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Quick and Dirty EOD

  • #461
  • Aug 6, 2012 5:27pm Aug 6, 2012 5:27pm
Quoting spyderman
Okay,



I took the ATR for 220 periods.
You mean 20 period... or 220 is correct? Cause I'm trying to use ATR too but with 20 as value.
  • #462
  • Aug 6, 2012 5:58pm Aug 6, 2012 5:58pm
Quoting lucariga
You mean 20 period... or 220 is correct? Cause I'm trying to use ATR too but with 20 as value.

I'm using 20 atr in ongoing trades. But for my backtest I used 220 to find a good average for the year.
  • #463
  • Aug 6, 2012 8:26pm Aug 6, 2012 8:26pm
To enter on the close of the first pullback candle will pale in comparison as far as the conservative effectiveness of the original entry goes,the one and only thing gained over O.G rules is that it is possible to gain more pips if price continues to go in direction especially in strong trend moves like in this gbp/nzd pair the past few weeks had you taken this most recent trade on the pull back close of 8/5 yesterday you will be up 140 pips instead of waiting on break of low which is still a safe and clean 60 something pips but to whoever thinks whichever method is better just trade it and we'll see which entry has the most juice!
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To Write Sonnets On Soliloquies In A Fortress Of Solitude
  • #464
  • Aug 7, 2012 1:37am Aug 7, 2012 1:37am
Quoting PipLegend
To enter on the close of the first pullback candle will pale in comparison as far as the conservative effectiveness of the original entry goes,the one and only thing gained over O.G rules is that it is possible to gain more pips if price continues to go in direction especially in strong trend moves like in this gbp/nzd pair the past few weeks had you taken this most recent trade on the pull back close of 8/5 yesterday you will be up 140 pips instead of waiting on break of low which is still a safe and clean 60 something pips but to whoever thinks...
I agree, in the long run we will be better trailing the stop behind the 10 ema and when it's a short trend we will break even and when it is a long trend we will bank a fortune.

The only thing that concerns me about this is that we are getting into the realms of a long term trend following system. I trade an optimised (not curve fitted) donchian channel system that is fully automated here...

http://www.forexfactory.com/showthread.php?t=376270

I expect to take maybe 1 or 2 trades a month and my holding period is in the months not days.

How many people have the patience and fortitude to trade this way?

I am happy to continue trading this as I have less time during the day than I used to so if I run two trend following eod systems then that suits me fine.

Spyder, I'll say it again. Never, ever , ever take a partial profit. You never take partial losses do you?

My feelings on things at the moment which needs to be backed up with solid backtesting is that we should use the original entry method and add on every time a valid signal occurs. This will lead to numerous small losses and the occasional huge winner which is the way that long term trend following systems work.

I've attached my ea that trails behind an ma but also closes if the price closes the wrong side. It is coded by FerruFX who is the most awesome coder I have met so you can count on it being robust.
Attached File(s)
File Type: ex4 Trail&CloseOrderSLtoMA_EA_[EdwardMunroe].ex4   7 KB | 309 downloads
  • #465
  • Aug 7, 2012 2:12am Aug 7, 2012 2:12am
Quoting Hugh Briss

Spyder, I'll say it again. Never, ever , ever take a partial profit. You never take partial losses do you?

