Here's another one

[firedave]

in all likelihood, but there are still 5 hours to go til we take our entry, and i have wiped out my account in less time than that

SHOOT ! I forgot it still five hours more

 

[FetteredChinos]

continuing my attempt to wipe out my account in public, we have a long at 1.9085..

but only just!!

target 1.9385 and reverse.

stop 1.8885

onwards and upwards..

FC

 

[ChowClown]

...may the force be with us.....might try for a cheeky 123 15 min, if 9069 breaks.

 

[firedave]

Okay, let the profit rolling

 

[ChowClown]

hmm, targeting 9044 on the 15min 123. Daily chart looks more promising for our weekly trade.

 

[FetteredChinos]

afternoon all.. GDP numbers have given cable a bit of a boost.

currently +50 or so up on the latest trade..

nice to see things working for a change..

 

[norfolk]

Great work!

Hi FC,

First of all, thanks for the thread, and the great work you have put in refining the SIBKIS.

I have followed the original SIBKIS which was good in 2004, but did not stand backtesting beyond that.

One question about your reversal after the profit target is met - where do you set the reverse trade? I assume that you wait for another 20 - 30 pips then set it at the point where you took profit? Do you also put a stop loss of 200 on this?

Sorry in advance if the answer is in the thread, but I can't find it!

Thanks again for taking the trouble to post your work here for others.

Norfolk

 

[FetteredChinos]

erm we reverse at the profit target, no waiting involved.

eg im currently £5 a point long, and have an order in to sell £10 per point at the target level. this has the effect of bagging the profit and then flipping the trade over.

a stop of 200pips would probably do on this, i havent got the spreadsheet with me at the moment, but i think the largest favourable excursion (to borrow a phrase) was about 600-700 pips profit, which occured once in 4 years, and the next was about 480 pips (from memory), so i guess a 200pip stop would do for the reverse trade, and keep you out of any major disasters..

current trade is now +104, which is pretty good going...


FC

 

[norfolk]

Thanks for that - you have answered my question.

I agree with your present gain (within a pip or two).

 

[FetteredChinos]

well, monday morning's action has been kindly so far.. currently sitting approx 170pts to the good.

not sure if we will see the profit target hit this week, but its nice to start the week bagging a profit.....

 

[firedave]

++

well, monday morning's action has been kindly so far.. currently sitting approx 170pts to the good.

not sure if we will see the profit target hit this week, but its nice to start the week bagging a profit.....

Well, cable still rising

 

[FetteredChinos]

good news to a degree chaps..

i have re-tested this system with fresh data from another source, and it seems to corroborate my findings in the original system.

and even better news, is that trading the EUR/USD with similar parameters, but closing on the friday (for best profits) is also a goer.. (approx 35pts per week, but i havent looked into profit targets as yet. weekly ATR would be a good start)

This...

is....

pleasing...

am going to try this on other instruments.

i have a clarinet just begging for it.

 

[trendie]

You'd get more mileage out of stock cymbals.

 

[FetteredChinos]

true. i might be able to snare some points out of them.

 

[trendie]

hope so. will give you a chance to trumpet your success.

 

[FetteredChinos]

now dont go oboe the top. i havent proved anything yet..

 

[FetteredChinos]

right, closed off at +134..

slipped off a bit towards the close.

still that makes 206 from 4 trades. 3 wins...


next trade, 2pm today.

 

[ianp]

Well done FC,

It seems all your research has been very flutefull ..

Ian

 

[FetteredChinos]

well i dont want to blow my own trumpet, but it certainly seems that way.

 

[G-Man]

Carry on this way FC and you'll drum up quite a following.