How to Apply the Trend Catcher Chop Filter Indicator to the Chart and Trading Rules to Help Filter Out Chop

#23

I am no expert on trading TC with Spot Forex. However there uses to be a section with a whole bunch of bar sizing parameters for the different currency pairs.

The TC itself as a system is the same for Spot forex. bar size will be about the only thing that you would want to determine for your chosen Forex pair.

For some reason when I try to go to that old section (pre new forum) I can’t get to it anymore?

hmmm?

As far as videos, if you learn the entry and exit rules of the Trend Catcher system it will be applicable to trading spot Forex. Same for trading futures, stocks, cfds, and even Nadex bull Spreads. :slight_smile:

#24

Keep it simple. Most of us just trade 12 tick bars with 7 period on TC and 15 on CF.

It can be used on any instrument forex, interest rates, indices, metals, ags, etc…

Get down the rules on Entry with chop filter

Slingshots

Elevators

Then get down your stop

Then your take profit

Once you have the system down simply advance to demo trading it.

Once you have the execution down then you can do various test on a few instruments with different bar sizes (not much m re to change than really bar size. Keep it simple :slight_smile:

#25

Here is the spread training:

http://apexinvesting.net/forum/futures-forex-spreads-trend-catcher-chop-filter-new-446/trading-trend-catcher-using-chop-filter-spreads-3235.html#post10434

#26

Thanks to both of you…I plan on trading spot forex using TC through ninjatraders FXCM linkage

#27

Here is the latest webinar covering the 3 entries, stops, targets and how to take profits:

5-19-2015

#28

The new webinar was great. Loved seeing all the rules and everything explained in one place. <br My question is how to you handle multiple positions with the FIFO rule? <br Say I’m in a long trend catcher trend trade… and trend has moved nicely… <br Now, an elevator or slingshot trade comes up and I enter my scalp order and it gets triggered… <br That scalp trade if the stop gets hit… will also close out the long trend trade that I’m still in, correct? <br You can’t leave that position open to hopefully continue the trend? (I’m assuming that the predictor arrows that you are trailing with is further back than the scalp trade) <br Or is there some rule that I missed that says you would move the stop on the trend trade up to meet the stop of the scalp trade anyway? <br Thanks guys! <br PS - Great work Darrell and Apex Team. TC has come a long way and the improvements are showing. :thumbsup:

#29

Also, what about an elevator followed up by a TC entry? <br Say for example I’m in a long trend catcher trade… price is moving nicely… <br Now an elevator trade shows up and it just so happens to trigger the entry on the short TC and then the bar closes back up. <br Market continues up and makes it a tick above that high = elevator entry. <br However, you now also end up with a confirmed long TC right after! <br Do you take just one of these or do you take both even though they are back to back? <br Sorry for all the questions but just want to make sure I’m trading optimally.

PS - You can see an example of what I’m talking about here in the fifth image in Lori’s first post way over on the left side. There is also an example in the 10th image over on the right side.

#30

If you are long - and you add another long - and close out the second long the first one will still be open unless you close both contracts.

If i buy 2 and sell 2 I am still long 1 contract.

So if you are trailing with predictor and the stop is most likely further away then yes you can leave open the original TC entry with its trailing stop while closing ie the elevator.

#31

My head is spinning reading this question :slight_smile: (note you can click an image and drag it into your post to give it as an example :slight_smile: Cool new feature of the new forum. 5th image im assuming:

  1. In long trend catcher meaning y our trailing with the predictor
  2. An elevator pops up (which in this example loos as if it took the 10 tick profit (but if not elevator is stopped out))
  3. Short TC comes up but notice the MVP predictor trailing stop has not been hit yet so your still in the long. The TC flips back long and you just keep trailing.

10th image im assuming

Short TC if trailing… tc chop filp but predictor not hit - again predictors not hit till quite late into the confirm flipping so there was no long elevator - so short run - take profit - long trade take 110 tick loss (8 tick +2 since bar size is 8) and then market promptly flips short on everything and your going short again. Not married to a direction :slight_smile: Hope that helps.

#32

What?! For real? I thought both Forex and Futures was subjected to the FIFO rule? Where your first trade entered had to be closed before you could close a second trade that was entered later? I thought this was a NFA Rule?

For example with Oanda… You can still try to close any trade, but you will be warned if the oldest trade of the currency pair and unit size needs to be closed first. You will be given the option to close that oldest trade instead.

Found some resources online that state: “First In First Out simply means that when you have multiple positions in the same currency pair, the position which was first opened will be the first to be closed. This execution process is the common practice in the US equities and futures markets.”

Perhaps the FIFO rule only applies to Forex and not futures? (I have very little experience trading futures so am not sure)

Thanks for your reply, Darrell. Appreciate it.

#33

I’ll use the same image you did to try and clarify on my elevator question.

In the middle of this chart, right after the elevator trade, you have a TC entry…

Would you also enter on this TC entry, if you were not already short the previous TC entry?

If you were already short, would this be a “add-on” entry?

Hope that helps clarify my question a bit.

Thanks again, Darrell.

#34

Is anyone missing the trend catcher chop filter template with the new toolkit upgrade? I customized mine and renamed it under the original template name and saved it but since I updated my toolkit its now missing. Am I the only one with this problem?

#35

I’m missing the TC template too.

#36

New upload with template. Try updating again.

#37

Regarding fifo this is one of many stupid rules post 2008 that where made by people who have never traded forex.

The net result is the same no matter what order is closed first so its literally pointless.

This rule has zero impact on futures.

The rules state that if a previously entered position is of a different size than later positions, it is not subject to the FIFO rules.

This is the key to not having to deal with it. Different size.

Vary each position by a nano or micro lot size and the positions to not be subject to fifo

Ie 10100 or 11000 ot 9000 or 9900 or 10000

You could enter all these without any being subject to fifo. Which just confuses people and is easily avoided.

This should resolve any issues you have regarding fifo and forex. Not an issue on futures.

#38

There is a tc short followed by 2 back to back short elevators. If you trailed with mvp predictor trail profit exited a bit lower. Then a new tc short happened on the right that is a valid entry.

I hope that answers your question?

If this does not answer your question, plase mark on the chart specifically where your questions applies.

#39

WOW! I didn’t know that about the FIFO rule. Learn something new everyday. Thanks Darrell!

#40

Yep, that answers it. Thanks again. :smile:

#41

Hey everyone, had a couple of questions. The chart below should illustrate them pretty clearly and I’d appreciate some feedback. Thanks!

http://content.screencast.com/users/travishawkins/folders/Jing/media/9dec5733-655c-4c63-ab7e-95cd44e183d6/NQ%206-1-15%208_30am.png

#42

Also, when in a Trend TC trade… after an elevator or slingshot setup (whether valid entry or not), do you adjust the stop from the predictor arrows to above the high or low (depending on trend direction) of the elevator / slingshot bar? Would it be 1 tick or 2/3 ticks?