Dislikedhold up, you have a whole load of rules here please can you post whatever your rules are? please dont refer me to post 1.
i.e. from what you have said so far
1. take close of NY for close value
2. take 50% figure in monthly phase for monthly value
3. take lower break 1 - 7 for entry use target for TP
4. take higher break 1 + 7 for entry use target for TP
5. if break and target are same then we use that figure and target of break 2
6. trades can run at ANY market time
7. trades can run until they either reach TP or or stopped
is that correct?...Ignored
Aboonacci System - for EUR/USD prediction
- #772
- Sep 28, 2010 7:37am Sep 28, 2010 7:37am
ok
i got
Date...
You have to remember, these were not nessesarily 24/5 trades. Providing you can be at the machine at 10pm UK time (11.45 close candle on FxPro) then you can set your Pending Orders.
If the strategy works and you have confidence in it, then isn't this something you would do? You do not have to manualy trade all of the time.
Infact, with this strategy, the only differene between manual trading and auto trading (PO's) is that you will make some emotional/eductated decisions on when to enter or when to exit - for better or worse.
There will obviously be losses, take last night as an example. But as I mentioned in my post earlier, there are ways around this...... I beleive two PO's, north and south would fix it, but again, there will always be days when it didnt work to well.
Some observations that LL and I have made is that sometimes the difference between the 10pm (11.45) close and the Monthly sentiment is going to be zero (or very small) and it was during these times that strategy didnt work when it was tested. HOWEVER, if you wait for a move, because lets face it, there will always be a move somewhere - no matter how small, then you can recalculate.
Yesterday as an example, Friday nights close and monthly sentiment indicated that there would not be much of a move. So, in the morning, I didnt trade. However, after some movement downwards - 60 pips from open, I recalculated and it was then shown that there should be some northwards move. So I traded. I made two trades, one with the calculator and another based on my own trading strategy (one that was taught to me be LL). I made 50 pips on my own and 41 pips on the Abonacci.
I won't go to much into the testing because I know that LL will be posting some information on it at some point, but suffice to say, that if you have a strategy that works AND you have faith in it, why wouldn't you use PO's........... and....... if it does work that well, then lets face it, whatever you do in life, you WILL make sure you are at the machine at 10pm!
Personaly, I don't see the big 'thing' about the day's close. I am sure this is down to ignorance of the strategy, but if you can recalculate at anytime then why is 10pm so important.............having said that, the results from the backtesting prove that it is perhaps pivital to the strategy! Work that one out
.Lee
- #773
- Sep 28, 2010 7:38am Sep 28, 2010 7:38am
Why are some of you changing calculator values?
It says we were suposse to enter close of the yesterday+50% of the current faze. Pivot is supose to be the same for the day.
So per rules, right now, the target is 1.3506, after the .3453 was broken
Have you read the entire thread? I only ask because Bobi does state that you can recalculate at any time. In order to do this, what WAS last nights close then becomes the swing high/low.
Peoples 50% of current phase may have changed, but that was because we entered the lower phase earlier today.
The question still remains though, how does one get the base level prior to the 1st of the month?
). Or rather, it's not how you get it before the 1st of the month, you have to wait for the whole month as you need the whole months range. The question is, at this stage, are you able to get it yourself or is Bobi the only person who can give it to you................Thinking about it, if the month is ending and you are in the middle of a large range, then it is probably safe to say you know what the range is, however it will be of no benefit to you as you will still be trading in the current month and using the previous months range?
Lee
