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Hi Alex
The logic of trend following with pyramiding appeals to my trading
logic in that your are lead by the market (the market is always
right), you do not try pick tops or bottoms, letting your profits run
and cutting your losess and you are using an anti-martingale strategy
(pyramiding up, instead of averaging down).
Trend following systems are generally of the most profitable systems
to trade historically (albeit it psychologically more challenging).
Longer terms systems are also gernally more profitable than shorter
term.
I know that the system is hard to trade with only 3 out of 10 winning
trades, but the money moneymagement and other principles are sound.
With kind of system tho, you need to be sure that the system has a
good positive expectancy in order to remain resolute in the inevtable
draw-downs and it is for that reason that I must satisfy my own mind
with extensive back testing.
In answer to your query tho, I have no pratical experience trading
this system, but I feel more comfortable to first understand any buy
in to a system's logic before testing & tradings as a system must be
in accordance with your personality and belief system.
Thanks for the warning tho.
Dieter
--- In equismetastock@xxxxxxxxxxxxxxx, Alexander Atreides
<alexatreides@xxxx> wrote:
> Dieter, do you know the trading history of this system
> ?
>
> I have read a lot the last few years. I would be
> cautious. Very!
>
> AlexAtreides
> --- wemmer2001 <dieter@xxxx> wrote:
>
> >
> >
> > Hi
> > Could anyone please offer advice w.r.t. Metastock
> > Code for the Turtle
> > Trading System. (The complete system rules can be
> > downloaded from
> > www.originalturtles.org/docs/turtlerules.pdf)
> > Briefly, one system included in the rules is as
> > follows:
> >
> > Enter on 55 day breakout, exiting on a 20 day
> > breakout in the
> > opposite direction (if entered long then exit on 20
> > day short
> > breakout).
> >
> > Stops : Stop is set at 2N.
> > N = ((ATR(19) + last days ATR)/ 20
> > {Basically 2 X 20 period Exponential Average True
> > Ranges}
> >
> > Pyramiding: A maximum of 4 extra units are added
> > when in the position
> > moves in your favour in the following manner: For
> > each 1/2 N move
> > after initial entry, add 1 unit. All existing stops
> > are then moved to
> > the same position as the most recent unit's stop,
> > whereafter they
> > remain fixed and do not form trailinng stops.
> >
> > Regards
> >
> > Dieter
> >
> >
> >
> >
> >
> >
> >
> >
> >
>
>
>
>
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