Simplicity is the Key | Page 33 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Simplicity is the ultimate form of sophistication ( Elite ) 866 replies

Why are we afraid of simplicity? 96 replies

Simplicity is the key to brilliance 36 replies

Signals for Simplicity 1,144 replies

The Journal of Simplicity Trade 12 replies

Attachments: Simplicity is the Key
Exit Attachments

Simplicity is the Key

  • #641
  • Feb 19, 2007 5:30pm Feb 19, 2007 5:30pm
Trade #12
Buy USD/CAD@ 1.1649
SL@ 1.1624
TP --TBA
  • #642
  • Feb 19, 2007 6:19pm Feb 19, 2007 6:19pm
Quoting trader101
... Remember I maybe wrong but if iam right you are going to thank me for this.
if my grandma had balls she would be my grandpa.

good luck to you by the way, im glad to see you stick it out and give it the testing it deserves.

If I may add something - it is important to keep all your details straight - eventually when you analyze, you will want to see performance for all pairs and make sure as a whole that it works. The danger in setting up any mechanical system for only 1 pair and its current characteristics is that they will eventually change to those characteristics of the pairs that fail. By the time you can say its performance is abnormal...well you will have experienced adverse abnormal performance. Anyway, I am glad that you aren~t keeping soloely to EURUSD as originally planned, a very smart move for testing the system.

Also, try to keep tabs on the levels of your "ducks". Eventually you would want to quantify what each duck has to offer and how performance is affected by any one duck.

All of this is just a couple of suggestions(which you may be doing already) - and in no way is it meant to judge you or your system - good luck with your duck hunting.
Man who scratches ass should not bite fingernails
  • #643
  • Feb 19, 2007 6:39pm Feb 19, 2007 6:39pm
Quoting Leugimp
if my grandma had balls she would be my grandpa.

good luck to you by the way, im glad to see you stick it out and give it the testing it deserves.

If I may add something - it is important to keep all your details straight - eventually when you analyze, you will want to see performance for all pairs and make sure as a whole that it works. The danger in setting up any mechanical system for only 1 pair and its current characteristics is that they will eventually change to those characteristics of the pairs that fail. By the time you can say its performance is abnormal...well you will have experienced adverse abnormal performance. Anyway, I am glad that you aren~t keeping soloely to EURUSD as originally planned, a very smart move for testing the system.

Also, try to keep tabs on the levels of your "ducks". Eventually you would want to quantify what each duck has to offer and how performance is affected by any one duck.

All of this is just a couple of suggestions(which you may be doing already) - and in no way is it meant to judge you or your system - good luck with your duck hunting.
Thank you for the advice ..sir.. Its always a pleasure hearing it from a more experienced trader.
Regards
  • #644
  • Feb 19, 2007 6:44pm Feb 19, 2007 6:44pm
Quoting trader101
Thank you for the advice ..sir.. Its always a pleasure hearing it from a more experienced trader.
Regards

everyone else gets bro, and I get the old sir! cīmon man Im only 30.
Man who scratches ass should not bite fingernails
  • #645
  • Feb 19, 2007 6:45pm Feb 19, 2007 6:45pm
Trade #13
Sell GBP/USD@ 1.9500
SL@ 1.9530
TP --TBA
  • #646
  • Feb 19, 2007 6:46pm Feb 19, 2007 6:46pm
Quoting Leugimp
everyone else gets bro, and I get the old sir! cīmon man Im only 30.
Im sorry, bro ..
Keep dropping by...
  • #647
  • Feb 19, 2007 9:11pm Feb 19, 2007 9:11pm
I just lost Trade #13 --Lost -30 pips

The market is just crazy, one minute it is short the next minute it is long, i think we just totally avoid the market until tommorrow and hope that it stabilizes by then.

Close Trade #12 --=Lost -9 pips
  • #648
  • Feb 19, 2007 9:18pm Feb 19, 2007 9:18pm
UPDATE FOR THIS WEEK
CLOSED TRADES 1 lot trades
Trade #1 Closed Gain +45 (in pips)
Trade #2 Closed Gain +10
Trade #3 Closed Gain +7
Trade #4 Closed Loss -4
Trade #5 Closed Loss -30
Trade #6 Closed Loss -7
Trade #7 Closed Gain +5
Trade #8 Closed Loss -25
Trade #9 Closed Gain +52
Trade #10Closed Loss -18
Trade #11Closed Loss -10
Trade #12Closed Loss -30
Trade #13Closed Loss -9

---------------------------
NET P/L(this week) - 14
---------------------------
NET P/L(last week) + 56
---------------------------
NET P/L(WE 2-9-07)+ 187
---------------------------
NET P/L(WE 2-2-07)+ 108
---------------------------


OPEN TRADES
NONE
  • #649
  • Feb 19, 2007 9:19pm Feb 19, 2007 9:19pm
Quoting trader101
I just lost Trade #13 --Lost -30 pips

The market is just crazy, one minute it is short the next minute it is long, i think we just totally avoid the market until tommorrow and hope that it stabilizes by then.

