So how to take profit guys ? How do you close positions ? BIG MOVES
trend catching with NonLagDot indicator
- #184
- Edited 4:07pm Dec 26, 2015 3:05pm | Edited 4:07pm
- | Commercial User | Joined Jun 2009 | 1,676 Posts
{quote} Think it's a 5 period MA of some description.
with acknowledgement to TrendLaboratory.Nominal timeframe defaults to 20
pi = 3.1415926535
shift and i are variables which refer to the timeframe being referenced
MABuffer is the value derived for each bar and is represented by the blue or red dot.
for(shift=limit;shift>=0;shift--)
{
Weight=0; Sum=0; t=0;
for (i=0;i<=Len-1;i++)
{
g = 1.0/(Coeff*t+1);
if (t <= 0.5 ) g = 1;
beta = MathCos(pi*t);
alfa = g * beta;
price[i] = iMA(NULL,0,1,0,MODE_SMA,Price,shift+i);
Sum += alfa*price[i];
Weight += alfa;
if ( t < 1 ) t += 1.0/(Phase-1);
else if ( t < Len-1 ) t += (2*Cycle-1)/(Cycle*Length-1);
}
if (Weight > 0) MABuffer[shift] = (1.0+Deviation/100)*Sum/Weight;
if (Filter>0)
{
if( MathAbs(MABuffer[shift]-MABuffer[shift+1]) < Filter*Point ) MABuffer[shift]=MABuffer[shift+1];
}
}
- #186
- Dec 26, 2015 7:23pm Dec 26, 2015 7:23pm
- | Joined Apr 2014 | Status: Trader | 1,900 Posts
{quote} All that I can say from my own experience is that long term it is much more profitable to have fix target instead of trying to trail and catch big trends. All my backtests and forward tests and real trading has proved it, no matter what system I used. We do not need many pips, we trade for money. So, better increase your lots if you have a proper system, instead of hanging in trades for long time.
another thumbs up here!
- #187
- Dec 27, 2015 1:11am Dec 27, 2015 1:11am
- Joined Jun 2010 | Status: Full time trader | 1,349 Posts
- #188
- Dec 27, 2015 1:16am Dec 27, 2015 1:16am
- Joined Jun 2010 | Status: Full time trader | 1,349 Posts
- #189
- Edited 9:51am Dec 27, 2015 3:45am | Edited 9:51am
- Joined Jun 2009 | Status: Trader | 2,430 Posts
{quote} OK , but if you loose on ranging market, 10, pips 10 pips 10 pips 10 pips = 40 pips , so then if you will find good trend then u enter then you are +30 pips and then what ? You close it? Or you wait for 50 pips to be on profit? What iif the price will go down to -10 pips then you are = - 50 pips So how much take profit ??????
As I said before, I have never traded this particular system. But in general I would suggest to calculate SL and TP from ATR. You cannot use same numbers for all pairs because they have very different volatility. 3xATR has been one of the best choices through different times and systems. What period ATR you use is up to your choice. And, certainly, your TP has to be bigger than SL.
I disagree about setting SL behind last swing high or low. It has been proved for me during years that it does not work. Market will take you out if you are so predictable
- #190
- Edited 4:48am Dec 27, 2015 4:32am | Edited 4:48am
- Joined Nov 2013 | Status: Trader | 1,094 Posts
Here's a concept that uses the same strategy different entry style with profit target. If its uptrend you wait for the signal dot. Then find the lowest low just prior to the signal dot. If its a downtrend you do just the opposite. Instead of waiting for the breakout you can fade into the first pullback after the signal. Here's how to identify.
Once you identify the levels take a fibonacci retracement and pull it from the lowest low to the next highest high (for a long) that develops around the signal dot candle. I like to use the 50% level. Take whatever price on the 50% add 2-4 pips + Pip spread on given pair. Now you put a limit order at that price. You can have two targets the conservative is a -23% fib level and the next one is -62% fib level. Put the stop loss just below the lowest low or highest high depending on the direction. This is the example of an uptrend and downtrend with Entry - TP -SL.
Once you identify the levels take a fibonacci retracement and pull it from the lowest low to the next highest high (for a long) that develops around the signal dot candle. I like to use the 50% level. Take whatever price on the 50% add 2-4 pips + Pip spread on given pair. Now you put a limit order at that price. You can have two targets the conservative is a -23% fib level and the next one is -62% fib level. Put the stop loss just below the lowest low or highest high depending on the direction. This is the example of an uptrend and downtrend with Entry - TP -SL.
- #194
- Dec 27, 2015 11:15pm Dec 27, 2015 11:15pm
- | Membership Revoked | Joined Nov 2015 | 1,524 Posts
We are proud to be most consistent signal provider in entire industry.
- #195
- Edited Dec 28, 2015 12:32am Dec 27, 2015 11:49pm | Edited Dec 28, 2015 12:32am
- | Commercial User | Joined Apr 2013 | 4,366 Posts
- #197
- Dec 28, 2015 12:43am Dec 28, 2015 12:43am
- Joined Jun 2010 | Status: Full time trader | 1,349 Posts
- #198
- Dec 28, 2015 12:44am Dec 28, 2015 12:44am
- Joined Jun 2010 | Status: Full time trader | 1,349 Posts
- #199
- Dec 28, 2015 12:46am Dec 28, 2015 12:46am
- Joined Jun 2010 | Status: Full time trader | 1,349 Posts
- #200
- Dec 28, 2015 12:48am Dec 28, 2015 12:48am
- Joined Jun 2010 | Status: Full time trader | 1,349 Posts