Copeys Cereal Box

[Mr Flibble]

Now folks I've been plotting and planning these last few months to find the killer strategy. Bessie me old PC has taken quite a hammering I can tell you. I've been backtesting more than an OCD riddled accountant with complusive backtesting disorder. Now after peeing on lots of fireworks out there recently(other peoples systems) I looked myself in the mirror and said..."are you just a firework pee'er on?..come now its time to give rather than just to troll these boards destroying the dreams of others" So here's a starter the title will be "Copey's Cereal Box strategy"

Now why the title? Well Copeys me surname and the cereal box..? Well my CPU overheated on backtesting and I had to modify Bessie (me old pc) with a cereal box made into cpu heatsink funnel. I then burnt a hole in the side of my PC with an old teaspoon and the help of a gas cooker..meh anyways I'm meandering..Now for the strategy.........

:clap: :clap:COPEYS CEREAL BOX :clap: :clap: (self praise is no praise at all) Cough

Market Time frame 30 Mins
Market GBP/USD
ONLY USE ON WEDNESDAY

Make a note of the high and the low of the market between 22:00 -06:00 GMT
Enter the market at between 06:00 and 13:00
LONG if we hit the low first
SHORT if we hit the high first

Now set your Stop loss at 40 pips
and set your Take profit at 40 pips

There you go all done backtest results are:
Winning trades 53
Losing trades 32
Wins (in pips ) +1998
Losses -1328
Max drawdown 150 pips
Worked out on average of 1.5 pips com.

Enjoy---- Disclaimer Your money your choice all opinions are my own.

 

[lbranjord]

Have you gotten anything to work on GBP/USD for Mon-Fri? I've been stumped by that pair for quite some time. GBP/JPY on the other hand...cashcow!

 

[Mr Flibble]

Yes but Monday trading is a different ball game. I have one that works pretty well on every other day. When I reverse the buy signals for Monday it also works a treat. Its basically an anti breakout system. I cannot say too much on here.

 

[lbranjord]

Yes but Monday trading is a different ball game. I have one that works pretty well on every other day. When I reverse the buy signals for Monday it also works a treat. Its basically an anti breakout system. I cannot say too much on here.

Gotcha, cool idea. I'll have to see how the Monday reverse looks with my systems. Weirdly enough though, all my mon-fri performed differently in 2008 than 2009... so I couldn't pick out one day to adjust.

 

[Splitlink]

Yes but Monday trading is a different ball game. I have one that works pretty well on every other day. When I reverse the buy signals for Monday it also works a treat. Its basically an anti breakout system. I cannot say too much on here.

In other words, it's a continuation pattern? Please feel free to speak, we are very discreet around here.

 

[Mr Flibble]

Hi guys. The reason I won't share it is because it has only been trading live for one month. Although the backtests were good as I hid a portion of the data and then upon including the data the results were just as good. I'd rather take the risk on it rather than emptying other peoples wallets.

 

[Splitlink]

Hi guys. The reason I won't share it is because it has only been trading live for one month. Although the backtests were good as I hid a portion of the data and then upon including the data the results were just as good. I'd rather take the risk on it rather than emptying other peoples wallets.

That's different. I thought that you were keeping little secrets.

 

[Mr Flibble]

We have 2 types of price action in my experience. Moves in one direction or moves within a range. Now we need a system that will know whether we are moving in one direction (trending) or range bound. I have a few more systems some are great for range bound plays (more common in the middle part of the week) and some are more suited to trends i.e breakouts with trend.

Now we could use ADX to attempt to tell our strategy whether we are range bound or trending. I'd really like to open a new thread soon and have all our inputs to make the killer system. I would hope that people would offer something to it rather than just take the system at the end.

Here's one line why breakouts often do not prove to be profitable. When we buy a breakout we are buying at a high.

 

[Splitlink]

Therefore, buy on a numerical reversal? I did that this morning. Barely got my money back on two trades, but I did get it back, so can fight another day.

 

[DionysusToast]

Hate to burst yer bubble but this won't work.

 

[DionysusToast]

Now we could use ADX to attempt to tell our strategy whether we are range bound or trending.

This wont work either.

Hope this helps.

 

[N Rothschild]

the fact your modifying your old pc with a cereal box and a gas cooker doesn't really inspire me that your a successful trader

 

[Mr Flibble]

Could you chaps be a bit more specific than it won't work? And roths if you broke into my house and saw my pc would you bother stealing it? The veneer is not important to me its the insides that count.

 

[Mr Flibble]

the fact your modifying your old pc with a cereal box and a gas cooker doesn't really inspire me that your a successful trader

chav alert!!!

 

[DionysusToast]

Could you chaps be a bit more specific than it won't work? And roths if you broke into my house and saw my pc would you bother stealing it? The veneer is not important to me its the insides that count.

The setup won't work as the backtest is over such a small amount of trades as to make it meaningless. We are just seeing randomness, noise, nothing significant.

ADX wont work to keep you out of the chop as you'll be well into the chop before the ADX lowers by which time you'll have become a victim of it. Similarly - when you come out of the chop, you'll miss trades as ADX will tell you that you are still in it.

If you really had an indicator that could tell you in time when you were/weren't in the chop, you'd make a fortune out of it. The squeeze indicator (ketlner channels & bollinger bands) is the most popular out there and that can't do it.

Perhaps a trip to the local library, grail section will yield the answer you are looking at.

 

[N Rothschild]

chav alert!!!

yes im a chav, but hey at least i can afford a new pc!

 

[Mr Flibble]

Thanks for the input guys. Chavs and non chavs are all welcome here. ADX was just an idea I'm more into the the fake out. Volume usually tells you whether a breakout has the legs or not. My PC is new but in an old case. The components were very expensive and I built it myself this is the reason I used the old case. Now If you have any real input then stick around.