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Pitbull Trader with Position Building

  • #121
  • Jan 5, 2012 10:09pm Jan 5, 2012 10:09pm
Chips, thanks for sticking your head out and posting your take and results on this system.... I have done same for December (with results) over at the original pitbull thread which is now in the recycling bin .....

What I do not understand, never understood on any trading board, why the hecklers have to spread their dislike in such manner that is apparent in the last couple of posts - if somebody takes the time and effort to share, with caps or without (lol), let him / her be - if somebody doesn't like the system, stay away please.

I trade my take on Brian's ideas similar to courtneywild - see my posts here.
  • #122
  • Jan 5, 2012 10:18pm Jan 5, 2012 10:18pm
Quoting aelimian
Please explain how you trade the extreme pairs. For example if the extremes are as follows:
GBPUSD - 200 and USDJPY is + 250
I understand in the direction of the strongest? Do you take the opposite direction of the largest loser?
Thanks
I already asked that question in this post =

http://www.forexfactory.com/showthre...84#post5269084

Well worth while to go back and review the answers given, I know it is boring to read "old" posts and not have everything handed to you directly but sometimes you just have to do the work....
It takes a lot for me to IGNORE you, but you can try.
  • #123
  • Jan 5, 2012 11:58pm Jan 5, 2012 11:58pm
Quoting tebis
Very nice results !!
It looks like you start all the trades in the asia session (In UK it it is night time!)
Is it an advantage to trade early in the morning ?
Hi tebis

I am France based so I open my basket anytime between 6.30am and 7.30am which is 5.30 and 6.30 your time. But I don't trade until at least 30 mins after London open. I could open the basket later but thats when I am "up an at it" so its not for any other reason. hope thats makes sense. The thing is to let the basket settle for at least 1 hour min.
  • #124
  • Jan 6, 2012 12:06am Jan 6, 2012 12:06am
Quoting oconnor365
Great results again bro...I noticed you have 2 g/j' s in your basket...was this just an error?...also which pair did you hedge bud?..

many thanks
Hi oconnor
Yes it was an error if you notice the one trade was opend at time 2.12 and closed at 2.13.

I hedged the EURUSD. You'll see some "sell" for it but in the basket its a buy pair.

As Chip says you don't alsways need to hedge you can just add to profitable trades.
Cheers
  • #125
  • Jan 6, 2012 1:59am Jan 6, 2012 1:59am
Quoting Eamonn
Hi Courtney,

was fascinated by Brian's thread but just couldn't get my head round the videos explanations.

You mention in post 37 that you use a strength meter and a Master chart could you explain what they are and how you use them.

Cheers,

Eamonn.

Sorry Eamonn I missed this.

Attached... monitor all positions one chart. plus news and strength.

Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: pit4.JPG Size: 70 KB
  • #126
  • Edited 3:23am Jan 6, 2012 2:39am | Edited 3:23am
Quoting courtneywild
Sorry Eamonn I missed this.

Attached... monitor all positions one chart. plus news and strength.

Cheers
You could put these indicators?

Update: Thanks, courtneywild!
  • #127
  • Jan 6, 2012 2:54am Jan 6, 2012 2:54am
Quoting RonaldinhoKuban
You could put these indicators?
Here you go - Thank you.

Thanks to all those who created these various indis.
Attached File(s)
File Type: mq4 SonicR FFCal Headlines (Black).mq4   50 KB | 608 downloads
File Type: ex4 SonicR FFCal Headlines (Black).ex4   36 KB | 562 downloads
File Type: mq4 iGroupExposure-v2.mq4   15 KB | 714 downloads
File Type: ex4 Currency Strength Meter.ex4   14 KB | 652 downloads
File Type: ex4 i-Profit tracker v1.1.ex4   20 KB | 718 downloads
  • #128
  • Jan 6, 2012 2:57am Jan 6, 2012 2:57am
Quoting courtneywild
Sorry Eamonn I missed this.

