Quick and Dirty EOD | Page 20 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

EOD trading system 1,037 replies

EOD -1 day hold 213 replies

Quicker and Dirtier EOD 117 replies

Best EOD strategy 5 replies

The meaning of EOD? 3 replies

Attachments: Quick and Dirty EOD
Exit Attachments

Quick and Dirty EOD

  • #381
  • Edited 10:03am Aug 1, 2012 9:21am | Edited 10:03am
Quoting spyderman
I've had a couple ordes hit s/l. G/F and E/G hit their stops for losses.

Guess we can't win on all of them.
As the trend comes to an end this will happen more and losses will be incurred,
losses are a part of doing business, the key of course is to keep your losses small.

The only problem I have with this system is the limiting of the profit potential to 2to1, this buy it's nature limits the possibilities of your achieving some truly remarkable profits and may tend to make trading this a bit more psychologically difficult ..

The entry signals of this method are actually very good and I use this method to add to my positions in my main trading system which is a trend following system.

The exits however need to be addressed in such a way so we can be in a position that does not limit our profits but lets us get the most out of them.

Take a look at the idea in this screenshot...... Letting your profits run.
Yes this is a beautiful trend, the trend dreams are made of.

This and several other pairs have had some VERY nice trends for quite a while now.


.
  • #382
  • Aug 1, 2012 10:37am Aug 1, 2012 10:37am
Quoting tradestar1
The entry signals of this method are actually very good and I use this method to add to my positions in my main trading system which is a trend following system.

.
If is lecit which is your system?
  • #383
  • Aug 1, 2012 11:09am Aug 1, 2012 11:09am
Quoting tradestar1

The exits however need to be addressed in such a way so we can be in a position that does not limit our profits but lets us get the most out of them.

Take a look at the idea in this screenshot...... Letting your profits run.
Yes this is a beautiful trend, the trend dreams are made of.

Yeah I totally agree.
Right now I'm splitting my orders in half. When the trade hits ATRx2 I start to trail 1/2 the position at 30 pips behind price. The other 1/2 I move to BE and let sit.

If price retraces it takes out the 1/2 at 30 pips (that may prove to be too tight...I have another trade manager that will let me trail by % of profit. That way the s/l would widen as the trade gains in profit.

The 1/2 that moves to BE I plan to let sit for the whole trend. When the monthly trend changes then I'll look at all those BE trades and see about closing some or retaining some for long term investment.

Time will tell what adjustments need to be made. Once we get through these dog days of summer we will hopefully see some more trends pickup.
  • #384
  • Aug 1, 2012 11:13am Aug 1, 2012 11:13am
Quoting tradestar1
As the trend comes to an end this will happen more and losses will be incurred,
losses are a part of doing business, the key of course is to keep your losses small.

The only problem I have with this system is the limiting of the profit potential to 2to1, this buy it's nature limits the possibilities of your achieving some truly remarkable profits and may tend to make trading this a bit more psychologically difficult ..

The entry signals of this method are actually very good and I use this method to add to my positions in my main trading system...
Actually, I would say that the system isnt limited to 2:1 Reward/risk (aka sterling ratio)....2:1 is the MINIMUM ratio. That is if the SL is as far out as 100 pips. But many trades in this system wind up having much better Sterling Ratios....for example if your SL point is 50 pips out, but your TP is still 200 pips, then on *that trade* your ratio happens to be 4:1...
  • #385
  • Aug 1, 2012 11:18am Aug 1, 2012 11:18am
Quoting SmartGXL
Actually, I would say that the system isnt limited to 2:1 Reward/risk (aka sterling ratio)....2:1 is the MINIMUM ratio. That is if the SL is as far out as 100 pips. But many trades in this system wind up having much better Sterling Ratios....for example if your SL point is 50 pips out, but your TP is still 200 pips, then on *that trade* your ratio happens to be 4:1...

We've been pretty consistent so far though talking about 2:1. Whether it was using a 100/200 or atr or top/bottom of signal candle for s/l and then 2 times that for t/p.

Of course if you want to stretch a 50 pip s/l trade to 200 t/p then sweet. You might want to lock in some profit at 100 pips though. You have to draw a line somewhere to preserve profit.
  • #386
  • Aug 1, 2012 12:26pm Aug 1, 2012 12:26pm
Quoting SmartGXL
Actually, I would say that the system isnt limited to 2:1 Reward/risk (aka sterling ratio)....2:1 is the MINIMUM ratio. That is if the SL is as far out as 100 pips. But many trades in this system wind up having much better Sterling Ratios....for example if your SL point is 50 pips out, but your TP is still 200 pips, then on *that trade* your ratio happens to be 4:1...
I think you will find 50 pip SL gets hit way too often....... You have to give the market room to breath.
  • #387
  • Aug 1, 2012 12:30pm Aug 1, 2012 12:30pm
Quoting spyderman
We've been pretty consistent so far though talking about 2:1. Whether it was using a 100/200 or atr or top/bottom of signal candle for s/l and then 2 times that for t/p.

