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High & Low 8 Hours (GBP/JPY)

  • #2,041
  • Jan 8, 2008 4:27am Jan 8, 2008 4:27am
Can we get some pip totals, gang?
  • #2,042
  • Jan 8, 2008 5:15am Jan 8, 2008 5:15am
I just wanna refresh your sarcasm. You seem to be very interested with Nicotina lately.

Quoting tdion
"Tamed." LOL. Are you a currency tamer? I think you will be the one tamed....
"People sometimes mistake luck with skill"
  • #2,043
  • Jan 8, 2008 5:30am Jan 8, 2008 5:30am
Yeap got me my pips today.
  • #2,044
  • Jan 8, 2008 5:33am Jan 8, 2008 5:33am
For the record, I will never trade Nicotina. It can turn into a death trap without any warning.

However, I like watching people succeed.

Fair enough?

Quoting 20pips
I just wanna refresh your sarcasm. You seem to be very interested with Nicotina lately.
  • #2,045
  • Jan 8, 2008 5:41am Jan 8, 2008 5:41am
It would help if you'll watch people and just watch them, and encourage them. Cynicism to a system is probably acceptable but sarcasm is very unproductive.

I wish you good trading though, with or without Nicotina.

Quoting tdion
For the record, I will never trade Nicotina. It can turn into a death trap without any warning.

However, I like watching people succeed.

Fair enough?
"People sometimes mistake luck with skill"
  • #2,046
  • Jan 8, 2008 5:47am Jan 8, 2008 5:47am
Just wanna thank again Nicotina for this strategy. I know there's no guarantee that it would forever be profitable, but these days, it is.

G/J is still brutal when it hits you, but for the past few weeks, I've been riding through this system (with good cognizance of fundamentals), and pips keep on coming.

We can still polish this system by posting modifications and choose what setting is the best. My friend is using the 5 hour shaving by JR, and he seems to be more comfortable with it (than using the 8 hours).
"People sometimes mistake luck with skill"
  • #2,047
  • Jan 8, 2008 5:48am Jan 8, 2008 5:48am
The quote you posted from me on "taming GBPJPY" wasn't even on this thread. And that thread was a bit self-congratulatory, don't you think? I mean, I found it to be downright ridiculous.

I really wish you and all Nico traders have a highly profitable year. I hope your MM is sound, because otherwise you are playing with fire.

Quoting 20pips
Cynicism to a system is probably acceptable but sarcasm is very unproductive.
  • #2,048
  • Jan 8, 2008 6:21am Jan 8, 2008 6:21am
Quoting tdion
For the record, I will never trade Nicotina. It can turn into a death trap without any warning.


tdion,

I just wanted to pick your brain as to what kind of trading conditions would turn Nicotine into a"death trap"?
Greetings from Guanajuato, Mexico
  • #2,049
  • Edited 7:26am Jan 8, 2008 6:25am | Edited 7:26am
Sideways markets like GBPJPY 04-06 greatly lower the probability of success of this system. The problem is, you can't know whether 2008 will be volatile (like 2007) or sideways.

Nico did not have a profitable year until 2007.

A long string of losers.... or even somthing like: LLLWLLWLLLLLWLL is something you should consider.

It really depends on how you manage your money. If you are trading a fixed lot of, say 1.0 lots per trade, you will survive assuming the pip totals are positive and losing periods don't eat all of your account. A losing streak would cause extreme drawdown.

A fixed fraction is a different story. You could bleed to death, so to speak... Basically, your account could drop so low, that even 5-10 winners in a row wouldn't bring it completely out of drawdown.

This is a form of gambling. You can't be sure (as 20pips said) that it will continue working. But, you will look like a genious if it does. It's just one of those things where you accept all risk before you trade it.

Quoting yen44x

tdion,

I just wanted to pick your brain as to what kind of trading conditions would turn Nicotine into a"death trap"?
  • #2,050
  • Jan 8, 2008 6:36am Jan 8, 2008 6:36am
Quoting 20pips
Just wanna thank again Nicotina for this strategy. I know there's no guarantee that it would forever be profitable, but these days, it is.

G/J is still brutal when it hits you, but for the past few weeks, I've been riding through this system (with good cognizance of fundamentals), and pips keep on coming.

We can still polish this system by posting modifications and choose what setting is the best. My friend is using the 5 hour shaving by JR, and he seems to be more comfortable with it (than using the 8 hours).
Second you...

Not believing in any system is everybody's right. The best thing to do in this case is not visiting the related thread, imo.

Just like I do with the NASA-like systems around this forum.

Now popping in the thread with warnings that the strategy "might suck" is just wrong.
  • #2,051
  • Jan 8, 2008 6:42am Jan 8, 2008 6:42am
could that be the high of the day. http://bp0.blogger.com/_0Ci0rZaKpdY/...-h/jan+003.gif
  • #2,052
  • Jan 8, 2008 6:42am Jan 8, 2008 6:42am
How about that a system "did suck" for 3 years prior to 2007?

I have tried to give a perspective to newbies looking for a good system that there is risk involved. Just because people posted some positive trades lately, doesn't mean we shouldn't step back and examine risk.

