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  • Did your pips/$$ grow with this?
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  • #1
  • First Post: Edited Feb 18, 2008 8:22am Feb 13, 2008 7:03am | Edited Feb 18, 2008 8:22am
I thought I am gonna start a new thread with my daytrading system.

Look at previous 2 bars. If yesterdays bars' low is higher than the one before AND close is higher than the open. Buy on the open of the current bar.
SL is 1/2 of the daily ATR. If SL hit reverse. Do this ONLY ONCE.
No take profit or break even. Close at the end of the day. Next day repeat.

Short reverse.

System update. (18/02/2008)

Those who like to keep positions longer. Basically if we get contnuously the same signal day after day. We can do as follows. IF SL is not hit the previous leave positions as they are. Open new positions the new day and set the SL as 1/2 of the ATR as usual. Adjust previous days' SLs to this level. Basically if we have a 4-6 days swing we can do over thousand pips in profit. Nice??

Bye.
BR
.
  • #2
  • Feb 13, 2008 7:12am Feb 13, 2008 7:12am
Quoting bullrock
I thought I am gonna start a new thread with my daytrading system.

Look at previous 2 bars. If yesterdays bars' low is higher than the one before AND close is higher than the open. Buy on the open of the current bar.
SL is 1/2 of the daily ATR. If SL hit reverse. Do this ONLY ONCE.
No take profit or break even. Close at the end of the day. Next day repeat.

Short reverse.

Bye.
BR
Hi
which pairs are good for this
or doesnt matter?
cheers
  • #3
  • Feb 13, 2008 7:16am Feb 13, 2008 7:16am
Quoting croesesFX
Hi
which pairs are good for this
or doesnt matter?
cheers
I have run extensive analysis on the GBP/USD pair.
Result between 01/2007 and 10/2007 using the 15 min metatrader data resulted in approx 2000 pips if open is 8am in the morning and close is 8pm.
That is all. Hope this helps.

The analysis has been done using a C++ analytical code written by myself. This is raw system. Can be improved largely I believe.
.
  • #4
  • Feb 13, 2008 7:18am Feb 13, 2008 7:18am
I am using it on daily basis as a base of my decisions with success.
The key is discipline and consistency as always.

Now I am running the same code on 10 currency pairs with correlation factors included and I will see the result. I am expecting the risk drop considerably as a result of diversisfication.
.
  • #5
  • Feb 13, 2008 7:19am Feb 13, 2008 7:19am
Quoting bullrock
I have run extensive analysis on the GBP/USD pair.
Result between 01/2007 and 10/2007 using the 15 min metatrader data resulted in approx 2000 pips if open is 8am in the morning and close is 8pm.
That is all. Hope this helps.

The analysis has been done using a C++ analytical code written by myself. This is raw system. Can be improved largely I believe.
thanks for that
will try this tomorrow
  • #6
  • Feb 13, 2008 7:23am Feb 13, 2008 7:23am
Thought will make some useful contribution to FF after a series of questionable posts and threads of my mental health.
.
  • #7
  • Feb 13, 2008 7:52am Feb 13, 2008 7:52am
One more thing I forgot the test above covers ONLY the long trades. I forgot to mention that. I am working now on the second version of the code which tests from the other side as well. ie shorts.
.
  • #8
  • Feb 13, 2008 7:54am Feb 13, 2008 7:54am
Thanks for the break even vote.
.
  • #9
  • Feb 13, 2008 8:01am Feb 13, 2008 8:01am
The system I am proposing here can be a basis of something different but we shall not overcomplicate things. Basically the diversification is one key to reduce the risk. And if we keep the system simple we can manage more instruments. Hint. So Say. We look at probabilities of price action like this one plus a bunch of instruments.

