daily range Strategy | Page 17 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Strategy: Daily Range Spike and Pull Back 161 replies

Daily Range Strategy 19 replies

Range/Last = range in %... help find the bug... 2 replies

How to get range of h/l on previous day's range? 1 reply

Another Daily Range Strategy GBP/USD 23 replies

Attachments: daily range Strategy
Exit Attachments

daily range Strategy

  • #321
  • Nov 13, 2006 2:03pm Nov 13, 2006 2:03pm
according to cable price prediction charts if you play the 25 straddle with 25 pip target (not including spread) with only a 20 SL you have a 77.6% hit rate.
what im wondering is how many forward trade samples does one need to hit this percentage 30, 40, maybe 100 i don't know, but i did backtest 22 trade samples and came up with 77.2% (17 wins/ 5 losses ) mmmmm luck?

GREG
  • #322
  • Nov 13, 2006 2:06pm Nov 13, 2006 2:06pm
Quoting stricko108
thanks for pointing that out, that was a typo, i really looked like a fool there,

so it seems some of you would enter at 1.9146 adding the spread, and some of you will no add the spread when going long, in this case when not adding spread, means that if we have a 5 pip spread, then if it moves 15 pips up we go long, or 20 pips down, i think i'll chose to add spread.

thanks guys. i made bank off the pound short , nice to get a win on my first entry using this system.
Actually I think everybody adds the spread when buying/selling. markj said he ignores spread on one or two of the lots when it comes to targets being met.
  • #323
  • Nov 13, 2006 2:07pm Nov 13, 2006 2:07pm
Quoting 62a94
according to cable price prediction charts if you play the 25 straddle with 25 pip target (not including spread) with only a 20 SL you have a 77.6% hit rate.
what im wondering is how many forward trade samples does one need to hit this percentage 30, 40, maybe 100 i don't know, but i did backtest 22 trade samples and came up with 77.2% (17 wins/ 5 losses ) mmmmm luck?

GREG
25 straddle from when? London open?
  • #324
  • Nov 13, 2006 2:10pm Nov 13, 2006 2:10pm
yes london open
  • #325
  • Nov 13, 2006 10:02pm Nov 13, 2006 10:02pm
Quoting Micardo
Sorry People I haven't been able to keep uptodate over the last week... Work has got quite demanding so not to much time to pay attention to the markets, or all of the strategies rather.

But Brick911 has been keeping a journal of the systems which is very entertaining.

Today we hit all 3 profit targets on Markj's system and both on mine to.

Profitability wise I feel markj's is a better syetm but it takes more time to monitor.

Regarding the EA we had some issues where the reults of the back test EA did not tally with my actual forward testing results so am not to confident to let an EA do the work.

I guess even though mechanical systems do work.... You still need a human to manaully execute or set the orders just for piece of mind.

They are looking like good consistent profitable strategies.
Hello,

Just wondering what the problems are with the EA. Do any EA's have the same results in backtesting as forward testing?

Is it a problem in the coding? I wouldn't think an EA could trade either system any less correctly than a human could considering how the trading field is reset each day with a new candle, the lack of indicators, and the simple math of entering at so many pips.

Any results of the forward testing we can see? Thanks. Matt
  • #326
  • Nov 14, 2006 6:50am Nov 14, 2006 6:50am
Are the issues with the EA being worked on by the developer(s). Have they been provided a manual test trade log showing exactly where the discrepancies lie?

Not trying to pry. Am just curious as to the status of the EA. There should be no reason why an EA cannot trade this strategy. There's nothing hocus-pocus (if you will) about EAs. Sometimes simple coding problems can cause errors. Other times, EAs reveal minor flaws in strategies that are easily overlooked.

I would love to see work on the EA continue if for any reason it has been halted.

Micardo, could you kindly advise on the status and identify who is working on it so that we can provide support and encouragement? Is it the same person who posted info about an EA a few days ago?

Thanks!

Bill

Quoting Micardo
Sorry People I haven't been able to keep uptodate over the last week... Work has got quite demanding so not to much time to pay attention to the markets, or all of the strategies rather.

