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Daily green/red candle

  • #961
  • Jun 2, 2015 11:02am Jun 2, 2015 11:02am
My arsenal still consists of 20 pairs, but if I see nearly identical chart patterns on several pairs,
I choose the one with the best PA. I do my best to take pips off the table - IOW, I'd rather take
a small 10-20 pip gain, instead of taking a BE+5 trade. So, there definitely is discretion being used.

I follow this thread daily, because there are some very sharp minds here. My goal is to get my
strategy to be more rules-based and mechanical. I think this thread will give me what I'm looking
for.
  • #962
  • Jun 2, 2015 11:08am Jun 2, 2015 11:08am
Quoting ChicagoRob
My arsenal still consists of 20 pairs, but if I see nearly identical chart patterns on several pairs, I choose the one with the best PA. I do my best to take pips off the table - IOW, I'd rather take a small 10-20 pip gain, instead of taking a BE+5 trade. So, there definitely is discretion being used. I follow this thread daily, because there are some very sharp minds here. My goal is to get my strategy to be more rules-based and mechanical. I think this thread will give me what I'm looking for.

Bravo Rob
  • #963
  • Jun 2, 2015 11:19am Jun 2, 2015 11:19am
Quoting stevepatt
{quote} How many pairs are you Trading and what % of Bank are you risking per Trade? As I have stated in a previous post, the most important thing to know, with any method, is the Losing Streak that be expected because it is this information that determines the Money Management to use. It's all too easy to get carried away with the winning run and not factor in the inevitable loses. What, I'm waiting for is an EA that can be used to run accurate back tests so we have a good idea of what is achievable and the sort of DD that can be expected over...
Hey Steve,

My exposure is typically 2-3% for the entire basket. If I have five trades in play, each pair gets 20% of the total risk.
My primary goal is consistency. I'm not interested in home runs at this point, just hits.
  • #964
  • Jun 2, 2015 11:23am Jun 2, 2015 11:23am
my return

Attached Image
  • #965
  • Jun 2, 2015 12:02pm Jun 2, 2015 12:02pm
can you provide us with the template & Indicators used in these charts, thanks.

Quoting stevepin att
The USD/CAD D1 is an example of how classic "Price Action" can be misleading and the Market going against the obvious PA. The GBP/JPY chart is another example of the Market going against the obvious PA. I know, some of this was news led but it shows how difficult reading the Markets can be when using Support/Resistance and Price Action. In reality, there are no Time Frames and Market Price is Linear, a continuous line of Market movement that gets chopped into regular segments. So, something as seemingly random as a "Candle" changing colour can be...
  • #966
  • Jun 2, 2015 12:03pm Jun 2, 2015 12:03pm
Quoting dimdel
my return {image}
Nice mate. It's good to see that.

Market has been rough these 2 weeks. A lot of UPS and DOWNS
  • #967
  • Jun 2, 2015 12:29pm Jun 2, 2015 12:29pm
Quoting khanridoy
Hi bro.. How are you? I know that u backtest your strategy, but anyway i also backtest your strategy. with no change. Entry at 100 SL at 00 TP at 200 AND trsl at 140(+5 pips protection) I strictly follow the rule and done with no mistake. all entry and exit are solid with strategy. I am glad to see that they hit SL very less.. but cant catch big moves, i think we should work on this into how to catch big moves. backtest was on EURUSD(jan,feb,mar,apr) 4 month and as u can see jan gave me negative result..... {file}
Hi Khandiroy,

I have checked your backtesting results. You have missed a few orders but that does not change that much the overall results. In fact I get even better results.
The différences may come from Doji days where I have a red bars when you have a green bars (or reverse) due to our historical quotation data base which may be different by a few pips.
Main différences:
- 3 March, I find no signal wher you find one,
- 4 March, a winner of 124 pips that you didn't mention,
- 1st April, I find it winner of 76 pips instead of Breakeven,
- 26 May, a loser of 117 pips that you didn't mention.
Cumulative result since beginning of the year: you 1416 pips, me 1436, so about the same.
Conclusion: 36 trades on 5 months, it's statistically representative, and the results are not correlated to the EURUSD trend.
Very nice system!!!
Further random backtest still needed but the system seems really promizing.
Good evening to all.
Xavier
  • #968
  • Jun 2, 2015 1:12pm Jun 2, 2015 1:12pm
Quoting ChicagoRob
{quote} Hey Steve, My exposure is typically 2-3% for the entire basket. If I have five trades in play, each pair gets 20% of the total risk. My primary goal is consistency. I'm not interested in home runs at this point, just hits.

Hi Chicago;

Thanks for your reply.