I have no time to watch the market whole day so the rationale behind this. I wake up look at the chart for 1 second of each instrument. Select a bunch. Put in the orders. Close PC and do something. In the evening close everything whataver is the situation. Start process next morning. I do this 6am GMT and close everything 8pm GMT. I do use a bunch of other things like pivots, mas and so on but that is a different strory.
.
  • #10
  • Feb 13, 2008 8:05am Feb 13, 2008 8:05am
I am also going to analyse things like outbars and inbars for instance. But for now we stay in the domain of "higher low and close higher" domain for long.
.
  • #11
  • Feb 13, 2008 8:15am Feb 13, 2008 8:15am
Hi BullRock
Thanks for sharing,but which time frames can you apply this system to.
Regards
baz
  • #12
  • Feb 13, 2008 8:16am Feb 13, 2008 8:16am

I've voted fortune, because i've traded with this system before. I'm posting some of my personal results with it. I've concluded that it works very well in trends, but as with almost every system out there relies heavily on money management (more than you'd want) within a range. I think however that examining the lows and highs of the bars as recommend will help keep you from taking trades in a small box.

So, yes it works. I definitely recommend it. The lash shows the negative whiplash before the trade goes in your direction.

Best of luck.

SUMMARY
TRADE #001


~GBP/USD~
16.03.2007


Entry - 1.9371 (Long)


Target 1 / 10 PIPs - 1.9381 (HIT)
Target 2 / 20 PIPs - 1.9391 (HIT)
Target 3 / 30 PIPs - 1.9401 (HIT)
Target 4 / 40 PIPs - 1.9411 (HIT)
Target 5 / 50 PIPs - 1.9421 (HIT)


Stop Loss / 35 PIPs - 1.9336
Lash - 1.9356 (15 Pips)


Actual Probable Profit After Lash: 102 Pips as of /GMT: 10:15 AM/
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL Profit Since Trade #001 /16.03.2007/: 50 PIPS

SUMMARY

TRADE #002


~GBP/JPY~
18.03.2007


Entry - 226.00 (Short)
Lots Traded - 2.0


Target 1 / 10 PIPs - 225.90 (HIT)
Target 2 / 20 PIPs - 225.80 (HIT)
Target 3 / 30 PIPs - 225.70 (HIT)
Target 4 / 40 PIPs - 225.60 (HIT)
Target 5 / 50 PIPs - 225.50 (HIT)


Stop Loss / 35 PIPs - 226.35
Lash - 226.22 (22 Pips)


Actual Probable Profit After Lash: ~300 Pips as of /GMT: 10:00 PM/
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL Profit Since Trade #001 /16.03.2007/: 100 PIPS


SUMMARY

TRADE #003



~GBP/JPY~
19.03.2007



Entry - 228.34 (Long)
Lots Traded - 2.0



Target 1 / 10 PIPs - 228.44 (HIT)
Target 2 / 20 PIPs - 228.54 (HIT)
Target 3 / 30 PIPs - 228.64 (HIT)
Target 4 / 40 PIPs - 228.74 (HIT)
Target 5 / 50 PIPs - 228.84 (HIT)



Stop Loss / 35 PIPs - 227.99 (Day)
Stop Loss / S - 225.53 (Swing)
Lash - 228.34 (0 Pips)



Actual Probable Profit After Lash: ~X Pips as of /GMT: X:X AM/
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL Profit Since Trade #001 /16.03.2007/: 286 PIPS (14H:19Min.)
Time Since Entry: 50 Min. (To Hit T5)

SUMMARY

TRADE #004



~GBP/JPY~
20.03.2007



Entry - 229.95 (Long)
Lots Traded - 2.0



Target 1 / 10 PIPs - 230.05 (HIT)
Target 2 / 20 PIPs - 230.15 (HIT)
Target 3 / 30 PIPs - 230.25 (HIT)
Target 4 / 40 PIPs - 230.35 (HIT)
Target 5 / 50 PIPs - 230.45 (HIT)



Stop Loss / 35 PIPs - 229.60 (Day)
Stop Loss / 161 PIPs - 228.34 (Swing)
Lash - 229.80 (15 Pips)



Actual Probable Profit After Lash: ~X Pips as of /GMT: X:X AM/
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL Profit Since Trade #001 /16.03.2007/: 413 PIPS in 4 trades in 4 days...

