I'd just like to say thanks to all the contributors on this post. I've read them all (!) and they have been just so educational for me, a complete newbie. It is such a help to hear what others are doing because I do feel very alone and exposed in the market. I have been trading live with this system since the beginning of October with 15 winning days and 3 losses. The rest were either not triggered or I did not trade (SMA200, EMA 90) in box. I use the 2 - 5 time frame and today would have been a win had I not bottled it and pulled the trade when at -3 pips.
So a loss today, that puts us on +86ish pips for the month trading it mechanically with 9 days left to trade.
Koco - I here you mate, trading is the most frustrating thing in the world, just keep the faith and when a loser occurs, just move on.
Keep the faith and keep disciplined and the pips will come.
Have just checked today's Cable chart - lost on the long, which reached about +16 pips and then retraced past the stop loss about 10.30am
However, as I mentioned yesterday, if we kept the short trade open, then it made the 30 pips and a few more by about 12pm
Think I shall keep an eye on this method of minimising losses
Happy pipping
Austin
- #1,646
- Nov 18, 2009 7:36am Nov 18, 2009 7:36am
I want to post some research I have done on Scull's method.
This was done on forward testing on a live IBFX account only from 1 November.
Took all trades except NFP Friday and 10 November when box was to big.
Trades = 11
Wins = 6
Losers = 5
% Win = 55
Pips = -20
Then I put Grant's 85 EMA on the chart and only bought when it was blue and sold when it was red.
Trades = 8
Wins = 6
Losers = 2
% Win = 75
Pips = 100
When I put Dubai Trader's 25 and 50 slope indicators on the 1 hour chart and omly bought when both were blue and sold when both were red.
Trades = 4
Wins = 4
Pips = 120
If you add Grant's 85 to the 15 min chart and onlly bought when the 25 and 50 slopes were blue on the 1 hour and the 85 were blue on the 15 min and visa verse.
Trades = 4
Wins = 4
Pips = 120
Will update at end of the month.
This was done on forward testing on a live IBFX account only from 1 November.
Took all trades except NFP Friday and 10 November when box was to big.
Trades = 11
Wins = 6
Losers = 5
% Win = 55
Pips = -20
Then I put Grant's 85 EMA on the chart and only bought when it was blue and sold when it was red.
Trades = 8
Wins = 6
Losers = 2
% Win = 75
Pips = 100
When I put Dubai Trader's 25 and 50 slope indicators on the 1 hour chart and omly bought when both were blue and sold when both were red.
Trades = 4
Wins = 4
Pips = 120
If you add Grant's 85 to the 15 min chart and onlly bought when the 25 and 50 slopes were blue on the 1 hour and the 85 were blue on the 15 min and visa verse.
Trades = 4
Wins = 4
Pips = 120
Will update at end of the month.
- #1,648
- Edited 1:24pm Nov 18, 2009 11:57am | Edited 1:24pm
On your last 2 tests quoted below. Could you explain how did you filter Nov. 12 and 17 trades? It turns a loss in both cases on my test according to Dubai's slopes. The slopes show a good sell or buy signal, but the trades didn't reach 30 pips profit target.
I am for one believes this is a great trading strategy and everyone that contributed are great peole. I am just trying to see if i miss something somewhere. Thanks for your reply.
I am for one believes this is a great trading strategy and everyone that contributed are great peole. I am just trying to see if i miss something somewhere. Thanks for your reply.
I want to post some research I have done on Scull's method....
When I put Dubai Trader's 25 and 50 slope indicators on the 1 hour chart and omly bought when both were blue and sold when both were red.
Trades = 4
Wins = 4
Pips = 120
If you add Grant's 85 to the 15 min chart and onlly bought when the 25 and 50 slopes were blue on the 1 hour and the 85 were blue on the 15 min and visa verse.
Trades = 4
Wins = 4
Pips = 120
Will update at end of the month.
- #1,652
- Nov 18, 2009 3:47pm Nov 18, 2009 3:47pm
Artifiz, thank you! 
One more thing... on what pairs do you use this system??? I will backtest GBPUSD, GBPJPY, EURGBP and GBPCHF as soon as i can using Scullmeister's settings.
Can someone tell me the date where the clock goes summer time and summer time goes winter time?
Best regards
One more thing... on what pairs do you use this system??? I will backtest GBPUSD, GBPJPY, EURGBP and GBPCHF as soon as i can using Scullmeister's settings.
Can someone tell me the date where the clock goes summer time and summer time goes winter time?
Best regards
“Well, you know, I was a human being before I became a businessman.”
Artifiz, thank you!
One more thing... on what pairs do you use this system??? I will backtest GBPUSD, GBPJPY, EURGBP and GBPCHF as soon as i can using Scullmeister's settings.
Can someone tell me the date where the clock goes summer time and summer time goes winter time?
Best regards
You asked for people to share their settings but you also said you were confused with all the different styles? That's a bit of contradiction.
My advice would be to find the one that suits you best and your trading outlook. Do you prefer smaller SLs or bigger SLs? Are you looking for a quick 10/20 pips or do you want a longer term trade? All these questions need to be asked before you can decide which method to use.
- #1,656
- Edited 1:16am Nov 19, 2009 1:02am | Edited 1:16am
Mat,
excellent research my friend..
what were your TP and SL for the tests??
Also if the 85 is in the breakout box i dont take the trade, would that have made a difference???
again great work mate
many pips to us all
Grant
Method: Scull's 5 to 7:30 GMT box.
TP 30, SL 40
Filter = Grant's 85 EMA ( Sell when red, buy when blue)
Results: Trades 10
Wins 8
Losers 2
Pips 160
% Win 80
Why I missed 2 trades was because one of them first took profit in the opposite direction and then came back to take profit in the original direction. The second one only took profit in the Asian session.
So above trades is set + forget.
You look at the colour of EMA from 5 to 7:30 and place trade in that direction. Depending in which timezone you are; you then go play golf, go back to bed or go to a night club.
If you only took the trades when EMA were outside the box.
Trades 6
Wins 4
Losers 2
Pips 40
% win 50
Hope that helps
- #1,657
- Nov 19, 2009 1:09am Nov 19, 2009 1:09am
On your last 2 tests quoted below. Could you explain how did you filter Nov. 12 and 17 trades? It turns a loss in both cases on my test according to Dubai's slopes. The slopes show a good sell or buy signal, but the trades didn't reach 30 pips profit target.
I am for one believes this is a great trading strategy and everyone that contributed are great peole. I am just trying to see if i miss something somewhere. Thanks for your reply.
12 and 17 November would not have been valid trades with Dubai's slopes.
The 4 winners was on 3,4,9 and 13 November.
- #1,659
- Nov 19, 2009 1:35am Nov 19, 2009 1:35am
Scull has mentioned that this is only 50 % of his trading. He uses other indicators too.
So today all 3 indicators is red and EMA is outside box, but price has bounce off Daily S1 at 1.6685 a few times.
So I will set my entry 7 pips below that.
I am off to play golf in the rain.
So today all 3 indicators is red and EMA is outside box, but price has bounce off Daily S1 at 1.6685 a few times.
So I will set my entry 7 pips below that.
I am off to play golf in the rain.