Attached... monitor all positions one chart. plus news and strength.

Cheers
Hi Courtneywild.

1st of all thanx for sticking around. Would you please share the strength indicator as well as the "group indicator/lots counter" ( I don't know what it's called, but it lists all the open positions and counts the buy and sell lots. Blue font.)

Thanx in advance and keep it up.

BTW, I'm staying out of the market today. NFP days are always slow, without much movement up to the news. I had a profitable week and don't want to give anything back.

There you go. you just posted it.
THANK YOU!!
  • #129
  • Jan 6, 2012 3:45am Jan 6, 2012 3:45am
Can I first thank Chips/Courtneywild/PiptheRipper and others for their positive contributions to what I hope will be a worthwhile exercise. Some people will heckle this forum but that I'm afraid is to be expected, the forex market by it's nature breeds frustration. I too tried to follow Brian Johnston's method and watched many of his videos several times. I think I have a rough appreciation of his methods but need to practice them a lot more to ensure success. I read from an earlier entry that Graeme's Millipede building (PIPEasy) was mentioned as a an inspiration for this dialogue, are there any plans to use the pitbull mechanism to determine the entry points for the Millipede which as I understand it was one of the most difficult parts of this approach. Would gratefully appreciate anyone's thoughts on this.

Kind Regards

Des
  • #130
  • Jan 6, 2012 4:17am Jan 6, 2012 4:17am
Quoting Dreamliner
brijon, we understand, but you really should insist this method be placed in the journal section then.


Dreamliner

You have rotated before V1 on this.

If you want clarification PM me.

As for bluesteele, Jeez, is he/she still floating around these forums.

Chips crack on with what your doing, through no fault of your own you have opened up a hornets nest.

M.
  • #131
  • Jan 6, 2012 4:19am Jan 6, 2012 4:19am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting des_b
Can I first thank Chips/Courtneywild/PiptheRipper and others for their positive contributions to what I hope will be a worthwhile exercise. Some people will heckle this forum but that I'm afraid is to be expected, the forex market by it's nature breeds frustration. I too tried to follow Brian Johnston's method and watched many of his videos several times. I think I have a rough appreciation of his methods but need to practice them a lot more to ensure success. I read from an earlier entry that Graeme's Millipede building (PIPEasy) was mentioned...
I don't see why you couldn't use this as millipede entries - the only issue would be how to determine the monthly trend without the use of charts, and the way the pitball is setup we cannot see past the current set of data - or can we.

it would be possible to create an excel doc that you could put the open prices in for the pairs using any date in time you wish - then when we compair the price to todays price we would be able to see the direction of the trend over the long term

then we could open only trades that are in the correct direction - so on days that go against it we don't trade.

or we continue to trade as per Chips discription, but look to hold the with trend trades longer and use the retracement trades as hedge trades to our longer term positions.

Maybe chips has already got this sorted out, always keen to see new ideas that can expand my trading toolbox.
  • #132
  • Edited 9:09am Jan 6, 2012 8:52am | Edited 9:09am
Quoting MPP
I don't see why you couldn't use this as millipede entries - the only issue would be how to determine the monthly trend without the use of charts, and the way the pitball is setup we cannot see past the current set of data - or can we.

it would be possible to create an excel doc that you could put the open prices in for the pairs using any date in time you wish - then when we compair the price to todays price we would be able to see the direction of the trend over the long term

then we could open only trades that are in the correct direction...

I agree..there's nothing wrong with looking at the charts...along as you know the reason...
In business we invest longterm assets that will grow our equity in good econmic times
  • #133
  • Edited 9:22am Jan 6, 2012 9:04am | Edited 9:22am
This week if you notice i'm bzy on the forum, so I trade when i could.
What I want to point out though the Equity to DD ratio with a startup bal on $10000. I could use up more DD by rapidly taking profit but I let the market reduce the DD before..safest way to do it.

I made some mistakes ..but thats the beauty of the Pitbull Trader..controll the DD and Increase sales.