Quoting cesarnc
Now popping in the thread with warnings that the strategy "might suck" is just wrong.
  • #2,053
  • Jan 8, 2008 7:22am Jan 8, 2008 7:22am
I read that some of you use the EA on 3 pairs, GBPJPY EURJPY and GBPUSD. Don't you think using the EA on these 3 pairs will lead to too much correlations?

Think about it, EURJPY and GBPJPY moves hand in hand. Why not just increase your risk size on GBPJPY?
  • #2,054
  • Jan 8, 2008 7:29am Jan 8, 2008 7:29am
Quoting JodyOng
I read that some of you use the EA on 3 pairs, GBPJPY EURJPY and GBPUSD. Don't you think using the EA on these 3 pairs will lead to too much correlations?

Think about it, EURJPY and GBPJPY moves hand in hand. Why not just increase your risk size on GBPJPY?
I traded all 3 pairs today with all 3 wins
yes I do agree with trading with both jyp`s
may drop the eur/jpy
  • #2,055
  • Jan 8, 2008 7:52am Jan 8, 2008 7:52am
And just to share, what tdion says is true. A system will not last forever and that is one of my fears when I first started testing this system like 4 days ago?

However, there isn't any signs that the system would stop performing now either. Just keep a lookout for periods when the losses starts coming.

When that happens, you can do 3 things. Stop the system, increase your risk size as you lose, or reduce your risk size.

The best bet is to reduce your risk size until the market gets volatile enough again.
  • #2,056
  • Jan 8, 2008 7:59am Jan 8, 2008 7:59am
Quoting tdion
How about that a system "did suck" for 3 years prior to 2007?

I have tried to give a perspective to newbies looking for a good system that there is risk involved. Just because people posted some positive trades lately, doesn't mean we shouldn't step back and examine risk.
hi tdion,

You got a point there. It's important to remember PROPER MM. It's the only way to keep our account alive when things go different way.

And i believe all day trading system needs volatility (unlike scalping or swing trading), so no volatility will probably kill almost every day trading system.

Just remember to risk 5-10% for one day trading and hopefully nicotina's system will be making pips for a very long long long run
  • #2,057
  • Jan 8, 2008 8:02am Jan 8, 2008 8:02am
Tdion,

Virtually all Forex trading systems work for only a season. If there was any system out there that worked virtually 100% of the time, I'm sure we'd all be using it. My point is simply this...if during 2008 Nicotina is successful and makes me money this year, I don't care what conditions occurred in the past that rendered it not profitable.

I, for one, am concerned about the present and the future. In that context, my account annualized for last year was up 170% following Nico's strategy. My sister trading separately with this strategy did nearly as well. That ROI (return on investment) speaks volumes to me, and I am eagerly looking forward to even better performance this year as we continue to hone this system.

Look...if the conditions that account for Nico's success in 1977 fade...this thread will end a natural death like so many before it. Then we simply change horses. For the present I will continue to trade this strategy.

Since you are down on Nico, do you care to share your winning system with the rest of our team?
  • #2,058
  • Jan 8, 2008 8:35am Jan 8, 2008 8:35am
Quoting tdion
How about that a system "did suck" for 3 years prior to 2007?

I have tried to give a perspective to newbies looking for a good system that there is risk involved. Just because people posted some positive trades lately, doesn't mean we shouldn't step back and examine risk.

Tdion,

I believe that regardless of your motives, you have made your point and I am sure most of traders following this system are aware of the trappings of blindly following any system. That is why I think that it is time for you move on and let everyone here follow what they think is suitable for them. If you want to continue expressing your opinion on this matter then perhaps you should start your own thread under Forex Discussion where you can answer those who are interested in dissecting this system.
Unus pro omnibus, omnes pro uno
  • #2,059
  • Jan 8, 2008 9:25am Jan 8, 2008 9:25am
Quoting tdion
How about that a system "did suck" for 3 years prior to 2007?

I have tried to give a perspective to newbies looking for a good system that there is risk involved. Just because people posted some positive trades lately, doesn't mean we shouldn't step back and examine risk.
I'm not going into a discussion with you here tdion. I know and share my view here why the system wasn't a killer prior to 2007.

As I share my view on why this system is a candidate for a killer this year.

The rest is my stoploss' and MM's business.

I'm not a blind rat after bread crumbs as it may appear to you.
  • #2,060
  • Jan 8, 2008 11:30am Jan 8, 2008 11:30am
Quoting 20pips
Just wanna thank again Nicotina for this strategy. I know there's no guarantee that it would forever be profitable, but these days, it is.

G/J is still brutal when it hits you, but for the past few weeks, I've been riding through this system (with good cognizance of fundamentals), and pips keep on coming.

We can still polish this system by posting modifications and choose what setting is the best. My friend is using the 5 hour shaving by JR, and he seems to be more comfortable with it (than using the 8 hours).

i like your spirit and we will be together with nicotina. the srtategy is ok and good but no matter how white the sky is we will see blue. all because of the time we are, the srategy will soon be ok for everyone. we are not sleeping and nicotina is not, so we will find necesary adjustment
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