[QUOTE=“Carnino;647707”] The Single Order, 100% Allocation with Trailing Stop and with no TP as I introduced in Post#228 and described further in Post#229, that I have defended so far as being the most profitable. As for the stop size, I advised you earlier on that in Post#568. However, do some research on your own by doing a few manual back-tests (or forward tests) on your brokers data. Don’t just take my word for it. Verify it so that you can feel confidant in its use.[/QUOTE]
That’s awesome. now I use a software that I can’t have the trailing stop step every 5 pips. It has to follow pip by pip. Should I widen the stop to 7 or 8 to account for this?
I have been following this thread for a while. And need to say - great job guys!
Carnino, as I am from East Europe the Admiral Markets is mostly appreciated broker in the region. But I do face I problem for finding the right tool to get me right Hight and Low of the day as the broker closes the candle not on the close of NY market. What is the best practice here?
[ol]
[li]Look at a H1 chart (instead of D1).
[/li][li]Mark off the bar that corresponds with the last bar of New York Close with a vertical line. The Close of this bar will correspond with the NY Close.
[/li][li]Count back 24 bars (inclusive). This will be the bar that starts the UTC+2 day, so mark it with another vertical line.
[/li][li] Hint: The Weekend Period Separators (see example chart below), will give you an idea of the time of these bars.
[/li][li]Now find the High and Low between those two lines inclusively.
[/li][/ol] NB! Very important! Different brokers use different time zones and the example chart here will most probably not match with your broker, so the Period Separators will not match. It is just a visual example!
I had one winner on the sell side, but all the rest were losses. I was comparing my entry prices to Vijay’s and they sure are different. It is amazing how different the different brokers can be. He had two winners on the sell side.
Good day everyone I am Leo, I am back here after over geez 5-10 years and I am finally getting back into trading! Very happy to be here. First thank you to all contributors special thanks to Vijay without whom we wouldn’t be here, and Carnino, who has also brought different perspective to this breakout strategy. Dear fellow traders and aspiring traders, I am interested to know if there is still a chance of another thread being opened another thread with a one position taken instead of three, with trailing stop, and all that evolves from it all that could be tested, forward tested, and discussed… From post to post we go from one to another and I believe both are quite different and that both could benefit from having their own place for discussion, but maybe it’s just me? Anyone else thinks a bit like I do on this ? For my part I will want to forward test and post results from whichever best results we find as time and reflection and testing goes by… and contribute if I may.
Yes, I will be starting a separate thread very soon (please also refer to Post #544). However, all the information needed to be able to manually trade either of the two main strategies is here on this thread.
For manually trading my method (Single with Trailing), the new thread will basically group all the dispersed posts of information into a more organised and concise description with some minor additions and adjustments.
For automated trading however, there will be plenty of new information as well as accompanying EA for MT4. There will be several back tests for different periods and for different currency pairs. I will also create a dedicated trading account on my broker to run a forward test of the EA.
In India Admiral market is under brand name Mtrading.Apart from that data feed is same.
I am currently testing with smaller lot size of 5 stop/15 target. After 30 days of forward test i will put it on myfxbook.
Advantage is that even during high volatile there is hardly any slippage.
In terms of spread it is having 2 pips and during active session it is 1 pips.
Goal is to make 1 Million dollar ( some people will laugh at me and i am not joking )
I have a demo account with Admiral Markets UK Ltd. and I have just seen a huge spike in AUD/USD at 15:34 server time of Admiral. With all other brokers I have real or demo account the spike is less than 50 % of Admiral. That is not normal. I don`t know if that spike in demo is in real account, too, but I don´t want to try that. So Admiral Markets is not my favourite choice. At the moment I prefer ActivTrades, the spread is about 0.9/1 pip in GBP/USD with no extra commission.
Hello folks,
As promised in my previous post. I am showing you the plan to make million dollar using 5/15 method. I don’t prefer PARMAR3P because of risk:reward compared to 5/15.
Initial Deposit : Anywhere between $300-$1000
Leverage : 1:500
Trade with 5/15 method (5 Pips Stop Loss and 15 Pips Target ) i.e Risk:Reward 1:3
Short Term Goal : To make 200 Pips (For 1 trading cycle )
Long Term Goal : To complete 11 Trading cycle
Draw-down should not be more than 100 Pips ( 20 Losing trade in a month (Whole month Negative))
One can start with any lot size eg 0.1, 0.2, 0.3 (depends on fund and risk they are willing to take )
If starting with 0.1 Lot size and if 1st Trading cycle is complete
Don’t Trade with any other method apart from this.
