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Pitbull Trader with Position Building

  • #1,021
  • Feb 24, 2012 4:35am Feb 24, 2012 4:35am
Quoting chips
Peace aand Love bro...

let everyone know there is no wrong or right way...it's just your way..once you put the time in using the pitbull indicator and practice ..think practice...

It's the reall deal....

I have DD positions in my live account ..but I just balance the Ratios of Long to shorts..the total goes into profit...with the trend...

so I dont have to clear out 1 loosing position...when the market swings allows me to NET those positons...this way I'm not paying the broker...

Think ..think ..practice...patience...and control greed......
I agree, I am currently up 6.2% and all trades locked in profit with 2.3% closed on stop outs. Thanks Chip nay sayers pay them no mind just unsubscribe to their posts and block them like I do.
  • #1,022
  • Feb 24, 2012 6:20pm Feb 24, 2012 6:20pm
here's Brian game mode Template..
set the square indicator to 48...it uses 48 bars..on the respective time to calculate the hh and ll...Base time TF 4H.

If you have practice the base method.. honestly and you are comfortable managing .dd ..and you are thinking..profit...

Then load the template and use limit orders on the charts...

BUYING Low and Selling High in the 4H TF...
helps control the DD..means that if the orders are filled..you are not buying at the top and selling at the bottom if there is a reversal...not that you cannot profit from that, its just harder because you are not getting in at the best price.

sometimes the trend is so strong it blows through these points too....ehehe

There are no gaurantees...indicators helps to identify specific points...to trade from...but once you are in ...

Do not risk more than you are willing to loose in the forex....

The rest is managing the positions in profit and loss....using patience and trend/momentum...

but the basic pitbull , with practice gives confidence and knowledge about position management and DD control and profit taking..growing the account while in DD...all this is possible because of the swings or cycle..using patience.


cheers
thanks

B...
Attached File(s)
File Type: zip game_mode_all.zip   146 KB | 1,014 downloads
  • #1,023
  • Feb 25, 2012 3:57am Feb 25, 2012 3:57am
Quoting chips
here's Brian game mode Template..
set the square indicator to 48...it uses 48 bars..on the respective time to calculate the hh and ll...Base time TF 4H.

If you have practice the base method.. honestly and you are comfortable managing .dd ..and you are thinking..profit...

Then load the template and use limit orders on the charts...

BUYING Low and Selling High in the 4H TF...
helps control the DD..means that if the orders are filled..you are not buying at the top and selling at the bottom if there is a reversal...not that you cannot profit...
Can you make a printscreen of the template to see how it stays on your metatrader?

Thanks
  • #1,024
  • Feb 25, 2012 6:12am Feb 25, 2012 6:12am
I would love someone to put this system on 1 page explained out in terms that can be understood by anyone. I have trading futures successfully for 5yrs now. i have no experience trading forex. The beginning of the post isn't to bad, i've followed along but can't seem to grasp the concept here. like something is missing.
I understand the basket of trades( 5 buys/ 5 sells)
I am an American trader, so from what i get reading the post and watching brijon's videos, is that Americans can't hedge out of a bad trade.( can't have a eur/usd sell and buy working at the same time)
He mentions there is another way in his first and 2nd videos but, to be honest, I rather have a long slow root canal done than watch another one of those videos.

So my request, can someone please spell this method out ? pictures and explanations of 1 day or 1 weeks trades would be outstanding!
  • #1,025
  • Edited 11:25am Feb 25, 2012 8:52am | Edited 11:25am
Quoting chips
Peace aand Love bro...

let everyone know there is no wrong or right way...it's just your way..once you put the time in using the pitbull indicator and practice ..think practice...

It's the reall deal....

I have DD positions in my live account ..but I just balance the Ratios of Long to shorts..the total goes into profit...with the trend...

so I dont have to clear out 1 loosing position...when the market swings allows me to NET those positons...this way I'm not paying the broker...

Think ..think ..practice...patience...and control greed......
Chips,

I am pasting a part of Brians post from his other thread. I don't understand the difference between a Sales and Stock. Perhaps you can help me understand what he mean.

"if you spend more money than you recieve eventualy you are broke.
90 sales 100 stock.
100 sales 100 stock at best your surviving in this world.

120 coming in to your home 100 you spend you can bank.

200 dollars comming in 100 going out".

Thank you,

Edd
  • #1,026
  • Feb 25, 2012 12:42pm Feb 25, 2012 12:42pm
Quoting Edd Ganuelas
Chips,

I am pasting a part of Brians post from his other thread. I don't understand the difference between a Sales and Stock. Perhaps you can help me understand what he mean.

