Cubbybgood's Finest Hour Method! | Forex Factory

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Cubbybgood's Finest Hour Method!

  • #1
  • First Post: Edited 4:09pm Jan 28, 2011 11:46am | Edited 4:09pm
Hi guys,
This will be my last system/method I post a for a while....

My dream for a long time in the forex has been to create a mechanical system that performs well. I hate staring at the charts all day waiting for a good set up. I just want to put my trade in and be done.

I know this sounds lazy but charts can really get old after a while and really emotions are sometimes hard to deal with as well.

What I've come up with here is a method that allows you to put 1 trade per day in at 9 am EST.

-1:2 win loss.
-attempt at making around 20 pips a day
-high accuracy
-no emotions.
-set SL and set TP for every trade.
-looks profitable long term.



Rules,
-At 9 AM EST or after place a buy order 1 pip above the 8am candle

-At 9 AM EST or after place a sell order 1 pip below the 8am candle.

-FOR SELL, SL is set 1 pip above the 8am candle

-For BUY, SL is set 1 pip below the 8am candle

-TP is always half of your SL value. So if your SL is 50 pips your TP is 25.

-When first order hits profit be done for the day

-Make sure you put your buy in when when 8 am candle high is broken by 1 pip. This will almost always alow you to make 50% of your lost pips back.
　


Before you bash the win loss ratio of this system just look at the performance sense November 2010.


Starting today jan 28th going backwards to nov 1st in pip count. keep in mind that the - is negitive pips. I tried to make this as acurate as possible but give or take 0-3 pips per trade depending on the broker spread and slight price difference.

22
26
-32-32
20
17
18
-54+27
20
18
-55+27
-45+22
48
30
13
18
41
-49+24
31
21
13
9
14
9
17
17
18
-38+19
21
20
-28+14
12
13
22
29
21
21
-44+22
26
-42+21
24
55
-100+50
29
21
25
20
17
-61+30
27
25
-30+15
14
23
25
-40+20
25
-29+15
-56+27
20
-36+22
30
20
11
-35-35
15
toltal +575 pips

I think this system as of now is very tradable. I think that with some suggestions it may become even better. I've tested it some on the GU and it also looks good. I will run a back test later today or this weekend...
Attached Image (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 204 KB
  • #2
  • Jan 28, 2011 12:07pm Jan 28, 2011 12:07pm
Hi,

It looks interesting, thanx for your idea.

Just one question about time settings.
EST is GMT -5.
So when you say "16 GMT or 6 AM EST" which time do you mean then?

16 GMT = 11 AM EST
6 AM EST = 11 GMT

Regards
  • #3
  • Jan 28, 2011 12:11pm Jan 28, 2011 12:11pm
Quoting msiamd
Hi,

It looks interesting, thanx for your idea.

Just one question about time settings.
EST is GMT -5.
So when you say "16 GMT or 6 AM EST" which time do you mean then?

16 GMT = 11 AM EST
6 AM EST = 11 GMT

Regards
Thanks for the clarification...
I will remove the gmt time because it will just confuse everyone since all brokers gmt times are different.

I mean 6 am EST. This is when you will be looking to trade the high/low of the 5 am EST candle
  • #4
  • Jan 28, 2011 12:18pm Jan 28, 2011 12:18pm
the system looks profitable but the time zone is wrong
  • #5
  • Jan 28, 2011 12:37pm Jan 28, 2011 12:37pm
Your chart doesn't make sense.
The candle you have the high and low marked is the 8 AM EST candle.

The 6 AM candle is two to the left of it.

In any case, you do not appear to be using the 5AM candle at all.
  • #6
  • Jan 28, 2011 12:53pm Jan 28, 2011 12:53pm
Quoting billbss
Your chart doesn't make sense.
The candle you have the high and low marked is the 8 AM EST candle.

The 6 AM candle is two to the left of it.

In any case, you do not appear to be using the 5AM candle at all.

All the candles in the pic are 6 am EST candles... At least for me...

