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Posted

tradernc,

 

DominoFx's testing was thorough and confirms what I saw when I looked at a handful of example trades - i.e. that the system doesn't work now even if it did great a year and half ago.

 

Bear in mind that the manual was written in early 2009 and contains trade examples only from January 2009 and market conditions change from month to month and from year to year.

 

I'd be very concerned about trading live any system which has had a losing month going back in history, however this system appears to have potential for several losing months even in current market conditions. Maybe it will be net profitable over a year - but who's willing to wait that long to see if a system works or not?

Posted

Originally Posted by superfx

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Choose a host.

Kudos to my friend Cazador who had the hard work of posting links.

Gracias Caza

Posted
Originally Posted by superfx

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depositfiles.com/en/files/qd9nztutl

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sharingmatrix.com/file/9544215

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ifile.it/yzwd4ap/0pt1mu5Channe1_0.zip

ugotfile.com/file/1661175/0pt1mu5Channe1_0.zip

 

 

Choose a host.

Kudos to my friend Cazador who had the hard work of posting links.

Gracias Caza

 

thanks a lot, but thanks must be given to the Cazador.

 

"Amazing how some will only read about the latest message from the threads"

Guys, let's read all post. Them are most of your doubts

Posted

ian2002,

 

Subscribe to this thread:

 

http://indo-investasi.com/showthread.php/7963-Strategy-that-could-become-millionaires

 

It appears that superfx may be able to answer your question very soon.

Posted

LOL, that includes you too!!! :))

 

thanks a lot, but thanks must be given to the Cazador.

 

"Amazing how some will only read about the latest message from the threads"

Guys, let's read all post. Them are most of your doubts

Posted
Your test for June and July was based on Alpari UK GMT+2 offset, which is incorrect. Due to summer time it should be GMT+1. So your test is not 100% accurate and you may consider to run it again before jumping into conclusions.

 

NO. You are wrong. This is what Alpari customer service says:

The GMT offset for Alpari UK in the Summer is GMT+2 (or BST+1).

The GMT offset for Alpari UK in the Winter is GMT+1.

 

Source:

Posted
Impressive work

Would you suggest it could be modified for successful trading ?

 

Thanks.

 

The modifications I found during the test are listed at the start of the document. Unfortunately, none of them makes this system a clear winner. I put this strategy in the recycle bin.

Guest phreak
Posted (edited)
NO. You are wrong. This is what Alpari customer service says:

 

 

Source:

 

Sorry about that, DominoFX. I also checked Alpari UK FAQ and I can admit you are absolutely right about how Alpari UK comment on that: 'the time zone of our servers is always Central European Time (CET) or London time +1. In other words, the platform GMT offset is GMT+1, or GMT+2 when Daylight Saving Time is in effect.'

 

Their explanation is correct, but at the same time very confusing for traders. What it means is that Alpari UK change their server time to summer time (many other brokers don't), and the time difference between London time and Alpari UK server time is +1 hour all year round. GMT does not switch to summer time, but London does, so technically in summer the time in London is GMT+1. Here the confusion starts: for purposes of trading we don't care about GMT time - what is important to us is London time (for example London open will always be 8 am London time, no matter if it's summer or winter). In other words GMT offset for trading purposes is the time difference between current London time (which may be summer or winter time) and the time of your broker, which is always London time +1 in case of Alpari UK. I hope I haven't made it too complicated, but considering all this your tests should be done with GMT+1 offset, no matter if it's summer or winter if you use Alpari UK.

 

Another example: my broker is GoMarkets: their GMT offset is GMT+2 all year round - they don't switch to summer time. But London does! So if, say, I use an expert advisor, which should start trading at London open (8 am), I will have to change GMT offset in EA settings from GMT+2 to GMT+1 when summer time starts. Do you see my point? Summer time issues are extremely confusing, so please let me know if I was clear enough. Thanks.

Edited by phreak
Posted

phreak, I understand it. I know that many people in the Forex world (including system developers) consider GMT and London Time the same, but it is not, because of the Daylight Summer Time. I agree that sometimes it is confusing.

 

Regarding this system, during the manual testing it looked like to me that the time session we use to draw the channel is not too important. There is either a channel in the Asian session, or the channel cannot be drawn. If there is a channel, then sometimes it started earlier than the session, other times the channel was either prolonged after the session or broken before the end of it etc. So I don't think that changing the time of the session would made this system a winner. But if somebody thinks it otherways, he/she can test it as I did.

  • 5 weeks later...
Posted

Thanks Craven. It is sad to see your thread turn into a whipping post for the thick skulled. It quickly becomes obvious who is in this to earn and who is in this to learn. The former never doing either.

SoundFX says it so well in post #260. Thanks Again, this time for the Jerry Springer Forex Show!

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