Can we sell a set of studies we wrote that work? | Forex Factory

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Can we sell a set of studies we wrote that work?

  • #1
  • First Post: Dec 3, 2013 4:44am Dec 3, 2013 4:44am
Hello all and I hope this is the correct thread to be posting.

I appreciate that every man and his dog has their own 'never fail' system for trading forex. I am happy to discuss our team's credentials if necessary.

We do seem to have a set of studies that deliver consistent and predictable results on forex charts, something that I know personally each of us who trade forex hope to find to help us on our journey.

While I accept its a nice idea, how would we actually go about packaging it and distributing it? Any ideas welcome. It is not a holy grail, we believe this doesnt exist, but with the strict application of the set of rules for entry and exit along with a good money management policy, every member on our team generates a steady points stream. Daily.

I look forward to any constructive input. Apologies if this is the incorrect thread (mods).

HP
In life you get 3 types of people, those who can count and those who can't.
  • #2
  • Dec 3, 2013 4:49am Dec 3, 2013 4:49am
If you are about to discuss/share your method/system, you are in the right section ... so feel free to start. However if the purpose is to sell something, you should have opened the thread in the commercial section.
MT4/MT5 EAs/Indicators/Alerts coder
  • #3
  • Dec 3, 2013 4:54am Dec 3, 2013 4:54am
Hello FerruFx and thank you for your reply.

I guess the idea is that we know it works, we have been using it personally in a team for an extended period and I have been tasked with the dubious duty of seeing if I can generate any interest in it.

This morning we identified in excess of 500 points across 4 currency pairs in less than 2 hours, of which we individually banked well over 100 each, though I appreciate this is heavily subjective. The system really works. It is NOT automated and does require a working knowledge of guppy and retracement.

Perhaps I should start in the commercial thread as I would not wish to offend anyone if I am unable at this point to respond to an overly technical question.

Thank you again.

HP
In life you get 3 types of people, those who can count and those who can't.
  • #4
  • Dec 3, 2013 4:58am Dec 3, 2013 4:58am
Quoting HedgePiglet
Perhaps I should start in the commercial thread as I would not wish to offend anyone if I am unable at this point to respond to an overly technical question.
Yes this part of the forum is to discuss method/system ...

Anyway, an admin will move the thread if he think that it isn't in the right section.
MT4/MT5 EAs/Indicators/Alerts coder
  • #5
  • Dec 3, 2013 4:59am Dec 3, 2013 4:59am
Quoting HedgePiglet
Hello all and I hope this is the correct thread to be posting. I appreciate that every man and his dog has their own 'never fail' system for trading forex. I am happy to discuss our team's credentials if necessary. We do seem to have a set of studies that deliver consistent and predictable results on forex charts, something that I know personally each of us who trade forex hope to find to help us on our journey. While I accept its a nice idea, how would we actually go about packaging it and distributing it? Any ideas welcome. It is not a holy grail,...

Better to start a thread in the commercial section. What is you trading system about ?
  • #6
  • Edited 2:23pm Dec 3, 2013 5:11am | Edited 2:23pm
Hi Parox and FerruFX,

I think I have started in the wrong section and by proxy I apologise.

To answer you both as simply as possible, we have a total of 5 studies overlaid on a range-based chart. We have a set of high and low speed guppies that provide a visual support for price action and use a very clever signal we wrote ourselves based on the relationship between the two speeds, based loosely on Guppy.

Significant contributors are the ADR's as well as very clear 'rules' on entry and exit points using 5m, 15m, 30m, 60m, 240m and daily time based charts. We also have a matrix that shows the short-term action very clearly that permits one to adopt a more 'scalped' approach for shorter moves against the longer trends, though I use this term loosely. We have a scale of diminishing returns based on the distance travelled to/from the ADR %'s which I guess one can call predictive accuracy.

To help with timing we run a MA 'Channel' on either side of the price line to avoid any artificial 'blips'.

While this may sound a little informaton heavy, we have worked hard to reduce it to as few 'red and greens' as possible and we believe even the most clumsy of traders will be able to get something back.

Again, your input is valuable thank you.
In life you get 3 types of people, those who can count and those who can't.
  • #7
  • Dec 3, 2013 5:20am Dec 3, 2013 5:20am
At the risk of that previous post sounding like gas, I have included a screen grab of this morning's trades which generated 500+ points in this message. I accept I am on a time-delayed fuse for being jettisonned into the commercial thread but I hope it lends some credibility to what I have said.

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2013-12-03 at 10.05.24.png Size: 410 KB


To risk oversimplifying, red is short and green is long. This is the 'summary' page with the 'working' page not visible.

