Balls Of Steel Method

I called my "BALLS OF STEEL METHOD" coz i dont trade (demo) with stops.

Timeframe:daily (candles or ohlc does not matter) and not counting sunday candles
Broker:Alpari (uk)
Pairs:eurusd,euryen,usdyen,chfyen,usdcad,gbpusd and gbpyen
Indicators:none

Setup Long....if 2 days in a row are up,buy @ the beginning of the 3rd day
and close @ end of the day

Setup short...if 2 days in a row are down,sell @ the beginning of the 3rd
day and close @ end of the day

If somebody could do a backtest for me i would be thankfull!
done some visual backtest from 1st of januari but wanna know if it is profitable in the long run

If there are any questions i will be happy to answer them!

here are my results from 01-01-08 until 13-03-08 (visualy done)

gbpusd:59 (12 trades)
usdyen:46 (11 trades)
eurusd:120 (11trades)
usdchf:75 (10 trades)
euryen:631 (10 trades)
usdcad:270 (12 trades)
gbpyen:1335 (10 trades)

i did not count pipspread in this calculation

This must be the most simple system I have ever seen. Someone should consider putting together an EA.

Thanks

i second that...the simplest of all systems, and the backtest results look good, although i don't trade the daily, the simplicity urges me too.....will try it next week...thanks Bro/Sis.

i wish i could make an EA but i dont know how....
i trade the daily coz i have also a dayjob

Hi hollandpippin,

Interesting system, I didn't understand though - do you close your trades either way - weather they're in profit or loss. And, do you use any TP or SL or just manually close it at the end of the day ?

And how are them back-testing results ?

Thanks

Nice and easy, got to like that.
Quick question though. What would you do if the day closes as a doji?
Where the closing price is the same as the opening price.
Just curious as that is not neither up or down.

ur right jurrasic

either way i close my trades @ the end of the day
and the result are witout pipspread counted
thank you

bambam if i was long i would close it and if i was short i would close it also

if the day before was up and the next day a doji.....nothing
if the day before was down and the next day is a doji ...nothing

there must be a difference in the close and open

thank you

audusd results from 01-01-08 untill 13-03-08
464 pips (11 trades) not counting spread

nzdusd results from 01-01-08 untill 13-03-08
419 pips (9 trades) not counting spread

do you count the sunday candle...considering it's only 1 hour until the next candle?

I was back testing and I would definitely NOT consider the sunday candle.

ur right criss i dont count the sunday candle coz even at alpari (uk) they dont have
i will edit my first post
Thank you

Very simple system.

Here's one pair test: Gbp/Jpy 5 Winning, 2 Losing

Hopefully everyone can see which text box goes with what

it did well also on AUDUSD +700-+800 since jan 1 '08

yeah criss and today also seems to be a good day for this method
positif are usdyen,eurusd,euryen,usdchf,gbpyen the only negetif today is gbpusd but you winn some and you lose some just have to wait untill end of day (alpari uk platform)

2days results

gbpusd:-123
usdyen:+162
eurusd:+63
euryen:+188
usdchf:+126
gbpyen:+453

total 2day:+869

no signals for usdcad,audusd,nzdusd

if we have a look at more pairs, it's easy to notice that this system doesn't work .... the net profit for the last 3 years is around zero

it depends too much on your LUCK -- if u catch a strong trend, u have good profit, and one correction could blow the whole trend-profit in one day, as corrections in strong trends are deep and fast.

could be but im not looking at longterm trends....
but thanks for your input