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A simple strategy with no indicators

  • #301
  • Aug 17, 2010 6:13pm Aug 17, 2010 6:13pm
well folks, the eur/jpy short position that i had open (according to yesterdays signals), has not done well. it was stopped out at -100 pips !

this unfortunately means that whatever profit i made in the trades from last week, are now completely wiped out with just one loss. iam in the black.

beginng to doubt if this system really will work or not.
  • #302
  • Aug 17, 2010 6:44pm Aug 17, 2010 6:44pm
Quoting whatfx
well folks, the eur/jpy short position that i had open (according to yesterdays signals), has not done well. it was stopped out at -100 pips !

this unfortunately means that whatever profit i made in the trades from last week, are now completely wiped out with just one loss. iam in the black.

beginng to doubt if this system really will work or not.
better off shooting dice!
  • #303
  • Aug 17, 2010 9:04pm Aug 17, 2010 9:04pm
Quoting whatfx
well folks, the eur/jpy short position that i had open (according to yesterdays signals), has not done well. it was stopped out at -100 pips !

this unfortunately means that whatever profit i made in the trades from last week, are now completely wiped out with just one loss. iam in the black.

beginng to doubt if this system really will work or not.
I am also seeing two black days with nine signals traded on demo. I try to keep in mind that this happens, even with strong trading systems. But yes, it is discouraging.

Many traders see potential outside the basic rules. More discussion tomorrow.
  • #304
  • Aug 18, 2010 3:06am Aug 18, 2010 3:06am
i entered two trades last night. gbp/usd sell, and eur/jpy buy.

the gbp/usd i got out at + 30 pips. and the eur/jpy is currently down - 60 pips. not looking very good.

this system really needs to be tweaked, as on its own it does not seem to be working very well.
  • #305
  • Aug 18, 2010 5:43am Aug 18, 2010 5:43am
Quoting whatfx
i entered two trades last night. gbp/usd sell, and eur/jpy buy.

the gbp/usd i got out at + 30 pips. and the eur/jpy is currently down - 60 pips. not looking very good.

this system really needs to be tweaked, as on its own it does not seem to be working very well.
i dont think every system will work on every pair. you need to do some kind of test/verification before taking trades.

someone mentioned it gave good returns on gbpjpy with 30 tp, 100 sl, can you try this ?
  • #306
  • Aug 18, 2010 8:00am Aug 18, 2010 8:00am
Quoting roundrock
i dont think every system will work on every pair. you need to do some kind of test/verification before taking trades.

someone mentioned it gave good returns on gbpjpy with 30 tp, 100 sl, can you try this ?
Hi round i think 100 sl and 30 tp is not good @ all. riking too much for very little. can someone really trade that on real money?.plz just suggesting,no offence
  • #307
  • Aug 18, 2010 8:04am Aug 18, 2010 8:04am
13:00 GMT

Your most recent posts are very constructive. Searching for reasons why a trade is not working helps us tweak the system. And I agree with many traders' remarks that this system could benefit by diverging from the basic rules.

Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 11 KB

Here's the current trade

Attached Image (click to enlarge)
Click to Enlarge Name: eurjpydaily.gif Size: 12 KB

Here's the bigger picture

All comments would be welcome!
  • #308
  • Aug 18, 2010 10:44am Aug 18, 2010 10:44am
Quoting devogel
13:00 GMT

Your most recent posts are very constructive. Searching for reasons why a trade is not working helps us tweak the system. And I agree with many traders' remarks that this system could benefit by diverging from the basic rules.

Attachment
Here's the current trade

Attachment
Here's the bigger picture

All comments would be welcome!
I am in the EJ short trade too and have been since Monday. At one point I was down 110 pips and am down 50 pips now. I am trading live on a small account with FXDD. As the big trend is down and the weekly trend is down, I am going to stay with the trade. I believe a SL of 100 pips trading on a daily chart is too tight. Just my 2 pips worth!
  • #309
  • Aug 18, 2010 11:03am Aug 18, 2010 11:03am
Quoting lawgirl21
I am in the EJ short trade too and have been since Monday. At one point I was down 110 pips and am down 50 pips now. I am trading live on a small account with FXDD. As the big trend is down and the weekly trend is down, I am going to stay with the trade. I believe a SL of 100 pips trading on a daily chart is too tight. Just my 2 pips worth!
Your "2 pips worth" is most appreciated and welcome here. Normally I would agree with your assessment of the SL as does Billy Williams who opines that such a SL leads to Death by a Thousand Small Cuts. However, the rules in this thread require us to close the trade before end of the daily candle, so it is a sort of semi-scalping system that signals on the daily.