I have increased my profit even though my current DD is -VE.
I have not given anything to the Broker as yet..except some or their money using the method of REDUCING MY EXPOSURE

So its a SELL MARKET TO DAY but nothing is a 100%..just take the profit when its due
Attached Image (click to enlarge)
Click to Enlarge Name: currtrades.png Size: 339 KB
  • #134
  • Edited 9:27am Jan 6, 2012 9:11am | Edited 9:27am
Brijon/Chips. Whoever you are, does not matter. you are a Genius who is willing to share your knowledge with others inspite of being harassed by others. Thanks.
I have been trading this syStem little bit differently. So far it has been a pip machine.

This is how I trade:
I open 10 pairs as mentioned in the first post.
Then click on profit/loss column once. Wait for a while until all the profit pairs( SELL or BUys) settles to the bottom.
"
Then comes various ways of "skinning this cat"
If you dont do anything the whole "indicator" goes into profit but may be only for about 20-25 pips.( not bad though, profit is a profit)

Next method of trading is, look for the TOP 5 pairs that is in a loss and trade them opposite( if it is a buy pair, sell them and vice versa.

Then most often these pairs as they move down goes into profit.
This is because, even if pairs continue going into trend, most often they retest where they started the trend.

Hope I did not confuse every one too much.
Thanks again Chips.
KEEP IT UP WITH YOUR gOOD WORK
  • #135
  • Jan 6, 2012 9:14am Jan 6, 2012 9:14am
Ok thats me for the week.

Funny day with NFP etc but managed to increase equity.

Ended yesterday at $1248.55 profit for Tues Wed Thurs.
Ended today at $1565.92 profit total for week. Not bad and very STRESS free no indis or candles... the joy of it.

Start of week equity balance $5166
End of week equity balaance $6732

My Lesson: When trades go into DD don't panic... they often cycle round.

Here's the U missing from the title! :0)

All trades inc basket closed.

HAve a good weekend.
Attached Image (click to enlarge)
Click to Enlarge Name: pit 5.JPG Size: 180 KB
  • #136
  • Jan 6, 2012 9:20am Jan 6, 2012 9:20am
HERE ARE THE TRADES
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.gif Size: 253 KB
Click to Enlarge Name: 2.gif Size: 266 KB
  • #137
  • Jan 6, 2012 9:50am Jan 6, 2012 9:50am
Quoting ES Trader
Brijon/Chips. Whoever you are, does not matter. you are a Genius who is willing to share your knowledge with others inspite of being harassed by others. Thanks.
I have been trading this syStem little bit differently. So far it has been a pip machine.

This is how I trade:
I open 10 pairs as mentioned in the first post.
Then click on profit/loss column once. Wait for a while until all the profit pairs( SELL or BUys) settles to the bottom.
"
Then comes various ways of "skinning this cat"
If you dont do anything the whole "indicator" goes into...
well done ES....at what time do you set your basket bud?..I know quite a few set it at Frankie opening and wait till London to start trading..

T
  • #138
  • Jan 6, 2012 10:17am Jan 6, 2012 10:17am
I do not open at any particular time. Open ,take profit and reopen another set of trades at any time. I usually try not to leave the "indicator" trades open overnight. I Feel swap makse it not show "true" profit/loss. Just my opinion.
  • #139
  • Jan 6, 2012 12:04pm Jan 6, 2012 12:04pm
Slightly off topic...is there a script that will close all trades at a certain % when the trades hit tp or stop loss ?..I think I've seen one somewhere..
Would appreciate any help

T
  • #140
  • Jan 6, 2012 12:19pm Jan 6, 2012 12:19pm
Here it is
Attached File(s)
File Type: ex4 CloseTrades_After_Account_Loss_TooMuch.ex4   2 KB | 687 downloads
File Type: ex4 CloseTrades_After_Account_Profit_Reached.ex4   2 KB | 689 downloads
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