Trade Balance Point

Has anyone know and tried Trade Balance Point system by Welles Wilder Jr.? I read his book New Concepts in Technical Trading System. The book is not new, it was written in 1978 and talks about different indicators he created before the personal computer era. Its a good book for anyone who wants to know how to use DMI, ADX, RSI, ATR.
Anyway, the Trade Balance Ponit system is a momentum system that uses the previous day's OHLC and projects the next day's position with target and stop loss. Of course the book is centered on commodities and futures but I tried it on the currency and it looks promissing for the GBP/USD pair. Back test shows 100 to 400 pips per month with few minutes a day trading...good for me who have a job and life.
So, I need what you think.
Rick

Hey Rick,

I don't know if you're still around (your initial post (above) was posted some time ago) BUT did you continue with the system (it's called the 'Trend Balance Point System' by the way)?

Just wondering if your backtest results were 'proved' live.

I've had good results from the system (on the occasions when I've been able to discipline myself to follow it that is) but I'm 'battling' with something 'in my mind' here with the system and it's whether or not to exclude the 'Sunday' candle or bar i.e. if you are indeed still using the system don't you find that, or are you not of the opinion, that the 'Sunday' candle or bar is not 'relevant' to the calculation of the Momentum Factor i.e. it leads to false signals on a Monday from what I can see (and I'm also of the opinion that it may be 'slightly messing up' the ATR calculation as well).

(It's not a problem if you're trading the Main Indices of course but it IS / COULD BE a problem if you're trading futures like the Dow, Nasdaq 100, and S&P 500 or forex pairs - I THINK)!!!

Regards,

Dale.