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Daveatt

Introduction to the BEST Trade ManagerHello traders Let me highlight what the BEST Trade Manager can do for you. The Trade Manager adds another layer to your own systems, enabling custom user-defined stop-loss/take-profits and real-time analysis with risk-to-reward ratios. We made it as such the visual rendering is also very nice on mobile devices. Reviewing: - How to connect your own indicator(s) - How to read the graphical elements - The 8 Stop-Loss options - The 4 Take-profit options - The alerts and dynamic alerts for trading automation Links are in my signature for more information about it Wishing you all the BEST for your trading using it. Dave
Education
by Daveatt
8
Bitcoin: Short SignalHello traders This short signal is justified by a few elements: - Signal from my algo framework - Everyone being extremely bullish - My cab driver yesterday asking me if he should buy Bitcoin or not - Went too high too fast (too furious) - and what goes up must come down (some call that mean reversion or Fibonacci retracement) Entry Zone Aiming for a pullback around 10300. Aiming for a zone always, aiming for a specific price is dumb and rarely work That's why I set ladder limit orders, always. Take Profit Around the SMA weekly/monthly, you'll see below. Keep in mind they're dynamic and moving. Right now (February 13th) they're around 8700 USD Stop Loss You won't see any stop loss level on my chart because they're managed by an indicator. When stopped out, the chart will display a brown vertical bar that I call "hard exit" or "invalidation" I did set the hard exit so that to exit with a small loss most of the time. And helping me holding onto winners for much longer I'll update this thread if the trade will be invalidated. Best regards Dave
Short
by Daveatt
8
Algorithm Builder - INDICES - SPX500 - Review Oct 18th, 2019Hello traders I. Daily tutorial publishing challenge officially begins Starting today, I'll be publishing every night what were the setups given by the Algorithm Builder Indices . ---------------------------------------------------------------------------------------------------- You'll find more information about that script in this script signature. ---------------------------------------------------------------------------------------------------- II. Wisdom of the day Last Friday was the Triple witching hour day. That is the day where the US contracts come to expiration on the US market - this event happens once a month. Hopefully, only once a month, because this day is often particularly hard for traders to trade. Those days are the expiration of three kinds of securities: 1. Stock market index futures; 2. Stock market index options; 3. Stock options. The simultaneous expirations generally increases the trading volume of options, futures and the underlying stocks, and occasionally increases volatility of prices of related securities. III. Why a 1-minute chart? The indicator won't give more than 3/5 trades per day even. This is not a scalping trading method, it's intraday and based on smoothed indicators for entering in a strong trend only. Those are the most secure trades possible because: - the Algo Builder waits for a strong confirmation and will avoid the fakeouts - the 1 minute allows to enter very early. This point is crucial. We made it so that to enter early but with a minimum of security. IV. SPX500 - Signals of the day 2.1 Morning trade 1. 8:45 am We had a difficult move to take because in front of multi-timeframes resistances. and US stocks opening 45 min later. What I usually do, is to wait for a pullback near the EMA 20 which has a few huge benefits: - generally gets me a better entry price (lower for a long, higher for a short) - reduce the distance between my entry price and stop-loss - hence reducing the risk of the trade The Algorithm Builder - INDICES calculates the stop-loss internally, based on the price where the signal appears 2. 10:12 am and 11:45 am The IDEAL scenario for the Algorithm Builder. Leading trend is red, short signal, no supports near, a great setup with a decent risk-to-reward ratio. When we're in the same direction as the leading trend and the next algorithmic SMAs are a bit far, those are the moments where I know that my reward is far greater than my risk. Would I overleverage or increase my position size drastically anyway knowing this is the Triple witching hour day? Maybe not :) The three morning trades gave about 270 pips 2.2 Afternoon trades 1. 1:05 pm We now see a BUY against the leading trend in red. Which means, the trend is not too strong to go crazy yet. The method tells to wait for a pullback near the EMA 20 to enter with more security 2. 3 pm In the same direction as the leading trend but in front of MTF resistances. Even waiting for a pullback allowed to grab the last 30 pips of the day To quote Ice Cube - it was a good day :) All the best, Dave
FX:SPX500Education
by Daveatt
