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  • #5,981
  • Mar 20, 2013 6:27pm Mar 20, 2013 6:27pm
Quoting Swg123
730 days = 2 years? ... that means your broker has Saturday AND Sunday candles.
alpari uk

time to start 730 days 2011/03/21

thanks
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  • #5,982
  • Mar 20, 2013 6:30pm Mar 20, 2013 6:30pm
Quoting oztrader79
Juan,

Fxhard has said the best settings are 100 days back because beyond that the data from the broker may not be as reliable etc. He said backtest 100 days then with those setting forward test 100 days. Then you will have a concrete experience of the results.

Also the markets change all the time, there is never going to be some universal setting that can be used for all time into the future.

Ben
Oztrader

everything you say is absolutely true thanks
  • #5,983
  • Mar 20, 2013 7:03pm Mar 20, 2013 7:03pm
time to check

100 days
CZ=30
trade set win=29
trade set losses=1


730 days
CZ=151
trade set win=149
trade set losses=2

thanks Xux and FxHard
  • #5,984
  • Mar 20, 2013 7:16pm Mar 20, 2013 7:16pm
Quoting GGecko
Hello,
this is how it looks on my MT4.
thanks mate its good seeing a different perspective
  • #5,985
  • Mar 20, 2013 7:29pm Mar 20, 2013 7:29pm
Quoting forexhard
This has great potential. Take note everyone.

How about starting with what your journal looks like now, SP. Describe it in what ever detail... maybe post a pic or two. We'll consider it as the starter template and see where this goes.
This seems to have died before it got started - I am pressing on because I know it is the key to meeting my goals with my trading. Lets see if we can flush this out tonight.
I make money anywhere in the world by taking orders
  • #5,986
  • Mar 20, 2013 7:38pm Mar 20, 2013 7:38pm
Quoting SedonaPipper
This seems to have died before it got started - I am pressing on because I know it is the key to meeting my goals with my trading. Lets see if we can flush this out tonight.
I didn't really get what you posted sedona, it just looked like info from the indi.

Wouldn't a trade journal look more like this:

EURGBP
Long Entered @....
BE @ .....
SL @....
TP 1...

Result: out for break even.

with a chart attached.

That's what I was thinking at least?


Ben
  • #5,987
  • Mar 20, 2013 7:47pm Mar 20, 2013 7:47pm
Quoting oztrader79
I didn't really get what you posted sedona, it just looked like info from the indi.

Wouldn't a trade journal look more like this:

EURGBP
Long Entered @....
BE @ .....
SL @....
TP 1...

Result: out for break even.

with a chart attached.

That's what I was thinking at least?


Ben
Your right about it being information from the indie, I also had some r values and the information you just stated on the bottom of the page. In the notes section I intended to put notes that are associated with that pair - like don't take two trades in a row in the same direction unless it is in the direction of the trend.

I am looking for more information on a trade - though taking screen shots would solve a lot of my problems with figuring out what information to include besides the basics. I am thinking that my frame of mind should be included. Is there anything else that I am missing that makes a positive difference in tracking?
I make money anywhere in the world by taking orders
  • #5,988
  • Mar 20, 2013 7:50pm Mar 20, 2013 7:50pm
Quoting oztrader79
I didn't really get what you posted sedona, it just looked like info from the indi.

Wouldn't a trade journal look more like this:

EURGBP
Long Entered @....
BE @ .....
SL @....
TP 1...

Result: out for break even.

with a chart attached.

That's what I was thinking at least?


