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DOC Strategy - Set and Forget!

  • #61
  • Sep 24, 2008 12:33pm Sep 24, 2008 12:33pm
Quoting suwuming
Based on those trades posted, if the previous bar was up, he placed an up order. In a trend market, it certainly works, though the profit will limited due to tight profit target.

The problem is: most of the time profit/risk ratio was 1:5 even higher, i.e, you need to win 5 of 6 for break even. I am still curious how it survive during range market, such as GBPUSD in Oct 2007.

Cheers,
Simon
Simon, I learnt something people who are concerned the same way you do, won't make money in forex trading, there is no any strategy that wins all the time, the ratio of win, lose and no trade in trending and ranging days almost brought to me the same result, and for Oct 2007 the result was win=17, lose=5 for GBP/USD, the average of losing trades for each pair every month is 2-3, do you think that there is a strategy on earth that brings 100% profit all the time, never and we won't find it, coz if we find it we won't find people who clean WC's and others who sweap streets, I'm convinced with my strategy, maybe the SL is sometimes very high, but usually when SL is very high, it brings profit, most of the loses came when there is a small SL, coz as I mentioned SL is being placed on critical levels, I don't like strategies that place 30 pips or 50 pips fixed SL on any trade they enter, coz this is nonesense, and I ask myself based on what these 30 or 50 pips, SL from my point of view must be placed on levels that if reached or broken, that they will give reversal move, well if 30 and 50 pips meet this level, well there is no problem to place them, even if I place a 20 pips SL, but on the otherside my risk/ratio looks scary but I'm convinced with it
  • #62
  • Sep 24, 2008 1:19pm Sep 24, 2008 1:19pm
PINO2 I love your strategy, and would lov eto follow your posts. Please continure poosting be it in this thread or the Journal thread. Thanks
  • #63
  • Sep 24, 2008 1:29pm Sep 24, 2008 1:29pm
Quoting hantousha
PINO2 I love your strategy, and would lov eto follow your posts. Please continure poosting be it in this thread or the Journal thread. Thanks
Thanks hantousha, I will only post back on this thread coz of you guys, although I'm extremely disapointed.
  • #64
  • Sep 24, 2008 2:09pm Sep 24, 2008 2:09pm
Yes, thanks for continuing to post!
Life is too short to have anything but delusional notions about yourself.
  • #65
  • Sep 24, 2008 2:18pm Sep 24, 2008 2:18pm
PINO2 we are waiting your post here.. let us learn from your experince..
Never sell @ lower upward channel unless breacked and vise versa .
  • #66
  • Sep 24, 2008 2:29pm Sep 24, 2008 2:29pm
Quoting FX boxer
Ok, thats fair. I have one big forum (its not about FX), every forum have rules, if ten people open topic, in this chase topic about systems without system in topic, topic must be locket or move in right forum.

You have great results, and everybody is interest in your system, thats normal

Im professional trader, and I have my system too (my system bring me less pips then your...), I will open theard about it when I wrote it. For now its in my head

best regards
Wish your system to bring more pips than mine
  • #67
  • Sep 24, 2008 2:35pm Sep 24, 2008 2:35pm
Quoting WedWed
PINO2 we are waiting your post here.. let us learn from your experince..
Thanks WedWed, we all learn from each other, I have received too many private messages today asking me to post back, so I'd like to thank each and everyone for this trust.
  • #68
  • Sep 24, 2008 2:51pm Sep 24, 2008 2:51pm
Well let us go back to trades update

Open Positions for 24th of September 2008:

GBP/JPY
No trade for today again

EUR/JPY
SELL @ 155.00 TP: 154.50 SL: 156.27 (Still running)
BUY @ 155.81 TP: 156.38 SL: 153.79 (Running since yesterday)

GBP/USD
No trade for today

EUR/USD
SELL ORDER@ 1.4700 TP: 1.4650 SL: 1.4824 was cancelled as I mentioned in a previous post, I missed this trade it was a clear one

Market is choppy today, prices are moving very slowly with no direction in all pairs, as if the pairs are moving first inside their shoes before stepping forward or backward, one of the bad days in trading, will see what will the coming hours bring us
  • #69
  • Sep 24, 2008 4:13pm Sep 24, 2008 4:13pm
Open Positions for 25th of September 2008:

GBP/JPY
BUY @ 195.91 TP: 196.41 SL: 194.90

EUR/JPY
BUY @ 155.12 TP: 155.62 SL: 153.79
SELL @ 155.00 TP: 154.50 SL: 156.27 (Still running)
BUY @ 155.81 TP: 156.38 SL: 153.79 (Still running)

GBP/USD
SELL @ 1.8465 TP: 1.8412 SL: 1.8606

EUR/USD
SELL @ 1.4622 TP: 1.4569 SL: 1.4745
  • #70
  • Sep 24, 2008 4:48pm Sep 24, 2008 4:48pm
Pino,
I really like your system (especially your results) I am having trouble with the size of the SL though, I am trading a couple of your picks live right now (MICRO lots ($.10 a pip)) as your entries agree with the pb's showing on both Cable and Euro/USD.

