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5 PIPS - Only Five

  • #861
  • Nov 17, 2014 12:02pm Nov 17, 2014 12:02pm
tk5, thank yo for your help... I just adjusted the settings and will continue to work in demo until I get at least a 8/10 success rate.
RHoudini, thank you for your comment also. You are probably an experience trader. I am not and this method is helping me understand things I did not in the past. Simple is not bad, its good and yes, you are right when you talk about the risk but at the same time if I can prove in my demo account that I can make 8/10 trades right and maybe get off some of the wrong trades before hitting SLīs I believe this method might work. One of the things I am not doing right at the moment is to stay infront of the computer while the trades happens. Maybe if I stay I can get off a trade before hitting the negative 15 pips mark.
Any way, so far, while learning, the only thing been hurt is my demo account and I can only say thank you to tk5 and other senior members like you RHoudini for building up on the system as even though you do not agree with it you through interesting things to think about so it also builds on it. Thank you and good luck to you all.
  • #862
  • Nov 17, 2014 12:09pm Nov 17, 2014 12:09pm
Quoting Manu27
tk5, thank yo for your help... I just adjusted the settings and will continue to work in demo until I get at least a 8/10 success rate. RHoudini, thank you for your comment also. You are probably an experience trader. I am not and this method is helping me understand things I did not in the past. Simple is not bad, its good and yes, you are right when you talk about the risk but at the same time if I can prove in my demo account that I can make 8/10 trades right and maybe get off some of the wrong trades before hitting SLīs I believe this method...
if you listen to 'smarties' like Rhoudini you will go crazy one day)))))) he has nothing with this thread.
always draw trendlines
  • #863
  • Nov 17, 2014 12:11pm Nov 17, 2014 12:11pm
Quoting RHoudini
{quote} You've discovered the basic flaw of "the system" and of this whole thread. It's easy to make 5 pips if you're ready to lose 15 pips. Even with completely random entry points you'll have a 75% success rate, but in the end you don't win anything - you just pay the spread to your broker who will be extremely happy with your large amount of small trades. To make a profit you need an edge, i.e. your trades need to be more successful than a random trade. What is discussed in this thread doesn't provide an edge, the basic system as it was presented...
What do you think happens to that 75% win 'random entry' success rate when you apply it to the direction of a trend? There's one of your edges Einstein.
  • #864
  • Nov 17, 2014 12:12pm Nov 17, 2014 12:12pm
Quoting tk5
{quote} BTW, Viper managing over 600.000 USD of account uses 1:500 leverage.. so, people get a life
Nope, clever clogs, not the $600,000 account. The clue is in the picture, bottom RH figure. But it is academic, you clearly missed the point of the post. BTW "You" do not trade without a stoploss, so you said, so what is the problem with reinforcing that?
Cut your Losers short and let your Winners run.
  • #865
  • Nov 17, 2014 12:18pm Nov 17, 2014 12:18pm
Quoting dee50
{quote} Nope, clever clogs, not the $600,000 account. The clue is in the picture, bottom RH figure. But it is academic, you clearly missed the point of the post. BTW "You" do not trade without a stoploss, so you said, so what is the problem with reinforcing that?
mate I quoted your post to say a different point about Leverage, relax.

