I spent the majority of the day reading through this thread and think I understand it mostly but want to make sure. There seem to be differing opinions on the proper way to trade this system.
Question 1:
Are new buy orders placed at a certain time of the day (give or take) or are they pre-set? For example, if it goes down 200 pips is another buy automatically triggered or do you just wait until the regular time that you check it to place another buy manually (it may have moved another 100 or more pips by then)?
No, there is no pre-set time to check them. You can check them once or twice a day whenever you want. Dreamliner checks them morning and evening as able. TimeFreedom has posted two versions of his Aphids EA (which is different from this system) which averages in at 3:00pm each day, if price is below a customizable amount.
Question 2:
How exactly is spread calculated with the grid of buy stops, placed every 10 pips PLUS spread (this would be 17 pips on Oanda approximately)?
According the original rules, the grid is placed every ten pips without concern for spread, which at OANDA, varies on average from 4.0 pips to 20 pips. Others have suggested good variations like you did in your queston.
Question 3:
Take profits on the grid are set to be filled when price hits a new buy order correct (the same pip)?
Yes, but as spread varies on OANDA, you often have two open trades.
Question 4:
When there are a few danglers, is it best to set TP on all positions at the current breakeven point, or average price? Or is it better to just wait until the days end to see where price is at that point?
Setting TP at breakeven seems to make more sense because otherwise you may miss a critical retrace that will save your margin, such as during the Aug 07 unwind.
It's up to you. I believe it is smart to set all the TPs to breakeven when there is a big unwind or when you have a lot of trades open.
Question 5:
Has a workable EA of this system been created with the bugs worked out?
Forgive me if my questions were already adressed and I missed them somehow while reading through the thread. I think this system shows a lot of promise but want to make sure I understand it before I start tediously forward testing it.
No, there is no EA yet for this exact system. TimeFreedom's Aphid EA is different than this strategy but profitable. Hayseed was working on some EAs which were profitable variations of this strategy but he hasn't posted those.
Thanks for the response. I guess there is no set in stone tried and true method for this system, everyone has their own slight variation. That is ok as long as the general theory of the system is consistently profitable. In the original thread on Oanda, it was profitable without the grid of buys and take profits, mostly from the swap alone and occasionally positions closed in the positive.
As far as the EA's go, I hope there will be one for live trading, that would be great. I have never successfully used and EA before (I know next to nothing about programming) but I will download the EA's here and see if I can figure out how to get them to work. It seemed from the posts that a lot of people were having trouble with them though.
That would be the ultimate way to trade wouldn't it? Let the computer do it for you and only monitor it!
I have been using the modified EA on a demo with alpari for the last month. I have modified all the TP's to take into account the spread, so my tp is 13 next trade at 20 pip intervals, using .5% per trade.
The EA labeled demo, opens 2 trades each day, instead of 1. Also, due to the movement of trading during the opening the trades are not evenly spaced, so i change them to meet my 13 tp and 20 pip intervals, I also delete all orders from the previous day after 23 hours, so as not to have overlaps when it makes it move north.
Also, don't shut the platform and reopen it during the hour you have set for placing orders, or it will place another set of order for that day.
I also, change the tp on any danglers, to about 10 pips above the average the EA calculates, then shut the platform until the next day, so if there is a move, it will still close the trades.
I have been using the modified EA on a demo with alpari for the last month. I have modified all the TP's to take into account the spread, so my tp is 13 next trade at 20 pip intervals, using .5% per trade.
The EA labeled demo, opens 2 trades each day, instead of 1. Also, due to the movement of trading during the opening the trades are not evenly spaced, so i change them to meet my 13 tp and 20 pip intervals, I also delete all orders from the previous day after 23 hours, so as not to have overlaps when it makes it move north.
Also, don't shut the platform and reopen it during the hour you have set for placing orders, or it will place another set of order for that day.
I also, change the tp on any danglers, to about 10 pips above the average the EA calculates, then shut the platform until the next day, so if there is a move, it will still close the trades.
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Can you give us an update on your results? I'm still trading this way and doing wonderfully, making about 200% per year.
Can you give us an update on your results? I'm still trading this way and doing wonderfully, making about 200% per year.
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Dreamliner,
Are you kidding... 200% per year!!! Considering the drawdown the gbpjpy experienced since December, this would be an absolutely phenomenal result.
Would you consider cutting your dangler losses at about 400 pips, then double up on the entry that occurs after a 400 pip drop? Hopefully, this makes sense...