SUMMARY

TRADE #005


~GBP/JPY~
26.03.2007


Entry - 232.57 (Long)
Lots Traded - 2.0


Target 1 / 10 PIPs - 232.76 (HIT)
Target 2 / 20 PIPs - 232.96 (TERMINATED)
Target 3 / 30 PIPs - 233.06 (TERMINATED)
Target 4 / 40 PIPs - 233.16 (TERMINATED)
Target 5 / 50 PIPs - 233.26 (TERMINATED)


Stop Loss / 35 PIPs - 232.22
Lash - 232.55
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL Profit Since Trade #001 /16.03.2007/: 423 PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

SUMMARY

TRADE #006


~GBP/JPY~

28.03.2007

Entry - 231.54 (Short)
Lots Traded - 2.0


Target 1 / 10 PIPs - 231.35 (HIT)
Target 2 / 20 PIPs - 231.25 (IMPRESSIVE)
Target 3 / 30 PIPs - 231.15 (YEEE HAWW!!)
Target 4 / 40 PIPs - 231.05 (BOOYAH!)
Target 5 / 50 PIPs - 230.95 (GOD LIKEEE!!!)


Stop Loss / 35 PIPs - 231.89 (INTRA-DAY)
Stop Loss / XX PIPs - 232.97 (SWING)
Lash - 35 Pips


- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL Profit Since Trade #001 /16.03.2007/: 473 PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

SUMMARY

TRADE #007


~GBP/JPY~
29.03.2007


Entry - 229.29 (Short)
Lots Traded - 2.0


Target 1 / 10 PIPs - 229.10 (LIVE)
Target 2 / 20 PIPs - 229.00 (LIVE)
Target 3 / 30 PIPs - 228.90 (LIVE)
Target 4 / 40 PIPs - 228.80 (LIVE)
Target 5 / 50 PIPs - 227.70 (LIVE)


Stop Loss / 40 PIPs - 229.69 (INTRA-DAY)
Stop Loss / X PIPs - 231.89 (SWING)
Lash - +4 Pips


- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL Profit Since Trade #001 /16.03.2007/: 744 PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

SUMMARY

TRADE #008


~GBP/JPY~
02.04.2007


Entry - 231.42 (Long)
Lots Traded - 2.0


Target 1 / 10 PIPs - 231.68 (HIT)
Target 2 / 20 PIPs - 231.78 (HIT)
Target 3 / 30 PIPs - 231.88 (HIT
Target 4 / 40 PIPs - 231.98 (HIT)
Target 5 / 50 PIPs - 232.08 (HIT)


Stop Loss / 40 PIPs- 230.98 (INTRA-DAY)
Stop Loss / X PIPs- 230.51 (SWING)
Lash - 16 PIPS


TRADE TYPE: Mechanical
(Entirely Indicator Based / No Technical or Fundamental Anlysis)


STATISTICS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL Profit Since Trade #001 /16.03.2007/: +941 PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL Loss Since Trade #001 /16.03.2007/: -40 PIPS


- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

== == == == == == == == == == == == == == == == == == == ==

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL P/L On Current Trade:
Lot 1: 50
Lot 2: 147
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
SUM TILL DATE: 901 PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

SUMMARY
TRADE #009

~GBP/JPY~
04.04.2007


Entry - 234.52 (Long)
Lots Traded - 2.0


Target 1 / 10 PIPs - 234.71 (TERMINATED)
Target 2 / 20 PIPs - 234.81 (TERMINATED)
Target 3 / 30 PIPs - 234.91 (TERMINATED)
Target 4 / 40 PIPs - 235.01 (TERMINATED)
Target 5 / 50 PIPs - 235.11 (TERMINATED)


INTRA-DAY Stop Loss / 50 PIPs- 234.02 (HIT)
SWING Stop Loss / X PIPs- 232.83 (LIVE)
Lash - 83 PIPS