and yes, Stoploss is piece of crap when have enough balance and strongly believe your entry and lot size.
always draw trendlines
  • #866
  • Nov 17, 2014 12:27pm Nov 17, 2014 12:27pm
Quoting tk5
{quote} mate I quoted your post to say a different point about Leverage, relax.
OK obviously a misunderstanding on my part. Just like to point out that "Get A Life" is usually used as a derogatory remark in English. I made a similar mistake in Spanish, I called some one a "cabron" (bastard) in a jocular way not realising that it was extremely insulting, if I had called him "bastardo" he would not have taken offence.
Cut your Losers short and let your Winners run.
  • #867
  • Nov 17, 2014 12:28pm Nov 17, 2014 12:28pm
Quoting NaughtyPip
{quote} What do you think happens to that 75% win 'random entry' success rate when you apply it to the direction of a trend? There's one of your edges Einstein.
It doesn't improve enough to compensate for the very bad gain to cost ratio of these short-term micro-trades (5 pips gain vs. 1.5 to 2 pips cost).
I invite you to do a backtracing test with real broker tick data (say for EURUSD, GBPUSD and JPYUSD) over the past 10 years, it will show you that this is a losing proposition because of the relatively high spread. Don't need Einstein to do that .
  • #868
  • Nov 17, 2014 12:35pm Nov 17, 2014 12:35pm
Quoting RHoudini
{quote} It doesn't improve enough to compensate for the very bad gain to cost ratio of these short-term micro-trades (5 pips gain vs. 1.5 to 2 pips cost). I invite you to do a backtracing test with real broker tick data (say for EURUSD, GBPUSD and JPYUSD) over the past 10 years, it will show you that this is a losing proposition because of the relatively high spread. Don't need Einstein to do that .
there will be many many like yourself, offended by spreads, in this planet as long as traders still use regular STP but not ECN
always draw trendlines
  • #869
  • Nov 17, 2014 12:41pm Nov 17, 2014 12:41pm
Quoting RHoudini
{quote} It doesn't improve enough to compensate for the very bad gain to cost ratio of these short-term micro-trades (5 pips gain vs. 1.5 to 2 pips cost). I invite you to do a backtracing test with real broker tick data (say for EURUSD, GBPUSD and JPYUSD) over the past 10 years, it will show you that this is a losing proposition because of the relatively high spread. Don't need Einstein to do that .

To backtest this manually over 10 years on 15 min charts would take months to do, i'm positive you didnt do that.If you only take the best of setups,no reason this wouldnt be 80-90% if you were in front of charts, and not everybody is taking 15-20 pip losses, you can easily keep these below 8-9, and he said net 5 pips once again your cutting it down to 3-3.5 its net 5 as in you make 5 every single time, target would be 8-9 pip so thats real close to 1:1 stop out ratio with 80-90% win ratio, you get the idea. Yes please backtest it 10 years let me know in 3 months what you come up with.
  • #870
  • Nov 17, 2014 12:43pm Nov 17, 2014 12:43pm
Quoting tk5
{quote} listen Houdini..if you consider yourself 'smart' professional trader and regard this thread too basic for yourself would you tell us which system/method on FF made you a millionaire? How much money did you earn in your lifetime from 'better sophisticated' strategies? stop showing silly attitude here..annoying. (if you had objective eyes you could see we are talking about 5 net pips..learn reading first.)
I am a long-term profitable trader, but that isn't even relevant.
YOU should be able to demonstrate that YOUR system is profitable. Isn't that the point of this thread?
What has been presented in this thread is not a profitable strategy on the 3 pairs (EURUSD, GBPUSD and USDJPY) I back-tested using Oanda's tick-by-tick data from 2005 to 2014.

Quoting tk5
(if you had objective eyes you could see we are talking about 5 net pips..learn reading first.)
The gain vs. cost ratio is, as I said, 5 pips to 1.5-2 pips spread.
It's just awful, your broker will be extremely happy.
  • #871
  • Nov 17, 2014 12:47pm Nov 17, 2014 12:47pm
Quoting srmiller82
{quote} To backtest this manually...
Joking, right?
I use software that performs 10 years of back-testing (over 100 million tick points) in a couple of minutes.
  • #872
  • Nov 17, 2014 12:51pm Nov 17, 2014 12:51pm
Quoting RHoudini
{quote} I am a long-term profitable trader, but that isn't even relevant. YOU should be able to demonstrate that YOUR system is profitable. Isn't that the point of this thread? What has been presented in this thread is not a profitable strategy on the 3 pairs (EURUSD, GBPUSD and USDJPY) I back-tested using Oanda's tick-by-tick data from 2005 to 2014. {quote} The gain vs. cost ratio is, as I said, 5 pips to 1.5-2 pips spread. It's just awful, your broker will be extremely happy.
Do you read what I am writing here? do you know what is ECN after all as a profitable trader?...Have you seen 0.0 spread on EU?. seems you haven't.

as for the thread -you havent got its point at all.

ticks? gimme break..one cant even and doesnt need to backtest this method, its funny. it's obvious as color white.

this method as an example, has proven profitable dozens time. just turn pages back and read.

