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jdella...I purposely did not put a chart of my indicators because I did not want it to become a discussion about indicators. The intent of my post was to help keep this thread going and for others to share some of their experiences with money management. I will gladly share my setup in the future. The criteria for entering a trade is a very common setup that is discussed on the boards. All I have done is add a couple of indicators for confirmation of my entry.
Can you help answer these questions from other members on NexusFi?
I agree. Over the last 4 or so weeks I've abandoned looking at indicators and building strategies in favor of learning better trade/money management. I currently have a strategy that uses one indicator and it seems to be right about 40% of the time (sim). I wanted something that was wrong more often than right so that I can test some different ideas with regards to managing the trade/money.
I am building an external app that communicates with NT. The app has all the money management logic as well as a UI for setting different settings etc. Nothing mind shattering but eventually I'm planning on using it as a framework to use in conjunction with a strategy.
Things I've played with:
- scaling in/out of a trade
- increasing/decreasing the number of contracts based on strategy performance
- dynamic trailing stops
I still have a lot to learn and a bunch of crazy ideas, so if anyone has any suggestion I would also love to hear them.
Sorry if I'm a bit off-topic, but does someone here have a very basic strategy, which use ATM stuff ?
I just to see how we integrate this, and don't want to reinvent the wheel...