I hope things continue in a positive vein for all of us.
  • #969
  • Jun 2, 2015 3:49pm Jun 2, 2015 3:49pm
if the price at this time isnt near the H/L then i can put the order now

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.png Size: 33 KB
  • #970
  • Jun 2, 2015 4:01pm Jun 2, 2015 4:01pm
if we need more cofidence , because of big movement and we afraid the correction, we can have as filter this:

but as you know nothing is for sure,
we test anything we think to help us for right pair

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_001.png Size: 68 KB
  • #971
  • Jun 2, 2015 4:27pm Jun 2, 2015 4:27pm
Hi All,
I have just finished to backtest GBPUSD for the period beginning January till now (same as EURUSD backtest).
Result is positive +876 pips (34 trades) but much less linear than EURUSD.
GBPUSD has the reputation to be a difficult pair for trading, quite choppy and speculative.
The fact that the system performs also for this kind of pair is encouraging.
Further backtest still needed on other pairs.
Xavier
  • #972
  • Jun 2, 2015 4:34pm Jun 2, 2015 4:34pm
USD/JPY Pending Sell Stop
GBP/JPY Pending Buy Stop
GBP/USD Pending Buy Stop
USD/CAD Pending Sell Stop
NZD/USD Pending Buy Stop

EUR/USD Pending Sell Stop from yesterday has been cancelled.

I'm not placing Pending Buy Stops on EUR/USD or AUD/USD, today, it doesn't look right to me. I might well be wrong on this the Market will decide.
  • #973
  • Jun 2, 2015 4:37pm Jun 2, 2015 4:37pm
Quoting XavierParisF
Hi All, I have just finished to backtest GBPUSD for the period beginning January till now (same as EURUSD backtest). Result is positive +876 pips (34 trades) but much less linear than EURUSD. GBPUSD has the reputation to be a difficult pair for trading, quite choppy and speculative. The fact that the system performs also for this kind of pair is encouraging. Further backtest still needed on other pairs. Xavier
Hi Xavier;

Thanks for taking the time to do the back testing if I have time over the weekend I'll do some myself.
  • #974
  • Jun 2, 2015 5:46pm Jun 2, 2015 5:46pm
Quoting dimdel
if the price at this time isnt near the H/L then i can put the order now {image}
Yes, this is 100% true. I always adjust my lot size, so my risk is exactly the same for every pair I trade. If my entry candle is 200 pips, my lot size will be smaller than for a candle that is 50 pips.
  • #975
  • Jun 2, 2015 5:55pm Jun 2, 2015 5:55pm
Quoting stevepatt
USD/JPY Pending Sell Stop GBP/JPY Pending Buy Stop GBP/USD Pending Buy Stop USD/CAD Pending Sell Stop NZD/USD Pending Buy Stop EUR/USD Pending Sell Stop from yesterday has been cancelled. I'm not placing Pending Buy Stops on EUR/USD or AUD/USD, today, it doesn't look right to me. I might well be wrong on this the Market will decide.

Hi Steve, on my NZDUSD chart i have a green candle for monday and place my trade according to the rules and still in the trade is still in the trade is your pending order a s/r trade ?
  • #976
  • Jun 2, 2015 10:35pm Jun 2, 2015 10:35pm
Quoting dimdel
my return {image}



My pending order today-

EU- Long (if order opens- might take few days to reach TP- but no one knows)
GU- Long
GJ- Long

total exposure at risk 4.5%
  • #977
  • Jun 2, 2015 11:36pm Jun 2, 2015 11:36pm
  •  turnfx
  • | Joined Dec 2014 | Status: Only money management is the key of | 334 Posts | Online Now
if the EU raech the buy stop i will go to the tp in this week
  • #978
  • Jun 3, 2015 12:18am Jun 3, 2015 12:18am
goodmorning to all

Yes ChicagoRob , i know that you follow exactly the rules and win every week
i think most important is the same rules and the same MM than the strategy

lifeismine , the NZDUSD must just close to entry or is valid open long if you havent TrSl

sdatta, you are right with these 3 pairs, but what filter use to select from the other 12 pairs with signal today ?


there isnt safe filter till now

the only thing that i have seen is to have ( work to me)

1) same basket all the time
2) same risk every day
3) i dont look the news
4) i prefer the best spread with the best volatility
5) i dont analyze the market with classic way, because i dont predict if the price will go to the X point, but at the 200fib and exit.
many times the movement is 500pips and we take 20 pips, ok thats the life
6) the weekly resume must be positive ( i dont care how much, but +)
7) i dont look every time the charts, 3-4 times per day
etc...
all these work to me
but any profitable way is accepted

thanks
Δ Δ.
  • #979
  • Jun 3, 2015 12:24am Jun 3, 2015 12:24am
Quoting stevepatt
USD/JPY Pending Sell Stop GBP/JPY Pending Buy Stop GBP/USD Pending Buy Stop USD/CAD Pending Sell Stop NZD/USD Pending Buy Stop EUR/USD Pending Sell Stop from yesterday has been cancelled. I'm not placing Pending Buy Stops on EUR/USD or AUD/USD, today, it doesn't look right to me. I might well be wrong on this the Market will decide.
Steve. What about GBPCHF Sell Stop ? Looks like a continuation.

DD
  • #980
  • Jun 3, 2015 12:26am Jun 3, 2015 12:26am
Quoting XavierParisF
Hi All, I have just finished to backtest GBPUSD for the period beginning January till now (same as EURUSD backtest). Result is positive +876 pips (34 trades) but much less linear than EURUSD.
Hi Xavier, what about the winning/losing order ratio? Did you filter the entries or did you just enter on every change of color?
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