teb
- #23
- Dec 20, 2008 9:06pm Dec 20, 2008 9:06pm
- Joined Jan 2007 | Status: Trader | 5,864 Posts
Ok for all the new people to the forex
do yourself a favour and don't even wast your time on 99%
of what is on this forum or any other for that matter.
most of what you see are people losing money!
let me be clear the more tools & the more complex the system.
you know two things
1. the people don't know what they are doing.
2. These peope are losing money
I am not trying to be mean but that is a fact.
if you ever see a real trader you will see very little on his screen
and the longer they trade you see ever less
great trades like Jim young use only one tool the 60sma
(& he was using years before anyone ever heard of 3 ducks)
But many great trades like Sam Seiden or a James chen use no tools at all!
When you see a system with a 100 tools they are for new people
1. So they will buy a systems!!
2. So they will lose money!!
In fact anyone in real trading will tell you
you make your money not on the entery but the exit.
This system will win big if you get out in bad trades & let your winners run;
you could lose 5 & win 1 and this system would easily make money
( you don't have to lose 5 trades by the way)
below is a chart & I show a trade with a number of exits
Cheers
TEB
do yourself a favour and don't even wast your time on 99%
of what is on this forum or any other for that matter.
most of what you see are people losing money!
let me be clear the more tools & the more complex the system.
you know two things
1. the people don't know what they are doing.
2. These peope are losing money
I am not trying to be mean but that is a fact.
if you ever see a real trader you will see very little on his screen
and the longer they trade you see ever less
great trades like Jim young use only one tool the 60sma
(& he was using years before anyone ever heard of 3 ducks)
But many great trades like Sam Seiden or a James chen use no tools at all!
When you see a system with a 100 tools they are for new people
1. So they will buy a systems!!
2. So they will lose money!!
In fact anyone in real trading will tell you
you make your money not on the entery but the exit.
This system will win big if you get out in bad trades & let your winners run;
you could lose 5 & win 1 and this system would easily make money
( you don't have to lose 5 trades by the way)
below is a chart & I show a trade with a number of exits
Cheers
TEB
- #27
- Dec 21, 2008 1:14am Dec 21, 2008 1:14am
Request custom Expert Advisor or Indicator: dostapyuk "at" gmail . com
- #30
- Edited 4:32am Dec 21, 2008 4:14am | Edited 4:32am
- Joined Jan 2007 | Status: Trader | 5,864 Posts
Okay, just to prove it.
I took my time and liberty to program your system.
It does EXACTLY what you said it should do.
Enter buy only when stoch 5,3,3 crossing 20 up and price>50ema and 50ema sloping up, and put sl at previous fractal low, and move stoploss up if new fractal low higher formed, and exit buy when stoch 15,3,3 crossing 80 down.
Oh, and also, it will not enter more than 1 time on the same bar.
ALL IBFX---ALL 1 MONTH OF PERIOD TESTING---ALL 90% MODELING QUALITY
USDJPY M15:
http://i125.photobucket.com/albums/p...7974/Shot3.gif...
that is why I never back test,, I find it useless
1. You tested trades when I would not be in the market trading.
a. Time of day
b. Angle on the MA
2. I would not use the 14.3.3 as my only exit (when I did trade with this I did make money)
because you will miss the big moves.
3. I would use multi lots
4. I would still keep an eye on S/R / trend lines & the "00" & the "50"on the chart
cheers & thanks
teb
- #31
- Dec 21, 2008 4:44am Dec 21, 2008 4:44am
- Joined Jan 2007 | Status: Trader | 5,864 Posts
Look the whole point of this thread was to show the system makes only a little diff
in a trade all you need is
1. a trend - the 50ema/sma
2. a triger - the stoch
3. a target.. pick one
( I normal add a tool,,, you could do this same thing with just one tool there I have two
I will say anyone with more then three tools on their charts have too many!!!!)
its the exit where you make your money
and knowing the market and charts.