I've attached my ea that trails behind an ma but also closes if the price closes the wrong side.
I'm not spyder but, following "10MA cross method", sometimes you have to close the trade for a partial loss. In fact, even if the SL is not hit, you have to close the position anyway cause of the cross. Don't you?
  • #466
  • Aug 7, 2012 2:22am Aug 7, 2012 2:22am
Quoting lucariga
I'm not spyder but, following "10MA cross method", sometimes you have to close the trade for a partial loss. In fact, even if the SL is not hit, you have to close the position anyway cause of the cross. Don't you?
Yes, ok, you are right but I still won't be taking any partial profits.
  • #467
  • Aug 7, 2012 2:59am Aug 7, 2012 2:59am
Hey guys, in this situation the resistance is on high of candle "a" but, as for the rules, we have to put the pending order on the high of candle "b".
Is it correct? Do you think is better tu use the high of the pullback candle even if is lower than the high of the previous candle to place the pending order?
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  • #468
  • Aug 7, 2012 3:01am Aug 7, 2012 3:01am
Quoting Hugh Briss
Yes, ok, you are right but I still won't be taking any partial profits.
OK. What about moving SL to BE at a certain point? (i.e. 1xATR)
  • #469
  • Aug 7, 2012 3:14am Aug 7, 2012 3:14am
Quoting lucariga
Hey guys, in this situation the resistance is on high of candle "a" but, as for the rules, we have to put the pending order on the high of candle "b".
Is it correct? Do you think is better tu use the high of the pullback candle even if is lower than the high of the previous candle to place the pending order?
Good point. I think maybe the break of the swing would be best ie the break of the highest price reached recently.
  • #470
  • Aug 7, 2012 3:15am Aug 7, 2012 3:15am
Quoting lucariga
OK. What about moving SL to BE at a certain point? (i.e. 1xATR)
I wouldn't move to break even at an arbitrary level, I would let the trailing stop do it's work.
  • #471
  • Aug 7, 2012 4:05am Aug 7, 2012 4:05am
Quoting Hugh Briss
I wouldn't move to break even at an arbitrary level, I would let the trailing stop do it's work.
The trailing is on "10 Exponential MA close price" right?
  • #472
  • Aug 7, 2012 7:16am Aug 7, 2012 7:16am
Quoting lucariga
Hey guys, in this situation the resistance is on high of candle "a" but, as for the rules, we have to put the pending order on the high of candle "b".
Is it correct? Do you think is better tu use the high of the pullback candle even if is lower than the high of the previous candle to place the pending order?

Man you guys have been busy during the night. Gotta catch up.

Lucariga,

Yeah I always use the high/low, even if it's the candle just to the left of the pullback. Makes more sense to me price action wise.
  • #473
  • Aug 7, 2012 7:22am Aug 7, 2012 7:22am
Quoting Hugh Briss
The only thing that concerns me about this is that we are getting into the realms of a long term trend following system.

Spyder, I'll say it again. Never, ever , ever take a partial profit. You never take partial losses do you?

So Hugh. Do you never scale out of trades. Take a certain amount off the table to lock in profits and let the rest ride to hit a higher mark? Or am I misunderstanding what you mean by "partial profit".

In any case if you want me to discontinue talking about 'holding' on to part of my positions then I will totally respect that and the direction you want for the thread.
  • #474
  • Aug 7, 2012 7:35am Aug 7, 2012 7:35am
Quoting lucariga
The trailing is on "10 Exponential MA close price" right?

Are you shifting it at all. The 10 is awfully close to the 8
  • #475
  • Aug 7, 2012 9:21am Aug 7, 2012 9:21am
Markets are ugly guys. Just hold on through these dog days of August and we should get some more favorable market action.

In the mean time it's a good opportunity to catch our breath and examine these options we've been discussing.
  • #476
  • Aug 7, 2012 9:26am Aug 7, 2012 9:26am
Quoting lucariga
The trailing is on "10 Exponential MA close price" right?
Yes. Although trail 50 pips behind and set it to close the trade if the candle closes the other side of the ma.
  • #477
  • Aug 7, 2012 9:28am Aug 7, 2012 9:28am
Quoting spyderman
So Hugh. Do you never scale out of trades. Take a certain amount off the table to lock in profits and let the rest ride to hit a higher mark? Or am I misunderstanding what you mean by "partial profit".

In any case if you want me to discontinue talking about 'holding' on to part of my positions then I will totally respect that and the direction you want for the thread.
No, you trade it how you feel is best and any discussion is welcome but I never close profitable trades and leave half running. It doesn't suit my view of things but I know a lot of people like doing this.
  • #478
  • Aug 9, 2012 8:05am Aug 9, 2012 8:05am
Hey guys, in your opinion, is there any particular reason to use the "open" for the 8 EMA instead of the more common "close" price?

Is just for information, because this set of MAs works great, but i'd like to know your thoughts
  • #479
  • Aug 9, 2012 8:40am Aug 9, 2012 8:40am
I think I see a faint heartbeat.
  • #480
  • Aug 9, 2012 8:45am Aug 9, 2012 8:45am
Quoting lucariga
Hey guys, in your opinion, is there any particular reason to use the "open" for the 8 EMA instead of the more common "close" price?

Is just for information, because this set of MAs works great, but i'd like to know your thoughts

In my opinion it wouldn't make much difference. If we were entering on the cross, then yes, it would. But the cross is just our signal to start watching for an entry setup.

Would be interesting to backcheck for sure but quite a bit of effort for probably no diff.
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