"if you spend more money than you recieve eventualy you are broke.
90 sales 100 stock.
100 sales 100 stock at best your surviving in this world.

120 coming in to your home 100 you spend you can bank.

[color=green][i]200 dollars comming in 100 going out"....
think business concept..you are running your small corner store..

The stocks are those goods/currencies you bought...once they go into profit you take the profit...making sales...

Now..if you have more stocks and less sales...( less positions going into profit)..you will be running your business at a loss eventually...

so you maintain ..at least 2 : 1 ratio...

Sales to DD...so in reviewing your sales history should be greaer than the current DD... overtime...

one should nt rush to to create profit by adding more stocks or more trades or large lots..
  • #1,027
  • Edited 4:02pm Feb 25, 2012 12:54pm | Edited 4:02pm
Quoting optimusprime
I would love someone to put this system on 1 page explained out in terms that can be understood by anyone. I have trading futures successfully for 5yrs now. i have no experience trading forex. The beginning of the post isn't to bad, i've followed along but can't seem to grasp the concept here. like something is missing.
I understand the basket of trades( 5 buys/ 5 sells)
I am an American trader, so from what i get reading the post and watching brijon's videos, is that Americans can't hedge out of a bad trade.( can't have a eur/usd sell and buy...
This is not so much of a system...its not a 1-2-3..do this and then do that and then expect this.

I know its difficult to understand..why there is so much focus on DD and LossProfitLoss or the Swing cycle..

But it's because of the nature of cycle we are able to use proper position size..with currency strength and patience to control DD and profit.


US brokers dont allow same pair hedging..so Brian shows that by trading correlated currencies you can achieve the same results..

you have to load it on the platform and watch/oberve for a week...do nothing just observe the relationship...

think now...by trading the bottom pair in pofit...all the time....base method..use small positions...Think..

Watch the profit column in mt4 all the time...to see when it goes up...and down...more buys with the trend long and more sells with the trend short...
observe ...

We do it for you with ....
  • #1,028
  • Edited 2:31pm Feb 25, 2012 1:31pm | Edited 2:31pm
Quoting nbelchior
Can you make a printscreen of the template to see how it stays on your metatrader?

Thanks
On the chart..I use the the indicators to help guide the entries..
but the bottom line is DD control...Trading using OPMs and managing postions in DD using hedging, position ratios with the Trend, limit entries at the square and Bosun lines as guide to identify S/R.

other indis are vol of buys and sells on each pair, shi channel and MA and stoch indis.

notice also the brian index indi and divergence against the dollar index...the also helps confirm the Trend of the currency...

As i said before these help guide decisions on the market move, but trading is having confidence managing DD and using the cycle swings,postion sizes to manage the DD while maKing sales( taking profit and increase the bal...and equity).


But practice using the base method...then move up to charts..and other indis to complete and enhance to the concept of mananging DD..

however, use whatever indicator you want to use....anyone can use whatever indicator you choose..the bottom line is managing DD...using lost size, trend..and other techniques...

Understand that ..no indi. shows the true ...movement ..they are just guides...

Demo using ...the base method..to understand the cycle..swings....taking profit..using proper position size to control DD.
Observer the cycle..gives confidence..the 1 loosing postions...does not have to realize..and the market will move back somepoint...

\which means trading back..using position averaging will ...return ...losses to profit..but

SET your Max DD limit ..as your reference point...to manage DD...limit entries..manage exposure..cancel back stocks...
it inevitable in business..that stocks...will go bad...Do you stock taking.. is part of controlling DD..

We all trade differently so use whatever works for you...if it makes money..

Cheers
Attached Image (click to enlarge)
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  • #1,029
  • Edited 8:53pm Feb 25, 2012 4:15pm | Edited 8:53pm
Everyone came here looking for 1-2-3...and they need clear..steps..but the only clear steps is for you to DEMO ....and THINK...I have shown the basics.

I said the same thing over and over and ppl are still asking for more stuff instead of demo...
Only Demo will reveal..the exact nature of the market cycle...and how true hedging works.

I'm using this account with major pairs...


I'm adding postions in line with the weekly...I'm leaving the postions to cycle..those in serious DD I'm hedging my broker allows same pair..

but most important thing..is more buys are on than sells with the Trend..see the size

The DD in +ve even though there is loosing trades but the net yield +ve

I not rushingt add postions...I could have but this is DEMO, Practice, pushing the limits..

learnig every day the cycles, hedging, ratios, postions sizes...Trend and

Trading without candle shapes, just using the pitbull screen to add and allowing the market to grow the postions.

