I have a demo acct. This week i just used psar and in one day i hit over 600 pips in mini lots. I ended at about 450 pips for the week because i closed out everything today friday. I had started on monday to just see what happened by opening up some lots. I used about 7k margin to open some pairs in Oanda. It went good for the week. I will try again next week.
Hello all,
Good to see the thread still alive and to see some of the old school posters from when the thread began back onboard. Dale, good to see you back.
I’ve just returned from a job in deepest China so connection to the internet was not fast enough to access my brokers page, so no trades taken for a while. However, ones that were on before I left have added a bit of profit.
Current profit since system start is at now at 24%.
[U]Open Positions[/U]
EUR/AUD Short
AUD/JPY Long
EUR/CHF Long
GBP/JPY Long
USD/JPY Long
[U]Closed Positions[/U]
GBP/USD. Closed manually for a loss after Fed rate cut. -50 pips
USD/CAD Short. Stop Loss on reduced time frame for +350 pips
XAG/USD Long. Stop Loss on reduced time frame for +5000 pips
AUD/JPY Long. Stop Loss on reduced time frame for +180 pips
AUD/NZD Short. Stop Loss on reduced time frame for +100 pips
NZD/USD Long. Stop Loss on reduced time frame for +190 pips
XAG/USD Long. Stop Loss on daily PSAR. -5000 pips
NZD/USD Long. Stop Loss on reduced time frame for +50 pips
GBP/USD Long. Stop Loss on reduced time frame for +100
AUD/JPY Long Stop Loss on reduced timeframe for +650
EUR/AUD Short stop loss on reduced timeframe for +600 pips
EUR/JPY Long Stop loss on reduced timeframe for +700 pips
EUR/CHF Long Stopl loss on reduced timeframe for +150 pips
EUR/GBP Short Stop Loss for +50 pips
GBP/CHF Long Stop loss on reduced timeframe for +50 pips
EUR/USD Short Stop loss on PSAR for -100 pips
GBP/CHF Long. Stop Loss for -75 pips
AUD/USD Short. Stop Loss for -120 pips
EUR/AUD Long. Stop Loss for -270 pips
AUD/JPY Short. Stop Loss for -70 pips
NZD/USD Short. Stop Loss for -160 pips
EUR/CHF Short. Stop Loss for -40 pips
CAD/JPY Short. Stop Loss for -20 pips
EUR/SEK Long. Stop loss on reduced timefarme for +950 pips
USD/CNY Short. Stop Loss on reduced timeframe for +350 pips
CAD/JPY Long. Stop Loss for +90 pips
AUD/JPY Long. Stop Loss for -190 pips
EUR/AUD short. Stop Loss for -210 pips
EUR/USD Long. Stop loss on reduced time frame for +220 pips
NZD/USD Long Stop loss for +55 pips
AUD/USD Long. Stop loss for +60 pips
EUR/JPY Long. Stop loss for -220 pips
GBP/JPY Long. Stop Loss for -360 Pips
CHF/JPY Long. stop loss for -125 pips
USD/CHF Short. Stop loss for +260 pips
EUR/CHF Short. Stop loss for +200 pips
USD/NOK Short. Stop loss for -1000 pips
EUR/GBP Long. Stop loss for +100 pips
EUR/AUD Long. Stop loss for +450 pips
GBP/CHF Short. Stop loss for +900 pips
EUR/USD Long. Stop Loss for -220 pips
XAU/USD Long Stop loss for -4300 pips
USD/MXN Short. Stop Loss for +1000 pips
EUR/PLN Short. Stop Loss for +275 pips
EUR/GBP Short.Stop Loss for -25 pips
USD/CHF Long. Stop Loss for +200 pips
GBP/USD Long. Stop Loss for -300 pips
GBP/CHF Long. Stop Loss for +25 pips
Regards
Hey My old china
how r u dude what is up? so u r getting out of this hole ha?
NICE TO SEE U ON BOARD BACK DALE.
I can see that i missed so much from the thread i am really trying to do my best to finish my stuff so fast but hey having a 2 child with the almost he same age is a pain.
i got a new home and new car but not the X5:( wish to have it from Trading!!!) I think Dale is tying to tell me something right now!!!
i am not trading right now as i still have some stuff to finish but to be honest i am so sick that i can’t able to trade like u guys.
Regards,
Akram
Edit.
Dale i tried to contact u via email but i think it is not working anymore.
