23/11/2007
Buy: 224.79
Sell: 223.27
Buy: 224.79
Sell: 223.27
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DislikedHi Bro billbss,
So after determining the highest and lowest, we set leave it from 0200 to 1800 for the buystop and sellstop, right?Ignored
DislikedI'm not sure I understand your question.
After determining the high and low from the 8 hour window (1800 until 0200), we set a buy stop order at the high and a sell stop order at the low.
If one of these gets triggered and then gets stopped out, we set up the same order again.
As soon as we win a trade, we stop or as soon as we get stopped out twice, we stop.
The most we can win in a day is 100 pips.
The most we can lose in a day is 100 pips.Ignored
DislikedYep, you're right. For me it shows +670 pips. The difference of +20 was due to the price closing the day before hitting the limit level.
Average win = 89.17
Average loss = 50
Wins = 12 / Losses = 8 (60% win)
1.78 Win/loss ratio
Of course it's a small fraction of the months, but it looks good.Ignored
DislikedHi guys,
I have been using this system for the last few weeks but I wouldn't trade on Sunday nights . I was just wondering how this system was working on the first trading day of the week and after holidays.Ignored
DislikedI'm not sure I understand your question.
After determining the high and low from the 8 hour window (1800 until 0200), we set a buy stop order at the high and a sell stop order at the low.
If one of these gets triggered and then gets stopped out, we set up the same order again.
As soon as we win a trade, we stop or as soon as we get stopped out twice, we stop.
The most we can win in a day is 100 pips.
The most we can lose in a day is 100 pips.Ignored
DislikedThank you. So just to clarify, if both the buy and sell gets triggered and say the long hits sl but the short is still open then we do not set up another buy stop order. Am I correct?
Thanks.Ignored
DislikedJonaslt,
Can you also look at if there is any correlation between the min-max spread and the success of the system? it seems like it is doing pretty well when spread is around 150 pips. It would be really good to see that (since you mentioned that system did not work before this year)Ignored
DislikedI changed the strategy slightly and I'm using SL 100 instead of 50. 50 seems too little for this pair.
Like today on the event of being stopped out twice for 50 pips I'm still running the trade. In bad shape, I give you that, but still breathing lol...
I can live with 1:1 r:r as long as the strategy is profitable in most of the days.Ignored
DislikedI'm not sure I understand your question.
After determining the high and low from the 8 hour window (1800 until 0200), we set a buy stop order at the high and a sell stop order at the low.
If one of these gets triggered and then gets stopped out, we set up the same order again.
As soon as we win a trade, we stop or as soon as we get stopped out twice, we stop.
The most we can win in a day is 100 pips.
The most we can lose in a day is 100 pips.Ignored
DislikedHi there, I´m new to the forum and been reading about this system. If I understand the minimum and the maximum are determined between 18:00 and 2:00 am GMT, is that correct? Then we entry long if the price goes above the maximum and we go short if the prices goes below the minimum level, ok? Yesterday I had an stop entry (selling) at 223.03 with a profit target of 100 pips and a Stop Loss of 50 pips. When I woke up I saw that my stop loss was triggered by the 9:00 am GMT candle 8hourly chart). I dont know if this spike had to do with some news release or not. The question is, when an important news is about to be release, do you set your profit at 100 pips anyway, or its better if I you set a 40 - 50 pips Profit target?
For the last, the time when lots can be open using this system is after 2:00 am until 18:00 GMT? I think this system can work very well, so I´would try it out. Thanks and sorry about my english.Ignored
DislikedToday it was stopped out on a short trade for -50. It made profit on the next short trade for +100.
Total = +50 pips.
You can change the PT before news if you want to, but that's not part of the system.Ignored
Dislikedthnanks for answering in short time, how do you trade this system, market orders or pending orders. Do you set just once stop entry or in case you are stopped out set another one some pips below or above the fisrt one?Ignored
DislikedJonalst,
I don't believe one of the orders being filled should result in cancellation of the other order. In fact, last week, I traded the Nico 12 which is GBP/USD @ Midnight CST. The Buy ended in a stop loss for 20 pips, BUT the Sell was filled for an eventual 40 pip win! So...my understanding is if the market doesn't trigger your position trades, you wait until end of day to close out the pending trade or trades manually.
If I am wrong, please correct me...Billbss?Ignored