Hello RobTurbo,
thank You for sharing your experience and i am very interested to see how you perform with this methode in the future. Keep us updated whenever you feel like posting!
Hello Steve,
unfortunately i am restructuring my company since the beginning of this year, and developing another business which i think has a big future. Therefore i am very often on travels lately and meetings and government/lawyers stuff is occupying my time. I am dropping in as often as i can, but everytime i try to answare on questions or do a general post, i get distracted.
I wil as much as possible post within the next few days since the next few days should be a few quiet days.
About the reasons i posted the trades above: it was the start of a test of the methode, the results are on page 13 - 1,5 months later.
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hello smokingkid,
you got it right. You trade from the 1day chart. if you try to go down in scaling, like the 1-hours chart- i can not guarantee it will work, neither will i guarantee it wont work. bu from my observing i am pretty sure it will not work.
About the āyour jobā-part: yes you are right, you only change the numbers after the trade is open, you do not close manually or thelike.
You can freely use this methode on a 100ā¬ account, that is no problem, but you must stick to the 2% rule. no single trade must exceed the potential loss of 2%of your account size.
The profits on a 00ā¬ account will be very little, but you can consider it as practizing, rather than trying to make a living.
are you trading in trending markets? or did you chose the securities you are trading in by hand?
best way to find a trending market and avoid ranging markets is to open the very fisrt trade according to the 40-days methode.
All 5 were opened with the 5 day method, Iāve only been trying it out for one week, the first two trades were opened 31 March (eurusd, eurgbp), third 03 April (bcousd), fourth 04 April (usdcad), and the fifth 06 April (audusd), so itās still only early days, and up to +1.9% unrealized profit now!
Hey TURBONero!
Glad to see you back posting again. I am testing your system on a small live account. From your posts i see you backtested this system on paper? How did it perform there? Did it work as you mentioned above with an avarage ROI of 15-30% on monthly basis? That sounds awesome.
I am testing in 10 markets, started all of them with the 5 day method, so my restults will be disorted by the losses in the beginning, will see how it will perform.
hello sotdumm,
i am glad to see you started testing it.
yes i tested for 1.5 months to illustrate the system. the result was a monthly growth of around 21%. i started the test on 5 securities thou most of the time i traded 4 securities only and wasnt looking for a new security (out of time issues). around 32% raw profit in 1.5 months but half of that profit was on the securiry gold (xau/usd)
Yes i am testing it atm on a small demo account while im reading back trough this thread. Iām new to forex and just learned about the possibilities 2 weeks ago (and in the mean time the drawbacks 
) The big benefit for me as a naab is that its clear and easy to understand and it makes me familiar with the basics of what you need to know.
So thanks for sharing and as soon as i have some results to show or when i go live with real money ill post it here.
Cheers
Hi TURBONero!
Thanks for the great system. Iām trying it on a demo account right now and so far made $2,600+ profit. Iāve developed an EA based on Steveās indicator to make the trades and change the stop loss automatically. Iām not sure why my previous post got deleted.
hello luffyz,
nice to see you are doing good. i saw your post the other day, when i wanted to answare it was gone. i aswell dont know why it got deleted.
from what i saw you started a account with 50.000 which showed a profit of 2500 in 2 weeks or so? thats some nice results for such a short time. once the bigger moves happened the profit will grow in a even faster pace.
how is the EA performing? is it following the same rules i setted up or did you alternate something (like hours chart instead of daily etc, max risk-%, etc etc?).
the system is fitted very good to be programmed into a EA since it is simple to follow and has a clear set of rules. i hope you will share your ea once it proved that its working efficient.
Gāday Turbo,
Others mightnāt but Iām happy to share the EA I build based on your system. Like the system itās fairly simple. There are only 5 input variables
.
So you have the fast channel, default setting 5. The slow channel default setting 40. Risk is % risk of account balance (unfortunately this wonāt include used margin but then we canāt backtest a basket in MT4). Default at 2%. Next is Risk_Reward. This is the trigger to stop trading fast channels after 3 trades that return less than this ratio and switch back to slow channels. Default is 1 but in the screenshot above I had it set at 0.5 doing some tests. Finally, all EAs need a Magic# to identify each trade. Now for some results and brief discussion.
EURUSD - MARCH 2015 TO MARCH 2017
GBPUSD - MARCH 2015 TO MARCH 2017
USDJPY - MARCH 2015 TO MARCH 2017
So the three most traded majors show potential. But unfortunately the bot has one weakness. Deciding between hot, semi hot markets and cold markets. That, as I identified in an early post is a discretionary decision that needs to be made by the trader. And one I thought would be discussed more on this thread. The secret in using bots is to know when to turn the thing on and when to turn the bloody thing off!
It is nice to see there are folks backtesting this system but the fact is that like any other system, it will only work in the right market phase. Discussion should be focused on why a market was chosen to be traded rather than results. Results will take care of themselves.
Unfortunately, this discussion wonāt involve me. I have another project at hand. But enjoy my gift for those game enough.
High Five v2.2.zip (10.5 KB)
Well done! That was a lot effort. Using the 5 day low and high as risk reference is a great risk management idea. It is tough for the market to clip the 5 day low or high however thatās not the issue, most people donāt know when to close the trade.
