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Camarilla profitable system

  • #21
  • May 18, 2007 10:06am May 18, 2007 10:06am
Quoting johnedoe
Still not clear on your 6 position order..... 3 long at close , 3 short at close, which by the way is history 1 second after the close.
Hi jonedoe
I placed the 3 buy orders separately, I did the same with the sell orders, I was lucky that I caught the price I want, since prices were moving too slow yesterday, sometimes I can't use the same price for all orders, I do my best to catch it, it might differs by 2 to 3 pips

This might be my problem when using my system, that I need to develop this part, which is the most important part of the whole system, if anyone has any idea, it will be more appreciated.

Best regards
  • #22
  • May 18, 2007 10:48am May 18, 2007 10:48am
do you figure the number manuallly or is there a indicator that configured to your numbers?
  • #23
  • May 18, 2007 10:51am May 18, 2007 10:51am
Quoting droesparky
do you figure the number manuallly or is there a indicator that configured to your numbers?
You can do it either way.
Pino is using the standard formula.
CEO posted some Cam indicators, a few posts back, that will calculate them and put them on your chart.
  • #24
  • May 18, 2007 11:06am May 18, 2007 11:06am
Hi Pino,

Thanks for sharing system with us!
Q1: what it's happening with orders not filled by end of day?
Q2: in the sample you have skipped [email protected]_TP_1.9750 (6 pips) and [email protected]_TP_1.9739 (5 pips) (L1/H1 levels). Why?

Regards,
J.
  • #25
  • May 18, 2007 11:10am May 18, 2007 11:10am
jonescu
Usually in a 60 pips range all orders are filled and reach TP
I skipped H1, and L1 since they will give either zero or 1 pip, so I usually skip them, better than paying spreads for winning 1 pip
  • #26
  • May 18, 2007 11:16am May 18, 2007 11:16am
With reference to my earlier post. An example of the waiting disaster is as follows.

On 4/9 the Open/High/Low/Close were 1.3375/1.3383/1.3340/1.3355, making H2/H3/H4 1.3363/1.3367/1.3379 and L2/L3/L4 1.3347/1.3343/1.3331 The daily range was 43 pips. The entry on 4/10 was at 1.3354. The price fell to 1.3349 then climbed to 1.3686 over the following days. This would have resulted in your 3 BUY trades making a profit of 9 pips (H2 1.3363 - 1.3354 ), 13 pips (H3 1.3367 - 1.3354) and 25 pips (H4 1.3379 - 1.3354). Total profit 47 pips (discounting the spread).

However your SELL trades would have reached a maximum drawdown of 1.3686 - 1.3354 x 3 = 996 pips (discounting the drawdown). If a further SELL trade had been entered at H4 1.3379, then the drawdown would have been increased by a further 307 pips (1.3686 -1.3379) totalling 1,303 pips

I may have misunderstood the basic concept but you stipulate in your original post the trades would be entered when the previous days range was less than 60 and uses H2/H3/H4 and L2/L3/L4 as profit targets. As the events of 4/9 and 4/10 show if the price hits a trend immediately you enter your trades then the drawdowns can be ruinous.

DaveW
  • #27
  • May 18, 2007 11:34am May 18, 2007 11:34am
DaveW
Thank you for your concern, but I guess the example you post was for EUR/USD and I only use this system with GBP/USD

Second thing all filled orders to be closed at the end of each day, no orders to be kept till next day, either filled or unfilled orders.

Finally as I've mentioned before that the 60 pips range or less is like magic when it works with my system, all orders reach their target since I started this system

You can wait for a GBP/USD 60 pips or less range and try to use this method as shown in my first thread in a demo account and inform me with the result

Best regards
  • #28
  • May 18, 2007 11:42am May 18, 2007 11:42am
DaveW
I agree with you that if this system is applied on EUR/USD using the same range it will end up with a disaster, since the avg daily range of the EUR/USD is totally different than that of the GBP/USD, since for EUR/USD avg daily range is like 60-70 pips but for GBP/USD is like 80-100 pips sometimes it exceeds 200 and 250 pips a day, so 60 pips or less is a low range that can work with my system for GBP/USD but for EUR/USD it won't work for sure since 60 pip is the avg daily range not the low range, I'll start backtesting this system on EUR/USD for sure I'll be talking about a low of 30 pips, let's give it a test first and see the best low range to work with it for EUR/USD, but again for GBP/USD 60 pips or less range is the sign for applying my system without using SL
  • #29
  • May 18, 2007 11:48am May 18, 2007 11:48am
Why not just set your stops a few pips outside of H4 and L4. That would be a 30-40 pip SL. You may miss a nice breakout, but you won't get fizucked in the long run
  • #30
  • Edited 1:26pm May 18, 2007 12:58pm | Edited 1:26pm
Quoting pino2
Hi everyone,
I've been testing this from a long time, and I noticed the following, that for any day the difference between the high and the low for GBP/USD is 60 or less, so I have my numbers brought out from the camarilla equation and place orders accordingly
Camarilla has 8 numbers, H1, H2, H3, H4 & L1, L2, L3, L4
I'll give an example using yesterday's high and low
Yesterday High was 1.9790, low was 1.9730
Camarilla numbers are as follows

