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50 pips candle system

  • #241
  • Nov 28, 2009 10:47am Nov 28, 2009 10:47am
Quoting ja5on
nice observation there.
but for this system.i think we have to at least check the prices every few hrs. cannot afford not to trade for a few days right? .
Sure !
  • #242
  • Nov 28, 2009 10:51am Nov 28, 2009 10:51am
Quoting ja5on
am i right? so u always open limit order for the nxt set up when u start the current order?
YES
what if when u go to slp and u miss a few wins? u continue to draw the lines and start from there?

YES


anyway u said that if trending u going to put ur sl at 100pips. if u hit that sl wont u lose quite a bit of pips there? or its better to follow ur previous sl at 50pips. even if it hits its still not so pain. LOL.
No, my SL is always 50 pips.
When the price give me 50 pips more, i move my SL, because in a trend, i just have a SL, not a TP, i move my SL each time i have 50 pips more.
I said in the beginning of this thread that my SL = 50 and my TP = 50 because it's easier to understand. But in fact, i use both TP and SL only in ranges.
  • #243
  • Nov 28, 2009 11:17pm Nov 28, 2009 11:17pm
Quoting zebulon
No, my SL is always 50 pips.
When the price give me 50 pips more, i move my SL, because in a trend, i just have a SL, not a TP, i move my SL each time i have 50 pips more.
I said in the beginning of this thread that my SL = 50 and my TP = 50 because it's easier to understand. But in fact, i use both TP and SL only in ranges.
i see i see. i think i nv phrase my q properly one the one u are slping.
when u are slping right then u will miss a few trades. then will ur trades still be balance out? what u the time u slp are all the wins and the time u awake are the loses.
  • #244
  • Nov 28, 2009 11:54pm Nov 28, 2009 11:54pm
Hi everyone I have follow this thread for a while (ok ok I have been following since yesterday and I like it). I notice that people been asking about the USD/JPY and I have backtest the USD/JPY using the the 50 pips methods and I don't know if I did it right but I followed it the same way I learned it on here and here are my result since Aug - Nov. It would only let me backtest to Aug on my meta trader for some reason but here are the results.

Aug: +50 pips
Sep: -150 pips
Oct: +150 pips
Nov: +200 pips

You don't earn as much as GBP/USD, but hey it doesn't hurt having an extra +250 pips in your portfolio right?
  • #245
  • Nov 29, 2009 3:01am Nov 29, 2009 3:01am
Quoting JonJon92
Hi everyone I have follow this thread for a while (ok ok I have been following since yesterday and I like it). I notice that people been asking about the USD/JPY and I have backtest the USD/JPY using the the 50 pips methods and I don't know if I did it right but I followed it the same way I learned it on here and here are my result since Aug - Nov. It would only let me backtest to Aug on my meta trader for some reason but here are the results.

Aug: +50 pips
Sep: -150 pips
Oct: +150 pips
Nov: +200 pips

You don't earn as much as GBP/USD, but hey...

listen man first of all good luck and iam sure when u use this method on the gbpusd u will get more pips.....and i offer to u to try it on the gbpjpy, i think it will go better than the gbpusd .....try and tell me the results.
  • #246
  • Nov 29, 2009 3:38am Nov 29, 2009 3:38am
Quoting ja5on
i see i see. i think i nv phrase my q properly one the one u are slping.
when u are slping right then u will miss a few trades. then will ur trades still be balance out? what u the time u slp are all the wins and the time u awake are the loses.
During night, the price doesn't move a lot (i'm in europe).
Big movements for me are in the morning and in the afternoon.
Usually, i don't miss trades during night because i have placed orders, but it's possible i miss few, it could be win trade or loss trade, i don't care.
when i wake up, i draw the candles, look at the previous candles and play the strategy.
  • #247
  • Edited 6:27am Nov 29, 2009 5:59am | Edited 6:27am
haha. i see! cool. mayb someone want to try it on US/cad also? i think their prices have quite some movement.
  • #248
  • Edited 7:55am Nov 29, 2009 6:08am | Edited 7:55am
Quoting JonJon92
Hi everyone I have follow this thread for a while (ok ok I have been following since yesterday and I like it). I notice that people been asking about the USD/JPY and I have backtest the USD/JPY using the the 50 pips methods and I don't know if I did it right but I followed it the same way I learned it on here and here are my result since Aug - Nov. It would only let me backtest to Aug on my meta trader for some reason but here are the results.

