I've been trading this system for past couple of weeks. I don't enter at market price. I drop down to 1HR timeframe and set a limit at previous S/R. I get a better entry and better R:R.
I've been trading this system for past couple of weeks. I don't enter at market price. I drop down to 1HR timeframe and set a limit at previous S/R. I get a better entry and better R:R.
What are your results please its good to inc every thing into the melting pot
cheers
Paulus
Ignored
Results have been good so far. My only losses were AUS/USD and NZD/USD from a couple of days ago. I haven't taken all signals. Only the ones I feel comfortable with. I do scale out of my trades and move stops down a little. Not to breakeven but to newly established S/R levels. Last night I placed entry orders for AUS/USD at 0.6830 and NZD/USD at 0.6000. If you look at you 1HR chart those levels were right around resistance levels. I got filled and so far in profit. Of course I risk not getting filled at all but I'm willing to live with it.
ok get yer hankies out if I open a position I take 5% of my bank another position arises I take 5% of the remaining bank etc etc..hence I'm very stretched but positions in profit help with the margin
Its not ideal but I could invest 5% on Monday into 1 position and then 4 positions at 5% each on tues.. On Monday I didnt know about the Tuesday trades so wouldn't of gone down as low as 1 % on the position on Monday......
with a larger bank I would reduce my initial exposure to 2 or 3 % per signal of the bank at that time
short EURUSD 1.2918 tgt 439 pips Long USDCHF 1.1378 tgt 243 pips Result = closed +243 pips
Oct 31st
short GBPUSD at 1.61300 tp 535 pips Result = closed +535 pips
short AUDUSD at 0.66570 tp 337 closed sl hit -245 Long USDCAD at 1.20310 tp 429 pips closed sl hit -100 Short EURJPY at 125.715 tp 719pips
Short GBPJPY at 158.855 tp 955 pips
1st Nov
short GBPCHF ( red doji) at 1.86100 tp 445 pips
5th Nov
Short USDJPY at 98.880 tp 208 pips Short AUDUSD at 0.69236 tp 272 pips Result = closed + 272 pips Long USDCAD at 1.16264 tp 358 pips Result = closed +358 pips
Short EURCHF at 1.50745 tp 256 pips
Long EURAUD at 1.87240 tp 577 pips Short CADCHF at 0.99755 tp 346 pips
I am testing the system and this looks very promising.
Are you using the EOD indicator provided in the forum? I have noticed that some of the entries do not respect your rules, (for e.g. Stochastics not being at the rigth levels).
Also yesterday I got around 9 signals that I took in demo, checking today almost all are in profit.
I will need to dedicate a bit more time to backtest but I am very happy with the initial tests, are you using the system since long time?
Quick update USDJPY was just 8 pips from its 208 pips target....
Oct 30th
short EURUSD 1.2918 tgt 439 pips Long USDCHF 1.1378 tgt 243 pips Result = closed +243 pips
Oct 31st
short GBPUSD at 1.61300 tp 535 pips Result = closed +535 pips
short AUDUSD at 0.66570 tp 337 closed sl hit -245 Long USDCAD at 1.20310 tp 429 pips closed sl hit -100 Short EURJPY at 125.715 tp 719pips
Short GBPJPY at 158.855 tp 955 pips
1st Nov
short GBPCHF ( red doji) at 1.86100 tp 445 pips
5th Nov
Short USDJPY at 98.880 tp 208 pips Short AUDUSD at 0.69236 tp 272 pips Result = closed + 272 pips Long USDCAD at 1.16264 tp 358 pips Result = closed +358 pips
Short EURCHF at 1.50745 tp 256 pips Long EURAUD at 1.87240 tp 577 pips Result = closed +577 pips Short CADCHF at 0.99755 tp 346 pips
Short USDJPY at 98.880 tp 208 pips Short AUDUSD at 0.69236 tp 272 pips Result = closed + 272 pips Long USDCAD at 1.16264 tp 358 pips Result = closed +358 pips
Short EURCHF at 1.50745 tp 256 pips Long EURAUD at 1.87240 tp 577 pips Result = closed +577 pips Short CADCHF at 0.99755 tp 346 pips
Paulus
Ignored
There is different between in @ 9:00 and in @ EOD
Short AUD/USD @ 0.6768
Long EUR/AUD @ 1.9087
In your posts you mentioned positioned closed, are you trailing the position with 50% of the position or are you closing all of the position? Can you clarify please...
