I thought I would post this here, since it pertains to range trading, although this response was in the trending thread.
I went back to my CTR 1H trade results and did a review of the data. Actually, should have done this along time ago, but wanted to see if my perception of the AUD/NZD was correct. Actually, it was not that bad, but the negative part of the perception is one trade I needed to go to L3 to recover, so that probably stuck in my head vs. the shear % of trades which you need to recover from. Anyway, from the time CTR came out to end of summer, here are some results from 7 pairs listed by:
Trades with no recovery needed / Trades needing recovery / % of trades with no recovery
GBP/CAD - 16/3 - 84.2%
AUD/NZD - 19/3 - 86.4%
NZD/JPY - 17/2 - 89.5%
CAD/JPY - 24/2 - 92.3%
NZD/CAD - 14/1 - 92.8%
USD/JPY - 12/0 - 100%
EUR/GBP - 48/0 - 100%
The GBP/CAD & AUD/NZD were the worst performers of my group, as well as once they got away, they ran into L2 and L3 for recovery. The others in the group just moved to another level and just ranged again, so recovering from those were much easier. No doubt the EUR/GBP seems to be the ultimate range trading pair. After seeing this information and for some fun, I think I will demo the CTR 1H in the "trending" market times and see if the results are similar and increase the lot size a bit on the EUR/GBP.
Hope the above is helpful. Next summer when I am definitely back into range trading, I am going to steer away from the AUD/NZD and GBP/CAD.
Best of trading to all.
George
I went back to my CTR 1H trade results and did a review of the data. Actually, should have done this along time ago, but wanted to see if my perception of the AUD/NZD was correct. Actually, it was not that bad, but the negative part of the perception is one trade I needed to go to L3 to recover, so that probably stuck in my head vs. the shear % of trades which you need to recover from. Anyway, from the time CTR came out to end of summer, here are some results from 7 pairs listed by:
Trades with no recovery needed / Trades needing recovery / % of trades with no recovery
GBP/CAD - 16/3 - 84.2%
AUD/NZD - 19/3 - 86.4%
NZD/JPY - 17/2 - 89.5%
CAD/JPY - 24/2 - 92.3%
NZD/CAD - 14/1 - 92.8%
USD/JPY - 12/0 - 100%
EUR/GBP - 48/0 - 100%
The GBP/CAD & AUD/NZD were the worst performers of my group, as well as once they got away, they ran into L2 and L3 for recovery. The others in the group just moved to another level and just ranged again, so recovering from those were much easier. No doubt the EUR/GBP seems to be the ultimate range trading pair. After seeing this information and for some fun, I think I will demo the CTR 1H in the "trending" market times and see if the results are similar and increase the lot size a bit on the EUR/GBP.
Hope the above is helpful. Next summer when I am definitely back into range trading, I am going to steer away from the AUD/NZD and GBP/CAD.
Best of trading to all.
George