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4H Banker Buster

  • #181
  • Oct 9, 2009 8:52pm Oct 9, 2009 8:52pm
Quoting Dan Gilbert
I just realized if the breakout box is smaller, and your trade fails and retraces to a TSL, your loss is less because you were pulling the S/L up sooner because you entered the trade sooner.... (I hope that makes some kind of sense... )
Makes sense to me, it's a ramble like I do, and yes, in theory your right.
  • #182
  • Oct 9, 2009 9:00pm Oct 9, 2009 9:00pm
Quoting Pharoah
Makes sense to me, it's a ramble like I do, and yes, in theory your right.

Another thought: If a breakout box is 40 pips, from top to bottom, Let say you set your s/l as a hard stop at the far side of the box (so a -40 pip stop), and IF the trade goes in your favor by 60 pips, you can slap a 100 pip TSL to it.

This allows you to risk less on your losses if the trade goes in your favor, BUT the tighter hard stop that you set originally could cause some damage...

I'm going to try this out right now on a couple pairs... (yes it's friday night, yes I have no life loooooool )
Many choose unhappiness over uncertainty.
  • #183
  • Oct 9, 2009 9:11pm Oct 9, 2009 9:11pm
Quoting Dan Gilbert
Another thought: If a breakout box is 40 pips, from top to bottom, Let say you set your s/l as a hard stop at the far side of the box (so a -40 pip stop), and IF the trade goes in your favor by 60 pips, you can slap a 100 pip TSL to it.

This allows you to risk less on your losses if the trade goes in your favor, BUT the tighter hard stop that you set originally could cause some damage...

I'm going to try this out right now on a couple pairs... (yes it's friday night, yes I have no life loooooool )
it does cause damage, because the gross profit is alot higher than $400,000, this is what we are looking at to reduce the DD
  • #184
  • Oct 9, 2009 9:45pm Oct 9, 2009 9:45pm
Quoting Pharoah
it does cause damage, because the gross profit is alot higher than $400,000, this is what we are looking at to reduce the DD
I figured it would.... I think extending my loss after getting more into profit is a newbie-sydrome/excuse to take a larger position size....
Many choose unhappiness over uncertainty.
  • #185
  • Oct 9, 2009 10:00pm Oct 9, 2009 10:00pm
Quoting Dan Gilbert
I figured it would.... I think extending my loss after getting more into profit is a newbie-sydrome/excuse to take a larger position size....
One of the techniques we are going to employ to reduce the amount or whiplash is the prevention of a trade in the direction of a losing trade. I've noticed in backtests that it will attempt to buy, close, buy, close, buy, close all while the stoploss was very close, when if it had just ignored the buy, and took the sell, it would have made a profit instead of taking a loss. This is something that is currently plaguing the EA from producing optimal results, and will also help reduce any whiplash felt in ranging markets as well, by effectively reducing the amount of breakouts it can have. Something else I'm considering is how to effectively deal with the increasing volatility and stoplosses. What I have been running through my head because the EA has alot of valuable information displayed directly on the chart, it would be calculated based on the Average daily range the day prior, this I believe will help the system determine volatility to automatically keep up with the times when dealing with stoploss locations and dynamic box sizes, for example.

Say you have a 50 pip box size, and the average daily range is somewhere around 150, and the stoploss is say, 1/2 or 2/3 the box size, when the market volatility goes up, as do the ranges, this would warrent a larger box, not a whole lot larger, but larger none the less to allow for market movement in the now more volatile market. I think this will help the system become completely dynamic, allowing it to survive the long haul. This would also effect the takepartial point. Limiting a system to take a set number of pips when the market is ever changing in volatility to me seems a little unreasonable.

Anyway, this is some food for thought
  • #186
  • Oct 9, 2009 10:03pm Oct 9, 2009 10:03pm
Quoting Pharoah
Who ever wants to participate, add their comment here with a brief description of what is offered, and I will compile a list. While not everyone will be accepted, this does not mean you do not qualify for the EA once it is finished.
Hi Pharoah!

