Strategy to take safe pips every day | Page 6 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Percentage vs. Pips per Trade vs. Pips per Day/Hour! 7 replies

‏Take 1435 positions Every Day in GBPUSD 92 replies

How to take picture of chart at same time every day? 2 replies

How difficult to make 10 pips every day with only one hour trading? 29 replies

20 Pips A Day Every Morning Between 8-9a.m EST 24 replies

Attachments: Strategy to take safe pips every day
Exit Attachments

Strategy to take safe pips every day

  • #101
  • Nov 22, 2007 1:34am Nov 22, 2007 1:34am
i found out that ema 6 and ema 50 is good for checking if the signal is more safe...
  • #102
  • Nov 22, 2007 1:34am Nov 22, 2007 1:34am
Quoting toto4444
i found out that ema 6 and ema 50 is good for checking if the signal is more safe...
but check both...
  • #103
  • Nov 22, 2007 2:29am Nov 22, 2007 2:29am
Quoting th_ngue21
Your system is way tooo easy!! Forex isnīt easy bro.
Lame comment...

First there is a difference between SIMPLE and EASY.

This strategy is SIMPLE, that does not mean it is easy !

Many strategies are simple but using them is not easy...
  • #104
  • Nov 22, 2007 2:30am Nov 22, 2007 2:30am
Hi toto,

In what way do you use the 6EMA and 50EMA?

Are you using it in the same way as the 10/20 ... for trend direction and not trading if the 6EMA is touched (like the 10EMA being touched)?

... or are you using the 6 and 50 EMA's for something different?

Thanks, Johnny.
  • #105
  • Nov 22, 2007 3:32am Nov 22, 2007 3:32am
Quoting melpheos
Lame comment...

First there is a difference between SIMPLE and EASY.

This strategy is SIMPLE, that does not mean it is easy !

Many strategies are simple but using them is not easy...
its definetly harder than it looks, this aussie trade only just made it by the skin of its teeth and the pound trade failed despite a reduced target to avoid having to break the central pivot. It is possible to lose and have a run of consecutive losers like any other system.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSD Spot2.PNG Size: 21 KB
Click to Enlarge Name: GBPUSD Spot8.PNG Size: 22 KB
BTC Return This Year: na
  • #106
  • Nov 22, 2007 4:04am Nov 22, 2007 4:04am
sometimes if theres is a long candle in the direction u better stay out of the market

thats my way to do
  • #107
  • Nov 22, 2007 5:09am Nov 22, 2007 5:09am
Quoting smikester
So that makes Doug's most recent post an incorrectly set up trade?

i believe Doug was correct..........
  • #108
  • Nov 22, 2007 8:43pm Nov 22, 2007 8:43pm
I just finished manually backtesting this strategy on GBP/USD and my results do not match totos' success. Obviously Toto is using discretion to exit and that is based on experience which we do not have. I targeted an equal price move, not including spread, from entry as my stop to increase the number of winners. I got a 2:1 win loss ratio or around 70% hit rate. Adding in the 3 pip spread means you are risking 6 pips more than you will win on any given trade and that certainly cuts into returns. There were 65 trade opportunities in 7 trading days and it finished 144 pips in front earning 2.2 pips per trade on average. If it continued to achieve this and was autotraded to catch every move you will get 20 pips per day. With an average risk of 18 pips per trade, it makes this still the most profitable system I have ever seen. Looks like some more rules are needed to match Toto's success though. We need to hear more from the author as to exactly how he achieved 139 trades with only 1 loss with a mechanical system because that result is a mystery to me. Failing that, I am more than happy to persevere with the improvement of this technique

backtest results GBP/USD 5 minute chart 13/11/07 - 21/11 07

trades 65
win 44
lose 20
average win 11.5
average loss 18
total pips from wins 504
total pips from losses 360
total pips 144
profit factor 1.4

The Thing - your entry technique actually seemed to work well and I am looking at this and other ideas in consultation with johnnyforex to get an earlier entry and improve the risk/reward per trade
BTC Return This Year: na
  • #109
  • Nov 23, 2007 1:32am Nov 23, 2007 1:32am
Quoting toto4444
i found out that ema 6 and ema 50 is good for checking if the signal is more safe...
Hi TOTO4444 im just a begginer (GBP/JPY), what the indicators that i can use ?
Thank you....
  • #110
  • Nov 23, 2007 1:42am Nov 23, 2007 1:42am
Quoting toto4444
sometimes if theres is a long candle in the direction u better stay out of the market

thats my way to do
Hi Toto Please explain more about it. I still dont get it.

Please.....

