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| 100% Profits With Fantastic Four (00, 20, 50, 80) https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=750 |
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| Author: | garyfritz [ Tue Aug 07, 2012 3:46 pm ] |
| Post subject: | Re: 100% Profits With Fantastic Four (00, 20, 50, 80) |
So if I understand you right, if the current price is X, you place a sell limit at X + Y, TP at X + Y - 10 pips, and you repeat that at 4 buy and 4 sell levels on either side of the price? If so, that might work nicely a lot of the time. But what happens if the market moves sharply in one direction AND NEVER COMES BACK ?? Imagine you had been trading this strategy on EURCHF on 9 September 2011. At 07:30 GMT the price was at about 1.1190, so you would have had sell signals at 1.1200, 1.1220, 1.1250, and 1.1280. Then Switzerland announced they were pegging the Franc to the Euro. EURCHF shot up to about 1.2000 without ANY retracements, and it has NEVER come down since. Within seconds you were down 3000 pips, and you would STILL be down 3000 pips today. Now granted that is a very unusual situation. But IT HAPPENED. It could have happened to you if you were trading this strategy then. More likely you could have smaller disasters happen that could still kill you. E.g. USDJPY jumped 200 pips without any retracement on 30 Oct 2011 and has not yet returned to that level. Trading a system like this is like picking up pennies off the train tracks. You make lots of little profits until WHAM!! The train flattens you. That is a BAD risk/reward scenario. |
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| Author: | Snoopy1234 [ Tue Aug 07, 2012 4:21 pm ] |
| Post subject: | Re: 100% Profits With Fantastic Four (00, 20, 50, 80) |
Yes you are absolutely right. But you say...this is a BAD risk/reward scenario. I trade manually only the major pairs. The eurchf is dead most of the time. With this strategy you cant trade it yet. Of course can it be that many influences we cannot affect there can be a problem with trading. I have backtested this strategy by eye 3 years in the major pairs, like eursud and gbpusd and it works very good. What anybody can do is to make a stop loss at 200 pips per trade. But it trade not some x position i trade the magic 4 number were mostly are in the overbought and oversold sections are the retracements. Look at the magenta line. This is the overbought and oversold condition +75 pips and you place there on the magic number 4 trades with a total distance of further 100 pips. So believe me...you make money with this strategy. Its not my goal to make the account bigger and bigger., my goal is to withdraw money every week or month. So might it happen, that the account will blow in a few month or years, it will not interest me. The point is, can anybody make this strategy in an ea? |
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| Author: | garyfritz [ Tue Aug 07, 2012 4:43 pm ] |
| Post subject: | Re: 100% Profits With Fantastic Four (00, 20, 50, 80) |
Yes, and you make money picking pennies off the train tracks too. Until the train comes. Trading majors is no guarantee. Any pair can do this, just like USDJPY did. If you keep the account small and don't care if it blows out, then you're probably OK. Assuming your crim instantly closes the trades when your account goes to zero, that's effectively a worst-case stoploss. (But in cases like the EURCHF spike, it's VERY unlikely the crim or a stop could have exited your position at your desired price. Your account probably would have gone negative by some amount, possibly a lot.) How much do you expect to make with this strategy per month? What % gain, assuming the train doesn't come? There should be no problem turning this into an EA, but I'm not the EA guy. You'll have to see if Steve or someone else gets interested in it. I might backtest it on Tradestation to see how it works. |
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| Author: | Snoopy1234 [ Tue Aug 07, 2012 5:28 pm ] |
| Post subject: | Re: 100% Profits With Fantastic Four (00, 20, 50, 80) |
On manually i did for two weeks 50% so it might be a question what the market does. You do not have every day trades. Sometimes only onetime in a week but then it goes up. Its no problem to make 100% or more a month. I tested with a small account and 0,1 lot. There was a max DD of 16% and closing times of the trades of max. 24 hours. What do you not see is that the trades will be opened in the morning and closes in the evening. So max. 1 or 2 trades are open. And if any Federal Bank will do to manipulate the currency so, there you ever have a problem, also with manually trading. You can set a SL if you feel better. No one must use this strategy if he not want. Every trader has his own strategy. I am trading since 2007 and this strategy works. So for me it will be nice not only to have here an EA. It will be nice when all of the scripts i have uploaded are running in 5 digit. Placing the trades wit @Fanastic works only on 4 digit. So there i would be happy that anbody can decompile it and i can manipulate the file that it works or anybody other can do that. |
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| Author: | mobthehop [ Wed Aug 08, 2012 2:32 am ] |
| Post subject: | Re: 100% Profits With Fantastic Four (00, 20, 50, 80) |
Snoopy, with the help of Google.... There seem to be an order EA available here http://indo.mt5.com/showthread.php?1147 ... ost1748566 Will study this more but for time being suggest you read more about TMA Slope true and incorporate this as directional help in your manual efforts.... Mop |
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| Author: | Snoopy1234 [ Wed Aug 08, 2012 7:16 am ] |
| Post subject: | Re: 100% Profits With Fantastic Four (00, 20, 50, 80) |
Hey thank you very much. Thats great. It works fine with 4 and 5 digit. |
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| Author: | niepce [ Mon Oct 08, 2012 2:18 pm ] |
| Post subject: | Re: 100% Profits With Fantastic Four (00, 20, 50, 80) |
Strategy sure looks interesting (by its simplicity - i love simple systems). However one can not live with a 200p SL with a 10p TP. RR of 1:20 is just too much. However with a SL of 30pips, this needs to be considered. 30 pips being the max distance between two of the fantastic fours, that sounds a natural SL to me. Need to forward test with this value. OP, tell me what you think, since you eyeballed backtest a lot on this, would this be profitable ? If there really is, say a 95% winrate, without too much consecutive loss, a martingale would even be considered here. |
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| Author: | Wiggy1965 [ Thu Sep 26, 2013 11:40 am ] |
| Post subject: | Re: 100% Profits With Fantastic Four (00, 20, 50, 80) |
Is anybody trading this...? |
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