Are you kidding... 200% per year!!! Considering the drawdown the gbpjpy experienced since December, this would be an absolutely phenomenal result.
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That's nothing. I've added AUD/USD and NZD/USD, same method, both of which are going to parity with the dollar, and that is adding another 400% per year, plus providing a nice "hedge" for the dropping GBP/JPY (which tends to travel with the DOW).
Would you consider cutting your dangler losses at about 400 pips, then double up on the entry that occurs after a 400 pip drop? Hopefully, this makes sense...
Walt
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No I don't, but that doesn't mean it isn't good, just that I'm happy trading this way.
Returns like that might make a 737 Capt move to an island somewhere. I damn sure it would make a controller call it quits. If you were trading on a $10000 acct what lot size would you use on all pairs?
Returns like that might make a 737 Capt move to an island somewhere. I damn sure it would make a controller call it quits. If you were trading on a $10000 acct what lot size would you use on all pairs?
Thanks
Mombone
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lol, agreed!
I don't ever mess with lot sizes, I just stick with Oanda's percentage allocation feature. Currently I have set to .05%. That way it automatically compounds as the balance goes up. Makes it real easy and keeps it real simple.
[quote=Dreamliner;1961926]That's nothing. I've added AUD/USD and NZD/USD, same method, both of which are going to parity with the dollar, and that is adding another 400% per year, plus providing a nice "hedge" for the dropping GBP/JPY (which tends to travel with the DOW).
Adding an additional 400% per year!!!!! Do you have any backtesting results over the course of the last few years?
Are you using .05% of NAV for each currency pair traded? Also, I'm assuming that the audusd and the nzdusd are not correlated to the gbpjpy or each other... Is that correct?
Correct me if I'm wrong, but I believe that you're trading these pairs manually, correct?
Why did this thread "die" so abruptly? Aren't others finding success with this system, even remotely similar to the numbers that Dreamliner is reporting?
Dreamliner... would you be willing to post your trade results for confirmation of your assertions? Perhaps that would spark more discussion.
Why did this thread "die" so abruptly? Aren't others finding success with this system, even remotely similar to the numbers that Dreamliner is reporting?
Dreamliner... would you be willing to post your trade results for confirmation of your assertions? Perhaps that would spark more discussion.
Thanks,
Walt
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No. I have nothing to prove, and do not have the time nor the inclination to post anything of my trades. All the rules are there, simply demo it for 3 months and see if you aren't up 20% or more.
My purpose is not to spark discussion, nor keep the thread going, but rather simply to share with people my system, put the rules clearly out there. That I have done, the rest is up to others.
That's nothing. I've added AUD/USD and NZD/USD, same method, both of which are going to parity with the dollar, and that is adding another 400% per year, plus providing a nice "hedge" for the dropping GBP/JPY (which tends to travel with the DOW).
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Mike,
I've also had similar returns using your system. Are you trading these additional pairs from the same account or from sub-accounts.
The word on the streets is a merger with United, huh?
Are you using the same system rules for the other pairs you mentioned?
Thanks,
Lcfx
Quote
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I've added AUD/USD and NZD/USD, same method, both of which are going to parity with the dollar, and that is adding another 400% per year, plus providing a nice "hedge" for the dropping GBP/JPY (which tends to travel with the DOW).
Are you using the same system rules for the other pairs you mentioned?
Thanks,
Lcfx
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Yes I am, though I am reconsidering the "take profit" engine (10 pips profit), as my sons account has grown at roughly the same rate as mine, but with less drawdown, just using the original rules without the take profits.
No doubt, and I hear they are talking furloughs at UAL as they are parking more planes...crazy. When will this end?
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It will end the same time that EUR/USD begins to go back down, the same time that GBP/JPY starts to go up, the same time America begins to climb out of the horrible debt-hole it has dug, the same time fuel prices come down, the same time the mortgage crisis is solved, and the same time the war in Iraq, and the upcoming war in Iran is ended.
We have serious problems in this country that have been building for decades, and though I am an optimist in life, I believe a serious recession is coming because America has been living WAY above its means for WAY too long.
It will end the same time that EUR/USD begins to go back down, the same time that GBP/JPY starts to go up, the same time America begins to climb out of the horrible debt-hole it has dug, the same time fuel prices come down, the same time the mortgage crisis is solved, and the same time the war in Iraq, and the upcoming war in Iran is ended.
We have serious problems in this country that have been building for decades, and though I am an optimist in life, I believe a serious recession is coming because America has been living WAY above its means for WAY too long.
Super Carry Trade Trading System
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