My backtesting was for 6 pairs--EUR/USD, GBP/USD, AUD/USD, USD/JPY, USD/CAD, and USD/CHF.
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Hi Y2a, you said your winning ratio is 69%, may I ask you how many trades you've found in your backtesting for the month? And how did you select/reject the signals? Cheers!
Sure i can create a screen shot of the trade that i entered and why...is it exactly to the rules of this method?...no...but it is what i have trained myself to look for and what works for me.
Do i catch everyone one of them? no...but i usually can tell in advance when a setup is beginning to form, so i prepare myself and pay more attention when that time comes.
It falls in line with what the folks who gotten good with this system say...you have to be patient and look for the re-occuring setups that reduce the risk of failure. It's not easy this system provides many entries...your looking a 5 minute chart that looks like it is giving you a good setup only to turn around on you.
It is rare that i enter a trade based on this system every day, somtimes those trade works out for 25pips, sometimes over 100, but alot of times its BE...other traders may handle these situations differently.
Now that is not to say there aren't valid entries everyday...i just choose not to take every one.
I also have stuctured my trading plan of this system to get my stoploss to BE as soon as possible.
After loosing so much!!! I now will not let a winning trade become a loosing trade...ever!! and this of course will give you more break even trades...but it will not reduce your trading capital...and that is my number one goal...to increase trading capital consistantly.
Sure i can create a screen shot of the trade that i entered and why...is it exactly to the rules of this method?...no...but it is what i have trained myself to look for and what works for me.
Do i catch everyone one of them? no...but i usually can tell in advance when a setup is beginning to form, so i prepare myself and pay more attention when that time comes.
It falls in line with what the folks who gotten good with this system say...you have to be patient and look for the re-occuring setups that reduce the risk of failure. It's...
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Thanks Earret,
It sounds that you have used a different set of rules than that of TheWicker, and you can get 16 A+ trades for 1 pair each month, while there even not 16 valid (good or bad) signals a month a pair for me using the original rules.
I would love to know how you can do this, although I will observe any modification of the original rules with caution.
If you really can improve the system such a lot, you are a genius! I thought you did not use this system for very long. Right?
It seems you don't look for the confirmation of laquarre, is it so?. You only trade with guppi contract and ema crossover signal?. If that is the case, after guppi contracted, there will be many ema cross signal, how do you know which one to take without laguarre ?
Although my track-record is not inspiring, I do insist to follow some principles in trading practise. I will only use well-defined method with proved backtesting results. In trading, there is no "inevitable" price movement for me, I will only talk about it in terms of probability.
Perhaps, you have discovered a new method for trading, but I'm really not sure how reliable it is. I am not trying to discourage you to discover new method here, but I think large amount of backtesting is needed to support your method. Otherwise, a method may work for a while for this pair, but after a while it may not work anymore. The original TheWicker's rules have been tested and used for years, and so I will try to follow it until I have good results.
I weigh the importance of the MACD and its direction higher than that of the Laguerre.
With that being said as long as the laguerre is going in the direction of the signal (in this case below .45) i feel this assists in the confirmation.
after the first signal i look for a retrace back to the 34ema's for a bounce in the direction of that signal. Waiting for the retracement keeps me out of taking multiple signals...and usually after the retracement price commits to its direction and makes its big move.
I may possibly miss a few pips employing this strategy but when it comes together there is a very high percentage that it is going to be a winner!
I merely stated the way that i use this strategy...i do agree you should follow the original rules until you get comfortable at trading it. I am not suggesting to anyone to attempt my method and i will not post them again.
Finnally good signal, excelent signal after bad last week.
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Pilatus,
Congratulation! I can see your persistence and consistence now rewards you consistently, after your years of hard work! I am very pleased to see this! I hope I can get there soon, despite my initial failure at the moment.
Two questions about your posted.
1. Is there any reasons that you did not enter at the first red vertical line, but the second red vertical line?
2. At the second red vertical line that you entered, the previous two bar together has dropped 34 pip, why did you think it still worthed entering?
I merely stated the way that i use this strategy...i do agree you should follow the original rules until you get comfortable at trading it. I am not suggesting to anyone to attempt my method and i will not post them again.
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Don't worry. I think it is highly apprecipated if you post a good method which you have been backtested or used for a considerable period of time. For me, anything is possible, but proof with consistency is needed. Cheers!
How do you know that wickers method have been tested and used for years. We know only Pilatus has been relatively success with this method and he is pocketing 200 pips per month. Other than that no one has verified that they are success with this.
Although my track-record is not inspiring, I do insist to follow some principles in trading practise. I will only use well-defined method with proved backtesting results. In trading, there is no "inevitable" price movement for me, I will only talk about it in terms of probability.
Perhaps, you have discovered a new method for trading, but I'm really not sure how reliable it is. I am not trying to discourage you to discover new method here, but I think large amount of backtesting is needed to support your method. Otherwise, a...
How do you know that wickers method have been tested and used for years. We know only Pilatus has been relatively success with this method and he is pocketing 200 pips per month. Other than that no one has verified that they are success with this.
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Because I read the whole thread, especially those messages/replies by TheWicker.
Congratulation! I can see your persistence and consistence now rewards you consistently, after your years of hard work! I am very pleased to see this! I hope I can get there soon, despite my initial failure at the moment.
Two questions about your posted.
1. Is there any reasons that you did not enter at the first red vertical line, but the second red vertical line?
2. At the second red vertical line that you entered, the previous two bar together has dropped 34 pip, why did you think it still worthed entering?
cheers!
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1. Simple buddy, first signal is not in EU session it is in asian. Second one is.
2. This pair is volatile more then other. Proper MM is good in that case.
How do you know that wickers method have been tested and used for years. We know only Pilatus has been relatively success with this method and he is pocketing 200 pips per month. Other than that no one has verified that they are success with this.
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Sorry buddy but I have never said that I make 200 pips per month. I said that I would be happy if I do.
I merely stated the way that i use this strategy...i do agree you should follow the original rules until you get comfortable at trading it. I am not suggesting to anyone to attempt my method and i will not post them again.
