Status? - page 2
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
I do both, but I like following the track manually.
One funny thing I found out is that stoploss < 100pips (or whatever) seems useless, and it can even cut profit down for most of systems. Stoploss is a perfect killer if setted < 40pips. Without stoploss, however, I've never lost more than 50 pips of a single trade.
Another funny thing, TakeProfit is also useless, but it can't be a killer like SL. No matter what value you set, the total net profit stay almost the same each year. Looks like a miracle here!
Good luck,
Scorpion
One old discovered thing: Friday and Thursday are the best day for trading, and Monday is the best day for sleeping.
We should choose which day is good to trade, so we can have more chance to win BIG $.
I've conducted an analysis of each weekday's breakout movement in pips. Chart below is the result from Jan 2000 to May 2004.
but it is hard to predict friday movement isn't it, I always died in friday big move :confused:
Does the strategy still make money on Monday? If it does, does it also have big losses? Looking at those factors are what would turn my decion one way or the other. But with just general information I would say lets trade everyday if they on average make money.
Steven
Yes, it does. FXFisherman will be available 24h/day and 5days/week (from 12AM GMT Monday to 10PM GMT Friday). However, some brokers even close before the actual market closes.
Scropion,
The status report in the other thread looks great.
Steven
Questions for scorpion..
-Since the gross loss is big, then about how much is the net profit as of right now? and how is it not a big problem?
-Before you started to work on the backtesting, how did you come up with the numbers 50-100 pips per day? I took 10,000 pips and divided by ~256 days and got about 40pips. I am no complaining at all but where did you get those previous numbers?
-Is the spread counted and if so how much is it? 3 pips? 5 pips?
Take your time to answer them, these are in no way intended to be offensive. If you do not wish to answer any of the questions than you don't have to.
Thank you
Gazuz,
The reasons why that I said that big gross loss is not a big problem, because:
1. All systems perform very well on collecting big moves (mostly g. profit/trade is > 70 pips, even up to 250 pips/trade!). These trades are made intentionally, not by-chance.
2. On avg. each year, 93% of gross losses are between 10pips to 30 pips which are mostly whipsaws. We can kill these whipsaws by developing new, better filters. I'm sure that these kind of filters will only cut gross profit a little bit.
3. The result here is just the first step only, so what's about second one, third one, and etc. If we tweak it right, we can expand profit while cutting losses and spreads.
Btw, previously I backtested with 3 months of data from Dukascopy which was kindly donated by Steven. Thinking 3 months worth is not satisfied, I attempted to backtest 3 years of GainCapital's data, but I found their data has too many gaps.
Good luck,
P.S. I'll come back and continue this post later.
Hi scorpion,
It's really a good news after long time,The backtest result shows a robust system in place.Thanks for the status report.
bhaskar
Scropion,
I just had a thought, why not run one (or more) strategies that makes money now, to pay the bills for furthor devolepment? Don't need a perfect system to make money, just one that makes pips consistantly. In fact 10 a day consistantly is a lot.
Tell me what you think.
Steven