I wish us both much success!!!
  • #71
  • Sep 24, 2008 5:09pm Sep 24, 2008 5:09pm
Quoting Jimbop
Pino,
I really like your system (especially your results) I am having trouble with the size of the SL though, I am trading a couple of your picks live right now (MICRO lots ($.10 a pip)) as your entries agree with the pb's showing on both Cable and Euro/USD.

I wish us both much success!!!
I wish you success, yes you are right regarding the SL, sometimes it's very high but I've explained why, on the otherside I'm working on this issue now.
  • #72
  • Edited Sep 25, 2008 1:50am Sep 24, 2008 7:02pm | Edited Sep 25, 2008 1:50am
Pairs Update (for 25th of September 2008)
GBP/JPY:
WIN: 1
LOSE: 0
Total Pips: 50

EUR/JPY: (Still running) 2 open trades
WIN: 1
LOSE: 0
Total Pips: 50

GBP/USD: (Still running)
WIN: 0
LOSE: 1
Total Pips: -141

EUR/USD:
WIN: 0
LOSE: 1
Total Pips: -123
  • #73
  • Sep 24, 2008 8:54pm Sep 24, 2008 8:54pm
EUR/USD is about to hit it's SL, thank you Mr. Bush
  • #74
  • Sep 24, 2008 9:08pm Sep 24, 2008 9:08pm
Come on euro you can do it! push it back down down down.
  • #75
  • Sep 24, 2008 9:19pm Sep 24, 2008 9:19pm
GBP/USD & EUR/USD are heading south ... safe now?
  • #76
  • Sep 24, 2008 11:30pm Sep 24, 2008 11:30pm
it is getting stuck at the .4700 level. Does anyone know if it will push back down? will the announcements help push it down?
  • #77
  • Edited 9:33am Sep 25, 2008 1:56am | Edited 9:33am
Pairs Update (for 25th of September 2008)
GBP/JPY:
WIN: 1
LOSE: 0
Total Pips: 50

EUR/JPY: (Still running) 1 open trade
WIN: 1
LOSE: 1
Total Pips: -77

GBP/USD:
WIN: 0
LOSE: 1
Total Pips: -141

EUR/USD:
WIN: 0
LOSE: 1
Total Pips: -123

Total pips for 25th of September 2008: -241

Total pips last week (Tuesday, 16th to Friday, 19th 2008): 741 pips
Total pips since 16th of September 2008: 983 pips
Total pips this month (September 2008): 983 pips

Note: there was no trading on the 17th.

Pairs Update (from 16th to 25th of September 2008)
GBP/JPY:
WIN: 5
LOSE: 0
Total Pips: 446

EUR/JPY:
WIN: 5
LOSE: 1
Total Pips: 354

GBP/USD:
WIN: 4
LOSE: 2
Total Pips: 83

EUR/USD:
WIN: 4
LOSE: 2
Total Pips: 100

Total pips for all pairs = 983 pips (still 1 open trade running)
  • #78
  • Sep 25, 2008 10:40am Sep 25, 2008 10:40am
It seems like the GBP/JPY and the EUR/JPY do better than the other two overall. Why is that? My focus has been on the EUR/USD but with this system that pair doesn't do the best. Is there any way to tweak this system or use another one that is great for EUR/USD. I usually trade for short amounts of time.
  • #79
  • Sep 25, 2008 1:16pm Sep 25, 2008 1:16pm
Big loss, but this was my fault, I wanted to try placing lower SL, so it was easily hit, I've learnt from my mistake, either to place the correct SL without lowering it as I did today or not trade and not to be affected by other people's thoughts, coz this will be a break to my strategy, I'm convinced from what happened today coz I learnt from it.

Yes GBP/JPY has the best result among the other pairs.
  • #80
  • Sep 25, 2008 4:19pm Sep 25, 2008 4:19pm
Open Positions for 26th of September 2008:

GBP/JPY
No trade for today again

EUR/JPY
PENDING BUY ORDER @ 155.00 TP 156.14 SL 153.79
BUY @ 155.81 TP: 156.38 SL: 153.79 (Still running)

GBP/USD
PENDING SELL ORDER @ 1.8450 TP: 1.8320 SL: 1.8670

EUR/USD
PENDING SELL ORDER @ 1.4680 TP: 1.4556 SL: 1.4824

PENDING ORDER TO BE CANCELLED IF TARGET IS REACHED BEFORE IT IS TRIGGERED.
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