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-   -   Weekly 100's GBPUSD strategy (https://www.forexfactory.com/showthread.php?t=27526)

Scientist Apr 28, 2007 8:27am | Post# 1

Weekly 100's GBPUSD strategy
 
This was inspired from studying TKimble's weekly method and yezbick's hedging.

At the start of the week enter a buy stop 100 points up and a sell stop 100 points down. At the end of the week close either that is in profit for at least 100 points. If both are triggered, no worries, close the one in profit (if profit is at least 100 points, if not do nothing) and enter the next week with +1 lot of what you closed so if we closed a buy the next week we will have 2 lots buy stop 100 pips up and a 1 lot sell stop 100 pips down.

When we accumulate sells in an uptrend we are looking for a reversal after we closed all the buys, so for instance we have 5 sells active, next week we set a buy stop for 5 lots 100 pips up. If we are at the top of the trend the buys will not be activated so we have 5 sells working for us instead of just using a SL of 200.

The 200 points straddle and taking at least 100 pips profit works nice filtering ranging conditions and whipsaws so we won't accumulate too many buys and/or sells.

Close everything when in profit.

Any comments or improvements are welcomed.

Scientist Apr 28, 2007 8:30am | Post# 2

1 Attachment(s)
Here is a weekly chart for your convenience
Click to Enlarge

Name: gu.jpg
Size: 40 KB

billbss Apr 28, 2007 9:01am | Post# 3

Scientist,

Sounds interesting.
Have you done any manual backtesting on it?

Thanks

Scientist Apr 28, 2007 9:12am | Post# 4

Scientist,

Sounds interesting.
Have you done any manual backtesting on it?

Thanks
Nope, only visual.

skyline Apr 28, 2007 5:30pm | Post# 5

It seems interesting but I don't get it completely. Could you give some examples on a chart ?

thx

drayco Apr 28, 2007 8:32pm | Post# 6

Close everything when in profit..
I suppose you mean enter at the beginning of the week and exit or 'close everything when in profit' only at the end of the week, and do nothing else during the week?

Mina Apr 28, 2007 9:00pm | Post# 7

It seems interesting but I don't get it completely. Could you give some examples on a chart ?

thx
I don't get it either

Scientist Apr 29, 2007 5:36am | Post# 8

I suppose you mean enter at the beginning of the week and exit or 'close everything when in profit' only at the end of the week, and do nothing else during the week?
Thats right.

eagle Apr 29, 2007 1:31pm | Post# 9

info italy
 
hello to be able to help with a small mirror I not to succeed translate they are Italian.
thanks
marcidibe@hotmail.com

TradeStar Apr 30, 2007 12:20am | Post# 10

I don't get it either
me too. Can you walk through with an example?
Thanks.

Scientist Apr 30, 2007 4:12am | Post# 11

I will be away for a few months starting next week and will not have internet access but I will post some trades when I get back. In the mean time try to demo trade for some time and you will start getting it.

Good luck and never give up.

WHTenn Apr 30, 2007 6:01am | Post# 12

Confused, you just started a thread and now your going to be gone for a few months?

goonergonebad Apr 30, 2007 6:44am | Post# 13

I am confused too!
 
1 Attachment(s)
I have created a small spreadsheet showing last 4 weeks of cable with profits taken over and above buy or sell positions, a max 100 point stop loss for the week and 10 per pip stake (2 lots approx.).

I realise that you have some sort of carry over buy\sell more lots strategy but need to understand the basic concept first. Am I on the right lines?
Click to Enlarge

Name: last4weeks.jpg
Size: 55 KB

Scientist May 1, 2007 5:21am | Post# 14

I have created a small spreadsheet showing last 4 weeks of cable with profits taken over and above buy or sell positions, a max 100 point stop loss for the week and 10 per pip stake (2 lots approx.).

I realise that you have some sort of carry over buy\sell more lots strategy but need to understand the basic concept first. Am I on the right lines?
Looks fine so far.

Dreamliner May 5, 2007 9:51pm | Post# 15

What currency, what timeframe, what recommended risk per account size? You're going away after just starting this? What is up???

This is like saying:

Open some positions above and below and close them and take profit sometime. Back test and you'll see what I mean.

One thing that is really really important when you communicate in writing. Be clear! Anticipate questions! Make things easy for your readers so that you don't get 1,000 questions. OK, that is more than one thing, but I hope you get the point!

Now, since the author of this "system" has decided to not post for several months, is anyone trading this "method" that can help us understand what he was trying to say? Anyone know what currency pair he was recommending?

This was inspired from studying TKimble's weekly method and yezbick's hedging.

At the start of the week enter a buy stop 100 points up and a sell stop 100 points down. At the end of the week close either that is in profit for at least 100 points. If both are triggered, no worries, close the one in profit (if profit is at least 100 points, if not do nothing) and enter the next week with +1 lot of what you closed so if we closed a buy the next week we will have 2 lots buy stop 100 pips up and a 1 lot sell stop 100 pips down.

When we accumulate sells in an uptrend we are looking for a reversal after we closed all the buys, so for instance we have 5 sells active, next week we set a buy stop for 5 lots 100 pips up. If we are at the top of the trend the buys will not be activated so we have 5 sells working for us instead of just using a SL of 200.

The 200 points straddle and taking at least 100 pips profit works nice filtering ranging conditions and whipsaws so we won't accumulate too many buys and/or sells.

Close everything when in profit.

Any comments or improvements are welcomed.

Dreamliner May 6, 2007 2:39pm | Post# 16

Clarification
 
Well now I do see from the title of this thread that this "strategy" is on GBP/USD, but can anyone clarify this strategy? For instance:

1. At open of weekly market, enter a buy 100 pips above, and a sell 100 pips below the open price.

2. At end of week, close any position that is 100 pips profit or more. Let the other position run.

3. At open of next week, double the position you closed. In other words, if your "buy" position was 100 pips profit or more and so you closed it at the end of the week, at beginning of next week open 2 lots at 100 pips above market open price, and 1 lot at 100 pip below.

Is this all correct?

eagle May 7, 2007 5:49pm | Post# 17

info
 
but it works? to have been tried?
best regards
eagle

Dreamliner May 7, 2007 6:49pm | Post# 18

but it works? to have been tried?
best regards
eagle
I'm sorry, what is your question?

eagle May 7, 2007 7:20pm | Post# 19

marcello italy
 
method to be working? to be ok?

Dreamliner May 7, 2007 7:28pm | Post# 20

method to be working? to be ok?
No, it is not working, because the initiator of this system posted and them very quickly said he had to be gone for several months, and his posting was so unclear that we do not understand what he meant.


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