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NipThePips' Boomerang

  • #61
  • Jun 28, 2007 1:36pm Jun 28, 2007 1:36pm
Here are some of the TP levels that I use for the 3 currency pairs I trade the most



EUR/USD (100% at 5Pips...Not really a mover)

GBPUSD (50-75% at +10 Pips....Trailing stop from there)

GBPJPY ( 50-75% at +10-15 pips...depending on prior market energy...trailing stop from there)


As always it is what you feel comfortable with...Honestly I dont mind unloading 100% of the posistion as soon as it reaches TP....but some people like to catch the trend. But with 25-30 pips with this sytem each day, and another 15 or so pips from another system each day...thats 45 pips a day, give or take a little and you will have more than enough to go to the next lvl.


If anyone has a pair that they like, let me know so I can do some test on it and see if The Boomerang is profitable on it, and if so at what settings.


Thanks Nip
Nothing is hard, some things just take more time and discipline.
  • #62
  • Jun 28, 2007 1:47pm Jun 28, 2007 1:47pm
Quoting NipthePips
If anyone has a pair that they like, let me know so I can do some test on it and see if The Boomerang is profitable on it, and if so at what settings.
I like Eur/Jpy.
I bet it'll do well!
Thanks Nip

FXS
  • #63
  • Jun 28, 2007 2:43pm Jun 28, 2007 2:43pm
Quoting FXSurfer
I like Eur/Jpy.
I bet it'll do well!
Thanks Nip

FXS


What a beautiful pair....

It is great, I never noticed the trending movement it has. really appreciate you bringing it to my attention


Right now it seems that it is best to shoot for the 10-15 pip initial profit with a 50% unload there...Trailing stop system should do find there after, since when this thing moves, it moves far.

I am going to trade this pair for a couple of days and see what I come up with, please feel free to let me know if you came up with anything.
Nothing is hard, some things just take more time and discipline.
  • #64
  • Jun 28, 2007 7:30pm Jun 28, 2007 7:30pm
I have concluded that if you are trading this method on a retail broker, you are going to want to stick to pairs that are no more than 3 or 4 pips...that means, that most likely you will not be able to trade GBPJPY with this system


Otherwise, You should be ok...
Nothing is hard, some things just take more time and discipline.
  • #65
  • Jun 28, 2007 8:47pm Jun 28, 2007 8:47pm
Quoting NipthePips
If anyone has a pair that they like, let me know so I can do some test on it and see if The Boomerang is profitable on it, and if so at what settings.


Thanks Nip
Hi Nip,
Could you test the EUR/CHF AND the AUD/USD?
Thanks very much

Ken
  • #66
  • Jun 28, 2007 9:27pm Jun 28, 2007 9:27pm
eur/jpy is currently my favorite pair, and i bet this system will work very well on it, as it tends to move in 20-25 pip swings during london trading. i generally straddle the london open and get 20-60 pips in an hour or two.
  • #67
  • Jun 29, 2007 6:56am Jun 29, 2007 6:56am
Quoting trevwest
eur/jpy is currently my favorite pair, and i bet this system will work very well on it, as it tends to move in 20-25 pip swings during london trading. i generally straddle the london open and get 20-60 pips in an hour or two.


Yea, I am slowly falling in love with EURJPY, It works good on the boomerang, and for the daily system i am testing out. Great pair!
Nothing is hard, some things just take more time and discipline.
  • #68
  • Jun 29, 2007 6:58am Jun 29, 2007 6:58am
Quoting Pip Rage
Hi Nip,
Could you test the EUR/CHF AND the AUD/USD?
Thanks very much

Ken

Ok! Ill get to it later today
Nothing is hard, some things just take more time and discipline.
  • #69
  • Jun 30, 2007 4:32am Jun 30, 2007 4:32am
Hello NipthePips,

Thanx for sharing your Unusual & Profitable system. I have been demo-trading it & it certainly does seem to catch the Pips like you say. I notice you mentioned a Daily system you were working on. Is this based on the same general idea? Hope you will share this too, because if it is anything like the Boomerang it has got to be good.
Happy Karma

TORAG
  • #70
  • Jun 30, 2007 11:57am Jun 30, 2007 11:57am
Quoting TORAG
Hello NipthePips,

Thanx for sharing your Unusual & Profitable system. I have been demo-trading it & it certainly does seem to catch the Pips like you say. I notice you mentioned a Daily system you were working on. Is this based on the same general idea? Hope you will share this too, because if it is anything like the Boomerang it has got to be good.
Happy Karma

TORAG
I will second this request. Please share if you may. Thanks
  • #71
  • Jun 30, 2007 1:49pm Jun 30, 2007 1:49pm
Quoting TORAG
Hello NipthePips,

Thanx for sharing your Unusual & Profitable system. I have been demo-trading it & it certainly does seem to catch the Pips like you say. I notice you mentioned a Daily system you were working on. Is this based on the same general idea? Hope you will share this too, because if it is anything like the Boomerang it has got to be good.
Happy Karma

TORAG

Hey if you mine, do you mine sharing your results...IE which days you traded, what pair, and which 4 hr bar?

