NipThePips' Boomerang | Forex Factory

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NipThePips' Boomerang

  • #1
  • First Post: Jun 24, 2007 7:36pm Jun 24, 2007 7:36pm
Hello,

I wanted to introduce my system that I have been testing for some while now to the Forex Factory community. I was really hesistant on releasing it at first, but I have now came to the realization that Karma does exists and I can only recieve if I give. Also I must realize that there are enough riches in the world for all of us to be rich....and if the world ever ran out, the world will create more.
So I am here sharing my system not only so hopefully it can benefit someone else, but also so I can get that point of view that I have never seen. Unfortunately you WILL need Microsoft Word and Excel to view these documents for they use it in the system.
Anywho, I call this system the Boomerang because of the martingale characteristics that it has. I like to say that this system is a mix between a breakout system, a Trend following system, and a martingale strategy. I hope the document explains clearly enough the techniques of this system, if not feel free to post your questions here..
I have only tested this system on GBPUSD and GBPJPY, but I am sure it will work on any pair that moves.

Well guys, here is my contribution....Hope you enjoy it

Go to this link to download the zip file...apprently it is to big to upload to FF

http://www.sharebigfile.com/file/188580/Boomerang-zip.html
Nothing is hard, some things just take more time and discipline.
  • #2
  • Jun 24, 2007 8:17pm Jun 24, 2007 8:17pm
Hello Nip,
Thank you for sharing.

but I could not download your file. it seems there is a problem in the site, where you hosped your file.

I could not see any download icon there and comes usually apop up message.
Elhwaan
  • #3
  • Jun 24, 2007 8:23pm Jun 24, 2007 8:23pm
Sorry Nip, Now I downloaded the file without problem.
thank again for sharing
  • #4
  • Jun 24, 2007 8:26pm Jun 24, 2007 8:26pm
Quoting NipthePips
Hello,

I wanted to introduce my system that I have been testing for some while now to the Forex Factory community. I was really hesistant on releasing it at first, but I have now came to the realization that Karma does exists and I can only recieve if I give. Also I must realize that there are enough riches in the world for all of us to be rich....and if the world ever ran out, the world will create more.
So I am here sharing my system not only so hopefully it can benefit someone else, but also so I can get that point of view that I have never seen. Unfortunately you WILL need Microsoft Word and Excel to view these documents for they use it in the system.
Anywho, I call this system the Boomerang because of the martingale characteristics that it has. I like to say that this system is a mix between a breakout system, a Trend following system, and a martingale strategy. I hope the document explains clearly enough the techniques of this system, if not feel free to post your questions here..
I have only tested this system on GBPUSD and GBPJPY, but I am sure it will work on any pair that moves.

Well guys, here is my contribution....Hope you enjoy it

Go to this link to download the zip file...apprently it is to big to upload to FF

http://www.sharebigfile.com/file/188580/Boomerang-zip.html
Looks interesting. Can't wait to test it out.
  • #5
  • Jun 24, 2007 8:27pm Jun 24, 2007 8:27pm
Haven't looked at the strategy yet but I converted to PDF for the benefit of other members.

Regards

Lux
Attached File(s)
File Type: pdf The Boomerang.pdf   762 KB | 6,766 downloads
MT4 EA, Indicator and Alert Coder Since 2006
  • #6
  • Jun 24, 2007 8:33pm Jun 24, 2007 8:33pm
Quoting luxinterior
Haven't looked at the strategy yet but I converted to PDF for the benefit of other members.

Regards

Lux
Thnx for doing that...but unfortunately there is also a excel file that was coupled with the strat...also there is an excel spreadsheet embeded in the word file that you cannot see in a pdf...hence why I didnt originally convert it.


Also here is just the excel file without the word document
Attached File(s)
File Type: zip Boomerangexcel.zip   7 KB | 1,447 downloads
Nothing is hard, some things just take more time and discipline.
  • #7
  • Jun 24, 2007 9:42pm Jun 24, 2007 9:42pm
hi Nip,
it's very ok if you understand of Kamma...
i want to ask.. how many bouncing maximum do you get from backtesting?
how if the price bouncing over 10 times (because the range between long and short is just 5 pips)?
thanks...
  • #8
  • Jun 24, 2007 9:55pm Jun 24, 2007 9:55pm
Quoting budi_838
hi Nip,
it's very ok if you understand of Kamma...
i want to ask.. how many bouncing maximum do you get from backtesting?
how if the price bouncing over 10 times (because the range between long and short is just 5 pips)?
thanks...

The usual high number of bounces would be 5 or 6...but most trades dont go over 3. I tried a method that when the Take profit increases, I increase the stop...but after about a 11 month backtest...it was less profitable than just keeping the stop at 5 pips.

You will find that if you keep your take profit low...5 or 10 pips, you will not have a bounce at all, the majority of the time...and thats what you look for
Nothing is hard, some things just take more time and discipline.
  • #9
  • Jun 24, 2007 10:09pm Jun 24, 2007 10:09pm
Have you noticed there to be more successful times for this strategy, i would imagine during asian markets, it would be more dangerous?
  • #10
  • Jun 24, 2007 10:12pm Jun 24, 2007 10:12pm
Two things,

First, The spreadsheet you have doen't include spread for the currencies, So the profits targets are not 100% accurate.

