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The Trader's Academy - by Traders for Traders

  • #241
  • Jan 19, 2016 7:09am Jan 19, 2016 7:09am
Please comment on my first SS trade.
Attached Image (click to enlarge)
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None the wiser!
  • #242
  • Edited 8:36am Jan 19, 2016 8:15am | Edited 8:36am
Quoting FxClown
Please comment on my first SS trade. {image}
Firstly I always enter, at least semi-automatically, using a stop or limit order (sometimes in combination). Likewise on exit, although preferably via the limit!

At first glance it looks as though seahorse would be proud of you, but I'm afraid I'm going to keep on banging the self same drum:

Quote
Are you willing and able to share your objective rules?
  • #243
  • Jan 19, 2016 8:35am Jan 19, 2016 8:35am
Quoting medici
{quote} I suffered through Fooled By Randomness - an experience which solidified the sentiment expressed above... What do you like about the books?
As MB put it
Quote
I didn't necessarily like his tone, but I liked some of his ideas

How about this one?

Quote
The exquisite cadavers shall drink the new wine

Apart from my programmatic pedantry I also have an artistic side to my personality! Schizophrenic, moi?
  • #244
  • Jan 19, 2016 8:38am Jan 19, 2016 8:38am
Quoting FxClown
Please comment on my first SS trade. {image}
Viewed purely locally, of course, it's an obvious breakout trade, so well done I hope you could stand the drawdown for a final reward.

But I would agree with TG: Where are the rules, and where's the backtesting? (See post of mine above with 7 step plan).

To that end, see chart below with a 2ATR channel around the SMA20. I believe Keltner Channels work better for systematic trading, with entries from the MA and exit at/outside the band.

From that perspective, your entry was a bit late, and you had to suffer a drawdown. Stop entries should suffer little or no drawdown, and I believe M5 is a bit too slow for a stop entry strategy. The alternative would be to put limit entries at the SMA20 with, tentatively, 2 ATR stop and 3 ATR limit.

If you want to pursue a stop entry strategy, I'd recommend M1 instead. General idea: Touch of outer band, pullback to MA, stop entry on continuation. Would have given you two juicy trades (see M1 chart below).

And then you have to backtest this.

Hope that helps.
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  • #245
  • Jan 19, 2016 8:50am Jan 19, 2016 8:50am
Quoting FxClown
Please comment on my first SS trade. {image}
Closed. +114. Sorry, got to to pop out. I will study yur feed back and reply later.
None the wiser!
  • #246
  • Jan 19, 2016 8:56am Jan 19, 2016 8:56am
Quoting FxClown
{quote} Closed. +114. Sorry, got to to pop out. I will study yur feed back and reply later.
I think the most appropriate feedback is
  • #247
  • Jan 19, 2016 10:04am Jan 19, 2016 10:04am
Quoting TradingGurus
{quote} As MB put it {quote} How about this one? {quote} Apart from my programmatic pedantry I also have an artistic side to my personality! Schizophrenic, moi?
Let's agree to disagree. I am also a keen poetry reader, Rilke being one of many 'favourites', but Taleb...no
  • #248
  • Jan 19, 2016 11:11am Jan 19, 2016 11:11am
Wow, guys I am very impressed by all the time you spent and all the instructive materials, too much information for a rookie haha please allow me sometime to study process and highlight the main topics out of all these knowledge so that i can step at the same level of discussion as you are advanced traders apprently and of course i am very very thankful and grateful.
Regards and may pips be on your side everybody. CAT MEDICI SEAHORSE and all the rest.
  • #249
  • Jan 19, 2016 11:59am Jan 19, 2016 11:59am
Quoting Price-beast
Wow, guys I am very impressed by all the time you spent and all the instructive materials, too much information for a rookie haha please allow me sometime to study process and highlight the main topics out of all these knowledge so that i can step at the same level of discussion as you are advanced traders apprently and of course i am very very thankful and grateful. Regards and may pips be on your side everybody. CAT MEDICI SEAHORSE and all the rest.
You're welcome beast, the more the merrier, and hope that you get something out of this thread. Feel free to chip in, and questions are always welcome.
  • #250
  • Jan 19, 2016 1:05pm Jan 19, 2016 1:05pm
Quoting medici
{quote} Let's agree to disagree. I am also a keen poetry reader, Rilke being one of many 'favourites', but Taleb...no
The "poem" was quoted by Taleb, but "automatically" generated by a bunch of surrealists. Many quants don't care for all that arty-farty stuff, but evidently you are not one of those!

