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Daily green/red candle

  • #1,021
  • Jun 4, 2015 5:26am Jun 4, 2015 5:26am


Quoting XavierParisF
{quote} Oh la la Dimdel, your start breaking your rules!!! Remember what all successfull traders say: - discipline - persistence - consistency - patience - control emotions (good and bad) - trust in the system with its exisiting parameters (not changing ones according to the news). You may be right this time, but put your fingers in the nasty game of greed. You may be tempted to do the same a second time later on, if another news attracts you, and unfortunately when you change the rules, since you have not backtested the news rules, you enter a...
Combination of Edge, Pivot Zone, ADR and magic of PA is A+ Probability
  • #1,022
  • Jun 4, 2015 5:37am Jun 4, 2015 5:37am
Quoting andy_l
{quote}
Yes Andy -you are right. Chopping and changing and tinkering are the hall marks of a losing trader. Discipline and faith in your system is key. The trader will have losers -the trader must accept that.
every Saint has a past. Every Sinner has a Future
  • #1,023
  • Jun 4, 2015 7:56am Jun 4, 2015 7:56am
Quoting XavierParisF
{quote} Oh la la Dimdel, your start breaking your rules!!! Remember what all successfull traders say: - discipline - persistence - consistency - patience - control emotions (good and bad) - trust in the system with its exisiting parameters (not changing ones according to the news). You may be right this time, but put your fingers in the nasty game of greed. You may be tempted to do the same a second time later on, if another news attracts you, and unfortunately when you change the rules, since you have not backtested the news rules, you enter a...
right xavier

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I need psychiatric treatment ?
  • #1,024
  • Jun 4, 2015 8:16am Jun 4, 2015 8:16am
You no listen -you keep changing your mind -stick to your method. Yes you need self discipline which you can train yourself to become or get the help you allude to but you will then have the extra expense of paying a shrink. Stop changing your mind all the time and spend time testing an approach for a few months. Either that or be an eternal wannabe trader or, worse, persistent loser.
Learn to accept criticism without being resentful thus avoiding childish replies.
every Saint has a past. Every Sinner has a Future
  • #1,025
  • Edited 10:25am Jun 4, 2015 8:26am | Edited 10:25am
Quoting turnip15
You no listen -you keep changing your mind -stick to your method. Yes you need self discipline which you can train yourself to become or get the help you allude to but you will then have the extra expense of paying a shrink. Stop changing your mind all the time and spend time testing an approach for a few months. Either that or be an eternal wannabe trader or, worse, persistent loser. Learn to accept criticism without being resentful thus avoiding childish replies.
thank you Doctor
  • #1,026
  • Jun 4, 2015 9:23am Jun 4, 2015 9:23am
Next backtest on a volatile pair: EURAUD.
Oh la la, we have problems!!!!!!!
My friends, we still have some hard work to improve the system and transform it in gold mine!
Huge drawdown during 4 months, system not yet positive at the end of the backtest period...
In addition to that, the more I backtest, the more I notice that most of pairs are in drawdown at the same time (February/March).
This is really a concern.
Regression lines on the Equity curve and Trades profiles are misleading. The risk coefficient (Sharpe) is very bad.
This backtest doens not kill the system but it a severe warning.
The system is not robust at this stage of the backtests.
Further backtesting still needed.
Attached File(s)
File Type: xlsx Daily GreenRed Backtest Results V3.xlsx   121 KB | 363 downloads
  • #1,027
  • Jun 4, 2015 10:29am Jun 4, 2015 10:29am
Quoting XavierParisF
Next backtest on a volatile pair: EURAUD. Oh la la, we have problems!!!!!!! My friends, we still have some hard work to improve the system and transform it in gold mine! Huge drawdown during 4 months, system not yet positive at the end of the backtest period... In addition to that, the more I backtest, the more I notice that most of pairs are in drawdown at the same time (February/March). This is really a concern. Regression lines on the Equity curve and Trades profiles are misleading. The risk coefficient (Sharpe) is very bad. This backtest doens...

