Learning Cycles For New Traders - page 16
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Posible setup about to met the trading rules in US-JPY. I will test in that pair. Tks.
What rules are you using for this pair?
The EA performs well when backtesting the past four months of 2007. However, backtesting from Jan 2006 - Apr 2007 shows a completely different picture. Notice how equity begins to recover as 2007 approaches. Bactesting was perfromed with default settings.
The EA performs well when backtesting the past four months of 2007. However, backtesting from Jan 2006 - Apr 2007 shows a completely different picture. Notice how equity begins to recover as 2007 approaches. Bactesting was perfromed with default settings.
bluto what are your suggestions.....
maybe an alert for entry only and trhe rest manual
What rules are you using for this pair?
The ones stablished in the first post.
Sounds Like River
Sounds a bit like "The River" method.
Well just proves what I have said all along. This method or similar methods have been traded for years and will continue because generally they work. As the author of the River on TSD, I can say there is way more to it than just buying on the cross and if you don't believe it, try it. You must develope an entire set of rules and this is done through months of trading and testing. Time of day is very important, average daily range and most importantly fibos all play a part of a well thought out, complete method!
Good luck to all traders,
PT
Well just proves what I have said all along. This method or similar methods have been traded for years and will continue because generally they work. As the author of the River on TSD, I can say there is way more to it than just buying on the cross and if you don't believe it, try it. You must develope an entire set of rules and this is done through months of trading and testing. Time of day is very important, average daily range and most importantly fibos all play a part of a well thought out, complete method!
Good luck to all traders,
PTOh, I totally agree!
bluto what are your suggestions..... maybe an alert for entry only and trhe rest manual
I don't really have any at the moment. I would say that you cannot arbitrarily trade every close either above or below the 60MA without further filters to assure the probability of a successful trade. Don't get me wrong...this method is powerful and has a lot of potential. As with a lot of other EA's such as this one that depend on a trending move, you can get beat to hell in the ranging chop.
..... As with a lot of other EA's such as this one that depend on a trending move, you can get beat to hell in the ranging chop......
OK,
Here is what might be the $ 64,000 question but since I'm not afraid to ask, I will!
What are the best filters or indicators out there to help keep you out if the market does start ranging? I know there is no "fail-safe holy grail", but are there any that do a decent job?
Just fishing for ideas!
Thanks!
The EA performs well when backtesting the past four months of 2007. However, backtesting from Jan 2006 - Apr 2007 shows a completely different picture. Notice how equity begins to recover as 2007 approaches. Bactesting was perfromed with default settings.
Have any filters?
THIS SYSTEM OF MINE WORKS, SO READ AHEAD IF YOU WANT TO BE PROFITABLE.GIVES YOU AN EASY 500 PIPS A MONTH. NOT KIDDING.SOUNDS CRAZY?WAIT TILL YOU TRY IT OUT. GOOD LUCK!
Picture example will be posted in a couple of hours.
Set-Up:
At least an account that can withstand 500 pips. A $500 mini account would be great. Open it up, and watch it grow.
1) Open GBP/JPY, H1 Interval
2) 2 Moving Averages
- 60 Linear Wieghted of the high
- 60 Linear Weighted of the low
Entry Rules :
1) When GBP/JPY closes above the 60 Linear of the high, buy.
2) When GBP/JPY closes below the 60 Linear of the low, sell.
Trading Rules :
1) Stop is at the opposite moving average.
ie., if sold(close under the 60 of the low),Stop is the close above the 60 of the high.
2) Trade 2 lots. Breakeven to +10 Pips on both lots when price passed 50 Pips in Your favor. First lot exit is + 75 Pips. Second lot exit is at + 150.
3) If the bar's body that closes past the MA is more than 70 pips high, avoid the trade.
I would really like it if somebody can code and EA for this method. Also, this method needs to better, to reach 1000 pips a month, so we need to try to filter the losses. I am NOT saying this is a bad method...it just needs to be better, you know?
Any questions? I would be happy to answer them.
Again, I am going to post a picture example in a couple of hours.
Dan.How long have you been using this system? Have you been getting 500pips average per month?