Pitbull Trader with Position Building | Page 28 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

EA open position on demo, but not open position on real account. Any Comment 7 replies

Close Losing Position, Set Trailing Stop to Winning Position 2 replies

Extreme long term Hedged Carry Trade Position Building journal 15 replies

What is "Building a Position" 4 replies

Long position or short position 6 replies

Attachments: Pitbull Trader with Position Building
Exit Attachments

Pitbull Trader with Position Building

  • #541
  • Jan 23, 2012 10:47pm Jan 23, 2012 10:47pm
Quoting courtneywild
Hi oconnor

Here you go....

Cheers
Courtney, really interesting what time you open your basket and place your trades. Thanks for posting that screenshot.
  • #542
  • Jan 23, 2012 10:59pm Jan 23, 2012 10:59pm
why should I trade the lowest pair in MT4?
I mean if I have 50 + on the lowest and -200 on the highest
wouldn't it be better to short the top pair?
I assume it has to do with trading the pair that moves the most?
but maybe Im not fully getting it
Bulls are stupid Animals!especially when Im short!
  • #543
  • Jan 23, 2012 11:19pm Jan 23, 2012 11:19pm
Quoting roughtrader
why should I trade the lowest pair in MT4?
I mean if I have 50 + on the lowest and -200 on the highest
wouldn't it be better to short the top pair?
I assume it has to do with trading the pair that moves the most?
but maybe Im not fully getting it
this has been pointed out many times, have you not been reading the thread?

also, the pip value for each pair is different, so the $ value displayed may not be an accurate predictor of future reward

but as Senior Trader, you knew that

It takes a lot for me to IGNORE you, but you can try.
  • #544
  • Jan 23, 2012 11:36pm Jan 23, 2012 11:36pm
Quoting Marlin Man
Courtney, really interesting what time you open your basket and place your trades. Thanks for posting that screenshot.
Marlin Man

Basket open around 7am London. trades taken when decent profit on .01 and trend strong... no set time I let the basket settle and it works out around a hour or just over... but only if conditions look OK.

Cheers
CW
  • #545
  • Jan 24, 2012 4:29am Jan 24, 2012 4:29am
Quoting Erebus
this has been pointed out many times, have you not been reading the thread?

also, the pip value for each pair is different, so the $ value displayed may not be an accurate predictor of future reward

but as Senior Trader, you knew that

no excuse me! I guess I haven't read the intire thread of 37
Im too busy doing other more important things like trading
Bulls are stupid Animals!especially when Im short!
  • #546
  • Edited 8:06am Jan 24, 2012 7:14am | Edited 8:06am
We all trade differently, there is no wrong or right way. I'm now at 50% profit in 3 weeks of trading.

I'm not doing anything special, just following the market and making sales, hedging to freeze losses. They will return or be cancelled.

I have shown, that holding positions at BE..will allow less transactions
I have shown holding postions with the weekly Trend gives confidence.
I have shown, not to be too concern about spread charges,
I have shown you can compound your profit by stacking positions
I have shown that TrippleSwap will reduce DD or increase profit
I have shown, that mistakes will happen and can be fixed
You will have to practice, this method.
it's an advance way of trading.


Now I'm managing trades on daily and 4h using the fastest currency at the time. However, I have the added advantage of taking small profit also along the way, by largest positons will keep the DD in +ve this is another way of controlling DD, using long term position with the trend.



Please see Brijon vids latest they are truly a gem. Not because you can double your account in 1 month means that you should expose your business to more risk, set a profit target and take your time to build it.

Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: pitbuljan22week-2.png Size: 341 KB
  • #547
  • Jan 24, 2012 7:54am Jan 24, 2012 7:54am
Quoting chips
We all trade differently, there is no wrong or right way. I'm now at 50% profit in 3 weeks of trading.

I'm not doing anything special, just following the market and making sales, hedging to freeze losses. They will return or be cancelled.

I have shown, that holding positions at BE..will allow less transactions
I have shown holding postions with the weekly Trend gives confidence.
I have shown, not to be too concern about spread charges,
I have shown you can compound your profit by stacking positions
I have shown that TrippleSwap will reduce DD...
Chips

Great work very nice and THANK YOU.
  • #548
  • Jan 24, 2012 10:11am Jan 24, 2012 10:11am
Quoting courtneywild
Bunker

I use the daily only. I open 0.10 trades only if the trend is strong.
Also the profit column is good I find. over 100 and the pair makes good headway. 80 to 100 fair below 80 slow 50 or less possible DD. Not exactly mind you but an indication...
This is how I use it though some might differ of course lol

I've attached a screen shot of exactly how my platform looks.. nice and neat and compact so I can do my day job with it pushed to the side of my screen and its constantly there at a glance.

Hope this helps
CW
Courtney,

Thank you for your reply. You are providing a lot of good information and this is extremely generous of you. A lot of members appreciate your input and I sure am one of them.

