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  • #681
  • Dec 28, 2006 3:25pm Dec 28, 2006 3:25pm
Well, I am not Micardo but since Nov 15 I have been running a similar method to his and just wanted to share the results so far. I mostly use a 50 pip trigger from the daily open price (FXDD 5pm EST).

But not quite. For buy stops I use 55 pips. Stops are the trigger point. I go for 30 pips on the first lot and 60 on the second. I use a 30 pip trailing stop now on the second trade.

December has been about break even but November was good. I must admit I haven't traded everyday during the holidays. But for what it's worth, maybe this is close to real-world results.
Attached File(s)
File Type: zip micardo_dec28.zip   6 KB | 548 downloads
Don Life is expensive, but includes a free trip around the sun.
  • #682
  • Dec 28, 2006 10:30pm Dec 28, 2006 10:30pm
So then you entered 2 standard 100,000 lots on each trigger? Have you looked at the days you missed to see if you would have profited or lost? It looks like you missed many days.

I still don't know how accurate these results are though. This month span was obvisously great for trending systems. I'd be careful about continuing at that size unless your account can handle it. How'd it feel to lose $2100 just like that on the 7th and 11th? I'm not sure why you lost on those days though, GFT is showing nicely trending days. Perhaps our times are set up differently.

Something to look at is that you never lost on a trade without losing on both. When you add up the wins on the 2nd lot that you let ride, it averages out to 28.6 pips, even with the big 60 and 80 pip profits. Looking at your rules again, how did you get the 80 pips on the 22nd of November? So you would have been better just exiting both lots at the 30 pip point. The average profit on the 2nd lot was 28.6 pips and that's with the 80 pip day. If you make that a 60 pip day then the average on the 2nd lot is 27.3 pips. If you had just exited at 30 pips on the 2nd lot that would be 2.6 pips per trade more. 2.6 X 15 winning trades = 40 pips = $400 more in your pocket. That's an easy 9 percent increase in profits right there.

This is why I tried to analyze the data from excel the way I did weeks ago. You probably would have blown the results you got out of the water if you had simply exited all trades after a 35 pip move on both lots. I still say there is an efficient point for each trading day rather than exiting at multiple points.

Looking at your figures again I am confused some more. You have a 30 pip trailing stop on the second lot. How did you exit some of them at 38 pips profit, or $380 profit? That would have to mean price would have moved to +68 pips and then drop the 30 back to only 38 pips profit. The same goes for many of the 330 pip days. I'll have to assume that since you took an 800 pip profit that you didnt follow your rules discreetly.

Again, thats why I explored this strategy through excel. I believe there is one efficient point. Unfortunately it means we allow more losers and right now with a 30 TP and 50/55SL it means we lose more than what we win. When you lose you lose big. The 7th and 11th total losses are almost half of your total profits. Imagine if you had caught another two days like that. I've been debating setting a TP/SL for myself in my trendline trading system of TP 75 SL 50 just to allow for the noise and also win more than when I lose.

But hey, you can't complain about $4480 bucks in your pocket off of little work right? That's a nice living if the system is that consistent.
  • #683
  • Dec 29, 2006 12:37am Dec 29, 2006 12:37am
Like I said.

This is real world results. Including my personal mistakes on addition for stop loss, and at least twice hitting the wrong button on trailing stop (or it just didn't work!) At least two of the holidays that I didn't trade were winning days. The day I had 38 pips on one trade, I got up in the morning and looked at the trade, got nervous and said "that's enough" and closed out manually!

Rather than take two lots on smaller pips like 35, I am running a comparison test of only one lot but setting the TP at 100. Then set a trail of say, around 25 pips. I'm beginning to think that fewer, bigger winners might be the way to go. Like the android in "Alien" said, "still collating".
Don Life is expensive, but includes a free trip around the sun.
  • #684
  • Dec 29, 2006 7:11am Dec 29, 2006 7:11am
Hello is there an EA for this strategy already? how is it doing so far?

