Probably the best recommendation would be to ask the pair themselves :eek:
Assuming you are able to scroll back through the chart, look at prior entry setups and see what’s happened.
It also depends on what YOU are comfortable seeing as a loss before it possibly resumes back in your favor, or how much profit can YOU see before you get worried you’ll lose it and exit early.
Basically what all these systems do is give you an entry signal…it’s success depends on what YOU do after, and doing your homework and knowing “yourself” is only something YOU can answer. It’s different for everyone.
Thanks Sweet Pip for your response.
I saw in your previous posts you tested this using EA. I’m trying to learn EA coding so i hope it’s ok if you could post your EA code here.
I am reluctant to share it as I am also learning EA coding and am not sure if it really coded correctly. However, in the name of learning, I have decided to share [U]but I just want everyone to understand that it is NOT the OzFx system exactly[/U], [I]but rather a “mock” version of it[/I].
What IS different, for one, is the money management aspect. I had coded in the 5 - 50 t/p increments but changed it to explore other strategies. So this “one and only version” of it ended up without stop losses and take profits. What it does instead is close a position once an opposite entry is detected, whether or not that position is profitable or not. Second, I added the ADX indicator and a 2nd Stoch period to, in effect, filter out small retracements that triggered an opposite entry signal so instead it could continue in an otherwise profitable trend.
But like I said, I’m not sure if it’s coded correctly with respect to cohabitating with other trades made manually or anything else that could possibly go wrong…oh ya, it is set to open a trade with a volume of 0.1 Lot per $1k of balance…so if you have a $10K balance, it’s supposed to open 10 mini lots.
Otherwise, due to the timeframe it’s on, I just kinda realized it’s kinda hard to miss a trade so I stopped using it and am on to other system developements, but it did give me an insight on better seeing things as they are and not how I wanted to see them.
So if anyone wants to “play” with it, feel free, but I hope everyone realize’s it’s of the homemade variety and any real trading of it it is very risky and not recommended.
Hi sweet
and thankyou for your encouraging posts. Just discoverd this forum today, and am keen to give it a go - thanks OzFx - I have subscibed to his blog.
I have a question for Sweet…
the poorest performing pairs…were they negative results? ie did they still return still profit (less than the better performing pairs)?
thanks for the discussion, will see how it all goes. I currently trade on FXCM, with a little CCI system of my own that has turned for the worst about 3 weeks ago, so I am investigating new ones. This looks great
First I must make a correction about the EA not having a take profit or a stop loss…it does, but, they are initially set to zero so I could use the strategy tester to optimize what the best levels for profit and trailing stop would be. For a stop loss, it uses a reverse signal, and to protect profits, it uses a trailing stop.
So to answer your question, yes there are profitable trades in all pairs but, again “but” (beyond the underlying truth), it depends on a setting that is best for that pair. Again too close a trailing stop could prematurely close an otherwise much more profitable trade, and too wide could lose it and you’d close at much less or even a loss. The worst pair ended with an overall loss.
So one would need to either code the EA to include a function to assign the values to those variables based on the pair, or copy the EA for each pair and hard code the values in each EA.
Either way, it’s a lot of back-testing with the optimizer to find those magic numbers, and it can take awhile especially if you use the “step” feature of the strategy tester. I have to admit that I didn’t go so far as to run each pair through this process and my findings were on a one level fits all test…I know better now. So the worst pair did so because they were based on the levels of the best pair.
Having said that, I’ve just been reading up on how getting an EA to “fit” past data profitably still doesn’t mean it will cooperate on future data, so I guess if it starts to turn sour, it’s time to change the levels…oh fun
Can someone please post the entry rules or a link to the entry rules for the 4 hour time frame. Do you still use the 200sma or does that change for a 4 hour chart?
[B]The 200 MA is not used on the 4h strategy but it doesn’t hurt to use it but it might keep you out of many good/bad trades, I left it on the template but you can take it off if you want.
I’ve attached the template and .PDF explaining the OzFx SqueezeMore rules, you can also read more about [/B][B]the SqueezeMore strategy[/B][B] at the FF forum…;)[/B]
Thanks AAD. Just looking at some of the sample trades, most were entered when the AO hadn’t changed colour yet, so I guess that’s okay to do that as long as you are taking only trades going with the trend… and if the AO happens to confirm also, it just makes the signal stronger.
Maybe this has already been discussed, but I have a big problem with this system, and that is the fact that the AC indicator changes throughout the day. For example, you may go long the EUR/USD on a AC crossover, and a few hours later it will show that it didn’t cross over! How can you trade a system that way? The only way to to it would be to lag behind a day, right?
This is what I’m finding with ANY indicator in ANY system…even if you wait one more day (bar). On one hand if you wait, then you may get less pips, but on the other if it’s a false signal, then you lose pips.
So when following any system’s rules, the idea is to stick with the rules regardless as the laws of probabilities should work in your favor in the long run…“lose a few, win many”.
Few days back I mentioned reconsidering 200SMA filter rule and now I am convinced that we can relax this rule a bit specially in times when most pairs are trending against the established trend. So here is what I recommend:
Wait for AC to cross �0″ line.
Go down to 4hr and 1hr to see if you still see AC and Stot in the same direction.
Risk less percent of equity for trades against the trend.
I just want to thank you for the system. I will test it out for the next few weeks to see how it works. Much appreciate your kindness and the kindness of the people in the forums.
I don't see any good trades. Also due to "May Day" holiday I would recommend not to trade today. Later I'll send an email with updated open and closed positions.
