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BO System? Here is "The Italian jOB"

  • #521
  • Oct 2, 2014 6:05am Oct 2, 2014 6:05am
Quoting sugarman
{quote} great day so far.{image}
You'd still be in profit even if you didn't do any doubling up, right? Or please tell me if I'm wrong.
  • #522
  • Oct 2, 2014 6:05am Oct 2, 2014 6:05am
Quoting sugarman
{quote} sure am.
any special reason you use fxdd , or just random?
  • #523
  • Oct 2, 2014 6:16am Oct 2, 2014 6:16am
Quoting nervesof
{quote} You'd still be in profit even if you didn't do any doubling up, right? Or please tell me if I'm wrong.
that`s correct, could really do without the doubling up but its the only way to recoup my losses.
Plan, Patience, Profit
  • #524
  • Oct 2, 2014 6:19am Oct 2, 2014 6:19am
Quoting vanupips
{quote} any special reason you use fxdd , or just random?
I have an account with them and IG, but FXDD charts are more accurate than some other brokers.
Plan, Patience, Profit
  • #525
  • Oct 2, 2014 6:29am Oct 2, 2014 6:29am
Quoting sugarman
{quote} that`s correct, could really do without the doubling up but its the only way to recoup my losses.
Great, thanks. I get that it works for you but as a newbie to this strategy (which I really like, btw) I need to build up my confidence. In your experience can I still make money with the following strategy. Each day, stop after 3 losing trades or 1 losing trade after 3 or more winners. So however many winners in a row, I'd keep going but once I exceeded 3 winners, stop for the day on the next losing trade. Today I'm 3-3 so am stopping. So, can I still be profitable, do you think?
  • #526
  • Oct 2, 2014 6:36am Oct 2, 2014 6:36am
Quoting nervesof
{quote} Great, thanks. I get that it works for you but as a newbie to this strategy (which I really like, btw) I need to build up my confidence. In your experience can I still make money with the following strategy. Each day, stop after 3 losing trades or 1 losing trade after 3 or more winners. So however many winners in a row, I'd keep going but once I exceeded 3 winners, stop for the day on the next losing trade. Today I'm 3-3 so am stopping. So, can I still be profitable, do you think?
Everybody has their own limit and MM, that is very important. I really cannot advise you, it`s what ever you are comfortable with, I think what you have mentioned here go with that until you build your confidence, only you will know.

sell USD/JPY
Plan, Patience, Profit
  • #527
  • Oct 2, 2014 6:40am Oct 2, 2014 6:40am
winner
Attached Image


sell GBP/JPY
Plan, Patience, Profit
  • #528
  • Oct 2, 2014 6:46am Oct 2, 2014 6:46am
yup

that`s my lot for the day news out now and at 13.30.
Attached Image
Plan, Patience, Profit
  • #529
  • Oct 2, 2014 6:56am Oct 2, 2014 6:56am
Quoting sugarman
{quote} Everybody has their own limit and MM, that is very important. I really cannot advise you, it`s what ever you are comfortable with, I think what you have mentioned here go with that until you build your confidence, only you will know. sell USD/JPY
Sorry if it sounded as though I wanted advice, I thought you might have an idea if such a MM strategy could still be profitable using this trading strategy. Anyhow, I shall try it out and report back how I'm getting on.
  • #530
  • Oct 2, 2014 7:01am Oct 2, 2014 7:01am
congrats on ur trading sugarman....looking at ur stochs and the trigger candle it shows that there were a couple of candles already touching the 95 level before the candle u used as trigger...as per ur method u take trades as soon as the candle that touching the 95 o 5 level closes...am I missing something...I have backtested and on quite a number of occasions the stoch stays at the 5 and 95 level for a while...please could u elaborate on that. I have marked with the black horizontal line where the candles were touching the 95 stochs level.

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: trade.png Size: 14 KB
  • #531
  • Oct 2, 2014 8:24am Oct 2, 2014 8:24am
Dennis: I think you should download BO Signal V3 (made by Swingman here) for backtesting. It will be more accurate

