PARMAR 3P Trading System

[vijaykumar]

Today Stat
Trade 3
Winner 3
PARMAR 3P Trading System | Myfxbook
Regards
Vijaykumar parmar

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Hi, some weeks I understant that on monday you don’t place orders with the closing prices of last friday and keep the last open ones, thursday`s, is it correct? but today I see you opened possitions with the closing prices of friday, could you please confirm whitch is the correct system on that? or if it depends of anything.

Thanks

I did not say anywhere that i did not trade on Monday.
EA does not place order if there is GAPUP/GAPDOWN else i am trading all trading days.
regards
vijay

[FMIC]

some time when price break high/low than in few second the pair move fast and trailing was not working as per expectation.
Also I have tried to move to breakeven at certain pips however in that case also winner trade will close to breakeven.
That is reason i prefer three order and three target at different level.
I am using EA but those who trade manually can not sit in front of computer for trailing so for them it is better to place 3 order and 3 target.
regards
vijay

Your reasoning is faulty! You do not have to manually place trailing yourself.

For those using manual trading, they can set the trailing stop on the Pending Order, and as long as [I]MetaTrader[/I] remains open and running, it will control the trailing stop for you automatically without needing to remain in front of the computer.

For others, like yourself that use an EA, then it can do the trailing for you as well.

I have used trailing many times before both via [I]MetaTrader[/I] or via EAs and it has always worked without any incident.

So, I do not see what the problem is!

[FMIC]

some time when price break high/low than in few second the pair move fast and trailing was not working as per expectation.
Also I have tried to move to breakeven at certain pips however in that case also winner trade will close to breakeven.
That is reason i prefer three order and three target at different level.
I am using EA but those who trade manually can not sit in front of computer for trailing so for them it is better to place 3 order and 3 target.
regards
vijay

Vijay, I get the distinct feeling that you have not tried out any of my suggestions in your back-testing and that you are rejecting them without any real foundation.

If you are unable to code the EA changes yourself or do not wish to pay for the coding to be changed, then you are welcome to ask me for help and I can code the changes for you.

[Abdul2012]

hello folks,
Short Introduction: I have been trading forex since last 7 years.During first 3 years i had blown my account numbers of time. I was trading with emotion,fear and greed. Trading of any time frame and news trading etc.
Trading without stoploss and risk:reward and ultimately losing the money. In short, Just gambling and not trading professional way.
Later, I started trading using daily chart and stick with it. Trading using Price Action Method. Got some what success but the main thing is consistency.

I was doing research on few method which provides consistent and good result.

[B]PARMAR 3P Method.[/B]

By the way, Parmar is my last time and 3P stands for [B]Profit,Percentage allocation and Persistent.
[/B]
The Method is quite simple and takes 10 min of your daily time.
You don’t have to be pro and experienced.

The Method is based on daily chart. Look for broker which gives 5 candle per week and ignore weekend candle.

Step 1)

Place 3 order above the high and below the low of previous candle with 1 pips offset.

Eg if EUR/USD high is 1.33157 and low 1.32451 then
[B][I]place 3 order of buystop at 1.33167 and sellstop at 1.32441[/I][/B]

step 2)

[B]Target and stop loss.[/B]

Stop loss for all three order is 5 pips.
Target is 5 Pips, 10 Pips and 15 Pips.

Now let us assume that you have place 0.1 lot size

so there are 4 outcomes

Outcome 1st order 2nd order 3rd order Result Result
in $
(5/5) (5/10) (5/15) pips
1 Loss Loss Loss -15 pips -$15
2 Profit Loss Loss - 5 pips -$5
3 Profit Profit Loss +10 pips +$10
4 Profit profit profit +30 pips +$30

Now the probability of achieving 5/5 is more than 5/10 and 5/15
As soon as the high/low break the probability of moving 5 pips is more. some time it moves 30-50 pips as well.

so what we have done is percentage allocation.

