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DislikedInteresting concept... Similar to my concept here: http://www.forexfactory.com/showthread.php?p=8486751 Have you backtest it? Can you explain why 100/200 pips? Good luck, Regards. ZIgnored
Disliked{quote} Hi Z, The 100 pip step is approximately 1/4th to 1/3rd of the weekly EURAUD and EURCAD ATR over the past 5 years. The manual backtest results were good; the monthly gain ranged from -2% to 8% over a 3 year testing period; average monthly gain was ~3.5%, but in reality the only important "test" is forward testing, which is the purpose of this journal... Dave.Ignored
Disliked{quote} Hi Dave, A chart would be useful to explain the concept. Regards ZIgnored
For example:
I currently have 3 open EURCAD trades. Let's say next week the EURCAD plummets and all three trades go into DD. At this point, if the EURCAD drops below its 10-week EMA, no other EURCAD buy positions will be opened (see post #1). However, if the EURCAD plummets so will the EURAUD (due to their high directional similarity). And if the EURAUD plummets below its 10-week EMA, this will open EURAUD sell positions at 100 pip step intervals (post #1). If the market continues to fall, the three EURCAD buy positions will continue to lose pips, but EURAUD sell trades will sequentially open and gain pips. The number of EURAUD trades that will remain open to balance the EURCAD positions = 4. Once the net P/L of these 7 positions = $0 (~net positive 50 pips), those trades will be closed. Meanwhile, EURAUD sell positions will continue to open if the market continues to drop, and these positions will net a positive P/L. Obviously, if the market bounces in a range it takes a bit longer to net the floating P/L of the losing positions to $0. But this works surprisingly well to keep the DD within a very manageable level while slowly increasing the NAV.
Best,
Dave
DislikedHello Dave! Very interesting concept... Been playing with something similar on AU for over a year on demo account but your system is way better. Will be following with interest))Ignored