NEW Never Bef0re 5een F0rex 5y5tem - 1OOO+ P1P5 @ M0nth

[fx4_ever]

After much testing of this method, I have the following suggestions and observations. My testing was only over a 2 year period but I used 5 periods back from 2010. e.g. 2008-2009, 2007-2006 etc. During each period, I tested 3 methods of entry as follows:

 

Original:

 

http://img94.imageshack.us/img94/3245/eg1s.gif

 

Variation: (period high and low)

 

http://img408.imageshack.us/img408/2189/eg2.gif

 

And Native: (first two equivalent bars in either direction after 0600)

 

http://img40.imageshack.us/img40/2116/eg3.gif

 

I found that Native entered too early and using the original system sometimes too late. I also found that the 100 pip target was only reasonable if the 6 hour no trade period was ranging. For this reason, I concentrated on pulling just 50 pips per day as a realistic target. The only other change was the trading period, I draw a line at 1400 broker time and if the qualifying bars do not form before 1400, no trading that day. For examples of this, see Friday trading. I do not trade on Friday anyway.

 

So...

 

My rules as they stand:

 

* Horizontal lines at HIGH and LOW of 6 hour no trade period (00:00-06:00 broker time)

* Vertical line at 14:00 broker time (If no bars form before 14:00, no trade)

* Risk to reward ration of at least 1:2 e.g. stoploss 25 - target 50

* Two candles in same direction over the period high or low and enter

* No Friday trading

 

See attached trading of this method: Period starting 1st Sep 2010

 

http://img839.imageshack.us/img839/3162/today100910developingcl.gif

 

I think that covers it, hope this helps someone!

 

Rgds

RM

Finally! wow.. Someone actually using the strategy and not just download files and move on. It's so refreshing!

Thanks for the illustration. I have very similar results as you've posted. I tried to participate in this method, but most of people too busy downloading rather than learning. I am glad to see your post.

 

My rules as they stand:

 

* Horizontal lines at HIGH and LOW of 6 hour no trade period (00:00-06:00 broker time)

* Vertical line at 14:00 broker time (If no bars form before 14:00, no trade)

* Risk to reward ration of at least 1:2 e.g. stoploss 25 - target 50

* Two candles in same direction over the period high or low and enter - Question: Do you have a rule on long bar? example: if breakout bar is more than xx pips, don't enter or wait until retracement, etc?

* No Friday trading

Edited September 11, 2010 by fx4_ever

[hermes]

Mr. craven I pmed you my email but still don't see any results? Did you forget me?

Thanks anyway, Hermes

[fx4_ever]

Just an observation FX4_ever, the manual says M15, GBP-JPY only... it goes on to say when drawing the trend channel, do not create triangles, parallel lines only. Whilst I can see that you are using EUR-USD H1 and drawing triangles with your trend channel... I cannot dispute your win ratio based on the screen dump you have provided.

 

Good Luck

RM

 

Thank you for your adv.especially about drawing the trend line channel; parallel lines only and not triangles... Good point! I will keep that in mind going forward. :)

[fx4_ever]

Mr. craven I pmed you my email but still don't see any results? Did you forget me?

Thanks anyway, Hermes

 

hermes; look at page 29, you'll see download links. You don't need to PM craven. He already shared the file and post the link many times here.

[fx4_ever]

PMs are no longer necessary, system has been posted numerous times on this thread.

 

craven, I think many people will still PM you for this and you'll be bombarded with pm. Why don't you post the links on your first post? That way, everyone will find the download links on first page and not PM you. That way, you won't be bother going forward. I am updating my first post whenever there is new files and update the first post. That way, everyone gets what they need and the latest files. Just suggestion.

Edited September 11, 2010 by fx4_ever

[john225]

* Horizontal lines at HIGH and LOW of 6 hour no trade period (00:00-06:00 broker time)

* Vertical line at 14:00 broker time (If no bars form before 14:00, no trade)

 

What GMT has the Broker?

[retireme]

GMT+2

 

Rgds

RM

[sequentialb]

So if we are going short for example, you wait for one down 15min bar to close below the low of the "no trade period" followed directly by another red candle close and then you enter the short on the opening of the third candle?

[retireme]

So if we are going short for example, you wait for one down 15min bar to close below the low of the "no trade period" followed directly by another red candle close and then you enter the short on the opening of the third candle?

 

Correct, they are the rules whichever method is used to draw your lines.

[sequentialb]

Correct, they are the rules whichever method is used to draw your lines.

 

Thanks retireme for the reply. Appreciate it. I'm not trying to sound redundant, just want to be sure. In the example I gave of the short, if we get a red candle close through the horizontal line followed by another red bar that is considered invalid, correct? In other words, both of the qualifying candles must be completely below the horizontal line (body and wick) for it to be valid? Thanks again.

[retireme]

Thanks retireme for the reply. Appreciate it. I'm not trying to sound redundant, just want to be sure. In the example I gave of the short, if we get a red candle close through the horizontal line followed by another red bar that is considered invalid, correct? In other words, both of the qualifying candles must be completely below the horizontal line (body and wick) for it to be valid? Thanks again.

