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Easy Beat GBP/JPY with This System

  • #21
  • Sep 28, 2007 9:49pm Sep 28, 2007 9:49pm
Billbss said: Looking back on a chart, many times you enter a trade and neither the SL or PT is hit that day. You said you let it run until one is hit. Do you not place orders the next day if you still have an active trade?

@billbss, not like that bro, if orders are not executed, not at all, it will cancelled by validity date. for example you pending order for open sellstop, means not market price, then you entry price PT SL and expiry date and hours. then i set into about 22:00-24:00 (GMT +7:00, have no idea what your time), but it will close about 5 hour before 00:00 Real Trader Broker time, and 8 hours before SDX finished plot line. except, my order had been executed thae i let it touch PT or SL
  • #22
  • Sep 28, 2007 9:53pm Sep 28, 2007 9:53pm
nyxxo said : cool man... similar to one i planned on trading... looks solid. thanks for sharing
@nyxxo,
you're welcome..good luck.
  • #23
  • Sep 28, 2007 10:10pm Sep 28, 2007 10:10pm
Quoting joko2125
Billbss said: Looking back on a chart, many times you enter a trade and neither the SL or PT is hit that day. You said you let it run until one is hit. Do you not place orders the next day if you still have an active trade?

@billbss, not like that bro, if orders are not executed, not at all, it will cancelled by validity date. for example you pending order for open sellstop, means not market price, then you entry price PT SL and expiry date and hours. then i set into about 22:00-24:00 (GMT +7:00, have no idea what your time), but it will close about 5 hour before 00:00 Real Trader Broker time, and 8 hours before SDX finished plot line. except, my order had been executed thae i let it touch PT or SL

We're not connecting.
I understand about the pending orders being canceled if not hit. That's not what I'm asking about.

You have an open TRADE. It is the next day and it has not hit the SL or PT.

Do you set orders for the new day? If you do, you may have two open trades.
  • #24
  • Sep 28, 2007 10:14pm Sep 28, 2007 10:14pm
bill, i think he was saying in an earlier post if one is executed he won't close it until it hits PT or SL.

how far has this system been backtested, and has it been profitable every month? just curious.
  • #25
  • Sep 28, 2007 10:16pm Sep 28, 2007 10:16pm
@billbss,
sorry for misunderstanding. i cancel for that order no matter what, to enter a new day, before entry line plotted. sometimes 1, 2 hours before that line plotted PT or SL hit. if not, i cancel it.
  • #26
  • Sep 28, 2007 10:19pm Sep 28, 2007 10:19pm
nyxxo said: how far has this system been backtested, and has it been profitable every month? just curious.

for backtest i test it for 1 year, so that's why i found number 30. but for forward test, about 6 months. yes, every month it profitable, even little pips
  • #27
  • Sep 28, 2007 10:35pm Sep 28, 2007 10:35pm
joko... also... like you said you arent online all the time to manually cancel the opposite order so that you dont have 2 trades in one day happen... What time do you set your orders to expire 2400GMT + 7 = 0700 GMT? I dont think I correctly understand what time you set your orders to expire because if its 0700GMT then half the time they wont get executed... but if its 1900GMT then you run into problems of both orders getting executed each day? please specify what time (GMT) you set orders to expire.. thanks
  • #28
  • Sep 28, 2007 10:46pm Sep 28, 2007 10:46pm
nyxxo said: joko... also... like you said you arent online all the time to manually cancel the opposite order so that you dont have 2 trades in one day happen... What time do you set your orders to expire 2400GMT + 7 = 0700 GMT? I dont think I correctly understand what time you set your orders to expire because if its 0700GMT then half the time they wont get executed... but if its 1900GMT then you run into problems of both orders getting executed each day? please specify what time (GMT) you set orders to expire.. thanks

@nyxxo,
well, 00:00 in RT Broker is 05:00 my local time, then i set pending order in 03:30 broker time, 09:00 my local time, i set expiry for same date time broker time 17:00, my local time about 22:00. that's meant pending order can still pending for about 14 hour ( am i right?)
  • #29
  • Sep 28, 2007 10:51pm Sep 28, 2007 10:51pm
im guessing by broker time you mean GMT? lol. yes, 13.3 hrs duration on order is correct then. cool.
  • #30
  • Sep 28, 2007 10:55pm Sep 28, 2007 10:55pm
budi_838 said : if yesterday your long position is execute..then you cancel your short position..and today your long position is not stop yet..and today your short position is execute...so now you have 2 open position,is that right?
so you just let the SL and TP close your open positions?