But Brick911 has been keeping a journal of the systems which is very entertaining.

Today we hit all 3 profit targets on Markj's system and both on mine to.

Profitability wise I feel markj's is a better syetm but it takes more time to monitor.

Regarding the EA we had some issues where the reults of the back test EA did not tally with my actual forward testing results so am not to confident to let an EA do the work.

I guess even though mechanical systems do work.... You still need a human to manaully execute or set the orders just for piece of mind.

They are looking like good consistent profitable strategies.
  • #327
  • Nov 14, 2006 10:41pm Nov 14, 2006 10:41pm
Sorry if this has been answered before.

With TP of 14, 30 and 80 they're varying levels? I thought I read on one post that the 14 TP is actually 14 minus the spread so you really only make about 9-10 pips depending on your brokers spread, but the 30 and 80 pip levels are still pure profit levels?

I don't know. I'm probably just too tired to think right now. Anyone have any data as far as how many times the 80 TP is hit? I might look for an "easy" 50 pips to lock in more consistent returns. So 14, 30 and 50 TP levels. Matt
  • #328
  • Nov 14, 2006 11:21pm Nov 14, 2006 11:21pm
Quoting billworld
...There should be no reason why an EA cannot trade this strategy. ..
If you do a google search for "GridMACD" you will see a link for a domain by the name of lightpatch??, scroll down the page and download the EA. It is basically what this strategy is talking about though it does average in to trades if the trend continues. You can place the "straddle" to whatever you wish to and then it will place additional orders X pips from the entry. But there is a catch w/this particular EA in that it takes some time for it to register the straddle and then initiate trades. Maybe the code can be tweaked in such a way as to do away with the MACD as an entry filter (this is what holds it up from simple beginning the grid/straddle settings), and just have it turn on at London with the 25pip straddle and let'er rip the pips.??

I tested this for two months and found it somewhat profitable on the 15m timeframe but have moved on as the MACD was to unpredictable of an entry filter for what i was seeing price action doing.

: ) Thom
  • #329
  • Nov 15, 2006 12:42am Nov 15, 2006 12:42am
Quoting permanentjaun
Sorry if this has been answered before.

With TP of 14, 30 and 80 they're varying levels? I thought I read on one post that the 14 TP is actually 14 minus the spread so you really only make about 9-10 pips depending on your brokers spread, but the 30 and 80 pip levels are still pure profit levels?

I don't know. I'm probably just too tired to think right now. Anyone have any data as far as how many times the 80 TP is hit? I might look for an "easy" 50 pips to lock in more consistent returns. So 14, 30 and 50 TP levels. Matt
Hi

80 pips 3rd target is hit a lot of times, if we change it to 50, with the 1st target being only 14 pips and stop being 3x20 pips, R/R would be very poor; however if 80 pips is not hit we exit on the close of NY session which still may give us your 50 pips

Regards

howard
Regards
  • #330
  • Nov 15, 2006 1:34am Nov 15, 2006 1:34am
Hi Micardo,

An excellent thread and strategy that you have here, I've been following it for some time now - sort of lurking in the shadows. I have a question for you, if you don't mind. With both of the strategies you discuss trading 3 lots, however how would you recommend trading this if you have an SB account?

With the London open straddle it would mean that you wouldn't be moving your stop-loss to b/e until after you had cleared 30 pips and then if the target of 80 pips isn't met, you would be relying on the value at the NY close to be greater than your entry point.

Perhaps a more definitive trailing stop could be used with this to lock in profits. Or perhaps there is an optimum get out time - say if the trade is triggered prior to 9.00am GMT then the optimum get out is between 9.30 - 9.45am GMT (just an example - but seems to work ok over the last 4 weeks.)

So can I say that for today the London open is at 1.8947 - with the straddle being at 1.8967 and 1.8927. At the moment neither of these have been triggered.

The 0.00GMT trade was at 1.8957 (CMC figures) and with a 50 pip either side straddle this would give entry points at either 1.8907 or 1.9007. Again neither of which have been triggered.