I like the idea of using the “profit column” as an indication of the strength of the trend. However, I am not quite sure I understand how you use your range.

>100 = strong
80-100 = fair
<80 = slow
>50 = ….possible reversal ?

So based on your picture (post #539), all profit (per pair) are under 50. Possible reversal ?

I’m sure I am not reading this right. Thank you for shedding some light and for your patience!

Bunker
  • #549
  • Jan 24, 2012 10:48am Jan 24, 2012 10:48am
Bonsoir Courtneywild,

It's very very kind of you to share all your experience with us : thanks a lot !

My questions are :

1) What's the main difference between the "GroupExposure" and the Samir Daily indicator ?

2) Where can we find the Samir indicator ?

Merci pour tout,

God bless you all and happy trading,

Angel
  • #550
  • Jan 24, 2012 10:49am Jan 24, 2012 10:49am
Quoting chips
We all trade differently, there is no wrong or right way. I'm now at 50% profit in 3 weeks of trading.

I'm not doing anything special, just following the market and making sales, hedging to freeze losses. They will return or be cancelled.

I have shown, that holding positions at BE..will allow less transactions
I have shown holding postions with the weekly Trend gives confidence.
I have shown, not to be too concern about spread charges,
I have shown you can compound your profit by stacking positions
I have shown that TrippleSwap will...
The problem is Chip that "some traders" don't understand that there are a million ways to trade....(of course if they worked for a bank and had 100 traders around them they would know that...). As long as you make money there is no right or wrong.....the only thing that matters $$$$$$$ and you have to believe to succeed...
Attached Image
  • #551
  • Jan 24, 2012 11:07am Jan 24, 2012 11:07am
HI angel you can find the indic on page 18 post 263

passe une belle journée


Thank you courtney and chip for all
  • #552
  • Jan 24, 2012 6:33pm Jan 24, 2012 6:33pm
i'm just following the trend Adding positions( stacking) in line with the Trend of the Week.
I will look to diversify the lower +ve postions at the end of the week.
Attached Image (click to enlarge)
Click to Enlarge Name: pitbuljan22week-3.png Size: 298 KB
  • #553
  • Jan 24, 2012 7:03pm Jan 24, 2012 7:03pm
So i've been reading the forum since the beginnig....few times actually

I want to thank Courtney for all the time spent replying to everyone...
Now...

let's say i open the basket at London Opening, I wait 1 hour, and I start trading on the bottom 2 lines (only if they're strong)... how many pips (or dollar value) are you waiting before closing the 0.01 position and opening the 0.04?

Also, can anybody help me understanding the A-samir indicator?

Pm's are greatly appreciated.

Cheers
  • #554
  • Jan 24, 2012 7:41pm Jan 24, 2012 7:41pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting dfortunati
let's say i open the basket at London Opening, I wait 1 hour, and I start trading on the bottom 2 lines (only if they're strong)... how many pips (or dollar value) are you waiting before closing the 0.01 position and opening the 0.04?

Also, can anybody help me understanding the A-samir indicator?

Cheers
I think CW has listed the values to look for - ie 100 on a pair = strong trend pair.

A-samir indi simply reads either the open of the weekly candle or the daily candle (based on broker candle times and nothing to do with GMT or london open etc) - thus we have A-samir Daily and A-samir Weekly indi's

it then uses this value and calcutales the profit/loss of the pairs and ranks them top down shifting them around accordingly using current prices.

pretty much does the same thing as opening the basket of pairs, except we can choose a time to open ours.

hope this helps
  • #555
  • Jan 24, 2012 9:27pm Jan 24, 2012 9:27pm
Quoting dfortunati
So i've been reading the forum since the beginnig....few times actually


I want to thank Courtney for all the time spent replying to everyone...
Now...

let's say i open the basket at London Opening, I wait 1 hour, and I start trading on the bottom 2 lines (only if they're strong)... how many pips (or dollar value) are you waiting before closing the 0.01 position and opening the 0.04?

Also, can anybody help me understanding the A-samir indicator?

Pm's are greatly appreciated.

Cheers
I would like ppl go and check brijon thread at stevehopwoodforex.com.

It's only unitl you see the truth, by demoing using not indicator..except the pitbull screen you will realize that the market
is truly a circle made up of circles and the idea of greed will be removed from you mind and DD will be easier to handle.

Demo or 1 month....I mean it...if you really want to be a trader...not using indicator..just the movement of market prices

Demo for 1 month....do nothing else.except demo...demo

Lets all be clear about one thing. This is not a indicator based method

guys dont rele on indicator, focus on the the method only.

only concept of managing DD will all you to utilize you favorite indicator.

It the concept, use small lots and demo using the concept only.

then add in you favorite indi for confirmation.

Please let stop discussing indicators for now.
  • #556
  • Jan 24, 2012 9:45pm Jan 24, 2012 9:45pm
Quoting dfortunati
let's say i open the basket at London Opening, I wait 1 hour, and I start trading on the bottom 2 lines (only if they're strong)... how many pips (or dollar value) are you waiting before closing the 0.01 position and opening the 0.04?

