This is not a Holy Grail (Simple Method) - Page 2
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  1. #11
    Join Date
    Dec 2006
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    Cairo, Egypt
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    Let us redraw this all over.

    Our goal is to protect profit and do not let losses run.

    We will test the following model from now on.

    Entries: when the four indicators line up in one direction on the basis of candle close (usually SAR will signal first, then MAs, adx, rsi)

    Take profit: 10 pips trailing stop.

    Stop loss: when SAR give an opposite signal. This, to limit losses, and allow us to re-enter later if it turned back. (we won't depend on RSI cause sometimes it bounces a lot around 50 area)

    I know this model, we can get many whipsaws in a non trending market, but I have to test it for a week at least on all conditions with same rules, and following every signal to know the net P/L.
    Last edited by topchess; 12-11-2006 at 08:12 PM.

  2. #12
    Join Date
    Dec 2006
    Location
    Estonia
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    The one that was opened yesterday closed +13p.
    I`ll try to trade more agressively today!I fhtere will be a trend!

  3. #13
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    Dec 2006
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    Estonia
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    I wnet against a riseing trend(all 4 indicators showd an uptrend) on the NEw York open, e/u +24 g/u +36

  4. #14
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    Dec 2006
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    Cairo, Egypt
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    This works good in a trending market, so we can't fool ourselves, and should keep testing in a non trending mode. to know what losses we get, and if winners cover losses. I think about eliminatnig the RSI because it bounces so many times around the 50 area causing undecision to trade.

    The goal also is to make it more simple, as possible.

  5. #15
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    Estonia
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    [QUOTE=topchess;967]This works good in a trending market, so we can't fool ourselves, and should keep testing in a non trending mode.QUOTE]

    What`s your idea of a "trending market" i ask this questions lots of people, evryone hase theyr own ode of a trending market? How do you consider a market that trends?

  6. #16
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    Dec 2006
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    Cairo, Egypt
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    I use Trending market to refer to strong movement in one direction (uptrending or downtrending) and to know how much market is trending, use your ADX. If the value of ADX line not (DI+, DI-) is lower than 20, this is a non-trending market. If the value is higher than 40, this is a strong trend occuring.

    Non-trending market (sideways) also named rangebound. The price tends to move within thin channels for long periods of time without breaking either side.
    Last edited by topchess; 12-12-2006 at 11:01 AM.

  7. #17
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    Quote Originally Posted by topchess View Post
    I use Trending market to refer to strong movement in one direction (uptrending or downtrending) and to know how much market is trending, use your ADX. If the value of ADX line not (DI+, DI-) is lower than 20, this is a non-trending market. If the value is higher than 40, this is a strong trend occuring.

    Non-trending market (sideways) also named rangebound. The price tends to move within thin channels for long periods of time without breaking either side.
    Just what i wanted to hear!

  8. #18
    Join Date
    Nov 2006
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    8,766
    Quote Originally Posted by topchess View Post
    This works good in a trending market, so we can't fool ourselves, and should keep testing in a non trending mode. to know what losses we get, and if winners cover losses. I think about eliminatnig the RSI because it bounces so many times around the 50 area causing undecision to trade.The goal also is to make it more simple, as possible.
    Like the great Einstein said, "Make everything as simple as possible, but not simpler."

    You should have a separate system or "plan" to trade ranging versus trending market. One will work like make money hand over fist, while the other will lose money and your face will want to hit your fist.

    The easy part is creating a system for a trending market and another system for a ranging market. The hard part or billion dollar question is knowing when to use which at the appropriate time.

  9. #19
    Join Date
    Dec 2006
    Posts
    40

    Default Free Trading System Development Software

    GO TO:

    VTSystems.com

    Open a demo account and download:

    VTTrader

    This trading software allows you to try out example trading systems (with buy/sell indicators), build and trial your own systems and even get into the software to develop your own indicators, or modify the existing ones.

    In addition to this, you can demo trade your inventions.

    Have fun!

  10. #20
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    Dec 2006
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    Cairo, Egypt
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    It's a very hard question indeed. but I can just consider that market is trending much more than ranging and have a money management plan that keeps winners over losers.

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