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The Small Hours System V 3.0

  • #41
  • Feb 18, 2011 9:01pm Feb 18, 2011 9:01pm
ido370 created the indicator. You'll have to contact him for that info.

I can give you my personal win ratio:

13 trades 10 wins approximatley (+214 pips)

Quoting liberty55
Thank to share your strategy.

Do you have the ratio % win/loss in number of pips? also , Is it possible to modify your indicator for to give us the difference bethween price input and sl. It will be more easy to calcul the lot size.

Is it possible also to change the color inside the rectangle?
  • #42
  • Feb 18, 2011 9:19pm Feb 18, 2011 9:19pm
I took this same trade. It was painful to watch. Upon it's initial spike it went all the way to within .05 pips of TP1, then reversed, I had visions of the AUDUSD trade that did this same thing. I moved my stop as to the original rules (new rules it would have stopped out) and price reversed again. I closed my trade station, went to bed, woke up this morning to see what had happened.

When I first looked at the charts I didn't see any of the dotted active trades line. My first impression was that it stopped out. Checked my account balance...and BAM! Looked at the history and saw 2 very beautiful green highlighted trades!

Was nice to wake up and see this!

This is also the reason I adjusted my TP's to the new levels, although I got greedy with this one, or maybe I was lazy, I used the levels provided by the indicator, worked out this time.

But in the future I will use:
.5 x ATR and .75 X ATR

Would have been out much quicker and just as happy with the results!

Maybe it's just me but I like seeing green highlighted history trades as opposed to the dreaded red highlighted trades!

Quoting Indrek
This very painful trade had been a loss if all rules would be obeyed (if SL had been moved by 3 last candles). But with leaving hard stop alone, it worked out until TP2.
It is up to anyone's decision how tight they want the SL to be. With present market conditions, I suggest to give as much room for any higher TF trade as possible.

Have a nice weekend everybody!
  • #43
  • Feb 18, 2011 9:24pm Feb 18, 2011 9:24pm
Go to the link below for the indicators. The setup bar is always the most recently closed candle. Just follow the rules for determining the setup! I think you'll find this method simple yet very powerful!

http://www.forexfactory.com/showthread.php?t=280908

Quoting liberty55
Hi colorstarr, do you have a template for the strategy? Can you give me more explication about the setup bar?

Thank.
  • #44
  • Edited 12:49pm Feb 19, 2011 2:23am | Edited 12:49pm
Quoting Colostarr
But in the future I will use: .5 x ATR and .75 X ATR
Would have been out much quicker and just as happy with the results!
The only problem is RR ratio... If using 1.5 ATR for SL and 0.5-0.75 ATR for TP then 1 loss is equal to 2-3 wins. Even 67 % hit rate looks like staying around BE with such money management...
  • #45
  • Feb 20, 2011 1:19am Feb 20, 2011 1:19am
Yes too right you are! Again this is the way I choose to trade. I am a bit more aggressive when it comes to my trading philosophy. And with experience you can see that 100% of the time the initial breakout goes one way or the other in the first candle. I want to be in a trade and out with pips as fast as I can. More times than not this generally happens inside the the initial breakout candle!

I am also aware that I am leaving PIPS on the table.

While I only just changed this TP rule, so far so good. If TP 1 gets hit 87% of the time, why not scalp a few pips in between, then move 2nd order to BE? If 2nd order stops at BE, you've still netted pips. If 2nd order gets stopped out on initial stop loss then the premise of the trade is broken and you've still successfully managed risk, which IS my most important rule! Manage risk first; profits second!

I would never do this if I didn't have the experience watching these setups!

Here is another of my steadfast rules:

Rule: You manage your trade the way you see fit. But you must be happy with the results whether they win or lose.
Hey I bank pips, then I bank pips, if I left money out there so be it

Bottom line: this is how I throw the dice!

Here is a simple formula I use to gauge my success:

Account Balance beginning < Account Balance ending

Quoting Indrek
The only problem is RR ratio... If using 1.5 ATR for SL and 0.5-0.75 ATR for TP then 1 loss is equal to 2-3 wins. Even 67 % hit rate looks like staying around BE with such money management...
  • #46
  • Feb 20, 2011 10:18pm Feb 20, 2011 10:18pm
USDJPY is beginning to show signs of a small hours setup. I think this pair is going to drop! Will keep you posted!
  • #47
  • Feb 21, 2011 3:16pm Feb 21, 2011 3:16pm
I have been bouncing around the "Small Hours" thread and ques. #1 - on "The Small Hours Simplified" thread on p. 9, #133 the rules were "reverbalized. Are these the rules to be followed now?

Q. #2 - what or where can I find a definition of "small hours"? Perhaps late NY session?

This has been interesting reading but not sure i have a good grasp yet and I agree Admin. didn't help by moving it too. p.
  • #48
  • Feb 21, 2011 3:34pm Feb 21, 2011 3:34pm
Sorry guys,
Im getting this wrong and would appreciate help from anyone.

Current setup on the USD/JPY:
Sell @ 82.98 X .50 = 41 pips.

Shouldn't tp1 be 82.57?
Also what are you using for SL... HH5, .75 of open price....please advise.

(This is according to Colostarr 'new preferred method')
Attached Image (click to enlarge)
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  • #49
  • Feb 21, 2011 6:47pm Feb 21, 2011 6:47pm
Good evening friends.
This trade just triggered and in positive pips as of writing.