Thank you
  • #111
  • Nov 23, 2007 6:07am Nov 23, 2007 6:07am
maybe a short setup, if there is a big candle down so u better stay out of the market bcos sometimes a correction is beginning and u will loosing money... so thats the was, try this in a demo and in about a few week u will devoloping an "eye" for the entries end the exits... the strategie builds only the base.

ii heard from so many traders that they make the same profits like me, some traders make more pips than me, so the strategie works,

look at relly clear signals and then go in
  • #112
  • Nov 25, 2007 8:48am Nov 25, 2007 8:48am
to doug,

if u can send me the backtest, maybe i can watch the parameters u use and try to make it a litle more effective, withch software do u use for that ?

maybe we can find a way to put the loosers away ;-)
  • #113
  • Nov 27, 2007 7:10am Nov 27, 2007 7:10am


http://img250.imageshack.us/img250/6...dddddaaqj3.gif
  • #114
  • Nov 27, 2007 8:34am Nov 27, 2007 8:34am
Quoting darko80
I could suggest to apply momentum indicator to the charts. It can say when a trend is near reversal or start
what setting will be suitable ?
  • #115
  • Nov 27, 2007 8:38am Nov 27, 2007 8:38am
Quoting toto4444
noe we are programming a automated system for trade this strategie. backtest for the last three mouth was 139 trades only one looser, since 1.aug we put the account from 10k to 52k ;-) with a little changes of the indicators bcos its automaticly.

i will post if the system is ready to trade live... if someone is really intessested in it ... pls contact me on skype kimba1999 i thinking about to make managed accounts , i hope it can be done asap, the programm is still exist.

i will post the trades now
yipeeee.......!
  • #116
  • Nov 27, 2007 8:50am Nov 27, 2007 8:50am
There were 65 trade opportunities in 7 trading days and it finished 144 pips in front earning 2.2 pips per trade on average. If it continued to achieve this and was autotraded to catch every move you will get 20 pips per day. With an average risk of 18 pips per trade, it makes this still the most profitable system I have ever seen. Looks like some more rules are needed to match Toto's success though. We need to hear more from the author as to exactly how he achieved 139 trades with only 1 loss with a mechanical system because that result is a mystery to me. Failing that, I am more than happy to persevere with the improvement of this technique



I really need to know how to use this 5 minute charts to scalp, i have been trying entering when the candle is not touching the 10 EMA, how can i spot when to enter. All the people that are explaining it addressing the issue like professional. I am a beginner. PLS HELP!!!
  • #117
  • Nov 27, 2007 9:01am Nov 27, 2007 9:01am
long setup:

wait for an up candle in between the trend and wait for the next candle if the next candle startet to be negativ, then there is a resistance to break upper the candle.

Wait till the negative candle is finished and then u can go long 1 pip over the long candle, set stop on the low of the up candle, and wait for some pips. take your profit when u see a next resitance...

i trade this since many mounth with an winner rate of 85%, sometimes i take only 5 pips but its enough... becos its a very safe way of trading.

I want you to explain "wait for an up candle in between the trend" and what do you mean by when there is a resistance candle? Please help my screen name on skpe is also "uncletrumpet". Thank you.
  • #118
  • Nov 28, 2007 6:04am Nov 28, 2007 6:04am
Quoting uncletrumpet
There were 65 trade opportunities in 7 trading days and it finished 144 pips in front earning 2.2 pips per trade on average. If it continued to achieve this and was autotraded to catch every move you will get 20 pips per day. With an average risk of 18 pips per trade, it makes this still the most profitable system I have ever seen. Looks like some more rules are needed to match Toto's success though. We need to hear more from the author as to exactly how he achieved 139 trades with only 1 loss with a mechanical system because that result is a mystery to me. Failing that, I am more than happy to persevere with the improvement of this technique





I really need to know how to use this 5 minute charts to scalp, i have been trying entering when the candle is not touching the 10 EMA, how can i spot when to enter. All the people that are explaining it addressing the issue like professional. I am a beginner. PLS HELP!!!
I would love to teach you but I dont know how to trade this safely - I had a few wins in the beginning and got excited but that was luck. This is a discretionary method that requires experience to make it profitable. Toto plays the trade live and exits on "feel". He usually takes much less profit than the stop he uses and if you try to do this as a beginner you will get slaughtered. scalping is the most difficult trading style to master. The odds against success are HUGE. Without knowing how to do this technique it will kill you quickly and the only way you are going to find out is to practice. I want rules to follow that have a positive expectancy and none exist for this technique, except in the backtest program that achieved 138 winners out of 139 trades. I have a feeling we will never find out what rules were used to achieve this because if accurate, that information is priceless.
If I was going to teach a beginner anything it would be this - The most brilliant minds on the planet, with millions of dollars of backing, using the most advanced technology available, working round the clock in teams, still manage to lose huge sums of money trying to beat the market - How much are you prepared to do? how far can you go? - winning this game is going to take everything youve got and more. Start with patience, trade a micro account at 10 cents a pip for at least a year and learn everything you can about trading psychology, risk management and working in proababilities. If you do this you will be in with a chance of success. If you dont do this and start trading live without knowing what its all about, you will lose, continuously, until you eventually give up
BTC Return This Year: na
  • #119
  • Nov 28, 2007 6:17am Nov 28, 2007 6:17am
it is something wrong with it?

http://img527.imageshack.us/img527/7...dddddaayb5.gif
  • #120
  • Nov 28, 2007 6:33am Nov 28, 2007 6:33am
Quoting giraia_br
it is something wrong with it?

http://img527.imageshack.us/img527/7...dddddaayb5.gif
i think toto did warn not to enter if the trending candle just before the retracement candle is a long candle ? and that candle was over 40 pip long ?
0 traders viewing now