Initially we have used 0.1 lot size. so for there order our total lot was 0.30

Now we will distribute these 0.30 into 60%, 20% and 20% which will be 0.18, 0.06 and 0.06

Now see the result difference

Outcome 1st order 2nd order 3rd order Result [B]Result[/B]
(5/5)#0.18 (5/10)#0.04 (5/15)#0.04 pips [B]in $[/B]
1 Loss Loss Loss -15 pips [B] -$15[/B]
2 Profit Loss Loss -10 pips [B] +$3[/B]
3 Profit Profit Loss +10 pips [B]+$12[/B]
4 Profit profit profit +30 pips [B]+$27 [/B]

sounds great, isn’t ?

pips is same but in terms of $ it is great and that is what it matter.

Now pair.
Best outcome will be in EUR/USD and GBP/USD

I have back tested these method over several year and month by month and result is quite impressive.
Not a single losing month.

At last, thanks for looking these method and will be awaiting for both positive and negative comments.:23:
regards
vijaykumar parmar

Hi mate
Thanks for the info big like
Cheers

[vijaykumar]

Vijay, I get the distinct feeling that you have not tried out any of my suggestions in your back-testing and that you are rejecting them without any real foundation.

If you are unable to code the EA changes yourself or do not wish to pay for the coding to be changed, then you are welcome to ask me for help and I can code the changes for you.

Hi carnino,
I have used trailing concept before in ea. Once 5 pips target hit stop loss will set to breakeven and once 10 pips is hit it will set SL to 5 pips.
In these case so many times price hit 5 pips as come to entry point and resulted in breakeven and then reverse back to 15 pips. So instead of profit my order was in breakeven.
This is the reason I doesn’t like trailing.
Once I will be free I will post result.
Regards
Vijay

[FMIC]

Hi carnino,
I have used trailing concept before in ea. Once 5 pips target hit stop loss will set to breakeven and once 10 pips is hit it will set SL to 5 pips.
In these case so many times price hit 5 pips as come to entry point and resulted in breakeven and then reverse back to 15 pips. So instead of profit my order was in breakeven.
This is the reason I doesn’t like trailing.
Once I will be free I will post result.
Regards
Vijay

Your strategy is a daily one. You cannot rely on just a sample of a few days to substantiate your reasoning. The back-test I have provided covers an entire year and clearly shows that there is a large difference between using a Trailing Stop and not using it, even though there are plenty of trades that just break-even.

For every suggestion I gave, I have provided reasonable proof via Mathematics, Statistics and Back-test results. However, you reject them without substantiating your reasoning with data of your own.

I feel that you are stuck in your ways and that is your prerogative. However, I see no need why I should continue the research and testing if it has no value for you.

Should I continue to pursue this for my own sake, then I will start a new thread for those that are interested and I will provide a MyFXbook link for a forward testing.

Best of luck and may the pips continue to roll in for you, Vijay!

Regards,
Carnino

[vijaykumar]

Your strategy is a daily one. You cannot rely on just a sample of a few days to substantiate your reasoning. The back-test I have provided covers an entire year and clearly shows that there is a large difference between using a Trailing Stop and not using it, even though there are plenty of trades that just break-even.

For every suggestion I gave, I have provided reasonable proof via Mathematics, Statistics and Back-test results. However, you reject them without substantiating your reasoning with data of your own.

I feel that you are stuck in your ways and that is your prerogative. However, I see no need why I should continue the research and testing if it has no value for you.

Should I continue to pursue this for my own sake, then I will start a new thread for those that are interested and I will provide a MyFXbook link for a forward testing.

Best of luck and may the pips continue to roll in for you, Vijay!

Regards,
Carnino

Hi carnino,
You are taking it negatively. I haven’t rejected anything what I told that I will post the result as soon as I will be free. I had done 5 pips trailing stop.
I appreciate your knowledge about mathematics, programming and in forex.
Today only I will post the backtest result of l 2014 to see what are the diffrence and what changes can be made.
Your post are valuable to the thread and even I have told you that you can post your work here.

I just want to compare today the statical data of trail vs fixed. Because I have tried that in past it had not worked for me might be I have made some mistake.

Also I have said that if any changes in system is more profitable than I will forward test and than only will make changes.