It may take 2-3 year to achieve Long Term goal(Depends on markets)
One can even start with 0.5 lot size and 1 lot size if they want to skip 2-3 trading cycle.
I have show the chart of 12 Trading cycle started with 0.2 Lot size and 400 Initial Deposit.
[QUOTE=“vijaykumar;648292”] Hi Dax, I am just trading GBPUSD only. However if you are happy with activTrades its fine. What is slippage in that ?[/QUOTE]
Hi Vijay,
i know you only trade GBP/USD. But such a spike can happen in your currency pair too. I don’t like stop-fishing of brokers. When I see such a spike only at one broker then I avoid this broker.
At the moment I don’t trade “Parmar 3P”. Breakout strategies often don’t work in summer times. Perhaps because of less volume. I let it run from middle of september.
Hi Vijay.
I’m confused (age does this!). I have been following your original strategy with mixed results, trading manually.
I am obviously interested in your new system to make me a millionaire! I have followed this thread from the beginning, and I know Carnino has added various suggestions as well.
So, could you just clarify for me what you are now suggesting? Is the 5/15 system a ‘set and forget’ like the original system (but only the one T/P), or does it involve any kind of trailing stop etc.
Your chart seems to suggest it’s easy to go from an initial 400 to 800 (a 100% increase). How long do you plan for this to take?
[QUOTE=“simoninaustralia;648410”] When does the summer months begin in your opinion? Middle of June? Thanks Simon[/QUOTE]
To really know that we must do backtests for some years but in my opinion july and august are the main summer months. Two weeks before and after these months can be included. This is only my opinion and I have no proof. I have often read in threads that breakout is difficult in summer.
I take a look at the volume in the future market and compare the volume of summer to other seasons. I will report.
This is my first in here,so hello for everyone! I have watched this topic almost from the beginning,and also put small amount
of money for live trading with this system.For my bad luck ,I started to do it in the late of June,and soon it was the worst time for it so far …And the reason is summer season,which can also see clearly in Carninos back test with his own trailing system.
So,I`d like to ask from Vijay,Have you done back test for your new 5/15 system,how summer season went in it,and overall,
how realistic you think about your goals,based on back testing…Also,if someone could guide me,from where(what pages) it would be most practically to start to learn back testing by myself…My English is not so good ,that simple teaching for simple man,it would be the best ;)…
Since you are asking the question, it is obvious you do not know how to code a strategy (such as an EA in MetaTrader), so you will not be able to do automated back-testing without first overcoming that obstacle.
However, you can still manually back-test a system by simulating the order processing on paper or with a spread sheet as you advance the view on regular charts on the screen. Choose the appropriate chart for the Symbol and Timeframe you desire and disable the chart’s AutoScroll and then scroll back in time to where you want to start. Then step through the chart one bar at a time, and simulate the order process, taking note in a spread sheet of all the simulated orders. At the end, do the statistical maths and analyse the metrics obtained, such as growth, profit factor, win-rate, drawdown and the other usual metrics we use.
If however, manual back-testing is still confusing for you, then I would suggest that you go through BabyPips[B][I]School of Pipsology[/I][/B] in order to improve your level of knowledge about Forex and Trading in general. There are also many other online sources of information such as Investopedia or your software’s own website.
I am Leo, I am back here after over geez 5-10 years and I am finally getting back into trading! Very happy to be here. First thank you to all contributors special thanks to Vijay without whom we wouldn’t be here, and Carnino, who has also brought different perspective to this breakout strategy. Dear fellow traders and aspiring traders, I am interested to know if there is still a chance of another thread being opened another thread with a one position taken instead of three, with trailing stop, and all that evolves from it all that could be tested, forward tested, and discussed… From post to post we go from one to another and I believe both are quite different and that both could benefit from having their own place for discussion, but maybe it’s just me? Anyone else thinks a bit like I do on this ? For my part I will want to forward test and post results from whichever best results we find as time and reflection and testing goes by… and contribute if I may.
