yes sold here tp hit +12Orid
awesome guys...... I'm the only dick that didn't take it 
- | Joined May 2007 | Status: Member | 185 Posts
I also got +11 on demo...not bad for 2 days on a row!
Patience, let the market come to you!
Well, I got in a bit late and of course out a bit early, so only 8.9 pips. Looks like it was more of a news trade (red for the GBP coming up), so just lucky I guess...
wow! freakin home run today, price now coming into it's ADR zone and S3.
I got totally shafted by my own brain today, jeezzz I gotta get more monotone.
So the question remains about how do we profit from days like this when price is running away and we're on that same wave? (well some of us)
What's out there that works?
I was going to break my trade up today as I said, 2 trades and let one roll..... perfect example today of what that could add to our accounts. The roller trade has collected 4X the normal TP of 10, that's +3 wins.
Yesterday it didn't work, you'd have BE on that 2nd trade and you'd have lost a 1lot going to 1st target.
Which is statistically better?
I like the 'Partial' approach but these breakout days need to be frequent. Something to test.
I also need to be in the ruddy trade.
Nice thread Quidsey.
Based on previous comments I've backtested this strategy, incorporating a straddling (OCO) entry method. My parameters are:
1. Enter long 3 pips above close of 07:55-08:00 [UK time] bar OR
2. Enter short 3 pips below close of 07:55-08:00 bar
3. Cancel order if no trigger by 08:15
4. Don't trade red 8am news releases (eg flash manufacturing) or on bank holidays
So this means there'll almost always be a trade. The advantage being that it still captures big moves where price has continued along Frankfurt trend and refused to fake-out (it can happen).
Based on 7 weeks of back-testing the results are encouraging: drawdown consistently ranging from about 2 to 4 pips, and about 75% success for targets of 5-9 pips (not including spread).
I've started forward-testing as of this morning. Points on the board already.
Based on previous comments I've backtested this strategy, incorporating a straddling (OCO) entry method. My parameters are:
1. Enter long 3 pips above close of 07:55-08:00 [UK time] bar OR
2. Enter short 3 pips below close of 07:55-08:00 bar
3. Cancel order if no trigger by 08:15
4. Don't trade red 8am news releases (eg flash manufacturing) or on bank holidays
So this means there'll almost always be a trade. The advantage being that it still captures big moves where price has continued along Frankfurt trend and refused to fake-out (it can happen).
Based on 7 weeks of back-testing the results are encouraging: drawdown consistently ranging from about 2 to 4 pips, and about 75% success for targets of 5-9 pips (not including spread).
I've started forward-testing as of this morning. Points on the board already.
{quote} ..... there's a bit of luck in a lot of things
tbh im happy targeting just 10 pips a day , make lots mulla on that
Nice thread Quidsey.
welcome along.Nice find, keep us informed of your results. Try it on Jan Feb if you can, those were not easy months as far as I can see.
I'll be honest OCO's are not personally the way I want to trade, I've been there and not had much fun, but if you can make it work that's cool.
A real mover today, hope this is the way forward.
I didn't get a chance to try this morning but the whole system is looking really good. Was thinking... If a Stop Loss was placed say 10 pips from entry price and is hit, if the current past price movement shows that there's atleast a good 10-18 pip movement at that time of movement then I reckon a Pending Trade should also be placed at the Stop Loss to capture the reverse move to gain atleast 8-10pips. Also I've just been experimenting with SQLite in MT4 which I've managed to get working so thinking of writing an indicator which takes the 15 EMA...
I'd really like to keep things simple so that the strategy stays focused and straightforward for people to trade. I want this to be a robust method of making money for everybody, myself included. Don't want to get on my high horse about it
Your findings on the EMA should be interesting. :nerd:
- Joined Oct 2008 | Status: Perpetual Student of the Charts | 947 Posts
{quote} Wow pending order at the SL! like I said Ned, personally something like that would have to be automated for me, I'd get confused. I'd really like to keep things simple so that the strategy stays focused and straightforward for people to trade. I want this to be a robust method of making money for everybody, myself included. Don't want to get on my high horse about it
You are also absolutely correct in identifying this as completely separate from your system. Your system identifies trade setups for profits with an acceptable level of risk and should be used, and tested, as such. The loss management system has to be viewed, and tested, on its own merits because it has a completely different function, reducing the impact of a losing trade upon equity.
This goes back to my training. I will always try to prevent loses by utilizing trading methods that give me a good chance of consistently showing a profit, and if there is a losing trade, either take the first smallest possible loss or have management in place to reduce it under acceptable conditions. In the time that I managed floor operation for a brokerage firm this was so important with the "error" account. There had been those that turned small acceptable losses into large losses that could harm the firm because of poor management, or even destroy a bank ie Barings Bank. Rule # 1 "PRESERVE THY CAPITAL"
GREEN pips to all.
Thanks ST, appreciate your input. Any professional I've come into contact with over the years has always talked more about loss than profit. Totally get where you're coming from in regards to capital.
One of the things I like about the opening trade is that it often resolves itself quite quickly, that's to say, if price doesn't start moving the way we want fairly swiftly we're either in chop or we're in the wrong way. Not always the case but often. Either way there is time to look to reduce risk. As it stands at the moment we could move from -10 to -5pip or up near the candle that's gone against us.
There is also the possibility to reverse position of course. The risk is you might get it wrong twice. I'm certainly capable of over thinking a trade.
Btw what winning method/s are you using ST?, just curious
The backtesting I'm doing on the rolling trade seems very positive, there are definitely gains to be had, just need to find the best way of managing it.
One of the things I like about the opening trade is that it often resolves itself quite quickly, that's to say, if price doesn't start moving the way we want fairly swiftly we're either in chop or we're in the wrong way. Not always the case but often. Either way there is time to look to reduce risk. As it stands at the moment we could move from -10 to -5pip or up near the candle that's gone against us.
There is also the possibility to reverse position of course. The risk is you might get it wrong twice. I'm certainly capable of over thinking a trade.
Btw what winning method/s are you using ST?, just curious
The backtesting I'm doing on the rolling trade seems very positive, there are definitely gains to be had, just need to find the best way of managing it.
- Joined Jun 2014 | Status: Invisible | 1,393 Posts
If you look at how "easy" it would have have been to just wait first to get some distance to the PA and then follow along the Kijun and then the inside Kumo: 50 Pips... 
All the best pips to you all
All the best pips to you all
