Thanks tradestar 
I'm getting there!
Kind Regards
Steve
I'm getting there!
Kind Regards
Steve
That is ABSOLUTELY EXCELLENT Steve.... Way to go.....
- #4,222
- Oct 1, 2010 12:54pm Oct 1, 2010 12:54pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Hey there Mike!
It's always an honour to see you visit
Yes, we are all well thanks - hope you & yours are too
Kind Regards as always
Steve
It's always an honour to see you visit
Yes, we are all well thanks - hope you & yours are too
Kind Regards as always
Steve
way to go Steve, never had doubts with you though my old friend
Hope you and the family are well
- #4,223
- Oct 1, 2010 12:58pm Oct 1, 2010 12:58pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Hey Dan
It's coming to an end with this month's results but it's been fun while it lasted!
I was very green at the start of the journal & knew next to nothing lol. Been through a lot of trials and tribulations but starting to believe that I know a little more now and found my own method that works for me.
Kind Regards
Steve
It's coming to an end with this month's results but it's been fun while it lasted!
I was very green at the start of the journal & knew next to nothing lol. Been through a lot of trials and tribulations but starting to believe that I know a little more now and found my own method that works for me.
Kind Regards
Steve
Hey Stevie
Thank you for sharing your experience.
Your public journal is very interesting - please continue posting on occasion that you have the time.
Dan
- #4,224
- Oct 1, 2010 1:13pm Oct 1, 2010 1:13pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Hi P,
I'm not sure if I was clear on position size when we chatted on here earlier in the year but essentially not a lot has changed.
From November until April I was only using 50sma but from May have also used 50ema too and opened 2 new positions each month. These positions are half the size of when I used just the 50sma as guide.
Each position equates to 1% or thereabouts for 50 pips. No stop loss is used on these - a daily close the other side of either or both ma's means I close manually and re-open new positions the other way.
I only realised the power of also adding on positions midway through the year and therefore lost out on the fall from 1.5 area to just below 1.2. It's been a really trendy twelve months on EU and rather than the 73% gain made so far, we would have been looking at well in excess of 200% by using add-ons from day 1. These add-ons have a strict 1% stop loss of 50 pips.
You need real patience and discipline to trade this method but so far I've handled all that it's thrown at me and come out the other side on top & smiling
It's easy trading this method with hindsight (manual backtesting) but very very different trading it live! Anyway I think I've grown a great deal this last year - it's not easy, it never is lol.
Kind Regards
Steve
I'm not sure if I was clear on position size when we chatted on here earlier in the year but essentially not a lot has changed.
From November until April I was only using 50sma but from May have also used 50ema too and opened 2 new positions each month. These positions are half the size of when I used just the 50sma as guide.
Each position equates to 1% or thereabouts for 50 pips. No stop loss is used on these - a daily close the other side of either or both ma's means I close manually and re-open new positions the other way.
I only realised the power of also adding on positions midway through the year and therefore lost out on the fall from 1.5 area to just below 1.2. It's been a really trendy twelve months on EU and rather than the 73% gain made so far, we would have been looking at well in excess of 200% by using add-ons from day 1. These add-ons have a strict 1% stop loss of 50 pips.
You need real patience and discipline to trade this method but so far I've handled all that it's thrown at me and come out the other side on top & smiling
It's easy trading this method with hindsight (manual backtesting) but very very different trading it live! Anyway I think I've grown a great deal this last year - it's not easy, it never is lol.
Kind Regards
Steve
Hi Steve,
Good to see you had a good month.
Why did you open two long positions?
Also have you changed your position sizing from 100 pips per 1%
Thank
P
- #4,226
- Oct 1, 2010 1:33pm Oct 1, 2010 1:33pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Cheers Stew
Good trading
Good trading
GL Steve - keep it up.
- #4,229
- Oct 2, 2010 2:38pm Oct 2, 2010 2:38pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Thanks Josh
Hi Steve,
Always interested in your progess.Great job keep it up!!... Josh
- #4,230
- Oct 2, 2010 2:45pm Oct 2, 2010 2:45pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Hey Jay!
I was so pleased when you decided to start your journal again and give this thing another go
I see you've already had a few good months (better than me
) and I know that you have it in you to be consistently profitable long term.
October will almost certainly be my last month with the journal - lol, it was only ever going to be a year & here we are over 4 years later. However, I'll still be around and I'll be looking in on your progress!
Great to see you pop in here & speak soon no doubt.
Steve
I was so pleased when you decided to start your journal again and give this thing another go
I see you've already had a few good months (better than me
) and I know that you have it in you to be consistently profitable long term.October will almost certainly be my last month with the journal - lol, it was only ever going to be a year & here we are over 4 years later. However, I'll still be around and I'll be looking in on your progress!
Great to see you pop in here & speak soon no doubt.
Steve
Hey, Steve.
You are the reason i'm back at it. The thing that i aspire to emulate is your long view and your patience. 74% for 11 months. THAT is what I am interested in. My hope is to see 50% over 12 months.
Thanks for continuing to post your results... keeps me motivated.
Jay
Hey, Steve.
