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10 pips a trade

  • #1
  • First Post: Oct 22, 2018 2:15am Oct 22, 2018 2:15am
Greetings Traders. This is my first thread so please be kind.
This is a simple system. I like a 15 minute chart for 10 pips a day... but often this time frame can produce 20 or more per trade.
The pictured example is a fifteen minute chart.
When the rules are followed I experience about a 75% win rate, with very low risk.
I have backtested 500 trades, strategy tested 250, and demo traded 100 trades.
I am bringing it live on a small real account now and have my trade explorer attached for your review.

STOCHED UP RSI
Currency Pair: ANY
Timeframe: ANY

INDICATORS
Bollinger Bands (21) - Deviations (2)
Stochastics (13,8,5) - Levels: 20,30 and 70,80 - Slow Line green, fast line orange
RSI (14) overlaid on to Stochastic, no levels - Light blue color

BULLISH SET UP RULES:
Price closes at or below the lower Bollinger band
Stochastic fast line AND slow line are both below the 20 level
RSI is below the 30 line
Enter at candle close
Target is middle Bollinger band

BEARISH SET UP RULES
Price closes at or above upper Bollinger band
Stochastic fast line AND slow line are both above the 80 level
RSI is above the 70 line
Enter short at candle close
Target is middle Bollinger band

RISK
Varies on timeframe... I start with about a 10 pip risk on a 15 minute chart, and risk goes up as timeframes go up.
As price moves my direction, I will trail my stop producing very low risk trade ideas

RISK DISCLAIMER
test and demo trade before applying this strategy to a live account. All trading poses serious financial risk, including loss of capital.
This strategy is shared with you for free... Be wise and use due diligence when trading this or any strategy.
Attached Image (click to enlarge)
Click to Enlarge Name: SRSI.JPG Size: 183 KB
  • #2
  • Oct 22, 2018 2:23am Oct 22, 2018 2:23am
Example one is a bearish set up. Price closed at the upper BB, both stochastic lines are above the 80 level, but the RSI is not above the 70 level. NO TRADE

Example two is a bullish set up, Price closed below the BB, RSI is below 30, but the slow line of the Stochastic is not below 20. NO TRADE

Example three is a bullish set up. Price closed below the BB. Both stochastic lines are below the 20 and the RSI is below the 30. RULES MET - TARGET HIT

Example four is a bearish set up. Price closed above the BB. RSI is above the 70, but the slow line of the Stochastic is not above 80. NO TRADE

Example five is a bearish set up. Price closed at the BB. Both Stochastic lines are above the 80 and the RSI is above the 70. RULES MET - TARGET HIT
  • #3
  • Oct 22, 2018 10:03am Oct 22, 2018 10:03am
Hi deanoracer


Looks interesting indeed. with the double filter of Stoch and RSI... think you onto something here...



Let's me toss it on some charts and will see if I can give you a comment or few.
  • #4
  • Oct 22, 2018 10:40am Oct 22, 2018 10:40am
Quoting deanoracer
Greetings Traders. This is my first thread so please be kind. This is a simple system. I like a 15 minute chart for 10 pips a day... but often this time frame can produce 20 or more per trade. The pictured example is a fifteen minute chart. When the rules are followed I experience about a 75% win rate, with very low risk. I have backtested 500 trades, strategy tested 250, and demo traded 100 trades. I am bringing it live on a small real account now and have my trade explorer attached for your review. STOCHED UP RSI Currency Pair: ANY Timeframe:...
Nice!!

