I cannot thank you enough for what you have done for me......algo is ticking along like clockwork....everything you said came true and works exactly like you said.........Thank you and may you be blessed my friend..!!
Holy Heck, I can't believe that I got this mostly right! Thank you V.P. I am actually thinking like a real trader now! You have turned my trading completely around. When I started watching your videos my account was in a 12% drawdown and now it is in 4% profit (from initial balance). It took about 5 months, but following your advice I was able to crawl back into the light! My strategy wasn't bad, but my money management was terrible. Now I have a good strategy with proper risk management and concrete rules. I am just so happy to be off the roller coaster, slow and steady is way better Thank You!
Thanks VP. My $0.02. Trailing stops are something that cannot be explained to someone, its almost as if they have to experience it themselves to get what you mean. You need to feel the pain of a tight stop that got you out too early. You need to experience an automated trailing stop that chases price but since price never actually closed at a certain point you got trailed out literally mid candle. Relinquishing control is not an option. This is the only way to do it. A mechanical manual trailing stop that leaves nothing to chance. It can get pretty scary when price goes against you and approaches your TS. Sometimes it hits, sometimes it doesn't. But get out of the way.
Once it clicks, it clicks. Zoom out, look at the bigger picture, breathe and dont be afraid to SLOW DOWN. Your system plays the game for you... it doesnt even have to be that good.
You have completely changed my horrible trading history to become a profitable trader since I started following your channel in March 2019. This will definitely add to my algo. God richly bless you VP.
Man I am obsessed with your money management!!!! I just finished forex qa podcast and all the RU-vid videos. Nerding on the blog now. It finally clicked! Magic man thank you!!!!!!
No matter what trading methods I choose, I always end up re-visiting your videos. You explain these things in such a clear and easy to understand manner. I've lost money trading my own way, so now it's time for me to re-visit this and demo the shit outta this until I go live.
Summary for all the people who have chickenshit for brains like me: Conditions for Setting Trailing Stop: Set Trailing Stop if the Price has closed at or beyond 2 times the Average True Range (ATR) from the entry point. The Trailing Stop should be positioned 1.5 times the ATR behind the Price. Adjust the Trailing Stop only when the Price makes a new low or high in the direction of the trade. When to Update Trailing Stop: Update the Trailing Stop if the Price has closed for a gain exceeding the pips earned when initially placing the Trailing Stop. Entry Rules: Execute 2 trades, each with a risk of 1%. Implement a Stop Loss of 1.5 times the ATR. For one of the trades, set a Take Profit (TP) at 1 times the ATR.
You know VP, when we dwell into your teachings we kinda anticipate how you think, at least for me, because 90% of the video i already apply it. Thanks alot for changing my state of mind.
Hi VP, you will never know how you have changed my trading psychology, indeed since you said that my exit indicator would take me out before the stop loss, I forgot about the trailing stop and started using the stop loss as TS. I am very happy and proud with myself because I have learned so much with your teaching that I have NEVER BEEN listening again or looking at other opinions. Thank you my friend.
Can’t believe VP after 2 years I realised I was using trailing stop loss completely wrong. I was just trusting automatic trailing stop loss which never let my trades to breathe just to find here out we only adjust stop loss manually after the candle closes…. Those damn big candle wicks were the reason all my trades have been stopped All the answers were inside your videos all the time…
Very interesting strategy. Nothing at all like my approach to trailing stops but I’ll give a shot in demo. Good luck traders, may the PIPs be with you 🙏🏾
If there is at minimum one thing that you should take from VPs videos etc . It is his money management . the ATR :1 BE(Break Even) and x1.5:1 SL can change results of average algos that use the standard 2:1 min or 1:1 TP type Money management. All sorts of tricks to try ,like instead of BE you take 0.1% profit ,turning 10 BE trades into +1% instead of 0%. 95% of the trades that hit your small profit BE trade were going to take you out at 0% anyway. A good algo will get you back into the trend.
Ha ha man! If this would've came out a couple days earlier, I still would've been in a really nice trade (CAD CHF DEMO ACCOUNT) I was playing around with TS and it was a bit too tight. No biggie though Im excited, just started forward testing my algo. Good stuff VP!
Great video. Simple things are improving my trading a lot. A simple pen & paper note taking is amazing, firstly it creates a routine, second it's all in front of me at all times, and third it's easy to manage trades from the one book. Most of the time simple is the best... Thanks! And also, you were right, ATR is the best indicator hehe.
Who would have thought that "manually" maitained trailing stop-loss can give you an advantage? Amazing! My platform allows traillings but I can see now that I can be better off while manually moving them based on candle closing! Thanks, VP.
Great! Thank you so much for your awesome stuff, in fact a few days ago I've been testing with an initial TS of 1.5 x the ATR of the further close of the candle, and NEVER MOVING TS to my entry, now I'll test it with the initial 2xATR as you say, because actually I trust you, and always try to take your word. Thanks again VP, really appreciate your effort bud!
omg VP! I've been doing entirely the same for TS that you have mentioned in this video! Except for for using the same ATR the day you get it (I kinda used the daily changed ATR for calculating). I've been worried that I might have been doing things that I should not do for the past two months, and now I am at peace. Thank you VP!
Very clear, watching it 2 years+after release, I am applying these very concept right now to find my "entry" point into some crypto I want to buy and "hold" (the proper way), following your other Crypto video that explains"when to buy". I'm slowly but surely going to get it.