HP

Edit: Please forgive my labels!
In life you get 3 types of people, those who can count and those who can't.
  • #8
  • Dec 3, 2013 5:48am Dec 3, 2013 5:48am
And so i don't appear as a complete fruit basket, I have included a screen grab of the DOW, using our system. I appreciate many will look at this and declare it void, so I have stripped off as much clutter and left only the 'trades'.

Please let me have your ideas on where to next. Any constructive input is welcome.

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2013-12-03 at 11.42.29.png Size: 159 KB


300+ on the DOW in 2 days is a good result.

HP
In life you get 3 types of people, those who can count and those who can't.
  • #9
  • Dec 3, 2013 5:57am Dec 3, 2013 5:57am
Quoting HedgePiglet
Please let me have your ideas on where to next.
The very next step should be to detail your entry rules.
MT4/MT5 EAs/Indicators/Alerts coder
  • #10
  • Dec 3, 2013 6:05am Dec 3, 2013 6:05am
They can be explained to an amateur trader within probably 20 minutes.

Simply put, the direction will be shown by our 'working matrix' (I shall screen grab it in this message) to confirm that the 'arrow' is accurate. Then it is simply taking the next entry based on its position relative to the 'channel' (which I have shown in broken white) and then apply your stop loss/take profit rules.

Again, we have spreadsheets which support the 'optimum' levels of entry and exit but this would be like me telling you how to eat a sandwich. It can be adapted to suit your risk and dietary requirements.

We use audio alarms to draw your attention to the entry (so you can grab a coffee if you need).

Please do not be confused by this next grab, it is simply our 'backoffice' which works to throw out the arrows. It can be explained in more detail but I do not wish to scare off anyone who is unfamiliar with Guppy charts.

Attached Image


Thank you again in advance.

HP
In life you get 3 types of people, those who can count and those who can't.
  • #11
  • Dec 3, 2013 6:16am Dec 3, 2013 6:16am
(If anyone wants to give me a forex chart to overlay our system on and send a screen grab, please ask!)

I am fully aware that the sudden emergence of someone making claims is generally met with suspicion. I would ask only that you give us a chance to share it and then invite you to tear it down.
In life you get 3 types of people, those who can count and those who can't.
  • #12
  • Dec 3, 2013 6:25am Dec 3, 2013 6:25am
Quoting HedgePiglet
They can be explained to an amateur trader within probably 20 minutes.
We are all ears
MT4/MT5 EAs/Indicators/Alerts coder
  • #13
  • Dec 3, 2013 6:31am Dec 3, 2013 6:31am
Ha ha, I laughed. That was your cue to give me a chart to screen grab for you to address much of the scepticism I anticipate.

I can also tell you that in the time it has taken for us to have this discussion, the system has generated another +97 pips. 2 of which are still live trades.
I made the mistake of a definition a moment ago (I did say it would happen) and to be clear, I view a 'point' as a 'pip' in other words, it will multiply that many times by the size of your trade. 1 'point/pip' is £1 is = £1.
500 points is £500.

I'm really not sure what to do next. Other than screen share a live trade and/or cut and paste you the actual £ made in this morning's trades (as an individual) I don't know. Though doing this may be interpreted as obnoxious but I am willing to do it to show we are actually making money out of forex using this system.

HP
In life you get 3 types of people, those who can count and those who can't.
  • #14
  • Dec 3, 2013 6:41am Dec 3, 2013 6:41am
Quoting HedgePiglet
... to show we are actually making money out of forex using this system. HP
The point here isn't to show you are making money with a system ... but to explain the system. I mean clear entry rules, how you manage your opened trades, etc ... well, that's the purpose of this forum.
MT4/MT5 EAs/Indicators/Alerts coder
  • #15
  • Edited 7:11am Dec 3, 2013 6:46am | Edited 7:11am
Thats easy to answer. Because it IS working. I would have absolutely no desire to sell something that doesnt work.

There are several of us on the team. Some have no desire to sell it, others think we should. This thread is about exploring the possibility. If we can rent it or retail it, as there are several other systems doing, why would we not evaluate it.

At the end of the day we will all continue to do what we have for as long as we choose to do it. The system is now robust and bug free enough that we actually think it can be wrapped in plastic.

As with any system, there would need to be tutorials on its setup and use, I personally wouldn't have the first idea on how to do this. I am hoping someone out there does.

Please remember we have been doing this (collectively) for well over 20 years in forex. I grant that individual wealth is subjective but we are living proof that it works.

Your caution is welcome. I know how I would feel if some random popped up of a morning and started making claims. I claim nothing, who knows the system might be a disaster in someone elses hands, all I am saying is that in ours, it continues to work well.