However with Kamanda's straddle of 55 pips for a Buy trade and 35 pips for a Sell trade - this would give you 1.8922 and 1.9012. The lower of these, 1.8922 was breached at 6.15am this morning, but the cable has since retraced to give a loss??? Is the stop on this 30 pips or 50 pips? If it's 50 pips then you would still be in the trade, but at 30 pips you would be out.
  • #331
  • Nov 15, 2006 2:05am Nov 15, 2006 2:05am
Hi JillyB

I am sure Micardo will answer your questions in due time; however as far as I am aware we do not trade the "+50,-35" strategy because Kamando applies other strategies alongside of it such as doubling up the position in the opposite direction if the stop is hit which involves high risk.

I personally use strategy 2 which is London open, it is simple and it has been working very well.

For today the open on my platform has been 1.8946, I am in short trades with both targets 1 and 2 having been hit and stop at b/e.

Simplicity is the essence, the more complicated the harder to trade.

Regards

howard
Regards
  • #332
  • Nov 15, 2006 3:21am Nov 15, 2006 3:21am
Hi Howard,

Thanks for your reply. I must admit Kamanda doesn't seem to have given us all of the parameters for his trading system and just looking at it based on +55 or -35 pips, it seems a bit hit and miss.

I've been looking at a trailing stop for my trades as I SB and don't trade in lots. A 10MA on a 5 min chart seems to work well - when the price crosses it then you exit the trade. If it stays the right side of it - as it has done this morning - then you let the trade run.

And looking at my chart it's just been hit now, so I would have exited the trade at 1.8866 and would have netted 57 pips. I admit that today was only a paper trade as I'm still feeling my way with the system for the moment. But on paper it looks extremely good.

The only thing I can't get the hang of is re-entering the trade. Say I've exited the trade now at 11.19 GMT I can't enter on the 12pm candle, so I would be looking to trade from 1pm GMT onwards? Is this right?

How would a follow on trade be triggered? Does the price have to come back up to the London open and then breach either the upper or lower trigger levels? Am I understanding this correctly?
  • #333
  • Nov 15, 2006 4:02am Nov 15, 2006 4:02am
Quoting permanentjaun
Sorry if this has been answered before.

With TP of 14, 30 and 80 they're varying levels? I thought I read on one post that the 14 TP is actually 14 minus the spread so you really only make about 9-10 pips depending on your brokers spread, but the 30 and 80 pip levels are still pure profit levels?

Matt
Matt, the 1st lot would only give 14 minus spread so you would not get net 14. Markj has been netting 30 and 80 (if it goes to 80) on 2 and 3. However the one time I pointed out it never hit 30 net before retracing, but if you included spread you would've gotten it. That was only 1 time in my watching of it back then, so you take the bad sometimes to get the good? All up to your style. Probably the odds are better if it goes +30, you'll get the spread to the price to net 30.

Anyway, wow guys you all have racked up the past few days. Seems like the markj strategy works very well when the cable is trending as the london open determines the trend for the day. I wish I didn't have to work and could get up at 3am(est) just to play this - or be like brick and set my alarm.

Micardo - what is your latest strategy? Wait 50, then get 30/80? How is that going?
  • #334
  • Nov 15, 2006 4:07am Nov 15, 2006 4:07am
Quoting JillyB
Hi Howard,
The only thing I can't get the hang of is re-entering the trade. Say I've exited the trade now at 11.19 GMT I can't enter on the 12pm candle, so I would be looking to trade from 1pm GMT onwards? Is this right?

How would a follow on trade be triggered? Does the price have to come back up to the London open and then breach either the upper or lower trigger levels? Am I understanding this correctly?
If you are referring to Markj's strategy, the re-entering after an hour candle is if the stops are hit. I suppose you would not re-enter until it hits the -20 straddle again, meaning the gbp/usd has to retrace all the way back up to this level, so you wouldn't get back in short again until then. At least that is the way I understand it.
  • #335
  • Nov 15, 2006 4:12am Nov 15, 2006 4:12am
Quoting JillyB
Hi Howard,

Thanks for your reply. I must admit Kamanda doesn't seem to have given us all of the parameters for his trading system and just looking at it based on +55 or -35 pips, it seems a bit hit and miss.

