20 pips a day keeps stress away

lbranjord said:
Traded today, one winner, one loser, came out 2% higher in my acct. Last two weeks been easy trading, grew by 25% with 2 trades a day. These are not normal results, but it is nice to have my buffer in place in case of a bad series for the second half of march.

Bedsit, maybe you should try out the system I told you about. Historically it's great and the last two weeks it's done better than the backtests. 2 trades a day. You gotta be awake at 1am cst and 7am cst. After that, you can treat it as set and forget, or just check up on the trade from time to time.

It will be like using your own system, since I adapted (aka stole) your idea to make it!

BTW it uses EUR/USD and USD/JPY.

200-400 pips a month, 2 trades a day so spreads will knock off about 60-90 pips of that.

70% strike, in the worst case scenario I could find the last couple years. Good months more like 80%

I realize my pips are not exactly "off the charts" in size, but It's amazing what you can do with consistency!
Click to expand...

What is that system? unless its a super uber secret?
 
Da.DesiTrader said:
What is that system? unless its a super uber secret?
Click to expand...

Ugh...I'm finally doing really well and I'm too scared to give it away publically. I backtested all of 2009 and all of 2010 thus far.

IDK, is there any chance that giving away my system can harm it? Someone please let me know lol.

Anyway, I'm not a total scrooge. PM me and I'll give you it (if you promise not to distribute!)
 
Da.DesiTrader said:
Mr Flibble,

I didnt ask for the 20 pips system, but rather its modified version.
Click to expand...

Yes sorry Desi perhaps I'm the lazy one for not reading properly. Its deleted. But on another note would you share a system that you spent ages on? Perhaps you're better of learning a few techniques from the boards first. There are many types of markets and systems don't adapt well to these. You cannot beat good trading skills.
 
It seems the system is fine again (for the time being) - 4 days in a row and few times more than 20 if one can be bothered to follow the trade.
 
Without extensive backtest, you are standing in the middle of a sweltering desert with no way of knowing how far to go till you find water. Maybe your streak this week real? Maybe it's a mirage, only to find more sand.

Consider this, and backtest at least 1 full year. 3 months can be a fake out, heck, i've even found 1 year can be a fake out. More backtesting=more confidence=more money!

Good luck Bed!
 
Thanks lbranjord.

May be a mirage, but I'm happy with the account's performance.:)
 
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I haven't used the system all the time, but I should think that 4 days success in a row is max for it.
Based on that I would expect it to fail on Monday and may decrease the trade size if I go for it.
All this comes from a painful early days trading experience. I used to increase stakes (after a successful period) and inevitably damage my account a lot. Nowadays wouldn't do that - I'd rather miss a profit than suffer a loss.

PS I read my yesterday's post and could see signs of getting carried away. IMO good to keep balanced view all the time - no desperation and no big headedness.
 
I am trading London Forex Open - takes me a couple of minutes each day and it's profitable - only 6 months results though - however, better than lbranjord dessert - but I like the way he put it and have to agree !

(the only other system I trade is Forex Sniper)

W
 
Is it often the case that breakout strategies may be profitable for a few months or even a year or so then when market sentiment changes the system may turn unprofitable and go through cycles of being unprofitable then profitable once again?
 
This is true and thats why I kinda diversify my trading by trading the London Forex Open and Sniper Forex - If one has a drawdown it is hopeful the other will provide some protection ! Thats my theory anyway !!

W
 
wilczek said:
This is true and thats why I kinda diversify my trading by trading the London Forex Open and Sniper Forex - If one has a drawdown it is hopeful the other will provide some protection ! Thats my theory anyway !!

W
Click to expand...

I typically backtest a year manually and if it looks up and down, i do another year. I even divide my results out by day of the week so i can see what days are killing my system. I've heard FRIDAYS can really skew results, but i have not seen them consistently disrupt any of my systems.

Day of the week has basically had no effect on my stuff, if it does, the next year it's a different day that messes with it. What the hell right?

So don't drive yourself too crazy lol, like i did.
 
I've heard about US summer time change by chance. Came back and checked my laptop. Clever thing - it already put 4 hours difference. So I would guess the range should be adjusted for UK users (1 hour change) and for the US users should stay the same if I'm not mistaken. Also there is soon UK summer time coming (I don't know when - every time I forget about it)

These are observations of an amateur summer time change observer.

It is possible to get an idea about NY opening on Monday by observing price action (that would be interesting - TA in action)

Anyway, the best thing would be if there was a kind soul out there to shed some light on this topic (with some precise data)
 
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bedsit said:
I've heard about US summer time change by chance. Came back and checked my laptop. Clever thing - it already put 6 hours difference. So I would guess the range should be adjusted for UK users (1 hour change) and for the US users should stay the same if I'm not mistaken. Also there is soon UK summer time coming (I don't know when - every time I forget about it)

These are observations of an amateur summer time change observer.

It is possible to get an idea about NY opening on Monday by observing price action (that would be interesting - TA in action)

Anyway, the best thing would be if there was a kind soul out there to shed some light on this topic (with some precise data)
Click to expand...

Well unless i'm mistaken if we're talking about the difference betwixt New York(E.S.T.) and UK (G.M.T.) i make it 4 hours difference till next Sunday when we move to B.S.T. in the UK re-establishing the normal 5 hours difference
 
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Thanks Watsone.
I just checked the laptop - you are right. It's 4 hours difference not 6 (I read it wrongly)
At this moment London time is 12:58 and NY (EST) 8:58
 
5 in a row(y)

PS for UK users this week should be 11:00-13:15

PPS if it doesn't fail tomorrow - that would be a new record for this year.
 
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6 in a row

new record for 2010

Surely must fail tomorrow.

PS just joking - prefer it to stay like this
 
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