- Sep 14, 2011 3:04am Sep 14, 2011 3:04am
- Joined Feb 2009 | Status: Trader | 25,867 Posts
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
Well my AU stopped out. I had set the SL to BE+1 before I went to sleep. I closed out Aj this morning as it as also retracing close to the entry point. I reentered both positions. I am like Alto ..regretting the AU pips I left on the table last night This is still demo but grrr.
And I know someone asked about the exit strategy. Alto has a good explanation. But if you read Kelvin's posts at the beginning he also lays out his exit strategy.
This is still demo but grrr.And I know someone asked about the exit strategy. Alto has a good explanation. But if you read Kelvin's posts at the beginning he also lays out his exit strategy.
- #228
- Sep 14, 2011 6:11am Sep 14, 2011 6:11am
- Joined Feb 2009 | Status: Trader | 25,867 Posts
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
- #231
- Sep 14, 2011 6:29am Sep 14, 2011 6:29am
- Joined Nov 2010 | Status: Snaggin' Some Pips | 2,159 Posts
You may be traded your own rules which is fine, but just so as not to confuse those new to the thread...I don't think these trades are following Kevin's guidelines. The G/U, A/U and A/J are not currently trending in the right direction for those entries.
A/U is in an uptrend so would only be traded long.
A/J & G/U are in a long term range and wouldn't be traded.
Compare these to the G/J right now. (In which I am currently up 310 pips
) Zoom out on the daily and you see the direction. Price (for short) is below MA and bouncing off. Only enter in that direction.
Just an observation...
A/U is in an uptrend so would only be traded long.
A/J & G/U are in a long term range and wouldn't be traded.
Compare these to the G/J right now. (In which I am currently up 310 pips
) Zoom out on the daily and you see the direction. Price (for short) is below MA and bouncing off. Only enter in that direction.Just an observation...
You may be traded your own rules which is fine, but just so as not to confuse those new to the thread...I don't think these trades are following Kevin's guidelines. The G/U, A/U and A/J are not currently trending in the right direction for those entries.
A/U is in an uptrend so would only be traded long.
A/J & G/U are in a long term range and wouldn't be traded.
Compare these to the G/J right now. (In which I am currently up 310 pips
- #234
- Sep 14, 2011 6:39am Sep 14, 2011 6:39am
- Joined Feb 2009 | Status: Trader | 25,867 Posts
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
- #235
- Sep 14, 2011 6:41am Sep 14, 2011 6:41am
- Joined Feb 2009 | Status: Trader | 25,867 Posts
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
- #236
- Sep 14, 2011 6:45am Sep 14, 2011 6:45am
- Joined Nov 2010 | Status: Snaggin' Some Pips | 2,159 Posts
ok i'll have a coffee lol,i was expecting gbp/usd to raise at least 50 pips, i believe it hit 30 of them but i was typing to you and someone else lol. i would've taken 30 easy pips but not to worry i'll get them back tonight. do you adhere to kelvins way and only trade if the 50 ema is broken, just asking as we have a couple of ibs from yesterday happy treading happy days
Remember, trend traders don't predict the market...we follow it.
- #237
- Sep 14, 2011 6:49am Sep 14, 2011 6:49am
- Joined Feb 2009 | Status: Trader | 25,867 Posts
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
- #238
- Sep 14, 2011 6:52am Sep 14, 2011 6:52am
- Joined Nov 2010 | Status: Snaggin' Some Pips | 2,159 Posts
your right spyderman i did predict but i will get the pips back. getting back to kelvin , i took 50 pips today gbp/jpy that was following the ib of yesterday and i've reinvested it lol
Congrats on that. I think G/J is a good PTT trade. I hope it keeps moving down so I can keep compounding. E/J is not bad either but I'd hate to get overexposed
ok i'll have a coffee lol,i was expecting gbp/usd to raise at least 50 pips, i believe it hit 30 of them but i was typing to you and someone else lol. i would've taken 30 easy pips but not to worry i'll get them back tonight. do you adhere to kelvins way and only trade if the 50 ema is broken, just asking as we have a couple of ibs from yesterday happy treading happy days
Cream and sugar ?
I do look at the 50. I also zoom out to get the larger view. I think the daily trend sort of leaps out at you. I know there's money to be made in countertrend trading but I really like to go with the trend.