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Proof of concept to make good pips

  • #1
  • First Post: Sep 5, 2014 12:16am Sep 5, 2014 12:16am
Hello all,

I am in the process of making a proof of concept system to make good pips on a consistent basis.

pairs i picked are Category i) : Majors + Gold
Category ii) : UJ + all Cross Jpy pairs

Strategy used by system : breakout strategy



I have added the trade explorer at the top with all visible open/pending trades + closed trades making $$.

cheers,

Scoobi
Scoobi doobi doo
  • #2
  • Sep 5, 2014 12:26am Sep 5, 2014 12:26am
Good luck mate.

Have you set up some learning expectations for your test? Would be a good idea to set a hypothesis for your expectations and then determine if the system you're testing meets your requirements. If it doesn't, you can adjust appropriately.

It doesn't have to be exactly like that but I think it'd be a good idea to go into the experience with an objective of learning rather than an objective of profits.
  • #3
  • Edited 12:56am Sep 5, 2014 12:44am | Edited 12:56am
Quoting TradeDream
Good luck mate. Have you set up some learning expectations for your test? Would be a good idea to set a hypothesis for your expectations and then determine if the system you're testing meets your requirements. If it doesn't, you can adjust appropriately. It doesn't have to be exactly like that but I think it'd be a good idea to go into the experience with an objective of learning rather than an objective of profits.

Objective is to be in the right side of swing moves and collect as much pips possible,as simple as that with lower DD

No Rag to Riches or MumboJumbo as far as this system is concerned..

I use a unique way to scale up/down on the main swing position to grab more pips on a decent pip move...

So far started off well with over 2400 pips in about 2-3 days, lets see if it lives upto it with future market moves

Another thing/objective is it would make pips with decent amount of trade volume will enable pay the bills through cash back rebate based on lots traded
Scoobi doobi doo
  • #4
  • Sep 5, 2014 1:14am Sep 5, 2014 1:14am
Quoting Scoobidoobi
{quote} Objective is to be in the right side of swing moves and collect as much pips possible,as simple as that with lower DD No Rag to Riches or MumboJumbo as far as this system is concerned.. I use a unique way to scale up/down on the main swing position to grab more pips on a decent pip move... So far started off well with over 2400 pips in about 2-3 days, lets see if it lives upto it with future market moves Another thing/objective is it would make pips with decent amount of trade volume will enable pay the bills through cash back rebate...
hi scoob,

Not understand 2400 pips you mentioned above. Is it the maximum pips can be made such as buy lowest & sell highest within 2-3 days? How about the breakout system? Is it elaborated under this post page as i do not found it.
  • #5
  • Sep 5, 2014 1:50am Sep 5, 2014 1:50am
Quoting richardchiam
{quote} hi scoob, Not understand 2400 pips you mentioned above. Is it the maximum pips can be made such as buy lowest & sell highest within 2-3 days? How about the breakout system? Is it elaborated under this post page as i do not found it.

No Richard, please refer to the trade explorer thats the pips grabbed by the system trading those pairs for past 2-3 days as we had lot of trending moves .

The strategy is hard to explain & bit complex in nature thats why i outlined breakout strategy as its very known one it add other filters to it & its automated as its hard to trade manually and baby sit these many pairs
Scoobi doobi doo
  • #6
  • Sep 5, 2014 2:11am Sep 5, 2014 2:11am
Quoting Scoobidoobi
{quote} No Richard, please refer to the trade explorer thats the pips grabbed by the system trading those pairs for past 2-3 days as we had lot of trending moves . The strategy is hard to explain & bit complex in nature thats why i outlined breakout strategy as its very known one it add other filters to it & its automated as its hard to trade manually and baby sit these many pairs
Sorry, i am new in forexfactory. In this case are how we going to know more on your 'concept' you mentioned on title "Proof of concept to make good pips"? Is this totally a newly tested system? Frankly speaking i am looking for a way to making $ here, 2400 pips is fantastic figures. Btw if we refer to the win/loss pips ratio(+11294/-8749=1.29) it seem quite low. Meaning to say the drawdown maybe significant in someway. Had you done any back-test on this system?
  • #7
  • Sep 5, 2014 5:51am Sep 5, 2014 5:51am
Quoting richardchiam
{quote} Sorry, i am new in forexfactory. In this case are how we going to know more on your 'concept' you mentioned on title "Proof of concept to make good pips"? Is this totally a newly tested system? Frankly speaking i am looking for a way to making $ here, 2400 pips is fantastic figures. Btw if we refer to the win/loss pips ratio(+11294/-8749=1.29) it seem quite low. Meaning to say the drawdown maybe significant in someway. Had you done any back-test on this system?

Its not a new system, forward test is what being done right now richard.., stay tuned.
Scoobi doobi doo
  • #8
  • Sep 6, 2014 10:11am Sep 6, 2014 10:11am
I can see you have really diversified, but what position sizing and money management rules are you using?
  • #9
  • Sep 7, 2014 11:49pm Sep 7, 2014 11:49pm
Quoting 12pips
I can see you have really diversified, but what position sizing and money management rules are you using?
Right 12pips its pretty diversified.

I use multi timeframe trading on H1,H4 & D1 for each of the pairs from below category

Category i) : Majors + Gold
Category ii) : UJ + all Cross Jpy pair

Signal from D1 is given as higher weightage & lot management is done accordance with timeframe i.e H1 < H4 < D1 type plus I use internal hedge in form of pending orders too to keep the DD <20 . I keep closing all the positions at one go if the AccountProfit() turns positive to certain pips that helps in refreshing the orders stack all the time and take new positions..

So far you can see in the forward test it has done 377usd as profit (~2400pips) plus total volume of lots closed is 61.6 lots implies another commision rebate of 61.6 * 6 about 360usd already in kitty safely thats actually the objective...
Scoobi doobi doo
  • #10
  • Edited 10:27pm Sep 8, 2014 12:19pm | Edited 10:27pm
cool pipsy!
Scoobi doobi doo
  • #11
  • Edited 4:29am Sep 11, 2014 4:15am | Edited 4:29am
Quoting Scoobidoobi
cool pipsy!
5500+ pips

main thing for top notch performance can be extracted from this system with a broker who has no max number of trades restriction (my vote to FXPIG broker on that count)

Forward Test am running with HF Markets broker has 300 orders max limit not allowing anything beyond that is an issue , if it wasn't the case performance would be still lot better!
Scoobi doobi doo
  • #12
  • Oct 18, 2014 3:47am Oct 18, 2014 3:47am
where is the trade explorer?
DON'T TRADE THE DIRECTION, TRADE THE MOVE
  • #13
  • Last Post: Nov 18, 2015 12:07pm Nov 18, 2015 12:07pm
Quoting Pipomagic
where is the trade explorer?

attached trade explorer mate!
Scoobi doobi doo
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