Also, can anybody help me understanding the A-samir indicator?

Pm's are greatly appreciated.

Cheers
Why would you close the the 0.01 position and then immediately open another position in the same pair & direction for 0.04 ???

Just leave the 0.01 and trade whatever other size suits your risk profile; once that has enough profit to satisfy you, close it; then the 0.01 is still there as your indicator.

brijon says "USE YOUR OWN SYSTEM OR INDICATERS TO TAKE PROFIT"
It takes a lot for me to IGNORE you, but you can try.
  • #557
  • Jan 24, 2012 9:55pm Jan 24, 2012 9:55pm
Quoting chips

This is not a indicator based method ... guys dont rele on indicator, focus on the the method only.
lol... I'll bet you confuse yourself with your own posts. The basket "indicator" is the basis of the method. Otherwise what would you base your decisions on?!? Actually... wait.. don't answer that...

I've read the thread. This is definitely not a balanced basket but having a balanced basket may not have been the intent. Would you please elaborate on why the basket contains the pairs that it does (as opposed to T101 (14)? What do these pairs do differently from the original 14?

Thx
  • #558
  • Jan 24, 2012 11:07pm Jan 24, 2012 11:07pm
Quoting holister
lol... I'll bet you confuse yourself with your own posts. The basket "indicator" is the basis of the method. Otherwise what would you base your decisions on?!? Actually... wait.. don't answer that...

I've read the thread. This is definitely not a balanced basket but having a balanced basket may not have been the intent. Would you please elaborate on why the basket contains the pairs that it does (as opposed to T101 (14)? What do these pairs do differently from the original 14?

Thx
If you read the thread, then you wouldn't be confused, cause i was only addressing ppl asking for indicators to add to the screen.
I said focus on the concept.

Now why do ppl read things and immediately try to find the fault or mistakes or ppls imperfection, understand I'm here to share my findings..so read and stick to the point. I already said...pitbul trader is the only indicator one needs to apply the concept.

now if you want to trade the 14s that's ok with you
the 10 gives traders the minimum spread to use as there advantage in
making sales..using the brokers spread....
T14s gives you the market inefficiencies also...now if you want to use the term balance...then its up to you...ppl percieve reality differently.

The positions on these pairs actually counters the other..its a inenfficient hedge basket...that draws a ref line on these pairs..now follow price.
US Traders are not allowed to hedge on same pair..so notice how the counter you position using the ***/JPY cross.

I bet you can make you own combination if you really wanted to.

At this point in time I dont have to make equal buys and sells, because DD is the focus of my trading.

My positions millipede method allows me to start my postions in the weekly trend direction on these pairs..and trade using the pitbull indicator...
If you are inline with the weekly trend..you dont have to bet that your position will grow...

If you had bought all the pairs at the start of the week..you will notice that the trend is long and you would be in profit... all the way.


Sorry for the long write up...

look Brijon always enforce business concept..account management...and general economic conditions ..intrinsic value of a currency.at the time of purchase... ROE reality..

DEMO and DEMO and DEMO...it's a cool way to trade.
  • #559
  • Jan 24, 2012 11:29pm Jan 24, 2012 11:29pm
Firstly thank you for your “thanks” that’s nice.

 The Samir indicator.
This morning if you look at the AUDJPY SELL 0.01 you will see its not doing well at -$14.45
 The Samir indicator is stating -84.46. The daily chart (not that I look but if you do) will show you the pair is on a strong move UP and this is quickly discernable (for me) by the fact the Samir reads -84.46

 The AUDUSD its +$5.12 and the Samir is at +44.80. If you look at the daily chart its moving up in a overall recent trending up market.

OK so I use the profit column as an indication of the strength of the move. I find it at a glance helpful. Do I trade based on it? No, I find it just helps me decide to open close hedge.

 Re the basket...
 I don’t personally close the 0.01 trades But the original BJ threat states to do so. I leave it running all day... occasionally overnight but not often.

 OK Regarding Chips post #555 page 37 you can see from his results he is a master at this. Truly great results.
 I in the main follow what he says but have added the samir but it’s not part of his system. I use the strength meter also. None of these are recommended by Chips.

 I focus 99% of my time on the pitbull screen and I agree with Chips, this is not an indicator based system. It’s the cycle of profit loss profit.

 Follow Chips, I don’t want to be seen to be over posing or distracting from his method. And I certainly do not want to overcomplicate anything as I am a true believer in KISS and this system is KISS. So over to Chips.
  • #560
  • Jan 25, 2012 12:53am Jan 25, 2012 12:53am
Bonjour à tous,

A big thanks for Chips, Courtneywild and Liberty55.

You are giving us all your attention and sharing your experience........,it's kind of you !

Happy trading all,




P.S : a true believer in a KISS method
1 trader viewing now