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  • #221
  • Aug 1, 2014 7:53am Aug 1, 2014 7:53am
[quote=victor_ray;7644696If you set ATR period (5) that mean it only "compute 5 previous candle of 1 hr" [/quote]


You shouldn't be computing the ATR on the 1hr candle but on the daily
  • #222
  • Aug 1, 2014 7:56am Aug 1, 2014 7:56am
Quoting TerryTibbs
why not increase candles for calculating ATR??? why not even use ADR instead? @ spyderman - what broker are you with? your spreads look nice for non-majors.
As mentioned earlier the ADR and ATR should be very close to the same in the Forex markets

I have different brokers for each of those accounts...
Forexbrokerinc & Tradersway
  • #223
  • Aug 1, 2014 1:04pm Aug 1, 2014 1:04pm
Day 4: August 1, 2014
Result: -12.12%

Attached Image (click to enlarge)
Click to Enlarge Name: 8-1-2014 - Closed Trade.png Size: 10 KB

Attached Image (click to enlarge)
Click to Enlarge Name: 8-1-2014 - Log.png Size: 61 KB
  • #224
  • Edited 2:16pm Aug 1, 2014 1:05pm | Edited 2:16pm
Keltner Channel MTF Daily Chart View
Attached Image (click to enlarge)
Click to Enlarge Name: Keltner Channel MTF Daily Chart View.png Size: 89 KB


Keltner Channel MTF 1HR Chart (multi time frame view)
Attached Image (click to enlarge)
Click to Enlarge Name: Keltner Channel MTF 1hr Chart View.png Size: 118 KB


Note1: the setting: MA_PERIOD = 1 <-- The number 1 mean it mirror the actual price without lag... so don't change it.

Note2: You can change ATR period to count how many days bar you want. In the picture it counted 20 previous days.

Note3: the setting: K = 1 <-- mean the top and lower band will be the size of full daily range.
So use: K=1 , if you want a Risk 1: Reward 1

If you want to use the Risk 1: Reward 2
you need to set : K = 0.5
So that way you only risk half of the range which mean you will get SL more often because small stoploss...
Attached File(s)
File Type: ex4 Keltner Channels F1 MTF.ex4   7 KB | 254 downloads
File Type: mq4 Keltner Channels F1 MTF.mq4   5 KB | 298 downloads
  • #225
  • Aug 1, 2014 2:55pm Aug 1, 2014 2:55pm
Whatup,

Normal set up for the day, 1:200, just use yesterdays high for SL
Sell Day 33(Yesterday, closed today):
Open 1.33871
Close 1.33902 Gain: -31 // -3.1 Pips
-3.1 Pips x (0.00001/1.33902)x(867$ x 200) = -40$ +867$ = 827$

We could use ATR for folowing trades then leverage 1:273 because we now use ATR. ATR is 50 of the EUR/USD because we need to get as close as possible to 2:1 we cut it in half so our hard SL is 25 pips. The accordingly leverage is then 1:273. We also use then the TP rule.

Buy Day 33(Today):
Open 1.33944
Close xxxxxxx

SL yesterdays low: 1.33769

Posting soon results of March with TP rule and ATR.
Attached Image (click to enlarge)
Click to Enlarge Name: swaggy14.png Size: 58 KB
  • #226
  • Aug 1, 2014 2:59pm Aug 1, 2014 2:59pm
Quoting Eamonn
Hi Interesting thread, have you thought about using the daily candle bull or bear for direction instead of a random hourly candle, surely the daily would give a more defined trend. Cheers Eamonn.
Randomness should make this work, without is its nothing. We need to get that 50/50 ratio.
  • #227
  • Aug 1, 2014 4:17pm Aug 1, 2014 4:17pm
The results March ATR&TP 2014:
From 3-1-2014 till 4-1-2014
Leverage 1:273
Start with 100$
SL 250 pips or yhigh/ylow
TP Rule

Total gain: 7247 Points // 724,7 Pips
Ending 3993$
Growth: 3993%
Biggest DD: 76%
Biggest Growth: 593%
3 losses in a row
7 wins in a row

1st screenshot normal March
2e screenshot with ATR & TP
Attached Images
Attached File(s)
File Type: docx March ATR, TP.docx   23 KB | 452 downloads
  • #228
  • Aug 1, 2014 8:47pm Aug 1, 2014 8:47pm
@Jysticim ATR shows a huge improvement, at leave for june!

What are you using as rules for TP?
  • #229
  • Aug 1, 2014 11:04pm Aug 1, 2014 11:04pm
It's the weekend reflection time....

