stevehopwoodforex.com
https://www.stevehopwoodforex.com/phpBB3/
Print view

Slope LEVEL -- or DIRECTION?
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=724		 Page 19 of 22
Author:  pacinvest [ Mon Sep 03, 2012 10:27 am ]
Post subject:  Re: Neotraders's 3 -Slope s
Hi guys

Totally agree with you Spotdespot. Slope and direction hold so much information. Neotrader has given us the tools and a promising multiple timeframe approach.

I have set up Neotrader's 3 tf approach for H4/day trading. I got into alot of the trades you did but a bit later as I just was getting things organized at the start of the week. I had only one loss with the USDCAD where I got an entry wrong and held a pretty tight stop. I finished the week more than 800 pips in the good, trading live. This week is off to a good start also. Using MPTM to set Break even and a jumping stop appropriate for the H4/day trading. I also look to set tighter take profits and exits manually when the Neotrader 3-slope signals a clear close.

I am working on rules for entries and exits, but need a few more days before I share here on the forum. I am slowly getting the hang of relating the Neotrader's 3 timeframe slope idea to indicate expected price action. I am finding the 'rules' are different where D slope is between 0 and .4 and then different again from .4 to .8 moving with trend vs against and beyond .8 it is different again. Another way of saying this is that slope and direction are absolutely coupled in terms of price action but that coupling behaves different depending on where you are on the slope curve.

Just so you can get an idea I have attached a screen shot of my EURAUD trade. What you see there is the H4 chart with the three slope history lines, (H4,D1,Wk) with 21 LWMA's. Note I have added two more indicators that assist entries and exits. These are the H1 with 21 LWMA and the H4 TVI indicator, which can be set up with alert, (see TVI v2.) I call these entry trigger indicators. Put this all together and the signals are clear. As I practice with this set up I am gradually starting to get a feel for the relationship of the timeframes and slope and direction. It is all there to see, but it is not a lineal relationship. Slope .2 is a very different beast than slope .8

I'll stop there for now, I will come back hopefully with some sensible rules, building on what Neotrader gaves us early on in this thread. For now just want to say to everyone here wow these indicators are powerful. Congrats to the coders and thanks for sharing. Special thanks to Neotrader for the 3-tf idea and your great indis. Brilliant Neo........
Author:  spotdespot [ Mon Sep 03, 2012 10:47 am ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?
Baluda wrote:Spot,

Impressive basket!

It seems you need a new version of 'iExposure, Tickets' that formats values using a thousand separator. :lol:

Paul
:lol: - and a bit more space in the profit box :lol: :lol:

Let's hope it isn't just a fluke and I can keep using this successfully!

As usual your indicator(s) make everything so much easier - thanks.

Dave.
Author:  spotdespot [ Mon Sep 03, 2012 10:55 am ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?
The_Snowman wrote:
Baluda wrote:Spot,

Impressive basket!

It seems you need a new version of 'iExposure, Tickets' that formats values using a thousand separator. :lol:

Paul
Aw, that's nothing, those Pitbull Brijon traders do that all the time, and they handle drawdown at the same time!

:D :D :D

May I ask, what entry technique was used?

Thanks, John
Hi John,

See page 13 and 16 of this thread for an explanation of what I am doing. Any questions just let me know.

Cheers,
Dave.
Author:  TallCoolOne [ Mon Sep 03, 2012 11:35 am ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?
spotdespot wrote:
The_Snowman wrote:
Baluda wrote:Spot,

Impressive basket!

It seems you need a new version of 'iExposure, Tickets' that formats values using a thousand separator. :lol:

Paul
Aw, that's nothing, those Pitbull Brijon traders do that all the time, and they handle drawdown at the same time!

:D :D :D

May I ask, what entry technique was used?

Thanks, John
Hi John,

See page 13 and 16 of this thread for an explanation of what I am doing. Any questions just let me know.

Cheers,
Dave.

Hi Dave,

Thanks for sharing your method. My basket on my small live account is now up 1750+ pips. I just check my trades on the new day bar and see if I need to close/open any trades. I have never traded a strategy like this, where I had open trades with no DD. I'm still thinking about exit strategies right now, but just letting the winners run for now. TCO
Author:  spotdespot [ Mon Sep 03, 2012 11:47 am ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?
TallCoolOne wrote:

Hi Dave,

Thanks for sharing your method. My basket on my small live account is now up 1750+ pips. I just check my trades on the new day bar and see if I need to close/open any trades. I have never traded a strategy like this, where I had open trades with no DD. I'm still thinking about exit strategies right now, but just letting the winners run for now. TCO
Excellent - great to hear.

Bear in mind that timing has been on our side and drawdown will happen - sometimes the crossover will come and price will continue in the wrong direction for a while before reversing e.g. EU at the cross in June.

Cheers,
Dave.
Author:  TallCoolOne [ Mon Sep 03, 2012 1:41 pm ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?
spotdespot wrote:
TallCoolOne wrote:

Hi Dave,

Thanks for sharing your method. My basket on my small live account is now up 1750+ pips. I just check my trades on the new day bar and see if I need to close/open any trades. I have never traded a strategy like this, where I had open trades with no DD. I'm still thinking about exit strategies right now, but just letting the winners run for now. TCO
Excellent - great to hear.

