Dumb newbie question. Somewhere was mentioned ATR 14 what is that?
the ATR basically shows the amount of volatility that a stock has over a period of time. some people like to set as a average over 14 day hence ATR 14
oh ok, I found it in my metatrader, average true range right?
OK new to the thread and semi-new to forex.
This seems like it would be an excellent opportunity to get a skype conference together at the time of of the limit order. I am sure Iām on a different time zone than everyone else (MST).
Everyone here, it seems, is using a different analysis of the original plan and tweakin it to their liking.
If anyone is interested in getting a conference together let me know. As I said I am farely new to the market and have only demo traded for about 4 months. I am about to go live in around another month or two but will jump at the opportunity to do so earlier given a situation where I find a system 70% or better. I use FXCM and trade mostly the 15m charts using TL, SSD, 7EMA, 40EMA and 200 EMA, Iām about 65% profitable right now but want something ALOT SIMPLIER!
If you are trading the G/U Breakout Strategy:
About 6 hours from now, the [B]Nationwide Home Price Index[/B] month-over-month figures will be released in Britain. This report is generally classified as [B]high-impact for the GBP pairs.[/B]
The report will be released at [B]2am EDT (06:00 GMT)[/B], at about the time we start looking for a GBP/USD breakout according to our strategy.
[B]If this report proves to be unsettling to the market in any way, it could give a nice kick to our breakout.[/B]
Clint
Well, this morning was just TOO easy.
Did anybody else trade the G/U Breakout?
ofcourse hehe pips all the way
I will post all my backtesting later today but itās looking like a 24/48 strategy and moving stop to break even after 20 with TREVās times are working out best.
Also, more success in ranging markets as per current conditions. I canāt think logically why that would be as trending markets would have more powerful moves but mehā¦
This look okay for today? It ewas triggered almost instantly.
30SL, 5TS.
There may be a small difference as when the high is near the same time the order is placed, I add a little extra buffer.
Strategy Tester: DLVBO
Yep got my 30 pips. That made up for my loss yesterday.
BTW I have only been demoing this (and a few other sytems during my time with forex). Now finally after 2 years I will be going live tomorrow. :eek:
I am going to change my stop loss from 30 to 29. The reason is because after every win I compound my pip value (I use Oanda so am not constrained by lot sizes) and naturally if I win 1 day and then lose the next I tend to lose slightly more than I have won. This should help to re-address the balance.
Mickey.
so that would make the price go up right? Iām still new and learning.
I decided to give this a try so here is my chart. as you can see I bought before the time period was over. Couldnt resist, price was obviously rising
bought at .66411 closed at 66744
Iām still trading demo, not real money yet. a good thing too, have dropped from 50k down to 12kā¦ a leaning experience for sure
!
[B]RESULTS[/B]
I have only run this from March 29th. This is due to daylight saving time changes in the UK/Europe. Remember that more of the profit from these results has come from June 2009 than before.
As before, trading 1 lot, highs and ,lows are worked out between 1900 and 0600 and orders set at 0600GMT.
Also, this is completely automatic and takes no account of S&R, etc.
Method Profit Percentage Link
5TS [B]#1187 [/B]83:17 5TS
10TS [B]#981 [/B]80:20 10TS
15TS [B]#2629 [/B]77:23 15TS
30/30 [B]#3300 [/B]59:41 30/30
24/30 [B]#2760 [/B]52:48 24/30
24/48 [B]#5280 [/B]45:55 24/48
24/48 20BE [B]#2640 [/B]65:35 24/48 move to BE at 20
[B]Conclusion[/B]: I am going to go for the 24:48 strategy.
As you can see, they all make some profit and the ones with less losers (Percentage winning column )all involve trailing stops. However, the trailing stops are choking the trade somewhat.
I can provide June data separately if you want and/or backdate to January once I have made a workaround for the daylight saving time in the Strategy Tester.
i cant get the links to work
sorry, try again.
SanMiguel, good you are back at Trevpick original time frame, now, did you back tested also with his 30min charts or did you find the 1H is better?
Happy Trading
Hi Oskar
Makes no difference. Since we are comparing the high and lows between exact hourly points 1900 to 0600GMT, the high and the lows are the same whether youāre on 1hr charts or less.
Which, BTW, TREV - if you are using this for backtesting, you must use the 1HR charts for the code to work.
You are right, :o
Just looking over all the major pairs it is amazing how Trevpicks system can work in all of them.
How is the EA coming?
Happy Trading
I was trying with a modified āi-sessionā EA to show the Hi Lo over the night-time but somehow it just does not want to get the midnight jump. It stops 30min before midnight and then draws a new square from midnight till 0400.
sanmugal
is there any way of creating something that when the trade moves passed Break even it lock it but instead of a trailing stop we have target were new stops are placed like for example
1st target = Break even
2nd Target= 10 Pips
3 target = 25 pip
4th target = 50 pips
ect. ect.
there is so much that could be done to maximize profits,
So, a kind of stepped trailing stop?
Yeah, could be done. However, at what point would you move to breakeven? When you say 2nd target=10 pips, would you move the stop to 10 pips as soon as it reached 10pips? IMO that would not give it room to breathe.
What about something like:
1st target = 10pips, move to break even
2nd Target= 25 pips, move to 10 pips
3 target = 50pips, move to +25 pips
Just picking numbers randomly here, obviously we could change them in an EA to find the right mixtureā¦
Interestingly for June, the 24/48 method turned out better at 24/45. Maybe the ATR has gone down a bit.