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  • #61
  • Feb 12, 2009 3:42am Feb 12, 2009 3:42am
the problem with that is one lose at 268 will not patch all of your wins you still lose :/

Just my two cents
  • #62
  • Feb 12, 2009 3:55am Feb 12, 2009 3:55am
Quoting bob92588
the problem with that is one lose at 268 will not patch all of your wins you still lose :/

Just my two cents
nop, if the win rates higher, you have have higher chance to double up the 268 many times before it happen. If it happens before your win accumulation, it is risk that you should take.

with 30 to 40 dollars per winning setup, u will need 6 to 9 straight winnings to break even. After that, no risk as it is house money..

my 2 cents too..

I've quite similar idea, see my experiments of 2008 results in my journal.
  • #63
  • Feb 12, 2009 10:22pm Feb 12, 2009 10:22pm
Quoting bob92588
the problem with that is one lose at 268 will not patch all of your wins you still lose :/

Just my two cents
I WISH SOME PEOPLE WILL LISTEN
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PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #64
  • Feb 12, 2009 11:07pm Feb 12, 2009 11:07pm
To what? A chart?
Quoting zamanib
I WISH SOME PEOPLE WILL LISTEN
  • #65
  • Feb 13, 2009 12:09am Feb 13, 2009 12:09am
Quoting paradoxical
To what? A chart?
Lets be honest
please go back from since I started this thread. Look at the previous week high and low and see I sell and buy in this area. with my coditions
do you see any losses or account blow out.
One day you will be crying running to follow this basic system
This is how the professional traders trade. Do you think the follow any indicators. Look always what happen at the weekly mothhly support and resistance area. Here is tip for you at the begining of each month look for the high and low for the previous month draw 2 lines then next the the previous week high and low draws 2 lines
then daily 2 lines just look and see what happen at these area. Now u will get a great trade if 2 of these time frame match up or near to each other
oh I hope you choose one of these group

There are 3 types of people
1. Innovators --contribute to human race--Like Engineers Doctors (Scientist)
I dont think they work for free (and no one can pay them enough for there inventions and knowledge) And my time is precious also.

2.Most people in this group. Followers copier cheater modifier you name it

3. Complete useless to the human race- looser

CHOOSE YOUR GROUP ---THEN STICK TO IT ---OR IMPROVE YOURSELF
PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #66
  • Feb 13, 2009 2:04am Feb 13, 2009 2:04am
Quoting paradoxical
To what? A chart?
For you paradoxical (did you choose the group yet) Not for sale freeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee
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PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #67
  • Feb 13, 2009 3:27am Feb 13, 2009 3:27am
Salam Alikoum Zamanib,

Sorry to be short but I would prefer to stay focus on this very interested thread you started.

As a nob, let me explain you what is my understanding of your trading method :

1) Draw the HIGHS/LOWS of the PREVIOUS month, week and day

2) If 2 of any of these 3 TF match up/near to each others and at 50%/61.8% fibs retracement of the main swing or at important chartist zones like swing high/low, support/resistance, psych round number (.00 and .50 number) and trend line

check the others conditions :

3) Trades conditions*, I mean trades are NOT allowed during :
a) Options expiration day
b) End month day
c) Friday
d) Big news day release for the current currency pair
e) Holyday


In my humble condition, if the light is green for entering a trade, I would place a stop/stop limit order at the high/low of the first closed 4 hour candle touching the trading area ?

Trading 1 hour candle is possible but more difficult as the 'touch&go' method too !!

Thanks to correct me if I'm wrong or to improve/add some more conditions in this check list.

Happy trading all,

Cheers

Angel




* Please feel free to check/rectify my own process because I can be totally on the wrong side. Thanks to be you, it would be better for all to keep staying on the right path
  • #68
  • Feb 13, 2009 4:23am Feb 13, 2009 4:23am
Quoting Angel65
Salam Alikoum Zamanib,

Sorry to be short but I would prefer to stay focus on this very interested thread you started.