Anyways im a programmer and i would like to give this strategy a try and convert it to EA, if there is still none yet. Anyways im getting lost in the thread with so many variations to the method. Can someone point me to the direction of the method most suitable for EA, one that is most mechanical with good risk reward ratio.

Thanks and Kind Regards,
Mikhail
  • #685
  • Dec 29, 2006 8:47am Dec 29, 2006 8:47am
Just read the first 5 or 6 pages of the thread. The best stuff is probably in there. Look for posts by Kamando and Micardo for the basic stuff.

Are you using the EA for backtesting? I can't think of any other reason. It only takes me 5 minutes a day to set up three different accounts for the trades (various methods).
Don Life is expensive, but includes a free trip around the sun.
  • #686
  • Dec 29, 2006 9:34am Dec 29, 2006 9:34am
Thanks, yes for backtest and for trading. I only use EAs for my trading activites I jsut leave it to do its thing. because when I trade manually im prone to divert from the strategy, with EAs I get to implement the strategy without me messing it up.(Im prone to adjust TP because I get often greedy )

Anyways thanks for pointing me to the right direction,

Mikhail

Quoting traderone
Just read the first 5 or 6 pages of the thread. The best stuff is probably in there. Look for posts by Kamando and Micardo for the basic stuff.

Are you using the EA for backtesting? I can't think of any other reason. It only takes me 5 minutes a day to set up three different accounts for the trades (various methods).
  • #687
  • Dec 30, 2006 6:15am Dec 30, 2006 6:15am
Quoting mikhaildgreat
Thanks, yes for backtest and for trading. I only use EAs for my trading activites I jsut leave it to do its thing. because when I trade manually im prone to divert from the strategy, with EAs I get to implement the strategy without me messing it up.(Im prone to adjust TP because I get often greedy )

Anyways thanks for pointing me to the right direction,

Mikhail
I would just like to encourage you to code an EA because of higher level of trustiness in timing and discipline as well as the better opportunity of tweakening the strategy.

Anyway, there are a few EAs that use daily breakout strategy though I have not find that that would be able to place more than one orders to both short and long direction. (I mean it is a mini grid straddle where the SELL_STOP and BUY_STOP orders are in a kind of balance. I traded this kind of setup for a period of time earlier and it was successful.) Should you are interested I can provide some more details.
  • #688
  • Dec 30, 2006 11:55am Dec 30, 2006 11:55am
Ok, I have entered numbers in my program until I just can't do it anymore. LOL

Weekly Strategy - It appears if you take the Sunday open price and put a straddle of 115 pips from the open in both directions with a 60 pip s/l going for 70 pips - you would've been positive in 2003, 2004, 2005 and 2006. If you exclude 2003, you could've gone for 85 pips. 2006 was a fantastic year and you could've gone way higher (150 or higher), but I personally feel more comfortable going for 70 or 85 (for some reason I like using 2003 data). If a trade was entered and never made the target, it was closed at 19:45 GMT on Friday (mostly because the data I have closed at this time some points during the year, so I just used it). Most trades either passed or failed before this time anyway.

Oh, and I only went one direction. If a trade was hit for long, the sell was cancelled. I have to modify my program to allow for both. I just have to take the time to do it. Also, what most people would NOT like (but I do) is that the only real way to make it work is to double up. After 1 failed double up next trade. The maximum (up to now) failures in a row has been 4.

I'll be happy to post the actual results if anyone wants to know them.
  • #689
  • Dec 30, 2006 12:41pm Dec 30, 2006 12:41pm
I'll bite. What were the results?
  • #690
  • Dec 30, 2006 2:23pm Dec 30, 2006 2:23pm
Quoting permanentjaun
I'll bite. What were the results?
going for 70 to prevent more than 4 in a row failures (2003 caused more than 4)

2003 = 1661
2004 = 1942
2005 = 2325
2006 = 1981

going for 85 and exclude 2003.