Starting next week, I'll be using Murrey Math Level to determine whether I should buy/sell at my usual 5:00 candle.

As for SL and TP I have yet to decide but it's very likely will be Risk 1 : Reward 1

Attached Image (click to enlarge)
Click to Enlarge Name: Murrey Math.png Size: 77 KB


No further explanation is necessary about why I will be using Murrey Math Level... It's obviously to increase win rate.
Attached File(s)
File Type: ex4 Murrey Math Level.ex4   30 KB | 281 downloads
File Type: mq4 Murrey Math Level.mq4   28 KB | 290 downloads
  • #230
  • Aug 2, 2014 1:47am Aug 2, 2014 1:47am
@ victor_ray

Not random...
  • #231
  • Aug 2, 2014 6:56am Aug 2, 2014 6:56am
Quoting Jysticim
@ victor_ray Not random...
Good day to you, Jysticim! Tnx a lot for such interesting idea! Will try it on demo.
I have question about March ATR, TP.docx .
Q about last day
Buy Day 3-29:
Open 1.37839
Close 1.38089 Gain: 250 Pips
250 Pips x (0.00001/1.38089)x(1597$ x 273) = 799$ +1597$ = 2396$
Buy Day 3-29:
Open 1.37872
Close 1.37872 Gain: 0 Pips
0 Pips x (0.00001/1.3872)x(1597$ x 273) = 0$ +1597$ +2396$= 3993$

Did you make BE? If yes, then why? Coz u could earn extra 10.4 pips from second trade that you holding without TP. It was from open 1.37839 to close 1.37942.
  • #232
  • Edited 8:07am Aug 2, 2014 6:59am | Edited 8:07am
@ Tamper

I also saw your 1:500 question. Hard SL for 1:500 is 13.6 Pips

It dropped down 12.5 pips so hit the experimental SL.
  • #233
  • Aug 2, 2014 7:10am Aug 2, 2014 7:10am
Quoting Jysticim
@ Tamper I also saw your 1:500 question. Hard SL for 1:500 is 13.6 Pips It dropped down 12.5 pips so hit SL.
i thought that u have 25 SL. Is that true?
  • #234
  • Aug 2, 2014 7:26am Aug 2, 2014 7:26am
Quoting Jysticim
@ Tamper I also saw your 1:500 question. Hard SL for 1:500 is 13.6 Pips It dropped down 12.5 pips so hit SL.
Sorry for annoying. What SL for leverage 1:200?
  • #235
  • Aug 2, 2014 8:08am Aug 2, 2014 8:08am
@ Tamper

I have a 25 hard SL for EUR/USD accordingly to the ATR. The right leverage is then 1:273.

SL for 1:200 is 34 pips.
  • #236
  • Aug 2, 2014 11:33am Aug 2, 2014 11:33am
Quoting spyderman
{quote} As mentioned earlier the ADR and ATR should be very close to the same in the Forex markets I have different brokers for each of those accounts... Forexbrokerinc & Tradersway
thanks for the reply, to not take the topic off discussion; i'll PM you about the brokers if you dont mind
  • #237
  • Aug 4, 2014 12:47am Aug 4, 2014 12:47am
Day 5: August 4, 2014

Bet Loaded.

Attached Image (click to enlarge)
Click to Enlarge Name: 8-4-2014 - Entry.png Size: 65 KB
  • #238
  • Aug 4, 2014 12:57am Aug 4, 2014 12:57am
for opening a trade in the end of the candle.it means the last minutes of that candle or last 4 seconds for example,or let the candle ends and then open the trade?
regards
fred
  • #239
  • Aug 4, 2014 1:00am Aug 4, 2014 1:00am
Jysticim what period are you using for the ATR? For eg is it like the 21 day ATR or 14 day ATR etc?

Also for March did you check the ATR value everyday and use 1/2 for the hard stop for every trade for e.g if on say 2/3/14 the ATR was 100 the hard stop for the trade would be 50SL, the next day ie 3/3/14 the ATR was 110 so the hard stop for the trade would be 55 etc.

or did you keep the same ATR value for the whole month.
  • #240
  • Aug 4, 2014 1:06am Aug 4, 2014 1:06am
According to the 1st post: the author said "

- Open the trade @ closing level of the candle

So that mean if you pick the 5:00 candle then at 5:00 exactly you make your bet... (but I don't get how can the author see the candle is bullish if the candle have zero pip movement." Or the author just look at teh previous 4:00 candle and determine it's bull/bear.

I'll let Jysticim clear up that confusion.



Usually at near the end around : 5:55-5:58 is when you can "see the shape of the candle bull/bear" and with only 2 min left it's rare the candle will change shape.
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