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Daily95pips

thanks for the replies guys. bullrock, do you use a specific piece of software to test the various strategies?

bksujal, say the market is ranging and has gone long the previous day and you are looking to go short for the current day. what do you do if the close of the market is already above the 10% of the previous day's range applied to the low?

thanks guys
Quoting vder
thanks for the replies guys. bullrock, do you use a specific piece of software to test the various strategies?

bksujal, say the market is ranging and has gone long the previous day and you are looking to go short for the current day. what do you do if the close of the market is already above the 10% of the previous day's range applied to the low?

thanks guys
This happens to me since I started testing this. I get home well after 5 est from work. I just set a buy or sell limit and they have been filled each time on a retrace. If it does not retrace...oh well you can trade another day.

Chris
how long you'll be testing this mikelath ???
Every moment in the market is unique
Quoting casperbet
Thanks for sharing the EA.

On which timeframe does the EA runs? and do you just attach it to a chart like GBPUSD?

Thanks
Attach it to whatever pair and timeframe you want. EA uses current chart settings.
It uses original mikelath's rules (post #1). Currently I'm backtesting different variations (from bksujal, bullrock, mike and me ).
As someone asked about 5 p.m. Et, yes after you determine the range and take the 10% of it. Add the 10% of the range to the previous day's low and that is our entry point for the day to go long. Subtract 10% of the previous day's range to the previous day's high that is our entry for the day to go short. Remember if the day ends near to the lows we would only look to go long and if it ends near to the high's then we would look to go short only. And yes we would place our orders immediately after doing all the calculations and then placing our orders.
Regards,
Bksujal
what time did you enter your eur/jpy order for today?
hi guys

sorry bksujal for adding to questions coming but how do u get TP out of ATR ?
Hey sameer i just use the Atr to determine the range thats it. Not to decide for the tp's. I have a usual target around 75-100 pips. And today i placed my order at 17:30 Et.
Regards,
Bksujal
Hi bksujal!

I like what I see with your trading strategy. Since the market ranges 80% of the time, it only makes sense, that once the price reaches resistance points that it will attempt to return to equilibrium rather than continue towards a breakout (80% of the time). So, it would seem the odds are with you.

Last night I used your trading style for the first time to gain 50 pips on the EUR/JPY. Can't wait for tonight to trade, again.

I have been successful with both the D20P strategy and the 95Pips strategy. I prefer your 1:2 risk to reward ratio over the others...hope the profits hold up. Your trading style has been characterized as a "ranging strategy" as opposed to the 95Pips strategy as a "trending strategy". I don't see that description as being all that relevant as the EUR/JPY has been "ranging" around 200 pips per day. It's not a classic retrace or pull back trade, either. So...what do we call your style of trading?

Could you please provide us with the exact SL and TP levels for each currency pair that you are trading? Last night I used 30 SL and 50TP which isn't exactly your 1:2 ratio. If you post your parameters, I promise to behave, tonight.

Much appreciated
Bobcat2
Do you mean yesterday at 1730ET?
And sorry for the newbie question, but can you tell me how to get the range from the ATR?
Will subtracting the previous high from the previous low give you the same number?
for instance, in post #140 you posted the high was 158.96 and the low was 156.77, for 10% you got 21.9
if you subtract the low from the high you get 2.19, which if you move the decimal out, you would get the same
number. I guess my question is, will this work? or is using the ATR better, and how can you read that
from the ATR? Its a new indicator for me, as i normally just just stochs and MACD.
Thanks for the help.

Quoting bksujal
Hey sameer i just use the Atr to determine the range thats it. Not to decide for the tp's. I have a usual target around 75-100 pips. And today i placed my order at 17:30 Et.
Regards,
Bksujal
Quoting c0mputernick
Do you mean yesterday at 1730ET?
And sorry for the newbie question, but can you tell me how to get the range from the ATR?
Will subtracting the previous high from the previous low give you the same number?
for instance, in post #140 you posted the high was 158.96 and the low was 156.77, for 10% you got 21.9
if you subtract the low from the high you get 2.19, which if you move the decimal out, you would get the same
number. I guess my question is, will this work? or is using the ATR better, and how can you read that
from the ATR? Its a new indicator for me, as i normally just just stochs and MACD.
Thanks for the help.
ATR is the range, for example ATR is 0.0117 , so the average range is 117pips. i hope that helps
Quoting bksujal
hey guys i hope everyone has earned some good pips in eur/jpy my favourite pair as you see the previous day's range was 260 so the 10% of 260 is 26 pips since the day had ended near the lows we would go long @ 155.96 that is ( the low 155.7+26 pips) and the high of the pair till now has been 156.92 so almost a 100 pips!!!
Happy trading
Regards
Bksujal
Hi Bksujal,

I calculated the exact same long entry as you. Unfortunately, I had to leave around 15:30 EST, so I placed my limit order about an hour earlier and turned off my computer thinking not much would occur until 1700. Boy, was I wrong! When I returned later I found that my buy order had been filled at 15:29, and price dropped fast to hit my -40p SL at 15:55. Just my luck!

