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Please suggest a simple & effective Method/System of "Trading System" Forum to newbie

  • #41
  • Jul 14, 2007 5:23pm Jul 14, 2007 5:23pm
Quoting BeachBum
My apologies for not responding sooner.............

I am not the most qualified person to ask about Excel useage; it comes very slowly for me, hence the extra time to do my testing. There are excellent online tutorials on how to use Excel. I bought a book years ago that I refer to regularly. Now there are CD and DVD training videos.............the list of resources is lengthy. For me personally, it has been a matter of deciding what I want to do with an xls and then researching how to do it. I use MetaTrader data from Alpari. HTH....all the best with your research and testing!

Thanks for the reply but that was not what I was asking. While I am rusty, (very rusty at that) I know how to use excel, for I use to teach it. What I was looking for is the source of data, something that would give me the ability to either do a straight cut and paste into excel or save it into a text file to import into excel. Is there a source buried in MetaTrader that I do not know about?
  • #42
  • Jul 15, 2007 3:08am Jul 15, 2007 3:08am
Quoting joiedevivre
Hi All---. Do you close out EXACTLY one day later or whrn you are in profit? If you find you are in a bad position do you wait for that to fix itself before starting the cycle again. Thank you for your help.....Susan
One thing that has emerged in my testing is that the profit potential will vary enormously according to how often you are able to monitor the trade after placing it. On one day of my test when I wasn't at work I entered at 7.45am GMT and by 1pm I was over 80 pips up but later in the day at 6.30pm which would normally have been my first opportunity to check it I would have had to settle for much less and this lower figure carried over to 7.45am the next day.
  • #43
  • Jul 15, 2007 10:47am Jul 15, 2007 10:47am
Try this....right before swap time buy the 2 pairs that pay interest...in this case that would be the USD/CHF and the USD/JPY. After swap has been paid then immediately buy the GBP/USD and the EUR/USD. By doing this it will improve their profit. And, if you do this on Wednesdays which are triple interest days so much the better...smile. A ? for Bundubill...was so pleased to see your results...did you have any s/l on those? From what you say no t/p either. The best of good trades to all this week....
  • #44
  • Jul 15, 2007 1:51pm Jul 15, 2007 1:51pm
Sorry for the confusion about your question. I use the "History Center" under "Tools" in MT4 for my data source. Many FF members write that Alpari has the best and most extensive data history and I think you can go to their website and simply download the files. This is a topic that has been written about here at FF. I'm sure a search of the forum will turn-up more detailed information on this topic, but for now, this should get you started. HTH!

Quoting muchtolearn
Thanks for the reply but that was not what I was asking. While I am rusty, (very rusty at that) I know how to use excel, for I use to teach it. What I was looking for is the source of data, something that would give me the ability to either do a straight cut and paste into excel or save it into a text file to import into excel. Is there a source buried in MetaTrader that I do not know about?
  • #45
  • Jul 15, 2007 3:09pm Jul 15, 2007 3:09pm
Quoting joiedevivre
A ? for Bundubill...was so pleased to see your results...did you have any s/l on those? From what you say no t/p either. The best of good trades to all this week....
Yes I was using the s/ls proposed by BeachBum in post 16 but not t/ps

Good luck
  • #46
  • Jul 15, 2007 8:31pm Jul 15, 2007 8:31pm
Quoting mrmikal
I'm not 100% keen on the system, because it seems to me that it would just be a play on the carry trade against the (EURJPY, GBPJPY, EURCHF and GBPCHF). As long as the JPY and CHF are weak, you'll be in great shape.

As far as closing and starting over, also doesn't make sense. Unless you wait for a pull-back or you're buying at a specific time of day every day (in essence dollar-cost-averaging), then it's pointless...you're just paying the spread for no good reason.

It's hard to argue, though, as long as the JPY and CHF remain weak, you're in pretty good shape.
Hello All!

Thanks so much for your work on the "No-Brainer"!

