@ExejeSen Is EUR/GBP volatile enough ?
Not enough daily range.
Selling GJ, EJ, AJ inside bar’s sell triggered.
Double that!!! My sell stops triggered on EU and Buy stop triggered on UCHF too.
Last day of the week…Pray today goes well.
Good luck.
Oh yeah, you both are right. Didnt check that when i selected the pairs. I just looked out for low spreads. I will delete eur/gbp from my strategy.
Your are only looking for pairs with volatility on Binäre Optionen lernen – Binary School higher than 1.00%?
2nd sell pin on ej anyone?
Yep got it as well ^^
Yes EJ sell and put sell stop on inside bar on AU.
While I’m letting the last trade that’s still open, the AU sell, go to either SL or TP, I’m otherwise done trading for the week, as I see what the market is doing. the EU stayed flat through some relatively bad Germany news all the way until this morning’s announcement about the ECB loosening it’s collateral limits for banks, especially for Spain’s banks…this caused a bullish move on EU as well as the currencies this strategy trades, again, exactly against the last few signals. Next week is full of these kind of news events like the Euro summit, Italy’s bailout terms, Spain’s standings, etc…Italy’s prime minister is giving the Euro one week to survive. This is not small news, guys. I’ll be forced to sit out next week just because of my account balance, but the real countdown to the end of the Euro is about to start. The markets are extremely uncertain, thus the lack of any real trading beyond the news…traders are only trading news. I think if market certainty is restored in a few weeks, this strategy will crank out the pips, but if the Euro continues to just hang with uncertainty, it could be after the US elections before the market breaks out of unpredictable ranging-there is no good sentiment when it’s like this…I may investigate some short term scalping strategies, but even these can be limited if the markets stay flat until some kind of news makes it move.
@pipcompounder I never have really got into the fundamentals and news, it’s actually not that long since I started demoing, i decided to learn as much as I could first until I felt I was ready to start demoing, so my question is, is it often there are big news events? I know there must be a lot more lately with everything that’s happening in Europe, but in general are impacting news events an often occurrence as it seems that news and fundamentalists screw a purely technical method such as this!
Yeah, I decided to sit back a few days ago until the market gets back some of it’s normal movement. I’ll still be keeping track of this system, though, and plan to get back trading it as soon as we get some good momentum back.
What is happening now with the Euro and all is very unprecedented, which is why the news has far greater inpact…the reason for this is the much greater level of uncertainty, which causes non-news traders to camp out until the uncertainty passes…what this means is nobody is trading until the next news comes out, and then only for unpredictable moves…what this all means to us is, in the past when the “crisis” was subliminal (it’s been going on for years), this strategy worked good, even during news, because the market sentiment was accuratly depicted in the signals, and the sentiment stayed solid long enough for us to bag pips usually up to full TP, but now that uncertainty is so high, the sentiment is very unknown, if you read reports of trader’s expectations at various sites, like dailyfx, you’ll see they were continually suprised by the market’s response and often commented on how unusualy these last few weeks have been.
Right, thanks for that, do you think it will be a while then before we get back to some market normality and signals act in accordance with sentiment? Is it a possibility the euro will crumble? If so what impact will this have on the other pairs and trading in general? As I believe eur/usd is the most traded pair, (it makes up around 25% of total trading volume I believe) thanks for your insight pipcompounder!
Unless a real change of the actual politic and mentality, there is a very high probability that the euro collapse. Which should have an impact on all major pairs. Actually i read a lot of economist who consider euro already dead. It’s just a matter of time. Few months, a couple of year seems to be the real question…
What do you think guys ?
Sorry to take this thread completely off topic, maybe this is a discussion for somewhere else?
Personally, if the Euro really goes down, then all the banks holding the default credit swaps here in USA, as well as others will instantly go belly up…that’s exactly what happened to MFGlobal, they were holding highly leveraged Greece debt, and basically hit their margin. This would be a domino effect that would be very very very very bad bad bad…think: time to build spaceship and go live on another planet.