Great thread. I would love to help with your EA as it has great potential. I am not an EA programmer, but I can help with testing. I have 20+ years experience as a systems analyst and may be able to offer suggestions on the system.

Thank you for your consideration!

SirWolf
Believe and Achieve!
  • #187
  • Oct 9, 2009 10:07pm Oct 9, 2009 10:07pm
Quoting sirwolf
Hi Pharoah!

Great thread. I would love to help with your EA as it has great potential. I am not an EA programmer, but I can help with testing. I have 20+ years experience as a systems analyst and may be able to offer suggestions on the system.

Thank you for your consideration!

SirWolf
20+ years experience, nice. PM me the particulars of "System Analyst". Unfortunately, "System Analyst" applies to a department in nearly every field these days.
  • #188
  • Oct 9, 2009 10:08pm Oct 9, 2009 10:08pm
Interesting you guys mention other pairs, gold etc check this chart out trouble is the spread is criminal

Plus looking for higher time frames for S/R is a great idea something I did move away from with this system as I thought if you are going to trade break outs you should go for the lot

Attached Image (click to enlarge)
Click to Enlarge Name: XAUusd.jpg Size: 104 KB


Sorry it's XAUUSD
I do Good I feel GoodI do Bad I feel Bad
  • #189
  • Oct 9, 2009 10:16pm Oct 9, 2009 10:16pm
Quoting Offshore
Interesting you guys mention other pairs, gold etc check this chart out trouble is the spread is criminal

Plus looking for higher time frames for S/R is a great idea something I did move away from with this system as I thought if you are going to trade break outs you should go for the lot

Attachment

Sorry it's XAUUSD
Exactly Offshore, this is the whole reason I intent to employ the "BoxTrail" system, because it seeks out those S&R points, and utilizes them, I see already on that chart a few weeks in which this system would have cleaned house, and that completely engulfed the entire move just like your image shows.
  • #190
  • Oct 9, 2009 10:28pm Oct 9, 2009 10:28pm
Quoting Pharoah
Exactly Offshore, this is the whole reason I intent to employ the "BoxTrail" system, because it seeks out those S&R points, and utilizes them, I see already on that chart a few weeks in which this system would have cleaned house, and that completely engulfed the entire move just like your image shows.

yep just looking back there are some very good weeks especially when everything else is ranging .
I have always been looking for a trending system and a ranging system.
But maybe we need as you say one that trades the lot but just be more selective
I do Good I feel GoodI do Bad I feel Bad
  • #191
  • Oct 9, 2009 10:42pm Oct 9, 2009 10:42pm
Quoting Offshore
yep just looking back there are some very good weeks especially when everything else is ranging .
I have always been looking for a trending system and a ranging system.
But maybe we need as you say one that trades the lot but just be more selective
Exactly, I don't think there is any reason to use more than 1 system. The only market conditions that would truly effect Banker Buster is this

-_-_-___--_---___--__--___---__-----___--__--____---____-----___

I don't see that happening any time soon.
  • #192
  • Oct 9, 2009 11:13pm Oct 9, 2009 11:13pm
Quoting Pharoah
Maybe this will be the holy grail, maybe it won't.. I'm leaning more towards won't, because there is no holy grail (but still, I'd shit if it was)
Pharoah . . . I've given a lot of thought to how I would react if I found the holy grail, but I must tell you, I never thought of just taking a dump.
Greetings from Guanajuato, Mexico
  • #193
  • Oct 9, 2009 11:16pm Oct 9, 2009 11:16pm
Quoting yen44x
Pharoah . . . I've given a lot of thought to how I would react if I found the holy grail, but I must tell you, I never thought of just taking a dump.
No man, I would... I'd have to change... Of course, this would only happen AFTER I seen the actual $$$ coming in lol
  • #194
  • Oct 9, 2009 11:17pm Oct 9, 2009 11:17pm
yep

bye the bye I had enough of trading just recently I have had an account open for about two years and the balance stayed about the same up and down for that time and now is just about empty.

