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Patriot Road

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nittany1
850
nittany1  

Patriot Road version 1.0

First off let me tell you I'm not a professional trader working in some fancy

ebony furniture lined office in a 50 story building in some penthouse suite.

I'm a regular guy trading at home in my home office with a computer I built

myself with parts I bought I found on pricewatch.

I've been trading for several months on a demo account, the past month on

a live account. Previously I have about 6 years experience trading stocks

live. After trying various manual trading systems and failing because they

are overly complex I knew I had to do something. I had to come up with

something with easy to understand charts.

My thing is, if I can't understand what's going on within about 10-15 seconds

I get shy and don't trade. I had to come up with something to accomodate that

tendency. I'm not alone, I've talked to other at-home traders and they say

similar things. Consequently, my benchmark is that if I can't explain how to

use a manual trading system within less than a minute, it's probably

too complex.

HOW-TO

Indicators on chart

-------------------

* The red, white and blue is called The Patriot. It's a 62 SMA.

* The skinny red lines with the blue dashed line is called The Road.

It's a Keltner Channel.

* madro helps with trending and suggests signals.

* GMACD tells you trending on other timeframes at a glance.

Rules

-----

If the price action is above The Patriot, the trend is up. If the price

action is below The Patriot the trend is down.

(quickie: above blue is buy, below red is sell)

Think of the price action as a car driving down The Road. In real life if

you're driving down the highway and you find yourself driving in the grassy

median you're going to want to get back on the highway. That's how the price

action is with The Road, you'll see it wanting to snap back to the

middle of The Road.

Don't always pay attention to the trade signals in madro, if the price

action is outside of The Road too long, remember, it'll snap back.

If you are on a 1 min chart and The Road is smaller than The Patriot,

your price action is sideways, make no trades. If you are on a 1 hour chart

and The Patriot looks like it's squeezed together and The Road is waaay off

to one side, trade confidently with the trend.

Futhermore

----------

madro will help you with your trades by showing you how long a trend has

been going on the chart you're looking at. Blue for buy, red for sell

along the bottom. I made the arrows blue and red too.

GMACD will give you some trending information about other timeframes without

having to go back and forth between charts.

Where to Put Stuff

------------------

The three .mq4 files belong in ~\experts\indicators where ~ is the folder

where you installed your MT4 trading software during installation.

The one .tpl file belongs in ~\templates where ~ is the folder where you

installed your MT4 trading software during installation.

In Closing

----------

Let me know how to improve this manual trading system. If you find

success let me know on the forums. If you have traded it successfully

with consistency, maybe we can make it into an EA. I have very minimal

programming skills so I would need your help with that, if you have

programming skills. My skill has always been with strong pattern

recognition.

thesource
476
thesource  

Ea

I have an EA that covers the basic logic of the system. I just have problems with the order placing.

I will have a look at it again according to your set-up.

If we can incorporate the rules for no trade it should save some irrational trades. Give me a week to just work on it.

nittany1
850
nittany1  
thesource:
I have an EA that covers the basic logic of the system. I just have problems with the order placing.

I will have a look at it again according to your set-up.

If we can incorporate the rules for no trade it should save some irrational trades. Give me a week to just work on it.

OK cool. Maybe I should delete this thread before it gets out of hand having two threads with the same system on it, heh.

thesource
476
thesource  

No Leave it

This is nice thread.

The Time Bomb started loosing pace due to the EA being dropped. I think this a good starting point for new traders. I fully encourage the clean look.

Just do a daily report on your trades with a visual. It'll provide great material for new traders and I usually learn something new LOL

Have a greeat week

nittany1
850
nittany1  
thesource:
This is nice thread.

The Time Bomb started loosing pace due to the EA being dropped. I think this a good starting point for new traders. I fully encourage the clean look.

Just do a daily report on your trades with a visual. It'll provide great material for new traders and I usually learn something new LOL

Have a greeat week

Thanks! I actually did spend a lot of time on trying to get it to present information cleanly, so I'm glad it came through that way.

Yeah, I agree, I always learn something new too.

marcfischbein1
120
marcfischbein1  

What kind of success have you been having with this, overall? What would you say in your opinion has been the best time frame?

Thanks..

Marc

nittany1:
Thanks! I actually did spend a lot of time on trying to get it to present information cleanly, so I'm glad it came through that way. Yeah, I agree, I always learn something new too.
PowerTrader
345
PowerTrader  

Familiar

This looks very familiar to the River Trade I posted. 62MSA and enter when price crosses. Proves my point about this trade, it has and will be traded for a long time and with almost the same setup.

I would take care that entry needs to be defined. Is it when price croses over blue or red line? In my time trading the River, there will be times when price will back right up into your road. There must be filters to determine the best time for entry. In addition, do you have a defined exit strategy?

Good luck,

PT

droesparky
753
droesparky  

I like the name!

The trade has been around forever. I know Rob Booker followers know of this type trade, but Rob didnt wait so long he would enter on the break of the 62.

It dosent matter where you enter there will be whips at times, then if you hang with it youll catch the runs.

If yo plot just the 62 on a chart youll see there comes a time when there is congestion, and there comes the times when the run comes. Sometimes in a run price will come back to the 62 and thats a time to take it in the direction of the last run. It will eventually cross back across the 62 and thats when You reverse if your in or stop out.

Like I said at the start I like this one because of the name. Boyah!!!!

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