15 pip win
4/5
76 pips
Probably last trade of the week. Markets seem overextended. This week longer time frames worked out.
GJ
Greg
Do you mind sharing your 3 bar Donchian Channel indicator?
Thanks.
Riley
Donchian Channels_middle_line.zip (2.68 KB)
Donchian Channels_middle_line.zip (2.68 KB)
might try one of these. post if they open okay for you.
DonchianChannel-mql-file_AngThFiboLv.zip (1.47 KB)
I use FXCM and Thinkorswim. The donchian channels should be on your platform, sometimes they are listed as price channels. Some platforms don’t have the center line. I sorry but I don’t have access for the code. I know that some of the experts on Babypips can help with the formula for your platform.
Donchian Channels have been around for a long time, but I see them rarely used by Babypips users. I really find them useful. You will also note that this strategy is not one of the more popular one on this forum, but I still find this method successful.
GJ
Pipwolf,
Thanks for helping out! What strategy are you using these days?
GJ
19 pip win
2/2 for the week
EUR/USD
3 hour chart
42 total pips for the week
I’ve been fishing the bigger tides, the 4,3 and 2 hour charts of late with success. Note that this retracement was within a steep slope of a long move.
GJ
Excellent. Please keep up with the live examples. Thank you for the indicator. Will get it plugged in today.
Riley
-26
18
18
4 out of 5 for the week
53 total pips for the week
Last trade, 18 pip win, long on the eur/usd, 2 hour chart
This trade is a good example of why I typically set a target of 15 to 30 pips. This current retracement perhaps shows how overbot the market is at this time. I set my target within the recent highs. The one trade I lost was the gbp/usd
where I had my stop too short for the cable’s movements. I continue to have a higher win percentage on 2 and 4 hour charts, rather than 5 and 15 minute charts.
GJ
34/40
518 wins
+13 pips per win
-32 pips per loss (includes one 82 pip loss)
85% win rate
I have a high win rate but my lost trades average -32 pips. The last 4 losses averaged 22 pips each.
GJ
17 pip win on 2 hour eur/usd
35/41
535 pips total
I ran two contract on this trade but with a conservative target due to the light volume. My stop was 22 pips. I invite any commentary and or suggestion for this method. The downside to this method is the high stop loss than target. The upside is the high win rate. I have moved to longer time frames. This trade sat overnight and went nowhere until a pop up this morning.
GJ
Another trade
36/42 trades
554 total
This market is offering a number of opportunities. I went with two contracts again with a 19 win x 2. Perhaps I should have left one contract with a longer target. This is a 230 minute chart.
GJ
Another trade
-39 pips
36/43 trades
515 total
I was stopped out on this long on a 4 hour chart.
Another trade
28 pips
37 of 44
543 total
Wrap up. This strategy has been successful. Out of 50 trades since June I have a record of 43/50 for a 80% win rate. About 600 pips. I have changed the donchian channel setting to a 30 period but the other settings are the same. I mostly trade the 4, 3, 2 and 1 hour charts with the 2 chart my favorite. I trade the eur/usd. I mostly trade late evening and some early am
.
My typical settings are a 18 pip target with a 20 pip stop. However I look very closely at recent lows and highs for setting entry, stops and target. This is mostly a retracement/bounce back strategy.
Below I have posted my last two trades. The first is on a 3 hour chart and the last is on a 2 hour chart. These are real typical of how I have been trading. A typical week is 4 out of 5 trades. I usually net about 50 pips a week.
I used to trade much more and typical not make money. By trading less with this strategy I have not had a loosing week in three months.
I find very few traders using the RSI and especially the Donchian Channels. But these indicators as basic and dated as they are really work. The RSI at a 5 period is the key. The bounce in the price bars is what makes this strategy work. When I set the right set up I have great confidence in a winning trade.
For now I don’t plan to post my trades unless there is interest. Seems like many traders are searching for the Holy Grail. It is funny, I have found it an nobody is interested. This strategy is not very exciting.
GJ
I still trading the 10/20, it is still a steady winner. This trade is a 14 pip winner on two contracts. I trade mostly the eur/usd now and work to get bread and butter results of 10 to 20 pips.
Greg
Another winner! 11 pips. This a 15 minute chart. This a straight forward strategy. The key is waiting for the correct set up. I missed an early opportunity, but another appeared later in the morning. Three key aspects have improved my trading.
Trading just one currency the eur/usd and just looking for one or two trades a day. The Holy Grail is not the strategy, but rather the discipline it takes to implement a strategy. The third is settng reasonable targets. I find that consistent returns are far better than searching for a “runner” or a “home run trade”. It would be great to hear some feedback but I think this strategy is too basic for any real interest.
Greg
Hi
I found your strategy very interesting.
I have a full day job, so i don’t have many time to stay in front of computer, and your strategy is perfect for my limited time.
I’m lot looking for holy grail too, i just want a system that gives me a consistent profit, like yours.
I have one question, you said the best time frame is 2h, correct, and you trade at late evening. Can you tell me your timezone (or your broker timezone)? My time zone is 0 GMT (London time). Another question: do you think that the time you trade is important, or i can adapt you system to my timezone?
Thanks for sharing.
mhipo,
I like the pre London open and through the London open and the pre New York time period of 7:30 am EST. I monitor the screen as best I can but I don’t worry if I miss a set up, there will be another soon enough. Yes the 2 hour is a great time period, currently I’m trading the 30 and 15 minute charts, and just the EUR/USD. There are low volume ranging times of the of the day that I stay away from. There are good resources on Baby Pips and on the to help find the best time to trade, but I think it could work into your schedue, it is not good to overtrade anyway.
Greg
