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Daily95pips

  • #281
  • Edited 6:55am Sep 11, 2007 6:19am | Edited 6:55am
Quoting bksujal
hello guys good afternoon from here i hope many people have locked in some pips in eur/jpy my short trade entry was 157.12 and closed the position @ 156.40 a nice 72 pips and also earned in gbp/usd entered long @ 2.0265 and closed the position @ 2.0300 a nice 35 pips.
So my results for today are
Eur/jpy = 72 pips
Eur/Usd = 25 pips
Gbp/Usd = 35 pips
Someone asked about my win ratio well its a 100%!!! to be honest with you guys, but its important to know that i am just using this strategy since 2 weeks.
Regards,
Bksujal
Well that sucks, my entry point (which someone helped me with here) was 157.142 and never got executed, it was still waiting this morning when i got back to my computer. Guess ill try it again this afternoon and see what happens. Should i close out my order or let it ride until 17est where i place new orders?
EDIT: they just got placed at 7:55est, i guess ill see how it plays out anyway on my demo.
  • #282
  • Sep 11, 2007 6:23am Sep 11, 2007 6:23am
Quoting PipSnatcher
Bruce, if I may, the way I have understood his posts to say is this: he waits for the daily candle to end at 5:00 pm eastern time in the US. As soon as he makes his calculations, he places his trades regardless of where the price is at the time. If the trade gets hit, fine. If not he does not trade. Hope this helps, and Bksujal correct me if I'm wrong.
Hi PipSnatcher,

Yes, I understand what he is saying, but when I saw the price today, something just didn't add up. I looked at his sample charts where he drew the lines supposedly at 17:00 ET. I compared them to my chart and I see that the times are 1 hour off. In other words, what shows as 17:00 ET on his charts is really 16:00 EDT. I think maybe his charts are not taking daylight savings time into account and are always showing EST.

I really like the system and I want to try it out. I just want to be sure I've got the times right since they seem to be critical to getting the most pips.

Bruce
  • #283
  • Sep 11, 2007 7:25am Sep 11, 2007 7:25am
Quoting bksujal
Sorry mate i didnt see your post before. I do not trade at the market price even though its below my entry price. I placed an order and thats it, fortunately it was executed and sucessful.
Regards,
Bksujal

So, if price is below (or above) your entry price @17:00....at what price do you place your order?


T4K
  • #284
  • Sep 11, 2007 7:27am Sep 11, 2007 7:27am
Anyone can explain how the ATR indicator may set the TP and SL????

There are many people that ask for this. Please anyone can help to explaine, with a easy example. I never use this indicator...

Thanks in advance,

Giovanni.
  • #285
  • Sep 11, 2007 7:28am Sep 11, 2007 7:28am
Quoting brucehvn
Hi PipSnatcher,

Yes, I understand what he is saying, but when I saw the price today, something just didn't add up. I looked at his sample charts where he drew the lines supposedly at 17:00 ET. I compared them to my chart and I see that the times are 1 hour off. In other words, what shows as 17:00 ET on his charts is really 16:00 EDT. I think maybe his charts are not taking daylight savings time into account and are always showing EST.

I really like the system and I want to try it out. I just want to be sure I've got the times right since they seem to be critical to getting the most pips.

Bruce
You're right except that DST wouldn't account for it.
He has it marked off at 20:00 GMT.
Right now that is 1600 EDT (4PM). During EST that would be 1500 EST (3PM).
He must be under the impression that the time stamps on his chart indicate ET, when they actually don't.

EDIT- It just occurred to me what he's doing. He is showing 1H charts. The vertical lines are placed at the 20:00 GMT bar. The 20:00 GMT bar ends at 21:00. He computes his H and L between the vertical lines and places his trade at the opening of the next bar. That would be at 1700 EDT.
He is correct. His charts do not contradict what he has been saying.
  • #286
  • Sep 11, 2007 7:39am Sep 11, 2007 7:39am
you have 3 open positions is like 1 real position, of you can open 6 position to say 190 pips that's ridic...
  • #287
  • Sep 11, 2007 7:55am Sep 11, 2007 7:55am
Quoting bksujal
hello guys good afternoon from here i hope many people have locked in some pips in eur/jpy my short trade entry was 157.12 and closed the position @ 156.40 a nice 72 pips and also earned in gbp/usd entered long @ 2.0265 and closed the position @ 2.0300 a nice 35 pips.
So my results for today are
Eur/jpy = 72 pips
Eur/Usd = 25 pips
Gbp/Usd = 35 pips
Someone asked about my win ratio well its a 100%!!! to be honest with you guys, but its important to know that i am just using this strategy since 2 weeks.
Regards,
Bksujal
Bksujal - How could you have an entry point in eur/jpy of 157.12 when the 18:00 EST candle started at 156.94? Price was never close to 157.12 after 17:00 EST.

