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Hi
Thanks for you thoughts, but I think that we have a slightly
different approach to trading forex. I strongly believe that the big
profits are in the big moves :-). But if you can show me a system
that will give a profit of ~100% / month with 2% risk/trade will I
abandon my long-term system at once and start to trade yours. I am
here for the money… No need to argue about that…
My buy signals are generated by a drawdown in 1h, indicated by a
shift I DMI in 1h. My trend is defined with new & higher peaks &
bottoms in 1h, where a new peak & bottom take place during a new
shift in DMI. A trend like this can consists over ~8 (sometimes more,
sometimes less) weeks. I do not buy under certain conditions to avoid
burning my money during a dull market. I let the upper Dochian-
Channel define my buy price for an upward trend. This permits me put
a limitbuy order, which is one of my requirements for my trading.
As soon as a trade shows a profit on 4*ATR will my S/L be moved to
buy level, and be there until my system S/L moves above it. By doing
so will I not risk more than my risk level during the whole long-term
trend for each trade. I will not buy a new position if my old
position still has a -2ATR S/L and a new peak not have been created.
So as you may understand now am I really interested in:
1. To know how to set up AmiBroker to let me buy more then once (i.e.
each buy-sell par of signal must be independent of other signals that
my take place between the first buy and system S/L. System S/L are
the same for all buy signals during a trend).
2. Calculate position size with growing equity that lets me re-invest
my capital.
/ Tobias
--- In amibroker@xxxxxxxxxxxxxxx, "pcwinch" <pcwinch@xxxx> wrote:
> 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@xxxx>
> 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@xxxx
> > Send SUGGESTIONS to suggest@xxxx
> > -----------------------------------------
> > Post AmiQuote-related messages ONLY to: amiquote@xxxxxxxxxxxxxxx
> > (Web page: http://groups.yahoo.com/group/amiquote/messages/)
> > --------------------------------------------
> > Check group FAQ at:
> http://groups.yahoo.com/group/amibroker/files/groupfaq.html
> > Yahoo! Groups Links
> >
> >
> >
> >
> >
> >
Send BUG REPORTS to bugs@xxxxxxxxxxxxx
Send SUGGESTIONS to suggest@xxxxxxxxxxxxx
-----------------------------------------
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