monday hit SL...tuesday winner...today..
P: bobcat2..yay packers..!!!
P: bobcat2..yay packers..!!!
GBP/AUD, GBP/CAD, GBP/CHF and GBP/NZD thread 126 replies
ACD Method on GBP/JPY One trade a day 451 replies
EUR/GBP, EUR/USD, GBP/USD, AUD/USD, CAD, NZD, JPY, and more... 14 replies
The best way to trade is one trade a day 76 replies
two version of FF tunnel Chart, one say down, one say up, which one is correct? 3 replies
DislikedTons of chart time on this pair has revealed an interesting possibility. I'll be formally testing this theory in a demo account, beginning tomorrow.
The "system" couldn't be simpler. The money management takes a little more thought, so I will explain it first.
We are taking ONE trade per day (which will be described later) on G/U. We will ALWAYS set a 20-pip stop loss, and that 20-pips will ALWAYS represent 2.5% of our balance. This is important to remember.
Our goal for the month is 10% return on our opening balance. How we determine...Ignored
Disliked
How does the Trade Balance news coming out at 4:30am EST affect the strategy? If at all....Ignored
DislikedWith The Tokyo and London open prices almost the same, who is entering the trade? It looks more like a crap shoot this morning...Ignored
DislikedHello everybody
I've read the thread and today I took a chance.
Sold at 8hs bar open (6068) and stopped out (-20 pips), then I sold again at 6095 with good reward, closed at 6052 (+43 pips) for a total of +23 . I know I broke some rules but I like the system.
I won't post any related to my trading way, I think this can be more profitable, this just to thank you for the idea.
Let's see tomorrow.Ignored
Dislikeddo you have some stats on the pip-distance ? today it hit SL. May be the pip-distance has to be above some number. but we dont have the data to confirm this.
anyway cgrey mentioned several times without all these rules it worked. so lets keep it like thisIgnored
DislikedIn a nutshell, that's our goal here. Minimize the losses with a relatively conservative stop, and bank the bigger trades.Ignored
DislikedThis concept of how close the two prices are cointinues to intrigue me. True, I have no data, and I still haven't had the time to really dig in to it. But I do continue to believe this could be one realtively simple filter that might work and not drastically change the underlying concept of the system.Ignored
Dislikedhere's a excel generated from my backtesting. It has date, gap, PL
gap is the pip distance between GMT0, GMT8 Open prices
draw your own comparisons. i sorted by gap
my conclusion is avoid trades if gap < 9Ignored
Dislikedhere's a excel generated from my backtesting. It has date, gap, PL
gap is the pip distance between GMT0, GMT8 Open prices
draw your own comparisons. i sorted by gap
my conclusion is avoid trades if gap < 9Ignored
DislikedI'm not going to modify my actual trading just yet. But I am going to track in my journal the "gap" between the two open prices for the remainder of February. That will let me do a "what if" for the rest of the month, and see if there is a difference in the outcome.
I have to say - I am really leaning toward adding this filter - exactly as roundrock proposes it (don't trade if the "gap" is less than 9 pips). We'll see what happens if I put this in place for March. I'll also be going live with about $1k for this system in March, IF OANDA...Ignored
DislikedHere's the other thing we need to look at:
1) is the small difference a result of a big move and then retracement back to the same area it was 8 hours earlier?
or
2) was it pretty much flat the whole 8 hours?
Is there a difference between the two? I would think if pa (price action) has been flat then a breakout is imminent. Vice versa for when pa has already made a big move. This is something to watch and note while we are testing this method.Ignored