Gridtrading from daily open

[Louisetano]

Hi Bruster,

Furthermore to what Gertje pointed out. The "worst grid level in DD in pips", is also missing the pips difference.

But a very nifty tool, thanks alot.

[Bruster400]

I took a quick glance at the spreadsheet and noticed you didn't take into account the distance from the setting of the grid and the first trade for the unhedged part.

I think I have. I've assumed the grid starts at level zero. Price moves to level 1 before it picks up the first trade and so on. The problem with the sheet is that it relies on MATCH and INDEX functions which don't allow you to do >= only >. If you have a distancebetweentrades of 10 and a profit target of 10, the sheet will say that you need to reach level 3 TO EXCEED your profit target. This is correct - at level 2 your profit will be equal to your target and not exceed it. That's why I've included the actual profit at the level it's given you so that you can see how far past your profit point this has gone. What helps is if you have a profit target that doesn't lie on a grid level. If I get chance I'll add an extra line that only shows a value if your profit is bang on a level.

[Gertje]

I took a quick glance at the spreadsheet and noticed you didn't take into account the distance from the setting of the grid and the first trade for the unhedged part.

I think I have. I've assumed the grid starts at level zero. Price moves to level 1 before it picks up the first trade and so on. The problem with the sheet is that it relies on MATCH and INDEX functions which don't allow you to do >= only >. If you have a distancebetweentrades of 10 and a profit target of 10, the sheet will say that you need to reach level 3 TO EXCEED your profit target. This is correct - at level 2 your profit will be equal to your target and not exceed it. That's why I've included the actual profit at the level it's given you so that you can see how far past your profit point this has gone. What helps is if you have a profit target that doesn't lie on a grid level. If I get chance I'll add an extra line that only shows a value if your profit is bang on a level.

When level 4 is reached on a 10pip grid [no hedge], price travelled 50pips and not 40pips like your sheet is telling me.

Not a big issue, I love the sheet.
It makes live easier for me since I did it with a pen and paper till now...

[tonyharmony]

I would just like to take a brief moment to personally thank everyone here for their constructive criticism, and for the support for our common goal as a collective think-tank... Bravo

Cheers

[Bruster400]

When level 4 is reached on a 10pip grid [no hedge], price travelled 50pips and not 40pips like your sheet is telling me.

Lol - finally clicked about the error you've pointed out. I've taken account of the gap in all the tricky calcs and then missed it from the easy one!!! Now corrected in original post.

[Zennor]

Bruster400 absolutely marvellous piece of work, well done and thank you... :hi:

Result for today so far: Global Prime account: Grid set at 10% ADR, TP set at 50% ADR, lot size 0.01 per £1,000 19 closures, 9 still open, DD nothing special. Going to leave this now to run for a few weeks and see how it pans out but so far looking good..

[Gertje]

When level 4 is reached on a 10pip grid [no hedge], price travelled 50pips and not 40pips like your sheet is telling me.

Lol - finally clicked about the error you've pointed out. I've taken account of the gap in all the tricky calcs and then missed it from the easy one!!! Now corrected in original post.

Thanks!!
I added the file to post 1 with a reference to the original post.

[Zennor]

Just throwing this out there for consideration.

Today I have closed a few trades out for a loss. The one below is the AUDCHF. The reason for this is two fold, firstly I have 20 pairs already closed with a handsome profit so have a bit of money to play with.

This pair was not my smallest loser or biggest currently still open but it was a pair that had moved from bottom to top 88 pips, the 20 day ATR is 82 so the high probability is that the major move for today is done, not saying it is or isn't just that the probability is higher for it to reverse as opposed to continue up. With this in mind the trade was closed and I care not a jot what it does now. Because this is not a case of being right or wrong but managing the trades.

AUDCHF.jpg

This one had just exceeding the 20 Day ADR and was closed for a much smaller loss.

AUDUSD.jpg

I still have a few trades open but they are nowhere near their daily ADR so the probability is that they still have room for improvement, either way whilst I can manage a healthy daily profit I am more than willing to close out trades and restart the whole process the next day.

This just one way of managing heavy DD, not everyone's cup of tea but something to consider.

[Gertje]

Hi Zennor,

I agree completely, am doing similar stuff.
First I hesitated, just to see how it would work out but we're simulating real trading so close them out and start over again.

For the ADR I have a nice indi that goes RED when ADR has been reached, I attached it for all to play with.
It's copyright protected, so just the .ex4

.

[Gertje]

Regarding DD/ margin, I plan to drop everything below 100pips ADR.

The AUDCHF Zennor talked about has an ADR of 82, so TP is 40pips but the margin needed is the same for a pairs that is capable of 100pips TP.