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LegendaryTrader Indicator and Strategy


ampf

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4 hours ago, ampf said:

Anyone understands how the strategy works, because I load the ATM but its like it wasn't there. Also can you share the values your using on the Max Tick Profit/Loss?

 

Thank you

When it comes to this part, it should always be based on your own trading style and risk tolerance. Someone's else stoploss might not be suitable and right for you. I might have the ablitlity to have a stoploss on each trade at $1000, that doesn't mean, you might be, or should be be as well.

Everyone has his or her own profit goal for each trading day, week or month. You should too. Knowing ahead of time how much you want to risk, how much you want to make, before even entering a trade is a must-have.

Templates are just guides. Not to mention, each market has its own way of moving. Being able to adapt and react and adjust to the market, is also vital.

Edited by ninja_under_da_roof
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40 minutes ago, ninja_under_da_roof said:

When it comes to this part, it should always be based on your own trading style and risk tolerance. Someone's else stoploss might not be suitable and right for you. I might have the ablitlity to have a stoploss on each trade at $1000, that doesn't mean, you might be, or should be be as well.

Everyone has his or her own profit goal for each trading day, week or month. You should too. Knowing ahead of time how much you want to risk, how much you want to make, before even entering a trade is a must-have.

Templates are just guides. Not to mention, each market has its own way of moving. Being able to adapt and react and adjust to the market, is also vital.

I agree with waht you said but here I was trying ti understand and I was not clear on the previous post how the ATM and the Max Tick Profit/Loss are related here. I have asked about this to see how those parameters would limit the ATM usage. Because when I use an ATM lets say with a take profit of 10 ticks after reach those 10 ticks the strategy keeps the position open and sometimes when the profit is reached on that day it does not open other positions.

I would like to hear some experiences on how the strategy is being used to figure out this. But once again, your right the max profit/risk will be diferent to each person.

Thank you

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21 minutes ago, ampf said:

I agree with waht you said but here I was trying ti understand and I was not clear on the previous post how the ATM and the Max Tick Profit/Loss are related here. I have asked about this to see how those parameters would limit the ATM usage. Because when I use an ATM lets say with a take profit of 10 ticks after reach those 10 ticks the strategy keeps the position open and sometimes when the profit is reached on that day it does not open other positions.

I would like to hear some experiences on how the strategy is being used to figure out this. But once again, your right the max profit/risk will be diferent to each person.

Thank you

With the new version, I believe it calculates your daily goal within it automatically, based of your initial stoploss and profit target.

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