Weekly 100's GBPUSD strategy | Forex Factory

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Weekly 100's GBPUSD strategy

  • #1
  • First Post: Apr 28, 2007 5:27am Apr 28, 2007 5:27am
This was inspired from studying TKimble's weekly method and yezbick's hedging.

At the start of the week enter a buy stop 100 points up and a sell stop 100 points down. At the end of the week close either that is in profit for at least 100 points. If both are triggered, no worries, close the one in profit (if profit is at least 100 points, if not do nothing) and enter the next week with +1 lot of what you closed so if we closed a buy the next week we will have 2 lots buy stop 100 pips up and a 1 lot sell stop 100 pips down.

When we accumulate sells in an uptrend we are looking for a reversal after we closed all the buys, so for instance we have 5 sells active, next week we set a buy stop for 5 lots 100 pips up. If we are at the top of the trend the buys will not be activated so we have 5 sells working for us instead of just using a SL of 200.

The 200 points straddle and taking at least 100 pips profit works nice filtering ranging conditions and whipsaws so we won't accumulate too many buys and/or sells.

Close everything when in profit.

Any comments or improvements are welcomed.
  • #2
  • Apr 28, 2007 5:30am Apr 28, 2007 5:30am
Here is a weekly chart for your convenience
Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 40 KB
  • #3
  • Apr 28, 2007 6:01am Apr 28, 2007 6:01am
Scientist,

Sounds interesting.
Have you done any manual backtesting on it?

Thanks
  • #4
  • Apr 28, 2007 6:12am Apr 28, 2007 6:12am
Quoting billbss
Scientist,

Sounds interesting.
Have you done any manual backtesting on it?

Thanks
Nope, only visual.
  • #5
  • Edited 2:55pm Apr 28, 2007 2:30pm | Edited 2:55pm
It seems interesting but I don't get it completely. Could you give some examples on a chart ?

thx
  • #6
  • Apr 28, 2007 5:32pm Apr 28, 2007 5:32pm
Quoting Scientist
Close everything when in profit..
I suppose you mean enter at the beginning of the week and exit or 'close everything when in profit' only at the end of the week, and do nothing else during the week?
  • #7
  • Apr 28, 2007 6:00pm Apr 28, 2007 6:00pm
Quoting skyline
It seems interesting but I don't get it completely. Could you give some examples on a chart ?

thx
I don't get it either
  • #8
  • Apr 29, 2007 2:36am Apr 29, 2007 2:36am
Quoting drayco
I suppose you mean enter at the beginning of the week and exit or 'close everything when in profit' only at the end of the week, and do nothing else during the week?
Thats right.
  • #9
  • Apr 29, 2007 10:31am Apr 29, 2007 10:31am
hello to be able to help with a small mirror I not to succeed translate they are Italian.
thanks
[email protected]
  • #10
  • Apr 29, 2007 9:20pm Apr 29, 2007 9:20pm
Quoting Mina
I don't get it either
me too. Can you walk through with an example?
Thanks.
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #11
  • Apr 30, 2007 1:12am Apr 30, 2007 1:12am
I will be away for a few months starting next week and will not have internet access but I will post some trades when I get back. In the mean time try to demo trade for some time and you will start getting it.

Good luck and never give up.
  • #12
  • Apr 30, 2007 3:01am Apr 30, 2007 3:01am
Confused, you just started a thread and now your going to be gone for a few months?
  • #13
  • Edited 7:06am Apr 30, 2007 3:44am | Edited 7:06am
I have created a small spreadsheet showing last 4 weeks of cable with profits taken over and above buy or sell positions, a max 100 point stop loss for the week and £10 per pip stake (2 lots approx.).

I realise that you have some sort of carry over buy\sell more lots strategy but need to understand the basic concept first. Am I on the right lines?
Attached Image (click to enlarge)
Click to Enlarge Name: last4weeks.jpg Size: 55 KB
  • #14
  • May 1, 2007 2:21am May 1, 2007 2:21am
Quoting goonergonebad
I have created a small spreadsheet showing last 4 weeks of cable with profits taken over and above buy or sell positions, a max 100 point stop loss for the week and £10 per pip stake (2 lots approx.).

I realise that you have some sort of carry over buy\sell more lots strategy but need to understand the basic concept first. Am I on the right lines?
Looks fine so far.
  • #15
  • May 5, 2007 6:51pm May 5, 2007 6:51pm
What currency, what timeframe, what recommended risk per account size? You're going away after just starting this? What is up???

This is like saying:

Open some positions above and below and close them and take profit sometime. Back test and you'll see what I mean.

One thing that is really really important when you communicate in writing. Be clear! Anticipate questions! Make things easy for your readers so that you don't get 1,000 questions. OK, that is more than one thing, but I hope you get the point!

Now, since the author of this "system" has decided to not post for several months, is anyone trading this "method" that can help us understand what he was trying to say? Anyone know what currency pair he was recommending?

Quoting Scientist
This was inspired from studying TKimble's weekly method and yezbick's hedging.

At the start of the week enter a buy stop 100 points up and a sell stop 100 points down. At the end of the week close either that is in profit for at least 100 points. If both are triggered, no worries, close the one in profit (if profit is at least 100 points, if not do nothing) and enter the next week with +1 lot of what you closed so if we closed a buy the next week we will have 2 lots buy stop 100 pips up and a 1 lot sell stop 100 pips down.

When we accumulate sells in an uptrend we are looking for a reversal after we closed all the buys, so for instance we have 5 sells active, next week we set a buy stop for 5 lots 100 pips up. If we are at the top of the trend the buys will not be activated so we have 5 sells working for us instead of just using a SL of 200.

The 200 points straddle and taking at least 100 pips profit works nice filtering ranging conditions and whipsaws so we won't accumulate too many buys and/or sells.

Close everything when in profit.

Any comments or improvements are welcomed.
  • #16
  • May 6, 2007 11:39am May 6, 2007 11:39am
Well now I do see from the title of this thread that this "strategy" is on GBP/USD, but can anyone clarify this strategy? For instance:

1. At open of weekly market, enter a buy 100 pips above, and a sell 100 pips below the open price.

2. At end of week, close any position that is 100 pips profit or more. Let the other position run.

3. At open of next week, double the position you closed. In other words, if your "buy" position was 100 pips profit or more and so you closed it at the end of the week, at beginning of next week open 2 lots at 100 pips above market open price, and 1 lot at 100 pip below.

Is this all correct?
  • #17
  • May 7, 2007 2:49pm May 7, 2007 2:49pm
but it works? to have been tried?
best regards
eagle
  • #18
  • May 7, 2007 3:49pm May 7, 2007 3:49pm
Quoting eagle
but it works? to have been tried?
best regards
eagle
I'm sorry, what is your question?
  • #19
  • May 7, 2007 4:20pm May 7, 2007 4:20pm
method to be working? to be ok?
  • #20
  • May 7, 2007 4:28pm May 7, 2007 4:28pm
Quoting eagle
method to be working? to be ok?
No, it is not working, because the initiator of this system posted and them very quickly said he had to be gone for several months, and his posting was so unclear that we do not understand what he meant.
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