Nervesof: I am trying to plan a MM strategy about sugarman's system which could be profitable if there is no more 4 losses in a raw. Because i think we don't need to risk our capital with a bad martinguale if it happen in the future 10 or more consecutive losses on a pair...
Sugarman said that he had no more than 4 consecutives losses in a raw in the past 5 month. So i think it could be profitable with good MM to stop the martinguale at 4 consecutives losses max.
  • #532
  • Oct 2, 2014 8:27am Oct 2, 2014 8:27am
Maybe sugarman can post his stoch indicator. I don´t get the same entreis as him even with the same broker. Standard MT4 Stoch is almost always around 90 or 10, when sugarman posts entries. Actually those that do reach my 5/95 line produce 54% only since Aug 14 on major 10 Pairs.
  • #533
  • Oct 2, 2014 8:32am Oct 2, 2014 8:32am
SeeTheStars: Do you set your stoch indi with the good settings ? (Level 95/5, 14,3,3 and Close/Close - Simple) ?
  • #534
  • Oct 2, 2014 8:37am Oct 2, 2014 8:37am
Quoting Jb38
Dennis: I think you should download BO Signal V3 (made by Swingman here) for backtesting. It will be more accurate Nervesof: I am trying to plan a MM strategy about sugarman's system which could be profitable if there is no more 4 losses in a raw. Because i think we don't need to risk our capital with a bad martinguale if it happen in the future 10 or more consecutive losses on a pair... Sugarman said that he had no more than 4 consecutives losses in a raw in the past 5 month. So i think it could be profitable with good MM to stop the martinguale...
Please stop. Would you never use martingale. Even if sugarman has had success with his martingale and had no more than 4 losses. That is pretty lucky. Mathematically, using a martingale is never +ev unless you have unlimited capital and stakes. Sooner or later, it will hit you.
  • #535
  • Oct 2, 2014 10:43am Oct 2, 2014 10:43am
SeaTheStars, i'm just interesting by the strategy. Only demo. I never use - never will - use a martinguale on my live account .
  • #536
  • Oct 2, 2014 10:58am Oct 2, 2014 10:58am
Quoting SeaTheStars
Maybe sugarman can post his stoch indicator. I don´t get the same entreis as him even with the same broker. Standard MT4 Stoch is almost always around 90 or 10, when sugarman posts entries. Actually those that do reach my 5/95 line produce 54% only since Aug 14 on major 10 Pairs.
The stoch indicator is the standard one in MT4, nothing fancy just set to 14.3.3 and levels 95 / 5, that`s it simple. I cant understand why some people cannot use it, maybe they should stick to Mike`s original method on his first post.
Plan, Patience, Profit
  • #537
  • Oct 2, 2014 10:59am Oct 2, 2014 10:59am
Quoting SeaTheStars
{quote} Please stop. Would you never use martingale. Even if sugarman has had success with his martingale and had no more than 4 losses. That is pretty lucky. Mathematically, using a martingale is never +ev unless you have unlimited capital and stakes. Sooner or later, it will hit you.
You may as well say that trading is a game of luck, all methods / systems will fail at some point, fact.
Plan, Patience, Profit
  • #538
  • Oct 2, 2014 11:03am Oct 2, 2014 11:03am
Quoting dennis4u15
congrats on ur trading sugarman....looking at ur stochs and the trigger candle it shows that there were a couple of candles already touching the 95 level before the candle u used as trigger...as per ur method u take trades as soon as the candle that touching the 95 o 5 level closes...am I missing something...I have backtested and on quite a number of occasions the stoch stays at the 5 and 95 level for a while...please could u elaborate on that. I have marked with the black horizontal line where the candles were touching the 95 stochs level. Regards...
no your not missing something, maybe as SeaTheStars puts it "I`m just pretty lucky".
Plan, Patience, Profit
  • #539
  • Oct 2, 2014 11:19am Oct 2, 2014 11:19am
my lucky trades have performed well today,+£683 over 6 pairs.

so that`s £2071 for the week, what do you reckon SeaTheStars, another lucky week.
Plan, Patience, Profit
  • #540
  • Oct 2, 2014 12:10pm Oct 2, 2014 12:10pm
Quoting dennis4u15
congrats on ur trading sugarman....looking at ur stochs and the trigger candle it shows that there were a couple of candles already touching the 95 level before the candle u used as trigger...as per ur method u take trades as soon as the candle that touching the 95 o 5 level closes...am I missing something...I have backtested and on quite a number of occasions the stoch stays at the 5 and 95 level for a while...please could u elaborate on that. I have marked with the black horizontal line where the candles were touching the 95 stochs level. Regards...
Hi Dennis, I'm obviously not Sugarman but looking at my own MT4 chart I can tell you that in the two instances you mention, the signal line hadn't broken 95 in either case. At 13.00 (the candle before Sugarman's entry) the signal value was 94.6919 (although the main value was 96.6377) and at 14.25 the signal value was 92.5417, even though the main value was 100. The candles he entered on were the first ones where the signal value (which always breaches 95/5 later than the main value) had exceeded 95. Of course, on your MT4 platform it could be that the signal line had broken 95 on the candles you're referring to, since there does seem to be quite a bit of divergence from platform to platform.
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