Trade Template

[ironrick]

I was wondering what everyone thought about trying to set up a template for presenting our potential trading ideas.

I was inspired by the layout and logic of both SeventySe7en (here: http://bit.ly/vEntkF ) and....several other posts which I can't seem to find right now (I will edit it in if I can find it).

A template would make sure we were covering all our bases, including: clearly describing the method, what is necessary for the method to work, options within the method, and what items could be changed for testing.

I would love to get some input/crowdsourcing on this and then a post could be made as a sticky in this forum so that we could all use the same template. I will edit post 1 with suggestions.

I was thinking something along these lines -- example answers given as food for thought:


Strategy Name: (Better make it a good one!)

Strategy Style: Trending, Ranging, Scalping, ?? etc

Favored Market Conditions: Trending, Ranging, ??, etc

Entry Signal style: Price action based, Candle based, indicator based, Cross based, always in?

Expected Trading Frequency: Intraday, once a day, once a week, tart

Strategy Expected Moves per trade: expected pip move/capture,

Time Frames: M1 through D1 etc, whichever time frames are used and or compared.

Times to Trade: Daily, Intraday, X Market Open, Particular Hours (try to use GMT)

Pairs To Trade: Works best with, works only with, tested only with etc, full Hanover Range

Money Management/ Risk Management: Lot Size, % risk, any other required MM strategy, alert as to if strategy uses hedging, Martingaling,

Scaling in/out: Yes/No?, can mention max # of units being scaled in/out so that appropriate risk is allowed for above

Order types: Uses market orders, uses pending orders etc

Stops Management: Especially if using MPTM style, emergency stop loss, stop loss, tp, be, be+ X, ts, js etc, Candle based, ATR based etc, max/min distance stop placement

Indicators required plus any custom settings:

Trade conditions:
Trade Entry Long
Trade Exit Long
Trade Entry Short
Trade Exit Long

Max Number of trade conditions:

Between trade conditions: Time between trades, Signal length validity conditions, reverse positions etc

Optional trade filters: Hanover, CBI, AllAve etc

Overall Trade strategy Description: Paragraph form of how it all works

Edit: Specific Options to include: switches, triggers etc [-- Added 11-26]

Why it works: Price action, supply and demand, fundamentals, technicals, support and resistance, market psychology, Whip's chickens etc etc...

What is the "EDGE": Statistical probability, high RR, based on psych levels, fibs etc etc


What do you think? What have I totally missed? Would this be helpful? Please give some feedback...

Rick

[SteveHopwood]

I think this is a smashing idea.

Please work on this and send your eventual template to me in a pm. I will indeed turn it into a sticky here.

Cheers

[ironrick]

I think this is a smashing idea.

Please work on this and send your eventual template to me in a pm. I will indeed turn it into a sticky here.

Cheers

Excellent! I am glad you liked the idea. It appeals to my logical side. I think it will help us be able to categorize different bots and strategies for different times.

I would still love a little more feedback if people think things need to be added -- I thought of one:

Specific Options to include: switches, triggers etc

I will add this to post 1. Also, I have a strategy idea I would like to see implemented so I will use the template as is to present the idea. Nothing like a practical example.

When we get a little more feedback and I think things through a little more I will send you the PM, Steve.
Rick

[ironrick]

An example of the trade template being used for an actual trade strategy can be seen here: http://www.stevehopwoodforex.com/phpBB3 ... f=12&t=212

Continued feedback is appreciated!!

Cheers,

Rick

[ironrick]

George has suggested that the "Basic Info" section include:

Uses Hedging: ____________

Great idea! I will update the template to include this.

Several other updates too... Look for them in post 1 soon.

R