Other fx systems

jbu001 said:
Purchased Snapback FX in late July (£47.00), it is a simple price action system without the use of any indicators. Trading with min.stakes at the moment and it seems to work. The weekly webinar by Alex would seem to be worth the system price. Will post updates if anyone is interested.
John
Click to expand...

I'm interested John, simple is good :)

whats your % hit rate looking like? whats the R/R like?

cheers

Jon
 
stricky1967 said:
I'm interested John, simple is good :)

whats your % hit rate looking like? whats the R/R like?

cheers

Jon
Click to expand...

Still getting to grips with the system, only 4 trades taken so far this month, but hit rate is 50% and Risk/Reward 1:2.
Hope this helps.
John
 
goldfinger777 said:
Cheers Marcus, looks interesting.

I'll check out the webinar.
Click to expand...

No probs, apparently tomorrow's webinar will be more in-depth (2-3 hours) than the weekly ones they give (an hourish) so worth catching it tomorrow if you can. I'll take some notes and maybe screenshots if I can for anyone that misses it but is still interested.

In the meantime probably worth reading the manual to get up to speed in advance: http://www.orderbookfx.com/downloadmanual.aspx
 
thanks for the link marcus. that was a pretty cool webinar. after five hours - gotta go for a beer now. nigel
 
How is your Inside Day trading strategy coming along Rugby Trader?
I'm still grappling with your spreadsheets of past results.
I'll get there in the end.
Cheers,
Ken.
 
kenrawlings said:
How is your Inside Day trading strategy coming along Rugby Trader?
I'm still grappling with your spreadsheets of past results.
I'll get there in the end.
Cheers,
Ken.
Click to expand...

Hi Ken,

Sorry, I meant to reply to your PM.
I've left everything alone during August.
I'll be getting cracking again from next week, so it's where I was before.

I'll be in touch soon.
 
jbu001 said:
Purchased Snapback FX in late July (£47.00), it is a simple price action system without the use of any indicators. Trading with min.stakes at the moment and it seems to work. The weekly webinar by Alex would seem to be worth the system price. Will post updates if anyone is interested.
John
Click to expand...
Any more updates, please John?
 
H5N1 said:
Any more updates, please John?
Click to expand...

Sorry for the delay, August was a quiet month, we were advised to leave the Y and Chf pairs alone because of possible Central Bank intervention, while I managed four trades Two winners and two losers.
September seems to be a better month so far, but I have yet to trade (problems with computer time and getting son ready for Uni.).
Will attempt to keep you up to date.
John
 
surferking said:
Might be worth a look for anyone interested:

Million Dollar Pips live forward test | Birt's EA review
Click to expand...

I've done a little research on the entry and exit prices. It seems to be trading when price deviated outside Bollinger Bands on M1 chart. There's no reason why the strategy wouldn't work on other timeframes other than it would just trade less often.

I've thought about making a very similar EA. Add 25 period Bollinger Bands to your charts, one with standard deviation 2 and one standard deviation 4. Then open trades in the opposite direction when price spikes outside 4SD and close it when it returns within 2SD using the difference between 4SD and 2SD as the Stop Loss.

I believe MDP uses 50 period BB but the probably just gives strong we signals on M1 chart trading. Although the trading is on the M1 chart, technically it's not really scalping because the because the R:R is still around 1:1
 
Hi Surferking
I have received their Reverse Scalping indicator and adjusted the default 30 BB to 50 period. Seems to me give a signal when price go out BB on M1, but not every time, so may be they have more filters
Also after read all I can find about MDP, seems the strategy is not working more due to too much people trading at the same moment. I will be very interested if you find a way to make it work on a M5 chart.
AM
PD. thank you very much for all the info you give today on price action. I find it very interesting, but may be difficult to digest for me. Any way, continue helping this forum with your ideas/experiences, please.



surferking said:
I've done a little research on the entry and exit prices. It seems to be trading when price deviated outside Bollinger Bands on M1 chart. There's no reason why the strategy wouldn't work on other timeframes other than it would just trade less often.

I've thought about making a very similar EA. Add 25 period Bollinger Bands to your charts, one with standard deviation 2 and one standard deviation 4. Then open trades in the opposite direction when price spikes outside 4SD and close it when it returns within 2SD using the difference between 4SD and 2SD as the Stop Loss.

