PARMAR 3P Trading System

Bobkat · July 7, 2014, 11:11pm

Anyone have trade results for today?

vijaykumar · July 8, 2014, 4:39am

Today 3 loss in live due to new release…
worst period so far

FMIC · July 8, 2014, 4:59am

New Release??? Why would the new version of MetaTrader cause a loss???

vijaykumar · July 8, 2014, 5:22am

my mistake…it was news and not new

Bobkat · July 8, 2014, 5:37am

Another BV day for me on Oanda…no loss.

piphauler · July 8, 2014, 6:43am

Same for me, but I’m keeping my long position open (still pending).

mccann · July 8, 2014, 6:48am

more losses. not looking good!

FxRipp · July 8, 2014, 7:36am

I’ve opened positions yesterday at the beggining of the new daily candle on GBP/USD and get 3 success going short.

I’m using a demo acc on fxdd and that pair has 3 pips of spread

DrMagdy · July 8, 2014, 8:24am

Hello All,
During the last few days I’ve read all the posts in this thread since post one, I’ve also tried the system in Demo Account. I would like to thank Mr. vijaykumar for sharing his great ideas and also I would like to thank Mr. Carnino for his great efforts to improve the system and thanks for the comments of the rest of members too.
Yesterday my demo account in IC Markets was 3 losses but today was 3 wins. However due to the recent comments from Vijay and others and the discrepancies between our results I am concerned about the effect of slippage that’s not present in Demo!! As the system is based on consistently gaining small wins (5,10,15 pips) and the stop loss is just 5 pips away that makes slippage has a great impact on the outcome and this can’t be tested neither on demo accounts nor by back testing.
Now I’m asking you for advice, do you think it’s better to test it on real money (starting on a very small account of course) to be able to truly measure the outcome of this system??
Another question does anyone know a good and cheap VPS provider??

surajms · July 8, 2014, 9:24am

Hi Vijay Kuma

surajms · July 8, 2014, 9:29am

Hi VijayKumar,

Excellent work. I have 2 things you may please advise.

Which broker do you trade with, i just cant find the broker with 1 pip spread.
When we are placing the trades, at the opening of the market, if the previous candle is the daily low, how will you place a stop sell?

Thank you for sharing the system bro.

FMIC · July 8, 2014, 9:33am

DrMagdy:

Hello All,
During the last few days I’ve read all the posts in this thread since post one, I’ve also tried the system in Demo Account. I would like to thank Mr. vijaykumar for sharing his great ideas and also I would like to thank Mr. Carnino for his great efforts to improve the system and thanks for the comments of the rest of members too.
Yesterday my demo account in IC Markets was 3 losses but today was 3 wins. However due to the recent comments from Vijay and others and the discrepancies between our results I am concerned about the effect of slippage that’s not present in Demo!! As the system is based on consistently gaining small wins (5,10,15 pips) and the stop loss is just 5 pips away that makes slippage has a great impact on the outcome and this can’t be tested neither on demo accounts nor by back testing.
Now I’m asking you for advice, do you think it’s better to test it on real money (starting on a very small account of course) to be able to truly measure the outcome of this system??
Another question does anyone know a good and cheap VPS provider??

One way to counteract the slippage effect is to select your stop size based on several factors such as:

[ol]
[li]Slippage (Average and Standard Deviation)
[/li][li]Spread (Average and Standard Deviation)
[/li][li]ATR (Ratio of a very low time frame, such as M1, M5 or even M15)
[/li][/ol]
If instead of using a fixed 5 pip stop size, you use one based on the above factors, you will not only improve profitability but also the win rate.

These are actually improvements that I want to discuss in further detail, but lately, this thread has not developed much and [I]Vijay[/I] has not yet set up the necessary conditions in his EA in order for things to evolve.

If I see that things don’t go forward much, I guess I will just have to start my own thread.

As for VPS, some brokers offer them for free (under certain conditions).

FMIC · July 8, 2014, 9:35am

Hello suajms,

I suggest you read the thread from beginning to end as your questions have been asked and answered before.