2004 = 2587
2005 = 3395
2006 = 3356

You might think you could increase pip target each year since 2003 could only get 70, but going for more than 85 in 2005 caused 5 in a row failure. I try to prevent this because of doubling up. Using mini-lots you buy 1 lot, then 2, then 4, then 8 but because 4 can fail in a row the next one has to be 16 lots, which in my testing always won. I would not be comfortable buying 32 lots or 64 lots so that is why I limited it to 4 losses. Of course allowing 5 in a row resulted in huge profits though.

Another idea would be using the 115 wait, 70, 60s/l just as a guide and wait for 4 in a row to fail (or 1,2, or 3) before starting, and knowing the next trade will most likely win and buying 10 lots or whatever. I included this as an option in my program and here are the total results

2003 - 2006 going for 70 and waiting til 4 fail in a row = 350 pips. Multiply by 10 lots = 3500 (only happened 5 times)

2004 - 2006 going for 85 and waiting til 4 fail in a row = 340 pips X 10 lots = 3400 (only happened 4 times and if you kept it at 70 it only happened twice which netted 140)

I should also say these are net pips. I deducted my 5 pip spread on the pound already.
  • #691
  • Dec 30, 2006 2:50pm Dec 30, 2006 2:50pm
I would suggest not bothering with martingale in this strategy, or almost any strategy. It works, yes, but look what you've done. You can only trade 1 minilot to be able to martingale on the trades following it. I think the profits would add up greater if you just risked 1 standard lot on each trade and took the larger wins/losses, but didn't try to cover the losses. Get what I'm saying? If your account can handle trading a standard lot then do that rather then only play for 1 minilot wins. Its just not worth it.

Here is the minimum martingale risk for consecutive losses and allow yourself to only breakeven at the end. 1 -1 -2 - 4 - 8. So on the 5th trade you've already lost 8% of your account and risking 8% on the last trade. The losses could be 16% of your account and then it only gets uglier from there. To avoid huge losses you use the minilots and your account grows slowly. A lot of risk for such slow growth. Lame.

Anyways, are those pip totals including martingaling or not? Something to consider also. You mentioned your idea of waiting for the 4 losses in a row. What about waiting for 4 wins in a row and then taking the trade opposite what is signaled? How many times did it win 4 times in a row. You could essentially double your pip totals right there. Matt
  • #692
  • Dec 30, 2006 6:04pm Dec 30, 2006 6:04pm
Quoting permanentjaun
I would suggest not bothering with martingale in this strategy, or almost any strategy. It works, yes, but look what you've done. You can only trade 1 minilot to be able to martingale on the trades following it. I think the profits would add up greater if you just risked 1 standard lot on each trade and took the larger wins/losses, but didn't try to cover the losses. Get what I'm saying? If your account can handle trading a standard lot then do that rather then only play for 1 minilot wins. Its just not worth it.

Here is the minimum martingale risk for consecutive losses and allow yourself to only breakeven at the end. 1 -1 -2 - 4 - 8. So on the 5th trade you've already lost 8% of your account and risking 8% on the last trade. The losses could be 16% of your account and then it only gets uglier from there. To avoid huge losses you use the minilots and your account grows slowly. A lot of risk for such slow growth. Lame.

Anyways, are those pip totals including martingaling or not? Something to consider also. You mentioned your idea of waiting for the 4 losses in a row. What about waiting for 4 wins in a row and then taking the trade opposite what is signaled? How many times did it win 4 times in a row. You could essentially double your pip totals right there. Matt
I don't agree with you on the double-up for mini or super-mini accounts. I am not psychologically ready to trade standard lots, nor do I have the money in my account for that. We can agree to disagree I suppose. There were 7 wins in a row, so going opposite after 4 wins didn't work most of the time.

As far as not doubling up, here are the best results and numbers to use:

130 wait, 200 s/l and shoot for 400 pips.

