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Simple Daily System

  • #641
  • Sep 16, 2007 3:10pm Sep 16, 2007 3:10pm
Cable is showing an interesting formation. Anyone thinking about taking it?
  • #642
  • Sep 17, 2007 4:42pm Sep 17, 2007 4:42pm
so i just found the thread a few days ago and i am very attracted to the simplicity of this system. mmm simple, just my style. anyways i just started demoing it and i'll post my success/failure here. oh, im also tweaking the MAs for the heck of it and i'll post results here of my backtesting and other findings. thanks!
  • #643
  • Sep 21, 2007 8:18am Sep 21, 2007 8:18am
Hello!
This is my first post, but i've been watching this tread from the begining. And I can't understand why it is so quiet now! Noone is writing anything about it (even people who started) and I think this strategy is really good! I've been using it on my life account for 2 months now. The results are really good!
I would like to say thank you for that to TheThing! It really helped a lot!
  • #644
  • Sep 22, 2007 1:00pm Sep 22, 2007 1:00pm
Quoting kraszan
Hello!
This is my first post, but i've been watching this tread from the begining. And I can't understand why it is so quiet now! Noone is writing anything about it (even people who started) and I think this strategy is really good! I've been using it on my life account for 2 months now. The results are really good!
I would like to say thank you for that to TheThing! It really helped a lot!
I´m wondering that too! Has everyone gone on top another thread somewhere?
  • #645
  • Sep 23, 2007 8:05am Sep 23, 2007 8:05am
In this months issue of Stocks and Commodities the have an article on ForexFactory and mention this site as the one the author read all the post.

<><

Chris
  • #646
  • Sep 23, 2007 4:02pm Sep 23, 2007 4:02pm
So, it's Sunday evening where I am and the market just opened. It appears to me the only qualifying pairs might be AUD/USD and NZD/USD. If not, why not? Are there others?
  • #647
  • Sep 23, 2007 10:02pm Sep 23, 2007 10:02pm
Bonita,
I don't really understand your question. Pls make ur question clearer.
jack
  • #648
  • Sep 24, 2007 4:41pm Sep 24, 2007 4:41pm
I'm still watching.

Cable fits the spec but the last candle yesterday may suggest a reversal. I probably won't take a position because of it, although I will keep an eye on shorter time frames.
  • #649
  • Sep 25, 2007 7:37am Sep 25, 2007 7:37am
I play demo and live with this method for one month now and today was my first bad trade GBP/USD.
  • #650
  • Sep 25, 2007 9:51pm Sep 25, 2007 9:51pm
That's unlucky but it was never an A trade with that Pin Bar. Simple as the system may be, a little discretion to filter out the iffy trades will increase the percentage of trades that are winners.

Tonight I see that Aud/Cad meets some of the criteria. My only reservation is that the last bear bar was just a correction rather than the end of a streak of bear bars, so it wasn't really a 'bottom'. Still a good trade though I reckon, so I'm looking for a good entry on lower time frames.
  • #651
  • Sep 26, 2007 7:40am Sep 26, 2007 7:40am
i have been collecting pips on this pair (USD/CHF) on a daily basis :-

20/9/07 - 150 pips
21/9/07 - 50 pips
24/9/07 - 75 pips
25/9/07 - 35 pips
26/9/07 - 60 pips

Using even more simpler method, no indicators, nothing at all...but do not want to upset this thread, will try to post a new thread on my system once i let this running for another week. This thread & system has been great but the only set back is got to wait till the setup which many of us don't like waiting...especially me...
  • #652
  • Sep 26, 2007 11:46am Sep 26, 2007 11:46am
Quoting kraszan
I play demo and live with this method for one month now and today was my first bad trade GBP/USD.
Great to see some more activity on this thread again.

I´ve also been demo-ing for a while but I´ve been working away from home recently and I haven´t been able to monitor anything in the last month. I´d be really interested to see a summary of your various trades, kraszan, if you were prepared to post or pm me? Thanks
  • #653
  • Sep 26, 2007 11:50am Sep 26, 2007 11:50am
Quoting fx4live
i have been collecting pips on this pair (USD/CHF) on a daily basis :-

20/9/07 - 150 pips
21/9/07 - 50 pips
24/9/07 - 75 pips
25/9/07 - 35 pips
26/9/07 - 60 pips

Using even more simpler method, no indicators, nothing at all...but do not want to upset this thread, will try to post a new thread on my system once i let this running for another week. This thread & system has been great but the only set back is got to wait till the setup which many of us don't like waiting...especially me...
Sounds interesting, fx4live. But how much more simple can it get! I look forward to hear more here or elsewhere. Please keep us posted. Chris
  • #654
  • Sep 26, 2007 1:46pm Sep 26, 2007 1:46pm
First of all I was taking signals following the rules but was closing them by myself or manually. Some of the signals (I don't know exactly which ones) were taken following the rules but against the trend (less risk).
This is my live result:

20.08
short USD/CAD (-180) pips signal was good but i've made a mistake with SL
short USD/CHF +30 pips

26.08
short USD/CAD +5 pips

02/09
short USD/CAD +40 pips

09.09
short USD/CHF +30 pips
buy GBP/USD +42 pips
buy EUR/USD +37 pips

12.09
short USD/CAD +45 pips

16.09
short GBP/CHF +65 pips
short GBP/USD +73 pips

20.09
buy NZD/USD +90 pips
buy AUD/USD +85 pips

24.09
buy GBP/USD (-180) pips

25.09
short EUR/AUD +30 pips
buy AUD/USD still running
  • #655
  • Sep 28, 2007 6:12am Sep 28, 2007 6:12am
Thanks very much for posting your recent live results, kraszan. Very informative.

I presume you mean the 20 EMA/50 EMA relationship when you say "against the trend"? But I don't understand how these are "less risk". Surely, going against the trend according to the system means they are, at least in theory, more risky?!

Exits are always the trickiest aspect of trading, for me anyway. I have been trying to work out whether a PO, or multiple POs, based on a proportion/s of a currency pair's ATR makes sense. (Hope to publish this here in due course when I have a larger body of data.)

You said you closed your trades manually - did you have any specific criterion?
  • #656
  • Oct 2, 2007 12:05am Oct 2, 2007 12:05am
Quoting fx4live
i have been collecting pips on this pair (USD/CHF) on a daily basis :-

20/9/07 - 150 pips
21/9/07 - 50 pips
24/9/07 - 75 pips
25/9/07 - 35 pips
26/9/07 - 60 pips

Using even more simpler method, no indicators, nothing at all...but do not want to upset this thread, will try to post a new thread on my system once i let this running for another week. This thread & system has been great but the only set back is got to wait till the setup which many of us don't like waiting...especially me...
Still collecting pips day by day http://www.forexfactory.com/images/icons/icon10.gif
27/9/07 - 80 pips
28/9/07 - 5 pips
1/10/07 - 140 pips
  • #657
  • Oct 2, 2007 8:41am Oct 2, 2007 8:41am
Hi, this is my first post, though have been observing for almost a year, now. GREAT site.
Thanks to ALL contributors & comments.

Congrats & thanks to Thing for well thought out method & system.

Funny about Haywire's adjustment in system rules....

I've been looking into the 3 contracts vs 2, myself.
With TP at 30 & 50, vs Haywire's 30/60.
Haven't tested yet (papertrade).

However, I have used IndyCash's tester & paper trade together to try a 30 Trailing Stop for TP # 2 rather than BE.

Results for GBP/USD from 10/02/06 - 7/30/07 (IndyCash's tester) are net 1160 pips vs 530 for BE on # 2 stop. Weather it works of well in real life, I don't know.

Further, on the other idea....

A TP#2 at 50 vs 100 yeilded 680 pips, rather than 530.

I wonder if to combine these ideas: the TP#2 at 60, 30 Trailing stop, and 3 contracts vs 2, with 3rd TP at 100.....

I don't have the software nor the smarts to use it. I wonder if anyone could try it, if seems at all reasonable.

Good luck to all

PeterO
West Bath, Maine USA
  • #658
  • Oct 2, 2007 10:16am Oct 2, 2007 10:16am
Quoting fx4live
Still collecting pips day by day http://www.forexfactory.com/images/icons/icon10.gif
27/9/07 - 80 pips
28/9/07 - 5 pips
1/10/07 - 140 pips
definitley would like to see your own thread on this simpler style

Chris
  • #659
  • Oct 3, 2007 8:15am Oct 3, 2007 8:15am
Quoting fx4live
Still collecting pips day by day http://www.forexfactory.com/images/icons/icon10.gif
27/9/07 - 80 pips
28/9/07 - 5 pips
1/10/07 - 140 pips
I have second thought..probably will let this run for a month & see how this fair...and also to test the sustainable of this system...will try post the result till month-end :-
2/10/07 - 155 pips
3/10/07 - 40 pips still running.
  • #660
  • Oct 4, 2007 8:34pm Oct 4, 2007 8:34pm
Quoting fx4live
I have second thought..probably will let this run for a month & see how this fair...and also to test the sustainable of this system...will try post the result till month-end :-
2/10/07 - 155 pips
3/10/07 - 40 pips still running.
3/10/07 - 130 pips
4/10/07 - 70 pips (running)http://www.forexfactory.com/images/icons/icon14.gif
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