read the 1st post please


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  • #1,028
  • Jun 4, 2015 10:57am Jun 4, 2015 10:57am
Dim - you are thrashing around in the dark. There is no holy grail of trading but I fear you are a dreamer. I expect you will make another childish reply but who cares -Keep your eyes shut and refuse debate and no one will then puncture your dream of being a profitable trader. Good bye -and I wish you success when you grow up.
every Saint has a past. Every Sinner has a Future
  • #1,029
  • Jun 4, 2015 11:04am Jun 4, 2015 11:04am
Quoting turnip15
Dim - you are thrashing around in the dark. There is no holy grail of trading but I fear you are a dreamer. I expect you will make another childish reply but who cares -Keep your eyes shut and refuse debate and no one will then puncture your dream of being a profitable trader. Good bye -and I wish you success when you grow up.

I'm not your father
I'm not your Teacher
I am not your psychanalitis
so
Do not take out your children's problems here
here is place for strong men my boy
  • #1,030
  • Jun 4, 2015 2:44pm Jun 4, 2015 2:44pm
Quoting turnip15
Dim - you are thrashing around in the dark. There is no holy grail of trading but I fear you are a dreamer. I expect you will make another childish reply but who cares -Keep your eyes shut and refuse debate and no one will then puncture your dream of being a profitable trader. Good bye -and I wish you success when you grow up.
Calm down!
I am more afraid of 100 sheep led by a lion than 100 lions led by a sheep!
  • #1,031
  • Jun 4, 2015 2:46pm Jun 4, 2015 2:46pm
See what we are doing trading sup n res.

http://www.forexfactory.com/showthre...95#post8306195
I am more afraid of 100 sheep led by a lion than 100 lions led by a sheep!
  • #1,032
  • Jun 4, 2015 3:49pm Jun 4, 2015 3:49pm
Quoting turnip15
Dim - you are thrashing around in the dark. There is no holy grail of trading but I fear you are a dreamer. I expect you will make another childish reply but who cares -Keep your eyes shut and refuse debate and no one will then puncture your dream of being a profitable trader. Good bye -and I wish you success when you grow up.
There are several posters, here, who are doing well with the strategy(myself, included). I appreciate that dimdel started this thread. You are entitled to express your personal opinion, but I believe your remarks are heavy-handed.
  • #1,033
  • Jun 4, 2015 4:07pm Jun 4, 2015 4:07pm
Quoting Opemipo
See what we are doing trading sup n res. http://www.forexfactory.com/showthre...95#post8306195
Excellent work - I'm impressed. You epitomize the saying, "The bullsh*t stops when the green flag drops."
  • #1,034
  • Jun 4, 2015 4:32pm Jun 4, 2015 4:32pm
Quoting ChicagoRob
{quote} There are several posters, here, who are doing well with the strategy(myself, included). I appreciate that dimdel started this thread. You are entitled to express your personal opinion, but I believe your remarks are heavy-handed.
Hi Bob,
Are you trading the Daily Green/Red system on a systematic basis (each color changes with Dimdel rules) or are you selective in your trades?
Do you use filters to trigger entries?
Good evening
Xavier
  • #1,035
  • Jun 4, 2015 4:32pm Jun 4, 2015 4:32pm
Quoting ChicagoRob
{quote} There are several posters, here, who are doing well with the strategy(myself, included). I appreciate that dimdel started this thread. You are entitled to express your personal opinion, but I believe your remarks are heavy-handed.
This is a momentum driven way of trading which gets you on the ride in the direction the pair is currently trending. People can trade it the way they want to with whatever stops and take profit they like. I am doing fairly well with it myself by generally taking trades that match the monthly trend.
  • #1,036
  • Jun 4, 2015 4:33pm Jun 4, 2015 4:33pm
Quoting stevepatt
{quote} My Pending Buy Stops on GBP/JPY and GBP/USD are in play. The other Pending Orders I have closed. UDSD/JPY Pending Buy Stop Yesterdays Bearish Trade failed to activate and yesterdays Candle closed Bullish hence I have placed a Pending Buy Stop GBP/USD Pending Sell Stop YesterdaysBuy Stop activated and yesterdays Candle closed Bearish hence I have placed a Pending Sell Stop USD/CAD Pending Buy Stop Yesterdays Sell Stop failed to activate and yesterdays Candle closed Bullish hence I have placed a Buy Stop NZD/USD Pending Sell Stop Yesterdays...

