{quote} Exactly , thats correct. Thanks for understandingElse I was just feeling that I talkin "Greek n Latin" in here
i will understand you, go on....
Monthly Profit - Daily Trading using SMA
- #5,122
- Sep 29, 2016 2:23am Sep 29, 2016 2:23am
- Joined Aug 2005 | Status: Trader | 1,188 Posts
{quote} ...Btw, I request to all , Is there any Trade Explorer account that is based on this strategy , so that we could follow for real statistics in future ?? It will be of real help to measure the success rate of the strategy Cheers
So I can start it today, based on trades taken since Monday. I'll use Oanda server time (GMT -4) which closes daily candle at midnight.
I'll use rules on Post #1 as much as I can (again due to discretionary nature of both entries and exits). I'll use Ghibli's template for avoiding sideways PA. Stoploss will be low/high -/+ 15 pips of the signal candle. TP1 will be upper band of BB (or if you like I can exit at the end of the same day if the position is profitable or strictly 1:1 RR), and TP2 will be when price crosses SMA 5 back +/- 15 pips (of high/low of exit candle) (or I can use any other exit rule you recommend, there are a few on Post #1, but I believe every one is using a different one, or combination of them or something totally different).
Regards,
Blackeagle
- #5,123
- Edited 2:38am Sep 29, 2016 2:24am | Edited 2:38am
- | Joined Apr 2014 | Status: Trader | 263 Posts
I was just studying the loosing trades from last couple of days. I found one thing in common as follows : False signals are not able to cross the High of Previous Day. Suggestion : By Putting a buy stop "+10/+30" pips above previous day High, We can avoid False signalsWhat you guyz think ??? U can Back test it :nerd:
example:
{quote} I can do this but not as a Trade Explorer. I can do Forward Testing including a few statistics re. the strategy. There are two problems though, one is different brokers have different daily close times, therefore a buy/sell signal for me may not be a signal for others, and second is discretionary nature of entries/exits. As you can see from posts there are too many different interpretations and people are taking different trades on the same day. So I can start it today, based on trades taken since Monday. I'll use Oanda server time (GMT...
- #5,127
- Edited 2:58am Sep 29, 2016 2:42am | Edited 2:58am
{quote} I wonder how will this help.. price can go up/down 100 pips to trigger your buy stop/sell stop later move to opposite direction, you will still call that false signal when you on losing trade. I would say it is best to avoid sideway pattern to avoid false signal, sideway pattern usually happen at heavy support or resistance area.. example: {image}
Pending Orders are not meant to eliminate all False signals anyways Its ok if you don't find it worth. Well accepted . MODIFIED SCREEN BELOW :
P.S - Still playing by the rules of the strategy
{quote} In your example setup , You are ignoring BB Line, One of the rules of this strategy. I wud have exit on second bullish candle anyways leaving second position open
{quote} that is just a sample, im not talking that example is a proper setup. What i want to say is even if you put a buy/sell stop, you still get a chance to get your pending order triggered and the price going to reverse against you, so the buy/sell stop does not really help you to filter false signal.
- #5,132
- Sep 29, 2016 3:41am Sep 29, 2016 3:41am
- Joined Nov 2013 | Status: Trader | 1,192 Posts
Forget about trading, it's all about hunting !
This period we are going through really puts focus on the qualities we must develop within ourselves from my point of view, if we want to survive in this jungle
What defines a good hunter (native american style, not Buffalo Bill style of course): someone able to constantly chase its potential preys day after day, having to endure endless days of rain, wind, maybe even snow... and often come back home empty handed without feeling discouraged.
But the day the hoard comes he will be there ready to shoot.
Patience, endurance, observance, concentration is what will allow us to hunt pips. When the time is ripe the harvest will exceed our expectations.
This period we are going through really puts focus on the qualities we must develop within ourselves from my point of view, if we want to survive in this jungle
What defines a good hunter (native american style, not Buffalo Bill style of course): someone able to constantly chase its potential preys day after day, having to endure endless days of rain, wind, maybe even snow... and often come back home empty handed without feeling discouraged.
But the day the hoard comes he will be there ready to shoot.
Patience, endurance, observance, concentration is what will allow us to hunt pips. When the time is ripe the harvest will exceed our expectations.
I used to be indecisive but now I'm not so sure...
- #5,133
- Sep 29, 2016 4:37am Sep 29, 2016 4:37am
- Joined Jan 2016 | Status: I am not a trader | 1,238 Posts
{quote} Exactly! Explorer allows you to see entry price,time of entry, exit price, and overall result of all trades.
All conditions for entries and exits are described in your trading plan ... do you have one?
Made your own back-test for last one two year on every pair you like to trade, make the rules, make statistic. Write a plan an do follow it.... I know statistic can not describe future but can calculate chances, probabilities.... that's what we need, this will build your trust to the system.....
Without your effort no explorer will help you, rather bring you frustration....
Wish you all, hundreds of pips
- #5,137
- Sep 29, 2016 4:58am Sep 29, 2016 4:58am
- Joined Jan 2015 | Status: Trader | 1,533 Posts
First AUD/JPY hit the TP the outhers are running {image}
- #5,139
- Sep 29, 2016 5:27am Sep 29, 2016 5:27am
- Joined Nov 2009 | Status: You are what you is | 1,962 Posts | Online Now
CAD/JPY is still alive, 40 pips profit.. first podition was closed after 65 pips profit {image}
first of all thanks for sharing this great strategy with all of us.
I'm in C/J too, first position TP = SL should be around 115 pips. So why did you close it after a few hours from open ?
Best regards,
Bubincka
Porta itineris dicitur longissima esse
- #5,140
- Sep 29, 2016 5:33am Sep 29, 2016 5:33am
{quote} Hi Bk8, first of all thanks for sharing this great strategy with all of us.
I Will Never Give Up