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Nb 10.0 range trading system

  • #321
  • Nov 18, 2011 9:16pm Nov 18, 2011 9:16pm
I thought I would post this here, since it pertains to range trading, although this response was in the trending thread.

I went back to my CTR 1H trade results and did a review of the data. Actually, should have done this along time ago, but wanted to see if my perception of the AUD/NZD was correct. Actually, it was not that bad, but the negative part of the perception is one trade I needed to go to L3 to recover, so that probably stuck in my head vs. the shear % of trades which you need to recover from. Anyway, from the time CTR came out to end of summer, here are some results from 7 pairs listed by:

Trades with no recovery needed / Trades needing recovery / % of trades with no recovery

GBP/CAD - 16/3 - 84.2%
AUD/NZD - 19/3 - 86.4%
NZD/JPY - 17/2 - 89.5%
CAD/JPY - 24/2 - 92.3%
NZD/CAD - 14/1 - 92.8%
USD/JPY - 12/0 - 100%
EUR/GBP - 48/0 - 100%

The GBP/CAD & AUD/NZD were the worst performers of my group, as well as once they got away, they ran into L2 and L3 for recovery. The others in the group just moved to another level and just ranged again, so recovering from those were much easier. No doubt the EUR/GBP seems to be the ultimate range trading pair. After seeing this information and for some fun, I think I will demo the CTR 1H in the "trending" market times and see if the results are similar and increase the lot size a bit on the EUR/GBP.

Hope the above is helpful. Next summer when I am definitely back into range trading, I am going to steer away from the AUD/NZD and GBP/CAD.

Best of trading to all.

George
  • #322
  • Nov 19, 2011 6:44am Nov 19, 2011 6:44am
Quoting Kelisa
Did you right click and check ALLOW LIVE TRADING, then u shud see a smiley face. Your EA will enter trades based on your settings.
THank you Kelisa!
  • #323
  • Nov 20, 2011 5:30am Nov 20, 2011 5:30am
What exit strategy did you use - atr, fixed, bb

great info by the way


Quoting George Adams
I thought I would post this here, since it pertains to range trading, although this response was in the trending thread.

I went back to my CTR 1H trade results and did a review of the data. Actually, should have done this along time ago, but wanted to see if my perception of the AUD/NZD was correct. Actually, it was not that bad, but the negative part of the perception is one trade I needed to go to L3 to recover, so that probably stuck in my head vs. the shear % of trades which you need to recover from. Anyway, from the time CTR came out to end...
  • #324
  • Nov 20, 2011 9:09am Nov 20, 2011 9:09am
Quoting censura
What exit strategy did you use - atr, fixed, bb

great info by the way
I used median of the BB to set a stop to BE. If it stalled or I saw a reversal pattern on a smaller timeframe, I would take profit. It was mostly manual last time, with some TP hitting the other band. This demo run I have added two items to help with less manual involvement on the exit: MPTM set to 40/10 and Squalou's daily SR indicator. If the other band is below a daily SR, I will set the TP just above/below the SR line vs. waiting for the other band. The other area I am going to evaluate is the entry with the SR indicator. Ideally, I would like to get entries just prior to a daily SR line.

Once I get the demo account linked up with myfxbook, I will send a link for people to follow.

Best of trading to you...

George
  • #325
  • Nov 21, 2011 3:01pm Nov 21, 2011 3:01pm
This is an example of the idea of an entry combined with the daily S/R indicator for CTR 1H from my last post...

George
Attached Image (click to enlarge)
Click to Enlarge Name: audnzd entry 11-21-11.gif Size: 36 KB
  • #326
  • Nov 21, 2011 4:56pm Nov 21, 2011 4:56pm
Quoting George Adams
This is an example of the idea of an entry combined with the daily S/R indicator for CTR 1H from my last post...

George
good show
  • #327
  • Edited 8:37am Nov 24, 2011 8:24am | Edited 8:37am
Hi guys!

I hope someone can say a good tip to close my positions somehow. Im a newbie as you see and i hope i can alive this.

What do you think about these position? Where and what should i close?

Im trying to find the peak to close the buy position.
Or should I close the sell now? (if it was a news related things)

Im just trying to find the best trading method. And today I went to lower TFs.

Can somebody help me?


Edit: Maybe at H4 support line it will go up? Should I wait until price go up to R1?

