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Manual Backtesting Charts

  • #61
  • Oct 1, 2006 11:13pm Oct 1, 2006 11:13pm
Now look. We have a new swing low, so we need to redraw our trendline. Do we remain in the trade???

I would bail. That would be -10 pips. But I don't think Mouteki himself has addressed this issue. Anyone know if I'm wrong about that, please correct me.
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  • #62
  • Oct 1, 2006 11:22pm Oct 1, 2006 11:22pm
Quoting Horace Kent
Now look. We have a new swing low, so we need to redraw our trendline. Do we remain in the trade???

I would bail. That would be -10 pips. But I don't think Mouteki himself has addressed this issue. Anyone know if I'm wrong about that, please correct me.
In fact, I would enter short right on that candle, because I would wait a clear signal (a few good pips above the TL). My opinion
The trend isyour friend untilis about to end...
  • #63
  • Oct 1, 2006 11:24pm Oct 1, 2006 11:24pm
Hi Hans,

Why short, and which candle, please explain.

Thanks
  • #64
  • Oct 1, 2006 11:27pm Oct 1, 2006 11:27pm
Quoting Horace Kent
Now look. We have a new swing low, so we need to redraw our trendline. Do we remain in the trade???

I would bail. That would be -10 pips. But I don't think Mouteki himself has addressed this issue. Anyone know if I'm wrong about that, please correct me.
I think technically it should still be a valid trade. We don't need to exit out of the trade because we have a new demand point. I would only exit out of the trade if we get a signal in the opposite direction of the current trade. My opinion
  • #65
  • Oct 1, 2006 11:36pm Oct 1, 2006 11:36pm
Alright Daerus, so lets say we stay in the trade then...looking good...



Quoting daerus
I think technically it should still be a valid trade. We don't need to exit out of the trade because we have a new demand point. I would only exit out of the trade if we get a signal in the opposite direction of the current trade. My opinion
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  • #66
  • Oct 1, 2006 11:39pm Oct 1, 2006 11:39pm
Quoting Horace Kent
Hi Hans,

Why short, and which candle, please explain.

Thanks
Your candle does not open "very clear" below the TL. I would not chose it as a signal. I rather wait to see what's happening. The next to candles are opening above DTL. And the third candle is opening very clear under the DTL. That's my SELL signal.

http://picnac.com/images/6224Untitled-2.gif
The trend isyour friend untilis about to end...
  • #67
  • Oct 1, 2006 11:40pm Oct 1, 2006 11:40pm
Now what?

Still in the trade?

I'd hold on to this one. Still looks good...
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  • #68
  • Oct 1, 2006 11:42pm Oct 1, 2006 11:42pm
Quoting Horace Kent
Now what?

Still in the trade?

I'd hold on to this one. Still looks good...
Yeah, still in the trade. No reason to exit, might still go down to the PP.
  • #69
  • Oct 1, 2006 11:48pm Oct 1, 2006 11:48pm
Max. profit on this one was 131 pips, 28 short of our projection. Then it turned and would have stopped us out. Again, being up 131 pips, there is NO WAY I would only take 10 from this trade. Discretion is a must with this system, in my opinion. And actually, looking closer, it appears there was a reversal signal at 17425 which would have secured 80 pips of profit, although I would not take less that 100.
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  • #70
  • Oct 1, 2006 11:55pm Oct 1, 2006 11:55pm
Quoting Horace Kent
Max. profit on this one was 131 pips, 28 short of our projection. Then it turned and would have stopped us out. Again, being up 131 pips, there is NO WAY I would only take 10 from this trade. Discretion is a must with this system, in my opinion. And actually, looking closer, it appears there was a reversal signal at 17425 which would have secured 80 pips of profit, although I would not take less that 100.
Instead computing the target profit using the heighest high price, what target will be in this case if you use the highest closing price? About 120-130? I think that not always should be used the Highest High Price.
The trend isyour friend untilis about to end...
  • #71
  • Oct 1, 2006 11:57pm Oct 1, 2006 11:57pm
Yep, nice quick 76 pip trade going the other way!!!
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  • #72
  • Oct 1, 2006 11:58pm Oct 1, 2006 11:58pm
Yes that's an interesting thought Hans, would make the targets lower, but also more achievable at times.
Quoting hans_gregor
Instead computing the target profit using the heighest high price, what target will be in this case if you use the highest closing price? About 120-130? I think that not always should be used the Highest High Price.
  • #73
  • Oct 2, 2006 12:09am Oct 2, 2006 12:09am
Alright, Demand line break, short. Two targets. One, in gold, the original way, the second, in cyan, using the highest close above the demand line to create the price projection...
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  • #74
  • Oct 2, 2006 12:13am Oct 2, 2006 12:13am
Ouch!!!
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  • #75
  • Oct 2, 2006 12:25am Oct 2, 2006 12:25am
Reverse signal generated, long taken at 17556:
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  • #76
  • Oct 2, 2006 12:29am Oct 2, 2006 12:29am
Quoting nutmg12
Are you saying only take trades where 3 points of support or resistance form a supply or demand line? Have you tested this? I wonder how many trades this would filter out.
I think if you have 3 points, it is a strong signal. A very strong trend has been broken so imagine a dam breaking. This is just my take and I have not verified that this is indeed the case via backtesting, whether manual or mechanical.
I am JuMPeR.
  • #77
  • Oct 2, 2006 12:29am Oct 2, 2006 12:29am
Quoting Horace Kent
Ouch!!!

http://picnac.com/images/5231Untitled-3.gif


I think you used an "old" DTL!! Can you put an arrow or mark in some way the the point where you decide to enter a trade? It would be easy to follow them.
The trend isyour friend untilis about to end...
  • #78
  • Oct 2, 2006 12:31am Oct 2, 2006 12:31am
Quoting Horace Kent
Max. profit on this one was 131 pips, 28 short of our projection. Then it turned and would have stopped us out. Again, being up 131 pips, there is NO WAY I would only take 10 from this trade. Discretion is a must with this system, in my opinion. And actually, looking closer, it appears there was a reversal signal at 17425 which would have secured 80 pips of profit, although I would not take less that 100.
quick question?

why would you get stopped out for +10pips?

it seems like the price action broke a newly drawn supply line, which would have had you reverse positions and close out the old one at a profit greater than 10pips.

or perhaps i'm seeing things--sleep deprivation, coding (trying to at least) and looking at charts does that to you....haha

phoenix
  • #79
  • Oct 2, 2006 12:39am Oct 2, 2006 12:39am
This next trade could be a monster!

547 pip projection!!!
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  • #80
  • Oct 2, 2006 12:42am Oct 2, 2006 12:42am
Have to see what happens here...
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