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Mikkom's stophunter system

  • #21
  • Edited 3:27pm Apr 28, 2009 2:47pm | Edited 3:27pm
Quoting billbss
For what it's worth, it does use the Sunday bar.
.. uh, I think I posted the wrong version again. I'll check the correct version later, I have it somewhere on the computer but not just sure where.

edit: Let's try this one, I also changed the one in the first post.
Attached File(s)
File Type: ex4 mikko_mtf_fractal.ex4   7 KB | 651 downloads
  • #22
  • Apr 28, 2009 3:46pm Apr 28, 2009 3:46pm
Example setup pic below (I'm not very good in explaining this stuff)
Attached Image (click to enlarge)
Click to Enlarge Name: example.gif Size: 19 KB
  • #23
  • Apr 28, 2009 3:49pm Apr 28, 2009 3:49pm
Quoting mikkom
Example setup pic below (I'm not very good in explaining this stuff)
I think I understand.
Thank you.
  • #24
  • Apr 28, 2009 3:54pm Apr 28, 2009 3:54pm
Quoting Dreamliner
Take profit and stop loss are listed on the first page. 20 pips target and stop loss is half way between the two fractals. There is a HUGE risk to reward with this system, which means its hit rate is probably very high.
No, the tp is +20 pips from open of next daily candle, not from the entry.

Risk is just as large as you define it to be.

"Win trade ratio" is only 45.26% in one of my tests (and win ratio usually doesn't mean a thing anyway).
  • #25
  • Apr 28, 2009 4:00pm Apr 28, 2009 4:00pm
Quoting mikkom
Example setup pic below (I'm not very good in explaining this stuff)
One more question-
Do you continue resetting the TP with each new bar, or do you only do it with the bar after entry?

Do you ever move your SL?
  • #26
  • Apr 28, 2009 4:03pm Apr 28, 2009 4:03pm
Quoting billbss
One more question-
Do you continue resetting the TP with each new bar, or do you only do it with the bar after entry?

Do you ever move your SL?
SL will remain where it is for the duration of the trade so no trails at this method.

If tp is not hit on next bar, it's set to +20 from the open of the next daily bar exactly the same way as in the previous bar.

There is a reason for both of these but I don't go there at least yet.
  • #27
  • Apr 28, 2009 4:53pm Apr 28, 2009 4:53pm
Thanks for posting - I am going to give this a whirl on the 4 main ones

I have
Eu buy @ 1.3300
UJ buy @99.74
GU buy @ 1.4771
U/CHF sell @ 1.1349

So I now just wait until they get taken, nothing else - right or wrong.

Cheers Punta
  • #28
  • Apr 28, 2009 4:56pm Apr 28, 2009 4:56pm
So let me understand; let's say that there is an up fractal placed on the bar, so I enter a buy stop at that price (and a stop loss half way between this up fractal and the last down fractal--which let's say in this case is 197 pips). Once the order enters, we place a take profit order 20 pips above the next day's open price.

Is this all correct?
  • #29
  • Apr 28, 2009 4:58pm Apr 28, 2009 4:58pm
Quoting puntalara
Thanks for posting - I am going to give this a whirl on the 4 main ones

I have
Eu buy @ 1.3300
UJ buy @99.74
GU buy @ 1.4771
U/CHF sell @ 1.1349

So I now just wait until they get taken, nothing else - right or wrong.

Cheers Punta
I believe you should have a pending BUY and SELL for each pair, except UJ.
  • #30
  • Apr 28, 2009 5:04pm Apr 28, 2009 5:04pm
Quoting billbss
I believe you should have a pending BUY and SELL for each pair, except UJ.
And you also need stop losses:

E/U buy: stop loss is 1.3242
E/U sell: stop loss is 1.2942

Agree?
  • #31
  • Apr 28, 2009 5:07pm Apr 28, 2009 5:07pm
Quoting Dreamliner
And you also need stop losses:

E/U buy: stop loss is 1.3242
E/U sell: stop loss is 1.2942

Agree?
I haven't looked at EU, but shouldn't the SL be the same for both Buy and Sell?
The SL is the midpoint between the Buy point and the Sell point.
  • #32
  • Apr 28, 2009 5:15pm Apr 28, 2009 5:15pm
Quoting billbss
I haven't looked at EU, but shouldn't the SL be the same for both Buy and Sell?
The SL is the midpoint between the Buy point and the Sell point.
Here is how I have it:

E/U: Buy at 1.3300

Last down fractal 1.2885 (on 4/22).

