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3 Amigos Intraday

  • #21
  • Oct 25, 2007 10:31pm Oct 25, 2007 10:31pm
So just to sumarize, the 3-Amigos is valid on the 15-Min, 1-Hr, and 4-Hr according to your tests?? Just making sure. Trying to start incorporate the Amigos into my circle of friends.
  • #22
  • Oct 26, 2007 4:39am Oct 26, 2007 4:39am
Hi Freed,

I am actually forward testing this on the daily charts using 1xATR as the initial stoploss. It looks like it may be profitable there as well. Exits based on close of daily candle on other side of an amigo still applies as does moving your stoploss up based on price action.

I am waiting for the first entry & will post here

Take care,

D.

Quoting freed14
So just to sumarize, the 3-Amigos is valid on the 15-Min, 1-Hr, and 4-Hr according to your tests?? Just making sure. Trying to start incorporate the Amigos into my circle of friends.
  • #23
  • Dec 20, 2007 2:51am Dec 20, 2007 2:51am
Hi Daemian,

How has your forward testing fo the daily been doing?

And any indications on results of the lower TFs?

Thanks

Forum37
  • #24
  • Dec 20, 2007 3:51am Dec 20, 2007 3:51am
Damien

each system, that pretends to be working, whould work on every pair and every frame. Only because of the fractal nature of the charts. There is no matter what is the symbol in the top of the charts -- this is just a chart and nothin' more.

Me for myself I think this system isn't good enough to be used regularly.

Best regards
  • #25
  • Dec 20, 2007 4:45am Dec 20, 2007 4:45am
Quoting Ceco-Ku4ev
Damien

Me for myself I think this system isn't good enough to be used regularly.

Best regards
Any hint for a better system?

Thanks

Forex37
  • #26
  • Dec 20, 2007 8:37am Dec 20, 2007 8:37am
Quoting Forex37
Any hint for a better system?

Thanks

Forex37
Sure - system without indicators, or not more than 1 indicator. It should be observed at 2/3 frames. I do not use MA - because there is no logical reason that their levels have any importance on the chart.
  • #27
  • Jan 4, 2008 8:54am Jan 4, 2008 8:54am
Hi Forex!

Sorry for the late response in this. After quite thorough backtesting, I found that the system is not very compatible with the larger timeframes. It didn't bust out my backtest account, but it's growth was very slow to insignificant (stayed around breakeven) over a 5 year timespan.

As for the lower timeframes; as with the majority of methods, with discretion this system will work. You have to pay attention to the time & market you are trading (as I mentioned earlier the Asian session might not be a good session to trade). For instance, you will see many valid breakouts around 12:00 -14:00 GMT on pairs such as EURUSD on the 15 min chart. Many of these would net you a healthy amount of pips with minimal risk & good gearing (R/R). Pay attention to S/R as well - you want a good breakout here!

Take care & happy trading!



Quoting Forex37
Hi Daemian,

How has your forward testing fo the daily been doing?

And any indications on results of the lower TFs?

Thanks

Forum37
  • #28
  • Jan 4, 2008 8:58am Jan 4, 2008 8:58am
I disagree wholeheartedly with this. Different pairs have different levels of volatility, therefore, a breakout system that works well on one pair, would show a lot of false breakouts on another. Even most of the professional publications would agree that differing markets, or products within the market (pairs, futures types, etc) may require differing methods or, in the least, modifications to existing methods.

D.

Quoting Ceco-Ku4ev
Damien

each system, that pretends to be working, whould work on every pair and every frame. Only because of the fractal nature of the charts. There is no matter what is the symbol in the top of the charts -- this is just a chart and nothin' more.

Me for myself I think this system isn't good enough to be used regularly.

Best regards
  • #29
  • Jan 4, 2008 9:01am Jan 4, 2008 9:01am
How about: "Whatever you find profitable"?

Ego's aside here, there are many ways to trade; naked, with indicators, without. Whichever one works for you is the best.

Many do not have the discipline and/or experience required to trade naked. MA's can be great in some instances. The ways I personally disagree with can show profit to another. Who am I to say that method is wrong?

Personally I am leaning towards the minimalistic approach. MA's for me can be a great way to show momentum (or lack thereof). I find no value in MA crosses or price 'bouncing' off of a magical line. but then, that's just me!!

D.


Quoting Ceco-Ku4ev
Sure - system without indicators, or not more than 1 indicator. It should be observed at 2/3 frames. I do not use MA - because there is no logical reason that their levels have any importance on the chart.
  • #30
  • Jan 21, 2008 9:49am Jan 21, 2008 9:49am
hi Daemien,
how are going the project?
Do you have some Statment of your trades?


Best Regards,
Marcelo Marques
  • #31
  • May 7, 2008 5:26am May 7, 2008 5:26am
This is working well alongside another system I use.
  • #32
  • Dec 28, 2008 3:24am Dec 28, 2008 3:24am
I recently did backtesting on this system beginning 30 days ago 'til present, and imho, it is not profitable in the long run. Too subject to whipsaws that eat up the profits.

Tried E/U, E/J, and G/U.

Just my opinion.

Maybe some other filters will help.
  • #33
  • Dec 28, 2008 3:40am Dec 28, 2008 3:40am
Quoting PistolDave
I recently did backtesting on this system beginning 30 days ago 'til present, and imho, it is not profitable in the long run. Too subject to whipsaws that eat up the profits.

Tried E/U, E/J, and G/U.

Just my opinion.

Maybe some other filters will help.
IMO, its based on trading randomness like many other system's here at FF and is therefore doomed to fail. Where could the edge in this sytem possibly be? How is the trader out-smartening others by trading this way? What market tendencies is it exploiting?

If it was possible to forecast when a trending market could occur, then that could work, But your edge would be the ability to distinguish when this kind of market movement was likely to happen.

Leon
Living the adventure in my head.
  • #34
  • Oct 13, 2010 9:28am Oct 13, 2010 9:28am
Hello, I am trading a different system for the last year, but I compared entry and exit signals and I like what I see. I made some trades for the last 7 days and made good pips with it. The most important for me to use this system: Trade London market and use this system with the recommended entry and exit rules. Don't change anything. Only trade with stop loss and let a winner ride. I trade GBP/USD and GPB/JPY and sometimes EUR/USD
  • #35
  • Oct 13, 2010 10:05am Oct 13, 2010 10:05am
Hi SXMTrader

Are you following the system as per the first thread, also what is your approx. winning ratio?

Thanks

WFX
  • #36
  • Oct 13, 2010 11:08pm Oct 13, 2010 11:08pm
Quoting PistolDave
I recently did backtesting on this system beginning 30 days ago 'til present, and imho, it is not profitable in the long run. Too subject to whipsaws that eat up the profits.

Tried E/U, E/J, and G/U.

Just my opinion.

Maybe some other filters will help.

try add macd for filter
  • #37
  • Last Post: Oct 14, 2010 12:23am Oct 14, 2010 12:23am
Hi,

I think its a nice and a simple concept to learn, understand and trade. Kudos to your effort !!

I am currently working on another system, but am sure encouraged to give your system a try too as soon as I am done with the current one...

Have Fun...
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