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Did I just create my own very simple system?

  • #21
  • Apr 30, 2007 1:14pm Apr 30, 2007 1:14pm
Quoting TrunkMusic6
The system really did seem to work well while I was forward testing but, in the end, I simply couldn't keep up. 5m and 15m charts are too hard to keep track of. I missed a lot of entries by getting distracted by other things. So maybe its true what all the forex veterans say: longer time frames are better.
try to just focus on 1 pair. People try to make their system work on every pair right out the gate, but the truth is each pair is its own market. you wouldnt trade tech stocks the same way you trade a S&P stock, they are just different. I would try euro, or maybe cable if you want a bit more excitement. after trading for awhile you can decide if you system needs more volitility.

1 or 2 well managed trades a day are going to work out better then 50 i-got-to-enter-cas-the-ligh-went-bing trades
  • #22
  • May 1, 2007 10:12am May 1, 2007 10:12am
Hello TrunkMusic6
I've been testing this method for two days... and I'm getting very good results.

one question.... you say you put a RVI (100)... are you sure is 100? the default RVI is 10... I'm testing with 10 and getting very good results...

but... don't do a T/P 10 and S/L 60... instead... I put a Trailing stop of 10 points and not a T/P. sometimes it's getting more pips... and the 10 pips sometimes doesn't get because not having entered a T/P... doesn't matter because it is still higher or lower than the original 10 T/P.

so this method is working great... currently testing with EUR/USD, USD/CHF, USD/JPY and GBP/JPY

I'll tell you if I have a small loss
  • #23
  • May 1, 2007 10:31am May 1, 2007 10:31am
What timeframe are you trading on? Thanks.

Quoting emda
Hello TrunkMusic6
I've been testing this method for two days... and I'm getting very good results.

one question.... you say you put a RVI (100)... are you sure is 100? the default RVI is 10... I'm testing with 10 and getting very good results...

but... don't do a T/P 10 and S/L 60... instead... I put a Trailing stop of 10 points and not a T/P. sometimes it's getting more pips... and the 10 pips sometimes doesn't get because not having entered a T/P... doesn't matter because it is still higher or lower than the original 10 T/P.

so this method is working great... currently testing with EUR/USD, USD/CHF, USD/JPY and GBP/JPY

I'll tell you if I have a small loss
"Loss and failure are inevitable but misery is optional"
  • #24
  • May 1, 2007 11:12am May 1, 2007 11:12am
the 5 min timeframe

Quoting carmel
What timeframe are you trading on? Thanks.
  • #25
  • May 3, 2007 8:11am May 3, 2007 8:11am
ok I had some bad trades... but all of them were when the RVI signal crossed.... So I think is better the MACD cross signal than the RVI cross signal. overall.... it's a nice and very simple method to follow.
  • #26
  • Last Post: Oct 17, 2007 6:35am Oct 17, 2007 6:35am
Why not to write an EA for this instead of watching charts all time? Itīs quiet simple to build it.

Cheers

Carllos

fxcarllos.blogspot.com
"Hoe ur pips mate?" fxcarllos
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