These are the candles we are basing the high and low off of. am I tired or is this right?
Attached Image (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 218 KB
  • #7
  • Jan 28, 2011 12:58pm Jan 28, 2011 12:58pm
Test results in for GBPUSD

This Month GU
22
-45+22
18
15
11
-62-62
17
19
14
20
-36-36
33
30
15
15
49
14
33
12
15
=133

Dec
10
-53+26
12
15
16
10
-37+18
20
28
22
31
13
27
30
22
24
-53+26
22
-48+24
17
48
-70+35
13
=248

nov
25
20
37
17
22
18
-25+12
22
7
22
17
20
21
15
-68-68
12
17
-48+24
-98+50
14
-29-29
15
=42

Toltal +423 pips
  • #8
  • Jan 28, 2011 1:10pm Jan 28, 2011 1:10pm
I seem to see the same on my charts. I'm in the UK
This is like the NY opening system. I'm interested as anything new is always worth looking at especially if it makes money and keeps me on the right side.

Quoting billbss
Your chart doesn't make sense.
The candle you have the high and low marked is the 8 AM EST candle.

The 6 AM candle is two to the left of it.

In any case, you do not appear to be using the 5AM candle at all.
  • #9
  • Jan 28, 2011 1:16pm Jan 28, 2011 1:16pm
Quoting Cubbybgood
All the candles in the pic are 6 am EST candles... At least for me...

These are the candles we are basing the high and low off of. am I tired or is this right?

Those are the 8AM, you have marked.
  • #10
  • Jan 28, 2011 1:26pm Jan 28, 2011 1:26pm
Yup, I'm tired....

I ment 8 am EST!!!! sorry for the stupid mistake guys!!!
  • #11
  • Jan 28, 2011 1:34pm Jan 28, 2011 1:34pm
Quoting Cubbybgood
Yup, I'm tired....

I ment 8 am EST!!!! sorry for the stupid mistake guys!!!

I think there is another error on your chart.

Here is your rule:

Quote
Rules,
-At 8 AM EST gather place a buy order 1 pip above the 7am candle

-At 8 AM EST place a sell order 1 pip below the 7am candle.

Your chart shows you placing the buy and sell orders above and below the 8AM candle, not the 7AM candle.
  • #12
  • Jan 28, 2011 1:39pm Jan 28, 2011 1:39pm
Quoting billbss
I think there is another error on your chart.

Here is your rule:



Your chart shows you placing the buy and sell orders above and below the 8AM candle, not the 7AM candle.
Gosh, I should have posted this on monday when my head is working.

This will be fixed, thanks for your time on checking my info!
  • #13
  • Jan 28, 2011 1:57pm Jan 28, 2011 1:57pm
Another thread, wow, maybe you should start your own Forex Forum.

cheers.
  • #14
  • Jan 28, 2011 2:13pm Jan 28, 2011 2:13pm
Quoting monarch
Another thread, wow, maybe you should start your own Forex Forum.

cheers.
There are just so many ways to profit in the forex. This may not be a method that can subsidise your income but it can definitely give you some extra pips at the end of the week/month consistently.
  • #15
  • Jan 28, 2011 2:19pm Jan 28, 2011 2:19pm
Quoting Cubbybgood
This may not be a method that can subsidise your income but it can definitely give you some extra pips at the end of the week/month consistently.
And you can say this after "creating" this system about 2-hours ago, and backtesting against 2-months of data?

I mean this in the nicest possible way.... You really need to settle down and develop some patience and discipline if you want to be successful. We've all spent at least some part of our journey to where we are today bouncing from system to system hoping to find the "perfect" one, which doesn't exist. Sooner or later, every successful trader realizes that this gets you nowhere, and that "a-ha" moment is usually the first step toward success.

Do yourself a favor and invest your time and energy in really starting to study and learn how to trade, and less time chasing the holy grail. It will pay dividends in the future.

Take this for what it's worth. Or don't. It's your future, after all.
  • #16
  • Jan 28, 2011 2:35pm Jan 28, 2011 2:35pm
Quoting cgrey
And you can say this after "creating" this system about 2-hours ago, and backtesting against 2-months of data?

I mean this in the nicest possible way.... You really need to settle down and develop some patience and discipline if you want to be successful. We've all spent at least some part of our journey to where we are today bouncing from system to system hoping to find the "perfect" one, which doesn't exist. Sooner or later, every successful trader realizes that this gets you nowhere, and that "a-ha" moment is usually the first step toward...

This is definitely a post I am not surprised to see. I have come out with 3 systems in the past few weeks and yes, that may be to many but these are all the things that I use for my trading and I would say that I'm a decent trader. I may not make 500 pips a week but I still do pretty well.

golden finger signal thread.

profit every day thread.

This is my latest. I wanted something I could trade without having to analyse the market.

Every trader I know personally has at least 2 strategies or systems for there trading. So I have 3, is that such a bad thing?