A quick question:
It seems like M's concern is correct but not neccessarily that
problematic.

How about this simple hedge strength monitor?

Just a newbie thought!
Have a great week and THANKS AGAIN!

FXS

Oh yeah, also: If the tables did turn, could we sell it?
Newbies need to know!
Attached Image (click to enlarge)
Click to Enlarge Name: usd hedge.jpg Size: 128 KB
  • #47
  • Jul 16, 2007 9:36am Jul 16, 2007 9:36am
Quoting BeachBum
I week.

Followed the above rules exactly, no deviations!

EUR/USD +133
GBP/USD +204
USD/CHF -102
USD/JPY -94

Total +141.........average 28 pips per day.

Hi BeachBum,

In an earlier post you mentioned the possibility of intervening at some point during the 24 hours to close down losers that were drifting badly and I'm not sure if this is included in your 'rules'. Can I ask did you intervene at all or did you just allow the trades to run for 24 hours.

Thanks
  • #48
  • Jul 16, 2007 10:01am Jul 16, 2007 10:01am
Quoting bundubill
Hi BeachBum,

In an earlier post you mentioned the possibility of intervening at some point during the 24 hours to close down losers that were drifting badly and I'm not sure if this is included in your 'rules'. Can I ask did you intervene at all or did you just allow the trades to run for 24 hours.

Thanks
No intervention............all trades ran for "almost" 24 hours.
  • #49
  • Jul 17, 2007 1:53am Jul 17, 2007 1:53am
Quoting BeachBum
No intervention............all trades ran for "almost" 24 hours.
Thanks BB
  • #50
  • Edited 11:17am Jul 18, 2007 6:49am | Edited 11:17am
Hi all,

I'm newbie and just practicing this technique on demo acct. fyi, in my 1:200 leverage mini acct, the value for I pips is not the same for each pairs :

Eur/Usd 1 pip = $1.00
Gbp/Usd 1 pip = $1.00
Usd/Chf 1 pip = $0.83
Usd/Jpy 1 pip = $0.82

Will this make any big impact on the P/L later? or the pips value need to be of same value?

Thank in advance
  • #51
  • Jul 18, 2007 7:11am Jul 18, 2007 7:11am
Quoting bundubill
Hi BeachBum,

In an earlier post you mentioned the possibility of intervening at some point during the 24 hours to close down losers that were drifting badly and I'm not sure if this is included in your 'rules'. Can I ask did you intervene at all or did you just allow the trades to run for 24 hours.

Thanks
If I might speak on behalf of BeachBum for a moment - and I believe I understand this correctly - BeachBum doesn't personally intervene BECAUSE he's set a Stop/Loss that does the intervening for him if need be.

BeachBum's method is Set It & Forget It for 23.9 hours. Then start over.

P.S. Thanks for the updated results, BeachBum.
  • #52
  • Jul 18, 2007 7:29am Jul 18, 2007 7:29am
You're correct brentmack..............

This is a way of trading that I am not seriously pursuing; just passing a little time, having some fun and learning a few things.

Quoting brentmack
If I might speak on behalf of BeachBum for a moment - and I believe I understand this correctly - BeachBum doesn't personally intervene BECAUSE he's set a Stop/Loss that does the intervening for him if need be.

BeachBum's method is Set It & Forget It for 23.9 hours. Then start over.

P.S. Thanks for the updated results, BeachBum.
  • #53
  • Jul 19, 2007 2:24am Jul 19, 2007 2:24am
Quoting BeachBum
You're correct brentmack..............

This is a way of trading that I am not seriously pursuing; just passing a little time, having some fun and learning a few things.
Hi BB,

Just a thought from the depth of my inexperience. The eur/usd seems to be more volatile now that it's floating around all time highs. If you were trading the method seriously would you consider increasing the s/l for this pair to the same level as cable whilst it is at these levels? I ask because yesterday I had the pair stopped out and obviously this type of trade loses something of its equilibrium when one of the pairs gets stopped out. Although I still managed to exit around 7.45am GMT with over 20 pips, eur/usd had started to rally and was starting to push usd/chf down.