2004 = 6 hit tp, 13 hit s/l, 21 closed up, 10 closed down = 1796 total. Account total never went in negative mostly because first 2 weeks were one of the 6 winners.

2005 = 3 hit tp, 7 hit s/l, 21 closed up, 13 closed down = 1153 total. Lowest account got was -232

2006 = 0 hit tp, 6 hit s/l, 25 closed up, 18 closed down = 1459 total. Lowest account got was -515

Grand total was 4408

If you'd rather have more hits, then 130 wait, 200 s/l shoot for 250 pips

2004 = 14 hit tp, 13 hit s/l, 13 closed up, 10 closed down = 1408. Account stayed positive.

2005 = 8 hit tp, 7 hit s/l, 16 closed up, 13 closed down = 1008. Lowest account got was -382.

2006 = 9 hit tp, 6 hit s/l, 16 closed up, 18 closed down = 1381. Lowest account got was -611.

Grand total was 3797.

As you can see, not once in 2006 did a week hit the 400 pip target, which is wierd, but if it got to 250 pip target when going for 400, it always closed up anyway, plus you got more pips, so that is why I think going for 400 was the best.
  • #693
  • Jan 2, 2007 2:50pm Jan 2, 2007 2:50pm
Quoting QMG
Yes...been trading it live for two weeks on a mini account. Figure if I'm going to take the time, albeit very little, to set the trades in the evening I might as well profit. I did go back and visually paper test the EUR/USD from April to present and it has averaged +235 per month. When I get the time I'm going to do the GBP/USD at which time I see if a SL of 60 of 65 would make a major difference.

I also think there is more "profit" to be made if you micromanage the trade throughout the day. I set the trades at 7:00 pm EST (0:00 GMT) and don't do anything during the night but from 6:00 a.m. to the afternoon I'm able to watch the price action. Yesterday I left over 50 pips on the table by not moving the Trailing Stop to a greater number and got stopped out to the pip--ugghhh--because I wasn't in my office but typically I would have moved that stop because the overall trend at the time was down.

What I like about this approach is that if you don't touch the trades they are profitable but they can be even more profitable if can tweak them throughout the day.
Just curious, did you trade this much over the holidays? Wondering how it turned out as things tend to be somewhat choppy during the holidays, possibly improving results?

Am going to start demo'ing this now that the holidays are over.

David
  • #694
  • Jan 2, 2007 3:51pm Jan 2, 2007 3:51pm
David...

I did trade it over the last week or so albeit very sporadically because of the slowness of the market. I don't have my exact numbers in front of me but I believe I made around 50 pips or so last week. I have found that when one market isn't open or there isn't "quality" news events there is less of a chance of a movement back and forth. I do know one of the days I traded last week I had a SL activated (i.e. losing 50 pips) but also make over 50 on the opposite direction. It seemed the market picked a direction during the last few days and stayed moving in that direction.

I will probably go in tonight...

Q
  • #695
  • Jan 2, 2007 4:12pm Jan 2, 2007 4:12pm
Hi Guys I dont kno where you guys have got upto with this thread.... or how the system has been developed but I thought I would make things a little easier for the newcomers to the thread....

I have attached a document which gives a complete run down of the origional 2 systems which got this thread started...

I will post all of the results on both systems for november and december which are missing from this document unless someone has been trading either of them and wishes to share the reults.

Also would someone be kind enough to update me on what the strategies have evolved into or which are the main strategies in development at the moment... this way I can add my 2 pips
Attached File(s)
File Type: doc Strategy's 1 and 2.doc   34 KB | 957 downloads
  • #696
  • Jan 2, 2007 5:19pm Jan 2, 2007 5:19pm
Thanks Micardo,
I am looking forward to the latest results. I am also intersted in what Kamanda was doing and wonder if anyone has been using that method and can share results?
  • #697
  • Jan 3, 2007 12:55am Jan 3, 2007 12:55am
Quoting traderone
Matt. lots of great thinking here. thanks for sharing all your findings.

