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Daily95pips

  • #141
  • Sep 5, 2007 11:40am Sep 5, 2007 11:40am
Quoting bksujal
firstly mate the date your asking is 08/31
now the range on 08/30 was 219 pips the high was 158.96 and the low was 156.77 so the 10% of the range is 21.9 round it to 22 pips so your entry points for the next day will be previous day's high minus 22 pips for going short and for going long your entry point for the next day will be previous day's low plus 22 pips.
To go short 158.96-22 pips = 158.74
To go long 156.77+22 pips = 156.99
Finally remember your day is supposed to start at 17:00 Et and end at 17:00 Et.
What SL and TP are you using. And are you using multiple entries with different TP's or just 1 entry. Thanks and God Bless
Live today as if you will stand before God tomorrow.
  • #142
  • Sep 5, 2007 11:49am Sep 5, 2007 11:49am
Quoting bksujal
firstly mate the date your asking is 08/31
now the range on 08/30 was 219 pips the high was 158.96 and the low was 156.77 so the 10% of the range is 21.9 round it to 22 pips so your entry points for the next day will be previous day's high minus 22 pips for going short and for going long your entry point for the next day will be previous day's low plus 22 pips.
To go short 158.96-22 pips = 158.74
To go long 156.77+22 pips = 156.99
Finally remember your day is supposed to start at 17:00 Et and end at 17:00 Et.
Very nice You gave me some new ideas Thanx I've been thinking about such a thing earlier. High and lows are natural S/R so if they are not broken then your method could come into play.
.
  • #143
  • Sep 5, 2007 11:50am Sep 5, 2007 11:50am
The only problem when you have strong trending weeks... when the trend is constantly going...
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  • #144
  • Sep 5, 2007 11:52am Sep 5, 2007 11:52am
i use 1:2 RR Ratio and it depends on the pair your trading and please before trading have a look at the Atr that is what i look at and set my tp.
Cheers!!!
Regards,
Bksujal
  • #145
  • Sep 5, 2007 11:59am Sep 5, 2007 11:59am
Quoting bksujal
i use 1:2 RR Ratio and it depends on the pair your trading and please before trading have a look at the Atr that is what i look at and set my tp.
Cheers!!!
Regards,
Bksujal
Thanks for replying back. All i have to figure out now is how to use and interpet the ATR indicator. Thanks and God Bless.
Live today as if you will stand before God tomorrow.
  • #146
  • Sep 5, 2007 12:35pm Sep 5, 2007 12:35pm
Till now i must tell you i have had a 100% in the last 2 weeks. I learnt in my course and made my own interpretation of it and this is what i produced.
  • #147
  • Sep 5, 2007 12:47pm Sep 5, 2007 12:47pm
Have A Look At This Chart For Usd/jpy The Range For Yesterday Was 108 Pips So The 10% Is 10.8 Round To 11 Pips.
To Go Short The Entry Point Is 116.42-11 Pips = 116.31
And You Must Go Short Remember It Is Important To Note Where The Price Closes At The End Of The Day If It Ends Somewhere Near The Highs Then Your Idea Should Just Be To Go Short And Not Long. Please Keep That In Mind.
Attached Image (click to enlarge)
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  • #148
  • Sep 5, 2007 12:52pm Sep 5, 2007 12:52pm
How do you use the ATR with your method and what setings.

Thanks


Quoting bksujal
Have A Look At This Chart For Usd/jpy The Range For Yesterday Was 108 Pips So The 10% Is 10.8 Round To 11 Pips.
To Go Short The Entry Point Is 116.42-11 Pips = 116.31
And You Must Go Short Remember It Is Important To Note Where The Price Closes At The End Of The Day If It Ends Somewhere Near The Highs Then Your Idea Should Just Be To Go Short And Not Long. Please Keep That In Mind.
It's All About Attitude ...
  • #149
  • Sep 5, 2007 1:23pm Sep 5, 2007 1:23pm
Quoting SynWind
hi

i am not too sure if you really want to go real on this one in this week. cos this friday US is reporting Non-farm payroll. usually during this time.. the market is very volatile.. suddenly up and down usually happen quite offen. you might want to consider to try real next week.

regards
Hi Syn,

Thanks for your concern, but I am aware of the NFP report and have no intention of trading Friday. If it gets too crazy for me, I usually stay out.

