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
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| Author: | ironrick [ Thu Nov 24, 2011 12:40 am ] |
| Post subject: | Trade Template |
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 |
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| Author: | SteveHopwood [ Fri Nov 25, 2011 10:33 pm ] |
| Post subject: | Re: Trade Template |
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 |
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| Author: | ironrick [ Sun Nov 27, 2011 4:59 am ] |
| Post subject: | Re: Trade Template |
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 |
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| Author: | ironrick [ Wed Jan 04, 2012 5:52 pm ] |
| Post subject: | Re: Trade Template |
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 |
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| Author: | ironrick [ Wed Jan 04, 2012 5:55 pm ] |
| Post subject: | Re: Trade Template |
George has suggested that the "Basic Info" section include: Great idea! I will update the template to include this. Several other updates too... Look for them in post 1 soon. R |
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