H1=1.9750, H2=1.9755, H3=1.9761, H4=1.9777
L1=1.9739, L2=1.9733, L3=1.9728, L4=1.9711

The close price for yesterday was 1.9744
So I place the following orders

Buy @ 1.9744 TP 1.9755 NO STOP LOSS (6 pips)
Buy @ 1.9744 TP 1.9761 NO STOP LOSS (12 pips)
Buy @ 1.9744 TP 1.9777 NO STOP LOSS (28 pips)

Sell @ 1.9744 TP 1.9733 NO STOP LOSS (6 pips)
Sell @ 1.9744 TP 1.9728 NO STOP LOSS (11 pips)
Sell @ 1.9744 TP 1.9711 NO STOP LOSS (28 pips)
A total of 91 pips.
This is not the end
I check which side goes first for eg today the upside was reached first reaching 1.9777, while the downside was not yet reached, so I place a sell order @ 1.9777 TP 1.9711 NO STOP LOSS AS WELL (61 pips)
So for today camarilla gave me a total of 152 pips without using SL

For anyone who wants to check this to bring any day that the difference between the high and the low was only 60 pips or less and apply the camarilla equation he wil see what I mentioned here above
I know that camarilla equation is being used in other ways, but I prefer using it this way in such days

Best regards

How many days for 2007 has had a daily range of less than 60pips for GbpUsd
Thanks


EDIT: I could find with quick eyesight 5 for the year.
Only 5 trading oppertunities in 6 months???????
  • #31
  • May 18, 2007 1:29pm May 18, 2007 1:29pm
Hi Phillip
It's about 7 times that we had a 60 pips or less range since Jan 2007, and 3 times for the 8 camarilla levels to be acheived for over than 60 pips range, but never try it with more than 60 pips range, I'm thinking also to work only with 50 pips or less range to be more safe, since as I mentioned before that I don't use SL with this system
  • #32
  • May 18, 2007 1:38pm May 18, 2007 1:38pm
Hi Phillip
This system comes occasionally, I can't use it everyday, it has an average of 1 to 2 times to happen every month, but when it comes, it is like magic

I also have another system which I only use once a month for the NFP that I made myself, it has terrific results, I'll start posting the signal for it starting next month, and I'll try to make it on a monthly basis

So some of my system mustn't happen everyday, but at least when they happen they bring profit
  • #33
  • May 18, 2007 10:55pm May 18, 2007 10:55pm
Here's a dumb question...how are you going to predict a 60 pip daily range?
  • #34
  • May 19, 2007 12:17am May 19, 2007 12:17am
Quoting lcfxtrader
Here's a dumb question...how are you going to predict a 60 pip daily range?

Prior day's High and Low is 60 pips or less.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #35
  • May 19, 2007 12:31am May 19, 2007 12:31am
I think Camarilla is good on GBP/USD & EUR/JPY
  • #36
  • May 19, 2007 1:05am May 19, 2007 1:05am
for meta traders you can use Waddah_Attar indicator which draw camarilla for all days not only the last day on chart
http://imgplace.com/directory/dir294...54869_4299.gif
or you can use my calculator , calculate pivots & camarilla
www.forex23.net/pivocam2.zip
Attached File(s)
File Type: mq4 Waddah_Attar_Dayly_CAMARILLA.mq4   7 KB | 2,583 downloads
  • #37
  • May 19, 2007 2:42am May 19, 2007 2:42am
Quoting pino2
Hi Phillip
This system comes occasionally, I can't use it everyday, it has an average of 1 to 2 times to happen every month, but when it comes, it is like magic

I also have another system which I only use once a month for the NFP that I made myself, it has terrific results, I'll start posting the signal for it starting next month, and I'll try to make it on a monthly basis

So some of my system mustn't happen everyday, but at least when they happen they bring profit
what about sunday ??
do u consider the H, L and Close on sunday also ??

I've been following your GBP/USD simple breakout system
and it's been working nicely

can't wait to hear the NFP system from you
Every moment in the market is unique
  • #38
  • May 19, 2007 4:27am May 19, 2007 4:27am
Hi everyone,
I have attached in a previous post an excel sheet that has the camarilla equation inside, all you have to do is to write down the high, low and close of the day, and this to be done at the end of each day which will automatically bring you the camarilla 8 numbers + the resistance, support and pivot of the day, also will bring you the range, if you found the range is less than 60, you can start using the system, but my advise is that you use it in demo account, coz I still have 2 things that I'm working on, first I'm thinking to work on 50 pips or less range since it is more safe than the 60 pips range, also I'm trying to develop the entry order since this is the most important part.
  • #39
  • May 19, 2007 4:30am May 19, 2007 4:30am
Quoting andimozza
what about sunday ??
do u consider the H, L and Close on sunday also ??

I've been following your GBP/USD simple breakout system
and it's been working nicely

can't wait to hear the NFP system from you
No (Only from Monday to Friday)
  • #40
  • Jun 23, 2007 12:12am Jun 23, 2007 12:12am
Does it make sense to place your buy/sell orders an X amount of pips away from opening price?

That way you pip your way up or down to H4 or L4 without the other leg of the straddle canceling your progress.

Then, once you reach one of your Camarilla extrema and take profit, you sell or buy (for H4 and L4 respectively), as per this strategy, to go the other way.

Because to profit with a straddle, price must visit both extrema of the range in one day. But if you use this one-legged approach, then one trip north and/or back (or just south and/or back) will leave you pip-happy, laughing all the way to the bank.

Just a thought...
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