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Multi-Lot Multi-Timeframe Position trading

  • #1,461
  • Dec 20, 2016 4:38am Dec 20, 2016 4:38am
Quoting ezcurrency
What are those lines (blue and brown) on the chart? If I added this (for longs): PRICE >( MN1_prevHIGH && W1_prevHIGH && D1_prevHIGH...........+ all TF.........down to M1) It doesn't matter for the rest of the parts you wanted to add (mean, low, and close), as if price was > high, it is higher than mean, low, and close. Perhaps I just don't understand what you want to do. I think adding a trailing SL would be good, such as SAR. Also non lag dot (search for the thread) on 30 min or 1 hr is a good SL. EZ
ezcurrency

Oh sorry ,should have detailed those. Brown is H4 open, Blue is day open.

By the way.....your ea excludes OILUSD, is it possible to add it

To agree with you the coding wilth all those details is daunting.
Thats true trailing is ok. EA with an optin for BE?


I agree with adding this for both short and long
If I added this (for longs):
PRICE >( MN1_prevHIGH && W1_prevHIGH && D1_prevHIGH...........+ all TF.........down to M1)
PRICE >( MN1_prevLOW && W1_prevLOW && D1_prevLOW...........+ all TF.........down to M1)

Very impressive what you have done EZ. I wish Graviton could bless your work because this makes his strategy a lot easier.
  • #1,462
  • Jan 6, 2017 8:17am Jan 6, 2017 8:17am
Greetings and Happy New Year to all. I can't comment on code since I haven't studied it. As far as stops are concerned, I typically either use a fixed stop or a ADR stop. I haven't found that fooling with stops makes many pips. Just use one. Another important point is to enter after a pullback is completing. Sometimes, that provides a better entry. Best success to all. -G
  • #1,463
  • Feb 19, 2017 6:55pm Feb 19, 2017 6:55pm
ezcurrency


I wonder if you will be able to see this. I have been away for sometime(overseas).

First off... the ea (v1.4 Multi_Trend) is so good. But is it possible to make it place say 5 orders per bar. (buy or sell) as per trend direction.
And also to delete buy orders if price suddenly moves downwards and vice versa.

I would be grateful for your advice.
  • #1,464
  • Feb 27, 2017 5:29am Feb 27, 2017 5:29am
Quoting Graviton
Greetings and Happy New Year to all. I can't comment on code since I haven't studied it. As far as stops are concerned, I typically either use a fixed stop or a ADR stop. I haven't found that fooling with stops makes many pips. Just use one. Another important point is to enter after a pullback is completing. Sometimes, that provides a better entry. Best success to all. -G
Hi, Graviton,

Do you have some objective ways to cut losses short before the hard (emergency) stop is hit? Or is it a quite subjective process much based on your experience?

Many thanks!

JFleming
  • #1,465
  • Mar 7, 2017 3:13pm Mar 7, 2017 3:13pm
Quoting JFleming
{quote} Hi, Graviton, Do you have some objective ways to cut losses short before the hard (emergency) stop is hit? Or is it a quite subjective process much based on your experience? Many thanks! JFleming
Hi J, Sure, there are a number of things that I will do. First of all, I will always move the stop loss to break even at some point when well ahead in a trade. Usually, if I get somewhere between 0.5 and 1 X SL ahead, I'll move the SL to BE. That way a good winning trade will never turn into a losing trade. I watch trend across all timeframes and I will sometimes see trend starting to reverse at smaller time frames and moving on up through the higher time frames. If that reversal continues to the mid timeframes, like the H1 or H4, I'll often exit and re-enter if the reversal stops. It will always stop eventually, but that turn back to longer term trend might be next week or next month and I don't need to wait for that. I can always re-enter when I see the retracement ending. I'm also watching prior supports and if I see a reversal breaking prior strong support levels, I can just exit and wait to see if price will return to trend. You can make that as objective as you like with moving average indicators or what ever you prefer. I prefer objective measures since it removes emotional trading from the picture. The vast majority of my decisions are automatic. In a sense, I've made them before I ever enter the trade. To master trading when you are letting your emotions affect your decisions, you have to master your emotions. That requires you to be something like a robot. Very difficult. Just setting SL to Break Even every time you get 0.5 sl ahead requires no decision, so emotions are removed. Maybe it works half the time and fails half the time, but emotions will never trip you up on it. Good question. We can discuss this more if you like. Thanks!
  • #1,466
  • Mar 8, 2017 5:26am Mar 8, 2017 5:26am
Quoting Graviton
{quote} Hi J, Sure, there are a number of things that I will do. First of all, I will always move the stop loss to break even at some point when well ahead in a trade. Usually, if I get somewhere between 0.5 and 1 X SL ahead, I'll move the SL to BE. That way a good winning trade will never turn into a losing trade. I watch trend across all timeframes and I will sometimes see trend starting to reverse at smaller time frames and moving on up through the higher time frames. If that reversal continues to the mid timeframes, like the H1 or H4, I'll often...
Hi, Graviton, thanks very much for your instructive advice. I really like what you said "the vast majority of my decisions are automatic", which is also what I would like to achieve. Your multi-TF multi-lot trend trading strategy is very sound. What I need to do is 1) fully understand your strategy, and 2) develop the right tactics and tools to make it work for me. Having objective measures to cut losses short is one difficulty I'm currently facing. Your advice shows me a right direction that I can explore.