Take care...
Jeff Singer, K2KV
  • #150
  • Sep 5, 2007 2:02pm Sep 5, 2007 2:02pm
Hi Bksujal,

Please correct me if I'm wrong, but it appears that your strategy is the opposite of Mikelath's "Daily 95 Pips" system.

He goes long on the previous day's high, plus 5 pips. However, you go short on the previous day's high, less 10% of the day's range.

He goes short on the previous day's low, less 5 pips. However, you go long on the previous day's low, plus 10% of thd day's range.

In summary, it seems that your strategy is a retracement strategy, while Mikelath's strategy is a trending strategy. Perhaps there's a way to blend the best of the two strategies. Any suggestions...

What are your SL & TP for a given currency pair (I believe you mentioned that your r/r is 1:2)?

Also, wouldn't it be better to not factor in the 10% of ATR? It seems that by including thiis item you increase the risk...

Thanks,

Walt
  • #151
  • Sep 5, 2007 2:11pm Sep 5, 2007 2:11pm
Quoting bullrock
I have added a 4th unit (lot or whatever) that runs till the end of the day. Sometimes this can scoop 200 pips just alone. This might give some extra boost to the results. I am demo testing this strategy. Or variation of this.
Hi Bullrock,

You mentioned on post #142 that Bksujal's system gave you "some new ideas" along the lines of what you've been considering, as the daily Highs & Lows are inherently S&R points. How would you merge the strategy in the above quote with Bksujal's strategy?

Thanks,
Walt
  • #152
  • Sep 5, 2007 2:25pm Sep 5, 2007 2:25pm
Quoting bksujal
hey mike i have a similar method to this i cannot guarantee 95 pips on a daily basis but yes 50 pips are almost certain and this is an example from the eur/jpy pair guys have a look.
Regards,
Bksujal
Quoting bksujal
hey mike i have a similar method to this i cannot guarantee 95 pips on a daily basis but yes 50 pips are almost certain and this is an example from the eur/jpy pair guys have a look.
Regards,
Bksujal
Hi Bksujal,

Looks like a very intriguing system, and I'm sure many folks might be interested in learning more about it, including me. However, the two strategies appear to be quite different, and hardly related.

With all due respect, and for the sake of courtesy to the originator of this thread, it might be more appropriate (and advantageous) for you to start your own thread where you can enjoy much greater discussion and focus more closely on your own specific methods, without diluting our focus here on the Daily95pips strategy.

Hope I'm correct here, I mean no offense whatsoever...
Jeff Singer, K2KV
  • #153
  • Sep 5, 2007 3:37pm Sep 5, 2007 3:37pm
I have been lurking on this and many other strategies and I must say that this thing is sweet. I will start micro-trading this today. I for one can not seriously trade demo. I just can't do it. Even if its pennies I am focused. As far as blending to opposite strategies I personally wouldn't. I would instead use it on some of the other pairs that do a lot of head-fakes. The Aud/usd is a perfect example. Of course I will later test what I have proposed with the other system. Just wanted to stop in and say thanks to Mikelath for bringing a great strategy to the table even if he isn't the author. A lot of the other posts are filled with mediocre systems that have at best a 40% success rate. Thanks Mike.

Cuda
  • #154
  • Sep 5, 2007 4:01pm Sep 5, 2007 4:01pm
Quoting Chadrlz
I have been lurking on this and many other strategies and I must say that this thing is sweet. I will start micro-trading this today. I for one can not seriously trade demo. I just can't do it. Even if its pennies I am focused. As far as blending to opposite strategies I personally wouldn't. I would instead use it on some of the other pairs that do a lot of head-fakes. The Aud/usd is a perfect example. Of course I will later test what I have proposed with the other system. Just wanted to stop in and say thanks to Mikelath for bringing a great strategy to the table even if he isn't the author. A lot of the other posts are filled with mediocre systems that have at best a 40% success rate. Thanks Mike.

