DislikedHi my friend Iced Earth , regarding to this quastion
2- when you set up your pending orders?
He answer it
2) 06.00GMT on Monday.
Thanx for you mades for sharing your system.Ignored
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DislikedHi my friend Iced Earth , regarding to this quastion
2- when you set up your pending orders?
He answer it
2) 06.00GMT on Monday.
Thanx for you mades for sharing your system.Ignored
DislikedThanks you WEDWED, so if we start the system after opening of the week we can not obtain openning gap pips, can we?Ignored
DislikedNo we can't. And im not even interested in gaps, because eventhough gaps get always eventually filled, it might take weeks, even months to do to it with significant drawdown (check 2008 charts, happened more than once).Ignored
DislikedHi mades, hi folks,
I cannot trade it constatnly because a have a day job. My problem is, that I cannot monitor the market all day to set and modify my orders.Ignored
DislikedHey Mades,
Good luck with your trading, i will be watching closely,
I too follow Joel's trading methods, have been since october last year.
I do hope your modification works, and doesn't end up being a form of curve fitting, please don take me the wrong way , i just wonder how you came up with the stop loss and take profit amounts?
any way good luck.
cheers
geoffIgnored
Dislikedhey Geoff,
i'll tell you how i came up , i tried them blindly First i thought of 50/100/300 but i considered that 300 pip takeprofit would not be hit most of the weeks so i reduced it by 10 pips and again 10 pips (40/80/240 and 30/60/180). Then i realized that once an order gets hit and we can reduce the stoploss by 1/4, (100 to 75, 80 to 60, 60 to 45), it won't affect vast majority of positive weeks and i will be able to reduce the takeprofit which basically means, that the chance of takeprofit being hit grows again. When i did the backtest,...Ignored
DislikedAnyway, here are the key points:
Spread - 20% of previous weeks range
SL - twice the spread - so once on order is triggered and SL is hit, without me being able to trail, the position is reversed
MM - I risk a total of 2% per currency pair per week. trading with the trend I risk 75% of the 2%, trading against the trend I risk the remaining 25%, if I canīt determine a trend, every trade gets 1% risk
Trend determination - If SMA10 > SMA40 - uptrend, vice versa downtrend, if both SMAs to close - no trend
Stop-System - 4 different stop types
Initial...Ignored
DislikedDaBuschi;
I would like to put together an EA for your take on the strategy, but I don't totally understand your rules. Please explain what it is you mean by spread? Here is my understanding of Spread:
GBPUSD on IBFx Last Week:
High: 1.5372
Low: 1.4427
Last Weeks Range ("LWR"): 1.5327 - 1.4427 = 945 pips
Spread ("SP"): 945*0.20 = 189 pips.
What are your entry rules?
TimeFreedomIgnored
DislikedDid you start wth your present volatility spread and MM, or has it evolved and been tweaked over the course of your forexfabriek thread ?Ignored
DislikedI see your equity curve has one huge run-up and is more or less flat either side : how do you feel that compares with the "standard" FS+ / ONS combo (which is over here for those who have no idea what we're talking about : http://infiniteyieldforex.blogspot.com/ )?Ignored
DislikedDid you consider MM that increases and reduces risk with winning / losing streaks and how did you arrive at your trend-based positon-sizing ?Ignored
QuoteDislikedWell, to make a long story short - it also works with all the other days,
DislikedThanks, DaBuschi, for a very informative reply.
You're probably aware that there have been quite a few Daily breakout methods posted on various forex forums in recent years (eg. Hans123) : some do very well when Mr Market is feeling benevolent.Ignored
DislikedWell, I am, but people (including me) tend to believe things being said by someone who seems to know what heīs talking about. And although Joel never literally said, that it only works on mondays, everyone reads that between the lines, when heīs saying, that we try to take advantage of the fact, that it happens that the big money determines a trend at the beginning of the week and never looks back. It sure does happen in about 20% of the time, which leaves around 20% for every other day of the week
For me, it was my backtests that reminded...Ignored