I like simple solutions such as you've suggested. Market is always unpredictable no matter how much analysis one performs. For cutting losses short using auto-generated signals, my current thought is that if I'm in a long trade, and it is still negative when Heiken Ashi chart on H1 (or H4) time frame shows a red bar, I may take it as an exit signal. If I have to be away from computer, I can place a hard stop below the prior bar on H1 (or H4) chart. But I need to spend some time to test these methods.

If I understood you correctly, the important thing is to prepare to re-enter when the price joins the trend again. If we always do this, then whether we exit too early is not a big deal.

Do you pay much attention to trend structure such as ABC correction, five wave structure, etc.?

Another question, you mentioned that "setting SL to Break Even every time you get 0.5 sl ahead ", I guess the 0.5 sl here refers to the emergency hard stop, not the mental stop you use to cut losses short. Am I right?

Thanks again!

JFleming
  • #1,467
  • Mar 8, 2017 6:11am Mar 8, 2017 6:11am
Hi, Graviton,

One more question: When price is in profit but not reached 0.5 SL yet, or after the stop has been moved to breakeven but price has not reached the required spacing, do you have some rules to tighten the stop gradually to secure some profit? Thanks!

JFleming
  • #1,468
  • Mar 24, 2017 1:34pm Mar 24, 2017 1:34pm
Quoting JFleming
Hi, Graviton, One more question: When price is in profit but not reached 0.5 SL yet, or after the stop has been moved to breakeven but price has not reached the required spacing, do you have some rules to tighten the stop gradually to secure some profit? Thanks! JFleming
J, sure. I'd rather secure a little profit, than have a reversal take it all back. I generally look for just a little at first, not to be greedy, like just moving sl a little above entry to take just a little in case of reversal. I like to move the sl (on a long) just below a recent minor reversal as would be indicated on the short to mid range timeframe chart, so just below a support on a long or above a resistance on a short. Those get hit pretty often, but that's ok. I grab a few pips wherever I can and I can always re-enter the trade if it looks good again later. Better to make a few pips than none at all, and infinitely better than losing a few.
  • #1,469
  • Mar 24, 2017 1:44pm Mar 24, 2017 1:44pm
Quoting JFleming
{quote} ...Do you pay much attention to trend structure such as ABC correction, five wave structure, etc.? Another question, you mentioned that "setting SL to Break Even every time you get 0.5 sl ahead ", I guess the 0.5 sl here refers to the emergency hard stop, not the mental stop you use to cut losses short. Am I right? Thanks again! JFleming
J, I don't usually pay much attention to ABC and wave structure, but each person needs to find their own way. Yes, when I referred to setting to BE at 0.5 sl ahead, I was referring to the Emergency Stop. We always want to have one of those, but in manual trading, it shouldn't be hit more than say 1/4 of the time. The rest of the time we should be able to see a trade is stinking the place up before it hits the stop, so no need to waste the extra pips.
  • #1,470
  • Mar 25, 2017 7:53pm Mar 25, 2017 7:53pm
Quoting Graviton
{quote} J, sure. I'd rather secure a little profit, than have a reversal take it all back. I generally look for just a little at first, not to be greedy, like just moving sl a little above entry to take just a little in case of reversal. I like to move the sl (on a long) just below a recent minor reversal as would be indicated on the short to mid range timeframe chart, so just below a support on a long or above a resistance on a short. Those get hit pretty often, but that's ok. I grab a few pips wherever I can and I can always re-enter the trade...
Hi, Graviton,

Thanks a lot for the answers.

You mentioned that with this method, all the risk is on the first entry. Once it becomes a winner, the trade can be made risk free if we manage it carefully. Once we have made some profit from the first lot then add a new lot, should we cut loss short and adjust stop to secure profit gradually for the new lot? The argument seems go both ways. Cutting loss short and securing some pips can reduce risk further. On the other hand, we now risk only unrealized profit, will it be reasonable for us to simply let the new lot run its course? When a trend is underway, the most likely outcome is the new lot will reach its target after some minor retracements. What is your advice?