Please advise...

T4K
  • #288
  • Edited 9:15am Sep 11, 2007 8:44am | Edited 9:15am
Quoting c0mputernick
Well that sucks, my entry point (which someone helped me with here) was 157.142 and never got executed, it was still waiting this morning when i got back to my computer...

Well, I'm not having such great luck here, either.

On my charts, at 1700 EDT (it is, in fact, EDT, so I will continue to use that reference for accuracy), I entered a limit order to go short at 157.14. At 0100 this morning the price climbed up to 157.13, just 1 pip below my limit order, so no trade occurred. Later this morning, at around 0700, the price finally triggered my short but moved up a full 42 pips to knock me out with a SL of -40.

Very frustrating. I'm not sure how our friend, bksujal was able to enter at 2 pips lower in order to have his short trade triggered when it did, when we're all using the same calculations. Even if his broker is quoting prices 5 pips away, the same relationships exist, and the price at 0100 never met the entry order price.

On another day, he entered at 1730 instead of 1700, luckily catching the right price at that time.

Since a number of us seem to be experiencing a similar discrepancy, Bksujal, I must ask: Are you actually placing limit orders, or are you checking your charts after the fact to see how you would have made out, had you actually traded? Some people demo trade this way. It's not dishonest, but it's not an accurate representation.

Am I missing something here?

Can you help us out?

Thanks!
Jeff Singer, K2KV
  • #289
  • Sep 11, 2007 9:02am Sep 11, 2007 9:02am
Quoting tim4kaye
Bksujal - How could you have an entry point in eur/jpy of 157.12 when the 18:00 EST candle started at 156.94? Price was never close to 157.12 after 17:00 EST.

Please advise...

T4K
Sorry for the late reply. Okay now i had placed my order and thats it i did not go short when it was below my entry price. I just placed my order and waited for it to get executed.
Regards,
Bksujal
  • #290
  • Sep 11, 2007 9:07am Sep 11, 2007 9:07am
Quoting brucehvn
OK, so you place your trades at 21:00 GMT, which is 01:00 in your local time, correct?

Bruce
Yes you are right about the time. I place my orders and not my trades.
Regards,
Bksujal
  • #291
  • Sep 11, 2007 9:09am Sep 11, 2007 9:09am
Quoting c0mputernick
Well that sucks, my entry point (which someone helped me with here) was 157.142 and never got executed, it was still waiting this morning when i got back to my computer. Guess ill try it again this afternoon and see what happens. Should i close out my order or let it ride until 17est where i place new orders?
EDIT: they just got placed at 7:55est, i guess ill see how it plays out anyway on my demo.
You should close out your previous day's orders at 17 Et.
Regards,
Bksujal
  • #292
  • Sep 11, 2007 9:14am Sep 11, 2007 9:14am
Quoting k2kv
Well, I'm not having such great luck here, either.

On my charts, at 1700 EDT (it is, in fact, EDT, so I will continue to use that reference for accuracy), I entered a limit order to go short at 157.14. At 0100 this morning the price climbed up to 157.13, just 1 pip below my limit order, so no trade occurred. Later this morning, at around 0700, the price finally triggered my short but moved up a full 42 pips to knock me out with a SL of -40.

Very frustrating. I'm not sure how our friend, bksujal was able to enter at 2 pips lower in order to have his short trade triggered when it did, when we're all using the same calculations. Even if his broker is quoting prices 5 pips away, the same relationships exist, and the price at 0100 never met the entry order price.

On another day, he entered at 1730 instead of 1700, luckily catching the right price at that time.

Since a number of us seem to be experiencing a similar discrepancy, Bksujal, I must ask: Are you actually placing limit orders, or are you checking your charts after the fact to see how you would have made out, had you actually traded? Some people demo trade this way. It's not dishonest, but it's not an accurate representation.

Am I missing something here?

Can you help us out?

Thanks!
Look at EUR/USD.
Making 25 pips on it is just downright impossible. Even accounting for differences in broker data feeds, it could not have happened using the rules he has given us.

GBP/USD at +35 is equally impossible. He would have been down 32 pips minimum before price even got close to 2.0300.
If he got out with 35 pips that means his PT was 35 pips.
Using his rules that means the SL was 17 or 18 pips. He would have been stopped out.