Please, help me.
Attached Image (click to enlarge)
Click to Enlarge Name: xy.jpg Size: 126 KB
  • #328
  • Nov 24, 2011 2:44pm Nov 24, 2011 2:44pm
Quick questions are you trading off a 5M chart?

Second are you on a demo account? Becuase if you are not then you should, because no newbie should be trading 4 lots on a real account, when they are not sure how the system works.
  • #329
  • Nov 24, 2011 2:49pm Nov 24, 2011 2:49pm
Egads, why anyone would do a buy on a euro now I dont know. Neither trade makes much sense to me at this point, anyway it has been done, now what? Just some pointers.

Lot size is way out of proportion to account size. I would be trading .10 lots with 5000 dollars. The fastest way to get killed in this business is greed.

You need to get rid of that buy at some point so look for the best bounce you can get and close it out. The sell probably will work if you pick a good spot to get out of the buy. Hopefully price will go back up to that Daily line and you can get out of the buy and then go back down and save your sell. Dang you just cant trade this way, you have no wiggle room to get out of a jam.
  • #330
  • Nov 24, 2011 2:51pm Nov 24, 2011 2:51pm
Quoting gustav213
Quick questions are you trading off a 5M chart?

Second are you on a demo account? Becuase if you are not then you should, because no newbie should be trading 4 lots on a real account, when they are not sure how the system works.

I think I was sure (I used the daily trend trading system), I put a sell position under S1 (1.3350) and the price go down until that. After this I closed it with little profit as I saw it goes to another direction.

After this I started to look for 5M chart. Made some profit here and the price suddenly go down.

My sell position is closed with profit. After this i hedged some more profit. Now Im waiting to go back that really ugly buy position (I hope it will reach the R1 line - 1.33624)

Yes, unfortunately its a live account. I just tried the 4 lot, but never again... It was a good lesson.

Edit: Nanningbob! Thanks for your reply. Your systems are great, I was stupid. I would be more patient, but i dont know what happens if I put a sell limit under S line, It reached and start to go another direction. So I dont know how much time should I wait on daily trend, to go into the direction what I need.
  • #331
  • Nov 24, 2011 2:57pm Nov 24, 2011 2:57pm
Quoting Shady313

Hi guys!

...

Please, help me.
Shady313 that is very unfortunately. I have a feelling this is a live account and it does not look good. I did the same mistakes. DON"T TRADE SO MANY LOTS. Your position is to big for the 5000 dollar account.

Nobody knows for sure where the price is going in the next day or two. I looks like you cut your losse and at this point you are hedged, it wont/ matter which way the price will go you have the same loss as long as you keep both orders open.maybe the best think is just to close both orders and start over with the right risk for your account. This is just my opinion, most likely this is what i would do.
  • #332
  • Nov 24, 2011 3:03pm Nov 24, 2011 3:03pm
Quoting iulli
Shady313 that is very unfortunately. I have a feelling this is a live account and it does not look good. I did the same mistakes. DON"T TRADE SO MANY LOTS. Your position is to big for the 5000 dollar account.

Nobody knows for sure where the price is going in the next day or two. I looks like you cut your losse and at this point you are hedged, it wont/ matter which way the price will go you have the same loss as long as you keep both orders open.maybe the best think is just to close both orders and start over with the right risk for your account....
Thanks for the answer!

Fortunately, my sell position is closed in the best time. It was fortune nothing more. Here is a picture with the actual statement:

http://d3test.atw.hu/xy3.jpg
  • #333
  • Nov 24, 2011 3:06pm Nov 24, 2011 3:06pm
Quoting Shady313
Thanks for the answer!

Fortunately, my sell position is closed in the best time. It was fortune nothing more. Here is a picture with the actual statement:

http://d3test.atw.hu/xy3.jpg

very happy for you....

please try not to throw your money away. Be smart.
  • #334
  • Nov 24, 2011 3:10pm Nov 24, 2011 3:10pm
Now I'm waiting for 1.3360 hit, what do you think guys about this? Can it go up to this line or higher?
  • #335
  • Nov 24, 2011 3:56pm Nov 24, 2011 3:56pm
Quoting Shady313
I think I was sure (I used the daily trend trading system), I put a sell position under S1 (1.3350) and the price go down until that. After this I closed it with little profit as I saw it goes to another direction.

After this I started to look for 5M chart. Made some profit here and the price suddenly go down.

