Live & Die by the sword....

[FetteredChinos]

nice little sell off.. hopefully a full-blown effort tomorrow!! ?

long on futures at 4990


longs: 3@5003
shorts 8@ 4957

closed profit: +75 (yippee)
open profit : (252)

clawed it back nicely.. still confident that we will get a close below 4967 tomorrow.. at which point i will unload the shorts..

slow going still.. pesky summer months..

FX system currently being demoed today... -11 from 3 trades... bad money management caused the 1 loss to be quite costly... must learn from that....

FC

 

[FetteredChinos]

well the sell-off didnt come, quite the opposite in fact

close off long at 5026 for a profit of +69.

took a short on the cash at 5021.



longs: 0
shorts 9@ 4964

closed profit: +144 (fib number lol)
open profit : (549) (holy moly)

not the greatest day in the world.. but at least we bagged some more profit to fund the margin on the shorts lol..

good job i trade small!

looks like a bear week setup IMHO.. tuesday rally early leading to a decline into thursday morning..

we shall see..

FC

 

[FetteredChinos]

to be fair, i did manage to bag 55 points from 6 trades using the BB strategy i tried yesterday..

8 wins from 9 thus far...

might be something in this....

 

[kriesau]

to be fair, i did manage to bag 55 points from 6 trades using the BB strategy i tried yesterday..

8 wins from 9 thus far...

might be something in this....

What's your BB strategy ?

At least this evenings decline in the US markets brought the FTSE futures down to 5011 at the close. I'm also short in this market at 5003 - here's to a down day tomorrow !

 

[FetteredChinos]

hi fella.. BB strategy is essentially trading off 5 min charts...


trade with the longer term trend (ie hourly/30 min charts)

in a bull market, wait for the 5 min price to dip to the lower bolly band.. when RSI is below 30 and then ticks up, we're in business.. bang in a long, and off you go.. exit at your discretion usually at resistance..

does well for scalping trades, and i think i might try it on longer timeframes to reduce the impact of spreads......

bit more forward testing required..

FC

 

[cd173]

Hi FC

Quick question, roughly how long does each trade last and what's you average points gain?
Also which markets have you tried this on??

OK.....a couple of questions then.........

Cheers
C

 

[FetteredChinos]

only tried it on GBP/USD thus far this week.

ave points gain is approx 15-25 per trade.. i trade with a wide stop loss (50 pts), so i need a win rate of >70% really to make it worthwhile.. the high win rate makes the equity curve look smoother.. also allows slightly more aggressive money management and partial martingaling after a loss...

 

[FetteredChinos]

i'll try to post a chart later today with a sample trade, entry and exit..

FC

 

[FetteredChinos]

right, just gone long... screenshot attached..

hourly chart is pointing up..

dipped to lower BB, RSI was below 30 and turned up..

went long at 1.8358.. target is outer bollinger band, which also conincides with resistance..

will post when i close..

FC

 

[cd173]

Hi FC

Cheers for the screenshot. Is the straight blue dotted line along the middle a pivot point??
System seems nice and simple and would no doubt work on other markets.
Might have a gander on the DAX with it.
With regards to stops, have you tried placing it just under the last low bar. So for this trade it would be around the 1.8340 mark or is that a bit on the tight side?!?!?!

BTW what BB settings do you use?

Cheers
C

 

[FetteredChinos]

20,2 on the BB's

as for the dotted blue line, im afraid no, it wasnt a pivot, just the mouse cursor the way it appears on screen. dont read anything into it lol

im still experimenting with stops, but i think fx is a bit too whippy to go under the last bar...

im more into getting systems with a high win rate to try to bag a few points each day..

its all very well saying that profit targets, etc, dont work, nor does counter-trend, but the fact remains, if you are using a trend following system, if for whatever reason you cant take (sickness, holiday etc) one of the "big winners" that is necessary for trend following systems to work, then you are in big doo-doo, and drawdowns get hairy..

will experiment some more with past/future analysis though...

fc

 

[FetteredChinos]

and out at 1.8372 for +14 after spreads...

might look at a quick counter-trend scalp if the RSI holds up.

FC

 

[FetteredChinos]

its always nice when a public trade goes right usually its the kiss of death..lol

 

[FetteredChinos]

took a scalp short at 1.8369.. target 1.8360 or so...

 

[cd173]

Good trade FC

Nice and simple system!
I take it you use 70% for the shorts.
Agree with you on the high win rate. I think it is extremely difficult to bag big moves and I tend to go for systems with consistency rather than big wins!
Think I'll try it on the DAX and ES Mini perhaps.
Keep 'em coming FC

Cheers
C

 

[FetteredChinos]

back to normal matters on the FTSE.

took a long on June futures @ 5015



longs: 1@5015
shorts 9@ 4964

closed profit: +144 (fib number lol)
open profit : (376) (getting there)

well, its nice to be getting back to parity...

shorts will now get unloaded on a close below 4980. hopefully we will get that soon as im bored of holding them

still in this cable short from 1.8369.

at breakeven give or take.. its like eating sticky toffee pudding this afternoon.

FC

 

[FetteredChinos]

well i dont know what i said to GBP/USD but it went potty for 5 mins...


40pt range to shake out some stops..

still sitting at breakeven though... back to square one.. waiting for RSI to fall into the 30's before exiting.

FC

 

[FetteredChinos]

and there we go.. out at 1.8349 for +20..

making +45 from 3 trades today. 3 wins..

11 wins from 12 so far

chart shows entry and exit..

 

[FetteredChinos]

and a long at 1.8350 normal stakes as trading with the trend this time..

RSI has ticked up, and we're on the lower Bollie..

 

[G-Man]

and a long at 1.8350 normal stakes as trading with the trend this time..

RSI has ticked up, and we're on the lower Bollie..

Assume you were stopped out of this one FC, or did you manage to save yourself?

G-Man