Have you ever experimented with "random" entries. Drawing an arbitrary line across a chart to enter, then managing the exit come what may. That sort of stuff?
  • #251
  • Jan 19, 2016 5:21pm Jan 19, 2016 5:21pm
Quoting TradingGurus
{quote} The "poem" was quoted by Taleb, but "automatically" generated by a bunch of surrealists. Many quants don't care for all that arty-farty stuff, but evidently you are not one of those!
No I'm not, and I don't think it's arty-farty. Symbol and metaphor, and artistic expression in general, are part of our human language and heritage. Our ancestors have used it to express what was most meaningful to them, and so should we, lest we lose our souls.

Quote
Have you ever experimented with "random" entries. Drawing an arbitrary line across a chart to enter, then managing the exit come what may. That sort of stuff?

Yes, I have, and with a lot of other things too. But I think it would go beyond cat's intention with the thread, and my intention with both forum participation and trading, to go into much detail about such things.

The brief summary is that trend trading using moving averages works, and that there is noise in the market that one needs to learn to live with. Then there's "price action" relating to order flow that one also would benefit from getting a handle on.

Beyond that there are many interesting, but also very specialised, topics, and I think we should discuss them as needs arise. One can get very sophisticated, but for profitable trading I think it's best to keep it simple and intuitive.

And I'd be happy to discuss any quant/algo topics on a separate thread, or in private, as long as it has a trading focus.
  • #252
  • Jan 20, 2016 4:01am Jan 20, 2016 4:01am
Quoting medici
{quote} I think it would go beyond cat's intention with the thread, and my intention with both forum participation and trading, to go into much detail about such things
OK. Returning to Earth from the stratosphere, FxClown seems to have done very well with her/his "first SS trade". The initial PNG showed an entry but no exits. I don't know about you, but I'm still eager to discover the relevant "objective criteria" behind both those aspects of that trade.
  • #253
  • Jan 20, 2016 4:37am Jan 20, 2016 4:37am
Quoting TradingGurus
{quote} OK. Returning to Earth from the stratosphere, FxClown seems to have done very well with her/his "first SS trade". The initial PNG showed an entry but no exits. I don't know about you, but I'm still eager to discover the relevant "objective criteria" behind both those aspects of that trade.
Not sure what you mean, but on M1 a hypothetical rule could be to enter 1 point south of the Heikin-Ashi candle after MA touch, then trail with 3ATR TrendMagic. Would have given roughly his (I'm sure!) result.
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  • #254
  • Jan 20, 2016 5:20am Jan 20, 2016 5:20am
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None the wiser!
  • #255
  • Jan 20, 2016 6:21am Jan 20, 2016 6:21am
Quoting FxClown
{image}
Is it the 1m TF?
  • #256
  • Jan 20, 2016 6:47am Jan 20, 2016 6:47am
Quoting cat
{quote} Is it the 1m TF?
It is.
None the wiser!
  • #257
  • Jan 20, 2016 7:27am Jan 20, 2016 7:27am
Quoting medici
{quote} Not sure what you mean, but on M1 a hypothetical rule could be to enter 1 point south of the Heikin-Ashi candle after MA touch, then trail with 3ATR TrendMagic. Would have given roughly his (I'm sure!) result. {image}
That's exactly what I meant, though it would be preferable (IMHO of course!) if FxClown could reveal his (I expect you're right) methodology rather than let the rest of us speculate.
  • #258
  • Jan 20, 2016 7:28am Jan 20, 2016 7:28am
Quoting FxClown
{quote} It is.
It's looking good for you...hopefully you're still in. I wouldn't be, as I'd have moved my SL to BE, but that's coz I always do once I'm 20 pips in the green. You can see on this 5m chart that the 100sma sent it back down. What's your TP?
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  • #259
  • Jan 20, 2016 7:30am Jan 20, 2016 7:30am
I have moved SL to BE. 15780
Now +25
None the wiser!
  • #260
  • Jan 20, 2016 7:37am Jan 20, 2016 7:37am
Quoting FxClown
I have moved SL to BE. 15780 Now +25
It should get there...rather, I hope it gets there
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