Also, I agree with the other posts that it would be useful and crucial to post your SL, as without posting this it is difficult to decide if overall you will come out on top.
Let me explain: If you lose say 4 trades and your max risk is 5% that = 20% drawdown. You might win 4 trades following that and make 600-800 pips, but that does not really mean that you will come out on top. It depends on what percentage 600-800 pips is of your account, compared to what your risk is.
In theory the 600-800 pips might only be 5%-10% in total which means that you would be -10% down of negative equity.
This really needs to be fully explained, so we can see the potential for your system.
I can see that your system wins more than it loses, which is great but I am trying to work out how profitable your system will be over time if that makes sense.
Can you please clarify this for all of us as I know many of us would like to better understand this.
My first trades of the system. Around 5 PM MST on the 5th I put on these trades:
Sell EUR/CHF at 1.4979 with at tp of 252, closed -30
Sell AUD/USD at .6776 with tp of 194, closed +194
Sell AUD/JPY at 66.45 with tp of 267, closed +267
After hitting two tp's and having the third trade at -30 and not seeming to want to go in my direction I closed it.
Hi qwer 2004 re read your post dont understand the question sorry I call it an eod of day system because it uses eod data but for me to trade on the days end would mean me trading at midnight I there fore have chosen 9pm as my ideal trading time as its social for family life and Im still awake enough to hit the right keys on the key board..lols
Ideal you want to be as close as you can to the end of the day Im 18 hours into the day when I place trades at 9pm and thats good enough..
Hope that was an answer to the question
Rocroy and others if you use MT4 Dezil wrote an indicator for this system and I will inc it here just put it in your ind folder in MT4 and load it as a normal ind..you will see the arrows indicating a signal plus a red or blue dot.
In the event of a short you will see a red dot my stop will be 10 pips above that and visa vers for long have inc a screen shot of an open position
Law
Im closing all the position atm as for the stop loss Im going to ask Dezil if as well as the dot he can put a price on the chart indicating the SL as swing high and low
Ibhales nice one but you opened very early but if it worked for you great you got some moentum on the day that was left
Tigre all my trades have been to rules and I am inc the indicator on this post could you tell me what signals you thought were wrong please on the original system that was posted 6months ago I used the high of the signal bar as my SL but realised that this was too tight and have now moved to swing high or low..all the results can be seen on that thread and I made over 6k pips using it I believe this will make more it uses exactly the same entry ruless
I think you missed these questions in your last reply apart from the bit about the dot and the SL:
In your posts you mentioned positioned closed, are you trailing the position with 50% of the position or are you closing all of the position? Can you clarify please...
Also, I agree with the other posts that it would be useful and crucial to post your SL, as without posting this it is difficult to decide if overall you will come out on top.
Let me explain: If you lose say 4 trades and your max risk is 5% that = 20% drawdown. You might win 4 trades following that and make 600-800 pips, but that does not really mean that you will come out on top. It depends on what percentage 600-800 pips is of your account, compared to what your risk is.
In theory the 600-800 pips might only be 5%-10% in total which means that you would be -10% down of negative equity.
This really needs to be fully explained, so we can see the potential for your system.
I can see that your system wins more than it loses, which is great but I am trying to work out how profitable your system will be over time if that makes sense.
Can you please clarify this for all of us as I know many of us would like to better understand this.