Difference between the two equals 415.

415 divided by 2 equals 207.5

Buy order at 1.3300 minus 207.5 equals stop loss order at 1.30925 (I was wrong on my previous post).

This should also be the same stop loss for the short order as well.

Is this all correct?
  • #33
  • Apr 28, 2009 5:20pm Apr 28, 2009 5:20pm
Quoting Dreamliner
Here is how I have it:

E/U: Buy at 1.3300

Last down fractal 1.2885 (on 4/22).

Difference between the two equals 415.

415 divided by 2 equals 207.5

Buy order at 1.3300 minus 207.5 equals stop loss order at 1.30925 (I was wrong on my previous post).

This should also be the same stop loss for the short order as well.

Is this all correct?
It looks good to me. That's what I get.
I would add the spread to my Buy Order and add the spread to the SL on my Sell Order.
  • #34
  • Apr 28, 2009 5:22pm Apr 28, 2009 5:22pm
200+ pip stop for 20 pip gain? I guess I better read that part again. So far seems like any other fractal breakout strat.
  • #35
  • Apr 28, 2009 5:25pm Apr 28, 2009 5:25pm
Quoting BenQ
200+ pip stop for 20 pip gain? I guess I better read that part again. So far seems like any other fractal breakout strat.
That's what I thought too, but it's not exactly a 20 pip gain. It could end up a lot more than that. You wait until the end of the bar that the order triggered on, and then add 20 to that. Make sense?
  • #36
  • Apr 28, 2009 6:19pm Apr 28, 2009 6:19pm
Either start a new thread if this is a real system, or if you are being facetious then at least learn the system presented here. It is not a 200 to 20 system.

Quoting Pipnator
hey guys...here is my strategy

works brilliantly on sunday mornings..

risk - reward ratio is brillliant....you only risk 200 pips to make 20 pips...pls feel free to ask me any question
  • #37
  • Apr 28, 2009 6:28pm Apr 28, 2009 6:28pm
ok, thanks. I'll have a closer look then.

Quoting Dreamliner
That's what I thought too, but it's not exactly a 20 pip gain. It could end up a lot more than that. You wait until the end of the bar that the order triggered on, and then add 20 to that. Make sense?
  • #38
  • Apr 28, 2009 8:14pm Apr 28, 2009 8:14pm
Quoting Rastaman
Dreamliner

Sorry to bother you with this but you seem to have a good understanding of the sketchy rules in this system, probably from experience.
Could you possibly, clarify, briefly your understanding of it?

Thanks in advance
1. Place buy/stop orders on all up fractals and sell/stop on all down fractals with a stop loss halfway between the two fractals. So stop loss will be the same for both long and short orders.

2. The day AFTER the order triggers, place a take profit order of 20 pips above the open of that day for a buy, and below the open of that day for a sell.

That seems to be all I understand of this system. If anyone gets it better, please let us know.
  • #39
  • Apr 28, 2009 8:34pm Apr 28, 2009 8:34pm
Quoting Dreamliner
1. Place buy/stop orders on all up fractals and sell/stop on all down fractals with a stop loss halfway between the two fractals. So stop loss will be the same for both long and short orders.

2. The day AFTER the order triggers, place a take profit order of 20 pips above the open of that day for a buy, and below the open of that day for a sell.

That seems to be all I understand of this system. If anyone gets it better, please let us know.
He also said to keep moving the TP, with every daily bar.
  • #40
  • Apr 28, 2009 8:40pm Apr 28, 2009 8:40pm
Quoting Rastaman
That was quick!

I see, a bit better anyway, Lol

Suppose we have to wait for the poster to clarify the rules a bit more.

Do you know how to calculate the "R% position size"? Just googeling.
1. Decide what percentage of your account you want to risk with each trade.
You will risk the number of lots that equal that should your SL be hit.

Example:

You want to risk 3% of your account with each trade.

Your account size is $1000.

3% = $30

We'll say the SL on a particular trade is 100 pips.

You want each pip to be equal to $.30 or 30 cents.

On a standard account you would make the order for .03 lots.

On a mini account it would be .3 lots.
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