I have found a potential land mine here I think.

When I went back over the last year, using weekly candles, 100 pip trigger and stop loss, and a 120 TP, I was excited to rack up 2400 + pips.

BUT..... When I went back over the same weeks using daily candles, I found that many times my SL of 100 was hit before the TP was reached. This fact did not show up (was hidden) just using the weekly candles.

So now I am back to the drawing board, doing my last year analysis only with daily candles but from a weekly point of view. I think we still have something here, just needs refinement.
I know traderone is in here once in a while. Did you ever come up with the results of this post from weeks ago? How many of the 2400 pips did you give back?


Quick thoughts everyone. I'm wondering if strategies such as this are worth while only if you apply them to several currencies. My weekly data showed to average around 125-145 pips on gbp/usd a month. If you can get 100 pips a month from several pairs it'll add up. Any suggestions for other pairs that might work well with this? Matt
  • #698
  • Jan 3, 2007 2:31am Jan 3, 2007 2:31am
Firstly I’d like to say thankyou to Micardo and MarkJ for their inspiration and contribution. The trading plans below were originally based upon MarkJ’s plan, so respect to him.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

<o></o>

My thoughts on the DRS (daily range strategy) is that the objective of the strategy is to find a point in price and time where GBP takes sustainable direction to trigger the TP’s with an acceptable level of volatility and drawdown. <o></o>

<o></o>

The Big Ben paper indicates GBP trades lightly in the Asian session, which is able to be seen on the chart. The GBP has two major trading sessions being the UK and US sessions. There is a tendency for price to consolidate prior to the open of both sessions and to take direction shortly after the open. I’ve noticed that the trend established from UK open doesn’t necessarily persist through the US open. For instance a news release at US open can revert a trend. I’ve also noticed direction seems to weaken after the UK close. So the two periods in time I’m interested in trading is from UK open to US open and US open to UK close. I’ve taken the view of trading these sessions discretely, that is, to close any open positions at US open rather than risk price hitting the TSL upon news or trend reversion.<o></o>

<o></o>

I’ve back tested several derivations of the plans below over a randomly selected three week period which included both trending and non-trending price action. I tested 3 different SL systems:1) stop set at 20 pips and not moved – lost pips, 2) 20 pip TSL which engages when price moves 20 pips – lost pips 3) 20 pip TSL which starts to trail immediately upon entry – made pips.

<o></o>

My current broker doesn’t offer TSL’s, but that is not a problem. Can anyone recommend a broker that offers a TSL that trails immediately, MT4, preferably 3 pip spread and they reckon they are ok? <o></o>

<o></o>

I tested two strangles 20 pip and 25 pip. There wasn’t much difference between them however the 25 pip was a little better. It would be worth testing both over a larger sample size to see if it changes the result. To address JillyB’s comment about the significance of round numbers, I think it has an effect on instruments traded on centralised exchanges, I’m not sure that that holds true with instruments traded OTC. I think different data feeds and spreads would confound this issue. Heh, it has been hard enough to even establish when London opens due to time zones and DST. When I was back testing I didn’t notice a higher frequency of entry and revert due to the round numbers.<o></o>

<o></o>

My view on multiple TP’s is that each plan (as in Entry, TP & SL) should hold it’s own weight individually and can be combined to smooth the equity curve and profit multiple times from one event. Originally I tested the 4 TP’s with the expectation of dropping the weakest, however they are all profitable so I didn’t see a good reason to drop any of them. In order of most profitable to least 80, 50, 30, 14. I think it was more difficult for the higher win/loss ratio to compensate for the lower profit/loss ratio caused by the 20 SL. I haven’t tested it, however I think moving the 14 to a 20 TP may increase the profitability by balancing the profit/loss ratio.<o></o>