The GBP/JPY Buy Trade has reached the 1.50 Fib. Level the SL has been moved to BE +10
The GBP/USD Buy Trade is still active
The USD/JPY Buy Trade is active
The NZD/USD Sell Trade is active
The USD/CAD Buy Trade is active

I have 2% overall exposure 0.5% exposure per Trade

EUR/USD Pending Sell Stop
AUD/USD Pending Sell Stop
EUR/JPY Pending Sell Stop
AUD/JPY Pending Sell Stop
EUR/GBP Pending Sell Stop
  • #1,037
  • Jun 4, 2015 4:44pm Jun 4, 2015 4:44pm
Quoting Opemipo
See what we are doing trading sup n res. http://www.forexfactory.com/showthre...95#post8306195
I love the daily candle approach but I hate trading many setups with 40-60 loss-profit.

I prefer 3-6 trades a week with 100% profit.
I am more afraid of 100 sheep led by a lion than 100 lions led by a sheep!
  • #1,038
  • Jun 4, 2015 4:59pm Jun 4, 2015 4:59pm
Quoting Opemipo
{quote} I love the daily candle approach but I hate trading many setups with 40-60 loss-profit. I prefer 3-6 trades a week with 100% profit.
This is what I mean.

http://www.forexfactory.com/showthre...84#post8306484
I am more afraid of 100 sheep led by a lion than 100 lions led by a sheep!
  • #1,039
  • Jun 4, 2015 5:14pm Jun 4, 2015 5:14pm
Quoting XavierParisF
{quote} Hi Bob, Are you trading the Daily Green/Red system on a systematic basis (each color changes with Dimdel rules) or are you selective in your trades? Do you use filters to trigger entries? Good evening Xavier
I usually start with 20 pairs and drill down to the best four or five candidates. My entries are exactly per dimdel's rules,
with 0.0 fib as SL, and 100.0 as the entry. My primary goal is 160.0 fib, but it can end up at a lower/higher number, depending on how the trade develops. I look for momentum in the entry candle. If I see price stalling, as witnessed by a small candle body, I may exit early by taking whatever I can off the table. I would rather pull 15-20 pips than end up with BE+5. When I see excellerated price action and a big candle body, I will babysit the trade and trail-stop as required. If I see momentum slowing down, I put my TS closer to price and let it stop itself out.


Yeah, I know it's not very mechanical, but it works pretty well. Hopefully, someone can break me away from my rather discretionary methodology. The less time monitoring the trades, the better.
  • #1,040
  • Jun 4, 2015 10:15pm Jun 4, 2015 10:15pm
Thanks for sharing your method...

Quoting ChicagoRob
{quote} I usually start with 20 pairs and drill down to the best four or five candidates. My entries are exactly per dimdel's rules, with 0.0 fib as SL, and 100.0 as the entry. My primary goal is 160.0 fib, but it can end up at a lower/higher number, depending on how the trade develops. I look for momentum in the entry candle. If I see price stalling, as witnessed by a small candle body, I may exit early by taking whatever I can off the table. I would rather pull 15-20 pips than end up with BE+5. When I see excellerated price action and a big candle...
Combination of Edge, Pivot Zone, ADR and magic of PA is A+ Probability
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