I'm sure he is being honest about his results. I am also sure that these results could not have happened using the method as he described it.
  • #293
  • Sep 11, 2007 9:53am Sep 11, 2007 9:53am
Quoting bksujal
You should close out your previous day's orders at 17 Et.
Regards,
Bksujal
I was stopped out for a nice loss on my demo.
  • #294
  • Sep 11, 2007 10:01am Sep 11, 2007 10:01am
Quoting billbss
Look at EUR/USD.
Making 25 pips on it is just downright impossible. Even accounting for differences in broker data feeds, it could not have happened using the rules he has given us.

GBP/USD at +35 is equally impossible. He would have been down 32 pips minimum before price even got close to 2.0300.
If he got out with 35 pips that means his PT was 35 pips.
Using his rules that means the SL was 17 or 18 pips. He would have been stopped out.

I'm sure he is being honest about his results. I am also sure that these results could not have happened using the method as he described it.
Im sure when you have a system that works for you, its hard to explain to someone else exactly what you do since you have been doing it for a while, but i still would love to try and figure out what exactly he is doing and how he is getting the figures he is getting. Like many people here including me have asked, could someone please explain (with a chart if possible) how to get the range from the ATR? I guess im not the only one who has never used that indicator before.
Also, what broker do you use Bksujal?
And whoever is actually successful using Bksujal's method, what broker are you guys using as well. Id be up to open a demo account with your broker just to see if its something with my broker or not.

Thanks for the help thus far and happy pipping!
  • #295
  • Sep 11, 2007 10:01am Sep 11, 2007 10:01am
Quoting radyfox
What will happen if we open positions in opposite direction? Will we earn 85 pips daily?
Obviously a good point.... And that would be the other strategy that is sell from the previous days high and buy from the previous days low....
.
  • #296
  • Sep 11, 2007 10:02am Sep 11, 2007 10:02am
Quoting alefito
you have 3 open positions is like 1 real position, of you can open 6 position to say 190 pips that's ridic...
Unfortunately you do not get it.
.
  • #297
  • Sep 11, 2007 10:05am Sep 11, 2007 10:05am
Quoting c0mputernick
Im sure when you have a system that works for you, its hard to explain to someone else exactly what you do since you have been doing it for a while, but i still would love to try and figure out what exactly he is doing and how he is getting the figures he is getting. Like many people here including me have asked, could someone please explain (with a chart if possible) how to get the range from the ATR? I guess im not the only one who has never used that indicator before.
Also, what broker do you use Bksujal?
And whoever is actually successful using Bksujal's method, what broker are you guys using as well. Id be up to open a demo account with your broker just to see if its something with my broker or not.

Thanks for the help thus far and happy pipping!
ATR = Average True Range ... That is a volatility inidcator and usually you can see it at the bottom of the screen.. The graph of it is irrevelant you just need the actual value for that day...
.
  • #298
  • Sep 11, 2007 10:06am Sep 11, 2007 10:06am
Quoting c0mputernick
Im sure when you have a system that works for you, its hard to explain to someone else exactly what you do since you have been doing it for a while, but i still would love to try and figure out what exactly he is doing and how he is getting the figures he is getting. Like many people here including me have asked, could someone please explain (with a chart if possible) how to get the range from the ATR? I guess im not the only one who has never used that indicator before.
Also, what broker do you use Bksujal?
And whoever is actually successful using Bksujal's method, what broker are you guys using as well. Id be up to open a demo account with your broker just to see if its something with my broker or not.

Thanks for the help thus far and happy pipping!
Bksujal indicated he was using ATR(14) on an hourly chart.
This means he is looking at the 14 bar average of the average true range of the hourly candles.

In other words- he's looking at the hourly candle range averaged over 14 bars.

How he uses that, I don't have a clue. He must use it to calculate his PT and SL, but I don't know how.
  • #299
  • Sep 11, 2007 10:08am Sep 11, 2007 10:08am
When people will understand that the strategy HOW YOU ENTER is IRREVELANT. What is important is your money and position management!!!. SLs TPs BEs and so on and how you manage them. EXIT is BY FAR THE MOST IOMPORTANT factor IMHO. This strategy in fact any other strategy can work if you have a sound money management, you are disciplined, patient, and have a consistent paln in place.... And you are able to protect your funds.

Have fun
.
  • #300
  • Sep 11, 2007 10:24am Sep 11, 2007 10:24am
IMHO
i really think Bksujal system is a great one and little should be change to it. i think Money Management should be in to make it work better. hopefully..someone can share some like on the MM part.
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