@budi,
similar question with billbss, not like that bro, after one of my pending order executed, than i cancel the other, no matter what it got (+5, -1, +25, -21 or else) then after new day i cancel it before hit PT or SL and before i set order in new day again..
thus, i never got 2 or more orders..
may it help..
  • #31
  • Sep 28, 2007 10:56pm Sep 28, 2007 10:56pm
Hi everyone, How am I to set my orders in this system. Is this a breakout system where I set two orders one at both sdx lines and set SL at ADX and TP at other ADX? Or am I missing this all together?

Thanks for your input.
Push yourself to your fullest potential!!
  • #32
  • Sep 28, 2007 11:18pm Sep 28, 2007 11:18pm
viking1975 said :
Hi everyone, How am I to set my orders in this system. Is this a breakout system where I set two orders one at both sdx lines and set SL at ADX and TP at other ADX? Or am I missing this all together?


@viking1975, yes, you set 2 pending orders, TP is 101 and SL is 100. hans123 or sdx zzz can picture that. better if you use Trailling stop..
  • #33
  • Sep 28, 2007 11:25pm Sep 28, 2007 11:25pm
i have question again...
you said that after one pending order execute, you cancel the other...so you must look at your monitor from 09.00WIB until 22.00WIB to cancel the other if one of your pending order execute?

and what time do you stop the order that executed yesterday before you open your new pending order?
  • #34
  • Sep 28, 2007 11:44pm Sep 28, 2007 11:44pm
budi_838 said : have question again...
you said that after one pending order execute, you cancel the other...so you must look at your monitor from 09.00WIB until 22.00WIB to cancel the other if one of your pending order execute?

and what time do you stop the order that executed yesterday before you open your new pending order?


@budi, of course i do not have to look at monitor all the time. i have no idea about 2 pending opposite orders executed in 1-2 hour time.
for the pending that cancelled in 22:00 is when you open pending order, simply put date expiry and hour expiry. that will do.

well, i always set pending order 09:00 WIB or more about 10 minutes, and that time before i set pending order i close the floating one.
so i close it about 08:30-09:00, choose the right place to close.
  • #35
  • Sep 28, 2007 11:55pm Sep 28, 2007 11:55pm
Great post...thanks for sharing with us
  • #36
  • Sep 29, 2007 12:02am Sep 29, 2007 12:02am
WHTenn said :Great post...thanks for sharing with us

you're very welcome...thank's for post too..
  • #37
  • Sep 29, 2007 7:22am Sep 29, 2007 7:22am
I just manually backtested June and July and didn't do so well.
June = +71 pips
July = - 235 pips

I won't go any farther. Assuming I did it correctly, I wouldn't trade a system that lost over 200 pips in a month.
  • #38
  • Sep 29, 2007 7:57am Sep 29, 2007 7:57am
Quoting billbss
I just manually backtested June and July and didn't do so well.
June = +71 pips
July = - 235 pips

I won't go any farther. Assuming I did it correctly, I wouldn't trade a system that lost over 200 pips in a month.
Perhaps Joko could post his own results for June and July as he has been trading live during the said months to have a comparison
Regards
  • #39
  • Sep 29, 2007 7:58am Sep 29, 2007 7:58am
Quoting howard
Perhaps Joko could post his own results for June and July as he has been trading live during the said months
That will be good.
I may have done it wrong.
  • #40
  • Sep 29, 2007 8:01am Sep 29, 2007 8:01am
Hi Bill

Did you make your entries at 2:00 GMT for the back test according to what joko says?
Regards
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