Awaiting for your view.
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DislikedI just created an EA using the exact entry and exit rules and did a back test and it got whipped to death.
1/1/2006 to 12/31/2006
574 total trades
81 Profitable (14% winners)
Total PIPS = (-8284)
Now it did make some really good trades (one as high as 498 pip profit) but the whip back and forth was way too much. What could we do to filter these out?Ignored
DislikedHi tk and all,
I follow and try some of the systems in this great forum but what I like in tk's systems is that they are 100% thecnical. And this one looks realy good.
Thanks a lot tk. http://www.forexfactory.com/images/icons/icon7.gif
eagle4x , can you explain what do you mean by these crossovers?
Is it high, low or close on the two of them? One low and the other high?
ThanksIgnored
DislikedJust wondering how far back you could test to see if this loses consistently.
If it is consistent and you did the opposite = BIG MONEY!
I would be more than willing to accept a 500+ DD to make 8K pips per year!
Could you please test your EA further back? Thanks in advance.Ignored
DislikedTK,
With all due respect, how could you manage to extract 125 pips a week with a yearly loss of 8284 pips? That doesn't add up. What am I missing? My backtests also show umerciful whipsawing. As indicated, there are some nice runs. But the beating in between is unbearable.Ignored
DislikedAgree.
Along with what Mikeh and 'Homer' stated earlier, I have checked this out and although there is the odd patch of nice trends, it doesn't seem to make up for the excessive consolidation periods that would fry you.
All the MM in the world (which you should be practicing anyway) will not save you from a negative pip earner system.
I ask questions on how long this has been tested etc etc and it's funny but they don't get replied to. Thats OK, I do my own research anyway but God help those that blindly follow in because they have a day or two of good results or because someone else says they made 2000 pips in 2 weeks.
To his own admission, TK has only traded this 2 weeks (which was a 'perfect' market for this) and 2 weeks is hardly enough to prove a systems robust nature.
This methodology is dangerous because it is not much more than a moving average crossover system which when most novice traders first see appears to be the holy grail simplistic answer to trading. Yes, in a clean swinging market, trend to trend, they will work for a short period but just when you are settling into your comfort zone that all is fine in the world, this thing will whip your account to zero.
I'm not saying this cant work as a Tool but it MUST NOT BE your entire system.
If TK is making it work (and I mean really making it work - 2 weeks is not proof of anything) then it is because he is using additional technical analysis to filter channel periods.
Money Management is not a filter people! It is just a temporary stay of execution if you have a crap system.
FxNIgnored
DislikedFX - You have yet to share your system or ideas with the forum. We all know what you don't like and I for one would like to hear about your successful trading methodology.
TimIgnored
DislikedTim/Forum members
I'm not sure what I find sadder, the fact that this type of response was predictable or that you take my input as negative.
For a start, why say I don't LIKE the methodology for I never said that. I said it was unwise and dangerous and is historically proven to be so. Why not take the input as an actual contribution because believe it or not, it comes from a wealth of experience.
You speak as though I wish to sabotage your efforts to become rich keeping the 'wondrous WMA method' from you all. I think if you look honestly at yourself, you will realize the market is big enough for us all and the last thing I want is for others to not succeed. It would be far more selfish of me to pass by this thread and think "wow, what a huge mistake, they are going to burn money!" and then move on without saying a word.
You attack because it's not what you wish to hear.
Oh, and by the way, I do contribute (additionally) even if you do not take helpful warnings as not a worthy contribution.
My system you ask? Yes, that was the next question I expected and you are going to hate the answer. Trading is a personal journey, fraught with hardship and much work. It doesn't come easy and it isn't handed out has a freebie on forums especially after I have busted my ass and poured thousands of $ into it over 4 years. This being said however, anyone is welcome to draw on my knowledge and ask about pointers for their own system and if it so happens to cross paths with what I have done, then I am not going to steer them away from it.
Sadly, forums are full of people who I liken to baby birds, with their mouths open, constantly squawking, hoping that somebody else do the hard yards and drop that magic money making system in. Sorry, but a bit of effort has to be shown first.
Your comment and attitude is why I hardly bother to show up at forums.
FxNIgnored
DislikedOkay, the flame war stops right here and right now! Don't make me have to start deleting posts.
BTW, I happen to agree with what FxN is contributing. Having gone down a similar road myself, I know from first hand experience that what FxN is saying is the truth. Newbies should heed his observations.
DialIgnored
DislikedGetting back to the system..
First because i haven't posted - Thanks TK for your systems. If there's one thing i've learnt in 2 years is that Strategies can be argued and debated on for many months, but i think thats what makes the trading journey all the more interesting. Always things to learn and discuss.. and I for one appreciate your thoughts and ideas.
In relation to this particular strategy, has anyone thought much about exit strategies? Like others stated the whipsawing action is hard to deny but this does not make this system unusable, it just creates a challenge. I thought about closing half the position at a set TP point(this would be depending on pair and volatility) and then aiming the other half to run, or 2TP (~double whatever first TP was at)
For example GPB/JPY
2 days ago (according to my charts)
Entry at High WMA 225.10
Stop at Low WMA 224.40 (perhaps this shoulda been S&R but i didn't)
Entry at High WMA 225.03
TP1(1/2 position) at 226.03
TP2(1/2 position) at 227.03
Thats the trade i made which netted 90 pips and i was happy.
Just throwing some ideas out there.
Cheers,
PS It just hit low WMA 226.45 an hour ago, maybe i'll go short....Ignored
DislikedBTW, I happen to agree with what FxN is contributing. Having gone down a similar road myself, I know from first hand experience that what FxN is saying is the truth. Newbies should heed his observations.
DialIgnored
Dislikedi've been looking over this new system, we need a filter for the ranging periods. how about adx, no entries if it's under 24? there will still be stops, but probably less than without adx.
or if someone can think of a more suitable indicator for showing the trend/range, please do post about it.Ignored