Hello all!
This trading signal journal will help me (and you!) keep track of my signals, profits, losses, etc. using my proprietary super-secret method (that I proceed to tell you about below! <grin>)
Thanks for following along!
-- Twitch
P.S. Here is the methodology (hopefully not too muddled):
Requires the use of a Parabolic SAR set to:
Step .04 Maximum .4
...coupled with each bar's high (for future bearish entry) or low (for future bullish entry) data to calculate 50% of the distance between the two to create a "stop-loss/possible reverse entry" value. I.E. The PSAR value on 06-23-2009 at 23:00 is 1.4099 and the high (since the PSAR is bearish) for the corresponding bar is 1.4076. I calculate the 50% distance to be 11.5 pips from the high. Therefore the future bullish entry value from a closed out-of-market position until the next calculated bar would be 1.4089 (50% rounded up plus 1 pip to represent an actual breach of that level). If in an open trade, this would be the newly calculated stop-loss level. Upon each closed bar I calculate a new "stop-loss/possible reverse entry" value as the market progresses.
The very first stop-loss entry on the next open position I will place 3 pips above/below the PSAR just for "s* and giggles", since I don't have a previous stop-loss calculation at the change of the signal. I could just as easily update the stop-loss for this first bar as it moves, but that seems like to much brain work, which is why I need an EA to do it for me!
Using this very example, the next bar passed through this value on 6-24-2009 at 00:00 and an entry signal was made.
Entering the market:
By default, 4 entries would be made per signal. One for 1 lot with a 4 pip take-profit goal, One for .3 lots with a 6 pip profit goal, one for .2 lots with a 9 pip profit goal and one for .1 lots to run the length of the system until stopped out.
Getting Stopped Out:
When stopped out, close all open positions and then reassess if reverse trade needs to be placed, instead of automatically placing a reverse trade in the other direction.
Reverse Trade Reassessment Criteria:
When should a reverse trade be placed? Only if the Parabolic SAR is showing a reversal at the time you were stopped out. (Sometimes you may be stopped out a few bars prior to this reversal due to the 50% level stop-loss rules.)
If the PSAR is NOT signalling an immediate reversal on the bar you were stopped out on from the previous positions, I will continue to monitor the 50% level stop-loss rules even outside of any open positions, so that when the actual reversal in the PSAR does occur, you can enter in at this “stop-loss/possible-entry” value.
Here's a chart of recent examples:
http://farm4.static.flickr.com/3539/...cffb0d4f_o.jpg
Hope this makes sense! Anyone that can code this, please contact me!
This trading signal journal will help me (and you!) keep track of my signals, profits, losses, etc. using my proprietary super-secret method (that I proceed to tell you about below! <grin>)
Thanks for following along!
-- Twitch
P.S. Here is the methodology (hopefully not too muddled):
Requires the use of a Parabolic SAR set to:
Step .04 Maximum .4
...coupled with each bar's high (for future bearish entry) or low (for future bullish entry) data to calculate 50% of the distance between the two to create a "stop-loss/possible reverse entry" value. I.E. The PSAR value on 06-23-2009 at 23:00 is 1.4099 and the high (since the PSAR is bearish) for the corresponding bar is 1.4076. I calculate the 50% distance to be 11.5 pips from the high. Therefore the future bullish entry value from a closed out-of-market position until the next calculated bar would be 1.4089 (50% rounded up plus 1 pip to represent an actual breach of that level). If in an open trade, this would be the newly calculated stop-loss level. Upon each closed bar I calculate a new "stop-loss/possible reverse entry" value as the market progresses.
The very first stop-loss entry on the next open position I will place 3 pips above/below the PSAR just for "s* and giggles", since I don't have a previous stop-loss calculation at the change of the signal. I could just as easily update the stop-loss for this first bar as it moves, but that seems like to much brain work, which is why I need an EA to do it for me!
Using this very example, the next bar passed through this value on 6-24-2009 at 00:00 and an entry signal was made.
Entering the market:
By default, 4 entries would be made per signal. One for 1 lot with a 4 pip take-profit goal, One for .3 lots with a 6 pip profit goal, one for .2 lots with a 9 pip profit goal and one for .1 lots to run the length of the system until stopped out.
Getting Stopped Out:
When stopped out, close all open positions and then reassess if reverse trade needs to be placed, instead of automatically placing a reverse trade in the other direction.
Reverse Trade Reassessment Criteria:
When should a reverse trade be placed? Only if the Parabolic SAR is showing a reversal at the time you were stopped out. (Sometimes you may be stopped out a few bars prior to this reversal due to the 50% level stop-loss rules.)
If the PSAR is NOT signalling an immediate reversal on the bar you were stopped out on from the previous positions, I will continue to monitor the 50% level stop-loss rules even outside of any open positions, so that when the actual reversal in the PSAR does occur, you can enter in at this “stop-loss/possible-entry” value.
Here's a chart of recent examples:
http://farm4.static.flickr.com/3539/...cffb0d4f_o.jpg
Hope this makes sense! Anyone that can code this, please contact me!