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  • #41
  • Apr 27, 2009 5:46am Apr 27, 2009 5:46am
Hi Rastaman
It was cable. low of asian session at 1.4527 on 7.00 bst candle then 8 bst opening candle came down to 1.4517 and took me in. totally going against me at the moment. I found during backtesting that maybe an entry greater than 10 away would have saved a couple of bad entries like this. but who knows there's plenty of time for this to turn round. I placed those entry orders myself and the indi didn't tell me to enter. I haven't concerned myself with that side of it as being in the uk, its easy for me to place my orders manually.
Andy
  • #42
  • Apr 27, 2009 7:55am Apr 27, 2009 7:55am
Quoting andypips
Hi Rastaman
It was cable. low of asian session at 1.4527 on 7.00 bst candle then 8 bst opening candle came down to 1.4517 and took me in. totally going against me at the moment. I found during backtesting that maybe an entry greater than 10 away would have saved a couple of bad entries like this. but who knows there's plenty of time for this to turn round. I placed those entry orders myself and the indi didn't tell me to enter. I haven't concerned myself with that side of it as being in the uk, its easy for me to place my orders manually.
Andy
This is so strange, I work on Alpari UK, BST+1 just like you. The 7AM BST candle signaled my asian low at 1.45211, the next candle's low was at 1.45131, so I never got in. Guess I was lucky this time. There sure is a lot of difference between the brokers!!
Good trading to all,
Wendy
  • #43
  • Apr 27, 2009 8:28am Apr 27, 2009 8:28am
will try and answer question later Im following

GBPUSD
GBPJPY
GBPCHF
GBPAUD
GBPCAD
GBPTRY

Only those swaps with GBP listed 1st i think should be used

Cheers

ps.. This is not a commercial venture this is a system that I bought so i could use an indicator off of it.

the actual system you buy uses a trend indicator to help you take only the trades with the current trend but i found this knocked you out of some really good moves..

Also i think he states he only looks at the 1st 3 bars after the close of the Asian.

So this is different the only thing Im using is his ind to mark hi lo of Asian



Paulus
  • #44
  • Apr 27, 2009 9:13am Apr 27, 2009 9:13am
Right on the nose for EUR/GBP. Didn't exactly play this by the rules though.

The LONG order just did not look right, so I wne t short 10 pips after the break.
Attached Image (click to enlarge)
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Starting to see instead of just looking.
  • #45
  • Apr 27, 2009 10:18am Apr 27, 2009 10:18am
Think we are just about done.

Better not push my luck.
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Starting to see instead of just looking.
  • #46
  • Apr 27, 2009 11:05am Apr 27, 2009 11:05am
Quoting Limstylz
In the forexrush indie, you should adjust the indicator to match the tokyo start and end against your broker offset.

e.g. I use Alpari UK as my broker....
thanks Limstyls...
so i just modify tokyo time with my broker offset .....
  • #47
  • Edited 6:15pm Apr 27, 2009 5:57pm | Edited 6:15pm
The LFR system puts in about 8-16 trades per month and is profitable. I think the most consecutive losses I had with it were 5, and overall it won approx. 60% of its trades. Its rules allow only 1 pair traded per day; usually the first to trigger and that pair must trigger between the hrs of 8 - 10 am UK local time (BST), and to avoid news.

I go to break even at 1:1 and don't take the trade if the LFR indicator displays a take profit less than 1.5:1. If the LFR indcator sets a TP greater than 2:1 I close out at 2:1.
The settings I use for the LFR indicators are: stops are "aggressive" and TP's are ""conservative".

The GBPTRY is not used in the system; GBPNZD is used instead.
The spread on the GBPTRY on my platform is prohibitive and I can't see any practical use in this system for a pair with a 60 pip spread! However, it is getting late and I may have misread that.

As with all FOREX methods only lots and lots of hours LIVE TRADING will truly tell you how good it is; at least 100 trades or 3 months of watching if the trades are fewer!

So Good luck with this variation of the Asian Break-Out.
Gray.
  • #48
  • Apr 27, 2009 7:10pm Apr 27, 2009 7:10pm
I've just finished backtesting, manually, this system.



Pairs used:

  1. EUR/GBP
  2. GBP/USD
  3. GBP/CHF
  4. GBP/AUD
  5. GBP/JPY
  6. GBP/CAD

Did not take into account the spread.
Assumed "End of Day" at 00:00 GMT. Don't know if this is what Paulus uses as I didn't get reply to previous post.
Backtested from 23/02/09 to 24/04/09 - 60 trading days.

Results and basic statistics in attached excel file.

Hope this helps to better understand this method.

Good luck and pips to all.

Attached File(s)
File Type: xls Backtest Paulus.xls   35 KB | 1,967 downloads
Stay on the PIPest side of life!
  • #49
  • Apr 27, 2009 8:34pm Apr 27, 2009 8:34pm
Piper,

Great job on the backtest. I'm sure that was time consuming. It seems to be impressive but will it be consistent in the FUTURE actual performance? That's always been the key for a good system. All systems go thru a period of down time. I'll be demoing this for a while. It may need adjustments on TP, SL specially during the summer (slower market).