<o></o>

Enough yabba, here are the plans.<o></o>

<o></o>

Trav UK 25 DRS v1

<o></o>

Place a 4 entry strangle at UK open, 25 pips away from UK open price.<o></o>

<o></o>

TP: Target Profit levels are 14, 30, 50, 80 pips away from entry.<o></o>

<o></o>

TSL: A 20 pip trailing stop loss which is initiated at entry is applied to all positions.<o></o>

<o></o>

TS: A timed stop is also applied so all positions are closed at US open.<o></o>

<o></o>

Close the position when TP, TSL or TS is triggered. <o></o>

<o></o>

This is not an OCO order.<o></o>

<o></o>

There is no re-entry.<o></o>

<o></o>

Trav US 25 DRS v1

<o></o>

Place a 4 entry strangle at US open, 25 pips away from US open price.<o></o>

<o></o>

TP: Target Profit levels are 14, 30, 50, 80 pips away from entry.<o></o>

<o></o>

TSL: A 20 pip trailing stop loss which is initiated at entry is applied to all positions.<o></o>

<o></o>

TS: A timed stop is also applied so all positions are closed at UK close.<o></o>

<o></o>

Close the position when TP, TSL or TS is triggered. <o></o>

<o></o>

This is not an OCO order.<o></o>

<o></o>

There is no re-entry.<o></o>

<o></o>

<o></o>

So how did they do over the 3 week sample?<o></o>

<o></o>

UK 20: 247 pips<o></o>

UK 25: 287 pips<o></o>

US 20: -142 pips<o></o>

US 25: -109 pips<o></o>

<o></o>

These figures are net (3 pip spread).<o></o>

<o></o>

Every trading plan is a balance. I’m happy with the result of the UK 25. I think the US plan still has merit, just need to find the right combination for instance maybe a 30 or 35 strangle with perhaps a lesser TP. More work needed.<o></o>

<o></o>

I really think this strategy needs to be tested over a longer time period before going live to negate any biases caused by a small sample size. Since manually back testing is arduous work and this is a simple mechanical system, Mikhail, if you have the ability and interest in converting this into an EA it would really be appreciated. BTW Athalon7 posted an EA post No. 553. Not sure if it is easier to modify and exisitng one or start anew.
  • #699
  • Jan 3, 2007 7:59am Jan 3, 2007 7:59am
I have EA for you will post it here later. Question though what time in GMT is US Open and US close. I know its a silly question but im really bad at time conversion.

Kind Regards,
Mikhail

Quoting Trav
Firstly I’d like to say thankyou to Micardo and MarkJ for their inspiration and contribution. The trading plans below were originally based upon MarkJ’s plan, so respect to him.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

<o></o>

My thoughts on the DRS (daily range strategy) is that the objective of the strategy is to find a point in price and time where GBP takes sustainable direction to trigger the TP’s with an acceptable level of volatility and drawdown. <o></o>

<o></o>

The Big Ben paper indicates GBP trades lightly in the Asian session, which is able to be seen on the chart. The GBP has two major trading sessions being the UK and US sessions. There is a tendency for price to consolidate prior to the open of both sessions and to take direction shortly after the open. I’ve noticed that the trend established from UK open doesn’t necessarily persist through the US open. For instance a news release at US open can revert a trend. I’ve also noticed direction seems to weaken after the UK close. So the two periods in time I’m interested in trading is from UK open to US open and US open to UK close. I’ve taken the view of trading these sessions discretely, that is, to close any open positions at US open rather than risk price hitting the TSL upon news or trend reversion.<o></o>

<o></o>

I’ve back tested several derivations of the plans below over a randomly selected three week period which included both trending and non-trending price action. I tested 3 different SL systems:1) stop set at 20 pips and not moved – lost pips, 2) 20 pip TSL which engages when price moves 20 pips – lost pips 3) 20 pip TSL which starts to trail immediately upon entry – made pips.