As a nob, let me explain you what is my understanding of your trading method :

1) Draw the HIGHS/LOWS of the PREVIOUS month, week and day

2) If 2 of any of these 3 TF match up/near to each others and at 50%/61.8% fibs retracement of the main swing or at important chartist zones like swing high/low, support/resistance, psych round number (.00 and .50 number) and trend line

check the others conditions :

3) Trades conditions*,...
Pretty much it
PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #69
  • Feb 13, 2009 4:57am Feb 13, 2009 4:57am
Hi Again,

Glad to hear that my first step is on the right side but not sure regarding :

1) My filtering conditions like : trades are NOT allowed during :
a) Options expiration day
b) End month day
c) End week day or Friday
d) Big news day release for the current currency pair
e) Holyday


2) My entries method like 'touch&go' of the rejection area or 1hour/4hour close candle with high/low breakout ?


Thanks for your attention,

Cheers

Angel
  • #70
  • Feb 13, 2009 9:48am Feb 13, 2009 9:48am
Quoting zamanib
I WISH SOME PEOPLE WILL LISTEN

i am not say that it does not work for you just that some one else is going to come along and see that and lose 268 2 or three times in a roll and never make up the profit back

bob
  • #71
  • Feb 13, 2009 11:01am Feb 13, 2009 11:01am
Quoting bob92588
i am not say that it does not work for you just that some one else is going to come along and see that and lose 268 2 or three times in a roll and never make up the profit back

bob
You are missing the main idea in this system. It is all about support and resistance and price action . I choose not to used stop but martingale. I know what I am doing . You can still trade off the high and low weekly
but used what ever stop you like
PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #72
  • Edited 10:04pm Feb 13, 2009 6:36pm | Edited 10:04pm
Quoting bob92588
i am not say that it does not work for you just that some one else is going to come along and see that and lose 268 2 or three times in a roll and never make up the profit back

bob
It is quite improbable to have such a losing sequence even under the worst conditions, as price moves in waves and even in a strong trend there are small reversals all the time (I just tested on the simulator on the long fall down from 1.6037, august and mid-september). I have to test other dates but basically that was a 2000 pips fall in which I only could buy at support (previous week low).

Balance never lost more than the $2600 (testing with 0.1 lot on a 10000 balance) that zamanib mentions. Win/loss ratio was around 50/50 (in fact overall balance DD didn't even reach that).

I tested from the 1st of July so I had the chance to take a short (x2) almost at the top, which was trailed down to the last support at around 1.38xx but I am not taking this into account. I mention it because, should one have the chance to pick a reversal with the (x8) trade, and trail it as long as possible, reward would increase tremendously!

Of course, I assume that each week the entry prices are reassessed, I also used a stop at BE+1 when price went on my direction at least 60 pips, trailing it every 50 pips thereafter (10 at 110, 20 at 160, 50 at 200,etc...) and each week depending on the recent highs/lows.

I am curious to test it but in respect to the daily high/low... so as soon as I have the results for both (daily and weekly) over the August 2008 fall and the December 2008 rise, I'll post them here.

zamanib, have you already compared using this system on daily H/L?
Your system is very simple and stress free, I like it (I use something similar but without martingaling and based on psych levels, and on very small TFs).
Quite long on weekly though, that's why I want to check the results in regard to Daily candle...
Thanks!
  • #73
  • Feb 14, 2009 1:30pm Feb 14, 2009 1:30pm
Here are my findings:

Period considered: July 22 to September 15, 2008

Same parameters in both: TS 50, 4 levels of martingaling, SL 100

Weekly
42 trades
Start balance 10000
End balance 7966
P/L = -2034 (-20,34%)

Daily
41 trades
Start balance 10000
End balance 16862
P/L = 6862 (68,62%)

In my opinion, using the previous DAILY High/Low will bring much more opportunities than the weekly, especially in a countertrending situation.
Next I'll test December's rise to see if this holds.

zamanib, thanks for the invite but, wouldn't it be better to keep on discussing your strategy here so more people can learn and benefit of the discussion? (BTW is that your blog, "SaudiForex"?)
  • #74
  • Feb 14, 2009 1:39pm Feb 14, 2009 1:39pm
Here's an indicator that shows High/Low of current and previous periods (from M1 to MN at choice), as a continuous line. You can place it several times with different TF settings if you need.

