Thanks for info Tomorton, there've obviously been some changes to % rule.
As I have the time, I'm going to check out trades on GBPUSD & possibly EURUSD as well, partly to hedge & possibly to improve profits. I know you did these a while back, & some people even did up to 7 markets a day. I'm thinking perhaps 8 to 10am range on these two. Is anybody trading these with Big Ben system, & if so what sort of results are you getting pse? Thanking you kindly🙂
As I have the time, I'm going to check out trades on GBPUSD & possibly EURUSD as well, partly to hedge & possibly to improve profits. I know you did these a while back, & some people even did up to 7 markets a day. I'm thinking perhaps 8 to 10am range on these two. Is anybody trading these with Big Ben system, & if so what sort of results are you getting pse? Thanking you kindly🙂
splashy
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hi gelly, I've only joined this thread recently and only posted a couple of times thus far but they might interest you. I don't have the figures to hand but the posts weren't long ago and i'm sure you'll find them with the thread tool or just by searching.If you have any questions or better ideas, let me know.
Thank you splashy, your posts very interesting. I'm going to do some research & a bit of backtesting - will report anything interesting of course. Cheers.
I try to not let information (market reports, economic news etc.) get into the BB process, but I occasionally take the weekend FT. As it happens, I don't think that BB should work better or worse in a bull or bear market, but it's possible we can see what has been going on with the recent poor performance of the strategy.
Over the last 2 weeks, the US markets have shown 'growing concerns about the sluggish pace of US recovery. Outperformance by defensive stocks highlighted the market's nervous mood.' This week the US markets turned 'increasingly volatile', still concerned over the recovery that might not be, plus eurozone sovereign debt issues. These concerns and similar rotational activity was reflected in the FTSE100.
The key here is fear - if markets were going consistently upwards, I am sure BB would be working better, not because of the points total being added, but becasue there would be a consensus on direction. At present, there is no consensus - some stocks are going up, some down, sdome ppeople are buying at lows, others are panic-selling. The indices are overall falling, but it's the volatility that's the key, not the total points fall. I'm saying a 500pt FTSE100 uptrend is better for BB than a 1,000pts FTSE100 downtrend. Also, that it's possible some bear markets might be broad consensus-driven and actually a very good platform for BB - but not the FTSE right now.
Also from today's FT, it seems a rescue for Greece is agreed which will not fracture the German banks and government and will not split Greece from the eurozone. This might hail a period of reduced volatility after the weekend............, I hope.
Over the last 2 weeks, the US markets have shown 'growing concerns about the sluggish pace of US recovery. Outperformance by defensive stocks highlighted the market's nervous mood.' This week the US markets turned 'increasingly volatile', still concerned over the recovery that might not be, plus eurozone sovereign debt issues. These concerns and similar rotational activity was reflected in the FTSE100.
The key here is fear - if markets were going consistently upwards, I am sure BB would be working better, not because of the points total being added, but becasue there would be a consensus on direction. At present, there is no consensus - some stocks are going up, some down, sdome ppeople are buying at lows, others are panic-selling. The indices are overall falling, but it's the volatility that's the key, not the total points fall. I'm saying a 500pt FTSE100 uptrend is better for BB than a 1,000pts FTSE100 downtrend. Also, that it's possible some bear markets might be broad consensus-driven and actually a very good platform for BB - but not the FTSE right now.
Also from today's FT, it seems a rescue for Greece is agreed which will not fracture the German banks and government and will not split Greece from the eurozone. This might hail a period of reduced volatility after the weekend............, I hope.
I agree volatility is the problem rather than direction. It seems the same all over. There are a few currency pairs that I've given up on at the moment. On a long time frame one can see direction but over shorter period the volatility requires stops to be placed so far from entry price that my comfort levels are left far behind. I suspect until the Greece situation looks to have some real resolution it will stay this way.
Todays trade. Short @ 5654.8 Stop @ 5665.9 Limit @ 5635.6
Todays trade. Short @ 5654.8 Stop @ 5665.9 Limit @ 5635.6
I would be short the FTSE below 5643 with a target of 5599 or take the profit at the end of the day. Stop should be above 5664.
I will be long the FTSE above 5734 with stops below 5714.
There is still one trade today.....just wait for it !!