Algorithm Builder - INDICES - DOW JONES - Review Oct 18th, 2019Hello traders I. Daily tutorial publishing challenge officially begins Starting today, I'll be publishing every night what were the setups given by the Algorithm Builder Indices . ---------------------------------------------------------------------------------------------------- You'll find more information about that script in this script signature. ---------------------------------------------------------------------------------------------------- II. Wisdom of the day Last Friday was the Triple witching hour day. That is the day where the US contracts come to expiration on the US market - this event happens once a month. Hopefully, only once a month, because this day is often particularly hard for traders to trade. Those days are the expiration of three kinds of securities: 1. Stock market index futures; 2. Stock market index options; 3. Stock options. The simultaneous expirations generally increases the trading volume of options, futures and the underlying stocks, and occasionally increases volatility of prices of related securities. III. Signals of the day 2.1 Morning trade We had a difficult move to take because in front of multi-timeframes resistances. What I usually do, is to wait for a pullback near the EMA 20 which has a few huge benefits: - generally gets me a better entry price (lower for a long, higher for a short) - reduce the distance between my entry price and stop-loss - hence reducing the risk of the trade The Algorithm Builder - INDICES calculates the stop-loss internally, based on the price where the signal appears 2.2 Afternoon trades 1. 8:45 am The first SHORT was given against the leading trend. Around 2:45 pm the background is green, meaning the leading trend is still bullish but as we got a short trade, we had to take it. Plus we were just below a ton of supports which tells us that a pullback near the EMA 20 is really required. Before getting invalidated by the brown vertical bar, we had an 84 pips opportunity . It's usually a good practice to set the stop-loss to breakeven or exit completely a position before the opening at 9:30 am. We often see violent and unpredictable wicks a few minutes before and after the US stocks open. 2. 4:05 pm (UTC+2) The IDEAL scenario for the Algorithm Builder. Leading trend is red, short signal, no supports near, a great setup with a decent risk-to-reward ratio. When we're in the same direction as the leading trend and the next algorithmic SMAs are a bit far, those are the moments where I know that my reward is far greater than my risk. Would I overleverage or increase my position size drastically anyway knowing this is the Triple witching hour day? Maybe not :) Maybe I should have (kidding) :( ... it was a 162 pips move :) All the best, Dave
FX:US30Education
by Daveatt
How to interpret the results of my Dollar Cost Average indicatorGood morning to the US, Good afternoon to the EU, and Good night to ASIA This post has 2 purposes. 1) Showing you with the video below how to use my indicator Dollar-Cost-Average-Data-Window-Edition/ 2) Collect your likes and move up in the Pine scripters ranking (no shame) Let's start with the first goal here Here's a quick reminder of what's the Dollar Cost Average investment/trading method Dollar-Cost Averaging is a strategy that allows an investor to buy the same dollar amount of an investment on regular intervals. The purchases occur regardless of the asset's price. My Dollar Cost Average (DCA) indicator will analyse for the defined date range, how the DCA method would have performed vs investing all the hard earnt money at the beginning If you missed the video above, here's the link again Dollar-Cost-Average-Data-Window-Edition/ (Yes people ask me info that are on the description, screenshots, videos so please don't take it personally if I repeat myself a bit, trying to get my inbox empty by the end of day and receiving loads of questions already answered won't help :p) The DCA performance versus Your trading performance Full disclosure here before going further ..... it's not because a DCA methodology worked in the past that it's guaranteed to work in the future. Otherwise, trading will be too easy and we''ll be all multi-millionaires But as we say often that the "trend is your friend", dollar cost averaging on a bullish market in a daily/weekly/timeframe is often (but not always) a way to make a decent amount of money To be honest, most of my friends who dollar cost average are making much more than many of my traders friends who're staying hours per day in front of the chart. They take less trades but they're consistent with their method. DCA allows to reduce the stress of trading, the stress of chosing the right moment, the right news and the right crypto animal twitter accounts to follow. A day trader, is more likely to commit mistakes in my opinion. This is certainly not because you take more trades that you'll have a better performance and I hope my tool will highlight it for you. Taking more trades increase the risk of losing as each trade is an opportunity but also a risk and the higher the number of trades, the higher the risk is of losing your previous gains This educational post is not an invitation to DCA blindly and abandon your trading not all. Because if you do, I'll be unemployed... but a great way to introspect and think and ask yourself the good questions : - Am I outperforming a DCA method ? - If my personal performance is negative or way below the DCA, should I reallocate part of my trading capital into a DCA-oriented methodoogy ? The DCA humbled me a lot on assets that I was so sure to have a killer performance with my trading. It has been and still is a great trading lesson that I'm sharing with you today See you tomorrow for the strategy version of that indicator which will help you compare side to side your own strategy vs a DCA ____________________________________________________________ Feel free to hit the thumbs up as it shows me that I'm not doing this for nothing and will motivate to deliver more quality content in the future. - I'm an offically approved PineEditor/LUA/MT4 approved mentor on codementor. You can request a coaching with me if you want and I'll teach you how to build kick-ass indicators and strategies Jump on a 1 to 1 coaching with me - You can also hire for a custom dev of your indicator/strategy/bot/chrome extension/python
BITSTAMP:BTCUSDEducation
by Daveatt
1