All the best

Thanks
R
  • #5
  • Oct 22, 2018 10:49am Oct 22, 2018 10:49am
Hi
Nice, easy, "clean", simple rules! Excellent!
One more little thing... if that 75% win rate (gained in what period of time?)
...if that 75% win rate can be stable in time, it's definitely a HGrail!
Thanks
Member
  • #6
  • Oct 22, 2018 10:58am Oct 22, 2018 10:58am
Quoting TudorIoan
Hi Nice, easy, "clean", simple rules! Excellent! One more little thing... if that 75% win rate (gained in what period of time?) ...if that 75% win rate can be stable in time, it's definitely a HGrail! Thanks
Thanks!
Using higher timeframes (daily)I found a win percentage closer to 80% (backtested over many years of data on multiple pairs). Trades on this timeframe can last 3 to 8 days, and risk goes up, but a trailing stop gives it a really low loss rate.
I want to make 10 to 20 pips a day, so using 1 hour and 15 minute timeframes gets me in and out with lower risk.
I don't know about this being a holy grail, as many trades will complete that we won't get because of the rules, however following the rules with
"paytience" will be rewarding more often than not.
  • #7
  • Oct 22, 2018 11:40am Oct 22, 2018 11:40am
It is very technical and indicator based.
If I turn it into EA, I´ll be rich!
No mathematican, statistican, coder, big banks and hedge fund has never seen or considered this approach before. Right?
F_ck your analysis, I know exactly where the market will go. To the right.
  • #8
  • Oct 22, 2018 12:35pm Oct 22, 2018 12:35pm
Hi deanoracer,

Looks interesting .... Thanks for sharing

Can you please share your template ...

Thanks a lot for sharing
The One Who Makes The Thunder Roar Also Hears A Butterfly Sigh - Ruzbeh
  • #9
  • Oct 22, 2018 1:45pm Oct 22, 2018 1:45pm
Backtested for 1/1/18 until Yesterday (21/10/18):
Bollinger Bands (21,0,2)
Stochastics (13,8,5)
RSI (14)
Rules as stated for entry (close above/below BB upper/lower, Stoch <> 20-80, RSI <> 30-70)
TP is the middle line at the moment when the trade is started (although, if it crosses middle line, trade will TP)
SL is 1:1 with initial TP (so for a bull, SL = BBLower - (BBMid-BBLower))
Account $1000, trading 0.01 lots
Trading on M15 across multiple pairs

Results below:
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 118 KB


Changed to have a static SL of 10 pips as suggested, whilst still having TP at mid of band:
Attached Image (click to enlarge)
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Best pair is EURGBP. Conducted test for winrate; 60% achieved:
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot3.png Size: 55 KB
Will code in MT5 for free.. EAs only, can't be f*cked with Indicators
  • #10
  • Edited 3:01pm Oct 22, 2018 2:25pm | Edited 3:01pm
In your first post you showed 2 examples, both of which appear to be invalid trades? I think if you've done manual back-testing, your eyes have been blinded by losses!

Just to ensure I have the theory down, in your example 3 why isn't the trade made 1 candle earlier? It satisfies the criteria, however you didn't take it... If you did, you'd have triggered your 10 pip SL? Just checking, as my EA took this trade and lost.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 95 KB


Also, your trade 5 didn't close above the upper BB? Why did you take the trade? If it's a soft rule, what made you not take the candle before which hits the exact same criteria?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 95 KB


Sorry, but this strategy looks like a big dose of hindsight fitting.
Will code in MT5 for free.. EAs only, can't be f*cked with Indicators
  • #11
  • Oct 22, 2018 2:46pm Oct 22, 2018 2:46pm
How do i overlay RSI on STOCKASTIC
  • #12
  • Oct 22, 2018 3:20pm Oct 22, 2018 3:20pm
interesting, count me in.
  • #13
  • Oct 22, 2018 3:32pm Oct 22, 2018 3:32pm
Quoting Wahabafeez
How do i overlay RSI on STOCKASTIC
Drag the indicator into the same indicator window where Stoch indicator is

Thanks
R
  • #14
  • Oct 22, 2018 6:28pm Oct 22, 2018 6:28pm
[quote=Penguinthief;11612712]Backtested for 1/1/18 until Yesterday (21/10/18)

Thanks Penquin… I appreciate you taking so much time and effort to disprove this idea, theory, strategy, etc.

First, I reiterate that I am only looking for 10 or 20 pips a day. Since 1/1/18, there have only been what, 200, maybe 220 trading days?
Your 'EA' backtested over 5000 setups. I really don't need that many if I am only looking for one quality setup a day.

It is awesome to know that many setups were available for ME (not my computer) to evaluate for a live trade.. an in only 10 months time!

Second, I assume it is fair to state your 'EA' had a trailing stop?

I do not rely on computers to trade for me. I appreciate that it works for you.

Just my opinion, but I think the best 'EA' will help identify a potential trade...
But I am not one to let a computer make a final decision on entry, stop movements and targets... That's just me & my comfort level
market conditions change to rapidly - especially in a market such as forex.