The point is once you dEMO the pitbull honestly...you can apply the method to any pair just managing the DD ..and not rushing to take a loss...

Implementing proper sizing and patience and not entering because there is a loss...Use MAX DD LIMIT..and business Plan and patience..

happy trading..
Attached Image (click to enlarge)
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  • #1,030
  • Feb 26, 2012 11:28pm Feb 26, 2012 11:28pm
Chips, Thanks for starting this thread. i will follow up your thread and i believe there is much more we can improve and we can come out a proper guide line, i mean a strict rules to offer. Let me hang on the feel and try it out first. I do advise those who look on this thread, just make 10 trades, 5(Buy) and 5(Sell), then just sit back and look on the currency moving. I believe from the moving pips, we all can move forward to the next level.

Again, thanks chips.
  • #1,031
  • Feb 27, 2012 4:26am Feb 27, 2012 4:26am
Quoting chips
On the chart..I use the the indicators to help guide the entries..
but the bottom line is DD control...Trading using OPMs and managing postions in DD using hedging, position ratios with the Trend, limit entries at the square and Bosun lines as guide to identify S/R.

other indis are vol of buys and sells on each pair, shi channel and MA and stoch indis.

notice also the brian index indi and divergence against the dollar index...the also helps confirm the Trend of the currency...

As i said before these help guide decisions on the market move,...
Thanks for your help, i think it´s worth to spend a little time practice this system.
  • #1,032
  • Edited 12:57pm Feb 27, 2012 9:11am | Edited 12:57pm
Quoting joelloh
Chips, Thanks for starting this thread. i will follow up your thread and i believe there is much more we can improve and we can come out a proper guide line, i mean a strict rules to offer. Let me hang on the feel and try it out first. I do advise those who look on this thread, just make 10 trades, 5(Buy) and 5(Sell), then just sit back and look on the currency moving. I believe from the moving pips, we all can move forward to the next level.

Again, thanks chips.
I have been saying the only proper guide is you ...and your determination to DEMO and THINK...

You all have the base method...BUT ONLY DEMO will reveal the true nature of the market...It builds confidence...knowing that you have a postion in DD and that you will be able to NET your losses if you develop patience and control of greed.

At least 1 month...with the indicator pairs...and trade the bottom pair in profit .

Apply DD control techiques....for postions in DD... think about more advance techniques and account management and you practice more.
Advance techniques:

Placing limit orders at key points on the charts.
Using Stop orders.
Buy in ABOVE the previous day close and Selling Below
BE even largest growth position to offset DD.
Following the Weekly Trend.
Using the square indi( HH and LL) these are KEY reversal spots.
Postion Averaging to limit cost...( this is used quite frequently in Options trading)

But first think profit ..profit...become a profit seeker...

So what I did is write down the DD control Techniques...and post it on my wall ...
The market cycle is MOST important...but you will not have to confidence to trade...-VE postions and allowing the market to cycle those positions if you are looking for that precision candle..

CYCLE or SWINGS is what drive the market..LOSS PROFIT LOSS...

if you are 100 pips in DD...eventually the market will move back to or close to that postions...effectively reducing the LOSS..from 100pips - Xpips..NOW what do you while the market is moving back...you can position avg to cut the cost of that loosing postion and actually profit ...just by the cycle...

That is why position Sizing is important..dont be greedy...

This is only one example of making use of the cycle...

It is trading using OPMs...Managing other ppls money...by controlling the DD...
You will only give back to the broker if you are greedy..even when you write off bad stocks...to controll DD..its not your money...because you are so profit oriented..making sales all the time...you can write off bad trades and mistakes from the sales revenue...



From here you will be able to trade any pair using the method.. there is no Wrong or right way..becaue its pure descretion and experience gathered by DEMO and THINKING. setting goals and MAX DD limit control...

happy trading...
  • #1,033
  • Feb 28, 2012 6:28am Feb 28, 2012 6:28am
Chips, i hope you could help me more on the question below since im quite blur on it and still undergo and study this pitbull strategy. im bit dumb, but i hope hard work will florish it out. Thanks.

Quoting chips

Apply DD control techiques....for postions in DD... think about more advance techniques and account management and you practice more.
Advance techniques:
Chips, can you elaborate the DD control technique precisely? im still newbie on the topic of DD control. Thanks.

Quoting chips
Buy in ABOVE the previous day close and Selling Below

Chips, you mean by entering long position(BUY) at previous daily close, by entering new trade above the highest candle closing price? and vice versa by entering short(SELL) at previously daily close, by entering new trade below the candle closing price?