Ben
I am totally open to being wrong on this thought but since our SSBO entries are what one really might call random, in the sense that we do not establish any fundamental or even technical reason for entries, what is the point of keeping a journal ? The only thing I want to track is the percent won per pair and account balance. Open to enlightenment - for this method.
  • #5,989
  • Mar 20, 2013 8:00pm Mar 20, 2013 8:00pm
Quoting AltosTrader
I am totally open to being wrong on this thought but since our SSBO entries are what one really might call random, in the sense that we do not establish any fundamental or even technical reason for entries, what is the point of keeping a journal ? The only thing I want to track is the percent won per pair and account balance. Open to enlightenment - for this method.
Good point - I am sensing I am trapped in the thought process that I can fine tune things to get better results - The journal idea which is really talked about on page one seems to be an area that I am feeling something is out of alignment with my trading mind. What I have so far is collect as much data as possible, that seems way to random. So I too am looking for guidance in this area.
I make money anywhere in the world by taking orders
  • #5,990
  • Mar 20, 2013 8:11pm Mar 20, 2013 8:11pm
Congratulations to SedonaPipper for joining the SSBO 100-post club!
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To improve is to change. To perfect, is to change often.
  • #5,991
  • Mar 20, 2013 8:34pm Mar 20, 2013 8:34pm
Quoting SedonaPipper
Good point - I am sensing I am trapped in the thought process that I can fine tune things to get better results - The journal idea which is really talked about on page one seems to be an area that I am feeling something is out of alignment with my trading mind. What I have so far is collect as much data as possible, that seems way to random. So I too am looking for guidance in this area.
Mmmm . . . . I certainly try to fine tune things and since the market constantly changes I realize it can go off the boil. My thinking in terms of tracking is to monitor the % won. I envisage this as a graph extending as we procede. If the curve begins to fall (substantially) then I have to look at my settings and see if they are still relevant for the market conditions. I appreciate that this can be overdone but if one is using individual boxes constructed by eyeballing then you are adapting to the market every day. We do not adapt the indi every day but hand constructed boxes are almost the equivelant of adjusting the indi every day. I know there are a couple of schools of thought on this. As I understand it, Fxh proposed some time ago that there was no point in constantly tweaking the box and I agree with "constantly" for the indi. but hand drawn boxes are "constantly" tweaked each time you construct one. I am hard pushed to see what one can journal in response to random data, other than "are we maintaining our win %" and the indi does that so . . .

Anyone got better reasoning I am happy to listen.
  • #5,992
  • Mar 20, 2013 8:52pm Mar 20, 2013 8:52pm
Quoting AltosTrader
I am totally open to being wrong on this thought but since our SSBO entries are what one really might call random, in the sense that we do not establish any fundamental or even technical reason for entries, what is the point of keeping a journal ? The only thing I want to track is the percent won per pair and account balance. Open to enlightenment - for this method.
You're right but I think a journal might be useful in tweaking take profit levels etc.

For example, last night I had a few trades on that I had set to BE after 20 pips. They shot up 20 pips, retraced took me out and shot up much further. So keeping this record (and perhaps where price went after you exited) is good for fine tuning your exits and various profit targets. For me getting the right R:R is hard. I find it easy to get a quick 20 pips but if the stoploss is set to the other side of the cz at 35, then one two losses quickly undoes your profit. So personally I am finetuning when to move to breakeven, how much to take off at a certain level, how much to let run etc etc

@Sedona I wouldn't include your frame of mind in the journal - we want to get away from trading with emotions. This system has very clear rules for entry, it should never be based on any whim of gut feeling or whatever. If you trade like that then this system will fall apart because you will take one trade and let another go based on emotion - basically entering another factor to overall win rate.



Ben
  • #5,993
  • Edited 11:41pm Mar 20, 2013 8:56pm | Edited 11:41pm
GBPUSD

Stop loss set to 25 pips.

Breakeven at 20 pips
TP1 35% at 25 pips
TP2 45% at 35 pips
@ 35 pips trailing stop of 10 pips let the remainder run

EDIT: Closed for 1 pip - it didn't break out strongly so I closed out
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  • #5,994
  • Mar 20, 2013 8:57pm Mar 20, 2013 8:57pm
Fxhard - if you don't want this kind of detail with our pics I'm happy to remove it.
  • #5,995
  • Mar 20, 2013 9:04pm Mar 20, 2013 9:04pm
Quoting SedonaPipper
This seems to have died before it got started - I am pressing on because I know it is the key to meeting my goals with my trading. Lets see if we can flush this out tonight.
SP, I'll post my journal "template" next week; I don't have access to it right now and I'm having a pretty intense week at work... can't even trade.
  • #5,996
  • Mar 20, 2013 9:06pm Mar 20, 2013 9:06pm
All you old timers of the thread probably know this....so I offer this to the noobs....

