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The SwingSpot Progressive System

  • #21
  • Jan 23, 2011 9:59pm Jan 23, 2011 9:59pm

Nzd/Usd

Here we have a textbook trade with 2 sets, normal 1st, 2nd, and final exits. It doesn't get any better than this unless you have more sets in the mix.


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  • #22
  • Edited 11:10pm Jan 23, 2011 10:14pm | Edited 11:10pm

Aud/Nzd

Here we have a questionable entry because the Laguerre is not at or below .5. Although it worked out in our favor, I might have passed on this trade because I like to try and stick to my rules, except we're dealing with a 4.40 positive swap rate, which is hard to pass up. Entering with a smaller lot size is the prudent and safe move here.


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  • #23
  • Edited 11:10pm Jan 23, 2011 10:21pm | Edited 11:10pm

Eur/Nzd

Here we had our first sell setup. This was just like Nzd/Usd as it is a textbook trade with 3 sets and normal 1st, 2nd, and final exits.


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  • #24
  • Edited 11:10pm Jan 23, 2011 10:29pm | Edited 11:10pm

Aud/Cad

Again, another perfect swing with 2 sets and normal exits. I would like to see the 2nd exit higher than the first, but it was positive trades all the way around, so it was fine. Boring, I know.


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  • #25
  • Jan 23, 2011 10:32pm Jan 23, 2011 10:32pm
The eurchf example you gave would have had a total of about 76 lots open right?
So how much capital are you recommending is required per pair traded?
  • #26
  • Edited 11:10pm Jan 23, 2011 10:49pm | Edited 11:10pm

Quote
The eurchf example you gave would have had a total of about 76 lots open right?
So how much capital are you recommending is required per pair traded?
I always recommend $10K for every lot you trade, but that also depends on the starting lot size you will use and the leverage you place on your account. If you use 100:1 you would need $760,000 or $76,000 using .1 lots. At 500:1, you'd only need $152,000 or $15,200 using .1 lots. I'm never using more than .1 lots per pair, but I also have over $280,000+ in a PAMM account to back it up. As you can see, most of the time you'll never see no more than 3-4 sets on a pair, the Eur/Chf is an extreme example. And if you have a pair like Eur/Chf, you also have positive pairs acting almost like a hedge to offset those drawdowns along with the positive swap per pair.

__________________________________


Aud/Jpy

Again, another great setup with 3 sets entered. 2 out of 3 trades from each set have been closed and are waiting for our final exit trigger for our remaining trades. Now, I haven't mentioned it but you could always set a stoploss at breakeven +50 or +100 pips as a safety net since you are so far away from the entry points. I like to just let it run, but the choice is always up to the individual trader.


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  • #27
  • Edited 11:11pm Jan 23, 2011 10:55pm | Edited 11:11pm

Aud/Chf

Here, the first set was not in profit at the first or second exit, so we closed all 3 trades in that set at the final exit. The second set was traded normally.


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  • #28
  • Edited 11:11pm Jan 23, 2011 11:00pm | Edited 11:11pm

Aud/Usd

Another textbook swing with 2 sets. Gotta love that 8.58 swap rate!


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  • #29
  • Edited Jan 24, 2011 12:45am Jan 23, 2011 11:09pm | Edited Jan 24, 2011 12:45am

Eur/Aud

Here we have another sell setup with 5 sets being placed. The first 4 sets were not in profit at the 1st exit so no trades were closed except 1 trade from the 5th set. 4 sets were profitable at the 2nd exit except for set 1, so we needed to close 2 trades each of those middle 3 sets and 1 more trade from set 5. All the remaining trades were closed at the final exit.


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  • #30
  • Jan 23, 2011 11:11pm Jan 23, 2011 11:11pm
Nearly all these indicators give me an "application not found" when I try to save them. I am quite sure it is me who is doing something wrong, but can anybody tell me what it is? Or post the kind of indicators that we normally save to the experts/indicators folder?

Quoting mer071898
Hello and welcome to the thread. I have been debating whether or not to put this up on the forums as I've wanted to let this go commercial nut have since decided against it. I have always been a proponent of long term trading because of many reasons like earning swap, less whipsaw action, less required screen time, etc... I really wanted to develop an easier daily system and have posted a few, but they're okay at best, meaning they have very good structure and they have the ability to produce profits, but are either too financially dependent (large...
  • #31
  • Jan 23, 2011 11:16pm Jan 23, 2011 11:16pm
Quote
Nearly all these indicators give me an "application not found" when I try to save them. I am quite sure it is me who is doing something wrong, but can anybody tell me what it is? Or post the kind of indicators that we normally save to the experts/indicators folder?