Quoting chips
BE even largest growth position to offset DD.
Chips, what is the meaning of BE even largest growth position to offset DD?
Please elaborate more precise of that meaning. Thanks.

Quoting chips
Using the square indi( HH and LL) these are KEY reversal spots.
Postion Averaging to limit cost...( this is used quite frequently in Options trading)
Chips, Square indi? can you point out for me where can i get this indi?

Quoting chips
That is why position Sizing is important..dont be greedy...
Chips, Position sizing?

Quoting chips
From here you will be able to trade any pair using the method..
Chips, any pair? what do you mean by any pair? our own selection of pair on our broker list? or by the 10 correlation pair which we stated early on pitbill strategy?
  • #1,034
  • Feb 28, 2012 7:06am Feb 28, 2012 7:06am
Hello

i like to have 2 or 3 (for 30min, 60min ...) Samir indi on the same Chart

but had no success . One is deleting/ overdrawing the other

Anybody have an idea for this problem?

Thanks
  • #1,035
  • Feb 28, 2012 8:04am Feb 28, 2012 8:04am
i hope you could help me more on the question below since im quite blur on it and still undergo and study this pitbull strategy. im bit dumb, but i hope hard work will florish it out. Thanks.




Chips, can you elaborate the DD control technique precisely? im still newbie on the topic of DD control. Thanks.
There is a list at start of the thread, but think what is DD first




Chips, you mean by entering long position(BUY) at previous daily close, by entering new trade above the highest candle closing price? and vice versa by entering short(SELL) at previously daily close, by entering new trade below the candle closing price?

use the daily closing price as reference, BUY above and SELL below



Chips, what is the meaning of BE even largest growth position to offset DD?
Please elaborate more precise of that meaning. Thanks.

Break even



Chips, Square indi? can you point out for me where can i get this indi?

use with the template posted earlier to identify the HH and LL of the last 48 bars...on the 4H Time Frame..it adjust automatically base on the TF used. price tends to retrace at these critical points on the charts...so an edge can be built around that...using limit orders to sell high and buy low at these points.



Chips, Position sizing?

dont be greedy...by using larger lot sizes


Chips, any pair? what do you mean by any pair? our own selection of pair on our broker list? or by the 10 correlation pair which we stated early on pitbill strategy?


Once you demo you will see the method is universal..and can be tweak anyway you like.


Be patient..most times.the market bounces between 5 - 10 pips..it doesn't moves as fast as most ppl think.
  • #1,036
  • Feb 28, 2012 8:56am Feb 28, 2012 8:56am
Hi Chips just to be more clear, the indic 48 hours: is the sqare in the template??? do you need to adjust some parameters?


thank you
  • #1,037
  • Feb 28, 2012 10:01am Feb 28, 2012 10:01am
Quoting liberty55
Hi Chips just to be more clear, the indic 48 hours: is the sqare in the template??? do you need to adjust some parameters?


thank you
Yes for the square indicator, change the number of bars value to 48, the default is 3.
  • #1,038
  • Mar 1, 2012 5:20pm Mar 1, 2012 5:20pm
What is the square indicator called? I don't see anything named square indicator in the template.

Quoting chips
Yes for the square indicator, change the number of bars value to 48, the default is 3.
  • #1,039
  • Edited 5:12pm Mar 2, 2012 4:43pm | Edited 5:12pm
Hi Chips,

I've been following the thread with interest since the beginning and have been demo'ing with great success for weeks! Thank you very much!

I need to work a bit on managing the trades that go against me. My strategy is currently to:

(1) enter a trade in the opposite direction (Hedge) for the same lot size (as the original trade) to "lock in" the loss and prevent further drawdown. Then,
(2) wait for the market to decide its direction. Then,
(3) enter another trade for the same lot size again, in the new direction (determined in step 2) of the market
(4) once this "mini basket" of trades become profitable as whole I look for the next S&R area to exit them all.

Is this similar to what you do?

Also, what is the purpose of the Hedge trade? Why not just exit the 1st trade for a loss, then begin with step 2 outlined above? Once we enter into a Hedge trade haven't we locked in the loss anyway? Any break-even or gain after that can only be a result of the new trades entered?

I'm not sure I completely understand the concept. Can someone please explain?

Thanks again,
Anthony
  • #1,040
  • Mar 2, 2012 8:51pm Mar 2, 2012 8:51pm
I also cant see why anybody would hedge, because right at that moment you`re taking the loss and your equity will be down isnt it?

without a hedge your margin will be higher.

so what is the advantage of hedging?
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