I still personally like MTF..
but for new people this is a system they can use & win with
and get to know the markets & charts.
cheers & thanks
tebhttp://www.forexfactory.com/images/misc/progress.gif
in a trade all you need is
1. a trend - the 50ema/sma
2. a triger - the stoch
3. a target.. pick one
( I normal add a tool,,, you could do this same thing with just one tool there I have two
I will say anyone with more then three tools on their charts have too many!!!!)
its the exit where you make your money
and knowing the market and charts.
I still personally like MTF..
but for new people this is a system they can use & win with
and get to know the markets & charts.
cheers & thanks
teb
http://www.forexfactory.com/images/misc/progress.gif - #34
- Dec 21, 2008 5:12am Dec 21, 2008 5:12am
- Joined Jan 2007 | Status: Trader | 5,864 Posts
hello TEB,
there is still a litle problem here.
the way oksana put it out is not very constructive, i know, but i have to
consider this:
you have a litle system that have an edge. you give some basic rules,
then i would expect, if the edge really exist, to have some positive results
when i have a simple test on that.
if you tell me that the system become profitable only when you aplly an aditional set of rules or discretion, then we have a problem here. the way we manage a trade can improve or decrease the final results. but the core rules...
Hi that is ok
No the system will work
but you do have to learn the market & charts
the big two are problems here with back testing
1. time of day .. 12noon to 7pm est (other then a round 5pm) DO NOT TRADE ANY TREND SYSTEM
- I would not start trading a trending System until well into the Monday morning
well after London is going... at lest 2 hours on a 5 min chart.
- Trading on holidays not a good idea unless you know what you are doing
2. the angle on the 50ma .. a back test will take it at a .05% slope
but I would only trade when I see a good angle.
the other stuff you will need to learn & this is a great system to learn
cheers
TEB
- #36
- Dec 21, 2008 5:41am Dec 21, 2008 5:41am
- Joined Jan 2007 | Status: Trader | 5,864 Posts
teb thanks for the reply
i do have to say something though and after that i'll stop lol.
1. time of day - that's not hard to get in to the code and i can bet is the first thing oksana will do when see that.
2. the slope- this is subjectiv. the slope can modifie when you zoom in or out. maybe a relative slope can help. but finnaly the slope can be in the code also.
I am ok with what you have to say
cool try that see what happen.
(the only other thing I might well add is you could only trade a pair when their market is open
ie. I would not trade the cable at 8 pm est as niether the NY or London big boys are trading right)
other then that I think you will see this should win
BUT again with all trend systems & this is where coding is problematic.
its cutting your losses and letting your winners run..
people seem to be able to do that better.
cheers
TEB
- #37
- Dec 21, 2008 5:56am Dec 21, 2008 5:56am
- Joined Jan 2007 | Status: Trader | 5,864 Posts
same chart as before basically just added arrows to see where to exit & exit
But again as for the exits you would pick one or at most 3 & watch .
the easiest & likely the lest good is likely the 14.3.3 stoch.
the best and the hardest is the swing H/L following
cheers
teb
But again as for the exits you would pick one or at most 3 & watch .
the easiest & likely the lest good is likely the 14.3.3 stoch.
the best and the hardest is the swing H/L following
cheers
teb
- #40
- Dec 21, 2008 7:01am Dec 21, 2008 7:01am
- Joined Jan 2007 | Status: Trader | 5,864 Posts
The best way to trade is using 2 or more lots & exits
in this chart lets say we use 2 lots
the 1st lot is taken out at the "50"
(the "00" is only 9 pips away from the opening I want atleast 30pips)
it is taken out & so we move up our SL to 0+1 and we have a free trade on the 2nd lot.
the 2nd lot is taken out as price moves back up.
we would get less on this lot ...
but price could have as easily gone the other way.
or even a big move against us.
so trading this way we get a good pip count on the 1st
lot and a ok pip count on the 2nd
but also we were safe
& we could have been in a big move
I almost always do the "00" closed to me ...30pips or more
unless I see stronge S/R then if I was going to make a trade
I would use it. ( but I likely would not trade
TEB