I've been looking at a trailing stop for my trades as I SB and don't trade in lots. A 10MA on a 5 min chart seems to work well - when the price crosses it then you exit the trade. If it stays the right side of it - as it has done this morning - then you let the trade run.

And looking at my chart it's just been hit now, so I would have exited the trade at 1.8866 and would have netted 57 pips. I admit that today was only a paper trade as I'm still feeling my way with the system for the moment. But on paper it looks extremely good.

The only thing I can't get the hang of is re-entering the trade. Say I've exited the trade now at 11.19 GMT I can't enter on the 12pm candle, so I would be looking to trade from 1pm GMT onwards? Is this right?

How would a follow on trade be triggered? Does the price have to come back up to the London open and then breach either the upper or lower trigger levels? Am I understanding this correctly?
If the price comes back to the OPEN, you may trade at any time on the opposite side (long here) if it triggers; but if you have been stopped out on the short side whether fully stopped out or partially stopped out, you can trade on the same direction (short here) on the 2nd hourly bar of the stop-out bar, if the short is triggered again. By trigger, I mean cross of +20,-20 lines from the home line.

howard
Regards
  • #336
  • Nov 15, 2006 5:52am Nov 15, 2006 5:52am
All 3 targets for today's short trades have now been hit.

Results of the system for this week:

Monday: 15+30+80=125
Tuesday: 15+30+00=45
Wednesday: 15+30+80=125 on one platform
-60+15+30+80=65 on another platform

note: I use 15 as my 1st target as opposed to 14
Regards
  • #337
  • Nov 15, 2006 5:57am Nov 15, 2006 5:57am
Howard,

Congradulations on the results. I have not been watching this system latley as having been putting some documents togther for another stratgey.

Try these indicators for visual use. See the Batfink Stratgey thread for use. Do not add the 3rd target indicators and leave time to 2 and Line 1,2 to 20. This will give you a great visual.

I am finalising a document for this strategy and some specific rule.

All the best.

Cheers
Attached File(s)
File Type: zip indicators.zip   34 KB | 619 downloads
  • #338
  • Nov 15, 2006 6:00am Nov 15, 2006 6:00am
Quoting Markj
Howard,

Congradulations on the results. I have not been watching this system latley as having been putting some documents togther for another stratgey.

Try these indicators for visual use. See the Batfink Stratgey thread for use. Do not add the 3rd target indicators and leave time to 2 and Line 1,2 to 20. This will give you a great visual.

I am finalising a document for this strategy and some specific rule.

All the best.

Cheers
Thanks Mark

Waiting for the document

howard
Regards
  • #339
  • Nov 15, 2006 6:07am Nov 15, 2006 6:07am
Question - Did anybody else not have their orders filled last night? I'm trying to determine if my broker sucks, as none of my orders were filled and I missed out on the entire move. I understand this sometimes happens, but I don't want to be the guy using the worst broker on the block. BTW, I use Interbankgroup. I hate to be a broker complainer, but I need to find one who is going to execute my fills when they are triggered by news events, and Interbankgroup has disappointed a few times in two weeks of use. Thanks in advance.
  • #340
  • Nov 15, 2006 6:16am Nov 15, 2006 6:16am
Quoting brick911
Question - Did anybody else not have their orders filled last night? I'm trying to determine if my broker sucks, as none of my orders were filled and I missed out on the entire move. I understand this sometimes happens, but I don't want to be the guy using the worst broker on the block. BTW, I use Interbankgroup. I hate to be a broker complainer, but I need to find one who is going to execute my fills when they are triggered by news events, and Interbankgroup has disappointed a few times in two weeks of use. Thanks in advance.
Brick, I can't understand how it wouldn't be filled. Even if they widened the spread or whatever. Was it because you had a limit order in and the price "skipped" the limit so it wasn't filled due to slippage?
0 traders viewing now