Note: This thread is not promoting a single System...it is opening peoples eyes.
always draw trendlines
  • #873
  • Nov 17, 2014 1:00pm Nov 17, 2014 1:00pm
Don't fight over 5 pips
its not worth it..
  • #874
  • Nov 17, 2014 1:06pm Nov 17, 2014 1:06pm
Quoting tk5
{quote} Do you read what I am writing here? do you know what is ECN after all as a profitable trader?...Have you seen 0.0 spread on EU?. seems you haven't.
You pay a commission to the ECN broker, didn't you know?
The cost to gain ratio remains very bad for micro-transactions, whether you pay by spread or by commission.

Quoting tk5
as for the thread -you havent got its point at all. ticks? gimme break..one cant even and doesnt need to backtest this method, its funny. it's obvious as color white. this method as an example, has proven profitable dozens time. just turn pages back and read. Note: This thread is not promoting a single System...it is opening peoples eyes.
As I said before, there is a reason why all of this is found in "Rookie Talk".
  • #875
  • Nov 17, 2014 1:10pm Nov 17, 2014 1:10pm
Quoting RHoudini
{quote} You pay a commission to the ECN broker, didn't you know? The cost to gain ratio remains very bad for micro-transactions, whether you pay by spread or by commission. {quote} As I said before, there is a reason why all of this is found in "Rookie Talk".
I think you cant read..I responded to you about Rookie Talk thing (its Admin subjective decision)...if this is a 'rookie method' whatta hell are you doing here?? why wouldnt you swim in the "Sea of Systems" in Trading System category from shore to shore try to find Holy Grail??

you are just working hard to show how 'smart' you are..In fact, me as a trader never used standard account only ECN so I perfectly what is it...and when I say TP 5.8-6.0 that means sth..
always draw trendlines
  • #876
  • Nov 17, 2014 1:12pm Nov 17, 2014 1:12pm
I think we should stick to our fulltime JOB make real money guaranteed
  • #877
  • Nov 17, 2014 1:15pm Nov 17, 2014 1:15pm
Please, if you don't like the "no hard stop part", shut up and go trade some shitty system. Follow this link:
http://www.forexfactory.com/forumdis...ort=replycount

The top 5 threads are all pretty shitty, but they do have a hard stop!!!!
  • #878
  • Nov 17, 2014 1:22pm Nov 17, 2014 1:22pm
Quoting RHoudini
{quote} Joking, right? I use software that performs 10 years of back-testing (over 100 million tick points) in a couple of minutes.


Hahah you cant be serious, look at when i joined buddy, you think i dont know about backtesting and all the different ways of testing strategies, the way he trades this, it CANNOT be backtested with automated software its not possible. The fact you think it can shows me all i need to know. I dont even trade this strategy, but TK has very good points on how to trade. Just because an inexperienced trader comes in and loses 15 pips trying to follow TK doesnt mean it doesnt work. IN fact i would say 70% of the systems on this site would be profitable long term if people knew how to trade I know of millionaires that trade for less than 5 pips per trade. Yes i've talked with them seen their accounts for you to come in and say 5 pips against 1.5-2 isnt worth it is one of the dumbest things ive seen on this site in a long time. Its not a crossover ema strategy that you can pipe into your software and check it. Sorry doesnt work that way. If i had time id prove it to you but if i had time maybe i'd be trading this strategy i'm constrained to a different approach because i cant be here watching it. And this strategy requires you to watch it.
  • #879
  • Nov 17, 2014 1:26pm Nov 17, 2014 1:26pm
Quoting dee50
{quote} OK obviously a misunderstanding on my part. Just like to point out that "Get A Life" is usually used as a derogatory remark in English. I made a similar mistake in Spanish, I called some one a "cabron" (bastard) in a jocular way not realising that it was extremely insulting, if I had called him "bastardo" he would not have taken offence.
I heard NIssan cant sell SUV Pajero in latin countries because 'pajero' may mean impotent?
always draw trendlines
  • #880
  • Edited 2:04pm Nov 17, 2014 1:43pm | Edited 2:04pm
Quoting tk5
{quote} I heard NIssan cant sell SUV Pajero in latin countries because 'pajero' may mean impotent?
"Pajero" I just thought of something. I had better be careful when I phone and speak to the plumbers wife and tell her "I need a pajero"
Attached Image (click to enlarge)
Click to Enlarge Name: Pajero.png Size: 33 KB
Cut your Losers short and let your Winners run.
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