Starting out trading and dont know how to make Profits? - Page 17
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  1. #161
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    Quote Originally Posted by Manxx View Post
    Just thought I'd stop by to say that I have tracked three consecutive High-5 trades so far on USOil:

    1) Short Opened 2.3 / Closed 29.3: Profit 408 pips

    2) Long Opened 29.3 / Closed 18.4 : Profit 383 pips

    3) Short Opened 18.4 / still open : Current gain 295 pips
    Hello Manxx,

    nice to see you posting here again.

    Yes oil was a great security to trade the 5-day methode the last few months (and at beginning the 40 days aswell). Did you use the 5-days methodes like you posted in the 3 trades above or did you stick to the changed 5-days which you were explaining in this thread before?

    I saw a post of yours where you explained how you missed the big recent down leg in oil. according to 5-days systems you should have entered a short position and earned quite nicely on it. did you?

    Oil traded o the high-5 system yielded a profit of 17% account growth in the last 1.5 months. i hope you gained nicely on it mate.

  2. #162
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    Quote Originally Posted by bobbillbrowne View Post

    @TurboNero, got a 3 day weekend ahead of me, hope to put gold through it's paces and report back in this time.
    Hello Bob,

    i am sorry for being so bugging about testing and i am very thankfull that you did the backtesting! I know you are bussy aswell. Unfortunately i never bothered to learn computerized backtesting since i have no issues doing it manually, but i realized in the forum that people love to see the graphs and that it gives them a more comfortable feelig to trust/believe in the system when it is backtested by computers.

    I will aswell try to find the time to figure out how to backtest supported with a computer is beeing done and then i wont be stealing your time away friend.

  3. #163
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    Bob - Really appreciate the explanation of the bot's activities - the logic makes perfect sense. Would you be able to clarify/confirm a couple of things I'm not 100% sure about:

    The Switch

    "We have defined that switch with a rule that says if the trade is in profit by "nR" and it breaks the 5 day channel then switch to the 5 day management plan by closing and reversing."

    Does this mean that when there is a break out of the 40 channel, the bot immediately starts looking for (or calculating) for a 5 day channel (to nR risk of the 40 day channel) above the break (long) or below the break (low)?

    The Stop Loss


    "Because this is managed internally by the bot no stop loss or take profit is issued on the order ticket."

    I must confess, I find this a bit scary. I guess this a matter of having trust in the bot (and the broker and the market) - but I do like to keep a close eye on stop losses, especially if the market is potentially volatile enough for stop losses to be skipped? Is there any way the stop loss and pending orders can be displayed, maybe even by using another another indicator or a trade manager alongside of your bot?

    Also, if the stop losses are managed internally by the bot, have they been applied on the broker's server? I'm wondering whether disconnection failure would be an issue?

    GBPUSD - I didn't choose this pair specifically for any reason. I have 7 currency pair set-ups running manually and put the bot on all of them to see what would happen (demo account!). I'd already had a profitable trade on GBPUSD because of the unexpected UK election announcement, before installing the bot. It was just a coincidence that I'd installed the bot at this time, on this pair.

    When I'm not sure if a market is 'hot', 'semi-hot' or looking like it might be about to start (or even stop) trending, I'll start a 40 day entry, because for me, it takes the guess work and subjective 'reasoning' out of what constitutes a trend and when to enter. I'd actually been doing this for some weeks beforehand and was encouraged by Turbo's suggestion that you program the bot to open with a 40 day entry.

    I'm still mindful that the method was designed to be used in a trending market.

    Many thanks again for sharing your bot and for your time in responding to my queries.
    Last edited by jazzman; 04-22-2017 at 02:50 PM.

  4. #164
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    Turbo - that's great. Yes you did understand the query perfectly and your answer is perfectly clear. Many thanks!

  5. #165
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    Manxx is offline Superior Master Contributor and Member
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    Quote Originally Posted by TURBONero View Post
    Did you use the 5-days methodes like you posted in the 3 trades above or did you stick to the changed 5-days which you were explaining in this thread before?

    I saw a post of yours where you explained how you missed the big recent down leg in oil. according to 5-days systems you should have entered a short position and earned quite nicely on it. did you?

    Oil traded o the high-5 system yielded a profit of 17% account growth in the last 1.5 months. i hope you gained nicely on it mate.
    I am trading what one could call the "High-5 Lite" version!

    There are three reasons why I cannot jump straight into the normal High-5:

    1) Crude Oil is a brand new "security" for me and I am not yet sufficiently familiar with its movements to "blindly" trust leaving such long stoplosses during the intial few days. Although it has been relatively clear in direction and "well-behaved" so far this year - compared with some of the wild gyrations during last year that I've seen whilst back-testing!

    2) I am gradually migrating from day-trading to longer-term positioning and I am not yet willing to leave positions open over weekends and holidays - especially with an unfamiliar commodity!

    3) The strength of the High-5 method is that it has positions in, on average, 5 different securities. So any smaller losses in one is compensated by bigger wins in the others. But I am a one-product guy. I need to be totally immersed with a deep passion in my commodity and I cannot do that with multiple products. Therefore I need to avoid the possibility of a series of losses on Crude Oil without the compensation of wins from elsewhere.

    So my "lite" version is that I take my direction from the low/high of the past 5 days but I take my actual entries and exits from my 4-hour chart. I began with using the 15m chart that I was most familiar with (which I also used here earlier in my eurusd comparisons), and then migrated to the 1 hour chart and now I am brave enough to work from the 4-hour - but always in the direction of the current High-5 signal.

    As I mentioned on the Crude Oil thread, my aim is to "earn as I learn" and avoid any big risks at the start of this venture!

    During the first down move I did well but with too many small trades with wide spreads eating up a lot of potential gains. I also did well on the subsequent upmove with fewer trades. But I was so sure of the upside potential of oil that I refused to believe the latest down signal on both the High-5 and on my own charts as well. As a result I totally missed the first leg down, but caught the second one ok. The plus side was that I did actually close my long positions only three pips from the high of that entire move (feels a bit like a hole-in-one in golf!) and the charts kept me out of going long again - one really has to have faith in one's charts in this industry!

    I would have done better on all three trades if I had just opened the one High-5 trade per move and just left them alone! But I am a naturally cautious trader and I consider that was a good trade-off at this stage for the reduced weekend risks and closer stops, and I am loving every minute of it - and in profit!

    It is because I am not a "purist" High-fiver that I am not posting my stuff here as its a bit of a hybrid. But I am using it and I thank you once again for introducing it here.

  6. #166
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    Great thread Turbo thanks for your effort

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