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  • #2,461
  • Dec 30, 2011 10:57am Dec 30, 2011 10:57am
Quoting thrax
The USDCAD was stopped out, -7 pips (I do use a trailing stop), the AUDUSD reached the defined TP of 2xATR(7)=66 pips.
Meanwhile the NZDUD also hit predefined TP of 64 pips.
great trades saw them but never took them, expected a further fall on the euro...alas it too yeild pips and the aud.yen was another text book entry...
  • #2,462
  • Dec 30, 2011 11:45am Dec 30, 2011 11:45am
Quoting gms
hale-mary, as mentioned before I suggest to use the simulator for backtesting. instead of getting just static candles you will see and "feel" the momentum while watching the moving candles in fast forward time-lapse mode.

gary
gms,

I think this is a stupid question. Several times I attempted to do backtesting, but not successful. Would you be kind enough to show us the steps on how to do it. Thank you and Happy Holidays,

Edd
  • #2,463
  • Dec 30, 2011 2:32pm Dec 30, 2011 2:32pm
Quoting Edd Ganuelas
gms,

I think this is a stupid question. Several times I attempted to do backtesting, but not successful. Would you be kind enough to show us the steps on how to do it. Thank you and Happy Holidays,

Edd
Edd, there are two possibilities of backtesting:

1. The simple one is to turn off Charts --> Auto Scroll in Metatrader, scroll back to any random week or day you like, and go forward candle by candle with the F12 key. With this method you have to manually keep track of your entries, SLs, TPs, and exits.

2. The other method is to use the Trade Simulator which can be downloaded for free: http://www.forexfactory.com/showthread.php?t=70742
There is a step-by-step manual included for the setup. With the Simulator you can watch the movement of the candles in real time or time-lapse, and you can enter trades like in reality. Also, the Simulator keeps track of your profit/loss and provides you with full analysis (see screenshot attached). Let me know, if you have any issues with the setup ...

gary
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  • #2,464
  • Dec 30, 2011 4:46pm Dec 30, 2011 4:46pm
Quoting Vantage

One of the most prolific writers of ea's here at FF has a standard filter, above D 50rsi buy only, below D 50 rsi sell only. That SHOULD tell you something.

As you say it came as a surprise to you how much of the move happens on the right side of D 50 rsi.
Please V could you attach or point me where I can get and try out this filter, just wanna see if if sharpens my edge.
Thanks and more pips in 2012

Intrepid
Let it turn and find your entry.
  • #2,465
  • Dec 30, 2011 5:01pm Dec 30, 2011 5:01pm
Quoting LazyLobster
Your last post has some points, but I would like to add to your discussion if I may. I have used many different indicators in my time with forex and one of the most difficult things I had to learn was that they are all fallable. That is, they have their uses like tools in a toolbox, but often times you have to know when the right to use them and the right time to ignore them. These days I look at them much like lenses to help focus on what I am looking for in PA. As for your ideas on APB candles, I agree that it makes intuitive sense to use standard...
I have to admit that I've not done enough work with APB even from when I first found Dean Malone's Synergy so I can't discard it at all and you are correct it helps you to stay in winning trades much longer,
The compromise I've come up with but yet to implement for lack of time is to have a separate Template with APB and another with regular candle sticks, enter a trade with regular and when in a good run switch to APB Template (thank God for Meta trader)
I'm not a full time trader yet but when I make that commitment I should pick where i left with APB and a whole other stuff that I've put on hold.
Thanks LL
Intrepid
Let it turn and find your entry.
  • #2,466
  • Dec 30, 2011 5:10pm Dec 30, 2011 5:10pm
Quoting Intrepidpips
Please V could you attach or point me where I can get and try out this filter, just wanna see if if sharpens my edge.
Thanks and more pips in 2012

Intrepid
I am running with an RSI (10) on my charts, and it has proven very useful at keeping me out of dodgy trades.

Same criteria - long above 50, short below 50 - along with the candle patterns / momentum - it's all down to Price Action.
"To live with Passion, it takes Courage and Grace to survive"
  • #2,467
  • Dec 30, 2011 10:39pm Dec 30, 2011 10:39pm
happy new year and merry christmas
  • #2,468
  • Dec 31, 2011 12:20am Dec 31, 2011 12:20am
Quoting hale-mary
Vantage,

The areas you marked, those are where the candles and tdi basically gave you a signal after the canlde formed right? So would your entry be on the next candle after the vertical red line on each one?
Direction from D chart once signal given, entry from 1hr. See the last D cross lower on 8 Dec, after that look for sells only until 20 Dec when there was a cross up.

Not all winning trades but its a winning %.

Try this idea on your back testing, follow D direction and enter trades from 1hr. If you get more consistent you might choose to take counter trend trades from proven SR areas.
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  • #2,469
  • Dec 31, 2011 12:31am Dec 31, 2011 12:31am
Quoting Intrepidpips
Please V could you attach or point me where I can get and try out this filter, just wanna see if if sharpens my edge.
Thanks and more pips in 2012

Intrepid
Steve Hopwood, he writes this filter into most ea's. So unless he has written an ea for this method (he prob has actually) its on his ea's for other methods which of course won't help here.

So its not something you can slap onto your charts. But like anything its work, take that idea buy above D 50 rsi level, sell below 50 rsi only. When you get more comfortable with pa and are happy to counter trend trade at proven supp and resistance levels.

