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NipThePips' Boomerang

  • #121
  • Jul 5, 2007 5:58pm Jul 5, 2007 5:58pm
Quoting smjones
Thanks for the info. perhaps you could list the new criteria you now have such as a time limit on a trade and how many trades to go in the sequence.

As I look at your doc, it does not mention a time limit. Also, My testing shows the EA starts over after the 10th trade is lost. I did this, because that is how you have your Excel sheet laid out...

If you can list the different criteria, I can adapt the program. thanks much,

I never said any criteria has changed. But I did say after 10 bounces there shouldnt be any more trades based on that initial trade. And also the profit goal never goes over 55 pips, so it shouldnt justify the EA to stop trading after 10 trades.

What I was saying is the EA places 10 trades and then never trades again...I couldnt get it to place another trade.
Nothing is hard, some things just take more time and discipline.
  • #122
  • Jul 6, 2007 9:46am Jul 6, 2007 9:46am
Thanks Uli Appreciate it

Nicvos
  • #123
  • Aug 27, 2007 7:54pm Aug 27, 2007 7:54pm
Hi

is anyone else forward testing this?
Anyone consistently making 5 pips every day?
  • #124
  • Sep 9, 2007 6:48pm Sep 9, 2007 6:48pm
This system sounds great, and I would like to try it on a live account, but how do you trade this without your small stop loss settings being stop hunted all the time? InterbankFX seems to always wipe out my stops when price gets within 5-10 pips of my stop settings?
Jennifer
  • #125
  • Jan 30, 2008 7:45am Jan 30, 2008 7:45am
Jen,
Did you ever have any luck with your stops at Interbank? I'm having the same problem. It seems as though I really cant use stop losses with the hunters at their desk actively seeking out my loss limits..even if stops are 10+ pips off the market! I've resorted to relying on watching the trades rather than using the stop loss and am currently looking for another broker. Any suggestions?
  • #126
  • Mar 11, 2008 3:20am Mar 11, 2008 3:20am
I was wondering is anyone still testing/using this method. What results/conclusions have you came up with. Yes, I am guilty of trying to revive a dead thread. But this is a system I still use, and would like to help other have the sucess I have had with it. I also have other systems that I would love to share, but am wondering the popularity of this one still...
Nothing is hard, some things just take more time and discipline.
  • #127
  • Edited 8:18am Mar 12, 2008 8:17am | Edited 8:18am
Hey,

I just found this thread and like it a lot. I'm keen on this type of strategy. I'll give it a try on demo.

The only thing I have doubts about is the entry (I don't question yours, but I'd like to find 'my own' for some reason) . Maybe if one has more screen-time one could enter the market in a discretionary manner.

Other strategies are very welcome !

I think you did a great job with this strategy.

Yvan
  • #128
  • Mar 12, 2008 10:14am Mar 12, 2008 10:14am
Nip,

I got a reminder from FF that there was a new mail for this thread. I found that I had once gone through it, without testing it. Since you now say that it's profitable for you I 'm going to give it a try this time.

Anyway thanks. What other systems do you use?

herty
  • #129
  • Mar 12, 2008 10:55am Mar 12, 2008 10:55am
Quoting herty
Nip,

I got a reminder from FF that there was a new mail for this thread. I found that I had once gone through it, without testing it. Since you now say that it's profitable for you I 'm going to give it a try this time.

Anyway thanks. What other systems do you use?

herty
LOL, it has always been profitable...hence why I presented it. Other than that I have a couple of other systems I developed that I use at once. I am also testing one that takes advantage of the daily interest+movement. I am considering sharing the other two systems which I like greatly and if this one turns out to be great Ill add it. No I am not a system hopper (even though I do like to gain information from other peoples ideas/systems) but I like to have an "arsenal" to attack for whatever time. Depending on if I can revive this thread from the dead (lol) and a chat with my trading buddy, I might share my other 2 systems. Thanks for your kind words

Feel free to post ideas of improvement/questions etc.
Nothing is hard, some things just take more time and discipline.
  • #130
  • Mar 12, 2008 10:58am Mar 12, 2008 10:58am
Quoting docnavy
Hey,

I just found this thread and like it a lot. I'm keen on this type of strategy. I'll give it a try on demo.

The only thing I have doubts about is the entry (I don't question yours, but I'd like to find 'my own' for some reason) . Maybe if one has more screen-time one could enter the market in a discretionary manner.

Other strategies are very welcome !

I think you did a great job with this strategy.

