Yes, the graduation to mostly successful trades on the FTSE100 at 72 refers to the ATR (14-days) value itself. But ATR is not a percentage, so of course other instruments have ATR's with very different values. It would be necessary to calculate each one individually and track perfomance for some time to identify the threshold for that pair.
However, I still do see the BB range as a %age of the current appropriate ATR as helping decide whether to trade that market that day (BB > 80% ATR), or whether to go for a higher profit target (BB < 25% ATR).
Nice steve, like it.
Six positions must only take minutes to set up. And how many indicators do we have to mess with? - none.
Thanks for clarifying.
My results for the last two days.
Mon 1 Nov
FTSE +31 (Closed manually)
GBP/USD -17 (Closed manually)
EUR/USD +49 (TP hit)
USD/CHF +45 (TP hit)
EUR/JPY +34 (TP hit)
NZD/USD -33 (SL hit)
Net +109
Tue 2 Nov
FTSE - No trade
GBP/USD -25 (Closed manually)
EUR/USD +37 (Closed manually). Target was 66, and got up to 54 at one point.
USD/CHF +70 (TP hit)
EUR/JPY +55 (TP hit)
NZD/USD +36 (SL hit)
Net +173
Hi Steve,
Was your NZD/USD yesterday a profit or a loss, because you've put a positive figure and included that in your total of +173 but then you put SL hit?
Do I assume you're trading at 10am, and using the 8am-10am high/low ranges?
Are you factoring in ATR at all and if so where do you get this figure from?
Thanks
For the forex pairs, I've been using the daily high/lows from my SB platform charts to calculate it. Don't know of an alternative, if this isn't ideal.
Thanks, is that for the previous 24 hours? 10am-10am
Hi Steve, Congrats on your FX trades. Just to clarify, do you open OCO orders at 10am ; long above 10am high and short below 8am close?
Many thanks in advance
Yes, OCO orders set at 10am.
- long above 8-10am high
- short below 8-10am low (not close)
I've attached the calculator I've made for it, based on the formulas posted by tomorton and others in this thread. When using this, only add data to the yellow cells on the main calculator sheet, the rest are formulated.
Steve.
george0, how did todays trades go? I had a OK day Monday (I think you managed to get out of some at the right time but i left them run), A good day yesterday and a bad day today. In fact gave all the weeks profits back so i am now neutral for the week (to within less than a point).
I know its not a good idea to set targets explicitly, but i cant help thinking that because this system tends to go off a bit towards the end of the week it might be a good idea to set a target (of say 200 points) and if it is hit by Wed then quit for the week.
george0, how did todays trades go? I had a OK day Monday (I think you managed to get out of some at the right time but i left them run), A good day yesterday and a bad day today. In fact gave all the weeks profits back so i am now neutral for the week (to within less than a point).
Somewhere (middle of the posts i think) is an analysis of wins/losses by day of week for FTSE that tomorton did. It shows Thursday is a pretty poor day. Monday/Tuesday seem to have a higher win rate.Mata Nui - ineterested in your point about BB going off a bit towards the end of the week. Do you (or anyone) have any stats that show how much worse Thur and Fri have been?
Cheers