 

That is not how I use it, I only want them both to close above/below the line trigger line, I don't care what is happening to the body or wick inside the price channel.

 

http://img14.imageshack.us/img14/1156/eg5.gif

 

btw that graphic returned 108 pips :)

Edited September 12, 2010 by retireme

[retireme]

Hi retireme,

i see your point now. what do you advice gbpusd and eurusd? is a TP 35 and stoploss SL20 too tight

 

James,

 

I had a look at GU & EU pairs and have the following information for you:

 

GU

 

There has been a gradual tightening up between the daily H-L over the last 150 day. WE were running at approx 143 pips but now down to 102 pips in the last week. The average over 150 days is 127 pips, so based on that I would halve it and then add my safety margin. This brings it to TP 50 and using a 1:2 R/R (2R) SL would be 25.

 

EU

 

The same tightening is showing up in the EU pair however over 150 days the average was 150 pips, this has come down to 101 pips with an average over the period of 119 pips. Again the same 2R applied to this average should make it 50TP SL25, remembering that I add / subtract a safet margin of 10 pips.

(e.g. Average Pips / 2 - 10) or (119/2-10)

 

For those that are following other currency pairs:

 

UJ 150 day average is 84

EG 150 day average is 68

AU 150 day average is 105

EJ 150 day average is 137

 

* Note well: I have not tested any of these currencies

 

Hope this helps!

Rgds

RM

Edited September 12, 2010 by retireme
omission of warning

[jamestan1978]

Thanks my concern for GY is the 25pips SL might be too tight for this pair.

[retireme]

I will have a look over a short time frame and get back to you.

 

I assume you mean GU and will try 50:25 (2R) over the last month.

[jamestan1978]

Sorry was referring to GBPJPY pair. Seems need at least 50pips SL else quite risky.

[retireme]

Sorry was referring to GBPJPY pair. Seems need at least 50pips SL else quite risky.

 

Grrrr, I already started and am a week into GU...okay I stop and check out GJ.... back soon!

[retireme]

Sorry was referring to GBPJPY pair. Seems need at least 50pips SL else quite risky.

Test from 9Aug-10Sep 2010

 

*no friday trading

*50 TP

*25 SL

*trigger before 14:00 server time

 

Results

 

11 TP @ 50 pips

12 No qualifiers

2 SL @25

500 pip profit

 

I know it's a short test being only 1 month but I am a little short on time at the moment.

 

Rgds

RM

 

http://img517.imageshack.us/img517/8237/eg6.gif

Edited September 12, 2010 by retireme
added graphic

[jamestan1978]

thanks retireme for doing the backtest. so you use 02:00 to 08:00 on your broker time? as this system is for 0.00 - 06:00 gmt as your broker is +2

[jamestan1978]

just to clarify as the system is using range from 0:00 to 06:00 gmt as your broker is +2 and you are still using 0:00-06:00 gmt broker time

[srpips]

Description:

 

cgi.ebay.co.uk/ws/eBayISAPI.dll?ViewItem&item=220622877484

 

 

How to receive this file:

 

1. Leave me 'Thanks' on this post.

2. PM me your email address.

 

 

Why does it have to be done like this?

 

Reason being, for privacy purposes.

 

 

To the Moderators of this forum:

 

If there is a problem with the way I am conducting this transaction, please let me know and I will cease conduct.

 

 

Hi Craven,

 

Thanks for the system:)

[retireme]

just to clarify as the system is using range from 0:00 to 06:00 gmt as your broker is +2 and you are still using 0:00-06:00 gmt broker time

 

GMT 0 = Broker Time +2

 

Therefore GMT +2 is the start of my No Trade Period

 

So confusing I know!

[jamestan1978]

confusing... so for alpari the no trade period will be 02:00 to 08:00..thanks man! Edited September 13, 2010 by jamestan1978

[retireme]

I don't know the GMT offset for Alpari but I still not sure you understand my No Trade Period.

 

Gmt 0 1 2 3 4 5 6 7 8

Broker 2 3 4 5 6 7 8 9 10

Alpari ?

 

So I have set my No Trade Period at 0:00-0600 on my broker time which is 22:00-04:00 GMT

[jamestan1978]

ah... understand now.... the reason you set that period is due to backtest?

[retireme]

No, I selected that period because it is the tail end of the US session (traditionally slow) and start of the AU and JP (also traditionally slow). The potential for a breakout after his period is much higher, go back and have a look for yourself, you will see what I mean. Of course, we have exceptions to the rule in many ways, sometimes there is a really choppy period within the no trade region and then relatively quiet day for the remainder. I am looking at the best average period and to my mind, this period is better, to someone else this may be different. The indicator in Optimus does not draw boxes on a backtest anyway so I just use vertical lines x 3 (00:00, 06:00 & 14:00), horizontal lines x 2 (period high & period low).

 

Rgds

RM