PTT Method (Profitable Trend Trading) in Forex

Hey guys, today was a fantastic day for this strategy....I think we all tweek the rules a bit here and there and to stick to the fundamentals of this thread I don't want to go in to this too much but I found that instead of putting on a 30pip stop loss I can usually find a swing low on a 15min chart which is around 20 or 30 pips so I prefer to use this as my stop loss. Also, has anyone else been frurstrated with IB breakouts shooting up a hundred pips and then waking up the next day to see that the trade has gone negative? I think its better to hide the stop loss behind a 4 hour swing low. If you think about it, there are only 5 X 4Hour candles in a day, so your stop loss may still be almost the same as if you trailed the previous days low. Just my 2 pips worth...

It really does seem though that IBs do tend to shoot off a lot of pips when they break...especially if they break mutiple highs and after testing support areas.

Here's what I got going right now.. go PTT go!

have you new trades? from today?

no. nothing new for today. I will take a look tomorrow before market close and see if there are any pendings I should put.. cuz the market often gaps in the direction of a developing trend, so it's good for us PTTers.

I think there will be a few pendings to set up today, after all those big moves yesterday.

tell us everybody wich pairs, make pending orders!

Just follow the rules from page 1. What I meant was that there is very likely to be inside bars at the close of today, as the bars on quite a few pairs were large yesterday. After that it's up to you to decide which pairs to trade and what direction, not forgetting the weekend and pairs will gap.

wow. what was with jpy today? Whatever happened, I had a pending above ej and so made some pips there. My uj trade also made a little profit, but I forgot to stick a pending in front of gj so missed out on potential profit there.. oh well. Still 1 more day for this month so let's see how it ends up. I guess we shouldn't track results by month since it's a meaningless measure of PTT's long-term performance, but what else can we do, right?

I would be happy with a 1-year or more positive result, but I do think that I would prefer a nice monthly ROI compared to maybe a higher annual ROI, but with higher DD or having mostly losing months. Did that make any sense? For example, I would be more than happy to get something like 2-4% monthly ROI with less than 10% DD, so ending the year at 24-48% (way better than banks or bonds or something like that), compared to getting a much higher 100%+ annual ROI, but with 20%+ DD and many flat or losing months.

Wow ! Woke up this morning to a nice little profit of +200 pips on Aud/Jpy, Don't know what happened, but it was a nice surprise.

Hi all

Eur/Aud has triggered. I've already taken off part of the trade to cover the 30 pip risk and the rest is now at +50 pips stop at BE +10.

Hey guys, Oanda is showing a lot of IBs on the yen pairs today..anyone I else looking at these? I didn't see the EURAUD set up, good spot!

No, I'm not seeing any IB's today. (on Alpari). The Eur/Aud trade hit my BE, but I made +40 pips on it. +240 pips yesterday, not bad for a Monday.

Hey all,

Well, so far.. not so bad, not so good either.. ended the month with a balance of $358.73. I did take out $40 at the start of the month, so u could say it is approx. even to my start of $400 on 8/29. How bout u guys? what have been your gains since starting PTT?

alto

This system is good but you need to use it with another system to get the best out of it. I use it to get back in a trend when I miss the start of it.

It works extremely well with the CICR system.

Hi All,

well, looks like PTT is a good idea, but needs some refinement. I had a decent trade going with a buy on u/chf, but was waiting for the next D1 candle so I could move my stop.. never happened.. price retraced and hit the original SL. I should've put a TS on that one.. oh well,

Here's what I think.. PTT is a good start at trend following, but it lacks a good exit method. From what I read on trend following, there is usually a solid move (like a new 10-day high or low) and then the trade continues until a similiar stop signal is given. So the 1-day jumping stop doesn't really work here..

anyone found a good exit method to use?

Hi all,
Amazing thread. I know you trade off daily charts, however i like to trade off 4 hour and 1 hour charts. what size stop loss would you recomend trading your strategy off these charts?

Thank you,

This week has been aweful for this method? Is it just me? I think with all the fundamental news coming out it may be better just to sit back and observe this week.

well,

I would go further and say that all of last month, make that the last 5 weeks, has not been very good for PTT. Finally, i got a good trade and caught eu on the way down.. picked up 116 pips. I did add a 50 pip TS that took me out so we'll see if that was a good thing or should I have waited to move my stop the real PTT way. We'll see.

usdeurogold, the original PTT stop is supposed to be 30 pips, regardless of the TF traded. U might experiment with this and find one u like better for H1/H4 trading, but I think this SL works for any trades.

alto

Still pretty quiet. It's all this Eurozone bad news, hopefully It'll calm down soon and the markets can return to some sort of normality. It's hard for PTT at the moment.

I'm in an Aud/Cad trade. Currently up around 30 pips. I took this just as price dipped below the 50ema. Moving very slowly though.