Super Carry Trade Trading System

I think you're right... It's always better to trade with the market, than against it!!! A simple and effective approach is to follow the trend and jump in on pull-backs. However, be ready to close out the trade within 50 - 100 pips if the pull-backs seem to be developing into a trend in the opposite direction (news events will help to substantiate a trend reversal as well).

Walt

Yes 7 out of 8 accounts have now margined out. Only EURUSD up with 85% DD.

I'm not saying this to brag, but since I left this method I've experienced the best performance in my FOREX trading thus far, using a few simple breakout systems.

The key is working on yourself--knowing your system(s) (variance in returns and drawdown vs. risk) and working on your discipline with placing trades each and every time with stop losses and with consistent money management.

Happy Trading,

Glen

It's amazing how much my perception of these markets, as well as my respect for them, and fear of them, has improved since I've discovered this system.. and followed along on this thread.

Though I followed the thread, and cheered everyone's progress, and helplessly watched everyone's demise during the un-wind, I 'm glad that I took the time.And I'm a better trader for it by FAR.

Well, I too got blown-up. Just like everyone else. But I took what I learned, a bit of determination, a LOT of stubborness, and the ability to THINK about the markets, not the charts...the markets, which I learned from this thread, and I've developed a sort-of variation on this method. Sort-of.
It's price action driven. So far in testing, it's extremely profitable. Weathered last week's melt-down just fine....not without a little trepedation, but we made it.

Anyway....for my friends on this thread... as well as my friends on FF...I'm forward testing in demo as I type. 2 weeks down & going forward. Target for live is mid-January sometime.

I'm in the process of writing the specific instructions, methodology, and thought process behind each of my actions. This might take some time. Maybe I'll send it out in sections. But, at any rate, it needs to be readable & reasonably understandable.....which it ain't, yet.

I'd love to share. My pay back for the education I got here this past spring & summer. I'd love some help for refinement.

So far, I'm up 6000+ pips, with open position of -440 pips & account equity of +5531 pips.....on 5 pairs only (both long side as well as short) & 1 position only per pair. Max DD last week was -2700 (un-wind). Usually around -1100 or less up to around -1600. We'll see what testing brings. Not increasing lot size as of yet. Need a reliable baseline for growth.

I think I've got a winner here.

It's 100% money management. The market can do whatever it wants. This method reacts to what the market DID, not tries to guess what it MIGHT, but probably WON'T do.

Anyone interested, you're more than welcome.

Let me know.

Peter O

Hi Glen,

Which breakout systems are you using?

Thanks,
Bob in Wisconsin

Hey Bob,

Sent you a PM.

Regards,

Glen

Did anyone survive using this system so far ???

Hi Schminner,

I think no-one survived.
The draw-down during the Sept.-Oct. unwind wiped-out everyone's account.

I know of some who went live with this. Man, I hope no-body got hurt too badly. You had to throw a ton of $$$ to reduce negative position, but eventually came back bigger & better...& richer!. Till now.

In the begining, last spring & through the summer, this method was a profit machine, and I could see the temptation to go live prematurely - you couldn't FORCE this method to lose money, but this particular method couldn't keep up with the free-fall the markets were taking.

I'm still a believer in the core fundamentals of this. I've been testing various methods to try to mitigate draw-down. We'll see. Time will tell.

Good Luck

Peter O

In Aphids EA, what does the Delta setting do?

I think we might now have a good time to start carry trading again. I stopped carrying as the AUD/JPY was around 95 somewhen in spring 08.

But now after that heavy drop of 40% I'll reactivate my carry grid again.

Why not to close it when you are in time?
I think one should be ready to accept losses... money management shall be added to this system.
Havent you learn yet that without a hard stoploss you are going end up dead sooner or later???

would be interesting to see if this method can succeed if traded with 10 billion $ account....

This strategy looks very promising and it needs little work. I got the part with placing the orders above the entry but i am still in doubt what should i do if market makes a huge move agains me. Lets say i enter long usd/jpy at 90.00
i place orders all the way up to 94.00 . I get away from my PC and when i come back 4hrs or so later i see the market is now at 88.00. Wow now i am in a very bad position. What should i do can you please explain me in details. Thanks!

Any fresh ideas on this one ???

I imagine that the absolute last thing you want to do is trade this system in the current market

never say die , never surrender .

Seems not to be very active this thread anymore, nevertheless i recently found this system and since i like technical system i tried to understand it.

so maybe someone is still answering me ..

as i understood the long strategy buys everey 10 pip 1 contract with tp 10 pips, that means in avg. you are going to be long 2 contracts in uptrending market. so what's the difference if you simply buy the first @market, the second you buy @+10pips and thats it ... i don't see any difference exept your broker isn't that happy because you're trading to littel ... or am i missing smth?

Hello Dreamliner.

I find your system simple and very straight forward. I like it. However I do have three questions:

Why you go long only? If the trend is short you stay aside? Why?

Krom

Krom, because it was a carry trade system originally so you get positive interest all the day. Actually it was a simple grid based on the concept that the money will flow to currencies with higher interest rates. That did work some years but stopped during the financial meltdown.

hello can some one pls tell me how to use it, i used it to calculate but i dont know it's use. any help?