Please review, any comments MUCH appreciated.
Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: usd.jpy 7.45 est trade.gif Size: 31 KB
  • #50
  • Feb 21, 2011 6:47pm Feb 21, 2011 6:47pm
My H4 UJ pending short got triggered 10 minutes ago and took profit 1 minute ago. 13 pips profit.

I used:

1 trade double lots (I usually trade 0.1 lots so now I trade 0.2 lots)
Entry = LL5 - 3 pips - spread
SL = HH5 + 3 pips + spread
TP = 0.75*H4 ATR(20)

I'm thinking this trade will go till at least 1*H4 ATR(20) pips into profit, but then again I am not that greedy
  • #51
  • Feb 21, 2011 8:15pm Feb 21, 2011 8:15pm
Hi The-Game.
Can you Please give me your exact numbers if you dont mind.

Thanks, much obliged.
I also did two lots, first one tp fairly quickly 2nd one BE after I moved the stop lower.
All in all, a tinkering process to see what works before the real deal soon enough.
  • #52
  • Feb 21, 2011 8:32pm Feb 21, 2011 8:32pm
Quoting forexferrari
Hi The-Game.
Can you Please give me your exact numbers if you dont mind.

Thanks, much obliged.
I also did two lots, first one tp fairly quickly 2nd one BE after I moved the stop lower.
All in all, a tinkering process to see what works before the real deal soon enough.
I didn't do two lots, I did 1 (one) trade but with double the lot size that I usually trade with.

Numbers:

Entry = 83.007
SL = 83.309
TP = 82.872
  • #53
  • Feb 21, 2011 9:11pm Feb 21, 2011 9:11pm
Thank you,
Please post future trades as well.
To compare and confirm.
  • #54
  • Edited 10:02pm Feb 21, 2011 9:31pm | Edited 10:02pm
Ugh, do I really have to do that?
I mean the system is clear cut already.
If you're not comfortable with the system as it is, change it and make it your own as I'm doing.

Instead, I'll share what I'm doing from now on...

H4 Buy / Sell
Entry: HH5 + 3 pips + Spread / LL5 - 3 pips - Spread
SL: LL5 - 3 pips - Spread / HH5 + 3 pips + Spread
TP: Entry + [0.75 * ATR(20)] / Entry - [0.75 * ATR(20)]

Daily/Weekly Buy / Sell
Entry: HH5 + 3 pips + Spread / LL5 - 3 pips - Spread
SL: LL5 - 3 pips - Spread / HH5 + 3 pips + Spread
EDIT: Since I don't have to watch Daily and Weekly so often I will be doing the following...
TP1: Entry + [0.5 * ATR(20)] / Entry - [0.5 * ATR(20)]
TP2: Entry + [0.75 * ATR(20)] / Entry - [0.75 * ATR(20)]
Set Trade 2 to BE once TP1 taken out.


Might be the worst R:R I've ever traded with, but it's okay for me because in this system the price almost always goes to the EXPECTED TP.
  • #55
  • Feb 22, 2011 2:23am Feb 22, 2011 2:23am
Another USD/CHF trade sell setup.

Not 100% to the rules. as pips are .02 higher than ATR.
Lets see what happens, tp and sl are both to "ATR TP & ATR SL"
Attached Image (click to enlarge)
Click to Enlarge Name: usd.chf time 3.18 am.gif Size: 34 KB
  • #56
  • Feb 22, 2011 9:20pm Feb 22, 2011 9:20pm
.2 pips is damn close enough!!

How did the trade work out?

The markets have been strange for about 10 days now

Quoting forexferrari
Another USD/CHF trade sell setup.

Not 100% to the rules. as pips are .02 higher than ATR.
Lets see what happens, tp and sl are both to "ATR TP & ATR SL"
  • #57
  • Feb 23, 2011 12:47am Feb 23, 2011 12:47am
For those of you that actively follow the "systems" forum you may or may not have stumbled across the Nanningbob system. It is a very advanced method and it took me almost 4 full days of reading through the thread and all the material provided before I got the basics of the system down.

No worries this isn't about the Nanningbob system!

It is about how to use the indicators provided from that system with the Small hours method!

I took a USDJPY long the other day even though the indicator gaver me a sell signal.

The initial sell breakout (which would have hit both TP's) came back and triggered my long orders in the next candle. Both TP's were hit in about 15 minutes time.

I determined from looking the indicators provided from Nanningbob that price was going to go north. Initially it went south, and I was kicking myself, but then it came back.

Go read through his method (V5.0). In and of itself it is POWERFUL.

I've got all of the indicators for anyone interested in applying them to their charts!
  • #58
  • Feb 24, 2011 1:12am Feb 24, 2011 1:12am
Colostarr,
I know the tp is a work in progress and I apologize if this is a repeat answer for you.
I recall reading somewhere that the .50 atr TP has a very high hit rate.
My ONLY concern with this wonderful strategy is the R:R
I mean one sl and all those successful trades disappear.

Please shed some light on how you combat that feeling or have any tricks to manage better.
Also I have found that if the tp's arent hit within that trigger bar, it's best to close it out. Because from what I'm seeing if that almost always if the break out is successful, it will come before that candle has closed, if not MUCH sooner.

Cheers.
Attached Image (click to enlarge)
Click to Enlarge Name: nzd.usd 2.07am est.gif Size: 43 KB
  • #59
  • Mar 2, 2011 4:05am Mar 2, 2011 4:05am
anyone still use this system?
  • #60
  • Last Post: Sep 7, 2012 9:48pm Sep 7, 2012 9:48pm
this is a good strategy because some guru was selling it at one point I don't know why this thread just died
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