You also mentioned that with this method, the hardest thing is to keep the pips made. Sure it is. We need to maintain wide stops to let winners run longer. On the other hand, the market can turn around at anytime, therefore we also need to prepare to exit some lots quickly at anytime. How do you balance these two conflicting goals? Do you have some objective rules to handle this?

Thanks again!

JFleming
  • #1,471
  • Mar 25, 2017 8:32pm Mar 25, 2017 8:32pm
Hi Graviton,

When you have accumulated a good size unrealized profit, and your emergency stops are still far behind, what do you do when you go to sleep?

thanks,

JFleming
  • #1,472
  • May 22, 2017 2:46am May 22, 2017 2:46am
Hello Graviton, wanted to say thank you for the wealth of information you have shared in this incredible thread. I also wanted to ask if you still trade this way at the present time or if you've made any significant changes?

Thank you again for sharing so much knowledge.
  • #1,473
  • Jun 26, 2017 10:43pm Jun 26, 2017 10:43pm
Hey Graviton, was wondering if you had anything to share about trading during the summer months? Do you take time off?
  • #1,474
  • Jul 18, 2017 3:44pm Jul 18, 2017 3:44pm
Quoting JFleming
{quote} Hi, Graviton, Thanks a lot for the answers. You mentioned that with this method, all the risk is on the first entry. Once it becomes a winner, the trade can be made risk free if we manage it carefully. Once we have made some profit from the first lot then add a new lot, should we cut loss short and adjust stop to secure profit gradually for the new lot? The argument seems go both ways. Cutting loss short and securing some pips can reduce risk further. On the other hand, we now risk only unrealized profit, will it be reasonable for us to...
These days, I tend to move stops slowly in the direction of my trade. In a perfect world, we would never want to hit a stop, since that will always take us out at a minimum profit point. Out of my last 42 trades, I hit a stop once. All the rest were manually exited when I thought the trend was played out, or a very small loss was incurred. If I think the trend has played out and exit and I'm right, I exit right on the peak profit point. If I'm wrong (about half the time), I'm still exiting with good profits and I can always re-enter and follow the trend some more. Either way, I have a bucket load of pips for my efforts and didn't risk giving them all back on a retrace. If a new trade goes against me quickly, I'm looking to exit it quickly, most often at only 25% of my emergency sl value. If I'm right, I saved a big loss, and if I'm wrong, I just took a small loss, and that is easy to recover from. Once again, if I'm wrong, about half the time, I can always re-enter. Does that help?
  • #1,475
  • Jul 18, 2017 3:51pm Jul 18, 2017 3:51pm
Quoting JFleming
Hi Graviton, When you have accumulated a good size unrealized profit, and your emergency stops are still far behind, what do you do when you go to sleep? thanks, JFleming
Ah sleep. That wonderful elixir for the mind and soul. If you are well ahead and concerned, take your profits and sleep well. You will have many chances to trade, even better chances, but you can never recover lost peace of mind.
  • #1,476
  • Jul 18, 2017 4:14pm Jul 18, 2017 4:14pm
Quoting Fentoozler
Hello Graviton, wanted to say thank you for the wealth of information you have shared in this incredible thread. I also wanted to ask if you still trade this way at the present time or if you've made any significant changes? Thank you again for sharing so much knowledge.
Generally I do, but I'm always trying to improve. I tend to move stops slower and in very small increments these days. I'm not paying as much attention to the weekly and monthly charts since my trades rarely run more than a couple weeks. If I'm ahead on Friday I like to exit with my profits to avoid the possibility of an opening gap loss. That's not a hard rule though, and I carried over all trades from last week to this one. I tend to exit all trades with profits if I think the trend has played out. Remember that all trends must end, otherwise a currency would go to infinity or zero. Knowing that, the trick is to get out as close as possible to the peak of profit. You can always re-enter to trade it some more, but you can't recover profits that have been given back.
  • #1,477
  • Jul 18, 2017 5:34pm Jul 18, 2017 5:34pm
Quoting Fentoozler
Hey Graviton, was wondering if you had anything to share about trading during the summer months? Do you take time off?
I just can't say that for me at least, one time of year is better or worse than another. I take time off around holidays and spend time with family and friends. Volume is often thin during holidays and that can lead to irrational moves in the markets. If I'm tired, sick, confused, upset or have anything else more important to do, I set trading aside, sometimes for a day, sometimes for months. I make lots of adjustments for market volatility and individual pair volatilities as I trade, so seasonal differences don't seem to matter to me much.
  • #1,478
  • Last Post: Jul 19, 2017 9:03pm Jul 19, 2017 9:03pm
I wish I could re-write most of this thread. I've learned a lot over the past few years. I'm surviving in perhaps the most difficult market in the world. I'll try to give back a little if I can find the time by starting a new thread in the Trading Discussion section of this forum. I'll simply call my new thread, Trend Trading. Anyone here who wishes can join me there. Best success!
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