My sell position is closed with profit. After this i hedged some more profit. Now Im waiting to go back that really ugly buy position (I hope it will reach the R1 line - 1.33624)

Yes, unfortunately its a live account. I just tried the 4...
Well by what I see, after getting over the lot sizes and similar issues, you need to learn how to use the system. I do know people using it on the 5M chart but thats because they like it. If you are just learning stick to the 4H and daily charts. That is what most people will be referring to here and what I think are just easier to use.

Also when did you open the trades? The picture you posted is a little small when I try to open it. If they where opened this week you have all the news out of Europe coming out and on top of that U.S. holidays so markets will be out of whack.

You have to look at more than just the system, you may see the S1 and D1 lines on the chart but if you would have looked at the big picture of the whole week with news and holidays you would've known the Euro was a bit hectic.
  • #336
  • Nov 24, 2011 3:59pm Nov 24, 2011 3:59pm
Quoting Shady313
Now I'm waiting for 1.3360 hit, what do you think guys about this? Can it go up to this line or higher?
Thats hanging around a nice psychological s/r level for me so it might hit it but don't know if it'll break it. I see the euro going down to 1.30 in the near future so I am not sure what to tell you.
  • #337
  • Nov 24, 2011 5:43pm Nov 24, 2011 5:43pm
Quoting gustav213
Thats hanging around a nice psychological s/r level for me so it might hit it but don't know if it'll break it. I see the euro going down to 1.30 in the near future so I am not sure what to tell you.
The thing is lot sizing properly. Right now it is easy to make money off of the Euro because we all know it has to go down no matter what temporary happy news hits for the short term. Until the Euro gets a more permanent answer to their problem I cant see it going up, only re-tracements.

However, his lot size is so big that he must have a perfect move up to release the buy and the perfect move down to release the sell otherwise his account is cooked. I would at least play for the perfect move that price may rebound but that would be a tough play. Then his last choice would be to close the buy and play the sell but if the rebound is strong he would get into trouble on that trade also.

one penny per 500 dollars and learn the business after that you can go to bigger things.
  • #338
  • Nov 25, 2011 12:40am Nov 25, 2011 12:40am
Quoting nanningbob
The thing is lot sizing properly. Right now it is easy to make money off of the Euro because we all know it has to go down no matter what temporary happy news hits for the short term. Until the Euro gets a more permanent answer to their problem I cant see it going up, only re-tracements.

However, his lot size is so big that he must have a perfect move up to release the buy and the perfect move down to release the sell otherwise his account is cooked. I would at least play for the perfect move that price may rebound but that would be a tough play....

Now I know, I was crazy, good lesson. (I wanted to scalp that period)

So I lost it.

The remaining balance is 4000 euros.
What size of lot do you recommend for this? (0.5-1?)
When should I enter to trend? (on the London session start?
How I know, the trend goes to another direction?
About how many pips can I get with trend trading per week?

I have to recover 4000 euros (I lost 2000 euros, the other 2000 was a past thing for the account im working on).

Thanks for the help!
I will be more careful.
  • #339
  • Nov 25, 2011 1:46am Nov 25, 2011 1:46am
Quoting Shady313
Now I know, I was crazy, good lesson. (I wanted to scalp that period)

So I lost it.

The remaining balance is 4000 euros.
What size of lot do you recommend for this? (0.5-1?)
When should I enter to trend? (on the London session start?
How I know, the trend goes to another direction?
About how many pips can I get with trend trading per week?

I have to recover 4000 euros (I lost 2000 euros, the other 2000 was a past thing for the account im working on).

Thanks for the help!
I will be more careful.
If you are going to be running with 4k euros on your account definitely under .5 more like a nickel if I was you, since you don't know the system well and will loose money.

A smarter thing I think would be to just used a 1k account and trade pennies until you get the hang of the system and focus on how many pips you can average a month. Forget about how much money you make for now and concentrate on pips.

Once you average a certain amount of pips week after week and month after month, it is all about increasing lot sizes.

What broker are you on?
  • #340
  • Nov 25, 2011 3:49am Nov 25, 2011 3:49am
Thank you. I'm on FinFX. I have problem only with entry points. I dont know when price starts to go to another direction.

So I need the entry and exit points. If it breaks the S1 line with 20 pips is that ok? Or How do you put your pendings?
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