Also, as I said at the top of the post. this is my last system I will be posting for a while here on FF.

It's 3 months of data so far not 2. I know this is back history but this method shows that there is a great chance that pips can be made in the future. I will continue to bring in more data to prove it's worth.
  • #17
  • Jan 28, 2011 3:07pm Jan 28, 2011 3:07pm
Quoting Cubbybgood
This is definitely a post I am not surprised to see. I have come out with 3 systems in the past few weeks and yes, that may be to many but these are all the things that I use for my trading and I would say that I'm a decent trader. I may not make 500 pips a week but I still do pretty well.

golden finger signal thread.

profit every day thread.

This is my latest. I wanted something I could trade without having to analyse the market.

Every trader I know personally has at least 2 strategies or systems for there trading. So I have 3,...
Are going down a dangerous road my friend. Once you start creating/backtesting systems in a single day you've hit rock bottom and you are basically coming up with any way possible to trick/fool your mind into thinking that "this" system will work.

I'm not trying to be negative, or an a**...I've been there, See my attached pic (yes virtually every one of these represents a new system, or a tweak of a system)

I'm still mulling over you're statement "so I don't have to analyze the market"...ugh. I mean, do you make coffee without seeing what time it is? Or go to the movies without checking the showtimes? Or go get gas for your car without looking at what the gauge says?

I've been fortunate to find an edge..but I suffered long and hard and (obviously) tried many, many systems...a lot of them created on weekends, or even a few hours in front of MT4.

My only suggestion is to pick a TF like 30M, 1H, 4H and try to READ the market, see what it does repeatedly etc...

I'm just trying to help because I've been where you are right now...also stop posting systems on FF until you've truly MANUALLY back tested it and recorded each Stop/Entry/Time/Max Pips/Pull Back/Alt Exit etc...(see attached) It's kind of misleading for all these new folks.

Anyway, please don't hate! I'm just trying to help.
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  • #18
  • Jan 28, 2011 3:30pm Jan 28, 2011 3:30pm
i just cannot make sense of the hours that you have posted and shown on your pictures. could you please confirm that you start trading at 9 am est using 8 am(first NY open candle) meaning you start trading one hour after NY open.
  • #19
  • Jan 28, 2011 3:40pm Jan 28, 2011 3:40pm
Quoting Cubbybgood
This is definitely a post I am not surprised to see. I have come out with 3 systems in the past few weeks and yes, that may be to many but these are all the things that I use for my trading and I would say that I'm a decent trader. I may not make 500 pips a week but I still do pretty well.

golden finger signal thread.

profit every day thread.

This is my latest. I wanted something I could trade without having to analyse the market.

Every trader I know personally has at least 2 strategies or systems for there trading. So I have 3,...
Good luck to you. As I said, I was trying to offer you some advice. Clearly, you're not ready for it, as you obviously know far more than anyone else that may try to help you. If you last long enough, it may be of value to you someday. If not, well, like I said, it's your future... I'm speaking from years of experience, and have been exactly where you are today.
  • #20
  • Edited 3:56pm Jan 28, 2011 3:44pm | Edited 3:56pm
Quoting pilotui
Are going down a dangerous road my friend. Once you start creating/backtesting systems in a single day you've hit rock bottom and you are basically coming up with any way possible to trick/fool your mind into thinking that "this" system will work.

I'm not trying to be negative, or an a**...I've been there, See my attached pic (yes virtually every one of these represents a new system, or a tweak of a system)

I'm still mulling over you're statement "so I don't have to analyze the market"...ugh. I mean, do you make coffee without seeing what...



Please don't hate? Well you make it very hard not to when you write such an arrogant message like this.

How do you expect to learn anything with this kind of attitude. I really really hate how those few people in the forex community just love to shun and bash others and what they have to offer. I almost think it's a jealousy thing... Do you wish you could have thought of this idea first? I don't understand...what's the meaning of your post and why was it written?

You think I'm some noob trying to post random crap? You have to admit if you actually looked at the d### method you can clearly see that it has great potential. I never said it was the holly grail but I did say it was a good side strategy to possibly bring in some extra pips.

Also, 379 systems? Wow, what a wast of time. I just went to a worthy forex friend and he showed me the way.

I stick to 2 systems. The bible system that includes the golden finger indicator and the profit every day. I look for the best possible trading opportunity with just these 2 systems. I don't need 379 systems because I'm not still trying to find my way.

This is not a system! This is a method!
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