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Cubbybgood's Finest Hour Method!

  • #21
  • Jan 28, 2011 3:55pm Jan 28, 2011 3:55pm
Quoting cgrey
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.
I re-read your post and I'm not sure if you even read mine....

When someone has good advice I take it. This is not even advice. This is saying that you think you know who I am as a person and trader and you know exactly how my trading career has gone so far. I want advice from a fellow trader not a wannabe .

I've only been honest on these forums. Admitting to defeat for 3 years before actually pulling out a profitable year in 2010

What makes you think that I've been working on this for 2 hours? I've been working on a machanical system for weeks!
  • #22
  • Jan 28, 2011 4:06pm Jan 28, 2011 4:06pm
Quoting Cubbybgood
I re-read your post and I'm not sure if you even read mine....

When someone has good advice I take it. This is not even advice. This is saying that you think you know who I am as a person and trader and you know exactly how my trading career has gone so far. I want advice from a fellow trader not a wannabe .

I've only been honest on these forums. Admitting to defeat for 3 years before actually pulling out a profitable year in 2010

What makes you think that I've been working on this for 2 hours? I've been working on a machanical system...
I'm gonna stop here to save you some embarrassment.

You're right, I'm wrong. I am absolutely a wannabe. All I ask, so that I may learn from your wisdom, is that you continue to post results for this system each day so we can all learn from it, and not abandon it. If we can all see more than just a few days of trades before you move on to something else, we hopefully can all learn from your wisdom and experience.

Thank you for sharing this system, and I hope I can learn from it.
  • #23
  • Jan 28, 2011 4:06pm Jan 28, 2011 4:06pm
I would like to know if the charts are wrong, but the first thread time guidelines are correct?
Ron
  • #24
  • Jan 28, 2011 4:06pm Jan 28, 2011 4:06pm
Quoting indranghimir
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.

Yes, you are using 8am EST data for your entry at 9am EST or after. Your entry can happen after 9am as well, Depends on when the breaks of the 8 am candle happen
  • #25
  • Jan 28, 2011 4:09pm Jan 28, 2011 4:09pm
Quoting packgreen49
I would like to know if the charts are wrong, but the first thread time guidelines are correct?
Ron
just changed first post. Should make more sense now but if there is still question let me know.
  • #26
  • Jan 28, 2011 4:32pm Jan 28, 2011 4:32pm
Cubby,

Let me encourage you to continue to post your ideas. The problem with posting a new thread is that it invariably attracts critics. Constructive criticism and questions to clarify the method I am sure are welcomed by you in order to improve profitability. Simply ignore derrogatory posts. If the moderators don't consider your systems mature enough, the thread will simply be moved to the rookie discussion forum.

I will take some time and test to see if we can't arrive at a better risk to reward ratio. Perhaps you have already optimized it...but just like 99% of the traders out there, I have to tinker with it and attempt to "improve" performance.

Prince Charles once remarked, "You've improved it worse!" I'll try to avoid doing that...

Regards,
BC2
  • #27
  • Jan 28, 2011 4:37pm Jan 28, 2011 4:37pm
If I followed your directions correctly, I believe I should have made +23 pips on EUR/USD, today?
  • #28
  • Jan 28, 2011 4:58pm Jan 28, 2011 4:58pm
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, is that...
There's nothing wrong with using different methods simultaneously. For some people it makes them better traders for one reason or another. For some it makes them extra pips. For others it keeps them distracted or entertained. For everyone else (the majority) it makes their brokers more money. What you need to answer to yourself is: what pays best for the time I want to put in?

If you are asking yourself that then I believe your doing something right.
  • #29
  • Jan 28, 2011 5:02pm Jan 28, 2011 5:02pm
Quoting Bobcat2
Cubby,

Let me encourage you to continue to post your ideas. The problem with posting a new thread is that it invariably attracts critics. Constructive criticism and questions to clarify the method I am sure are welcomed by you in order to improve profitability. Simply ignore derrogatory posts. If the moderators don't consider your systems mature enough, the thread will simply be moved to the rookie discussion forum.

