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- danno96 replied Sep 4, 2009
Hi ACE, I just clear my plate, ready and keen to backtest your new strategy.
- danno96 replied Sep 2, 2009
Thanks Pharoh, I've to agree, after looking at your hedging approach to already a great system from ACE. Have turn a great system to a dynamite system - minimise Risk and maxminise Rewards. I think your approach will also allow for multiple re-entry ...
- danno96 replied Sep 2, 2009
Thanks again Pharoah, Have you done any back testing back to 2002? Any chance of sharing your backtesting results?
- danno96 replied Sep 2, 2009
I believe backtesting is important, not only on how the system work under different market dynamic but more importantant it build up a self belief that the system give you an edge to be able to take pips out of the market consistantly. I've ...
- danno96 replied Sep 2, 2009
Thank Pharoah for a great system. But can you explain your method in hedging in more details maybe with an example. I've done a lot of back testing on Ace's system from current time back to 2002. I'm intested to see if your approach would save those ...
- danno96 replied Aug 27, 2009
Thank tazmaan, I'll do that.
- danno96 replied Aug 27, 2009
No computer skill, not a programmer. I did all that work manually over the chart. That why there may be a few errors and not 100% accurate but close enough for my needs I'm with FXDD, how does position size option work with the broker? I simply look ...
- danno96 replied Aug 27, 2009
1) I don't set the TP and leave open. I manually move my SL (1) to BE +20 when TP1 hit, (2) move SL to TP1 when TP2 hit, (3) move SL to TP3 when TP4 hit and finally close at last hour for the week if profit run and never retrace back to hit the TP3 ...
- danno96 replied Aug 27, 2009
You can go to history centre under Tool and download the require data.
- danno96 replied Aug 27, 2009
This year is not good to test as it is not ranging. Try and back test this in 2005 (752 pips for the whole year) and 2002 (562 pips for the whole year) to see if it improve the performance.
- danno96 replied Aug 27, 2009
I mean once compounded to a bal of $182K you would be trading $18/pip assuming 100 avg pip range.
- danno96 replied Aug 27, 2009
Yes, I'm trading live this month. I'm planning to rerun my backtest with taking partial profits. The issue with ranging periods is how do you know when they start and finish and therefore adjust the startegy according, ie the 1st 4 months of 2008 ...
- danno96 replied Aug 27, 2009
Yes , I notice that too. I also try to reduce SL to 50% once price move 75% to TP1 and that not a good idea either as it is too time consuming and when price break pass 75% of TP1 it usually go and hit TP1 anyway.
- danno96 replied Aug 27, 2009
That was me just playing with different variations but thinking if I implement too much variations. It would require constant monitoring and time consuming. I''m not discipline, so the less time to watch the market trade the better. Save me from my ...
- danno96 replied Aug 27, 2009
Let put this in prespective, starting with $10,000 account risking only 1% per trade projected using my backtesting results from 01/01/2002 to 10/08/2009 missing 2004 due to bad data would have netted $182K compounded (trading $18/pip). However, ...
- danno96 replied Aug 27, 2009
The results excluded week with +200 pips range.
- danno96 replied Aug 27, 2009
Shiko, Normally the average range is about 130 pips, but sometime the range can be quite large for example week starting 17/03/2008 the range is 521 pips which SL - why risk the trade with such a large range. I trade with a standard account with min ...
- danno96 replied Aug 27, 2009
Box range including the buffer as well.
- danno96 replied Aug 27, 2009
Back testing results — Hi All, I've complete my back testing results back to 2002. Thank Ace's for this simple and stress free strategy. I try to keep it as simple as possible based on ACE's original approach with minor variations to meet my ...
- danno96 replied Aug 21, 2009
Hi Shiko, Totally agree with you, this system is simple, mechanical and objective with no indicator, - KISS. The more the variations, the more the time require to manage the trades and more room to made errors. The key to this system is good money ...