Overall, I must say it's a clean system, no care about trend, or other indicators, EMAs, etc. It's a great arsenal to keep in your trading tool box. I use a fib retrace system in a trend with a fairly decent success but my chart looks like somebody's nightmare. This system can't be any easier if it works consistently. Definetely worth a serious live testing for about 6 months to verify its real performance.

Good Luck and thanks for taking the time to do the backtest, it really helps put things in prespective.
  • #50
  • Apr 27, 2009 9:07pm Apr 27, 2009 9:07pm
Quoting $aly
thanks Limstyls...
so i just modify tokyo time with my broker offset .....

http://www.forexfactory.com/nfs/cust...tar96656_1.gif
$aly

Does, this mean, that you are also residing in Japan?

If so, please let me know what settings you are using as, I still am not sure this thing is setup correctly.

Thanks in advance
Starting to see instead of just looking.
  • #51
  • Apr 27, 2009 10:09pm Apr 27, 2009 10:09pm
Anyone know what the daily range limit is for this system?

Probably around 60 pips, I imagine?
Starting to see instead of just looking.
  • #52
  • Apr 28, 2009 1:19am Apr 28, 2009 1:19am
Great job piper, but which fib level did you use as your tp?




Quoting PIPer
I've just finished backtesting, manually, this system.



Pairs used:

  1. EUR/GBP
  2. GBP/USD
  3. GBP/CHF
  4. GBP/AUD
  5. GBP/JPY
  6. GBP/CAD

Did not take into account the spread.
Assumed "End of Day" at 00:00 GMT. Don't know if this is what Paulus uses as I didn't get reply to previous post.
Backtested from 23/02/09 to 24/04/09 - 60 trading days.

Results and basic statistics in attached excel file.

Hope this helps to better understand this method.

Good luck and pips to all.

  • #53
  • Edited 1:57am Apr 28, 2009 1:32am | Edited 1:57am
Piper

Great work on the back test

From my own results I had already decided to bin GBPCAD as you can see below

GBPUSD +125+97+68+118-82 +327
GBPAUD +143+4+116-145+114 +232
GBPJPY 169+108+143+89-108 = +401
GBPCAD -113+89-89-87+100 = - 120
GBPCHF 100+81+77-143+134 = +249
GBPTRY +125+146+136+230+139 = +776 ..very large spread I will follow anyway

When going from demo to live there is one ingredient we still need ...luck

Not many traders like using this word but the way I see it you need it.

A quote from Napoleon

"Give me lucky men for my generals, I can teach them everything else"

Every system does have draw downs its part of game if you like it will happen .. you may demo this for 12months and then go live only to hit the 4 week draw down..

Unless your un emotional and use money management I guarantee you will bin the system..............its a human reaction

Cheers

Paulus
  • #54
  • Apr 28, 2009 2:24am Apr 28, 2009 2:24am
GBP/USD has some potential with these double bottoms forming.
Attached Image (click to enlarge)
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Starting to see instead of just looking.
  • #55
  • Apr 28, 2009 2:34am Apr 28, 2009 2:34am
Quoting Rastaman

Does, this mean, that you are also residing in Japan?

If so, please let me know what settings you are using as, I still am not sure this thing is setup correctly.

Thanks in advance
Attached Image (click to enlarge)
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  • #56
  • Edited 3:00am Apr 28, 2009 2:48am | Edited 3:00am
I know, it says NO TRADE but there again, it said NO TRADE for 2 bars after the Asian close on EUR/GBP then LONG, yesterday.

The outcome was this. I think this indi needs to be taken with a pinch of salt.

Also, if you look at the Murrey Math Lines on the chart above, we are at a major reversal point.

I am not saying it will break up, I am simply saying, It COULD.
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled-1.jpg Size: 88 KB
Starting to see instead of just looking.
  • #57
  • Apr 28, 2009 2:51am Apr 28, 2009 2:51am
Quoting Rastaman
GBP/USD has some potential with these double bottoms forming.
Rastaman id love to know where you got those levels from on your chart 1/8 2/8 etc, or did you input them manually?

Cheers
  • #58
  • Apr 28, 2009 2:57am Apr 28, 2009 2:57am
Wonder NO More. The Black lines work good on a white background, if you have a black background use the other one.
Attached File(s)
File Type: mq4 # Murrey Math Black.mq4   11 KB | 600 downloads
File Type: mq4 Murrey_Math_Line_X_eng.mq4   13 KB | 596 downloads
Starting to see instead of just looking.
  • #59
  • Apr 28, 2009 3:11am Apr 28, 2009 3:11am
The indicator posted by Paulus is for the forex rush system which is known to be useless for anything other than showing the high and low of asian session. If you did not purchase the system then you are in breech of copyright, which is why I posted an indicator by Andee that does the same thing without the NO TRADE bullshit... Use that instead!

Quoting Rastaman
I know, it says NO TRADE but there again, it said NO TRADE for 2 bars after the Asian close on EUR/GBP then LONG, yesterday.

The outcome was this. I think this indi needs to be taken with a pinch of salt.

Also, if you look at the Murrey Math Lines on the chart above, we are at a major reversal point.

I am not saying it will break up, I am simply saying, It COULD.
  • #60
  • Apr 28, 2009 3:13am Apr 28, 2009 3:13am
ok 1st candle afetr Uk open at 8am

All hi lo lines set...

need the break by 10 pips

P
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