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Anyone tried this strategy? looks interesting

  • #1
  • First Post: Dec 31, 2016 9:28am Dec 31, 2016 9:28am
Hello great traders i stumbled on this strategy online

http://strategiestofreedom.com/tradi...ght-96-4-time/

and find it interesting but havent tested it yet.If you know about this strategy and have tested it please reply and give us feedback.God bless y'all
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Goal of a successful trader is to make the best trades. Money is secondary
  • #2
  • Dec 31, 2016 10:23am Dec 31, 2016 10:23am
Dear ForexPinbar

I know that strategy a "super guru" I taught it as a 95% winner, to apply it at the
beginning of the daily candle ..... it is a disaster.
Gambling!
I was working alongside him for two weeks
Some days really profitable, the next few days I lost what I had gained plus the capital invested.
the "Super Guru" said forex you know how it works ... you can not win them all...


It's the first time I see applied to a year
I have a Dream....
  • #3
  • Dec 31, 2016 12:01pm Dec 31, 2016 12:01pm
Support and resistance. It works when it works, but I doubt if it's 96% accurate as the article suggests, at least in my experience. I use a filter to tell me when to open and close my positions -- rsi, atr.
  • #4
  • Edited 10:24pm Dec 31, 2016 2:01pm | Edited 10:24pm
simple idea are often the best. have a 'master line' once per year (say jan 5). then for shorter term trades 'slave' lines every quarter (jan 5, april 5, july 5, oct 5). Be interesting on what the returns would be when 'rollovers' are deducted or even better added.
  • #5
  • Jan 1, 2017 2:15am Jan 1, 2017 2:15am
Quoting kraven
simple idea are often the best. have a 'master line' once per year (say jan 5). then for shorter term trades 'slave' lines every quarter (jan 5, april 5, july 5, oct 5). Be interesting on what the returns would be when 'rollovers' are deducted or even better added.
thanks for your contribution to this thread but i dont quite understand what you mean..please explain in details if you dont mind.
Goal of a successful trader is to make the best trades. Money is secondary
  • #6
  • Jan 1, 2017 2:17am Jan 1, 2017 2:17am
Quoting jimsnz
Support and resistance. It works when it works, but I doubt if it's 96% accurate as the article suggests, at least in my experience. I use a filter to tell me when to open and close my positions -- rsi, atr.
thanks for your contribution jimsnz..so you think its a support and resistance strategy?
Goal of a successful trader is to make the best trades. Money is secondary
  • #7
  • Jan 1, 2017 2:19am Jan 1, 2017 2:19am
Quoting Yanky2016
Dear ForexPinbar I know that strategy a "super guru" I taught it as a 95% winner, to apply it at the beginning of the daily candle ..... it is a disaster. Gambling! I was working alongside him for two weeks Some days really profitable, the next few days I lost what I had gained plus the capital invested. the "Super Guru" said forex you know how it works ... you can not win them all... It's the first time I see applied to a year
yanky2016 , i havent tried this strategy myself but it looks simple and profitable..is there any way we can backtest this strategy?
Goal of a successful trader is to make the best trades. Money is secondary
  • #8
  • Jan 1, 2017 2:20am Jan 1, 2017 2:20am
Quoting kraven
simple idea are often the best. have a 'master line' once per year (say jan 5). then for shorter term trades 'slave' lines every quarter (jan 5, april 5, july 5, oct 5). Be interesting on what the returns would be when 'rollovers' are deducted or even better added.
Kraven,

Could you please expand more on what are rollovers and what you meant by the returns?