TRADE TYPE: Mechanical
(Entirely Indicator Based / No Technical or Fundamental Anlysis)


STATISTICS

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL Profit Since Trade #001 /16.03.2007/: +941 PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL Loss Since Trade #001 /16.03.2007/: -90 PIPS


- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL P/L On Current Trade:
-50 PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
SUM TILL DATE: 851 PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

SUMMARY

TRADE #010

 ~GBP/JPY~
06.04.2007


Entry - 233.95 (Short)
Lots Traded - 2.0


Target 1 / 10 PIPs - 233.76 (TERMINATED)
Target 2 / 20 PIPs - 233.66(TERMINATED)
Target 3 / 30 PIPs - 233.56(TERMINATED)
Target 4 / 40 PIPs - 233.46(TERMINATED)
Target 5 / 50 PIPs - 233.36 (TERMINATED)


INTRA-DAY Stop Loss / 50 PIPs- 234.45 (HIT)
SWING Stop Loss / X PIPs- 234.80 (?)
Lash - 50+ PIPS


TRADE TYPE: 100% Mechanical
(Entirely Indicator Based / No Technical or Fundamental Anlysis)


STATISTICS

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL Profit Since Trade #001 /16.03.2007/: +941 PIPS

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL Loss Since Trade #001 /16.03.2007/: -140 PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL P/L On Current Trade:
(-50) PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
SUM TILL DATE: 801 PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

SUMMARY
TRADE #011

~GBP/JPY~
12.04.2007


Entry - 235.76 (Long)
Lots Traded - 2.0


Target 1 / 10 PIPs - 235.95 (HIT)
Target 2 / 30 PIPs - 236.05 (HIT)
Target 3 / 50 PIPs - 236.14 (HIT)


INTRA-DAY Stop Loss / 51 PIPs- 235.25 (HIT)
SWING Stop Loss / X PIPs- 234.64 (HELD)
Lash - (-100) PIPS


TRADE TYPE: 100% Mechanical
(Entirely Indicator Based / No Technical or Fundamental Anlysis)


STATISTICS

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL Profit Since Trade #001 /16.03.2007/: +1109 PIPS

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL Loss Since Trade #001 /16.03.2007/: -140 PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL P/L On Current Trade:
+168 PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
SUM TILL DATE: 969 PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

SUMMARY
TRADE #012

~GBP/USD~
17.04.2007


Entry - 1.9885 (Short)
Lots Traded - 2.0


Target 1 / 10 PIPs - 1.9870 (TERMINATED)
Target 2 / 30 PIPs - 1.9850 (TERMINATED)
Target 3 / 50 PIPs - 1.9820 (TERMINATED)


INTRA-DAY Stop Loss / 50 PIPs- 1.9935 (HIT)
 SWING Stop Loss / 52 PIPs- 1.9937 (HIT)
Lash - 92 PIPS


TRADE TYPE: 100% Mechanical
(Entirely Indicator Based / No Technical or Fundamental Anlysis)


STATISTICS

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL Profit Since Trade #001 /16.03.2007/: +1109 PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL Loss Since Trade #001 /16.03.2007/: -190 PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL P/L On Current Trade:
(-50) PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
SUM TILL DATE: +919 PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

SUMMARY
TRADE #013

~GBP/USD~
24.04.2007


Entry - 1.9995 (Short)
Lots Traded - 2.0


Target 1 / 10 PIPs - 1.9980 (TERMINATED)
Target 2 / 30 PIPs - 1.9860 (TERMINATED)
Target 3 / 50 PIPs - 1.9840 (TERMINATED)


INTRA-DAY Stop Loss / 50 PIPs- 2.0045 (HIT)
SWING Stop Loss / 51 PIPs- 2.0046 (HIT)
Lash - 51 PIPS


TRADE TYPE: 100% Mechanical
(Entirely Indicator Based / No Technical or Fundamental Anlysis)


