Yeah. Thanks for the results.
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| Author: | jeremysprite [ Fri Nov 09, 2012 8:41 pm ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
Thanks Bob & Co. for the excellent system Just thought I'd add my own results for people to compare I'm on GMT +0 timeframe and I've been setting Buy/Sells as soon as the new daily candle opens (not on a touch/cross) I did this because EU/US opens are too late for me. SL was set to DP + 5, trailed by 20 pips after 20 pips profit, and TP was set at the next S/R level or 2nd level for some of the more volatile pairs like EURNZD (Based on the volatility data posted earlier) I also didn't take a trade if the open/pivot direction had switched from the day earlier (except for a few trades on Thursday...) I'm not sure if this helped my results at all. Was up about 300 pips on the week until yesterday. Took trades on 25 pairs, only had 3 winners. Wiped out all the profit from the week. Many trades then reversed from there and went in the direction of my trades. Will continue on next week! |
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| Author: | hilavoku [ Fri Nov 09, 2012 9:08 pm ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
Yeah. Thanks for the results. |
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| Author: | nanningbob [ Fri Nov 09, 2012 11:36 pm ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
I love Cowboy IBFX trade analyzer information in 10 seconds. Total trades 127 65 winners 61 losers 1 zero trade 145 pips total I have some raw data now so this weekend I can refine the system. When I first started trading I had a hard time producing more winners than losers on lower TF trading so for me this is encouraging news. |
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| Author: | Faramirsen [ Sat Nov 10, 2012 7:12 am ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
Hey Bob . thought you might need some more data so I exported my data from my NB 10.3 trades last week - maybe it will help you - Total 93 PIPS Winner 8,00 Looser 7,00 BE 5,00 Just following basic 10.3 rules |
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| Author: | nanningbob [ Sat Nov 10, 2012 7:57 am ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
I know the SL are tight and you do miss some runners but every single day the average pips profit was bigger then the average pips lost. Now if that holds consistent then you can up your lot sizes to make up the difference. We place SL and TP on their server -20 and +100. This protects you account in case you lose internet connection or your computer freezes. I use small lots because I often trade without SL so even if price jumps over 1000 pips against me I still can easily trade my self out of the jam. With this though you wouldnt want to do that. Another thing I have learned are my best trades have come off of the opens. Euro and USA have been the best. JPY seldom jumps because they havent changed economic policy over the last 20 years. Basically no interest rate and bank intervention when necessary. So I dont put much emphasis on it. Mainly get 20-40 pips when I do trade it. Aud and NZD can offer occasional moves but they are not common. Had one this week which was nice and the AUD change in interest rates a couple of weeks ago was nice but other than that pretty slow. If I hit a SL it is usually because I set the trade too early before euro, or usa open when the market just relaxes and bounces around. So at this point set your trades just before the euro or usa open to get the majority of you best trades. Just some unscientific observations at this point. |
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| Author: | nanningbob [ Sat Nov 10, 2012 8:03 am ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
Actually if you run the trade analyzer found in scripts of Empty4 knowing the percentages of winners to losers. Aver. win and aver loss. That information would be helpful. The key now if finding how to increase average win over average loss. If we can improve that figure then we can have very consistant forex careers. |
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| Author: | nanningbob [ Sat Nov 10, 2012 8:08 am ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
My next thought to try this week is using Steve's MPTM to do two things. Set SL and TP and also have it take half profit at +20. Then also use the TM Jump to move SL twice to +2 from -18 SL and let it run. With this formula I can let winners run but still get the minimum profit on a trade just in case it doesnt. I would also double my normal trading lot size this week so the runner is my normal lot size. I am thinking about that now. . |
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| Author: | POH [ Sat Nov 10, 2012 8:14 am ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
I'm usually only awake for Asia and Euro open and this week I definitely made a good few pips on the asia open, usually very quick short trades maybe 2 hours max and it definitely does not move as quickly and as much as euro, but there have been spikes of 20 pips across most currencies. This holds true when you only enter if/when price crosses the red line otherwise it's usually a failure, I just mention this because a few people have been entering strictly on the cross of the do and dp at the start of the day and some making very good profit that way. |
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| Author: | POH [ Sat Nov 10, 2012 8:19 am ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
Sounds like a very good idea to me, I notice on average my trades have been running 20-25 pips in profit before slowing down.. some like eurnzd and gbpnzd have gone triple that. I would be willing to trail that over the next week as well, I think it will maximize the average profit while keeping the losses the same size.. then it's all about entry time/strategy. |
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| Author: | Faramirsen [ Sat Nov 10, 2012 8:25 am ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
Here We go: Average Win: 17.47 pips Average Loss: -8.23 pips Best Trade (Pips): (Nov 08) 30.0 Worst Trade (Pips): (Nov 09) -20.0 Longs Won: (3/7) 42% Shorts Won: (7/13) 53% Total : 50/50 The 50/50 derives from the fact that sometimes when stopped out on BE the trade was negative (few cents) due to commission. |
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