Yvan
What about the entry are you concerned about. That way I can give you my thoughts in it (it is possible I already tested it). One thing that I didnt add in this document (because I started testing it more intensely after the previous life of this thread) is increasing the stop as the TP increase (instead of keeping the stop solid). I would like to give that a try to...and will write up instructions later on if you are interested.

Basically everytime the TP increase you increase the SL by half of the TP. This can get dangerous though, so I would want to test it much more longer.

But back to original topic, I am interested in what you were saying about the entry...
Nothing is hard, some things just take more time and discipline.
  • #131
  • Mar 12, 2008 11:05am Mar 12, 2008 11:05am
I've tested and traded a variation of this method for a while now. I was obsessed with martingale type strategies for a long time

This "Nip the Pips" strategy on its own isn't really all that feasible for a few reasons.
The strategy works on the idea that the market will eventually break out of a tight range... it can't stay in that tight range for ever can it?
So now that we know for a fact that the market is eventually going to move this strategy should work right? We could just keep increasing our TP and the market will eventually start moving up or down.

BUT there is a flaw here... What I've found is that, sure, the market starts moving as expected after a handful of bounces, but sometimes the TP is pushed so far out that the market will move and then come back to the previous level and start triggering more progressions until your TP is pushed sooo far out it becomes silly.

Also, when you start factoring spread into your calculations the system starts to look less appealing.
  • #132
  • Mar 12, 2008 11:23am Mar 12, 2008 11:23am
Quoting djmetric
I've tested and traded a variation of this method for a while now. I was obsessed with martingale type strategies for a long time

This "Nip the Pips" strategy on its own isn't really all that feasible for a few reasons.
The strategy works on the idea that the market will eventually break out of a tight range... it can't stay in that tight range for ever can it?
So now that we know for a fact that the market is eventually going to move this strategy should work right? We could just keep increasing our TP and the market will eventually start moving up or down.

BUT there is a flaw here... What I've found is that, sure, the market starts moving as expected after a handful of bounces, but sometimes the TP is pushed so far out that the market will move and then come back to the previous level and start triggering more progressions until your TP is pushed sooo far out it becomes silly.

Also, when you start factoring spread into your calculations the system starts to look less appealing.

My friend, I agree...spread does add "trouble to the system." What I would recommend (if you dont like trading brokers who offer lower spreads) is trading pairs with low spread. Also about the TP being pushed too far out...why dont you find a pair/time of the day when it is active...or when a pair appears to be approaching a breakout...using your own analysis one can determine this. Plus because of the initial low take profit amount, looking for a 50-80 pip breakout on lets say GBPUSD is not that "silly"

Also this system does not "depend" on ranges...infact it shows its best colors in a trending market (less bounces, greater opportunity for larger profit etc)...it just adds the ability to trade ranges (just in case you get stuck in one) If you don't want to deal with the dangers of bounces or whatever in ranges, find a pair that has a defined trend (or use your own analysis) and trade that.

I have yet to find a system that wins 100% of the time (even though I am testing one that is profitable close to that percent of the time..no that doesnt mean win all the time, but you always end your day in profit)...so you can expect losses. So I would expect losses or burn outs with this system...I wanted this thread to help to develop ways to avoid burn outs...the more heads the better...so, instead of calling it silly...what are ways it can be improved?


Yes I was defensive, you attacked one of my babies...one that I know works. I apologize if i was offensive.

-Nip
Nothing is hard, some things just take more time and discipline.
  • #133
  • Mar 12, 2008 11:44am Mar 12, 2008 11:44am
Thanks for your reply, Nip. Do keep us updated, plus the other gems you have.http://www.forexfactory.com/images/icons/dollar.gifhttp://www.forexfactory.com/images/icons/pound.gifhttp://www.forexfactory.com/images/icons/euro.gifhttp://www.forexfactory.com/images/icons/yen.gif

Herty
  • #134
  • Apr 4, 2008 3:02pm Apr 4, 2008 3:02pm
Anyone still reading this thread?
Attached Image
  • #135
  • Jul 2, 2008 9:52am Jul 2, 2008 9:52am
Reading or posting
I just read all of it. Interesting suggestions. When I manage to have some free time I will do some testing but I have been thinking about pretty much the same and then I found this thread reflecting most of the things I wanted. Interesting! Hats down to NipThePips!
  • #136
  • Last Post: Apr 5, 2012 2:19pm Apr 5, 2012 2:19pm
10 or 15 pips, and then you martingale!!!

Crap!
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