Maybe some programmer out there could even tweak it to show previous H/L instead of current, anyway like it is it can be useful as well.
Attached File(s)
File Type: mq4 0_HighLow_Custom.mq4   4 KB | 551 downloads
File Type: ex4 0_HighLow_Custom.ex4   3 KB | 336 downloads
  • #75
  • Feb 14, 2009 3:57pm Feb 14, 2009 3:57pm
Quoting doblece
Here are my findings:

Period considered: July 22 to September 15, 2008

Same parameters in both: TS 50, 4 levels of martingaling, SL 100

Weekly
42 trades
Start balance 10000
End balance 7966
P/L = -2034 (-20,34%)

Daily
41 trades
Start balance 10000
End balance 16862
P/L = 6862 (68,62%)

In my opinion, using the previous DAILY High/Low will bring much more opportunities than the weekly, especially in a countertrending situation.
Next I'll test December's rise to see if this holds.

zamanib, thanks for the invite but, wouldn't it be...
I SEE YOU HAVE LOTS OF TIME ON YOUR HAND
LISTEN YOU CANNOT TOTAL BACK TEST THIS SYSTEM
EXAMPLE LET SAY GBPUSD ON THURSDAY HIGH LOW 12TH FEB FOR TRADE ON FRIDAY 13TH
SO YOUE EA WILL WORK TO AN EXTENT
I DON'T BLINDLY FOLLOW THE HIGH AND LOW OF THE PREVIOUS WEEK OR PREVIOUS DAY HIGH AND LOW.
MY TIME IS PRECIOUS THIS SYSTEM NEED TO BE LEARNED AND PRACTICE ON DEMO FOR ONE 1 MONTH WITH NO STOP OUT. ONCE YOU MASTER THIS YOU ARE ON YOU OWN FOR LIFE WITH CONFIDENDCE. I PAY A LOT TO LEARNED I BLEW
A FEW ACCOUNTS IN THE PAST. YOU CAN TAKE THE SAME APPROACH ON THE WEEKLY. THERE ARE MORE TO THIS SYSTEM. I HOPE THERE ARE MORE SMART GUY LIKE YOU CAN COME OUT AND ADD TO IT. I AM BIG FAN OF STATISTIC (PREVIOUS DATA)
HERE IS ONE FOR ALL LOOK AT EURO FOR THE PAST 7-8 YRS WHAT HAPPEN IN NOVEMBER AND DECEMBER UP UP UP UP UP
AND IT WILL HAPPEN AGAIN IN NOVEMBER 2009
PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #76
  • Feb 14, 2009 3:59pm Feb 14, 2009 3:59pm
Quoting doblece
Here are my findings:

Period considered: July 22 to September 15, 2008

Same parameters in both: TS 50, 4 levels of martingaling, SL 100

Weekly
42 trades
Start balance 10000
End balance 7966
P/L = -2034 (-20,34%)

Daily
41 trades
Start balance 10000
End balance 16862
P/L = 6862 (68,62%)

In my opinion, using the previous DAILY High/Low will bring much more opportunities than the weekly, especially in a countertrending situation.
Next I'll test December's rise to see if this holds.

zamanib, thanks for the invite but, wouldn't it be...
OK
Attached Image (click to enlarge)
Click to Enlarge Name: lesson1.gif Size: 16 KB
PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #77
  • Edited 9:08pm Feb 14, 2009 5:58pm | Edited 9:08pm
Quoting zamanib
I SEE YOU HAVE LOTS OF TIME ON YOUR HAND
LISTEN YOU CANNOT TOTAL BACK TEST THIS SYSTEM
EXAMPLE LET SAY GBPUSD ON THURSDAY HIGH LOW 12TH FEB FOR TRADE ON FRIDAY 13TH
SO YOUE EA WILL WORK TO AN EXTENT
Of course it can't be followed blindly (who would be taking mostly only longs on such a downtrend anyway!).

