PoundTrader Goes Crazy On The Market | Forex Factory

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PoundTrader Goes Crazy On The Market

  • #1
  • First Post: Edited 3:58am Jun 19, 2015 3:44am | Edited 3:58am
i had to pull back from the market and readjust my system, im still having some hick ups so i will continue testing until im ready to go forward.

I trade the high low breakout strategy you can look it up on the internet

Requirements for the Breakout Strategy

Identify the price range of the previous day (High – Low)

Look back 2 days to see if the range for the previous day deviates greatly from the range set 2 days ago. You want to avoid a situation where the ranges are completely erratic and a break of the range means little.

Buy or sell short once the current day’s range breakout exceeds the previous day’s range by 5%.

Use a simple moving average to stop yourself out of the trade, Logic here is you are buying or shorting the start of a new impulse trend, so you want to go along for the ride.
  • #2
  • Jun 19, 2015 3:49am Jun 19, 2015 3:49am
over the weekend i will attempt to adjust my system so i only need to trade at end of day, that will be my overall all goal with my system, so starting next week on june 22nd 2015 i will trade end of day without doing any back testing.
  • #3
  • Jun 19, 2015 4:01am Jun 19, 2015 4:01am
Quoting PoundTrader
i had to pull back from the market and readjust my system, im still having some hick ups so i will continue testing until im ready to go forward. I trade the high low breakout strategy you can look it up on the internet Requirements for the Breakout Strategy Identify the price range of the previous day (High Low) Look back 2 days to see if the range for the previous day deviates greatly from the range set 2 days ago. You want to avoid a situation where the ranges are completely erratic and a break of the range means little. Buy or sell short once...
i was trading this on the 4hr chart with some success now im gonna do it on the daily chart the way most traders trade this kind of system.
  • #4
  • Jun 19, 2015 4:05am Jun 19, 2015 4:05am
as you can see from the explorer i took some high leverage trades, i did that because i see certain set-up that look like home run trades, i will still explore these set-ups more over the weekend
  • #5
  • Jun 19, 2015 4:09am Jun 19, 2015 4:09am
as you can see i took a heavy ass whooping this week
  • #6
  • Jun 19, 2015 4:12am Jun 19, 2015 4:12am
this system will be change on the fly, i was using it on the 4hr chart now im gonna try it on the daily chart next week i like to mix things up and try new things
  • #7
  • Jun 19, 2015 4:23am Jun 19, 2015 4:23am
im looking into a offshore broker for u.s. residents where i can get higher leverage and i think i found one i can trust i will continue to investigate, tradestation forex lower u.s. traders leverage to 3% so il be moving on from them
  • #8
  • Jun 19, 2015 4:28am Jun 19, 2015 4:28am
i give a system 6 months before i know if it's a winner the 6months is up on the 4hr chart trading of this system now im gonna try the daily chart trading this system, if it fails then i will just use it on the 4hr chart.
  • #9
  • Jun 19, 2015 4:29am Jun 19, 2015 4:29am
Quoting PoundTrader
im looking into a offshore broker for u.s. residents where i can get higher leverage and i think i found one i can trust i will continue to investigate, tradestation forex lower u.s. traders leverage to 3% so il be moving on from them
Something you might be interested =)
http://www.forexbrokerinc.com/

I had a chat with them couple months ago, and they do take US traders. Business seems legit although your investment is not secured. I think you know that part already. Good luck.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #10
  • Jun 19, 2015 4:30am Jun 19, 2015 4:30am
ok enough of me talking, as you guys know i don't come here for info in fact i don't contribute nothing at all to this forum i just come when i get bored,
  • #11
  • Jun 19, 2015 4:31am Jun 19, 2015 4:31am
Quoting FXSayWhat
{quote} Something you might be interested =) http://www.forexbrokerinc.com/ I had a chat with them couple months ago, and they do take US traders. Business seems legit although your investment is not secured. I think you know that part already. Good luck.
thanks for the info
  • #12
  • Jun 19, 2015 4:36am Jun 19, 2015 4:36am
i trade all major and minor pairs thats about 27 pairs, never limit yourself
  • #13
  • Jun 19, 2015 5:06am Jun 19, 2015 5:06am
every system you see over the internet you have to put your personal touch on it for it to be successful, in other words you have to adjust the system to a winning system
  • #14
  • Jun 19, 2015 5:51am Jun 19, 2015 5:51am
The best trading systems to adjust are the ones build for other markets like future and options market, very easy to adjust them for the forex market also helps you undertand the ins and outs of the system as your working on them.
  • #15
  • Jun 19, 2015 5:56am Jun 19, 2015 5:56am
it's not about the win% it's about the set-ups, what i mean by that is you can take smaller trades base on how you feel about the set up of the trade then when you see a set-up 99% winner every time you go in with a bigger trade size, hopefully that trades makes up for the small loses
  • #16
  • Jun 19, 2015 6:07am Jun 19, 2015 6:07am
I love you, and because I love you, I would sooner have you hate me for telling you the truth than adore me for telling you lies.
  • #17
  • Jun 19, 2015 12:52pm Jun 19, 2015 12:52pm
Quoting PoundTrader
{quote}thanks for the info
All-in on high leverage does require skills. I have a setup for all-in w/ high leverage as well. I say it's quite additive, too if you know what i mean.

You gotta to be a quite swordman if you gonna be waving this leverage sword 24/7. Believe or not, I actually have been paying attention to you since the time I joined FF couple years ago. I had a taste of your trading style (or styles). I too have invest a lot time in trading sizes. I am the all-in type guys as well.

Don't give up, and I hope this new system would take you to your next stage. Don't worry about what happened before. All greatness came from failures. You are doing something good here, and it's already showing result in your last 120+ trades, right?

Cheers.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #18
  • Jun 19, 2015 1:01pm Jun 19, 2015 1:01pm
Quoting FXSayWhat
{quote} All-in on high leverage does require skills. I have a setup for all-in w/ high leverage as well. I say it's quite additive, too if you know what i mean. You gotta to be a quite swordman if you gonna be waving this leverage sword 24/7. Believe or not, I actually have been paying attention to you since the time I joined FF couple years ago. I had a taste of your trading style (or styles). I too have invest a lot time in trading sizes. I am the all-in type guys as well. Don't give up, and I hope this new system would take you to your next stage....
https://www.tallinex.com/ thanks bro
  • #19
  • Jun 19, 2015 1:05pm Jun 19, 2015 1:05pm
im not concern about using the system on a 4hr chart i know it works just that you must wake up every 4hr to check all 27 pairs to see if you got a signal or not, most days you don't so im always up, if i can limit checking the chart daily one time a day this will save me time and energy, next week will give me a answer.
  • #20
  • Jun 19, 2015 4:14pm Jun 19, 2015 4:14pm
Quoting PoundTrader
{quote}https://www.tallinex.com/ thanks bro
I will probably give a try and start with 100 bucks just to see how realizable it is.
Are u thinking about trying it too?
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
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