Hi,
dazzler:
Thanks for the input - why do you say it's not going too well at the moment? Can I help?
From what I can see the only reason that my profits are so big is because of the sum of all the current profits and losses of the (now) 31 open positions / pairs. If I examine the positions individually - yes - quite a few of them were over the $200 profit mark when I last checked - and some more were over the $100 mark when I last checked - but many of them are far under that - and - like I said - most of the high profit positions are on the JPY - so - the high profit figure is not a testament to the 'magic' of this indicator i.e. because of the carry trade story - it's deceiving.
Having said that - maybe that's the key i.e. open as many positions as you possibly can i.e. one position for each pair that your broker offers. In other words - you're not making the MAXIMUM PIP's - but you're making up for this in volume. I mean - I made a hell of a lot on AUD/USD the other day on my other platform - but that again was just a 'one off' i.e. nothing drops that far that fast (usually) and stays there and had it reversed on me I would have (at best case) broken even because I only had enough capital at the time to have one or two positions open (at that broker it's $1000 for one full lot).
Edit:
I just checked now - and the positions are showing a nett profit of $2842.37 which is much lower than it was this morning. Now this is something I have noticed since starting this last week - after the NYSE opens and the USA is awake - the profit seems to go down - and when I wake up in the morning - at what is the equivalent of 00h00 NY time - this profit has soared again. What I have noticed is that as I open an additional position or two every day (if there is a valid PSAR signal) - and - as the days go by - this 'bottom' seems to be getting higher and higher on a daily basis. In other words - when I first started this last week - I have watched the profit dwindle to as low as $500 or so but with every day that passes - it does not go that far down. In other words it would appear that the lows are getting higher every day if you know what I mean.
turnip15:
Quote:
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Is this the system JAMES posted some time ago ?
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I don't know - you tell me! Only kidding.
No - this is not the same 'system' - actually this is not a system at all - it's just an experiment to see . . . (actually - I think I detailed this already - many many times in the thread)!
No - this is not the same 'system' as James posted before - James' 'system' uses the same indicator i.e. Parabolic SAR WITH MACD to confirm entry and on the 30 minute charts only. James' 'system' does not rely purely on the indicator itself and does not use the indicator as it was originally designed i.e. James' system does not 'stop and reverse' and does not use the current Parabolic SAR value to set the 'stop and reverse' or, in his case, 'stop loss'.
If anybody has anything NEW to add to this thread - post away - but I'm not going to keep explaining this indicator every second message. Sorry - no offense - but this thread is getting REALLY long - and I just seem to be repeating myself all the time.
Anyway - for those who are following this 'experiment' - how are you doing - live or demo - no matter?
Regards,
Dale.