ForexExpert Posted April 30, 2011 Report Posted April 30, 2011 Hey guys , I know this costs only five bucks , but hey , free is always better :) http://www.multiupload.com/WK4ZPX0GT0 ⭐ Gambler67, forexmaniac84, newbie111 and 19 others 22
apple1937 Posted May 3, 2011 Report Posted May 3, 2011 Don't understand the meaning of S/L at least 2 times the ATR for 14 periods... Can anyone explain that? Thanks.
JimJamBonks Posted May 3, 2011 Report Posted May 3, 2011 Add the average true range (ATR) indicator with a value of 14 to your chart in question. Look at the reading of the ATR at the candle in question. Take that value & double it. That is 2 times the 14 period ATR - which is essentially asking you to set a stop loss of double the volatility for the last 14 periods.
apple1937 Posted May 3, 2011 Report Posted May 3, 2011 Add the average true range (ATR) indicator with a value of 14 to your chart in question. Look at the reading of the ATR at the candle in question. Take that value & double it. That is 2 times the 14 period ATR - which is essentially asking you to set a stop loss of double the volatility for the last 14 periods. Hi.. I am still no clear about the explanation. If the closed price is 1.34936 and the ATR is 0.0361, what is my stop lost? Thanks in advance..:)
ForexExpert Posted May 3, 2011 Author Report Posted May 3, 2011 apple , let's say you put your ATR with period 14 to your chart.For example , in the E/U H1 right now it is showing 0.0028 , in your ATR screen , right ? you get that value , 28 , and multiply per 2 , you will find your SL wich is 56. apple1937 1
JimJamBonks Posted May 3, 2011 Report Posted May 3, 2011 (edited) Apple - For some reason the forum isn't displaying my embedded images. Copy the following link into your browser, it will take you to a chart example which might(?) make more sense.. :) http://www.screencast.com/t/SANdTbl4h This system is designed to work on Weekly charts and seems to do so with some success. Needless to say the stop loss sizes are enormous in pip terms so I'd say Oanda and it's fractional position sizing is the only broker that allows non-millionaires to trade such stop sizes while strictly making the stop size a managable equity percentage. Though I personally could never trade off weeklys - that's like waiting for the next ice age to happen. Edited May 3, 2011 by JimJamBonks apple1937 1
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