Aug: +50 pips
Sep: -150 pips
Oct: +150 pips
Nov: +200 pips

You don't earn as much as GBP/USD, but hey...
It's not better add more lots only to one currency that give more pips?...
....
If I know how, I tell You!! Few but Good!!
  • #249
  • Nov 30, 2009 1:18pm Nov 30, 2009 1:18pm
Zebulon,
For EUR/JPY (November) studies show 1150 pips....
Any experience with this pair?
  • #250
  • Nov 30, 2009 1:34pm Nov 30, 2009 1:34pm
Quoting kostas1
Zebulon,
For EUR/JPY (November) studies show 1150 pips....
Any experience with this pair?
Waouh !! i did some test, but gbp/usd was better. Months are different.
Maybe EUR/JPY had more volatility this month. That is necessary for the system works the best .
  • #251
  • Nov 30, 2009 1:37pm Nov 30, 2009 1:37pm
Now i 've finished the live test for november . We had 450 pips

I will begin december tomorow morning, watch the 3 previous candles and play the strategy .

Bye and good trades

zebulon
Attached Image (click to enlarge)
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  • #252
  • Nov 30, 2009 2:08pm Nov 30, 2009 2:08pm
Hi Zeublon

How did you tackle the issue of spread? From your live test it looks like you have not taken spread into account
  • #253
  • Nov 30, 2009 3:24pm Nov 30, 2009 3:24pm
Zedbulon,

Can you clarify the SL movement that you follow?
Looking in my chart when price crosses below red box-A we enter short with SL1 at -50 pips. When price crosses below red box-B we move to SL2 (breakeven). When price crosses below C you could:
a) Move to SL3 (50 pips profit) and your trade stops with the next blue box
b) Take profit at TP=100 pips profit but you miss a probable move lower as often happens.

Which option would you use?

Kostas
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy1.gif Size: 32 KB
  • #254
  • Nov 30, 2009 4:06pm Nov 30, 2009 4:06pm
Quoting logical
Hi Zeublon

How did you tackle the issue of spread? From your live test it looks like you have not taken spread into account
The spread is in the candle. I draw the candle when the sell price is hit when i'm in a uptrend.
  • #255
  • Nov 30, 2009 4:08pm Nov 30, 2009 4:08pm
Quoting kostas1
Zedbulon,

Can you clarify the SL movement that you follow?
Looking in my chart when price crosses below red box-A we enter short with SL1 at -50 pips. When price crosses below red box-B we move to SL2 (breakeven). When price crosses below C you could:
a) Move to SL3 (50 pips profit) and your trade stops with the next blue box
b) Take profit at TP=100 pips profit but you miss a probable move lower as often happens.

Which option would you use?

Kostas
a) i move to SL3, playing the down trend.
  • #256
  • Nov 30, 2009 4:53pm Nov 30, 2009 4:53pm
Zebulon,

Have you ever considered this pattern?

V A V A V A V A V
V A V A V A V A V

You will never win with this pattern if you follow the rules on post #1.

There is possibility it could happen !!!

Just a thought
  • #257
  • Nov 30, 2009 5:58pm Nov 30, 2009 5:58pm
Zebulon,

How about this other pattern ?

V
V
A

V
V
A

V
V
A

This pattern also will cause your system as disclosed on page #1 to fail.
What are your thoughts about this.
  • #258
  • Nov 30, 2009 10:18pm Nov 30, 2009 10:18pm
Quoting maxwell-eqtn
Zebulon,

Have you ever considered this pattern?

V A V A V A V A V
V A V A V A V A V

You will never win with this pattern if you follow the rules on post #1.

There is possibility it could happen !!!

Just a thought
You need to read the rest of the forum. In this pattern he would trade a ranged market so VAVAVAVAVA would be profitable.
  • #259
  • Dec 1, 2009 12:06am Dec 1, 2009 12:06am
Quoting maxwell-eqtn
Zebulon,

Have you ever considered this pattern?

V A V A V A V A V
V A V A V A V A V

You will never win with this pattern if you follow the rules on post #1.

There is possibility it could happen !!!

Just a thought
I think you mean : G= green, R=red
GRGRGRGR

That's a good range for us !
  • #260
  • Dec 1, 2009 12:16am Dec 1, 2009 12:16am
Quoting maxwell-eqtn
Zebulon,

How about this other pattern ?

V
V
A

V
V
A

V
V
A

This pattern also will cause your system as disclosed on page #1 to fail.
What are your thoughts about this.
This is GGR GGR GGR GGR, that is the bad pattern for the system creating our losses.
Usually, it is rare to find many consecutive GGR or RRG because the price is trending or ranging and so, we have more GGG or RRR than GGR in one month.
It is impossible that a system works in all cases without loss.
all we need is win > loss
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