HP
In life you get 3 types of people, those who can count and those who can't.
  • #16
  • Dec 3, 2013 6:54am Dec 3, 2013 6:54am
Quoting HedgePiglet
Thats easy to answer. Because it IS working. I would have absolutely no desire to sell something that doesnt work.
That makes no sense. If it is working as you claim, you would make A LOT more money by trading it yourself than selling it.
MT4/MT5 EAs/Indicators/Alerts coder
  • #17
  • Dec 3, 2013 6:59am Dec 3, 2013 6:59am
Without any explanation or titles, your charts and table mean nothing to me, although I'm familiar with most things forex. I am interested if you are willing to explain, but as you have made clear that you are only interested in selling then perhaps you might want to employ a marketeer (A certain Mr Karl Dittman may be interested in packaging it up for you). Though it baffles me why you would want to sell something that you claim works so well; don't you make enough money from it?
  • #18
  • Dec 3, 2013 7:04am Dec 3, 2013 7:04am
FerruFx I shall try to answer.

We all have our own accounts that we trade with our own set of % risk we are willing to accept. Typically it is never more than 1.5% for an account with a balance of less than £20,000 and as low as 0.25% for balances over £300,000 (which are in our team).

The entry is made immediately after the price crosses the MA channel, OR the signal fires WITHIN the MA channel.

If the direction is with the long term trend, we evalute the distance to the daily Average Daily range and we will hold our positions until it hits or exceeds the 75% level. You will already be aware of the % chances of a currency hitting its daily range average. (over 80% if my memory serves me)

In most cases, we simply lock in a stop (again dependent on your risk - though never more than 30pips) and we regularly hit a 2:1 reward:risk ratio. It is important to select charts with a high daily range, as it stands to reason that a chart that only moves 40 pips per day will not generally return 80 within a realistic trading session. None of us enjoy holding our trades overnight and while this might sound fanciful, we are generally done within 3-4 hours of trading daily.

Then in line with the signal direction, its simply down to money management. If you want a 1:1 ratio you'll get it, though I will need to run my own stats as we all aim higher than this. A stop-loss is essential as the signals 'fail' about 20% of the time, though this is usually noticed quite soon! (Isn't this always the case!)

We NEVER trade through red folder news.

An understanding of Guppy is not essential though it does help. When the chart is trending and the price never reaches into the slow Guppy zone, it is short-sighted to close the trade. Again, if you want to lock in a 40pip TP level then so be it. We frequently see runs over 100 at a time though in a trending market)

Please remember that this is currently not a commercial, shrink-wrapped study. We are thinking about doing this.

(Last 2 signals on EN and GN have generated 100+. I am not making this up.)
In life you get 3 types of people, those who can count and those who can't.
  • #19
  • Dec 3, 2013 7:05am Dec 3, 2013 7:05am
Quoting jen101
Without any explanation or titles, your charts and table mean nothing to me, although I'm familiar with most things forex. I am interested if you are willing to explain, but as you have made clear that you are only interested in selling then perhaps you might want to employ a marketeer (A certain Mr Karl Dittman may be interested in packaging it up for you). Though it baffles me why you would want to sell something that you claim works so well; don't you make enough money from it?

Grid
Hedge
Martingale.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #20
  • Edited 7:40am Dec 3, 2013 7:10am | Edited 7:40am
Quoting jen101
Without any explanation or titles, your charts and table mean nothing to me, although I'm familiar with most things forex. I am interested if you are willing to explain, but as you have made clear that you are only interested in selling then perhaps you might want to employ a marketeer (A certain Mr Karl Dittman may be interested in packaging it up for you). Though it baffles me why you would want to sell something that you claim works so well; don't you make enough money from it?
Perhaps I am misguided and I shall accept this to be true. However, even if I sat alongside you and showed you how to do it, there will always be competing ideas and strategies in the market. Why, after enjoying a good, consistent result, would we not look at new avenues to generate revenue from it.

I do not take any scepticism personally, people generally lose a lot of money in forex, and without bringing you to tears, between us we certainly have a badge which entitles us to say we have lost our fair share.

I personally find getting up at 5:45am to be horrible. I hate it. Not a word I use often. But, you need to be up early. It may well be that the system cannot be marketed and there is a complexity to it that I have missed only because I have been doing it so long. I accept all of these arguments.

Do you have any way I can reach Mr Dittman? Edit: I googled your Mr Dittman and I have to say your response is in very poor taste. I asked an honest question and have worked to reply to each question meaningfully. I find your reply to be offensive.

HP
In life you get 3 types of people, those who can count and those who can't.
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