That may change as we explore tweaks to the rules. So, again, thanks much for your contribution, welcome in here any time, and many pips to you!

Regards
  • #310
  • Aug 18, 2010 5:08pm Aug 18, 2010 5:08pm
G / U = + 50pips

U / CAD = + 10pips

N / U = - 9pips
E / J - cancelled


A / J - cancelled
  • #311
  • Aug 18, 2010 5:36pm Aug 18, 2010 5:36pm
Quoting zeCarvalho
G / U = + 50pips
U / CAD = + 10pips
N / U = - 9pips
E / J - cancelled
A / J - cancelled
Good going! Not so bad for one day's work.

No signals at 21:00 GMT.
  • #312
  • Aug 18, 2010 5:49pm Aug 18, 2010 5:49pm
[quote = devogel ; indo 3958628 ] Bom dia! Não é tão ruim para um dia de trabalho .

Nenhum sinal às 21:00 GMT. [/ quote]



tonight don't exist possible signs
  • #313
  • Aug 18, 2010 7:32pm Aug 18, 2010 7:32pm
well, here are the pips i made in the last two weeks trading this system:

+ 30

+ 30

- 100

+ 30

- 27 (today)


so overall iam down by - 37 pips. surely this cannot be a winning system ?

just like the two other system ashraf has posted which have now become defunct and non tradable, this one seems to be heading the same way. especially when ashraf seems to have dissapeared.
  • #314
  • Aug 19, 2010 9:56am Aug 19, 2010 9:56am
To all traders still viewing,

This post is a bit off-topic but seems fitting.

I agree with recent posts that Ashraf's system has been thoroughly discussed and is not much of a winner when traded precisely by his rules. Thus, this post will likely be my last here.

I've learned a lot in this thread thanks to many constructive contributors. IMO, Ashraf's candle pattern shows potential when used in other ways.

A prime example is charvo suggesting and explaining "floating equity" on posts 275 281 & 283. He generously followed through by providing an EA that supports his remarks. Pictures being worth thousands words, see the interesting tester graph below.

I wish you all many pips as we go our separate ways, and look forward to exchanging ideas in other places.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_H4_TesterGraph.gif Size: 19 KB

One year test of floating equity using Ashraf's candle pattern on EURUSD 4 hour TF


Best regards,
devogel
  • #315
  • Aug 19, 2010 1:29pm Aug 19, 2010 1:29pm
from what i can see, although the pattern does often hold up, it does require discretion on the trader's part.
  • #316
  • Aug 19, 2010 1:30pm Aug 19, 2010 1:30pm
woaaah, why does the curve go so steep north at the end?
  • #317
  • Aug 24, 2010 4:33am Aug 24, 2010 4:33am
is anyone still trading this system ? what results have you had ?
  • #318
  • Aug 24, 2010 5:40am Aug 24, 2010 5:40am
Quoting whatfx
is anyone still trading this system ? what results have you had ?
Yes, still playing with it, but ignoring a couple of the system rules. Use daily and 4H. Change money management to floating equity, and move the stops on winning positions.

Too soon to assess results. no TP is a long term strategy. Looks promising.

Here's a long, interesting read:

http://www.forexfactory.com/showthread.php?t=245149
  • #319
  • Aug 24, 2010 5:44am Aug 24, 2010 5:44am
Quoting devogel
Yes, still playing with it, but ignoring a couple of the system rules. Use daily and 4H. Change money management to floating equity, and move the stops on winning positions.

Too soon to assess results. no TP is a long term strategy. Looks promising.

Here's a long, interesting read:

http://www.forexfactory.com/showthread.php?t=245149
Do you think this set-up wins more than 50% of the time?
  • #320
  • Aug 24, 2010 6:22am Aug 24, 2010 6:22am
Quoting devogel
Yes, still playing with it, but ignoring a couple of the system rules. Use daily and 4H. Change money management to floating equity, and move the stops on winning positions.

Too soon to assess results. no TP is a long term strategy. Looks promising.

Here's a long, interesting read:

http://www.forexfactory.com/showthread.php?t=245149

which system rules are you ignoring ? and what is floating equity ?
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