Q:
The difficulty lies in finding the correct move & retracement settings.
A(by Jon)
The default settings should be enough to get you started with most reputable brokers. The retracement qualifier only has to be greater than 0% in order to enforce the higher high / lower low. But I think 23.6% is a plenty for quality trend. If you want a steeper trend, you could increase this to 50%, but the failure rate will be significantly higher, especially for larger move lengths (moveComplete)
Certain pairs, like CHF pairs you may need to increase the IgnoreDistance to 1.0-3.0 pips or higher, to give more room to break out of the choppiness.
The primary focus is on the length of the move: how long of a trend do you want to measure? Well, start with this: how far do you normally expect the market to go with no pullback in-between? (not including tsunamis). 50 pips? 200 pips? 400 pips? Maybe you could measure half or a 1/3rd of that expected range and then see what happens after the measurement is complete.
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Q:
I think it's easy to use the indicator (especially after watching the APAMI video 4EverMaAT prepared). It's more difficult to build a valid strategies around it. I hope 4EverMaAT will share some ideas with us soon.
I see a potential to use this indicator together with grid system ideas presented here:
A (by Jon):
There is no one right or wrong way to enter or exit. It is important that it be completely systematic (mechanical). I recommend using a tradecycle approach to help you guarantee 100% mechanical implementation. With a mechanical approach, you can then focus, test, and optimize the parts you have control over (mainly position sizing and exits), and give up trying to force the market to go where you want it to.
I trade pullbacks, and so I use a reverse grid to cover the trend as long as I have to achieve a net profit, break even, or small loss. The net profits > the losses over repetitions.
Again, we need to break out of this predictive model mindset where we attempt to force very low drawdowns and unlimited profits expectations on the market. As you do more and more tradecycles (repetitions), the risk decreases. In a similar way in factory production, the cost per unit decreases the more units you produce with the same net costs.
I will probably write another article addressing this, but I think for now it is good idea for people to read the original turtle trading strategy. It's too bad that other vendors have hijacked their original domain name, linked to their commercial product, and removed the original turtle rules pdf. Start with the intro and first chapter; that will give you more insight as to mechanical trading strategies.
Note my strategy is not directly a turtle trading strategy, but the fundamentals of a complete and honest strategy are in the pdf and i think it is worth looking at.There is no one right or wrong way to enter or exit. It is important that it be completely systematic (mechanical). I recommend using a tradecycle approach to help you guarantee 100% mechanical implementation. With a mechanical approach, you can then focus, test, and optimize the parts you have control over (mainly position sizing and exits), and give up trying to force the market to go where you want it to.
I trade pullbacks, and so I use a reverse grid to cover the trend as long as I have to achieve a net profit, break even, or small loss. The net profits > the losses over repetitions.
Again, we need to break out of this predictive model mindset where we attempt to force very low drawdowns and unlimited profits expectations on the market. As you do more and more tradecycles (repetitions), the risk decreases. In a similar way in factory production, the cost per unit decreases the more units you produce with the same net costs.
I will probably write another article addressing this, but I think for now it is good idea for people to read the original turtle trading strategy. It's too bad that other vendors have hijacked their original domain name, linked to their commercial product, and removed the original turtle rules pdf. Start with the intro and first chapter; that will give you more insight as to mechanical trading strategies.
Note my strategy is not directly a turtle trading strategy, but the fundamentals of a complete and honest strategy are in the pdf (link to PDF) and i think it is worth looking at.
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Q:
Is there any who uploaded and made profit by this indi
A (by kor4x):
yes, I know how to make $$$ with this indicator, but I cannot say that I made money only due to this indi. This would not be exactly true. There are no indicators that just are giving you money, indicators are just tools, helpful or useless tools. Any tool, if mastered properly is giving you an edge. AMP or korHarmonics indicator can scan me the charts to fine harmonic patterns and potential trades. But if i have no skill to trade harmonics, I will not benefit from AMP or korHarmonics. Simple.
APAMI tool is very helpful, but one need an understanding and skill to use it.
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