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Tobias,
My reply is not about the question you ask, but about your whole approach to
Forex. The major advantage of the FOREX market is its liquidity.
I do not know why you would want to hold a position for 8 weeks. To trade
FOREX you need small exposure, max 2%, traded frequently for modest gains.
100% returns a month (on the full 100% not the 2%) can be achieved just by
concentrating solely on not making big losses, but readily and rapidly
taking small ones. Each month you retire 50% of the previous months gain to
the bank, reset the 2% limit value...and off you go again.
Nothing more complicated than stochastics is needed though I strongly
suggest viewing multiple time frames, at least 3. and trade the middle, plus
multiple markets.
Keep it simple! Just as a check to tech analysis indicator such as
stochastic , if you get bored watching the screen sometimes, play with
fibbonaci (some I know do), or put some raff channels in.
So I strongly suggest you keep your approach dead simple. Because sometimes
it is boring you could trade multiple currencies, but there are strong
relativities between them all, and if there is action, and you are in
multiple markets, ..the work rate will bury you at those times if you do
have a complicated system..
To answer your question perhaps more directly, don't pyramid! I have seen
100 pip changes faster than you can hit the keys to exit a trade. You do
not want to be pyramided at these times. (When one of the big boys decides
to back up the truck and unload or load...for a few minutes it is death
defying -recently the BOJ has done this and it ain't pretty). Also
pschologically it indicates the wrong mind set..."greed"...greed is the
enemy of wealth creation. (eventually).
And finally, do not trade for real until you can execute trades with better
than 80% success per trade before you start. I know people say you can do
it with 50%, but the subtle pressure of the 80% is that it keeps you from
over trading!! and only going in when conditions are the best...(and why
would you go in for any other reason? - blind greed is usually the answer).
Peter
----- Original Message -----
From: "ksork75" <k.sork@xxxxxxxx>
To: <amibroker@xxxxxxxxxxxxxxx>
Sent: Thursday, April 01, 2004 10:30 AM
Subject: [amibroker] Need help with two basic questions about buy &
PositionSize
> Hi
>
> I am trying to backtest some ideas I have for FOREX trading.
>
> I have two questions, but first som basic info about my system.
>
> The concept is that I risk 10% with a S/L of 2*ATR in 1h chart. My
> trailing S/L is slow, so the system lets me add in new positions if
> some conditions are meet (e.g. new top after the latest buy signal).
> This has as an effect that I would like to make Amibroker buy more
> then once before I sell. I can hold a position in ~ 8-16 weeks (a
> function of a slow SAR).
>
> Now to my questions;
> 1// How do I do in Amibroker so I can buy on all raw signals
> (unfiltered), and later on sell all open positions when I get a sell
> signal?
>
> For example
> Pos 1, buy at 1.2 and let the profit run.
> Pos 2, buy at 1.3, but where stopped out at 1.25 due to ApplyStop
> Pos 3, buy at 1.5 and let the profit run
> Sell pos 1 & 3 (the remaining open pos) at 1.8 due to a sell signal.
>
> 2// I wold like to have a 10% risk of my total capital at every buy
> signal. When I try to make the positionsize depend on my risk
> Amibroker always takes my INITIAL Equity and calculate the risk.
>
> My formula for sizing looks like;
> TrailStopAmount = 2* ATR(14);
> Risk = 0.1*Equity(0,-2);
> PositionSize = (Risk/TrailStopAmount)/100;
>
>
> Thanks / Tobias
>
>
>
> Send BUG REPORTS to bugs@xxxxxxxxxxxxx
> Send SUGGESTIONS to suggest@xxxxxxxxxxxxx
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> Post AmiQuote-related messages ONLY to: amiquote@xxxxxxxxxxxxxxx
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>
>
>
>
>
>
Send BUG REPORTS to bugs@xxxxxxxxxxxxx
Send SUGGESTIONS to suggest@xxxxxxxxxxxxx
-----------------------------------------
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