Nooooooooooooooooooooooooo... please don't go. Actually, I understand... maybe. You are such a good guy that you have all these friends... so you post your results and you get a bunch of folks who want to stop in and congratulate you. So you feel like you need to respond... which i think you enjoy... but it is a fair amount of work.
Or maybe it is just your plan.
But whatever the reason, i am sure going to miss your posts. You wouldn't reconsider, would you?
Jay
Nooooooooooooooooooooooooo... please don't go. Actually, I understand... maybe. You are such a good guy that you have all these friends... so you post your results and you get a bunch of folks who want to stop in and congratulate you. So you feel like you need to respond... which i think you enjoy... but it is a fair amount of work.
Or maybe it is just your plan.
But whatever the reason, i am sure going to miss your posts. You wouldn't reconsider, would you?
Jay
Hey Jay!
I was so pleased when you decided to start your journal again and give this thing another go
I see you've already had a few good months (better than me
October will almost certainly be my last month with the journal - lol, it was only ever going to be a year & here we are over 4 years later. However, I'll still be around and I'll be looking in on your progress!
Great to see you pop in here & speak soon no doubt.
Steve
- #4,232
- Oct 6, 2010 12:17pm Oct 6, 2010 12:17pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
LOL Jay,
We'll see - it's just now that I only trade daily exclusively, things can get a bit boring around here, not that boring is bad, it's very profitable in fact
Still holding EU long add-on from 1.28693 (stop loss now just above 1.30 - it's a patience game). Also two new positions taken and holding long from 1.36317
Lets see if this thing can break 1.40 and hold - will be a nice month if it does.
Kind Regards
Steve
We'll see - it's just now that I only trade daily exclusively, things can get a bit boring around here, not that boring is bad, it's very profitable in fact
Still holding EU long add-on from 1.28693 (stop loss now just above 1.30 - it's a patience game). Also two new positions taken and holding long from 1.36317
Lets see if this thing can break 1.40 and hold - will be a nice month if it does.
Kind Regards
Steve
Hey, Steve.
Nooooooooooooooooooooooooo... please don't go. Actually, I understand... maybe. You are such a good guy that you have all these friends... so you post your results and you get a bunch of folks who want to stop in and congratulate you. So you feel like you need to respond... which i think you enjoy... but it is a fair amount of work.
Or maybe it is just your plan.
But whatever the reason, i am sure going to miss your posts. You wouldn't reconsider, would you?
Jay
What I do is close the previous months positions (they were long from 1.28776) at month end which I did at 1.36292 and 1.36285.
As price was still above daily 50sma & ema, 2 new positions were immediately opened at 1.36317.
The 'add-on' position was activated at 1.28693 just after NY close on 13th September with a 50 pip stop loss. This will not be closed until the stop loss is hit - it maybe days, weeks or months. Stop loss is moved at the end of each day to 50 pips below the ma it was taken from (in this case the sma). The stop loss on...
Keep up the good work.
- #4,237
- Oct 7, 2010 1:49am Oct 7, 2010 1:49am
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Hey
Just seen this post but literally heading out of the door for work.
I'll answer in detail later upon my return.
Kind Regards
Steve
Just seen this post but literally heading out of the door for work.
I'll answer in detail later upon my return.
Kind Regards
Steve
Hi Steve,
First time poster in this thread. Looks like I'm late to the party! I've read your 50 sma/ema strategy and it's simple but effective. You explained the method pretty clearly but I just want to clarify a few points:
1. Say we're in an uptrend and price is above the 50 sma. Then price comes down near the sma and you have an add-on (long) triggered on day 1. Then on day 2 price closed 20 pips below the sma. According to your strategy you would closed your primary trade (long) and immediately open a short trade. Would you have closed the...
- #4,238
- Edited 1:20pm Oct 7, 2010 1:10pm | Edited 1:20pm
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Hi there
OK, hopefully this will clarify things...
Kind Regards
Steve I'd have kept the first add-on and opened a new short limit order as well. Yes, primary trade would've been closed and a short opened immediately. Remember I also use 50ema as well.
Yes, absolutely correct!
OK, this is where I need to clarify. Each day a new limit order is set for the add-ons, whether previous add-ons have been stopped out or not.
Ranging on the pair is not necessarily a problem as long as price is not straddling the ma's - there was a 4 week period from mid December 2009 to mid January 2010 where price consolidated in a tight range. It also did from early February to mid March this year.
However, ranging around the ma's can be a double edged sword. When you are trading through it, it's like how I imagine being spun around in a washing machine would feel like and its a case of keeping your head. Of course, price eventually finds a new direction and hopefully a few add-ons have been triggered. On this last occasion I only had one add-on triggered but that's currently up over 1000 pips. Imagine if there were 2,3, 4 or more add-ons? On top of that the 2 primary positions have also netted pips. That's where the method becomes very powerful.
Of course, like any trend based method it loses on the change of bias from short to long and vice versa. However, the add-ons make sure I can take full advantage when a trend is in place.
I see you are using charts without a Sunday bar - very important as it makes a huge difference to the ma's. My broker has Sunday bars but I also keep a demo with another broker without Sunday bars for my calculations.
