Dislikeddo you have a crystal ball that tells you when the range is going to break?Ignored
Chart:
So in my opinion this is not a "hot hand". (Today, at least)
Gone to a better place
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Dislikeddo you have a crystal ball that tells you when the range is going to break?Ignored
DislikedMorning everybody (or afternoon,or evening)
These trades were the maximum the trend would allow,but you have got me thinking maybe i might have missed some winning ibs because i like to leave a bit of a gap before i put on another possition.I will go back over my charts and see if i have missed any.Ignored
DislikedJust to clarify what razorboy is saying (and he is so right), the title of this thread could just have as easily been DOBS (Daily Outside Bar Setup)Ignored
DislikedYeah, manual and foward test, there is no any back test provide the real result,
TipTopIgnored
DislikedJust to clarify what razorboy is saying (and he is so right), the title of this thread could just have as easily been DOBS (Daily Outside Bar Setup) or any other formation you like that allows you to very simply quantify entry and risk. Profit is what you leave up to the market. I make a point to pay myself as the market makes some money available to me - but this means a higher initial risk on both winning and losing trades. It's up to you. Figure it out and stick to it.
People keep questioning this because they just can't swallow the answer:...Ignored
DislikedJust to clarify what razorboy is saying (and he is so right), the title of this thread could just have as easily been DOBS (Daily Outside Bar Setup) or any other formation you like that allows you to very simply quantify entry and risk. Profit is what you leave up to the market. I make a point to pay myself as the market makes some money available to me - but this means a higher initial risk on both winning and losing trades. It's up to you. Figure it out and stick to it.
People keep questioning this because they just can't swallow the answer:...Ignored
Dislikedsinner thanks for this good idea in this you have mentioned only in the direction of LO can you please tell me what is LO ? thanksIgnored
Dislikedin my testing, i took every IB, so in the case where there may be 2 or 3 ib's in a row - a pennant - I took each IBIgnored
DislikedEur/usd results 4hr bars jan 2001-jan 2004
Total trades= 210
Winning trades=16( 3 trades still open.)
Losing trades=194Ignored
DislikedI backtested GBPUSD, EURUSD, AUDUSD, USDJPY, EURGBP, H4 TF. Out of 21 years 3 were losers, 2BE, and 15 winning years. My entry and exit rules were slightly different than sinners, but overal this strategy might work, but I would never risk 1% per entry, maybe 0.5%, from beginning even less.Ignored
Disliked...Why are all the people backtesting here doing it on H4? Doesn't make much sense to me personally. DIBS is useful because it shows both consolidations and lower TF 1-2-3s around the open, what is a H4 IB supposed to show that fits in with DIBS? How did you test EURUSD for 21 years?Ignored
DislikedThe risk I specified is definitely not 1% it is volatility adjusted. Change the 1% to any number you feel comfortable with. It's not exactly turtle sizing, but close. Not like Richard Dennis was the first one to think of that position sizing equation.
smikester, I can't believe you are serious so going to ignore your post. I spent ages writing posts in this thread to try and help people. If you can even point out one single line of "misinformation" I've posted I'll eat my hat.
Why are all the people backtesting here doing it on H4? Doesn't...Ignored
Disliked2 superb complimentary DIBs trades this morning, EUR/USD and USD/CHF let's see if they pan out.
This is the break out from the range I mentioned earlier.
By the way, 4 hour bars have nothing to do with this thread.Ignored
Disliked
Why are all the people backtesting here doing it on H4? Doesn't make much sense to me personally. DIBS is useful because it shows both consolidations and lower TF 1-2-3s around the open, what is a H4 IB supposed to show that fits in with DIBS? How did you test EURUSD for 21 years?Ignored