Thnx


Also, as soon as I finish doing some final testing, I will make a document...and if everything is cool (such as if I am able to share the system) I will make another thread.
Nothing is hard, some things just take more time and discipline.
  • #72
  • Jun 30, 2007 2:02pm Jun 30, 2007 2:02pm
Hi Nip!

Thanks for sharing the Boomerang! It looks promising for me and I am going to give it a try.

I am wondering of the right timing issue... You said you trade mainly the London session, as far as I remember. May I ask who is your broker/charts provider, and what is his server time? The 4h candles may be different on different timezones...

Do you think this may have any affect on your system's performance?

Thanks!

Oyster
"It takes hard work, but ya know what's comin' after..."
  • #73
  • Jun 30, 2007 2:30pm Jun 30, 2007 2:30pm
Hello NipthePips,

Thanx for your reply. I demo-traded on ForexInterbank's Training Simulator using £/$ 4H Bar on 10sec update. This is software which lets you trade & run Historical Data @ various speeds. I traded about 8 seperate dates from 2006 & each time ended up about 10 pips in profit, sometimes slightly less & sometimes more due to slippage. The software tends to lag a bit but still was useful enough to show your system working. Several times there was bounces, but I think 3 was the max.
Look forward to testing it with real money. I tend to work most of the London session so I stuggle to trade small time frames, so will certainly look forward to Daily system if you do manage to release it.
Happy Day
TORAG
  • #74
  • Jun 30, 2007 5:13pm Jun 30, 2007 5:13pm
Quoting Oyster
Hi Nip!

Thanks for sharing the Boomerang! It looks promising for me and I am going to give it a try.

I am wondering of the right timing issue... You said you trade mainly the London session, as far as I remember. May I ask who is your broker/charts provider, and what is his server time? The 4h candles may be different on different timezones...

Do you think this may have any affect on your system's performance?

Thanks!

Oyster

Timing should not be an issue...regardless of the time zone, as long as the currency moves in 4 hours it should be fine. The trend will always be relatively the same no matter what time zone you are in.
Nothing is hard, some things just take more time and discipline.
  • #75
  • Jun 30, 2007 5:14pm Jun 30, 2007 5:14pm
Quoting TORAG
Hello NipthePips,

Thanx for your reply. I demo-traded on ForexInterbank's Training Simulator using £/$ 4H Bar on 10sec update. This is software which lets you trade & run Historical Data @ various speeds. I traded about 8 seperate dates from 2006 & each time ended up about 10 pips in profit, sometimes slightly less & sometimes more due to slippage. The software tends to lag a bit but still was useful enough to show your system working. Several times there was bounces, but I think 3 was the max.
Look forward to testing it with real money. I tend to work most of the London session so I stuggle to trade small time frames, so will certainly look forward to Daily system if you do manage to release it.
Happy Day
TORAG
Oh ok....try out EURJPY too.....I would just tend to stay away from GBPJPY (if you are trading with a high spread) and EURUSD (because it doesnt really move...unless you go for like 3-5 pips net profit instead of 10)
Nothing is hard, some things just take more time and discipline.
  • #76
  • Jun 30, 2007 5:30pm Jun 30, 2007 5:30pm
Also this daily system works similar...and you would still have to monitor it sorta...It just takes a little longer for the signal to be valid (could happen anytime of day), and A little longer to TP, and there is one signal a day.


So I doubt it would solve your problems TORAG.
Nothing is hard, some things just take more time and discipline.
  • #77
  • Jun 30, 2007 6:21pm Jun 30, 2007 6:21pm
Hello NipthePips,
Thanx for the advice. Will take it on board.
Happy Day
TORAG
  • #78
  • Jul 1, 2007 1:50am Jul 1, 2007 1:50am
Quoting trevwest
eur/jpy is currently my favorite pair, and i bet this system will work very well on it, as it tends to move in 20-25 pip swings during london trading. i generally straddle the london open and get 20-60 pips in an hour or two.
Hi,
i have also been looking into straddling the london or frankfurt open for some pairs especially Cable and EUR/JPY.E/J is a good pair cause of low apread and decent movement.
Do you mind sharing your straddling parameters like what is the straddle distance, the TP and SL?
thanks
learn something everyday
  • #79
  • Edited 2:22am Jul 1, 2007 1:52am | Edited 2:22am
Sorry to post off topic in your thread NipThepips.
excellent strategy and a really well written document.
Will Demo this for sometime
thanks for sharing
learn something everyday
  • #80
  • Jul 1, 2007 2:32am Jul 1, 2007 2:32am
Hi Nip,

Fine system, to say the least. It seems that I must be thickheaded (very) and unable to grasp simple things. I say this because nobody complained about, what I see as typo/s, in the word doc.

On the page before the first M5 chart, "So now we see that our initial trade will be long at 1.9672 with a take profit at 9682 (initial take profit)."

Next page second row "Price continued to climb, the next 20% was closed at 1.9682.The next 20% at 1.9694, and the last 10% at 1.9690"

If price continued to climb after initial TP then close should be at what (1.9692?) And how does the 1.9694 fit in, it's neither 10 nor 15 pips?

Sorry, but I'm completely baffled.

Could you please elaborate for me/us.

Thanks

herty
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