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Does this simple system by Richard Donchian really work?
- #83
- Jan 5, 2012 5:13am Jan 5, 2012 5:13am
- Joined May 2010 | Status: Trader | 2,693 Posts
I have changed a little to my way the strategy
I have abandoned high-low 4w (too much delay) ... I replaced overbought-oversold triangles
I get your input from the sma5 friend
- #84
- Jan 5, 2012 7:51am Jan 5, 2012 7:51am
- | Joined Dec 2007 | Status: IF YOU SEE SMOKE, RUN! | 1,206 Posts
- #86
- Jan 5, 2012 9:21am Jan 5, 2012 9:21am
- Joined May 2010 | Status: Trader | 2,693 Posts
here 60M time frame ......euaud just maintain ur SL
just maintain ur SL
- #87
- Jan 5, 2012 9:28am Jan 5, 2012 9:28am
- Joined May 2010 | Status: Trader | 2,693 Posts
now see on 15mtf......
- #89
- Jan 5, 2012 10:30am Jan 5, 2012 10:30am
- | Joined Dec 2007 | Status: IF YOU SEE SMOKE, RUN! | 1,206 Posts
- #91
- Jan 7, 2012 3:51pm Jan 7, 2012 3:51pm
- Joined Jul 2011 | Status: Gold Again | 10,612 Posts
Would you take a trade on this pair or would you sit out?
I can see how you could discriminate against this trade because the stop would be so far out.
Would you attempt to trade this pair in either direction?
Thanks.
2. You are looking at this from the perspective of missing out, chasing price, however, same question could be asked last week, and be 211 pips profit now.
3. Trade in either direction - again, there is system, it gives signals, trade the signals.
The real trade started way back as show no this chart, some 690 pips ago, and 4 additional entries if allowed by your risk management.
Before those 4 weeks, there was chop, so probably some loses; as you suggest, maybe better to way, see what price action does, possible reversal, then again it is the EURO, anything can happen.
It takes a lot for me to IGNORE you, but you can try.
- #92
- Jan 7, 2012 4:16pm Jan 7, 2012 4:16pm
- Joined Jul 2011 | Status: Gold Again | 10,612 Posts
Would you take a trade on this pair or would you sit out?
If you are afraid to take a trade, perhaps your POSITION SIZE is TOO BIG !!!
If you use 2% RISK and calculate your STOP LOSS, then adjust the position size, you will never lose more than 2%
Once you accept the RISK, taking trades is EASY
Refer to chart, the 4 week spread is 744 pips, entry can be 1.24190, stop loss will be 1.31630. Each week, move the stop loss to the last weeks' high, so probably never even lose the 2%
Second picture shows how to calculate the position size; you have to lose a lot of 2% of account to go broke, and if you do, get a new system, because the money management is not the problem.
If you are afraid to take a trade, perhaps your POSITION SIZE is TOO BIG !!!
If you use 2% RISK and calculate your STOP LOSS, then adjust the position size, you will never lose more than 2%
Once you accept the RISK, taking trades is EASY
Refer to chart, the 4 week spread is 744 pips, entry can be 1.24190, stop loss will be 1.31630. Each week, move the stop loss to the last weeks' high, so probably never even lose the 2%
Second picture shows how to calculate the position size; you have to lose a lot of 2% of account to go broke, and if you do, get a new system, because the money management is not the problem.
It takes a lot for me to IGNORE you, but you can try.
- #93
- Jan 8, 2012 4:55am Jan 8, 2012 4:55am
- | Joined Dec 2007 | Status: IF YOU SEE SMOKE, RUN! | 1,206 Posts
1. If system is giving signal, do you take it or ignore it? If you ignore it, do you have system?
It was only my intention of such a question was to see how well thought out the system is.
Trending markets rarely last that long. Protecting capital is just as important as making capital... and hind sight is always 20/20 in regards to your comment about last week.
- #94
- Jan 8, 2012 5:35am Jan 8, 2012 5:35am
- Joined Jul 2011 | Status: Gold Again | 10,612 Posts
Trending markets rarely last that long. Protecting capital is just as important as making capital... and hind sight is always 20/20 in regards to your comment about last week.
It takes a lot for me to IGNORE you, but you can try.
- #95
- Jan 8, 2012 9:51am Jan 8, 2012 9:51am
- | Joined Dec 2007 | Status: IF YOU SEE SMOKE, RUN! | 1,206 Posts
Excuse me, read this post http://www.forexfactory.com/showthre...24#post5261824 no hindsight there, and this is not even my thread or system, apology accepted
It wasn't my intent to ruffle your feathers... but declaring what a pair did last week after the week is thru is still hindsight. Waiting until next week to close out is still hindsight.
Hindsight means looking backwards.
In a trending atmosphere everything works with a trending system... I am here trying to discuss what you do when trends contract and possibly change course because 80-90% of the time it's what they do.
I can wait until that happens and then see if you have a different idea if you like?
- #96
- Jan 8, 2012 10:47am Jan 8, 2012 10:47am
- Joined May 2010 | Status: Trader | 2,693 Posts
hi all,
here a sample of the beginning short entry trade by using this strategy last week...............
here a sample of the beginning short entry trade by using this strategy last week...............
- #97
- Jan 9, 2012 10:22pm Jan 9, 2012 10:22pm
- Joined May 2010 | Status: Trader | 2,693 Posts
GU SELL set up @1.5480.... SL above 5SMA
- #98
- Jan 10, 2012 12:47am Jan 10, 2012 12:47am
- Joined May 2010 | Status: Trader | 2,693 Posts
GU SELL set up @1.5480.... SL above 5SMA
Updated GU +25 pips.....
here the chart 60M TF and 1 MTF, i just add 3's EMA 365 set up price High/Low/Close and those 3's ema could be using from the lower TF and MCAD 24,72,12 .....
cheers
- #99
- Jan 10, 2012 9:45am Jan 10, 2012 9:45am
- Joined May 2010 | Status: Trader | 2,693 Posts
buy limit 1.0180 usdcad......
- #100
- Jan 11, 2012 4:01am Jan 11, 2012 4:01am
- Joined May 2010 | Status: Trader | 2,693 Posts
GU SELL set up @1.5480.... SL above 5SMA