Regards
Vijay

[FMIC]

Hi carnino,
You are taking it negatively. I haven’t rejected anything what I told that I will post the result as soon as I will be free. I had done 5 pips trailing stop.
I appreciate your knowledge about mathematics, programming and in forex.
Today only I will post the backtest result of l 2014 to see what are the diffrence and what changes can be made.
Your post are valuable to the thread and even I have told you that you can post your work here.

I just want to compare today the statical data of trail vs fixed. Because I have tried that in past it had not worked for me might be I have made some mistake.

Also I have said that if any changes in system is more profitable than I will forward test and than only will make changes.

Regards
Vijay

Sorry Vijay! My apologies for the misunderstanding!

Best regards,
Carnino

[vijaykumar]

Hi Carnino,

Here is the Result for 2014

1-1-2014 till 31-5-2014

[B]Initial Deposit :$1500
Fixed Risk : 1% of Equity ($15)
Method : PARMAR3P
Lot size : 0.18,0.06,0.06 for (5,10 and 15 pips)[/B]

[B]Total Trade :309
Total Net Profit : $444
Return : 29.6%
Maximal Drawdown : 79.38 ( 4.42 %)
Profit Trade :146 (47.25%)
Loss Trade : 163 (52.75%)
Profit Factor : 1.61
Expected Payoff : 1.44[/B]

Now for the same period I have backtest with Trail Stop of 5 pips

[B]Initial Deposit :$1500
Fixed Risk : 1% of Equity ($15)
Method : Trail of 5 pips + Trail Gap 1 Pips (Target 100 Pips and stop 5 Pips)
Lot size : 0.30[/B]

[B]Total Trade :104
Total Net Profit : $579.90
Return : 38.66
Maximal Drawdown : 75 ( 4.26 %)
Profit Trade :70 (67.31%)
Loss Trade : 34 (32.69%)
Profit Factor : 2.14
Expected Payoff : 5.58[/B]

Note : Here risk is fixed 1%. By altering risk return can vary.

[B][I][U]Results is impressive of trailing however i will setup another account for the forward test within couple of days. So that everybody can compare the real output of two account. [/U][/I][/B]
:35::35::35:

regards
vijaykumar parmar

[vijaykumar]

New account has been created for the forward testing. It is connected with Myfxbook.

The previous account and new account will have same risk per day…

Let us see the performance for atleast few weeks.

regards
vijaykumar parmar

[Bobkat]

“Method : Trail of 5 pips + [B]Trail Gap 1 Pips[/B] (Target 100 Pips and stop 5 Pips)”

Could you explain what [B]Trail Gap 1 pips[/B] is?

[vijaykumar]

“Method : Trail of 5 pips + [B]Trail Gap 1 Pips[/B] (Target 100 Pips and stop 5 Pips)”

Could you explain what [B]Trail Gap 1 pips[/B] is?

It is for trailing with added gap so first trail start at 6 pips and then 5 pips.
Regards
Vijay

[Bobkat]

I have to say that Vijay’s 3 trade money management method is genius. I love the fact that if the trade moves in my direction for only 5 pips (+ spread), I am guaranteed a minimum of a small profit with no overall loss (+ much greater profits if the trade moves just another 10 pips)!

This set and forget strategy is priceless. No stress watching and praying for a win.

Due to time constraints, I am forced to trade this system on Oanda’s new daily candle at midnight EST. It’s working very well for me with +179 pips profit since May 27th with somewhat sporadic trading sessions. Perhaps we can test for different entry times to determine what entry time proves to be optimum.

Thanks again, Vijay! :59:

[FMIC]

Hi Carnino,

Here is the Result for 2014

1-1-2014 till 31-5-2014

[B]Initial Deposit :$1500
Fixed Risk : 1% of Equity ($15)
Method : PARMAR3P
Lot size : 0.18,0.06,0.06 for (5,10 and 15 pips)[/B]

[B]Total Trade :309
Total Net Profit : $444
Return : 29.6%
Maximal Drawdown : 79.38 ( 4.42 %)
Profit Trade :146 (47.25%)
Loss Trade : 163 (52.75%)
Profit Factor : 1.61
Expected Payoff : 1.44[/B]

