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EUR/GBP Trendmagic System

  • #3,661
  • Jun 30, 2009 3:10am Jun 30, 2009 3:10am
Quoting lohad
Absolutely not.
Mushashi,

I wasn't trying to be a smart ass there. But this is my point.

You can go and spend a day backtesting dead charts all you want for a day. And on the same day, I will forward test live with lets say a penny a pip.

For my own personal needs I feel I will get more out of that day doing it my way. For you can never replace real market conditions. And if I lose a 100 pips in a day, well that dollar is a small price to pay to try an indicator under live circumstances to see what it really doing.

Instead of just tip toeing the water at a pool while I am backtesting thinking the water is warm, until you plunge and that cold water hits the "boys" if ya know what I mean

Just my philosophy. Not right or wrong. Just right for me.

Lohad
  • #3,662
  • Jun 30, 2009 3:13am Jun 30, 2009 3:13am
Quoting lohad
Mushashi,

I wasn't trying to be a smart ass there. But this is my point.

You can go and spend a day backtesting dead charts all you want for a day. And on the same day, I will forward test live with lets say a penny a pip.

For my own personal needs I feel I will get more out of that day doing it my way. For you can never replace real market conditions. And if I lose a 100 pips in a day, well that dollar is a small price to pay to try an indicator under live circumstances to see what it really doing.

Instead of just tip toeing the water...

What ever happened to the good old days of 1st back-testing, 2nd paper trading, and finally live trading with a very small amount?
  • #3,663
  • Jun 30, 2009 3:13am Jun 30, 2009 3:13am
Quoting goldsurfer
Forward testing is usefull

Just using Edges 14 linear ma, a fav of mine the 55 ema, pivots, the Tg's and two of my favorite indies.

Lohad, I like to use the setup you showed me for confirmation or for a 1m entry. These trades setup almost perfect with small risk just using the 55 as the stop.
Can you explain a bit how do you use Waddah in combination with other indies?
And do you really find THV Trix useful? I like just Trix index.
Indrek
  • #3,664
  • Jun 30, 2009 3:24am Jun 30, 2009 3:24am
Quoting Indrek
Can you explain a bit how do you use Waddah in combination with other indies?
And do you really find THV Trix useful? I like just Trix index.
Indrek
Waddah was introduced to me by Jfx. He has a thread now called zenki. He is a pretty nice fellah and will answer your questions. Pretty self explanatory though, look for the explosion and match the colors.

Cobra's trix in my opinion is as good as any MACD,CCI,Laguerre, Fisher, etc, etc. Well, better.....

Cheers
  • #3,665
  • Jun 30, 2009 3:25am Jun 30, 2009 3:25am
Quoting notch
What ever happened to the good old days of 1st back-testing, 2nd paper trading, and finally live trading with a very small amount?
Nothing is wrong with it. I did that when I was first starting out. Now days I want to see what an indicator will do under a live feed with small amounts of real money on the line to see how an indicator will react to PA the way I read it. I find this helps me a lot more.

Like I said Notch. Backtesting is wrong for me, not wrong in general. I can always become a weekend millionaire over the weekend looking at a dead chart, but that does not pay the bills. I will however run things through a simulator over the weekends.

Lohad
  • #3,666
  • Jun 30, 2009 3:36am Jun 30, 2009 3:36am
Quoting lohad
Nothing is wrong with it. I did that when I was first starting out. Now days I want to see what an indicator will do under a live feed with small amounts of real money on the line to see how an indicator will react to PA the way I read it. I find this helps me a lot more.

Like I said Notch. Backtesting is wrong for me, not wrong in general. I can always become a weekend millionaire over the weekend looking at a dead chart, but that does not pay the bills. I will however run things through a simulator over the weekends.

Lohad

I understand and respect your point. But I test so many models (100s) that the traditional approach is the one which allows me to sort the wheat from the chaff (if that's the correct expression).
  • #3,667
  • Jun 30, 2009 3:39am Jun 30, 2009 3:39am
Thats cool Notch!

