P.P.P. - Price Patterns Portfolio

Trading Systems Free Forex Trading Systems
1

Hello!

Let me briefly introduce myself (not trying to sell anything so please continue :smiley: ). Im small novice trader from Czech republic and I would like to show you my system.

The idea behind the system is not really mine. Credit goes to Larry Williams. :slight_smile:

I can write here a 23 pages long story about my long road to forex but thats not the aim of this thread. So lets jump-in.

The method:

Currency: EUR/USD
Time-frame: 15 Min
PT: 10
SL: 20

Entries:

Long:

We are waiting for a candle that will close higher than previous candles´ high. If this happen, we place Buy stop order on that candles high. Let me show you:

longsetup.jpg700×503 64.3 KB

Short:

Wait for a candle to close lower than a previous candles´ low. Than place sell stop order on that candle low.

Hope we can discuss more price patterns and maybe improve this strategy. I believe that it can give you the edge in market, and thats what im looking for.

2

Here are the trades that i had so far:

10.10.2011

10.10.2011.jpg700×506 34.9 KB

Great day for this method, nice trending market.

Catched 30 pips.

DetailedStatement.jpg700×171 14.1 KB

3

11.11.2011

Another great day, except the news, during these, had some problems, but closed trade fast with small profit. Here are the trades:

11.10.2011.jpg700×504 35.4 KB

4 profit targets, 40 pips.

4

12.10.2011

Not a great day :slight_smile: But expected it after 7 winners in a row :smiley: Here are the trades. Will post my equity in the next post.

12.10.2011.jpg700×504 36.6 KB

2 SL, 1 Pt.

5

13.10.2011

Very hard day :frowning: . But we need to be disciplined and take trades as they goes. :wink:

13.10.2011.jpg700×503 37.3 KB

2 SL, 1 Pt.

6

Have you backtested this? Any other currencies or TF’s?

7

Here are my trades for this period, and the equity. Its not consistent result, because i realised that 4% is too much for me, so ive changed it to 2%. :slight_smile:

DetailedStatement.jpg700×171 15.2 KB

And some numbers:

Gross Profit: 1 163.23 Gross Loss: 592.57 Total Net Profit: 570.66
Profit Factor: 1.96 Expected Payoff: 35.67
Absolute Drawdown: 0.00 Maximal Drawdown: 477.60 (5.89%) Relative Drawdown: 5.89% (477.60)

Total Trades: 16 Short Positions (won %): 4 (75.00%) Long Positions (won %): 12 (75.00%)
Profit Trades (% of total): 12 (75.00%) Loss trades (% of total): 4 (25.00%)
Largest profit trade: 131.89 loss trade: -151.83
Average profit trade: 96.94 loss trade: -148.14
Maximum consecutive wins ($): 10 (1 048.26) consecutive losses ($): 2 (-296.65)
Maximal consecutive profit (count): 1 048.26 (10) consecutive loss (count): -296.65 (2)
Average consecutive wins: 4 consecutive losses: 1

I will update trades as they will come so stay tuned, and if you have questions, feel free to post a reply. :slight_smile:

8

Sure, you can´t do trading without it. But if you are asking for results, than i must say no. Dont take it personally but you cant believe to results of someone else. Do your homework, study charts and you will see.

I believe that it can work on any currency and any timeframe. But you need good exits. They are more important than entries. :wink: Thanks for your interest.

9

Some potentional set-ups on 4H timeframe. But remember, you need to develop your own style with this pattern, work on your entry timing, your SL placement, exits, do your OWN backtest, papertrade and than try live with small risk. :wink:

potent.jpg700×504 38.5 KB

10

Maybe add volume into the mix.

11

Man you are reading my mind :smiley: just thinking of that. It could filter out very inactive ranging days, when system is not so good. Thanks for the tip. Tried my method? :slight_smile:

12

:33: interesting. Just eyballed it, but it would save 2 SLs. Will do backtest on solid data sample and will let you know. :wink:

13

Ok ive got some idea. We enter on 15M timeframe with 2 lots. BUT: We place SL with first lot according to 1M timeframe on swing high or swing low, and we let second on 20 pip sl. Im doing backtest right now and it seems far way better. Got 2 months only. I will update the results after ill have more data. :slight_smile:

14

Let me show you what i mean:

slplace.jpg700×504 39.8 KB

We can save some pips here, and if it is clear entry, SL will remain.

15

hi there,

any new updates on this strategy working well anyone? would be intersting to know if it consistantly profitable…
any idea on the succes rate? thanks

16

Here’s a novel idea.
Why don’t YOU backtest it?
Or at least forward test in demo.

Show some initiative. Being successful in this business isn’t going to show up at your doorstep on a silver platter.

There will be some work involved, no matter what strategy you finally embrace. Might as well get on with it now, and at least help the guy out that introduced you to the strategy in the first place.

That would be a nice way to show some thanks.

17

you are right… and i agree with u ther… by backtesting it and being confident in the strategy would make it work in a real acount…

but at the moment i am back testing a few other strategies to see if they work… so tht is why i asked anyone if ths ws a strategy worth trying with already a proven record…evn thn i would test it again fr my own assurance…

and my apologies for nt mentioning this befor…and thanks fr comenting and leting me know and making myself clear.