Dear all,
I will be trading the next couple of months using a small part of my capital on a specific stratergy described in this forum. The system was first introduced by nicotina and is being followed actively by some people in this forum.I have used it prospectively on demo trade for couple of weeks and it has given me more wins than losses.The backtesting on this system has given a mixed bag of results.There have sharp critisicm of this system by some traders as it has given mixed results and feel that the success if this system is just purely due to randomness and becoz of the greater range and way the GBP/YEN is behaving this year and this system could fail without warning.
But it is showing me the results and i tempted to continue using it as long as it nets me PIPS.
I am going live with this system on 12/12/2007.
The main reason for writing this journal is also to keep an accurate record of my trades as i find it difficult to do so without an accountability.Once i start posting them here,i feel that i will be more responsible as it gives u a feeling that someone is watching you.
The main stratergy of the system i am using:
System: Find the maximum and the minimum between 18:00GTM and 2:00GTM and then put a buy stop order with maximum and a sell stop order with the minimum.
TP 100
SL 50
If close in S/L open again the stop orders.
Close the day if close in S/L for the second time.
Close the day if close in TP.
Do not change the SL and the TP
Closes orders manually only at the end of the day (18:00 GTM).
( Acknowldgement to Nicotina for sharing this stratergy )
Any questions on this system are elaborately discussed in the following thread and better addressed there than here:
http://www.forexfactory.com/showthread.php?t=51365
There is an EA available to trade this system which has been created by saaebd and he has fine tuned it to include various parameters suggested by members and at the same time keeping the stratergy intact.
EA for this system:
( Acknowldgement to Saaebd for sharing this stratergy )
I will try to incorporate my wins into a trading calculator to compound the earnings and see where will i be in 3 months time.
( Acknowldgement to Zoheir for sharing this calculator )
I will try to post the trades everyday here along with the results.
I will be trading the next couple of months using a small part of my capital on a specific stratergy described in this forum. The system was first introduced by nicotina and is being followed actively by some people in this forum.I have used it prospectively on demo trade for couple of weeks and it has given me more wins than losses.The backtesting on this system has given a mixed bag of results.There have sharp critisicm of this system by some traders as it has given mixed results and feel that the success if this system is just purely due to randomness and becoz of the greater range and way the GBP/YEN is behaving this year and this system could fail without warning.
But it is showing me the results and i tempted to continue using it as long as it nets me PIPS.
I am going live with this system on 12/12/2007.
The main reason for writing this journal is also to keep an accurate record of my trades as i find it difficult to do so without an accountability.Once i start posting them here,i feel that i will be more responsible as it gives u a feeling that someone is watching you.
The main stratergy of the system i am using:
System: Find the maximum and the minimum between 18:00GTM and 2:00GTM and then put a buy stop order with maximum and a sell stop order with the minimum.
TP 100
SL 50
If close in S/L open again the stop orders.
Close the day if close in S/L for the second time.
Close the day if close in TP.
Do not change the SL and the TP
Closes orders manually only at the end of the day (18:00 GTM).
( Acknowldgement to Nicotina for sharing this stratergy )
Any questions on this system are elaborately discussed in the following thread and better addressed there than here:
http://www.forexfactory.com/showthread.php?t=51365
There is an EA available to trade this system which has been created by saaebd and he has fine tuned it to include various parameters suggested by members and at the same time keeping the stratergy intact.
EA for this system:
( Acknowldgement to Saaebd for sharing this stratergy )
I will try to incorporate my wins into a trading calculator to compound the earnings and see where will i be in 3 months time.
( Acknowldgement to Zoheir for sharing this calculator )
I will try to post the trades everyday here along with the results.