Different strokes for different folks. If it helps your trading, thats the most important thing.

Lohad.
  • #3,668
  • Jun 30, 2009 3:42am Jun 30, 2009 3:42am
Hi Lohad - have tried to find your scalping thread but cant. Could you just post a link in your signature pls or just post it. thanks
  • #3,669
  • Jun 30, 2009 3:44am Jun 30, 2009 3:44am
Quoting lohad
Thats cool Notch!

Different strokes for different folks. If it helps your trading, thats the most important thing.

Lohad.
I used to backtest during some period. Then I finally understood that it is just alternative to trading, nothing more. The only small difference is that you never win pips nor money on it.
Indrek
  • #3,670
  • Jun 30, 2009 3:51am Jun 30, 2009 3:51am
Quoting gillybabe
Hi Lohad - have tried to find your scalping thread but cant. Could you just post a link in your signature pls or just post it. thanks
Gillybabe,

Sorry about that. I need to update my sig line. I do have a thread of a system that has been very successful for me. It was based on the BBMacd. If you search for Lohad Scalping you will find it. The BBMacd is what brought me to Paulus' thread.

However, I then morphed my system based on the Vorticity indicator, that has worked really well for me. So I created a new thread recently called TG Vorticity - By Lohad M1 Scalping. Not trying to hijack here.

Regards,

Lohad
  • #3,671
  • Jun 30, 2009 3:53am Jun 30, 2009 3:53am
Quoting Edgetrader
Great post.

Very well thought out strategy and excellent mindset qualities in addition.

Short and simple ---- You either win or lose based on your BELIEF that you are trading your 'EDGE' faithfully based upon the enormous amounts of study regarding PA that helped a trader develop their own personal EDGE.

Anything else is folly. Plan your Trade and Trade your Plan!!!! Do it everytime without fail and stop the eternal searching so many get absorbed with. Trade to Live, don't Live to Trade.

Regards.
Hi Edge,

Where exactly are the entry rules for the +5 and + 10 plan?

thanks
  • #3,672
  • Jun 30, 2009 3:55am Jun 30, 2009 3:55am
Quoting Indrek
I used to backtest during some period. Then I finally understood that it is just alternative to trading, nothing more. The only small difference is that you never win pips nor money on it.
Indrek

Exactly Indrek. That is my point. Never made money backtesting, more important, never lost money backtesting. And I am serious about that. Never saw the characteristics of indicator when a trade goes bad on a dead chart. So for me there is no way to see how I would handle things on a trade gone bad on a dead chart.

But I do respect that backtesting is a vital tool to many. Just not me.

Lohad
  • #3,673
  • Jun 30, 2009 4:21am Jun 30, 2009 4:21am
Quoting Indrek
I used to backtest during some period. Then I finally understood that it is just alternative to trading, nothing more. The only small difference is that you never win pips nor money on it.
Indrek
That doesn't make any sense to me (unless to have years and years of trading experience). So if you have 1000 systems to test to which do you allocate funds? If one is an EXPERIENCED trader who can access various methods quickly then I understand but I think this approach would be truly reckless for somebody new to trading. If it's good enough for the hedge-funds, investment banks and other big money traders then it good enough for me.
  • #3,674
  • Jun 30, 2009 4:28am Jun 30, 2009 4:28am
Agreed... I think the trix offered on this thread is great for standard cross
and confirmation, ie how most are using it. The THV trix is more than that
and I personally dont use it for entry trigger but confirmation as well..
and I often have used it for exits, ie when it reaches the ob/os levels
as a exit for a play, also will consider closing all, or closing part
of my trade if the fast trix turns against my play.

Brian

Quoting goldsurfer
Waddah was introduced to me by Jfx. He has a thread now called zenki. He is a pretty nice fellah and will answer your questions. Pretty self explanatory though, look for the explosion and match the colors.