I will take some time and test to see if we can't arrive at a better risk to reward ratio. Perhaps you have already optimized it...but...
Thanks for this. these forums can be hard some times.
  • #30
  • Jan 28, 2011 5:02pm Jan 28, 2011 5:02pm
Hello Cubbygood!
6 months ago I took time and I backtested EU GU UJ breakout strategy with your setup (1:2 RRR) all 1H candles breakout during EU session (6-15 GMT) from 2008 till JUL2010. I had a good breakout EA and I wanted to find best setup for it and trade it on my live account.

Guess what? None of the 3 pairs were profitable. What i remember the best was GU which ends with 55 pips profit (After 2and half year)- Thats why I abandoned breakout strategies..

Well maybe market has changed and it will work for you.. But for how long? Now after reading "building equity millipede" by PIPeasy I am working on entries which give me good feeling for market and let me know behaving of the market.

When I entered into the forex world I always wanted decent mechanical (programable) system (EA) which will make money while I play with my daughter. Now I am developing my own manual system which couldnt be programed due knowledge of behaving of the market which takes great part by my trading decisions.. Isnt it ironic?

wishing you many pips and all the best
Ka.
  • #31
  • Jan 28, 2011 5:05pm Jan 28, 2011 5:05pm
Quoting Bobcat2
If I followed your directions correctly, I believe I should have made +23 pips on EUR/USD, today?

yes, you are correct!

I'm working to see if this method can be used on 4 dif pairs at the same time.

It's early in my testing but this week using EJ EU GU GJ it pulled in 234 pips.

Last week only 19 pips all together. Pretty drastic change to the 234 this week. Hmmm...
  • #32
  • Jan 28, 2011 5:09pm Jan 28, 2011 5:09pm
Quoting carolco
Hello Cubbygood!
6 months ago I took time and I backtested EU GU UJ breakout strategy with your setup (1:2 RRR) all 1H candles breakout during EU session (6-15 GMT) from 2008 till JUL2010. I had a good breakout EA and I wanted to find best setup for it and trade it on my live account.

Guess what? None of the 3 pairs were profitable. What i remember the best was GU which ends with 55 pips profit (After 2and half year)- Thats why I abandoned breakout strategies..

Well maybe market has changed and it will work for you.. But for how long? Now after...

Yeah, I will contenue to work the backtesting.

I'm threw 4 months now on EU and every month has come out with profit so far. I wonder if the strat will hold long term...
  • #33
  • Jan 28, 2011 5:48pm Jan 28, 2011 5:48pm
there are many variations of this method on forexfactory, including EAs
  • #34
  • Edited 6:20pm Jan 28, 2011 6:09pm | Edited 6:20pm
Quoting rocket4x
there are many variations of this method on forexfactory, including EAs

I know of 7am-9am Big Dog USD Breakout Strategy thread. I tried to work with it but just couldn't find a profitable facet with that method.

I found that using just the 8 am candles high and low could show better results for a longer period of time. Again, still testing...
  • #35
  • Jan 28, 2011 6:18pm Jan 28, 2011 6:18pm
Hi Cubbygod,

I benn trying out your other systems to. The foex bibble so far is best for me. I benn trying the easy trend indicator to but not as good for me as forex bibble. I going to try this one next week because it seems nice and eazy.

Which one do you take most pips from every week? How long you been tradeing each of them? How much lot size I should use for this one if I have $500 account?

You said your didn't do good for 3 yers but 2010 was first good yer for you. What hapenned that made 2010 better? Did you get better systems or learn something that made you better tradder?

Thanks for sharring your systems.

Jimmy
  • #36
  • Edited 6:34pm Jan 28, 2011 6:19pm | Edited 6:34pm
Testing EU GU GJ EJ together.