I don't know what to tell you. I just downloaded all the indicators and placed them in a different broker's indicator folder and they open and work fine for me.
  • #32
  • Jan 23, 2011 11:27pm Jan 23, 2011 11:27pm
I don't want to take up your thread with this problem, but I did want to post one screenshot in case anyone can see what the issue could possibly be. I do see it is trying to save it as a MQLEditor file, which doesn't seem right to me.

I have never had this happen, so I'm just asking if anybody knows what the problem is please tell me. I won't post any further on this so as to not be a distraction. Thank you. (See screenshot)
Attached File(s)
File Type: doc Indicator Error.doc   634 KB | 413 downloads
  • #33
  • Jan 23, 2011 11:48pm Jan 23, 2011 11:48pm
Hi Mer.
All of the entry points on the charts you have posted occur in Sep/Oct 2008, at the height of the global financial crisis. How far back have you backtested and how did the system perform prior to 2008?
  • #34
  • Jan 23, 2011 11:50pm Jan 23, 2011 11:50pm
Quoting Dreamliner
I don't want to take up your thread with this problem, but I did want to post one screenshot in case anyone can see what the issue could possibly be. I do see it is trying to save it as a MQLEditor file, which doesn't seem right to me.

I have never had this happen, so I'm just asking if anybody knows what the problem is please tell me. I won't post any further on this so as to not be a distraction. Thank you. (See screenshot)
Hey Dreamliner,

That looks like a virus. Try running an antivirus.

Hope that helps.
  • #35
  • Jan 24, 2011 12:23am Jan 24, 2011 12:23am
Problem fixed, so sorry for the distraction.
  • #36
  • Edited 12:57am Jan 24, 2011 12:42am | Edited 12:57am
Quote
Hi Mer.
All of the entry points on the charts you have posted occur in Sep/Oct 2008, at the height of the global financial crisis. How far back have you backtested and how did the system perform prior to 2008?
All you have to do is go back in the charts to see how it did. Some examples, the first chart was back in 2001 and the second in 2005. You may need to change the max bars in the Laguerre to see it perform that far back. With limited data available from the brokers, it is tough to evaluate this system as you may only have 3-4 trades taken in the past 8-10 years. The global crisis in the past few years did not affect the forex market as it did with the stock and mutual fund market.
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  • #37
  • Jan 24, 2011 12:43am Jan 24, 2011 12:43am
Quoting Jascat
Hi Mer.
All of the entry points on the charts you have posted occur in Sep/Oct 2008, at the height of the global financial crisis. How far back have you backtested and how did the system perform prior to 2008?
The global financial crisis might have created ideal (better than usual) entry points, but the principle of trading with the rate in your favor is the key. You obviously want to pick out spots on the "big" charts where you can catch a big swing, but even if you don't or are stuck in drawdown, the interest should eat into drawdown and provide greater profit when you do decide to begin exiting your sets.

It's also a good idea to pick multiple pairs with favorable swaps, even if it means taking lower swap (but still positive).
  • #38
  • Jan 24, 2011 12:48am Jan 24, 2011 12:48am
Quote
The global financial crisis might have created ideal (better than usual) entry points, but the principle of trading with the rate in your favor is the key. You obviously want to pick out spots on the "big" charts where you can catch a big swing, but even if you don't or are stuck in drawdown, the interest should eat into drawdown and provide greater profit when you do decide to begin exiting your sets.

Great point, which is really the main premise of the strategy, to alleviate or minimize losses with the free money the brokers hand to you.
  • #39
  • Jan 24, 2011 1:12am Jan 24, 2011 1:12am
Quoting mer071898
Great point, which is really the main premise of the strategy, to alleviate or minimize losses with the free money the brokers hand to you.
mer you said you use gomarkets for charts, could you tell us which broker you trade this live because I'm sure you must have zeroed in on a broker who gives the most attractive swap rates.

thx again
  • #40
  • Jan 24, 2011 2:17am Jan 24, 2011 2:17am
Quoting mer071898
All you have to do is go back in the charts to see how it did. Some examples, the first chart was back in 2001 and the second in 2005. You may need to change the max bars in the Laguerre to see it perform that far back. With limited data available from the brokers, it is tough to evaluate this system as you may only have 3-4 trades taken in the past 8-10 years. The global crisis in the past few years did not affect the forex market as it did with the stock and mutual fund market.
The effect of the gfc on the forex market was the rapid unwinding of the carry trade and rise in value of the 'safe haven' USD. The result was the high yield/high risk currencies such as AUD and NZD became undervalued and the subsequent flow of money back into these currencies is the reason they have been in such a nice uptrend in the last two years, i.e. the majority of investors have been doing exactly as is the premise of your system and investing so as to recieve a positive rollover. A similar scenario occurred in 2001 after the Sep 11 attacks.
There's no doubt it is a good, profitable system/strategy and its value is probably more in the management of positions once you are in, than in finding entries. But with three entries per 10 years, resulting from extreme fundamental events, it's not something you would rely on for a regular income is it?
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