Hi Milanese,
“Mob” did ask me for an introduction.
Hi Mob,
First thanks for the ATR-indi, welcome.
For further comments, please refer also to the APTM-thread.
More functionalities will blow up every EA and to find the right adjustments, which will match the personal requirements will increase and need a lot of testing. But anyway, not only newcomer can ask questions and share experience concerning the setup.
Up to now, I did not find a better TM-robot, which fits my requirements, concerning order-management.
For myself, I try different setups and safe than for analysis, tested at first in demo accounts, before applying live.
Anyway, every trade-manager cannot ensure profits or avoid losses.
It remains at the traders skill to use it in a clever way.
I´m not a teacher like “Bob” or “Boldtrader”, but I trade forex also over many, many years.
Like other traders I tried also a lot of strategies.
Besides of systems and thousands of indicators available to predict future events,
I determined, that is waste of time, because the most important task has to be at first the Risk- and Money-Management followed by a clever order-management, supported by a Trade-Manager-EA.
Btw: There are EAs, resp. almost purely random trading-robots (scalper), which make profit only by skilled and clever order-management, mostly in longterm scenarios.
For me not the entry is the important part, rather the exit and how to protect my margin and profit, resp. the money invested. Whereby the trailing is an important task, the ATR-feature can support and manage.
Long time ago, I bothered with the strategy BWILC (Bird Watching in Lion Country) introduced by Dirk du toit.
http://www.dirkdutoit.com/blog/?page_id=285
At this time the FX-market was not so choppy and unpredictable as nowadays and I did trade trend-following in the swing for days and longterm over weeks/months, because the markets were more stable in the direction of the mainstream.
Btw: The BWILC-followers trade mainly from top- or bottoms-areas to the median, considering the mainstream about four and more weeks.
I´m not a convinced follower of BWILC or other commercial methods, but one of the followers brought me to a method concerning order-management.
The method has been designated as “robber and sparrow”. It is a method to stack orders in price-direction (first manually applied by a grid with pendings in price-direction), as long there is a stable trend.
The first order, called the “robber” remains unchanged even further orders (the sparrows) has been catched (opened). After three or four orders entered and running in profit, simply by calculation, I cannot lose my margin invested, if I use the order methods available, such as BE-protection, TP, SL-trailing and partial profit etc. There are several methods to deal with. Some trader like to pyramiding without PC, others like to take profit etc. etc. There is no general roadmap how to perform, but at the first glance, we should have the target, to avoid losses, even we have to close a session at zero-sum.
But at any time the FX-market has changed and I has to do fine tuning the method by applying partial close (PC) with higher lotsize (risk), closer BE/SL-trailing performance under consideration of applying RMM-calculations in faster timeframes, trading intraday.
The HPEA provides these features and safes me a lot of time.
For that reasons, I use the HPEA for stacking orders in conjunction with the APTM, which will take over to manage the open orders.
I´m intraday live, trading only with few symbols and I don´t have a special method or highly sophisticated system.
For the pairs, I keep in mind that the USD (USD-Index) will influence almost 80% most of the USD-pairs.
The USDIDX is the leader and the open interests of EUR/USD or USD futures (refer to CME-group or COT) show me the price-locations of the large investors, sometimes the charts show me also the price-spread of the mainstream, we daily can almost hardly identify and estimate.
So, I do not trade with several USD-pairs in a basket.
By using an overlay-Chart, in addition we will find out, the differences between the major-pairs are minor, considering vola, spread, margin, trading hour etc..
I´m a little bit tired to talk about such fundamentals in more detail, because most of the traders are only lurking for Holy Grail indications or fully automatic EAs. I prefer to trade semi-automatic with focus on RM- and order-management.
I get what I see, with a big portion of intuition or call it experience after watching the market movements about thousands of trading hours over the years. I see the big picture, where turning points (SR, MA-compressions, volume, big-numbers, top and bottoms) were located, confirmed by ATR and ADX.
I see the actual-price-level in reference to HiLo-movements with Fibo extensions, the trend and I know the times (trading hours), when vola will come into the scenario and accelerate.
Then I go fishing using the stacking-feature, the HPEA provides.
I like to trade opens and news, although sometimes during spikes or homeruns it might be hazardous. Beginners should stay away and also avoid bidirectional trading.
But for me, no risk no fun. If I get fills, than it is profitable, which will compensate minor losses occured in ranging and choppy markets.
If I do not see chances for profitable trades, I reduce the risk (lotsize) or stay flat with patience.
Waiting for the chances is a virtue of traders. I´m lurking for the chances with high probability.
In ranging periods, I do not have a big chance to make profit constantly, because we don´t know, when a consolidation-period (frequently in the area of big-numbers or top or bottoms) will start or after a period of x-hours after consolidation, when a breakout might be happen.
You might ask for the price-direction? Nobody and I also don´t know it with certainty.
It is frequently and partly random by surprise. So I´m prepared with pendings, lurking for breakouts or focused by alarm, alerts on the turning points or peaks of vola etc..
Intraday sometimes I scale in with additional initial orders, if I assume and I actually recognize a strong movement, but it depends on criminals-slippage-behavior to get then fills just right in time.
Sometimes it works, sometimes not.
Btw: ZigZag-Indi (formation), TMA-ATR-bands, the Bollinger bands in conjunction with other observations might be also helpful to find chances for entries, if they correspond in summary. The TMA Slope MTF from "Baluda" might be also accurate and a first choice.
After opening an order, the APTM will manage these positions automatically, because the EAs perform partial close, trailing-SL and other functions just in time, like I would perform by discrete trading.
As an advantage of the TM-EA, I manually cannot react so fast during high speed vola-periods as the robot does, if price starts to accelerate.
Moving on …
Trade well friends
Over60 |