<o></o>

My current broker doesn’t offer TSL’s, but that is not a problem. Can anyone recommend a broker that offers a TSL that trails immediately, MT4, preferably 3 pip spread and they reckon they are ok? <o></o>

<o></o>

I tested two strangles 20 pip and 25 pip. There wasn’t much difference between them however the 25 pip was a little better. It would be worth testing both over a larger sample size to see if it changes the result. To address JillyB’s comment about the significance of round numbers, I think it has an effect on instruments traded on centralised exchanges, I’m not sure that that holds true with instruments traded OTC. I think different data feeds and spreads would confound this issue. Heh, it has been hard enough to even establish when London opens due to time zones and DST. When I was back testing I didn’t notice a higher frequency of entry and revert due to the round numbers.<o></o>

<o></o>

My view on multiple TP’s is that each plan (as in Entry, TP & SL) should hold it’s own weight individually and can be combined to smooth the equity curve and profit multiple times from one event. Originally I tested the 4 TP’s with the expectation of dropping the weakest, however they are all profitable so I didn’t see a good reason to drop any of them. In order of most profitable to least 80, 50, 30, 14. I think it was more difficult for the higher win/loss ratio to compensate for the lower profit/loss ratio caused by the 20 SL. I haven’t tested it, however I think moving the 14 to a 20 TP may increase the profitability by balancing the profit/loss ratio.<o></o>

<o></o>

Enough yabba, here are the plans.<o></o>

<o></o>

Trav UK 25 DRS v1

<o></o>

Place a 4 entry strangle at UK open, 25 pips away from UK open price.<o></o>

<o></o>

TP: Target Profit levels are 14, 30, 50, 80 pips away from entry.<o></o>

<o></o>

TSL: A 20 pip trailing stop loss which is initiated at entry is applied to all positions.<o></o>

<o></o>

TS: A timed stop is also applied so all positions are closed at US open.<o></o>

<o></o>

Close the position when TP, TSL or TS is triggered. <o></o>

<o></o>

This is not an OCO order.<o></o>

<o></o>

There is no re-entry.<o></o>

<o></o>

Trav US 25 DRS v1

<o></o>

Place a 4 entry strangle at US open, 25 pips away from US open price.<o></o>

<o></o>

TP: Target Profit levels are 14, 30, 50, 80 pips away from entry.<o></o>

<o></o>

TSL: A 20 pip trailing stop loss which is initiated at entry is applied to all positions.<o></o>

<o></o>

TS: A timed stop is also applied so all positions are closed at UK close.<o></o>

<o></o>

Close the position when TP, TSL or TS is triggered. <o></o>

<o></o>

This is not an OCO order.<o></o>

<o></o>

There is no re-entry.<o></o>

<o></o>

<o></o>

So how did they do over the 3 week sample?<o></o>

<o></o>

UK 20: 247 pips<o></o>

UK 25: 287 pips<o></o>

US 20: -142 pips<o></o>

US 25: -109 pips<o></o>

<o></o>

These figures are net (3 pip spread).<o></o>

<o></o>

Every trading plan is a balance. I’m happy with the result of the UK 25. I think the US plan still has merit, just need to find the right combination for instance maybe a 30 or 35 strangle with perhaps a lesser TP. More work needed.<o></o>

<o></o>

I really think this strategy needs to be tested over a longer time period before going live to negate any biases caused by a small sample size. Since manually back testing is arduous work and this is a simple mechanical system, Mikhail, if you have the ability and interest in converting this into an EA it would really be appreciated. BTW Athalon7 posted an EA post No. 553. Not sure if it is easier to modify and exisitng one or start anew.
  • #700
  • Jan 3, 2007 8:04am Jan 3, 2007 8:04am
Hi Trav,


I have been following this thread for a while as I have been trading a variant of Micardo's style, but have been analyzing MarkJ's method, which is similar to your's as you mentioned.

I am a programmer and plan to spend this weekend coding up your method as it has a great deal of merit, I believe. Could you please specify what times GMT you are using for the various OPEN/CLOSES? This will help in testing and to establish defaults.

Rick
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