Cuda
mate I recommend try it out on a demo please and dont get so excited everyone that all lose in this strategy. I recommend this works best for eur pairs ,and yes I agree this strategy is not so similar to mike's but yes it does have something similar with it that is the high's and low's
Regards,
Bksujal
  • #155
  • Sep 5, 2007 4:11pm Sep 5, 2007 4:11pm
Quoting jones247
Hi Bksujal,

Please correct me if I'm wrong, but it appears that your strategy is the opposite of Mikelath's "Daily 95 Pips" system.

He goes long on the previous day's high, plus 5 pips. However, you go short on the previous day's high, less 10% of the day's range.

He goes short on the previous day's low, less 5 pips. However, you go long on the previous day's low, plus 10% of thd day's range.

In summary, it seems that your strategy is a retracement strategy, while Mikelath's strategy is a trending strategy. Perhaps there's a way to blend the best of the two strategies. Any suggestions...

What are your SL & TP for a given currency pair (I believe you mentioned that your r/r is 1:2)?

Also, wouldn't it be better to not factor in the 10% of ATR? It seems that by including thiis item you increase the risk...

Thanks,

Walt
Hi Bksujal,

What are your SL & TP? How do you protect against a trending pattern? Would you consider not including the 10% ATR adjustment for opening your positions?

Thanks,
Walt
  • #156
  • Sep 5, 2007 4:19pm Sep 5, 2007 4:19pm
Quoting jones247
Hi Bksujal,

What are your SL & TP? How do you protect against a trending pattern? Would you consider not including the 10% ATR adjustment for opening your positions?

Thanks,
Walt
FIRSTLY MATE I DO USE 1:2 RATIO FOR MOST OF MY TRADES AND WELL I AM NOT A LONG TERM TRADER SO THE TREND IS IMPORTANT BUT IN THIS CASE IT HAS VERY LITTLE TO DO WITH THE MOVES ON A DAILY BASIS FOR ME. I JUST USE ATR TO CHECK THE VOLATILITY OF THE PAIR WHICH I AM TRADING IN, FOR INSTANCE, FOR EUR/USD MY TP WOULD JUST BE 50 PIPS WHEREAS FOR EUR/JPY IT WOULD BE A 100 PIPS PLUS!!!
REGARDS,
BKSUJAL
  • #157
  • Sep 5, 2007 4:23pm Sep 5, 2007 4:23pm
I've had some thoughts about this strategy in the past day and unless I'm wrong (Likely!) this appears to be a hedging system with money management.

The first thing I thought with a system like this was to reduce it to the simplest component. What would happen if you placed two trades. Long SL at say 30, TP at 60 and likewise for short. Then no matter what the market does you profit unless the market does nothing in which case you loose nothing. 30 pips a day but what is the risk?

I'm sure there is a flaw here, but I'm not sure what it is?
  • #158
  • Sep 5, 2007 4:29pm Sep 5, 2007 4:29pm
Ok guys then I'm signing off for today good luck to everyone for their trades.
Cheers and HAPPY TRADING.
Regards,
Bksujal
  • #159
  • Sep 5, 2007 4:31pm Sep 5, 2007 4:31pm
Quoting jones247
Hi Bullrock,

You mentioned on post #142 that Bksujal's system gave you "some new ideas" along the lines of what you've been considering, as the daily Highs & Lows are inherently S&R points. How would you merge the strategy in the above quote with Bksujal's strategy?

Thanks,
Walt
My idea is to do this. We got the high and low of the previous day.
So as per the rules of Daily95pips I go long high+5 pips and go short high -10% of the previous days high-low. The SL of the long is the short leg. We could do on another account or if hedging available on the same account the reverse. Or if the previous bar is bullish just do the long/short leg. if the previous bar is bearish than do the short/long leg. But this is a completely different strategy and would require another thread.
.
  • #160
  • Sep 5, 2007 4:42pm Sep 5, 2007 4:42pm
Quoting bullrock
I have added a 4th unit (lot or whatever) that runs till the end of the day. Sometimes this can scoop 200 pips just alone. This might give some extra boost to the results. I am demo testing this strategy. Or variation of this.
Sounds good bullrock. Please share your results on this thread.

mike
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