That being said, my observations are only one set of eyes -
I offered these observations genuinely, and with an open mind -
knowing we all see the same thing differently when it comes to looking at charts.

Thanks for adding your set of eyes, I hope many will find it valuable.

Best Regards
  • #15
  • Oct 22, 2018 6:58pm Oct 22, 2018 6:58pm
[quote=Penguinthief;11612801] in your example 3 why isn't the trade made 1 candle earlier? It satisfies the criteria, however you didn't take it... If you did, you'd have triggered your 10 pip SL? Just checking, as my EA took this trade and lost. Also, your trade 5 didn't close above the upper BB?


Trade three shows a nine pip difference on my chart. - Yah, that's pretty close - The difference between real eyes and a computer automation maybe?

Trade 5 - BEARISH SET UP - "Close at or above the upper BB" - see post #1

I see "at" on this trade
  • #16
  • Oct 22, 2018 7:15pm Oct 22, 2018 7:15pm
Here is AUDUSD. 10/22/18 5:10pm Pacific
15 Minute / 1 Hour

15 minute waiting for Stochastic slow lineI to reach its zone
1 Hour waiting for candle to close at or below BB

No EA will recognize this like our eyes will... call this due diligence. No entry, no loss.

"PAYtience"
Attached Image (click to enlarge)
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  • #17
  • Oct 22, 2018 7:15pm Oct 22, 2018 7:15pm
[quote=deanoracer;11613274]
Quoting Penguinthief
in your example 3 why isn't the trade made 1 candle earlier? It satisfies the criteria, however you didn't take it... If you did, you'd have triggered your 10 pip SL? Just checking, as my EA took this trade and lost. Also, your trade 5 didn't close above the upper BB? Trade three shows a nine pip difference on my chart. - Yah, that's pretty close - The difference between real eyes and a computer automation maybe? Trade 5 - BEARISH SET UP - "Close at or above the upper BB" - see post #1 I see "at" on this trade
Don't let the wannabes put you off, this place is full of them, know it all losers, most of which could be handed the best strategy in the world and would still lose.
Ardua Ad Astra Per
  • #18
  • Oct 22, 2018 7:40pm Oct 22, 2018 7:40pm
AUDUSD 10/22/18 5:40pm pacific

15 minute - all conditions met
1hour - all conditions met - oh wait, candle not closed...……… due diligence

lets look again at the top of the hour and see what we may learn

"PAYtience"
Attached Image (click to enlarge)
Click to Enlarge Name: SRSI_b.JPG Size: 142 KB
  • #19
  • Oct 22, 2018 8:07pm Oct 22, 2018 8:07pm
AUDUSD 10/22/18 607pm pacific

These time frames appear to qualify the trade rules. My eyes also see a potential divergence on 15minute.

"PAYtience"
Attached Image (click to enlarge)
Click to Enlarge Name: SRSI_c.JPG Size: 162 KB
  • #20
  • Oct 23, 2018 1:17am Oct 23, 2018 1:17am
Quoting deanoracer
Quoting Penguinthief
Backtested for 1/1/18 until Yesterday (21/10/18) Thanks Penquin… I appreciate you taking so much time and effort to disprove this idea, theory, strategy, etc. First, I reiterate that I am only looking for 10 or 20 pips a day. Since 1/1/18, there have only been what, 200, maybe 220 trading days? Your 'EA' backtested over 5000 setups. I really don't need that many if I am only looking for one quality setup a day. It is awesome to know that many setups were available for ME (not my computer) to evaluate for a live trade..
...
Please believe my effort isn't to disprove strategies; I don't waste my time coding an EA unless I think there may be worth in it. Equally, it would be selfish of me to code an EA and find out that it's a long time losing strategy and not share that information.

Equally, you said that the candle could close 'at or above' the upper BB... My question was simply, the candle before met that exact criteria so why didn't we trade that? Is there something I'm missing that meant you traded the absolute peak to trough trade rather than the candle before?

If I'm missing something, and there's an extra reason why you've skipped certain setups which meet your criteria, and taken others that don't quite make it, I'd be more than willing to do some testing for you.
Will code in MT5 for free.. EAs only, can't be f*cked with Indicators
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