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Thanks Hoss, 110% correct.
Toccata
I'm happy for you to watch M1 charts and thank you for the observations, but have a look at the original guidelines and recommendations and try to stay within them please.
Even if all three of those had repainted, they still followed the trend, which means that all three trades made money, even on M1.
I still have no idea why people are so worried about repainting with this strategy?
Point is folks, in the example that Toccata has showed we actually made more money that if we had only made one trade? Just do not be greedy with your first close, keep it relatively tight and let the balance trail.
Obviously this strategy will kill you on M1.
Hence my original recommendation of H4, where repainting is a bonus most of the time.
Can we give the repainting issue a break now please?
Trade the strategy with my rules and watch what it does.If you want to trade it on a time frame shorter than H4, or change my rules, please feel free to do so, but then start a new thread and call the strategy something else!
Suddenly I remember why I moved to private forums and stopped sharing my strategies some three years ago. :-( Oh well, we all learn from our mistakes.
Thanks
WayneHi Wayne,
Nice to see you come back to the non-private forums every now and then, however. I appreciate it.
For what it is worth, attached is a picture of the results of the buy/sell GBP/USD at 8:00pm eastern time for the 2007 period.
1 lot traded with 100K account. Gained $12,746 but had a 62.89% drawdown. Not sure I could watch a 10K account into that kind of drawdown much less a 100K account.
Just followed the original guidelines, no stop loss, 10 pip take profit.
saintmo========================================================
quick question saintmo
im realizing that the biggest drawdowns I get are when the US markets have a vacation day, or over the xmas thru new years holidays, although it always comes back, so in your backtesting, were the larger drawdown days during a vacation or holiday ?
that would explain it as today the brokers are shorting like mad to make up for all the long profits that came shortly before !
also remember, while you speak of 10K and 100K accounts, youre only speaking of ONE LOT that is floating --- not much when measured against the total equity in the account and what the continuous use of the method produces, imo .
really interested, so thnx
mp
mp -- DO THE SYSTEM WORK ?
Im not much for knowing ahead of time, so I simply opened a $5K demo couple days ago and tried the method myself !
I cannot show real time trades because they are clients trades and it would simply be illegal, so realize that Ive only been doing the demo part time as time allows.
kinda looks like them little dots seem ok to me though !
mp
ps --- i had a $230 loss there, but since I use no stop loss thats kinda impossible ---- I hit the wrong button on an open trade and just plain goofed !
========================================================
quick question saintmo
im realizing that the biggest drawdowns I get are when the US markets have a vacation day, or over the xmas thru new years holidays, although it always comes back, so in your backtesting, were the larger drawdown days during a vacation or holiday ?
that would explain it as today the brokers are shorting like mad to make up for all the long profits that came shortly before !
also remember, while you speak of 10K and 100K accounts, youre only speaking of ONE LOT that is floating --- not much when measured against the total equity in the account and what the continuous use of the method produces, imo .
really interested, so thnx
mpI will let you know before the end of the evening. (I didn't save my detail and I am in the process of testing several other systems. But once I get a free platform on one of my computers I will redo this. It takes no time.)
Im not much for knowing ahead of time, so I simply opened a $5K demo couple days ago and tried the method myself !
I cannot show real time trades because they are clients trades and it would simply be illegal, so realize that Ive only been doing the demo part time as time allows.
kinda looks like them little dots seem ok to me though !
mp
ps --- i had a $230 loss there, but since I use no stop loss thats kinda impossible ---- I hit the wrong button on an open trade and just plain goofed !-------------------
mp: hello!
Your results based on which time frame.
Thank you!
Sincerely,
rswamy4449
-------------------
mp: hello!
Your results based on which time frame.
Thank you!
Sincerely,
rswamy4449=============================================
all timeframes -- the smaller amounts would be scalps and the larger amounts are prob the 15 minute.
i guess if im doing it part time, I should have used the H1 or something, but only claimed i was a competent trader --- no where did i say i was intelligent !
mp
Attached is a screenshot for a backtest I did of the "join the dots" system. Eur/Usd, 4 hr, 2007, 30 pip stop loss, .3 lots, TP at various points for test.
The circled areas identify failed trades (stop outs) due to the data points (blue/red dots) repositioning. This series of 4 losses represented the most consecutive losses for 2007 based upon my test. This particular test produced $594 with a 6.42%drawdown on a $10,000 account.
Clearly, there is room for optimization and improvement in the approach I took. This system seems to have merit, but it is also clear that the trend doesn't always protect from losses due to the repaint/repositioning issue.
Please understand that this info is not intended to be deeply profound, merely a presentation of one set of test results.
saintmo
I think the result will be OKt when the market is trending.
im realizing that the biggest drawdowns I get are when the US markets have a vacation day, or over the xmas thru new years holidays, although it always comes back, so in your backtesting, were the larger drawdown days during a vacation or holiday ?
that would explain it as today the brokers are shorting like mad to make up for all the long profits that came shortly before !It would appear not, but I will let you draw your own conclusions.
The following is a list of days when either the buy or the sell trade did not close on the same day that it opened:
Jan. 5,11,12,17,23 & 24th. Trades closed 1 day to 3+ months later than the original trade date.
Feb. 14 closed Feb 19.
March 1,6,7,8,15,16,27th. The March 16th trade never closed (force closed at end of test period).
April 5,10,11,16,19,25th. The longest lasting trade of this group closed June 29th.
May 9,14,21,25th. All during the course of May.
June 5,8,11,14,15,18,20,22,25th. The longest lasting trade closed on Dec 21st. (Clearly this was a difficult month for this system--low volatility).
July 17,20,23rd. All closed during the course of July.
Aug. 2,7,14,20,27th. All closed during the course of August.
Sep. 3 Closed Sep 4th. (US Labor Day).
Oct. 2,15,23,29,31st. The longest lasting trade of this group closed Dec. 5th.
Nov. 5,6,13,19,26th. All closed during the course of November.
Dec. 10, 27th. Dec 27th (Christmas week) closed at stop.
saintmo
Good Work
Hey Kamper,
I have been following this thread since the start & would just like 2 say good work. I really like what you have done here. Its quick & simple. The repaint issues are negligible when you get into higher time frames. I am demo trading with all the indis that you provided. I happen to prefer the 1HR chart with this particular method. If I may ask exactly what is the float for?
Also I hope that any help I may give will be welcomed. MP6140 makes a lot of sense it what he says (although a little long winded
) & I have been reading a lot of what he has been saying.
I have included a chart shot here based on the GBP/JPY 1HR.
I will be around.
Bear-