Now for the same period I have backtest with Trail Stop of 5 pips

[B]Initial Deposit :$1500
Fixed Risk : 1% of Equity ($15)
Method : Trail of 5 pips + Trail Gap 1 Pips (Target 100 Pips and stop 5 Pips)
Lot size : 0.30[/B]

[B]Total Trade :104
Total Net Profit : $579.90
Return : 38.66
Maximal Drawdown : 75 ( 4.26 %)
Profit Trade :70 (67.31%)
Loss Trade : 34 (32.69%)
Profit Factor : 2.14
Expected Payoff : 5.58[/B]

Note : Here risk is fixed 1%. By altering risk return can vary.

[B][I][U]Results is impressive of trailing however i will setup another account for the forward test within couple of days. So that everybody can compare the real output of two account. [/U][/I][/B]
:35::35::35:

regards
vijaykumar parmar

Hello Vijay,

[ol]
[li]What currency pair did you use in these tests?
[/li][li]What was the spread amount?
[/li][li]Can you explain in detail what the 1 pip Trail Gap is?
[/li]From your other post, you say that is the initial Trail stop of 6 pips, but what exactly is it for?
Do you mean that when price reaches (Open + 6 pips), you set it the Stop Loss to (Open + 1 pip) so that you cash in a little profit to make up for what you lost in the spread?
[li]Did you use fixed risk based on initial balance or compounding risk based on running balance or equity?
[/li][/ol]

[vijaykumar]

Hello Vijay,

[ol]
[li]What currency pair did you use in these tests?[/li][li]What was the spread amount?[/li][li]Can you explain in detail what the 1 pip Trail Gap is?[/li]From your other post, you say that is the initial Trail stop of 6 pips, but what exactly is it for?
Do you mean that when price reaches (Open + 6 pips), you set it the Stop Loss to (Open + 1 pip) so that you cash in a little profit to make up for what you lost in the spread?
[li]Did you use fixed risk based on initial balance or compounding risk based on running balance or equity?[/li][/ol]

Hi carnino

1. currency pair was GBP/USD
2. spread was 1.5
3. It is just first trail start when 6 pips is reached than after 5 pips.
   4)It was fixed risked based on initial with fixed lot size.

regards
vijay

[vijaykumar]

I have to say that Vijay’s 3 trade money management method is genius. I love the fact that if the trade moves in my direction for only 5 pips (+ spread), I am guaranteed a minimum of a small profit with no overall loss (+ much greater profits if the trade moves just another 10 pips)!

This set and forget strategy is priceless. No stress watching and praying for a win.

Due to time constraints, I am forced to trade this system on Oanda’s new daily candle at midnight EST. It’s working very well for me with +179 pips profit since May 27th with somewhat sporadic trading sessions. Perhaps we can test for different entry times to determine what entry time proves to be optimum.

Thanks again, Vijay! :59:

It was good to see people are trading consistently with these method.
Profit will be generated over a period of time and there is no doubt about it.
good luck…
regards
vijay

[vijaykumar]

Today stat
Trade # 3
Loss # 3
PARMAR 3P Trading System | Myfxbook
regards
vijay

[FMIC]

3. It is just first trail start when 6 pips is reached than after 5 pips.

Hello Vijay,

Why not 5 pips all the way? Can you please explain the reasoning for the initial trailing of 6 pips and then 5 pips?

[Jacek]

VJ,
please explain the difference with trades taking between two MM aproaches, once you tak 309 trades while on other only 104… seems to me the trade executions schould be same in both cases, am I wrong??

[FMIC]

VJ,
please explain the difference with trades taking between two MM aproaches, once you tak 309 trades while on other only 104… seems to me the trade executions schould be same in both cases, am I wrong??

Hello Jacek,

I suggest you read the complete thread from beginning to end as there is discussion going on between myself and Vijay with regards to alterations to the original strategy.

The first test, as per the original uses 3 orders with different profit targets and diversified risk allocation (effectively a Scaling out strategy)

The second test is for Single Orders with the full risk allocation and with a trailing stop instead, hence the 3 to 1 ratio difference in the number of orders placed and subsequently triggered.

Regards,
Carnino