Regards,
Carnino

DrMagdy · July 8, 2014, 10:07am

Carnino:

One way to counteract the slippage effect is to select your stop size based on several factors such as:

[ol]
[li]Slippage (Average and Standard Deviation)
[/li][li]Spread (Average and Standard Deviation)
[/li][li]ATR (Ratio of a very low time frame, such as M1, M5 or even M15)
[/li][/ol]
If instead of using a fixed 5 pip stop size, you use one based on the above factors, you will not only improve profitability but also the win rate.

These are actually improvements that I want to discuss in further detail, but lately, this thread has not developed much and [I]Vijay[/I] has not yet set up the necessary conditions in his EA in order for things to evolve.

If I see that things don’t go forward much, I guess I will just have to start my own thread.

As for VPS, some brokers offer them for free (under certain conditions).

Thanks a lot Mr. Carnino. I hope that you share your improvements soon, It will really add much to the system.

Bobkat · July 8, 2014, 2:11pm

Carnino:

One way to counteract the slippage effect is to select your stop size based on several factors such as:

[ol]
[li]Slippage (Average and Standard Deviation)
[/li][li]Spread (Average and Standard Deviation)
[/li][li]ATR (Ratio of a very low time frame, such as M1, M5 or even M15)
[/li][/ol]
If instead of using a fixed 5 pip stop size, you use one based on the above factors, you will not only improve profitability but also the win rate.

These are actually improvements that I want to discuss in further detail, but lately, this thread has not developed much and [I]Vijay[/I] has not yet set up the necessary conditions in his EA in order for things to evolve.

If I see that things don’t go forward much, I guess I will just have to start my own thread.

As for VPS, some brokers offer them for free (under certain conditions).

Hi Carnino,

What settings for Take Profit, Stop Loss, and/or Trailing Stop are you currently favoring for [I]manual[/I] entries? Recently, most of my orders have become boundary violations on Oanda, following news price spikes. I will most likely be using your recommended single order with TP of 15 pips.

Much appreciated,
Bob

FMIC · July 8, 2014, 3:30pm

Please note that my recommendation is for single orders with trailing stop, not with a TP.

Since conditions are different due to slippage, spread and other factors such as your boundary violations, I cannot recommend an ideal stop size for you, but a very simple approximation can be calculated as follows:

[ul]
[li]Stop Size = (M5 or M15 ATR) + (Avg. Spread) + (Avg. Slippage) [Period of 10 Days]
[/li][/ul]
However it also depends on the standard deviations of the mentioned factors, so it is only a rough estimate of an ideal stop size.

Currently in my own EA, besides the above approximation, I am also using MFE/MAE analysis in order for the EA to automatically adjust the SL and Trailing accordingly. The code and testing is however incomplete and I cannot offer back-test analysis yet.

Bobkat · July 8, 2014, 3:47pm

Thanks Carnino

stickerman · July 8, 2014, 3:57pm

Quick update> my FXDD demo had 3 wins today.

S.

grock · July 9, 2014, 12:11am

"Carnino":

Please note that my recommendation is for single orders with trailing stop, not with a TP.

Since conditions are different due to slippage, spread and other factors such as your boundary violations, I cannot recommend an ideal stop size for you, but a very simple approximation can be calculated as follows:

[li]Stop Size = (M5 or M15 ATR) + (Avg. Spread) + (Avg. Slippage) [Period of 10 Days][/li]
However it also depends on the standard deviations of the mentioned factors, so it is only a rough estimate of an ideal stop size.

Currently in my own EA, besides the above approximation, I am also using MFE/MAE analysis in order for the EA to automatically adjust the SL and Trailing accordingly. The code and testing is however incomplete and I cannot offer back-test analysis yet.

Carnino, what are you using as your “step” for your stop loss?

FMIC · July 9, 2014, 4:04am

Do you mean Trailing Stop (not Stop Loss)?

As I said in what you quoted, I am not using a fixed value but one based on the calculation for an approximation plus adjustments based on MFE and MAE analysis.