Hello Ozzy
Well again the psar if u wanna follow it blindly u will make money out of it but the million dollar question is do u really want to have this syetem and run it with free margin of 90% from the capital to make sure u will have a win win situation? if u r ok with that then i can tell u this method is going to work for 70%.
Have it this way if u want to be a trader and u have 10k to invest then u should trade with 1k and leave the 9k sitting to cover your self and to take the loss as much as u can then u will gain by the end of the day!!
Regards,
Akram
Hello boca,
So what u r using is the psar only is that right?
Regards,
Akram
Hey Akram,
Good to see you back the thread as well.
At the begining, I was just using PSAR alone. Then I added MACD and now I have added ADX (14) as well. Add that all together and proper risk management, and that’s all I have been doing.
Best Regards
Boca
That is good.24% since strating is not bad
GOOD LUCK MY FIREND
Akram
That’s right pip huntter. I think any system can go on a run you just have to try to survive the rocky waters. Because any system is going to go through some losses. You can make just as an example 10k in a month but if you get careless and lose half or more the next month…then you are back were you started.
i have tried using psar only and sometime the dot seems to come a day late and close a day late.
I’m using it on daily charts.
Psar seems like a good system but just can’t seem to figure it all out.
Just have to keep trying, learning, practicing and …
now im trying it with other indicators to see what works best.
I’m looking for something simple and can check once a day.
oh damn! last week was so bad. before last week I had about $450 in my broker but because of last week I now have $267 and I still have positions open where I am pretty much loss.
I now why this happened - because I got greedy and I traded with 50% of my capital, so just got myself to blame
hope next week is better
Dale,
Yes, this is my first post, but I’ve read this whole thread, and I feel that we may have the same sort of personality when it comes to trading (can’t walk away from it, watching your screens all day and night, wanting to make money now), so the way I’ve altered the “Pure SAR” system is by adding trailing stops. What I started doing, so I could sleep, was using trailing stops with the SAR on the daily charts. I can’t remember if you had ever mentioned trying to use them so I thought I’d mention it, they are a great tool. What I have been doing is setting the stop to trail about one average day’s bar worth of pips behind the current price after it has crossed into profit territory, and force myself not to change it. I’ve had a few that were stopped out and then the trend continued on its way, but at that point I was already in profit and OUT. Walking away with money is better than none. When one of these trades gets closed out and continues to trend the way you wanted it to, don’t succumb to the temptation to get back in, wait for the reversal signal, then get in. I have been doing this for a few weeks now and it has worked out well thus far.
This was by no means an attempt to criticize or tell you what to do, I just feel that we have some of the same tendencies and this has helped me alot so I thought that it may help you.
Rodgers
Hey dpaterso, I have also experienced this ‘empty feeling’ after earning a considerable amount of money, and I recently found out that its because we weren’t made to be satisfied by money or material gains, but what satisfies is living in your purpose, which only comes from the one who created us. I am new to forex(3 months) and I must say your system works. I guess you have helped so many people, so I just thought I would share this, hope it helps.
peace
Hi All, especially Dale:
I was reading through all of the posts and stopped for the time being at about page 135 (I started from the forst post at page 175 or whatever). I have about 135 pages to read! I did some sampling to see what was going on more recently and was VERY saddened to read that you had lost a lot of money.
The last things you were doing was looking to find another indicator to work with the PSAR. Nothing seemed to work.
I would like to suggest one, the PSAR, thre usual Parabolic Stop And Reverse, but with faster acceleration. Please try to follow my thinking...
The PSAR always wins as long as the market is trending enough. Good, so we start with the classic PSAR as you describe in your early posts.
After each stop and reverse, (for each market) as yourself only ONE question: [B]Did I win or lose on the trade?[/B] If you won, keep things as they are.
If you lost (you have already bought the reversed position) then something is not right with the PSAR at that time. Maybe the market has become choppy…not trending. BUT we do not want to abandon the PSAR, and we find that no other indicator tells us what to do now.
So stick with the PSAR with the position that you just stopped and reversed into. NOW start calculating the PSAR with a faster acceleration (0.05) and perhaps a higher max acceleration (perhaps 0.50 max).
If we have moved into a ranging market (not trending) then the faster PSAR parameters will help keep losses low. If we have moved back into a trending market, we are in the market, and the faster parameters will keep us in for a while.
As the trending market continues, (perhaps for a few days or weeks--we will have to determine that), then switch back to the original PSAR parameters (0.02 acceleration, 0.20 max), and we are still in business.
I thought of this while looking at the rhythm of the major currencies.
