DislikedNew trades placed while market at 1.5602...my long was hit within a minute at 1.5610...Here we go again.Ignored
Should your first long entry be 620? Maybe I am not understanding the multiples of 20 rule.
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DislikedNew trades placed while market at 1.5602...my long was hit within a minute at 1.5610...Here we go again.Ignored
DislikedShould your first long entry be 620? Maybe I am not understanding the multiples of 20 rule.Ignored
DislikedFinal Results:
Pickep up 539 pips. Had I held from beginning until end I would have made about 700. SO I gave up 160, however, I feel it was the right way to trade with the news coming out, etc. I will re-enter shortly and post my re-entry later.
ISY,
WHat I was wondering was whether we have any statitics on which days of the week this actually works better. I dont know that Wednesday would be best, even if largest move. In fact, maybe Wednesday is the worst due to sucha large move??Ignored
DislikedHi Isydeb !
Regarding Money Management you're referring to the Unit concept
of Oanda.
How would you define the max. tolerable risk per trade by using MT4 ?
Let's assume my trading capital is 10.000 US$.
I open simultaneously 5 long and 5 short trades.
My max. Risk per trade would be 3% of my account.
These are 300 US$ => 30 US$ / trade (max. 10 positions)
How do I handle now my trading risk without stop loss ?
Greetings and happy pippin
Bernhard from EurolandIgnored
DislikedI sumed up total pips of each long and short order and realized the 80%-90% of profit is from long positions. if you simply long from the begining of 2007, the outcome will be essentially the same. Getting rid of 20 pips short alone would save 1500 pips. The only shorts that made money are 80 and 100 pips orders. I think a simpler version of this system is long after 20 pips up and short after 80 pips down for 2007 and 2008 maybe. Just set 2 orders each day. What do you think?Ignored
DislikedHi isydeb
Without the revised strategies you posted later, I do think the "core version" is no more than a Coin Flip game. Just let's go back for several days (I am using AlpariUK-Demo GMT+1 data) and assume the spread is 1 pip.
Date Open High Low Close Long_from Orders_triggered Short_from Orders_triggered Result
2008.03.27 1.5834 1.5845 1.5726 1.5812 1.5840 1 1.5820 5 -184
2008.03.28 1.5811 1.5838 1.5741 1.5794 1.5820 1 1.5800 4 -155
2008.03.31 1.5805 1.5896 1.5759 1.5761 1.5810 5 1.5790 2 -404
2008.04.01 1.5762 1.5785 1.5563 1.5624 1.5770 1 1.5750 5 288
2008.04.02 1.5623 1.5623 1.5588 1.5602
You will find ONLY 1st Apr wins.
I also backtested from 03/03 to 01/04, with 7 win and 15 loss, the final balance is -42. Max. DD is -1304.
I understand the "core versions" is only to introduce some basic concepts of your strategy, just want to add some points and contribute a little to this thread
Cheers,
suwumingIgnored
DislikedHi, interesting approach.
Let's think for a minute. What would the market have to do for this system to fail? A continuous streak of your "worst case scenarios"?
How likely is this to happen? As has been mentioned before a meandering sideways market might be a killer depending on how much human intervention was applied re exits etc.
Is an extended period of sideways motion that far outside the bell-curve? I'm thinking of Long Term Caital Management's probability of failure. They reckoned on seeing market moves like the one that crushed them every 100,000 years or something. I think it happened within about 5 years!!! (OK, fair enough, they were super over leveraged...).
I don't think the losing streak would have to be particularly long.
Not being a pessimist, just using a system development tool to make this better
Go Euro Go!!!Ignored
DislikedWell unlike yesterday, this morning I awoke to -200 pips. As of now I have 3 trades executed onboth sides. My shorts are extremely negative hile my longs are only slighly positive. I can still recover if it swings in one direction during ths US hrs. Wehave some big US news today. IF I were up I would have been outbefore news, now I think it pays to stay since a mov in either direction can save me now.Ignored