Update : usd/chf and eur/usd were stopped out. usd/jpy is up about 10 pips.
Im on UJā¦ looking gd nowā¦
BE+14 for me
EJ Reached SL: BE+5
As for UC: Closed it as I didnāt like the look of that trade
CHFJPY might be something to look at one it closes in less than 30 mins.
But im heading to fight the zee monsters as im already in a EJ trade.
Least ur +3 pips up and not -3 pips downā¦ 
some other trades will have a nice trend and take you up over +10 pips or more
Opened sell order eur/usd @ 1.2979, sl- 1.3020 @ 5:15 p.m. est 02, july
usd/jpy trade is still going strong
Same on EU.
support line appeared just below th price for eur/usd. Closed at 1.2977. Profit = 2 pips 
Hi,
I personally think that you should give your trades more breathing room so that it wonāt be stopped out that easily. I trade based on daily TF and confirmed trend by looking at 4h TF before I enter into a trade. I usually set my SL @ -100p and let the trade runs for few days. I then look to change my SL at 12am GMT everyday based on Daily chart. If there is not much progress, I would just leave the trade as it is. I also personally think that by adjusting SL to BE+3pips for 30pips move in your direction is a bit too tight. It can be easily stopped out. What my aim is to earn over hundred pips and not just 3-20pips per trade. I would take my profit manually depending on price action after few days in the trade. If I donāt see much progress, I would close my trade, take some profit if possible, then look for better opportunity.
This MM style suits Ilz but it might not suit everyone of us here. We are all unique in our own way so try not to be too rigid. In order to earn more pips, work out your own way of managing your trade. This is just my personal opinion.
Happy trading!
Thanks for your suggestion Jesdan. I just followed the rules and set the SL, just below the SR. I will definitely work on my SL with the next trades. Again thanks for your feedback. Much appreciated.
Update: usd/jpy stopped out for a small profit.
Just a reminder, please make sure you take your risk management into consideration if you were to adjust your SL. I currently only risk 0.5% on each trade.
All my trades didnāt go well yesterdayā¦ they all go against me but still alive so I hope they will go well today.
Here are what my current trades:
3/7/13 Long USD/CHF @ 0.95154, SL 0.94154, currently -60p
3/7/13 Short GBP/USD @ 1.51491, SL 1.53229, currently -135p
3/7/13 Long GBP/JPY @ 152.619, SL 151.119, currently -11p
3/7/13 Short EUR/USD @ 1.29716, SL 1.30716, currently -47p
I took 2 trades this morning,
4/7/13 Short AUD/CAD @ 0.95675, SL 0.96675
4/7/13 Short AUD/NZD @ 1.16897, SL 1.17897
How are everyones trades going? Abrasiveā¦how are your daily trades?
Any updates welcomed.
Just a quick update.
Iām still trading this on the daily charts, so I thought Iād put up my numbers for the month.
The system is simple, non time consuming and can be profitable if you manage your trades properly.
It pretty much keeps you honest and in the right direction, but it is not very exciting (which is ok with me) as you can go days without opening a trade.
This month was an interesting one. It kept me from loosing my shirt on erroneous signals, but kept me in many trades that turned out to be winners.
As it stands now, this months realized profit is a measly + .5%, but the unrealized profit is sitting at + 14%
As can be seen from the screen shot, every open trade is in the green.
I will continue to trade this for another month to see how it goes.
Okā¦ A little premature with the update. I did not expect such a big day to finish up the month.
Unrealized profit now at +23% w/ 1292 pips
Iām a bit late to this thread, but interesting that you should use this for longer swing / almost position-type tradingā¦ I will have to look into that.
Congrats on the results so far!
[QUOTE=ācyanidez;515055ā]Iām a bit late to this thread, but interesting that you should use this for longer swing / almost position-type tradingā¦ I will have to look into that.
Congrats on the results so far!
[/QUOTE]
Thanks
I donāt have the time to keep tabs on multiple pairs every 4hrs, but the strategy is soundā¦ once a day on 1D TF is bearable for me. Its just trend following and entering on breaks of sup/resistance levels painted by the Barry indicator.
Itās just too bad that the original poster is MIA
Hey guys,
Well I really love this thread and this strategy but I felt it would be responsible to code it into an EA and backtest it over the past two years of data. I went over it again and again and itās as close to the way I would have manually traded it as could be possible. Herewith then, the results:
[ul]
[li]Currency pair: GBPUSD
[/li][li]Contracts per trade: 6 micro lots
[/li][li]Start balance: $12,000.00
[/li][li]Final balance: $10,713.12
[/li][li]Total profit/loss: -$1,286.88
[/li][li]Maximal fall of balance: $1,524.18 (12.7%)
[/li][li]Number of trades closed: 172
[/li][li]Number of profit trades: 102 (59.3%)
[/li][li]Number of loss trades: 70 (40.7%)
[/li][li]Average profit per trade: $13.49
[/li][li]Average loss per trade: $38.05
[/li][/ul]
I used the exact rules as stated in the first few posts. I used fixed ratio money management to determine the position size, much like the original poster uses.
All in all, itās disheartening. When I look at the charts with my eyes only, I tend to only see the nice big moves and it seems like it simply has to be profitable, but alas the results donāt lie. Over the past two years on the GBPUSD it made a 10.72% loss!
I am running an optimization on the system now with stuff like moving to break-even after the ATR pips was completed and not just 30 pips, not moving to break-even at all but just moving with S/R levels and so forth. Still, forcing a system into profit over a specific time period was never a good idea, so unfortunately it seems that I will not be trading this strategy anymore.
I would really love to hear from the original poster and perhaps he can shine some light on this. I could have most certainly made a mistake despite trying to be very thorough.
Hope this helps somebody!
Cheers.
Bummerā¦I like this system and am demoāin on the 1 Day timeframe. Shame it doesnāt workā¦
Thanks for the back test, and as you saidā¦ It would be nice to hear from original poster.
Iām assuming you tested it on the 4hr.
The results you posted are very interesting and provide me with some reassuring infoā¦ It shows that it has tremendous success in the win/loss aspect, and that it fails terribly in the risk/reward aspect. Thus providing us with the weak point to resolve.
Iām not a proponent of mechanized systems or systems without a discretionary component. From the trend runner, I only took the trade entry part of the system (the highly successful part), took it to the daily TF and used my own discretionary concept to manage the trades. My average win is bigger than my average loss (the opposite of your backtest results). So far Iām pretty happy with the results.
Moral of the story, make things your own.
1 Like
Abrsive,
Yes, I tested on the H4 chart. In short, I tried to stay 100% true to the original system.
Now itās true, as you said, that there are many good points to this system where it just makes sense in the way it trades. It really is up to ourselves now to take the concepts and make it our own.
If you would keep sharing your results as well, that would be awesome, especially after a couple of months where the stats that you have become a realistic reflection of the cycles of the market.
Cheers.