i like the sampleatmstrategy attached as a starting point
i'm currently working with an atm that looks like the attached screenshots with only 2 contracts - these work pretty well for CL
first contract is target 10ticks and after 8 or 9 go to breakeven + 1 tick
(can't figure how to post screenshots of the atm setup windows)
very nice statistics to keep I see. I already kept track of some sort of MAE, but not yet MFE. Thanks for sharing that idea. The statistics can be very insightful in your trading. E.g. you will get a feeling for what are normal losses. For example, it is nice to know if 3 stops being hit ( demoralizing) in a row is “a relatively normal occurrence” or not and it is better to stop trading for the day.
I keep track of 1 more statistic. I like to keep track of some sort of time-based stop loss. What I found out ( in the Eurodollar currency futures 3 min chart) is that if the trade doesn’t move in my direction in 3 1-minute bars ( 180 seconds ) the odds of a profitable trade will become very small. For sake of simplicity:
1) If position in profit after 3 1-minute bars then my SL -> to BE/entry
2) If position in loss after 3 1-minute bars exit immediately. This is more difficult( feelings->accepting the loss). But when after 3 1-minute bars my position is for example in loss for -2 pip it is most of the time( lets say 8/9 out of 10) better to scratch the trade immediately instead of waiting for my hard stoploss to get hit.
The great benefit of this “rule” is that I can minimize losses of the bad trades.
I must say I haven’t got hard statistics of this 180 seconds rule, but it is more from experience (which offcourse could be biased by heuristics).
Maybe it can be valuable for you to track some kind of own version of this statistic. If you have a better idea or think there are flaws in this approach, I would love to hear.
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I can't edit my posting of 7th july ( second prior posting) but with testing this timebased stoploss in eurodollar failed miserably. There were too many stopouts and just holding the stoploss (instead of moving it quickly to breakeven) yielded far better results.
Offcourse the management of the stoploss is all dependend on your tradestyle as a whole, so no hard rules can be given. It's the whole combination of entry, exit, trademanagement and moneymanagement which must have a positive NPV.