I found this system on another forum, and it looked very interesting. It is a very simple "set it and forget" type system, and it has been performing fairly well.

I was hoping that Merlin or someone else with the resources and capability could do some backtesting on it.

Here are the rules:

At 5PM EST Sunday-Thursday:

1- Close out any open positions

2- Cancel any unexecuted orders

3- Set an Entry Buy order 1 pip above previous day's high (We are now taking the spread into consideration on BUY orders)

4- Set an Entry Sell order 1 pip below previous day's low

5- Based on our discussion set stops and limits using the following guidelines:

50 pip limit/25 pip stop if ADR ABOVE 200

40 pip limit/20 pip stop if ADR BETWEEN 175 and 199

30 pip limit/15 pip stop if ADR BELOW 175

ADR BELOW 100 -> Gone Fish'n

Account balance $300-$599 1 mini lot

Account balance $600-$1199 2 mini lots

Account balance $1200-$2399 4 mini lots

Account balance $2400-$4799 8 mini lots

Account balance $4800-$9599 1.6 lots

Account balance $9600-$19199 3.2 lots

Account balance $19200-$38399 6.4 lots

Account balance $38400-$76799 12.8 lots

Account balance $76800-$153599 25.6 lots

Account balance $153600-$307199 51.2 lots

Account balance $307200-$614399 102.4 lots

Account balance $614400-$1228800 204.8 lots

This system was devised for the GBP/USD, but you test it on other pairs to see if it will work. Also, you might try different stops and limits such as just 40/20 or even a totally different value like 32/16.

Anyway, the group from the other forum have been trading it live with some success, but I would like to see some backwards testing before I give it a try, just so I can trade with confidence.

Thanks.

I was hoping that Merlin or someone else with the resources and capability could do some backtesting on it.

Here are the rules:

At 5PM EST Sunday-Thursday:

1- Close out any open positions

2- Cancel any unexecuted orders

3- Set an Entry Buy order 1 pip above previous day's high (We are now taking the spread into consideration on BUY orders)

4- Set an Entry Sell order 1 pip below previous day's low

5- Based on our discussion set stops and limits using the following guidelines:

50 pip limit/25 pip stop if ADR ABOVE 200

40 pip limit/20 pip stop if ADR BETWEEN 175 and 199

30 pip limit/15 pip stop if ADR BELOW 175

ADR BELOW 100 -> Gone Fish'n

Account balance $300-$599 1 mini lot

Account balance $600-$1199 2 mini lots

Account balance $1200-$2399 4 mini lots

Account balance $2400-$4799 8 mini lots

Account balance $4800-$9599 1.6 lots

Account balance $9600-$19199 3.2 lots

Account balance $19200-$38399 6.4 lots

Account balance $38400-$76799 12.8 lots

Account balance $76800-$153599 25.6 lots

Account balance $153600-$307199 51.2 lots

Account balance $307200-$614399 102.4 lots

Account balance $614400-$1228800 204.8 lots

This system was devised for the GBP/USD, but you test it on other pairs to see if it will work. Also, you might try different stops and limits such as just 40/20 or even a totally different value like 32/16.

Anyway, the group from the other forum have been trading it live with some success, but I would like to see some backwards testing before I give it a try, just so I can trade with confidence.

Thanks.

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