Cobra's trix in my opinion is as good as any MACD,CCI,Laguerre, Fisher, etc, etc. Well, better.....

Cheers
  • #3,675
  • Jun 30, 2009 5:13am Jun 30, 2009 5:13am
Here is the hiken ashi for exits.
Attached File(s)
File Type: ex4 Heiken Ashi#.ex4   3 KB | 371 downloads
Market Makers are the best
  • #3,676
  • Jun 30, 2009 5:15am Jun 30, 2009 5:15am
Hey Golden when do you consider the trix to be in an ob/os level?.
Quoting golden1
Agreed... I think the trix offered on this thread is great for standard cross
and confirmation, ie how most are using it. The THV trix is more than that
and I personally dont use it for entry trigger but confirmation as well..
and I often have used it for exits, ie when it reaches the ob/os levels
as a exit for a play, also will consider closing all, or closing part
of my trade if the fast trix turns against my play.

Brian
  • #3,677
  • Jun 30, 2009 5:28am Jun 30, 2009 5:28am
Quoting golden1
Agreed... I think the trix offered on this thread is great for standard cross
and confirmation, ie how most are using it. The THV trix is more than that
and I personally dont use it for entry trigger but confirmation as well..
and I often have used it for exits, ie when it reaches the ob/os levels
as a exit for a play, also will consider closing all, or closing part
of my trade if the fast trix turns against my play.

Brian

I also think that the THV Trix is very good. I never take signals from it but it helps me to gauge the market.
  • #3,678
  • Jun 30, 2009 5:34am Jun 30, 2009 5:34am
Quoting notch
That doesn't make any sense to me (unless to have years and years of trading experience). So if you have 1000 systems to test to which do you allocate funds? If one is an EXPERIENCED trader who can access various methods quickly then I understand but I think this approach would be truly reckless for somebody new to trading. If it's good enough for the hedge-funds, investment banks and other big money traders then it good enough for me.
If you are going to test 1000 systems then you anyway will not ever trade. Pick up some more promising systems, choose components that you like and try a combination of these at your demo account. But not too long because trading at demo is absolutely different from trading live.
Backtesting hundreds of systems is a waste of life, I am quite sure of that.
Besides, there is no absolutely ready system, I think everybody has to build up his own version of sth.
Indrek
  • #3,679
  • Jun 30, 2009 5:37am Jun 30, 2009 5:37am
Quoting Indrek
If you are going to test 1000 systems then you anyway will not ever trade. Pick up some more promising systems, choose components that you like and try a combination of these at your demo account. But not too long because trading at demo is absolutely different from trading live.
Backtesting hundreds of systems is a waste of life, I am quite sure of that.
Besides, there is no absolutely ready system, I think everybody has to build up his own version of sth.
Indrek

Get a grip! Do you think I'd sit here manually backtesting systems? It is fully automated. I still trade the market daily. Opps practically all the systems that I test I have created but they're not in MT4.
  • #3,680
  • Jun 30, 2009 6:05am Jun 30, 2009 6:05am
Quoting lohad
Mushashi,

I wasn't trying to be a smart ass there. But this is my point.

You can go and spend a day backtesting dead charts all you want for a day. And on the same day, I will forward test live with lets say a penny a pip.

For my own personal needs I feel I will get more out of that day doing it my way. For you can never replace real market conditions. And if I lose a 100 pips in a day, well that dollar is a small price to pay to try an indicator under live circumstances to see what it really doing.

Instead of just tip toeing the water...

Sorry mate that doesn't make one ounce of sense.

You can forward test all you want. You might forward test for a whole year. You can test a strategy in a backtest in a few minutes.

Once you are happy with past performance then it is the time to forward test a strategy.

Not the other way around. Forward testing is important. Backtesting is just important if not more important.

Sorry.

Anyone who says backtesting is useless is stupid imo.
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