As an example, Sterling volatility over the past months so a few heavy rotations, most traders will lack discipline to fight through. Secondly, this strategy requires action, immediately you break the 5 day high or low you must execute. If you fail to execute that is it, the opportunity is gone because in some cases the market moves a few 100 pips on the break and in many cases pulls back a good 80 before moving again. So if you can teach psychology and discipline you have a business the solution is simply most people should just follow a professional, makes more sense. After many years of doing this, it is just too much to ask of a person that is not looking to trade as a career to make a success of it. My personal opinion.
Good to see you back, Emerald!
How are things with the Trading Club?
Say, what happened to GP00053?
Hey Pip, Pretty awesome, so many traders now to imagine it all started right here.
GP fell off the earth but thatās life, changing lives I guess. We are still going strong through good and bad times, last year was great, surprised even myself. 2017 is mixed but I have traded a lot more equties this year I anticipate a good year for the Yen but we shall see.
How are you? Good to see you are still here.
Sorry Bob and Turbo for going off-topic for a momentā¦ and, by the way, a big thank you
to Turbo for his efforts hereā¦ and to Bob for posting all those charts of his own efforts tooā¦
So, Emeraldā¦
On 7th Oct. the āflash crashā (or whatever it was) that sank the Pound produced a margin call
on all my positions, making my FXCM account worthless; I posted a video about it here
Since then, I had several thoughts, and came up with a strategy:
http://forums.babypips.com/forextown/84241-usd-try-incredible-pair-7.html
So I am now at forty-four trades out of an intended one hundred, at which point i
will evaluate what has been working and what has not.
This is all demo stuff but i am treating it like real moneyā¦
I am so pleased for you, it is a success story and I am so happy that other people can hear
this, because it shows that if you have brains you can make something out of trading.
I imagine that you find equities less challenging than forex, or is that completely simplistic?
PS: shame about GP0053, but as you say, it is life.
I presume we are talking about that tail off after he we hit the base at 1.4300. That shocked most people but I had a short bias anyway. However it was a big whipsaw. Touch wood I havenāt been hit by those.
My stops have gotten wider so I look a lot at monthly movements for example this month I am selling Euro and Australian, however I can eat at least 300 - 400 pips of pain in the other direction, in these consolidated markets we can be sure the next trends are still a few months away. So donāt think I can really lose on this one. Whoops! I must not speak to soon.
I am still a stock picker on equities had some great trades last year. AWRE gave me a good 120% return, I am well diversified, CZZ also gave me 3x y investment, I bought it at $2.83, Google what it is trading at now and t think I sold itā¦ Always found equities more manoeuvrable if you are starting a fund, too many stocks out there and no fundamentals at all, currency is a bit loud so at points you have to cut your leverage. Not necessarily easy because stock picking is an art, some stocks just look right, others donāt.
Anyway sorry for dragging this one off topic.
Thanks, Emerald!
Have you made this your full-time occupation or are you still in real estate? You do not have to tell
if it is not appropriate - sorry for being nosey.
Lexys has left the forums, as did PipNRoll a while back: two talented trading women who join
the droves of former BabyPips āgraduatesā leaving these green pagesā¦
I am a father too now, and my baby is eleven months oldā¦ an amazing journey hitherto, I
must admit!
Do you mean equity stocks as in stocks from, say, the S&P500 list or the FTSE 100 one or
the Russell 2000? It sounds like you know what you are picking, which makes you something
of a stock artist
Lol! Thanks on the stock artist jibe. It has been some years we forget how fast time flies I havenāt done much with property for 4-5 years now. Yes, with a very successful business and track, it deserves my full time attention. So yes, it is full time for me.
I am still old school, so I call stocks equities Lol! Congrats! I am a Dad of two, slightly older ones so you have more joy to come especially when they become teenagers. These are the best years you are on, cherish it. As comedian John Bishop would say, āAll the loveliness falls offā.
Firstly, Thanks to Turbo for this system which Iāve recently been demoing.
Can someone please confirm something for me. Apologies if this has been answered before - if it has, I donāt remember seeing it:
One of Turboās rules, in bold type states:
[B]āTo close a trade we use pre-set stop losses only. No matter if the trade is a profiting one or a losing one. It gets closed only through the stop loss mechanic used in this system. -----this is the backbone of this system, if you donāt poses the discipline to stick to this very important rule, it will never work for you.ā[/B]
Iām presuming that in the case of a breakout becoming a trend following a 40 day candle count, there will be a point at which we would take profit? Turbo says: āOnce the breakout has happened (moved above or below the low of the last 40 days) we stay in the market. No matter the outcome of the first tradeā. If the outcome of the trade is that the price continues to move in our favour, it may well keep going and leave our stop loss far behind because there is no daily candle count and adjustment of stop loss in this scenario?
We could therefore stay in the trade for months (if the price continued to go in our favour) but then possibly see the price eventually return to the original mid-point (40 day High/Low) stop loss?
Maybe we should manually trail the stop on a daily basis?
If taking profit is correct, we would afterwards return to the daily 5 day candle count plus entrees and stop losses?
Or have I missed something?