As traders though how would we be affected as we can profit on the back of a falling market?
Visit ALL the planets!
just trade with gold, silver, commodities… heheheh.
but I don’t think that EUR will be finished in the near time. I think is more plausible to have finished some countries, or better, some banks hahaha.
Guys, 2 things…
@everyone … as JuicyPips said, please take the conversation about ecenomics somewhere else, this will polute this thread. Sorry to say that, dont wanna be a Policeman, but that’s not why SithJawa started this thread.
The other thing… as I mentioned before, please do not let fundamentals or other stuff get into your head when it comes to trading this system. This system is fully mechanical and should only be treated as that!
As soon as you let fundamentals, chart patterns, resiatnces, moving averages or other stuff let you decide whether to get in or out, well than you can throw away this system and you will never make profit from it.
We dont care about what the euro does, or whatso ever. If the signal say sell…we sell… if the signal says to buy…we buy. That’s it.
As I started forward testing this system on GBP/JPY a couple of weeks ago i am still very pleased about the outcome so far. You see, you guys focus to much on the short term of the % of dollar you want to make, and you refer everything to this week where you made 1500 pips or more…
Ok, here are my results on [U]only [/U]GBP/JPY so far.
ps. I open 2 positions of each 0.01 lot, and my spread is the huge amount of 7 pips!!
If a signals goes ok, and takes TP1, I make 40 pips, if TP2 goes ok, we make another 70 pips and a total of 110 pips. If a signal goes bad we loose -80 pips. (2 x -40)
I started with $500,- 1 pip GBP/JPY is 12 dollarcents.
I trade the system in its original way 40/70 targets, no ATR and no multiple signals, every signal I go for it, if reverse I go reverse.
1st week, 28 may - 1 june the system made 1010,2 pips. I had to pay 196 pips of spread in 14 trades. This left me with a profit of 814,2 x 0,12ct = $97,70 dollar.
Startbalance was $500,-, endbalance is $597,70 dollar. So I made 19,54 %.
2nd week, 4 juni - 8 june the system made 443 pips. I had to pay 168 pips of spread in 12 trades. This left me with a profit of 275 x 0,12ct = $33,- dollar.
Startbalance was $597,70,-, endbalance is $630,70 dollar. So I made 5,52 %.
3rd week, 11 juni - 15 june the system made 336 pips. I had to pay 210 pips of spread in 15 trades. This left me with a profit of 126 x 0,12ct = $15,12,- dollar.
Startbalance was $630,70,-, endbalance is $645,82 dollar. So I made 2,40 %.
4t week, 18 juni - 22 june the system made 107,1 pips. I had to pay 252 pips of spread in 18 trades. This left me with a loss of 144,9 x 0,12ct = $17,38,- dollar.
Startbalance was $645,82,-, endbalance is $628,44 dollar. So I lost 2,69 %.
So after 4 weeks I am still on a huge profit according to my startbalance. I accomplished this, just by following the rules exactly as they are written down. There was no room for discussion. The system told me what to do. Totally 100% mechanical!!! And I mean 100%, trust me !!
So this was for only 1 chart. Just the GBP/JPY. And over 4 week the sytem made me 25% !!!
Well, I dont know about you guys, but 25% a month is a really good result.
The last week was a pain in the butt and the huge spread I have, has eaten my profit away. On a 3 pips spread this week would have been around breakeven.
So please stop looking for excuses why the system ran bad this week… focus on the longer term and keep it completely mechanical…
greets,
Jonkie76
Thanks Jonkie for the feedback ! This is really educative ! By the way i still have some troubles to decide what to do when i get multiple signals. Though i got it with the multiple pin bars but what happen when i have a pin bar and then maybe 8h later an inside bar or a star ? etc
Also i’m still not sure to understand if when you spot a star or a pin bar or an inside bar, do you trade it right away after the last candle close or do you place an order ?
And i know this is a stupid question but in general how long does it take to the trade to go to the tp (if it goes) ?
Sorry if the questions seems stupid but English is not my first language and sometimes i have some troubles to understand . 