Second, Do you have a statement regarding any of your past trades with this system?

This looks to be a great system. I like the ability to catch both range and trend markets. I'm just curious about when you start adding pips to the TP, If the market ranges for an extended period of time you could be looking at the standard Martingale problem, Not enough money to continue. How high have you had it go?
  • #11
  • Jun 24, 2007 10:16pm Jun 24, 2007 10:16pm
Wow you guys are fast! You said it would bounce 5 to 6 times. So then your TP is up near 50 right?
  • #12
  • Jun 24, 2007 10:18pm Jun 24, 2007 10:18pm
Quoting Blackinc
Have you noticed there to be more successful times for this strategy, i would imagine during asian markets, it would be more dangerous?


European market open is best for the GBP pairs...when the market is moving is when this method works the best and fastest. It is not necessarily dangerous to trade during asian times...but it is real sloooooooowwwww
Nothing is hard, some things just take more time and discipline.
  • #13
  • Jun 24, 2007 10:22pm Jun 24, 2007 10:22pm
Quoting jarcrocker
Two things,

First, The spreadsheet you have doen't include spread for the currencies, So the profits targets are not 100% accurate.

Second, Do you have a statement regarding any of your past trades with this system?

This looks to be a great system. I like the ability to catch both range and trend markets. I'm just curious about when you start adding pips to the TP, If the market ranges for an extended period of time you could be looking at the standard Martingale problem, Not enough money to continue. How high have you had it go?

No it doesnt include the spread....but then again most of the time when i trade with my broker there is no spread...only comission on the trade. Learn to use limit orders to your advantage. Also, everyone spread is different, I am sure people can take into account the spread themselves if they like (add it to the TP and to the SL)

I do have a statement...You can make one too.

Like I said earlier most of the time...with such a low take profit it will not bounce that much. But I have had it go pretty high a couple of times...remember the market would have to range below 10 pips...how often is the market ranging under 10 pips on the h4 chart. If you learn when to trade the system (when the market is moving) you shouldnt run into this problem. Also it is up to you when you stop trading the bounces...you dont have to go until your money runs out
Nothing is hard, some things just take more time and discipline.
  • #14
  • Jun 24, 2007 10:23pm Jun 24, 2007 10:23pm
Quoting jarcrocker
Wow you guys are fast! You said it would bounce 5 to 6 times. So then your TP is up near 50 right?
I said that is the usual range it bounces when it is bouncing a lot....hope you understand what i meant.

Your math is incorrect, If it bounces 5 times your take profit is around 30, if it bounces 6 times your take profit is around 35. It would have to bounce 9 times for your take profit to be at 50.
Nothing is hard, some things just take more time and discipline.
  • #15
  • Jun 24, 2007 11:32pm Jun 24, 2007 11:32pm
hi nip,
if we put 1 lot long now.. the price bounce.. so we close and put 1 lot sell order? or we let the long open and we put 1 lot sell?
  • #16
  • Jun 24, 2007 11:57pm Jun 24, 2007 11:57pm
Quoting budi_838
hi nip,
if we put 1 lot long now.. the price bounce.. so we close and put 1 lot sell order? or we let the long open and we put 1 lot sell?
If your original long trade got stopped, that means that that trade is closed. And now you have a sell order. Only one trade at a time until the trade is profitable
Nothing is hard, some things just take more time and discipline.
  • #17
  • Jun 25, 2007 2:11am Jun 25, 2007 2:11am
Hi and thank you very much for sharing the strategy.

It sounds good, but dont you think it need some adjustment for traders who trade with spread? Usually traders pay their "comissions" with the spread.
So if you initiate a new position, you would start with -3. Setting the SL to -5 would be as good as throwing the dollar bill out of the window.

How much is the commission you pay? 1-2pips?
Traders with spread would than need to add their spreads to the SL accordingly.
  • #18
  • Jun 25, 2007 2:23am Jun 25, 2007 2:23am
anyone can make EA for this strategy?
with EA it's very good...
  • #19
  • Jun 25, 2007 6:41am Jun 25, 2007 6:41am
Quoting Dan S
Hi and thank you very much for sharing the strategy.

It sounds good, but dont you think it need some adjustment for traders who trade with spread? Usually traders pay their "comissions" with the spread.
So if you initiate a new position, you would start with -3. Setting the SL to -5 would be as good as throwing the dollar bill out of the window.

How much is the commission you pay? 1-2pips?
Traders with spread would than need to add their spreads to the SL accordingly.

I posted earlier that you can simply add your spread to the take profit and the stop loss, its no problem. If you want, I can program the excel sheet to include the spread. Ill do that when I get back home today.

Nip
Nothing is hard, some things just take more time and discipline.
  • #20
  • Jun 25, 2007 6:41am Jun 25, 2007 6:41am
Quoting budi_838
anyone can make EA for this strategy?
with EA it's very good...

I agree...I wish I could do it. It would make things easier since this strat has a lot of stop and reversing, which could get hard to do by hand.
Nothing is hard, some things just take more time and discipline.
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