twismo
Long

BTC/USD Short Turtle S1 Breakout trigger (20-Sep-18)

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
For details of the strategy used for this trade (and historic performance) see linked trade below.


BTC has jumped above it's 20 day high so I have entered into a long position (P1). Levels for P2, P3 & P4 are shown on chart.
As always position size is 1N. Stop Loss is at 2N (2% of portfolio size). Exit at 10 day low (lower than SL so not in play currently).

I will post updates below, so please follow!!

This is not investment advice. Please always do your own research. If you are interested in this trade or the Turtle strategy in general then please follow me and my turtle trades.
"Luck is what happens when preparation meets opportunity"

If you want to know more about Turtle trading then follow me and my trades. If I get enough people interested I can update TradingView more frequently with my levels so people can copy trade. Peace.
Comment: Exit (10 day low) moved up to 6330 and is now above the SL so is now active. Maximum loss on open position reduced to 1.54%.

Note that volatility is reducing so the quantity being placed on remaining positions yet to activate (i.e. P2, P3 & P4) has increased and the trigger prices has reduced. See levels below compared to original levels above:

Trade active: The 10 day low has risen to 6381 as shown below so I have moved the exit to this level. Trigger levels for P2, P3 & P4 have all moved down also as the ATR (volatility) has been narrowing over the past week. The longer the accumulation/consolidation lasts the bigger the squeeze will be when it breaks out.

Comment: 10 day low moved up to 6423. P2, P3 & P4 lowered slightly due to further reduction in the ATR - All updates shown below.

Maximum loss on open position is now 1.18%.

Trade closed: stop reached: Stop Level reached at 6405.2. Total loss on trade of 1.25%.

Total gain on all Turtle trades (see linked idea below) of 23.38%.
past 20 day high seems higher in your chart as per past 20 bars, right ? how did price breakout... wud love to know mate...?

how do we calculate SL ..using ATR ?
tHANKS
Reply
twismo Piedpiper25
@Piedpiper25, Hi - sorry for delay in responding. I have been travelling. I had a trigger to buy on a 10 day high in the trade above which was an error - I must have been sleep trading!! The strategy I follow trades on a 20 day breakout but exit trades on a 10 day breakdown.

The SL is equal to 2N. ATR is 1N so SL is placed at 2*ATR above or below the breakout price. E.g. If ATR is 300 and breakout is long at 6000 then SL will be at 5400. Or if ATR is 500 and breakout is short at 5000 then SL will be at 4000. Keep in mind that as the volatility changes the ATR will change and this also changes the position size as per the example above.
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@twismo, Thanks bro....appreciate the detailed reply.
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