Of course if you want to stretch a 50 pip s/l trade to 200 t/p then sweet. You might want to lock in some profit at 100 pips though. You have to draw a line somewhere to preserve profit.
True, but unless I am misunderstanding the original rules... I thought that the rules stated to put the SL at the other end of the bar, but no further away then 100 pips...so sometimes you will have 10, 15, pips etc...all the way to at most, 100 pips? Although I do like the 200 tp/100 sl levels as a default.
  • #388
  • Aug 1, 2012 12:37pm Aug 1, 2012 12:37pm
Quoting tradestar1
As the trend comes to an end this will happen more and losses will be incurred,
losses are a part of doing business, the key of course is to keep your losses small.

The only problem I have with this system is the limiting of the profit potential to 2to1, this buy it's nature limits the possibilities of your achieving some truly remarkable profits and may tend to make trading this a bit more psychologically difficult ..

The entry signals of this method are actually very good and I use this method to add to my positions in my main trading system...
I agree and I am always inclined to let profits run rather than take profits too early. Initially I did think a 2:1 to 4:1 rr would be a good idea but I can see that it won't always be the best move with these long trends.

How about this? Place 2 orders. Take profit on the first order at 200 pips and trail the stop behind the 10 ema on the second order. I'm never that keen on taking partial profits but this could work ok.

Alternatively how about just take every entry and trail all stops behind the 10 ema? Any time another trade is taken I would make sure that all the previous orders were at least at break even.
  • #389
  • Aug 1, 2012 1:10pm Aug 1, 2012 1:10pm
Quoting Hugh Briss
I agree and I am always inclined to let profits run rather than take profits too early. Initially I did think a 2:1 to 4:1 rr would be a good idea but I can see that it won't always be the best move with these long trends.

How about this? Place 2 orders. Take profit on the first order at 200 pips and trail the stop behind the 10 ema on the second order. I'm never that keen on taking partial profits but this could work ok.

Alternatively how about just take every entry and trail all stops behind the 10 ema? Any time another trade is taken...
I think either of those ideas would work.

Since the entries seem to be pretty straight forward and I think just about everyone has that part down I think it is now time to start looking at the exits for this method.... anybody can enter a trade, it's getting out of it with profit or reduced risk that is gonna make or break the system, any system for that mater....
  • #390
  • Aug 1, 2012 1:14pm Aug 1, 2012 1:14pm
Quoting lucariga
If is lecit which is your system?
I'm sorry but I don't understand your question......
  • #391
  • Aug 1, 2012 1:27pm Aug 1, 2012 1:27pm
Quoting tradestar1
I'm sorry but I don't understand your question......
You said u use this system just to add positions to your main system. Which is ur trend follower main system?

Hope to be clear and sorry for my english
  • #392
  • Aug 1, 2012 2:48pm Aug 1, 2012 2:48pm
I won't go into that in this thread because I want this thread to stay on track.
If you would like to PM me I would be happy to help you.
  • #393
  • Aug 1, 2012 3:39pm Aug 1, 2012 3:39pm
Quoting tradestar1
I won't go into that in this thread because I want this thread to stay on track.
If you would like to PM me I would be happy to help you.
Done...
  • #394
  • Aug 1, 2012 4:53pm Aug 1, 2012 4:53pm
Pending long on AUD/USD... Let's see what happens
  • #395
  • Aug 1, 2012 5:00pm Aug 1, 2012 5:00pm
Yes... I have one as well at 1.05395.

I expect some additional retracement before the resumption of the uptrend, I will likely follow the highs down to the bounce..... kind of a trailing buy order....
  • #396
  • Aug 1, 2012 5:09pm Aug 1, 2012 5:09pm
Quoting tradestar1
Yes... I have one as well at 1.05395.

I expect some additional retracement before the resumption of the uptrend, I will likely follow the highs down to the bounce..... kind of a trailing buy order....
Hmmmm.... I don't know. I think i'll stick with the original method and let the pending over today's high.... I wanna really test out this system as for Hugh's initial rules.... Will see
  • #397
  • Aug 2, 2012 7:38am Aug 2, 2012 7:38am
Hey all,

Things have been slow the last couple of days. Very rangy. No new orders hit but have hit a couple more s/l's.

Hit stops on:

g/f
e/g
u/j
e/c
c/f
Lost about 580 pips.
Down about 150 pips on the week but do have another 370 pips of floating profit.

Gotta take the bad with the good.
  • #398
  • Aug 2, 2012 7:40am Aug 2, 2012 7:40am
Quoting spyderman
Hey all,

Things have been slow the last couple of days. Very rangy. No new orders hit but have hit a couple more s/l's.

Hit stops on:

g/f
e/g
u/j
e/c
c/f
Lost about 580 pips.
Down about 150 pips on the week but do have another 370 pips of floating profit.

Gotta take the bad with the good.
That's one thing about trading so many correlated pairs.
  • #399
  • Aug 2, 2012 8:19am Aug 2, 2012 8:19am
Quoting Hugh Briss
That's one thing about trading so many correlated pairs.

That is definitely true. Bigger losers and bigger winners.
  • #400
  • Aug 2, 2012 8:28am Aug 2, 2012 8:28am
Quoting spyderman
That is definitely true. Bigger losers and bigger winners.

I'm still on the fence (but definitely leaning) on the trading correlated pairs.

For the time my thinking is more in line with Graeme's thoughts here:
http://www.forexfactory.com/showthre...ed#post3869388

I have the "luxury" now while my account is small to see how it works out. May have to adjust that in the future.
0 traders viewing now