Thanks
  • #54
  • Jul 19, 2007 2:33am Jul 19, 2007 2:33am
4H + Daily TF, follow the trend, be patient, good Money Management

You win.
Trade what you see, not what you think.
  • #55
  • Jul 19, 2007 7:56am Jul 19, 2007 7:56am
Quoting bundubill
Hi BB,

Just a thought from the depth of my inexperience. The eur/usd seems to be more volatile now that it's floating around all time highs. If you were trading the method seriously would you consider increasing the s/l for this pair to the same level as cable whilst it is at these levels? I ask because yesterday I had the pair stopped out and obviously this type of trade loses something of its equilibrium when one of the pairs gets stopped out. Although I still managed to exit around 7.45am GMT with over 20 pips, eur/usd had started to rally and was starting to push usd/chf down.

Thanks
bundubill........................I can't really give you a definitive answer because I have no intention of seriously pursuing this method which means I won't be doing my usual extensive backtesting. However, in the brief backtest I did last week, there were days when pairs were stopped out AND there were days when a pair ran 100+ pips too. The end result was modestly positive. HTH!
  • #56
  • Edited 9:30am Jul 19, 2007 9:25am | Edited 9:30am
Quoting BeachBum
bundubill........................I can't really give you a definitive answer because I have no intention of seriously pursuing this method which means I won't be doing my usual extensive backtesting. However, in the brief backtest I did last week, there were days when pairs were stopped out AND there were days when a pair ran 100+ pips too. The end result was modestly positive. HTH!
Thanks BB. I don't want to harrass you but can I ask you is your intention not to pursue it seriously because you doubt its long term success or because you see the returns as being too modest for the time spent

Thanks
  • #57
  • Jul 19, 2007 1:29pm Jul 19, 2007 1:29pm
Quoting bundubill
Thanks BB. I don't want to harrass you but can I ask you is your intention not to pursue it seriously because you doubt its long term success or because you see the returns as being too modest for the time spent
Thanks
Hi bundubill.......

IMO there are many trading strategies/methods/systems that can turn a profit with proper RR and MM and this is probably one of them. I'm not interested in seriously pursuing this because I prefer other methods of trading with less risk and greater profitability. It takes a lot of trading to produce a modest number of pips; more trading then is compatible with my personal comfort level. (Just as an FYI; if this "hedge" method was to be applied to weekly chart trading, the results would be about 1600+ pips since Jan 1, 2007. But the S/L's would need to be rather large. On the up-side though, you would only trade twice a week.......... )
  • #58
  • Jul 19, 2007 2:27pm Jul 19, 2007 2:27pm
Quoting BeachBum
Hi bundubill.......

IMO there are many trading strategies/methods/systems that can turn a profit with proper RR and MM and this is probably one of them. I'm not interested in seriously pursuing this because I prefer other methods of trading with less risk and greater profitability. It takes a lot of trading to produce a modest number of pips; more trading then is compatible with my personal comfort level. (Just as an FYI; if this "hedge" method was to be applied to weekly chart trading, the results would be about 1600+ pips since Jan 1, 2007. But the S/L's would need to be rather large. On the up-side though, you would only trade twice a week.......... )
Very enlightening. Thanks BB

Good luck
  • #59
  • Jul 20, 2007 5:36am Jul 20, 2007 5:36am
MM=money mgmt....right? What is RR? Also, would you please explain weekly trading about 2 times/week? I don't understand what you mean. Two times this week I have captured 32 and 34 pips. I closed out within the 24 hour time period when I saw I was in profit. This was in a demo and I am thrilled with these results. Thanks for all your help....
  • #60
  • Jul 20, 2007 5:47am Jul 20, 2007 5:47am
MM = Money Management
RR = Risk:Reward ratio
Trade what you see, not what you think.
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