I'll try not to do that again. Looks like everyone is making pips but me!

Jeff Singer, K2KV
Quoting k2kv
Hi Bksujal,

I calculated the exact same long entry as you. Unfortunately, I had to leave around 15:30 EST, so I placed my limit order about an hour earlier and turned off my computer thinking not much would occur until 1700. Boy, was I wrong! When I returned later I found that my buy order had been filled at 15:29, and price dropped fast to hit my -40p SL at 15:55. Just my luck!

I'll try not to do that again. Looks like everyone is making pips but me!

Please remember 17 Et to 17 Et only nothing before or after that
Regards,
Bksujal
Quoting bksujal
Please remember 17 Et to 17 Et only nothing before or after that
Regards,
Bksujal
Good advice, thanks!
Jeff Singer, K2KV
Quoting bksujal
Please remember 17 Et to 17 Et only nothing before or after that
Regards,
Bksujal
Ok, could someone check and see if i got this correct?
For Eur/Jpy from 17EST yesterday til 17EST today i got:
high - 156.36
low - 155.16
a range of 12 (156.36 - 155.16 = 1.2 or 12) should be 10%
It closed near the high so we are looking to go short.
So the order would be 156.36 - 12 = 156.24
Would this be correct?

Thanks for the help.
Quoting c0mputernick
Ok, could someone check and see if i got this correct?
For Eur/Jpy from 17EST yesterday til 17EST today i got:
high - 156.36
low - 155.16
a range of 12 (156.36 - 155.16 = 1.2 or 12) should be 10%
It closed near the high so we are looking to go short.
So the order would be 156.36 - 12 = 156.24
Would this be correct?

Thanks for the help.
Computernick,

You're way off.

First of all, to clarify the time, 17 (or 1700, or 17:00) is the same as 5:00 PM.

My numbers look like this:

High 157.36
Low 155.14
Range 222 pips
10% 22

Entry short 157.36 - 22 = 157.14

Your numbers might vary by a pip or two depending on your broker.

Hope that helps...
Jeff Singer, K2KV
hi guys

does this work for cable aswell
Thanks for the reply, I do understand the time from 5pm est the previous day til 5pm est close current day.

I must have looked at it wrong or something and was off a digit (156 instead of 157)
and that would have thrown off my range (157.36 - 155.14 = 2.22 or 10% 22)

So i see how you came up with that number now, sorry for the stupid user error, but i guess i did have the right formula to get the correct entry if i could just read the charts better ;-)

I did have a low of 155.16, so that must be a difference in the broker (i use forex.com)

Thanks for the help, i really appreciate it.

Quoting k2kv
Computernick,

You're way off.

First of all, to clarify the time, 17 (or 1700, or 17:00) is the same as 5:00 PM.

My numbers look like this:

High 157.36
Low 155.14
Range 222 pips
10% 22

Entry short 157.36 - 22 = 157.14

Your numbers might vary by a pip or two depending on your broker.

Hope that helps...
Hi people.
I feel honoured to 'host' on this thread what is potentially a great strategy shared with us by bksujal. I too have started demo trading it.
I will continue to post results for Daily95pips and will also add my results from bksujal's system. So far I've only traded EURJPY and GBPUSD with 40TP and 25SL. I'll add GBPJPY and may adjust TP and SL levels as I go.
Results for this week are as follows:

Daily95pips.
Date: Monday 10 September 2007
GBPUSD -90
GBPJPY no touch
USDJPY no touch
EURJPY no touch
EURUSD -15

Total: -105pips

Comment: The cable trade only just triggered before retracing to the stop.
Manually closed out EURUSD.


bksujal system.
Date: Monday 10 September 2007
GBPUSD +31
EURJPY +40

Total: +71pips

Comment: A great ranging day. There were a lot more pips in the EURJPY than my 40TP, so may adjust levels or use mutliple profit targets in future. Will most likely add GBPJPY to the mix. Manually closed out GBPUSD trade.
Quoting c0mputernick

Thanks for the help, i really appreciate it.

My pleasure.

Best of luck!
Jeff Singer, K2KV
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