DislikedI appreciate your gratitude supersenger, it warms my heart.
You're right that in a discretional system backtesting won't do it justice.
If anyone is put down by ilcapocamorr's first and negative post, do the following.
Take 8 or 6 Pairs. Back test or Forward test 2550 on the Daily Chart.
Average the income from all pairs on a per monthly basis.
Heck with 2550 trades on the daily chart we are floating at about:
+200 on NZD/USD
+400 on EUR/USD
+300 on USD/CHF
+330 on AUD/USD
+584 on USD/CAD
Thats about 1814 PIPs floating on Daily 2550 signals whos stop losses haven't been hit and this is in less than 1 trading month.
Consider how easy it is to trade. Your signal is issued on the Daily chart, there is nothing to think about, no TA to do, you just enter and set your SL.
Now just imagine trading not 5 pairs like in the above factual relation, but 8 or 10 or 20 pairs like some of my students do on the daily chart where signals are the strongest. You would be making crazy money every month and would only need about 1 hour a day to manage all the trades.
Even if the signal is False! - you're still in the money all you need to do is manage the position. I don't pretend to say that this is the Holy Grail, BUT, each trade entry gives you the opportunity to catch good price movement, more so on the daily chart. NOW, how you ACTUALLY manage the trade when you are up 50 or 100 or 500 Pips relies entirely on how successful of a conversation you can have with Mr. Greed Houlscrou Yu - the outcome of that is what generally titles your trade as a looser or a winner.
Thank me later.
Regards,
E. LangIgnored
Hi Effi (without "e" at the end!),
Your system continues to impress me. The results that you just posted, using only the dailies are great. Did you get those results using your 25-50 system exclusively?
Now, here I am abusing of your generosity. Would you mind delivering signals for the daily? There are some of us who are 9 - 5 slaves and can only have 1 hour to look at the charts.