Close Trade #12 --=Lost -9 pips
Welcome to Stopfest 2007. Yeah you should avoid this market.
  • #650
  • Feb 19, 2007 11:36pm Feb 19, 2007 11:36pm
Quoting Darkstar
Welcome to Stopfest 2007. Yeah you should avoid this market.

It looks like only Japan is open right now.

I have a couple of positions open, but I enjoy torturing myself.
Is your SL my TP?
  • #651
  • Feb 20, 2007 2:45am Feb 20, 2007 2:45am
Trade #14
Buy GBP/USD@ 1.9489
SL@ 1.9464
TP --TBA
  • #652
  • Feb 20, 2007 2:58am Feb 20, 2007 2:58am
Closed Trade #14
Gain = 2

Signal is Reversing
  • #653
  • Feb 20, 2007 3:05am Feb 20, 2007 3:05am
Trade #15
Sell GBP/USD@ 1.9487
SL@ 1.9512
TP --TBA
  • #654
  • Feb 20, 2007 3:27am Feb 20, 2007 3:27am
Trade #16
Buy USD/JPY@ 120.05
SL@ 119.80
TP --TBA
  • #655
  • Feb 20, 2007 3:37am Feb 20, 2007 3:37am
Stop Loss
Trade #15
Loss -25
Not doing good right now..
  • #656
  • Feb 20, 2007 3:41am Feb 20, 2007 3:41am
UPDATE FOR THIS WEEK
CLOSED TRADES 1 lot trades
Trade #1 Closed Gain +45 (in pips)
Trade #2 Closed Gain +10
Trade #3 Closed Gain +7
Trade #4 Closed Loss -4
Trade #5 Closed Loss -30
Trade #6 Closed Loss -7
Trade #7 Closed Gain +5
Trade #8 Closed Loss -25
Trade #9 Closed Gain +52
Trade #10Closed Loss -18
Trade #11Closed Loss -10
Trade #12Closed Loss -30
Trade #13Closed Loss -9
Trade #14Closed Gain +2
Trade #15Closed Loss -25

---------------------------
NET P/L(this week) - 37
---------------------------
NET P/L(last week) + 56
---------------------------
NET P/L(WE 2-9-07)+ 187
---------------------------
NET P/L(WE 2-2-07)+ 108
---------------------------


OPEN TRADES
Trade #16 B-USD/JPY Currently -7
  • #657
  • Feb 20, 2007 3:58am Feb 20, 2007 3:58am
Increase SL by 5. I dont want to loss this trade because of minimum SL. This trade has the strongest signal for this week.

Trade #16
Buy USD/JPY@ 120.05
SL@ 119.75
TP --TBA
  • #658
  • Feb 20, 2007 3:59am Feb 20, 2007 3:59am
Hey Bro, hope you don't mind my saying- you obviously have a decent trading method- but a couple of things you might consider- first, as Darkstar said, the Asian chop-chop session isn't the best place to test a system. The other thing would be, to consider exiting your positions just before news releases- or not entering them at all if the release is within a couple of hours. I know people say they backtest their systems and they show to have success in spite of news- but I'm finding the longer that I trade that the news does make a difference- more than a few times have I been stopped out of decent trades because of them. So anymore, if I'm in profit just before newstime I exit- you can never go wrong by banking profits- there will always be another entry.

Just some thoughts.

Quoting trader101
Stop Loss
Trade #15
Loss -25
Not doing good right now..
Is your SL my TP?
  • #659
  • Feb 20, 2007 4:09am Feb 20, 2007 4:09am
Quoting trader101
Increase SL by 5. I dont want to loss this trade because of minimum SL. This trade has the strongest signal for this week.

Trade #16
Buy USD/JPY@ 120.05
SL@ 119.75
TP --TBA
Stick it out brother, you should see 120.25 before the options cut. If it gets to 80 its probably dead though...
  • #660
  • Feb 20, 2007 4:10am Feb 20, 2007 4:10am
Quoting kenmania
Hey Bro, hope you don't mind my saying- you obviously have a decent trading method- but a couple of things you might consider- first, as Darkstar said, the Asian chop-chop session isn't the best place to test a system. The other thing would be, to consider exiting your positions just before news releases- or not entering them at all if the release is within a couple of hours. I know people say they backtest their systems and they show to have success in spite of news- but I'm finding the longer that I trade that the news does make a difference- more than a few times have I been stopped out of decent trades because of them. So anymore, if I'm in profit just before newstime I exit- you can never go wrong by banking profits- there will always be another entry.

Just some thoughts.
Thanks.. Ken
I was not expecting that the 4:30 GBP news will have a great impact on the trade so i put in as my signal shows. I did underestimate the impact of that. Hope you did not trade that with me. See now, The SELL is coming back as the program calls it.
0 traders viewing now