STATISTICS

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL Profit Since Trade #001 /16.03.2007/: +1109 PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL Loss Since Trade #001 /16.03.2007/: -240 PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL P/L On Current Trade:
(-50) PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
SUM TILL DATE: +869 PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -


SUMMARY
 TRADE #014

 ~GBP/USD~
25.04.2007


Entry - 2.0040 (Long)
Lots Traded - 2.0


Target 1 / 10 PIPs - 2.0055 (TERMINATED)
Target 2 / 30 PIPs - 2.0075 (TERMINATED)
Target 3 / 50 PIPs - 2.0095 (TERMINATED)


INTRA-DAY Stop Loss / 50 PIPs- 1.9995 (HIT)
SWING Stop Loss / 100 PIPs- 1.9940 (HIT)
Lash - 150 PIPS

TRADE TYPE: 100% Mechanical
(Entirely Indicator Based / No Technical or Fundamental Anlysis)


STATISTICS


- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL Profit Since Trade #001 /16.03.2007/: +1109 PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL Loss Since Trade #001 /16.03.2007/: -290 PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL P/L On Current Trade:
(-50) PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
SUM TILL DATE: +819 PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -







"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • #13
  • Feb 13, 2008 8:20am Feb 13, 2008 8:20am
Quoting effilang
I've voted fortune, because i've traded with this system before....


.
  • #14
  • Feb 13, 2008 8:23am Feb 13, 2008 8:23am
That also correlates with my results. As far as the MM is concerned diversification is one key to that. Then the analysis of bars is the other. Also I am using the slope of a moving average. Later I will post pics.
.
  • #15
  • Feb 13, 2008 10:14am Feb 13, 2008 10:14am
Thx for sharing



But what about short trades?

Regards
  • #16
  • Feb 13, 2008 10:29am Feb 13, 2008 10:29am
looks interesting, very simple, not time consuming and performing...
  • #17
  • Feb 13, 2008 10:55am Feb 13, 2008 10:55am
Quoting hany mohssen
Thx for sharing



But what about short trades?

Regards
Same do the reverse. If previous high is lower than the one before and the close is lower than the open. Sell on the open. SL is 1/2 of the daily ATR. If SL hit reverse. Do that ONCE A DAY.
.
  • #18
  • Feb 13, 2008 10:57am Feb 13, 2008 10:57am
Quoting bullrock
I thought I am gonna start a new thread with my daytrading system.

Look at previous 2 bars. If yesterdays bars' low is higher than the one before AND close is higher than the open. Buy on the open of the current bar.
SL is 1/2 of the daily ATR. If SL hit reverse. Do this ONLY ONCE.
No take profit or break even. Close at the end of the day. Next day repeat.

Short reverse.

Bye.
BR

What is the ATR lookback?
Thanks
  • #19
  • Feb 13, 2008 10:58am Feb 13, 2008 10:58am
Quoting melpheos
looks interesting, very simple, not time consuming and performing...
Thanks. Of course one should not bet the farm. So I think 1%-2% risk is the max. Basically on a very bad day if risk 1% than the 2% of the account can be gone. On a series of very bad days than can be substantial. Shit can happen as they say. This is not a holy grail. I would risk 0.5% on any pair in one direction. Find little correlated pairs and apply the method on 10. The cumulative risk might be around 5%-10% but the ACTUAL risk might be lower due to the non-correlation. I am doing the calculations I do not have yet specific answers.
.
  • #20
  • Feb 13, 2008 11:01am Feb 13, 2008 11:01am
One can also apply more rules. I have published here a basic stuff that WORKS. I am using it on a daily basis and it makes consistent profits. My calculations, including spread, slippage factor and so on showed 2000 pips for approx 200 days!!! That is 10pips a day on average. BUT THAT IS AVERAGE.

The statistician said that the river 1 m deep on AVERAGE and the drowned. . So one can have 10 loosing days and the 10 winning days in a row. Can you stand that. Well one should modifie to the ones taste so it can be accepted mentally and not violated!!!
.
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