Bear in mind that timing has been on our side and drawdown will happen - sometimes the crossover will come and price will continue in the wrong direction for a while before reversing e.g. EU at the cross in June.

Hi Dave,

I agree, we are in some good trends that are behaving the way we would want and match the cross. I know we will have some DD and some losses. However, I think when we have winners they will out weight the losses. Thanks again - TCO.

Cheers,
Dave.
Author:  marsie [ Fri Sep 07, 2012 2:25 am ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?
spotdespot wrote:
Mmm - that's messy. I think I will just use what works for me and not worry too much about the workings. Even after reading that I am not entirely sure what is happening with each.

Cheers,
Dave.
Dave, what is your choise now? The Baluda MA our the 21 MA of Empty4? How do you choose the pair what you trade? Do you check daily 28 charts?
Author:  spotdespot [ Fri Sep 07, 2012 9:06 am ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?
marsie wrote:
spotdespot wrote:
Mmm - that's messy. I think I will just use what works for me and not worry too much about the workings. Even after reading that I am not entirely sure what is happening with each.

Cheers,
Dave.
Dave, what is your choise now? The Baluda MA our the 21 MA of Empty4? How do you choose the pair what you trade? Do you check daily 28 charts?
Hi marsie,

I am trying both Baluda + MA + Empty4 MA to compare. So far, even though Baluda's MA is "correct" the strategy seems to fit the Empty4 MA significantly better, but has the visual backtest scaling issue I have mentioned previously. I will keep up with both for a while to make sure.

I have all charts open all the time but really you just need to check once a day and make a note of pairs of interest and check them periodically. For example, at the moment I am learning a great deal as the first significant retracement has happened (or is still happening) since I started this method. As such I know I am looking for a move back in to the trend for the pairs retracing and this is my main focus. Once/if the pairs do move back in to the direction of the trend (trend as defined by the TMA/MA Cross) I will look at H4 charts to re-enter as price crosses signifcant support resistance (historical/pivots/whatever is obvious).

It has been an interesting couple of days as I took some profit at the start of the week, then the floating pip total went well over 8000 pips. Since then the current retracements have taken out some of the trades that had 200 pip trailing stops, taken out some of the more recent trades for a loss and reduced the floating basket to around 3700 pips as of writing this. No doubt had I been running this on a large live account I would be less calm about the situation but the reality is that retracements are inevitable and will always have this effect. What I need to work on is a way to minimize their impact and take the most advantage of them. This may mean only adding on/scaling in to existing trades at significant retracements or perhaps just taking split position shorter term trades at the minor pull backs (so split a position, one with a small-ish TP and let the other run, SL set to BE once the first target is hit). Something I am still thinking about.

GL.

Cheers,
Dave.

Here's the current situation - custom start date coincides with starting this method.

Image
Author:  Baluda [ Fri Sep 07, 2012 10:48 am ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?
spotdespot wrote:I am trying both Baluda + MA + Empty4 MA to compare. So far, even though Baluda's MA is "correct" the strategy seems to fit the Empty4 MA significantly better, but has the visual backtest scaling issue I have mentioned previously. I will keep up with both for a while to make sure.
Dave,

Just let me know if you want some changes to one of my indi's.

Paul
Author:  spotdespot [ Fri Sep 07, 2012 11:17 am ]
Post subject:  Re: Slope LEVEL -- or DIRECTION?
Baluda wrote:
spotdespot wrote:I am trying both Baluda + MA + Empty4 MA to compare. So far, even though Baluda's MA is "correct" the strategy seems to fit the Empty4 MA significantly better, but has the visual backtest scaling issue I have mentioned previously. I will keep up with both for a while to make sure.
Dave,

Just let me know if you want some changes to one of my indi's.

Paul
Thanks Paul. The reality is that your MA is undoubtedly correct and the one plotted by Empty4 isn't but it fits the strategy better so I would be asking you to introduce errors in to the indi, which obviously is ridiculous :shock: Also I don't really understand the discrepancy......despite you explaining. :lol:

In an ideal world I would love to be able to use one slope indi that allows me to have:
  • Multiple slopes
  • Each with an adjustable TMA Period and ATR Period
  • With an "auto" or Fixed timeframe for each slope


I use:
  • standard 20/100 (tmaPeriod/atrPeriod) fixed to D1 on all charts - as I believe your TMASlopeNTF indi uses these periods as default.
  • 14/60 auto timeframe
  • 20/100 auto timeframe
  • 24/150 auto timeframe


I am not really asking for this as I know it is a lot of work and I also suspect that the scaling that occurs may produce different results than I expect anyway....but you did ask :D

I did look at your code myself to see if I could do it but managed to get lost in the calcTmaTrue/calcPrevTrue functions. It looks as if you use a fixed 100 for the iATR call and fixed 20 within the calcPrevTrue function?

Thanks for all your work - I keep saying it but for good reason - the work you and Neo have done is invaluable.

Cheers,
Dave.
All times are UTC Page 19 of 22

Powered by phpBB® Forum Software © phpBB Limited