Thanks
  • #9
  • Jan 10, 2017 9:32pm Jan 10, 2017 9:32pm
sorry for the late reply....

basically most FX accounts charge rollover fees. Sometimes these work in your benefit and you make money

'Rollover is the interest paid or earned for holding a position overnight. Each currency has an interest rate associated with it, and because forex is traded in pairs, every trade involves not only two different currencies, but their two different interest rates.'

although you can get rollover free if you search

As for the 'jan 5, april 5, july 5, oct 5' i have added a crude chart to help explain. basically every 3 months (quarters) you add another line. this will ensure a 'spread' of entries throughout the year. in the example posted if we did not have an april 5th line (blue) we would have missed out the majority of the drop from april 27. obviously the price will whip back and forth over each line which will incur losses. to help avoid these losses i would apply the 'free' bet money management (look it up if you don't know)

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  • #10
  • Jan 10, 2017 10:41pm Jan 10, 2017 10:41pm
Quoting kraven
sorry for the late reply.... basically most FX accounts charge rollover fees. Sometimes these work in your benefit and you make money 'Rollover is the interest paid or earned for holding a position overnight. Each currency has an interest rate associated with it, and because forex is traded in pairs, every trade involves not only two different currencies, but their two different interest rates.' although you can get rollover free if you search As for the 'jan 5, april 5, july 5, oct 5' i have added a crude chart to help explain. basically every...
Thanks Kraven for a detailed explanation...
  • #11
  • Jan 11, 2017 3:41am Jan 11, 2017 3:41am
Quoting kraven
sorry for the late reply.... basically most FX accounts charge rollover fees. Sometimes these work in your benefit and you make money 'Rollover is the interest paid or earned for holding a position overnight. Each currency has an interest rate associated with it, and because forex is traded in pairs, every trade involves not only two different currencies, but their two different interest rates.' although you can get rollover free if you search As for the 'jan 5, april 5, july 5, oct 5' i have added a crude chart to help explain. basically every...
Kraven,

What's the significance of the master line. Does it have the same behavior as a slave line or does it act as some sort of filter.

Say, In the above example, do we take short at the april line once the price goes below april line? or do we just exit our longs at April Line,since the price is above the Master line, which would imply only Long trades?

I did search free bet money management, and i am not sure if i am i going in the right direction. Kindly specify any link that can act like a primer.

Thanks for bringing nuances to trading concepts.
  • #12
  • Jan 13, 2017 10:57am Jan 13, 2017 10:57am
just calling it the master line as it would be the first line drawn, preferably at the beginning of the year. AT the end of the year this line is the one that would show if market had finished up or down that year.

Free bet. simply put 2 bets on at the same point, both with the same size stop loss, one with a take profit the same distance as stop loss. if the TP on bet 1 is hit, bet 2 is left to run. if bet 2 comes and hits SL then no worries as bet 1's win would cover this loss....hence bet 2 is classed as a free bet. Obviously if the SL is hit on both bets before bet 1 TP is hit then you loose both bets

the problem is if you are not going with the roll over in your favour then i feel the costs would take most gains (hence a no rollover broker is needed)
  • #13
  • Jan 13, 2017 1:11pm Jan 13, 2017 1:11pm
Quoting kraven
put 2 bets on at the same point, both with the same size stop loss, one with a take profit the same distance as stop loss. if the TP on bet 1 is hit, bet 2 is left to run. if bet 2 comes and hits SL then no worries as bet 1's win would cover this loss....hence bet 2 is classed as a free bet. Obviously if the SL is hit on both bets before bet 1 TP is hit then you loose both bets
so the 2 bets are in the same direction, long or short?
  • #14
  • Jan 13, 2017 2:49pm Jan 13, 2017 2:49pm
Quoting kraven
sorry for the late reply.... basically most FX accounts charge rollover fees. Sometimes these work in your benefit and you make money 'Rollover is the interest paid or earned for holding a position overnight. Each currency has an interest rate associated with it, and because forex is traded in pairs, every trade involves not only two different currencies, but their two different interest rates.' although you can get rollover free if you search As for the 'jan 5, april 5, july 5, oct 5' i have added a crude chart to help explain. basically every...
Makes sense...Anyone knows how we can backtest this strategyveffectively and see results?Maybe a simple EA can be coded to test this strategy.
Goal of a successful trader is to make the best trades. Money is secondary
  • #15
  • Last Post: Jan 13, 2017 4:12pm Jan 13, 2017 4:12pm
Quoting yonnie
{quote} so the 2 bets are in the same direction, long or short?
Same direct. Free bet method or DIBS is old school FF. read the posts of PeterCrowns
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