This is what I have discovered in the last 4 weeks. Its about the percentage success and R:R, and most important trade set win percents. It doesnt matter if your going for 40 pips a trade or 7 pips a trade. The percentage doesn't even have to be above 80. I'm tell you guys this because I have done extensive testing live and have had 4 pairs running at a 95 percent success rate. I was one of the guys looking for the highest rate possible. I have one pair that over 100 days was 98 percent. BUT.... I make more money off my 65 to 75 percent success rate pairs. While it is more emotionally comforting knowing the success rate is 95, I have come to realize, once you learn how to lose and be ok with it... then you can really excel in your trading. I do test my pairs at 2,5,10,20,40,50,75,100 and "0" full history. Ideally I like the 100 percent trade set to be 3 or less. I run the numbers through all the different spans back in history and it must maintain the limit of trade set wins of 100 percent for me to use it with live account. Once that qualification is met, the stats become irrelevant on a day to day basis...

Your probably thinking...95 percent individual success rate would be better? look at this....
Think of 10 trades with a 90 pecent success rate(9 out of 10 winners) awesome right...No....give me a 60 percent success rate and I will be happier!
With a TP of 20 and a SL of 25 per say we would have 180 pips in wins (9*20)-25 pips in loss(1*25)=Net pips of 155 pips.

Now the 60 percent success rate...
Trade 1&2 wins...(2*20)=40 net pips...
Trade 3 loss.......(1*25)=15 net pips...
Trade 4 win.......(3*20)=75 net pips...
Trade 5 & 6 loss (1*25 & 3*25)= -25 net pips
Trade 7 win (9*20)= +180 net pips
Trade 8 win......(1*20)=+200 net pips
Trade 9 loss.....(1*25)=+175 net pips
Trade 10 win....(3*20)=+235 net pips

all in all 235 pips with a 65 percent success rate and 155 pips with a 90 percent success rate
The key is the martingale with a 2.5 or higher magnifier and a 100 percent tradeset win rate of 3 or less.
I make more off the two trades following a loss.

This is just an example of what has worked and I used as a stepping stone to reach a more advanced MM which I now use.
  • #5,997
  • Mar 20, 2013 9:11pm Mar 20, 2013 9:11pm
Quoting dojirock
All you old timers of the thread probably know this....so I offer this to the noobs....

This is what I have discovered in the last 4 weeks. .
Thanks! excellent food for thought.


Ben
  • #5,998
  • Mar 20, 2013 9:44pm Mar 20, 2013 9:44pm
Doji - I have pondered this also and so have two sets of each pair running for that very reason. The big unknown for me at this time is the DD. With a Martingale of 2.5 do you know what your biggest DD was/is ? On multiple pairs.

I can happily (mentally) cope with one pair going out to maybe trade 5 but if I had multiple pairs open at trade 5 I would definitely be nervous. This of course comes back to position sizing and so to R:R and I haven't happily reached a conclusion on that thought.

Jump in guys, opinions welcome. :-)
  • #5,999
  • Mar 20, 2013 9:53pm Mar 20, 2013 9:53pm
Like I said, I use 3 as my max. I don't let it go to 4 or 5. The overall net pip win is so good, if it needs to go to 4 to hit 100 percent or less trade set wins... I eat the loss and start over.. No sense in wiping out your account or profits.

Quoting AltosTrader
Doji - I have pondered this also and so have two sets of each pair running for that very reason. The big unknown for me at this time is the DD. With a Martingale of 2.5 do you know what your biggest DD was/is ? On multiple pairs.

I can happily (mentally) cope with one pair going out to maybe trade 5 but if I had multiple pairs open at trade 5 I would definitely be nervous. This of course comes back to position sizing and so to R:R and I haven't happily reached a conclusion on that thought.

Jump in guys, opinions welcome. :-)
  • #6,000
  • Mar 20, 2013 10:09pm Mar 20, 2013 10:09pm
Sorry, I missed the 3 or less meaning you would not go beyond 3. Yeah, OK, that is a reasonable proposition. My trade sets are all within three also but I had not decided, at this time, what to do if it ran beyond 3 without a win.

Hmmm . . . we have drifted off the journaling ideas guys. Any thoughts ?
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