SR levels are all over but if you look at your D chart back to Jan 2011 that would be a clear reason to take buy signals at the lows (nice divergence showing also).

Basically stick to trend until you have very good reasons not to.
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  • #2,470
  • Dec 31, 2011 4:03pm Dec 31, 2011 4:03pm
Quoting gms
Edd, there are two possibilities of backtesting:

1. The simple one is to turn off Charts --> Auto Scroll in Metatrader, scroll back to any random week or day you like, and go forward candle by candle with the F12 key. With this method you have to manually keep track of your entries, SLs, TPs, and exits.

2. The other method is to use the Trade Simulator which can be downloaded for free: http://www.forexfactory.com/showthread.php?t=70742
There is a step-by-step manual included for the setup. With the Simulator you can watch the movement...
Gary,

Thank you, and wish you all the luck in your forex trading.


Edd
  • #2,471
  • Jan 1, 2012 5:50am Jan 1, 2012 5:50am
Hey guys
Guess whose back
Yeah thats right i'm back my fellow S3 traders.
I missed you guys

Hoping everyone had an awesome New years eve , wishing all the S3 traders a great year ahead of us and may each and everyone of us make many many pips . My holiday was totally awesome, need a week to recover and get my bearings again LOL

I'll be spending the first week of Jan to catch up on the posts and reply to them as well as do some back testing which will include my compilation of all the candle formations thats was requested from traders which will make it so much easier to know what to look for when back testing.
This way everyone will be on the same page and no one will be lost when back testing as i noticed there are traders out there that still dont know what to identify when back testing.

Hope everyone is nice and fresh for the year.
Be ready to ride the market for all it can give us I am so ready to trade
I have a feeling its going to be one good year.

Regards
X-Man
X-man the legendary conqueror of markets
  • #2,472
  • Jan 1, 2012 2:04pm Jan 1, 2012 2:04pm
Quoting X-Man
[color=Blue][size=3]Hey guys
Guess whose back
Yeah thats right i'm back my fellow S3 traders.
I missed you guys

Hoping everyone had an awesome New years eve , wishing all the S3 traders a great year ahead of us and may each and everyone of us make many many pips . My holiday was totally awesome, need a week to recover and get my bearings again LOL

I'll be spending the first week of Jan to catch up on the posts and reply to them as well as do some back testing which will include my compilation of all the candle formations...
Excellent year for you X-Man and all S3 traders: health, happiness and fortune! Best regards
Oyapoke
  • #2,473
  • Jan 2, 2012 2:22am Jan 2, 2012 2:22am
Welcome back X-Man! Glad to see you have returned. Want to wish all the S3 traders a very successful year. I have spent the last week backtesting, especially pullback bars and am really starting to see how to recognise them and understand their power. Still need more time to learn how to avoid the head fakes but getting better. Looking forward to later in the week, when hopefully the market should pick up again. Cheers!
  • #2,474
  • Jan 2, 2012 3:21am Jan 2, 2012 3:21am
hi all, and happy new year!!!

What about usdchd swing tarde, I'm long at 0.9380....
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  • #2,475
  • Jan 2, 2012 4:38am Jan 2, 2012 4:38am
Hi
Any thoughts on these trades, silver has been closed out for a profit correlated with the aus/usd. Aud/yen also correlated with the aus.usd.
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  • #2,476
  • Jan 2, 2012 4:45am Jan 2, 2012 4:45am
Any thoughts on the eur.chf, I'm long at 1.2174
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  • #2,477
  • Jan 2, 2012 6:41am Jan 2, 2012 6:41am
Quoting moneyrunner
Any thoughts on the eur.chf, I'm long at 1.2174
eurchf looks good also, I'm long too...
  • #2,478
  • Jan 2, 2012 10:46am Jan 2, 2012 10:46am
Quoting hale-mary
So I have been backtesting and using the f12 key. I finally have come to the conclusion that it "feels" like i am guessing when I take entries. Let me explain, I am not sure how to determine if momentum is beginning or ending (well a decent amount of times to be confident) So even entering on a solid candle seems like the bar ends and reverses. i will be waiting for X-man to document what he looks at whe back testing to get an idea.
Hey there hale mary
Iglad to see you putting lots of effort into your back testing
My document will be ready by next week sometime .
I am busy at this very moment back testing one years worth of data and compiling all the KEY candles.
Hopefully this document will help you and fellow S3 traders
X-man the legendary conqueror of markets
  • #2,479
  • Jan 2, 2012 10:52am Jan 2, 2012 10:52am
Quoting X-Man
Hey there hale mary
Iglad to see you putting lots of effort into your back testing
My document will be ready by next week sometime .
I am busy at this very moment back testing one years worth of data and compiling all the KEY candles.
Hopefully this document will help you and fellow S3 traders
Wow that is amazing. You are very generous. Thanks for sharing.
  • #2,480
  • Jan 2, 2012 10:55am Jan 2, 2012 10:55am
Quoting X-Man
Hey there hale mary
Iglad to see you putting lots of effort into your back testing
My document will be ready by next week sometime .
I am busy at this very moment back testing one years worth of data and compiling all the KEY candles.
Hopefully this document will help you and fellow S3 traders
Can't wait to see your work done.


Happy new pips to everybody!
let's skype: @elchinoazul
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