A months back testing so far. Sorry if it doesn't make sense to you but I assure you that The numbers add up. a - in front of the number means it was a loss. If the numbers do not make sense then just look at the weekly totals.

jan 24th-28th
day 1. 22+22+23+25
day 2. +29-45+22+24+16
day 3. +10+16+22-22+11
day 4. +10+16+21+10
day 5. +12-23+11+16-28+14
total=234 pips

jan 17th-21th
+6+17-61-61+15
+30+17-52+26+24
-28+14+20+18+10
-40+20+14+18+20
-35-35+25+20+17
total=19 pips

jan 10th-14th
+11-46-46+18+5
+20+33+48+25
+25+33+30+26
+15+15+14-20+10
+12+17+15-23+11
total=248 pips

jan 3rd-7th
+40+40+50+60
+12+14-39+19+10
-80+32+34+50
+15+12+21+12
-19-19+13+15+11
total=303 pips
  • #37
  • Jan 28, 2011 8:50pm Jan 28, 2011 8:50pm
Quoting Cubbybgood
Testing EU GU GJ EJ together.

A months back testing so far. Sorry if it doesn't make sense to you but I assure you that The numbers add up. a - in front of the number means it was a loss. If the numbers do not make sense then just look at the weekly totals.

jan 24th-28th
day 1. 22+22+23+25
day 2. +29-45+22+24+16
day 3. +10+16+22-22+11
day 4. +10+16+21+10
day 5. +12-23+11+16-28+14
total=234 pips

jan 17th-21th
+6+17-61-61+15
+30+17-52+26+24
-28+14+20+18+10
-40+20+14+18+20
-35-35+25+20+17
total=19 pips

jan 10th-14th
+11-46-46+18+5
+20+33+48+25
+25+33+30+26
+15+15+14-20+10
+12+17+15-23+11
total=248...


so which results are for which pair ?

one has to know the long term results, i.e. for the past 3 years . that is the only way to establish if it will work in the long run. i think most of us would be happy just seeing results for eu and gu.
  • #38
  • Jan 28, 2011 9:05pm Jan 28, 2011 9:05pm
Quoting whatfx
so which results are for which pair ?

one has to know the long term results, i.e. for the past 3 years . that is the only way to establish if it will work in the long run. i think most of us would be happy just seeing results for eu and gu.
I wish I had an easier way of doing backtests. They take a lot of time even doing them the way I am now.

I will work out a better way of doing the backtests this weekend. 3 years will take some time. probably a week or 2.

The more pairs that are traded together the better the chances of having a positive pip count every week I believe. That's why I'm using 4 pairs.
  • #39
  • Jan 29, 2011 12:01am Jan 29, 2011 12:01am
Hi Cubbybgood,



Thank you for taking the time to share your
trading system ... it's about as straightforward
as it gets, which I really like ...

I think all the Forex systems you've posted are
worthwhile so 'please' do not be discouraged
by some of the feedback you've received.

There appear to be a number of people
on Forex Factory that seem to think that
they are the 'Grand High Lord and Master of
Forex' and seek to put people down while
offering nothing but mysterious warnings
and pronouncements ... LOL ... LOL ...

I suspect most of them have never
traded with real $$$ ... but of course
they consider themselves 'experts' ... LOL ...

Just keep up the good work ... and
keep smiling ...



colder99
  • #40
  • Jan 29, 2011 2:53am Jan 29, 2011 2:53am
Cubbybgood,

there is still some confusion on the hour to use for breakout, first post says 8AM, but chart shows 6 AM. can delete all the charts, posts that are inaccurate ?

does your backtest consider spread ?

your entry criteria is not completely explained. pl re-read your first post, you will know what i mean.

do you take 2nd trade if 1st is failed ? do you take 3rd trade if 1st, 2nd are failed ? how long you wait for breakout ? how have you arrived at 1:2 RRR, is it a guess ? with that ratio you need many more winning trades. did you consider taking trades only in the direction of daily trend ? do you trade all ranges or only if range is greater than and less than some pips

i suggest you take one pair (EU) and do the backtest all the way back for 2-3 years instead of testing 4 pairs. if you start testing so many pairs so fast you will make mistakes. you are doing testing manually ? if so how do you know it hits TP first or SL first ? so you need to drill down to lower timeframe.

after seeing so many breakout systems, i can tell you this is very very basic system that may not work at all in LONG run. it may give some pips in some days but you will lose money quickly and more quickly with more pairs

just my 2 cents
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