DislikedCGRey do you have your backtest result.
I tried to do 2 years back test but no luck so far...
Ignored
You should read some of the books mentioned in Razorjacks thread. The book be Ashraf Laidl (proper spelling) is very good at explaining how most of the different markets interact.
As for my trading I'm at the point of not losing much and having runs of consistency. A while to go yet, but I'm in no rush. I want to take my time and do it properly.
Nothing at all wrong with that approach. The markets will still be here tomorrow, next week and next year. And you are clearly on the right path.
Before I go, another reason I posted here on this thread for the first time, was because I thought you might be Razorjack
A LOT of what he posted in the first few pages really hit home with me, he just seems to be able to present it much better than I could hope to.Keep up the good work and I wish all the best in your trading. You said you were made redundant, sometimes I think that would give me the push that I need. Not for now though.
Check out some of these books. They will help your study, and also be another distraction.
- #189
- Jan 28, 2011 10:58am Jan 28, 2011 10:58am
- Joined Oct 2008 | Status: Sailing for pips | 2,099 Posts
Hi dryclean,
We always close the trade if it remains open at 09:00. So, no, we didn't hit the goal today, but we did collect about 10 pips toward it.
The thread isn't going anywhere. I'll just be moving "results" to a journal to keep the topic about discussion. Being as simple a system as it is, there really isn't a lot of discussion. The entries and exits are clearly defined, and there's no interpretation about whether something crossed, or "did I read this right". So, discussion hasn't been as busy as some other "system" threads, and that's fine with me But in any case, I'm not closing the thread - just moving future results out of it.
I had a post earlier that really simplified the calculation. While it would be only very slightly less accurate (mostly due to compounding), the easiest way to go is to simply set your monthly target to 80 pips and stop when you're at +80 for the month. Just make sure your SL is always 20, and you don't change your lot size during the course of the month, and recacluate at the start of the next month. When you hit +80pips you will be right around +10% for the month - assuming, of course, that you had accurately calculated 2.5% of your balance to be worth 20-pips at the start of the month.
Good luck. Hopefully it will provide another tool for people to use.
Just got on board.
Looks like you hit the monthly goal today!
If I'm doing it right 3 hrs after the 8 hr candle it was up about 60 an hour later it spiked up about 90 from the 8 hr candle
Too bad shutting down the thread. I will follow your journal.
But in any case, I'm not closing the thread - just moving future results out of it.I'm going to see if I can play around and get a spread sheet to do the calcs although not that hard to figure manually
Good luck. Hopefully it will provide another tool for people to use.
- #192
- Jan 28, 2011 12:15pm Jan 28, 2011 12:15pm
- Joined Oct 2008 | Status: Sailing for pips | 2,099 Posts
Thanks again roundrock for making me aware of Oanda's MT4.
I managed to get a practice account set up today, so I can run this parallel with them in Februrary to be sure it is doing the same thing as the IBFX demo I ran this month.
This also got me thinking more about starting the journal thread.... The point of my posting results in this thread has been to make sure people can see how I'm doing the math every day. I think there are enough examples that it should be pretty clear by now. The link I've posted in the first post to the myfxbook tracking site for this system contains every trade, past, present and future and is updated in nearly real-time. So, I'm really wondering if a journal here is necessary at all. I'll have to ponder that one. It's not as though I'd have any analysis or other thoughts contributing to how I arrived at placing any trade.
On a positive note, what we've done here so far with one trading day left in January is the second time around this month for this system. Starting from the first actual trading day of the month (January 3rd), we would have been out with our 10% four days later and had a pretty boring month, having hit our target so soon. No matter what happens on Monday, we will still end up positive for all the rest of the trades in the month that we would have never even made. The worst we can do Monday would be a 2.5% loss, and we're currently up 3.08% since I started recording trades on 12-January.
It also just dawned on me that we're now almost 200 posts in to a "system" thread, and there hasn't been a single screen shot or attachment posted. That's got to be a record here, and one that I couldn't be happier about
Anyway - that's about it for me for the weekend. I may check in once in a while, but I won't likely be spending much time behind the PC, so it may be a while before I reply to anything addressed specifically to me.
Have a good weekend all!
I managed to get a practice account set up today, so I can run this parallel with them in Februrary to be sure it is doing the same thing as the IBFX demo I ran this month.
This also got me thinking more about starting the journal thread.... The point of my posting results in this thread has been to make sure people can see how I'm doing the math every day. I think there are enough examples that it should be pretty clear by now. The link I've posted in the first post to the myfxbook tracking site for this system contains every trade, past, present and future and is updated in nearly real-time. So, I'm really wondering if a journal here is necessary at all. I'll have to ponder that one. It's not as though I'd have any analysis or other thoughts contributing to how I arrived at placing any trade.
On a positive note, what we've done here so far with one trading day left in January is the second time around this month for this system. Starting from the first actual trading day of the month (January 3rd), we would have been out with our 10% four days later and had a pretty boring month, having hit our target so soon. No matter what happens on Monday, we will still end up positive for all the rest of the trades in the month that we would have never even made. The worst we can do Monday would be a 2.5% loss, and we're currently up 3.08% since I started recording trades on 12-January.
It also just dawned on me that we're now almost 200 posts in to a "system" thread, and there hasn't been a single screen shot or attachment posted. That's got to be a record here, and one that I couldn't be happier about
Anyway - that's about it for me for the weekend. I may check in once in a while, but I won't likely be spending much time behind the PC, so it may be a while before I reply to anything addressed specifically to me.
Have a good weekend all!
We took 27-pips today, for a gain of a little over 2.85%
When all is said and done for January, we closed with a net gain of 6% since I started recording trades. This is on top of hitting the +10% target earlier in the month before I started logging.
Some stats:
Opening balance: $3000
Closing balance: $3180.11
ROI: +6%
Our lowest point of the month was 18-January, where we were at -4.59%.
I'm still on the fence about a journal thread, again because the myfxbook link serves as a nice journal already.
0:00 open on 1.5831
8:00 open 1.5874
so we need to buy
on 9:00 we have 1.5829
so we lose 20p