I have been so indoctrinated by you VP, that this is almost the exact process I’ve been using to place my trailing stops. With two exceptions. One being that I have been using the current ATR for that day when I adjust the stop loss. My thinking there is that using current ATR best represents how far price may move. And the other being that once my first half trade closes for a win, I simply adjust the second trade to 1.5xATR, regardless of where price is relative to my break even. I had a strong feeling this was the strategy. It’s been working very well for me.
How did he come back in WTexasOil demo account plus $3300 trading .01 lots. Or .02 closing half already... was curious what size lots are traded on avg at prop firm for general prop trader or account size...maybe future video. Thanks VP
I have 2 confirmation indicator . Baseline and an exit indicator . But I'm still trying to find a volume indicator. The one I have gives me a conformation a little late . Yet today was a 150 to 200 pip day . Yes in 24 hours . Also my baseline keeps me away from getting into trade a little early but it helps me increase my accuracy so well and good !
I hope even when you finish uploading all the videos you plan to do so Every now and then you will give us a new video Even if it is 1 video in six months or a year that would good
Hahahahaha. V.P. believes in freedom of speech. Gotta believe a man who believes in freedom of speech. NO ITS NOT HATE SPEECH. But it was pretty damn funny though. Lol.
i like that even when you do such a great video u think "its far from perfect" ! no man it was great, so far my numbers where like in a new trade: 1 , 1.25 ATR (instead of 2, 1.5) worked great so far, very good runs on gold , GBP pairs, TUR pairs, also i love the fact that when you finally close the position winning like 300 pips its in red (hit a stop loss after all) Thank for every thing man.
Thank you, VP!!! As always, the video was amazing. You are truly the quintessential Forex Educator/Trader on the planet! I know you don't answer questions any longer, but I am curious and only you can answer this question. When FIFO goes into effect on 8/16, how are you planning to enter trades, since 2 trades can no longer be placed on the same currency pair? Maybe you can throw that in one of your future podcasts/videos. God bless!
Thank you VP! The guidance you gave is amazing! It's like I can see clearly now. The Algorithm is running smooth now for about a week and still everything checks out as you explained. Truly amazing. Keep it up VP you are giving people a great service!
Thanks again. I really like this. I've been executing my trades on Oanda lately their platform did a great job there. Funny thing I actually used that platform when I first started because MT4 execution is less than desirable for someone figuring out pip values. Theeeeen I used a MA trailing stop on MT4 and it failed three times so no more of that. I used to write code a bit I'm tempted to learn the MT4 language and make my own EA's so many just don't do what they say they're going to or they look like shit and end up being distracting.
One thing that is still obscure to me, how a professionnal trader deals with spreads, should I lower my profit target so that i get filled ? I think this subject would fit well in the money management playlist. respect to our sensei VP:)
VP when you're saying you're checking in once a day to do your trades or maintenance on your trades. What forex trading window are you starting on? ie First thing in the morning 8 am for NY Forex window? Or when the day ends? I'm gonna watch all the videos, so if its there, I'll get to it eventually. I just haven't seen this bit information yet. Or if anyone wants to chime in.
Just a tip for those using MT4, the platform needs to stay open or else the TS won't work. Trailing stops are client-side, not server-side. www.metatrader4.com/en/trading-platform/help/positions/trailing
@@jamesdoherty6857 You are right. It doesn't matter when you set it manually. VP's stop is actually just a stop , which he moves (max once a day I guess) so it's technically not a trailing stop. Wow VP's stop is set with broker and will be executed even if your program/computer is closed.
why dont you just put the trailing stop to 1,5x ATR from the price that the half of the trade already close? isn't that make the trade brake even if the price goes the otherway and that is our target? because if we dont move the stop lose on the other half of the trade we still lose 0,5x ATR ??
👍👍 if people haven’t figured out how to manage their trades after staring at their screens for hours on end back testing then there’s little hope for them anyway! But nice one anyway vp, there’s always some takeaways from you somewhere. Even if it’s how to deal with fuckwits! 😂
Oh my god, I figured it out pretty close. I am working with my exit indicator and I have included trailing stop in the backtest. I put a 1.5x ATR as a trailing stop after price moved and closed 1.5x ATR of my BE. And I assume trailing stop to take a new high throughout the day for the test. This actually screws the result a little bit for my exit indicator backtest. I think it doesnt really matter for the exit backtest because every test will work on the same rules. Cant wait to test your trailing stop method out during my full algo testing.
Excellent the missing piece well done VP this will be fantastic for trades outside of forex I love equities but I couldn't figure out the ATR until now.
I've been wondering what multiplier would you use if you were trading with lower timeframe? For example when trading on hourly timeframe, 1ATR is way too small to move stoploss to breakeven, no?
Hey VP, just to make sure I understand the two in simple terms. Stop loss is the price you set if the price goes the opposite way of your trade (trade management) And a trailing stop is a stop that moves with your price at a fixed range of 1.5ATR only once price has moved 2x worth of the initial ATR(TP) ? I guess to sum it up, is a trailing stop a less “manual” way of controlling risk on a trade compared to just monitoring and manually moving your stop loss manually as the trade runs in your favor? (after price hits 2x of ATR of course)
Is there any guide or feature on MT4 to "Activate trailing stop loss once X pips profit reached, then trail for X pips" So it can be done automatically while trader is not at desk. I know Ctrader has had this, but cannot find a way to set it to be automated on MT4. Any ideas?