The purpose behind the backtest (manual and visual, placing each and every trade myself) was to see, UNDER THE WORST POSSIBLE CONDITIONS (this includes the "stops" part) AND EVEN FOLLOWING BLINDLY, which TF was the best to use.

I never mentioned any EA? I don't believe in automated trading AT ALL.
I don't have more or less time on my hands than anyone else... but I sure know how to squeeze and use to its fullest every second out of it It's called multitasking... and peace of mind.

I already said that I use a similar strategy but on much smaller TFs, which gives me a daily 100-150 pips in average. With no stops either. And 90/20 win/loss ratio. So I can understand perfectly your point of view (no need for red letter shouting...)

Working on the tester or on demo is for me exactly the same thing... but much faster. This way I save my time for the trading week.
  • #78
  • Feb 14, 2009 11:16pm Feb 14, 2009 11:16pm
Quoting doblece
Of course it can't be followed blindly (who would be taking mostly only longs on such a downtrend anyway!).

The purpose behind the backtest (manual and visual, placing each and every trade myself) was to see, UNDER THE WORST POSSIBLE CONDITIONS (this includes the "stops" part) AND EVEN FOLLOWING BLINDLY, which TF was the best to use.

I never mentioned any EA? I don't believe in automated trading AT ALL.
I don't have more or less time on my hands than anyone else... but I sure know how to squeeze and use to its fullest every second out of it...
very nice .Ok can you please spell out your system step by step so we share and learn also we can see the similarity and difference
by the the red letter is not shouting this is for high light my points people read and miss the point
PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #79
  • Feb 15, 2009 12:26pm Feb 15, 2009 12:26pm
Quoting doblece
Here are my findings:

Period considered: July 22 to September 15, 2008

Same parameters in both: TS 50, 4 levels of martingaling, SL 100

Weekly
42 trades
Start balance 10000
End balance 7966
P/L = -2034 (-20,34%)

Daily
41 trades
Start balance 10000
End balance 16862
P/L = 6862 (68,62%)

In my opinion, using the previous DAILY High/Low will bring much more opportunities than the weekly, especially in a countertrending situation.
Next I'll test December's rise to see if this holds.
Hi Doblece;

This is very interesting, first i was very surprised to see that your results for the weekly were negative, but i only demoed it one week but with excellent results (see my journal).

Second, it is great that you made such a difference using the Daily. Perhaps you would kindly elaborate on how did u go about it. For example, did u apply Zamanib's Weekly sys exactly on the daily, or did u do it differently?

Also, How do u compare both systems (weekly and daily H/L) to the known system of trading the daily/weekly candle breakout (buy the high and sell the low)?

Thanks again for posting here and sharing;

Seb
  • #80
  • Feb 15, 2009 2:07pm Feb 15, 2009 2:07pm
Quoting seboileroom
Hi Doblece;

This is very interesting, first i was very surprised to see that your results for the weekly were negative, but i only demoed it one week but with excellent results (see my journal).

Second, it is great that you made such a difference using the Daily. Perhaps you would kindly elaborate on how did u go about it. For example, did u apply Zamanib's Weekly sys exactly on the daily, or did u do it differently?

Also, How do u compare both systems (weekly and daily H/L) to the known system of trading the daily/weekly candle breakout...
I haven't compared yet to the "inverse" breakout system but it's on my testing schedule. Will post results as soon as I do.

I applied the system blindly, that is, opening a buy limit and sell limit in regard to the weekly (and daily) previous high/low. With their corresponding three other limit martingaled trades. And adjusting those each week/day to the previous high/low if they hadn't been triggered. And starting again at 0.1 lots after the complete cycle has gone through each side.

I used a 100 pips stoploss in both cases, and also a 50 pip trailing (that would be different from the original system in which he says he uses no stops).

Of course, the fact of applying the system blindly gave me (especially on weekly) a higher amount of long positions in a blatant downtrend, and that's what I wanted to test, that even in a strong countertrend the loss gets controlled. However, as in daily there is more price cycling, I think it can be a better TF to use in worst conditions.
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