"The person who knows that enough is enough, will always have enough".
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- #224
- Edited 9:53am Jul 25, 2009 9:03am | Edited 9:53am
Have been spending 3 days to back test and the setting i used make money from Nov 2008 till July 2009 [before Nov never back test] and counting [except for the month of April which lose about $10]. Best Month May, up $772, winning range from $100+ to $700+ [calculated based on per month return]. My back test assume the account balance of $2500.
I'm already trading live since Monday.
Through my manual back test , I had learned that losses cannot be prevented and you just have to take it as part of the system. The winning will eventually cover the lost at the end of each month most of the time [For GBPUSD]. Also, the higher the TP , the lower winning % and u will lose more often especially in chopping market. If higher TP can cover up all the losses for the month , u can make money but I find smaller TP much more consistence in providing profit at the end of each month even if there is chopping market going on.
IMO , we should start looking at how to make money/reduce lost from chopping market becoz trending market got nothing to worry about and my solution [not the best but it's good enough for me] to chopping market is to have a smaller TP [get out with TP before getting chop out with SL]
Btw, Friday was a winning day for me thanks to my buffer setting, however, my sell limit order got slip by 10 pips due to the News. I still hit TP but it will less by 10 pips
I'm already trading live since Monday.
Through my manual back test , I had learned that losses cannot be prevented and you just have to take it as part of the system. The winning will eventually cover the lost at the end of each month most of the time [For GBPUSD]. Also, the higher the TP , the lower winning % and u will lose more often especially in chopping market. If higher TP can cover up all the losses for the month , u can make money but I find smaller TP much more consistence in providing profit at the end of each month even if there is chopping market going on.
IMO , we should start looking at how to make money/reduce lost from chopping market becoz trending market got nothing to worry about and my solution [not the best but it's good enough for me] to chopping market is to have a smaller TP [get out with TP before getting chop out with SL]
Btw, Friday was a winning day for me thanks to my buffer setting, however, my sell limit order got slip by 10 pips due to the News. I still hit TP but it will less by 10 pips
Have been spending 3 days to back test and the setting i used make money from Nov 2008 till July 2009 [before Nov never back test] and counting [except for the month of April which lose about $10]. Best Month May, up $772, winning range from $100+ to $700+ [calculated based on per month return]. My back test assume the account balance of $2500.
I'm already trading live since Monday.
Through my manual back test , I had learned that losses cannot be prevented and you just have to take it as part of the system. The winning will eventually cover...
Can you share how did you do manual back test? And, how many pips of buffer did you set?
Thanks ahead
Simple is powerful all the time.
hi all. Ok guys I will give some full details how I do...
Thank you Fed. ATR could be helpful for determining target and stop ranges.
It is hard to find out false breakouts. Losses are always certain. I think only way to recover losses is managing TP/SL levels and increasing profits and filtering with range calculation.
hi all. Ok guys I will give some full details how I do the breakout strategy. Note: This week Iwill switch to 15min chart, I have back tested it with 15 min chart and I found that if I have used 15 min chart I could of had the TP1 on friday by 30 pips and instead loosing the whole trade.
1. so on a 15 min chart draw 2 lines between 2 am - 5 am (according to my brocker my chart...
Great job Fed
At last somebody total up this strategy. Actually I don't know which is more profitable ( Fed's version or Tasciy's version)
I have to do backtest Tasciy's strategy. As far as backtest Fed's version it was done by Forexisfx's and rating is positive.
I have question to Fed
I just wonder if the high/low lines is greater then 60 pips you wrote that don't place SL there, that's mean you don't trade those days?
Great job Fed
At last somebody total up this strategy. Actually I don't know which is more profitable ( Fed's version or Tasciy's version)
I have to do backtest Tasciy's strategy. As far as backtest Fed's version it was done by Forexisfx's and rating is positive.
I have question to Fed
I just wonder if the high/low lines is greater then 60 pips you wrote that don't place SL there, that's mean you don't trade those days?
, if SL calculates more then 60 pips between your entry point and low/high + 10 pips, then I will place 60 pips maximum for 30 pip TP1. Most of the time if the SL calculates more then 60pips by a big margin then you would also target higher pips with TP1 anyway. I found out that the if SL is closer to the high/low lines then you'll have better winning rate which that is what I am trying to do. I am so against tight SLs with pairs like g/u, g/j.