I believe MDP uses 50 period BB but the probably just gives strong we signals on M1 chart trading. Although the trading is on the M1 chart, technically it's not really scalping because the because the R:R is still around 1:1
Click to expand...
 
antonio2010 said:
Hi Surferking
I have received their Reverse Scalping indicator and adjusted the default 30 BB to 50 period. Seems to me give a signal when price go out BB on M1, but not every time, so may be they have more filters
Also after read all I can find about MDP, seems the strategy is not working more due to too much people trading at the same moment. I will be very interested if you find a way to make it work on a M5 chart.
AM
PD. thank you very much for all the info you give today on price action. I find it very interesting, but may be difficult to digest for me. Any way, continue helping this forum with your ideas/experiences, please.
Click to expand...

Cheers Antonio. Try 20 or 25 on the BB settings too, I see good results with that on my quick visual back-tests.

Since seeing it I'm actually going to push this strategy to the front of the queue for EA development because I like it so much. It is so simple and trades around the clock and is self-adjusting to volatility and essentially is an automated version of the principles of "Fail Better' by trader_dante in that it buys/sells right on the tip of price extremes with a high likelihood of reversing within a very narrow entry price and getting out quickly.

I'll PM you and anyone else interested my EA version when done for testing. I've purchased the actual MDP for EU so will also do some tick-data back-testing on that and setup a forward testing account to add a sig link here too.
 
Hi
Thanks for this Surferking, will be great to have the EA. I can help with the backtest also.
First time I read your comments about MDP, I remembered inmediatelly this thread, do you know?
http://www.trade2win.com/boards/forex-net-trap/117754-scalping.html

AM


surferking said:
Cheers Antonio. Try 20 or 25 on the BB settings too, I see good results with that on my quick visual back-tests.

Since seeing it I'm actually going to push this strategy to the front of the queue for EA development because I like it so much. It is so simple and trades around the clock and is self-adjusting to volatility and essentially is an automated version of the principles of "Fail Better' by trader_dante in that it buys/sells right on the tip of price extremes with a high likelihood of reversing within a very narrow entry price and getting out quickly.

I'll PM you and anyone else interested my EA version when done for testing. I've purchased the actual MDP for EU so will also do some tick-data back-testing on that and setup a forward testing account to add a sig link here too.
Click to expand...
 
antonio2010 said:
Hi
Thanks for this Surferking, will be great to have the EA. I can help with the backtest also.
First time I read your comments about MDP, I remembered inmediatelly this thread, do you know?
http://www.trade2win.com/boards/forex-net-trap/117754-scalping.html

AM
Click to expand...

Yes, I remember. It's similar in that it uses Bollinger Bands but I would define scalping as anything with a less than 1:1 R:R, like Kangaroo EA for example. MDP uses 1:1 R:R and extreme price spikes to trade in the opposite direction. Basically add BB with 4 Standard Deviation and trade against price action anytime the live candle touches it. Seems to work well on all time frames but doesn't happen very often, hence the need to automate it.

I like Bollinger Bands for a number of reasons so have them on a chart template to flick on and off as a quick way to see the rolling ATR of the higher timeframe and to gauge stops and targets when entering a trade. It's the same principles as using multiples of ATR to set them but much closer to the price action so easier to visualise and calculate.
 
antonio2010 said:
Hi Surferking
Also after read all I can find about MDP, seems the strategy is not working more due to too much people trading at the same moment. I will be very interested if you find a way to make it work on a M5 chart.
Click to expand...

Apparently the solution to this is to trade 'whole number' lots so you'd need a STP (not spreadbetting) account with SLM or whoever. This way they just pass the winning traders straight through to the market rather than take the opposite side themselves. This way you should get much better results. Seems to be averaging about 1% a day at the mo. I'll get a sig link setup soon to track a demo account on SLM and see how it does with them.
 
You must log in or register to reply here.

Similar threads

C
Richard Hill's News Night Trader System
2
Replies
29
Views
20K
Malta Matylda
M
P
Anyone still trading the 3 Ducks system?
Replies
1
Views
2K
timsk
timsk
N
  • Poll
Ever wondered what tools other traders use?
Replies
10
Views
3K
Neoripley
N
A
LAT London Academy of Trading
Replies
1
Views
3K
options-george
O
N
Arbitrage systems and other black-boxes ..
Replies
1
Views
1K
Directional
Directional
Top