My pleasure - hope that helps.
Edit - I see you posted on Old Not Dead's thread - a real classic for those that missed it - shame he hasn't posted in months
http://www.forexfactory.com/showthread.php?t=238442
OK, hopefully this will clarify things...
Kind Regards
Steve
Hi Steve,
First time poster in this thread. Looks like I'm late to the party! I've read your 50 sma/ema strategy and it's simple but effective. You explained the method pretty clearly but I just want to clarify a few points:
1. Say we're in an uptrend and price is above the 50 sma. Then price comes down near the sma and you have an add-on (long) triggered on day 1. Then on day 2 price closed 20 pips below the sma. According to your strategy you would closed your primary trade (long) and immediately open a short trade. Would you have closed the...
2. Follow the above scenario and assume you haven't closed the add-on yet. Now you have a long add-on and a primary short position. I assume you'll also set a limit order to sell 10-pip below the sma. Now it's beginning of day 3 and price isn't moving much but retraces up just enough to trigger the short add-on. So theoretically you could have a long add-on and a short add-on open at the same time (though probably for a short period of time until either one is stopped out)?
3. Once you've entered an add-on, will you space out additional add-on entries? See the attached chart as an example. EUR/USD closed below the 50 sma on 8/20. Then later on there are 3 consecutive days where price retraced up near the sma. Would you have entered all 3 add-ons or just 1 and wait for it to go well into profit before the next opportunity appears to add the 2nd one?
Ranging on the pair is not necessarily a problem as long as price is not straddling the ma's - there was a 4 week period from mid December 2009 to mid January 2010 where price consolidated in a tight range. It also did from early February to mid March this year.
However, ranging around the ma's can be a double edged sword. When you are trading through it, it's like how I imagine being spun around in a washing machine would feel like and its a case of keeping your head. Of course, price eventually finds a new direction and hopefully a few add-ons have been triggered. On this last occasion I only had one add-on triggered but that's currently up over 1000 pips. Imagine if there were 2,3, 4 or more add-ons? On top of that the 2 primary positions have also netted pips. That's where the method becomes very powerful.
Of course, like any trend based method it loses on the change of bias from short to long and vice versa. However, the add-ons make sure I can take full advantage when a trend is in place.
I see you are using charts without a Sunday bar - very important as it makes a huge difference to the ma's. My broker has Sunday bars but I also keep a demo with another broker without Sunday bars for my calculations.
Sorry for the long-winded questions...
Edit - I see you posted on Old Not Dead's thread - a real classic for those that missed it - shame he hasn't posted in months
http://www.forexfactory.com/showthread.php?t=238442
Thanks for the detailed reply. I came up with these questions when I tried to do backtest on this method. Before that I thought I had it all figured out! LOL.
Speaking about backtest, you mentioned in this post that you have done it all the way back to 1999. Was it for the primary strategy only or was the add-on strategy included as well?
P.S. Oh yes I agree there's a lot of wisdom in OND's thread. Hopefully he'll be posting again. Hey, hopefully you'll stay in your thread and continue to post too!
Speaking about backtest, you mentioned in this post that you have done it all the way back to 1999. Was it for the primary strategy only or was the add-on strategy included as well?
P.S. Oh yes I agree there's a lot of wisdom in OND's thread. Hopefully he'll be posting again. Hey, hopefully you'll stay in your thread and continue to post too!
Hi there
OK, hopefully this will clarify things...
Kind Regards
Steve
- #4,240
- Oct 8, 2010 6:30am Oct 8, 2010 6:30am
- Joined Jun 2006 | Status: Trader | 2,512 Posts
Yes I have backtested this manually with add-ons back to 1999.
However, what I would say is that even backtesting on the daily is not 100% accurate....
As you will know the ma's do move a few pips each day depending on price movement so you can never be absolutely certain whether an add-on would have been triggered or stopped out. Sometimes these things go down to a tenth of a pip & makes a difference between having a position triggered or stopped that may have run for hundreds or even thousands of pips.
There is no substitute for forward testing and only by doing it will one know whether one has the discipline and patience to trade it live.
Anyway, NFP day today - let's see how this shakes things up.....
Kind Regards
Steve
However, what I would say is that even backtesting on the daily is not 100% accurate....
As you will know the ma's do move a few pips each day depending on price movement so you can never be absolutely certain whether an add-on would have been triggered or stopped out. Sometimes these things go down to a tenth of a pip & makes a difference between having a position triggered or stopped that may have run for hundreds or even thousands of pips.
There is no substitute for forward testing and only by doing it will one know whether one has the discipline and patience to trade it live.
Anyway, NFP day today - let's see how this shakes things up.....
Kind Regards
Steve
Thanks for the detailed reply. I came up with these questions when I tried to do backtest on this method. Before that I thought I had it all figured out! LOL.
Speaking about backtest, you mentioned in this post that you have done it all the way back to 1999. Was it for the primary strategy only or was the add-on strategy included as well?
P.S. Oh yes I agree there's a lot of wisdom in OND's thread. Hopefully he'll be posting again. Hey, hopefully you'll stay in...