Are we meant to be back in the short trade now?
My understanding is no, your not supposed to reenter the trade, but wait for phil or somone with more experience to confirmā¦
Hi Phil. I am very interested in your system and thank you for posting it here. I am trying to manually backtest results but am having trouble getting my ATR value to line up with yours.
Would you mind posting some your Weekly (14) ATR values that you have used so I can try to troubleshoot why my charts numbers are so much different than yours
Thanks 
Iām not Phil, but I definitely wouldnāt get back in the short. The beauty of this system is it only requires one or two trades a week. That way, if price is stuck in a range, you donāt keep losing, you just take your one or two losers and hope that next week a trend begins. If price was stuck in a range all week, you could possibly keep entering trades and losing all week.
Yes, as long as this thread is active Iāll be posting them here every week.
Lavamanās right, we only enter the trades once per week.
I can see lots of ranging weeks on my chart where you would get killed if you kept entering the trades. 
Ok great, I was thinking that but just wanted to confirm.
[QUOTE=Rei;113004]Will you, Phil, be posting your TP targets on this system each week for the forseeable future? I would prefer to use the same TP as everyone else and not the larger value that i get from prorealtime.
I also have the same problem re ATR(14)
i have been taking the trades using phil838ā PT based on his ATR reading. The difference between his and ours on pro realtime is too great & could alter the longterm performance. Therefore unless it is backtested on prorealtime, i think it is better to stick with the tried & tested figures from phil838
Sure, here are a few random ones from this year. These are the values at the close of day on Friday and donāt have the small Sunday candle factored into them. I use the exact number at 00:00GMT on Sunday night on my live trading, but I donāt write that number down in my records so the real value I used will be a few pips (10 or so) less than these.
1/16/09: 888
2/06/09: 803
3/27/09: 678
4/17/09: 672
5/15/09: 508
Thanks Phil
That reminds me, I will create a column in excel sheet to keep track of the ATR~
Phil, I was wondering how you trade multiple systems, especially ones with such wildly different winrates as this one and Nickbās? Do you trade them on separate accounts? It just seems like it would be weird trucking along with Nickbās method while following along behind wiping out Nickb wins with the losers from this method, for example, until the winner hits. Seems also like it would make compounding on each trade tricky, as one method could be racking up losses using the bigger position sizes earned with the wins of the otherā¦or does it all work out the same in the end?
I trade them all on one account and donāt separate them at all.
Whenever I set a pending order for this system or a NickB trade I use 2% of whatever my account balance is at the moment to figure up my position size.
It all evens out in the end. Hereās some numbers to show how it worksā¦
Assuming 2% risk per trade, and an even 67% win-win-lose pattern, this is what 15 NickB trades in a row would get you if you started with $1000.
NickB win 1020
NickB win 1040.4
NickB loss 1019.59
NickB win 1039.98
NickB win 1060.78
NickB loss 1039.57
NickB win 1060.36
NickB win 1081.57
NickB loss 1059.94
NickB win 1081.13
NickB win 1102.76
NickB loss 1080.7
NickB win 1102.32
NickB win 1124.36
NickB loss 1101.87
Assuming 2 NickB trades per week, those 15 trades would take you 7 weeks. So here are 7 weeks worth of Sunday Breakout trades. Iām using 2% risk on these, an even 33% win-loose-loose pattern, and using 5.45 as the R-multiple, since thatās my average R:R ratio for the year.
Breakout win 1109
Breakout loss 1086.82
Breakout loss 1065.08
Breakout win 1181.18
Breakout loss 1157.55
Breakout loss 1134.4
Breakout win 1258.05
So if we traded these two methods separately we would have a total gain of
$359.92 for the 7 week period.
Now lets mix all the trades together, in the order they would have been traded during those 7 weeks.
NickB win 1020
NickB win 1040.4
Breakout win 1153.8
NickB loss 1130.73
NickB win 1153.34
Breakout loss 1130.28
NickB win 1152.88
NickB loss 1129.82
Breakout loss 1107.23
NickB win 1129.37
NickB win 1151.96
Breakout win 1277.52
NickB loss 1251.97
NickB win 1277.01
Breakout loss 1251.47
NickB win 1276.5
NickB loss 1250.97
Breakout loss 1225.95
NickB win 1250.47
NickB win 1275.48
Breakout win 1414.51
NickB loss 1386.22
Here we get $386.22 profit, which is a pretty much the same result. Itās off a little bit because of the compounding differences, but not enough to make a significant difference.
Of course the numbers wouldnāt be so predictable in real life. There will be losing streaks and winning streaks, and not all the breakout trades would be an even 5.45 R-multiple, but you would still get pretty much the same result trading them together on one account as you would separately.
Gotcha, thanks. I was going to work it out in Excel but you saved me the trouble
BUMP!
This system suits those of us here on the east coast of australia. All pending orders set up before 10am monday mornings.
Phil, itās 6-21-09 19:24GMT
is it me or IBFX, I had no new charts anymore since Friday night. I know they made some maintenance and after that the chart is not moving anymore.
My last is 6-19-09 18:00 and thatās it.
Hope you post the numbers tonight for Sunday breakout.
Thanks
Thatās normal. Almost all brokers shut down over the weekend.
The charts will start moving again in a few hours.
Hello allā¦Looks like a simple but effective system and wish everyone all the luck. Thanks for sharing!
Yes, they move again, the hunt is on
This weeks trades are:
Long: 1.6512
Short: 1.6448
The stoploss is 54 pips and the profit target is 245.