So was about to throw the towel in on FX, BUT it's bloody adictive.

I'm not looking for a get rich quick scheme, it's the process I was always pretty good at maths in school and liked it as a subject but soem of the stuff you and others do here is well above me so I see it as a challenge.

And making money would be great as well.


Good to see you are still around But Yonnie is right got to get some balance.

And I know YEN would be the first to buy you a tequlia

Just let me know when and where

I do Good I feel GoodI do Bad I feel Bad
  • #195
  • Oct 9, 2009 11:20pm Oct 9, 2009 11:20pm
Quoting Offshore
BUT it's bloody adictive.
Isn't it tho...
  • #196
  • Oct 9, 2009 11:37pm Oct 9, 2009 11:37pm
Quoting Pharoah
No man, I would... I'd have to change... Of course, this would only happen AFTER I seen the actual $$$ coming in lol
Truth be told . . . I'd probably react exactly the same.
Greetings from Guanajuato, Mexico
  • #197
  • Oct 10, 2009 11:01am Oct 10, 2009 11:01am
Quoting Pharoah
One of the techniques we are going to employ to reduce the amount or whiplash is the prevention of a trade in the direction of a losing trade. I've noticed in backtests that it will attempt to buy, close, buy, close, buy, close all while the stoploss was very close, when if it had just ignored the buy, and took the sell, it would have made a profit instead of taking a loss. This is something that is currently plaguing the EA from producing optimal results, and will also help reduce any whiplash felt in ranging markets as well, by effectively reducing...
In my manual forward testing I have introduced the Kumo as a filter to try and stop whipsaw trades. The Kumo is a graphical representation of S&R and volatility. For anyone interested it is the heart of the Ichimoku Kinko Hyo system.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd kumo 4h bb.gif Size: 30 KB
  • #198
  • Oct 10, 2009 12:53pm Oct 10, 2009 12:53pm
Quoting macman
In my manual forward testing I have introduced the Kumo as a filter to try and stop whipsaw trades. The Kumo is a graphical representation of S&R and volatility. For anyone interested it is the heart of the Ichimoku Kinko Hyo system.
The kumo is actually something I'm considering Greatly. Since someone has stated it is very similar in function to Ichimoku in the S&R finding respect I feel it's only fitting. Plus, Ichimoku is a very successful trading system, I'd be stupid to completely dismiss it.
  • #199
  • Oct 11, 2009 4:51am Oct 11, 2009 4:51am
Quoting Pharoah
...
Is this a Breakout system? Yes... yes it is. Is this a traditional Breakout System? No... it most certainly is not. If I'm not mistaken (which I could be) this is the first breakout system to employ what I've called "BoxTrail".
Hi Pharoah,
Unfortunately not the first. I have a system which chases along the breakouts & I'm sure it's not the first either. It is based on an indicator from Mr demark, here at FF.
But also unfortunately it needs a lot of my "doctoring" to get it to slow up a bit on the shifting of the boxes. Then it will really need fixing to get it to work again.

Your 4H system with your exit shows much more promise. It is more settled from what I can see. Also more profitable

cheers scalpz
Target 2 : Stoploss in the green
  • #200
  • Oct 11, 2009 5:17am Oct 11, 2009 5:17am
Quoting Pharoah
Exactly Offshore, this is the whole reason I intent to employ the "BoxTrail" system, because it seeks out those S&R points, and utilizes them, I see already on that chart a few weeks in which this system would have cleaned house, and that completely engulfed the entire move just like your image shows.
Yep, if you stay in the trade, you get the full 1 way trip. But if you cut at the retraces & run the retrace as well, then you get another shot at that portion of the original move. Thats not just double the trip, but for some portions its 3x the trip less the spread & a little bit for delay.

The skill is in the tuning for the turning. But this resetting of the box takes care of a decent chunk of that tuning.

Much more fun & $$ too.

cheers scalpz
Target 2 : Stoploss in the green
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