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Peter,
I am a recent convert to FX and am getting hooked. What time basis do
you use for your trading?
-----Original Message-----
From: pcwinch [mailto:pcwinch@xxxxxxxxxxxxxxx]
Sent: Thursday, 1 April 2004 11:15 AM
To: amibroker@xxxxxxxxxxxxxxx
Subject: Re: [amibroker] Need help with two basic questions about buy &
PositionSize
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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>
>
>
>
>
>
Send BUG REPORTS to bugs@xxxxxxxxxxxxx
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