Best Thread Vwap Engine

[leovirgo]

... It is time to measure Profits. Yes, there must be a plan to take profits at measured level(s). To me, this has been a stumbling block in my progress as a trader. I find that it is sensitive to a trader's psychoprofile, trading method and of couse, unpredictable random elements. The first two must be synchronised to survive the last variable.

It works like this..
psychoprofile + trading method - random elements = P&L of a trade

 

[leovirgo]

Projected Profit Level

This has to be determined prior to entering into a position. In other words, it is the expected profits from a trade. It can be a moving target but there must be a target. Only then we can do R:R estimates.

It must work hand in hand with psychoprofile. Say it is 100pips away from entry level then the trader must be capable of seeing through the trade until it reaches the target. This is where a trader makes a difference. Of course, there can be exceptions. Some traders have simple minds- either stoploss or target hit. Somes may have complex minds, if X happens do this or do that. I don't know what it the best way to do it. But in theory, as long as the reason to enter into the trade is still valid, the position must be opened. But do we move the stoploss level then?

There are two school of thoughts with regard to movinging a stoploss to breakeven level.

 

[leovirgo]

Ok, this is for real. Once I wrote in this journal that I would be testing vwap engine for forex. Well, I have done it and got some working model. For fx, I am using mean in stead of vwap and only hourly chart, anything below that is noisy.

It's simple, I use MACCI OB/OS to sell/buy provided that it stays within "expected trend lines".

 

[leovirgo]

short GJ at 143.25. hardstop 150pips, targeting the same.

 

[leovirgo]

scaled out at 45, banked 80pips.

 

[leovirgo]

this area is in simple support zone from yest's congestion high.

 

[leovirgo]

remaining position exited at b/e when it reversed the course 3 hrs ago.

 

[leovirgo]

Looking to sell again,, if it meets my conditions
Vwap Engine: GJ again

 

[leovirgo]

this thread will mainly be reserved for reflections and note-taking. I am posting live fx trades in my new thread. Pls see my signature.

 

[leovirgo]

For a short term technical trader, it is an efficient trade if the profit is greater or equivalent to 75% of DAILY ATR. agree?

 

[Trader333]

For a short term technical trader, it is an efficient trade if the profit is greater or equivalent to 75% of DAILY ATR. agree?

Depends on the risk level in my view.


Paul

 

[leovirgo]

Depends on the risk level in my view.


Paul

Risk is always lower than expected profit. In this case, for an expected profit of 75% of Daily ATR, risk level is 25%-35% of day ATR, usually 1.5 ATR on hourly.

In otherwords, will not risk more than random move on hourly bar.

 

[leovirgo]

How can we locate a place, where risk is no more than 1.5ATR of 60min, and yet there is a potential to move 75% of Daily ATR?????

 

[leovirgo]

How can we locate a place, where risk is no more than 1.5ATR of 60min, and yet there is a potential to move 75% of Daily ATR?????

Below is one of the potential places to move 75% of Daily ATR.

EU is in uptrend, daily mean levels are rising and this morning saw a pullback (back to the mean of the day before). Therefore, it has potential to move 1ATR (at least 75%) of daily mean from 1.4714 (m2 dotted line). I have a long position on EU- trade posted earlier in my FX thread.

Stop is 33pips (1.5xATR of 60min, which is 22pips) below 1.4714, = 1.4780.
Target is 1.4816.

 

[leovirgo]

EU didn't take off friday but EG did. I was bullish on Euro but not sure which one would actually move daily ATR.

 

[leovirgo]

Daily ATR moves on Fx

Some of the moves..

 

[leovirgo]

Short ES 1083, target 1077, stop 1085.25

 

[leovirgo]

ES live call

chart for the above live ES call. vwap engine rocks :clap::clap::clap:

 

[leovirgo]

VE on FX

This is VE framwork being applied to fx. It works well for EURGBP for the last few weeks.

 

[leovirgo]

VE for AAPL

It was pretty simple - it either broke out or failed. The key was to control risk on H1 hourly chart and let the winners run until the trend was undone. It's still in a big down trend.