This looks acceptable on my charts (MT4), but may have a flaw (or many) somewhere.
Again Dale, I was very sorry to hear of your market loss.
Thanks,
Barry
In looking over my previous post, I think that I am on the wrong trail.
Now, I favor a bit of overall optimization of the PSAR parameters. Using the daily EUR/USD chart the PSAR parameters of (acceleration) .01 with a max of .2, smooth things nicely.
In fact in their [U]Encyclopedia of Technical Market Indicators[/U], Colby and Meyers say that when they optimized the PSAR (using the weekly NYSE composite) from 0.02 to 0.20 (acceleration factor) profits doubled.
Perhaps a bit of optimization would be a good place to look. (I did not notice any mention of optimization in the posts of this thread that I read.)
Colby and Meyersfinish by saying that “In conclusion, Wilder’s Parabolic Time/Price System appears worthy of consideration.”
Barry
Somebody slap me down.
NOW I think that once we optimize for the currency pair, we trade as usual.
However, every time we do a Stop and Reverse, we look at the major trend of the price action.
If the SAR reversal is a counter-trend move (retracement) then we should increase the acceleration constant.
I guess what I am looking at is keeping the PSAR as the guiding force in the trading plan. However, I want to modify its parameters based on the market (overall PSAR parameters) and further modify the parameters (for a shorter time period) while we appear to be in a retracement.
Please see the attached chart EUR/USD daily. The action of interest is on Oct 4. I’m not too sure about the 10 December area.
Here are my “rules” and values I am looking at for the daily EUR/USD:
-
Use the daily charts. Optimize the constants of the PSAR until it looks “nice.” For the daily EUR/USD I am using: 0.01 acceleration function with a maximum acceleration of 0.8.
-
Trade it.
-
Whenever it asks you to REVERSE, do the following (don’t make the reversal yet!):
Use the weekly and monthly charts (along with the daily) to determine the major trend. Now look at the reversal:
If the reversal is with the trend, just keep trading as usual.
If the reversal is counter-trend do the following:
a. Plot a PSAR using faster acceleration than the main PSAR you were using.
In my example, I am using: .04 with a maximum of .8.
b. Look at this faster PSAR. If it is not yet calling for a reversal, do not reverse…you will have been stopped out, now we are looking at the reversal. Either stay in or stay out.
If the faster PSAR is also calling for this counter-trend reversal, follow the faster PSAR, until you get a with-the-trend reversal on this faster PSAR.
Stay with the trade until the PSAR with the parameters set as in 1., above catches up. Then (once you get a with-the-trend reversal,) go back to using the original optimized PSAR values (as in 1., above).
Can you save your charts as gifs or pngs? They’re pretty hard to read, especially the PSAR dots =P
Hi:
I made the dots larger, but no longer have the labels. Hopefully you can use the labels (text) from the previous chart. I have attached the larger-dots chart.
Barry
BarryPips,
I appreciate the ideas. Thanks for that. I will take a look and re-read and see If I can figure it out. I have not altered the default settings of PSAR up til now.
Thanks again.
Hey my friends,
Not to detract from this thread but take a look at this thread that I just started:
Somehow or the other I’m trying to find the ‘Parabolic SAR Holy Grail’ and but this is just something that I have come up with along the way.
Please take a look (and post comments on that thread). I know I can trust everyone on THIS thread to be honest and direct in their opinions.
Also - maybe - there is a way of combining the two - still working on it though.
Sorry - I did want to say that I really do appreciate all the kind words from the new people on the thread (and also from my old friends of course).
It’s difficult for me to respond to all the messages because (as you probably know) I am having to connect using my mobile phone and it’s slow and costly. The post above I typed up offline (in Notepad) and then connected and posted (to keep time to a minimum).
Anyway - the point is - I appreciate all the kind words and words of encouragement from everyone. I read the (this) thread often (very quickly of course).
I also particularly like the idea of ‘optimising’ PSAR for different pairs (something which HAS ‘bugged’ me for some time). Keep testing.
I have already detailed (what I think) to be the biggest problems with Parabolic SAR and am still working on the ‘solution’ (if there is such a thing).
Akram (and anyone else): my email address is [email protected] (could no longer afford websites and email addresses!!! Who would have thought that someday I’d have to be using my mobile phone to connect and use a FREE email address)???
I’m still hoping that one day I’ll be able to write a book that will start out by saying something like ‘I was down to my last $50 and look where I am now!!! Never give up’!!!