First Strike

[Roels Major]

Hi Traders.....

I am interesting to try this method on demo.....

May be we could get some benefit after all....

Here all material about this system and just focus on "First Strike Pluz" method on this thread....

 

http://************/2usmyce

 

http://i600.photobucket.com/albums/tt90/RoelsMajor/FirstStrikeGBP-USD.jpg

 

This method is quite simple and straightforward. Read the following directions a number of times. It

will become clear as you work through a few examples on your own.

 

The most obvious feature of this version of FirstStrike is the fact that the buy/sell distances from the

week's open are adjusted by current volatility-- wider when the markets are volatile, and much closer

when the markets are calmer. Reliability and an increased win/loss ratio is a primary benefit

 

In addition, the “First Profitable Open” exit enables the trade to have a longer potential time frame

which can greatly increase profitability in volatile markets. Since time in a trade is one of the strongest

determinents of profitability, this method has the potential to earn more per trade than a fixed buy/sell

point ORB methodology, such as the original FirstStrike.

 

The ruleset follows....

When you are Flat the market

 

1. Before the market's open on Monday morning at 00:00 CST; you must know what the total

range of the previous week was, (high - low = range) and multiply that figure by .30 to obtain

the values which will determine our entry points for the next week----

(example: EUD/USD: last week's range (Oct. 6-10, 2008) was 527 pips (high:1.3785,

low:1.3258) Now multiply 527 x .30 = 158.1. Round up to get 159 pips. This figure is added

to/subtracted from the open for your entry orders in the next step. .

 

2. After Monday's morning open be ready to buy on a stop at the opening price + the quantity

from step (1). Or, be ready to sell at the price on a stop of the opening price - the quantity from

step (1).

 

3. Now we will determine our position stoploss levels-

Check back to step 1 to find the figure for last week's range. Following the example, the

previous week's range was a total of 527 pips. Multiply 527 x .10 = 52.7. Again, round up to

get 53 pips. If you get long you will place a position stop below the week's open a total of 53

pips (total risk in this example-- 159 + 53= 212) to protect your capital. The risk per trade will

change every week.

 

4. If you are not stopped out-- wait for the open of the next weekly bar, which would be the next

Monday morning at 00:00 CST. (For a short trade, reverse these instructions)

If exiting at the open of the next week would result in a profit, exit the market. If not, continue

holding until a succeeding week's opening price is profitable or you get stopped out for a loss. It

is possible, but not very likely, to be in a trade for a number of weeks after entry.

 

5. Keep monitoring and placing your current buy and sell prices for each week. Your new buy or

sell orders for the week, under some rare circumstances; may be closer than a protective stop

loss order for an existing position put on the week earlier that hasn't exited profitably yet.

 

6. This is good. You can save money by exiting and reversing position at the closer price. If you

get out on the week's open at a profit from a previous long or short position, make sure your

buy and/or sell orders are ready to be entered or placed in the market for execution for the next

week..

 

 

 

28 November 2010

 

Wellcome to every coder here

Need help to produce open orders EA (OCO rules) based on Reyna Indicator.

 

http://www.multiupload.com/SJNN0LX2SQ

 

http://i630.photobucket.com/albums/uu24/cubicrey/FSPind.png

 

Thank U

 

 

 

*Note : No Longer using Non-OCO and revision Rules..Back to Original method...

Except for this :

4. If you are not stopped out-- wait for the open of the next weekly bar, which would be the next

Monday morning at 00:00 CST. (For a short trade, reverse these instructions)

If exiting at the open of the next week would result in a profit, exit the market. If not, continue

holding until a succeeding week's opening price is profitable or you get stopped out for a loss. It

is possible, but not very likely, to be in a trade for a number of weeks after entry.

 

"I prefer myself to exit all trade on next Monday morning at 00:00 CST" (or Broker Opening ).

Edited April 24, 2011 by Roels Major
Add what you need to add....

[cubicrey]

Hi Roels Major,

 

I'm interested too. Which one you r going to test, with Plus or without Plus. I'm a bit confuse about the time of opening a trade mentioned in the manual, the 00:00 CST now is equivalent to 06:00GMT, I'm using mt4 platform, most of the broker is started before 06:00, will you take the open price at 06:00 GMT or just simply follow the Brokers' opening time?

 

Regards

 

R

[Roels Major]

I think this one on this thread is a First Strike Plus coz we exit will be on the "next monday".....

Oh...I got the headache Cuby......

But le me think first....

Better we simply follow the Brokers' opening time....

 

The Start and The Finish Analogue :

http://i600.photobucket.com/albums/tt90/RoelsMajor/TheStartandTheFinish.jpg

 

Did i said the right thing?

Correct me if i am wrong....he..he...

Edited November 14, 2010 by Roels Major

[cubicrey]

I think this one on this thread is a First Strike Plus coz we exit will be on the "next monday".....

Oh...I got the headache Cuby......

But le me think first....

Better we simply follow the Brokers' opening time....

 

Hi Roels Major,

 

The FirstStrike indicator come with your rar file is follow the broker's opening time, ok lets just follow Broker't opening time. :)

 

Cheers

 

R

[Roels Major]

Hi Roels Major,

 

The FirstStrike indicator come with your rar file is follow the broker's opening time, ok lets just follow Broker't opening time. :)

 

Cheers

 

R

 

Ha..ha..ha..I think i will always lose....on the Speedy Internet Connection Limited.......

Oho...I got the second headache....

[cubicrey]

Hi Roels Major,

 

May I know which broker U r using, FXPro giving the followings data for GBP/USD pair

 

 

W_Hi_Pre 1.62989

W_Lo_Pre 1.59606

Range 0.03383

30% Range 0.01015

10% Range 0.00338

 

Monday O/P 1.61957 (2010 Nov 08)

 

2010 Nov 8~12

==========

Buy Stop 1.62972

SL_Sell 1.62295

SL_Buy 1.61619

Sell Stop 1.60942

 

 

 

Cheers

 

R

Edited November 14, 2010 by cubicrey

[Roels Major]

For more information follow this link :

http://tinyurl.com/35fvu2n

 

About the money management and pair that used in this method dont ask me....Ask Joel Rensink....

I prefer try to use in 3 Major pair (GBP-USD, EUR-USD and USD-JPY)....

My preference 3% equity and continues...

Of course we have to suffer drawdown...and this made me feel headache again.....

[Roels Major]

Hi Roels Major,

 

May I know which broker U r using, FXPro giving the followings data for GBP/USD pair

 

 

W_Hi_Pre 1.62989

W_Lo_Pre 1.59606

Range 0.03383

30% Range 0.01015

10% Range 0.00338

 

Monday O/P 1.61957 (2010 Nov 08)

 

2010 Nov 8~12

==========

Buy Stop 1.62972

SL_Sell 1.62295

SL_Buy 1.61619

Sell Stop 1.60942

 

 

 

Cheers

 

R

 

Alpari NZ-Limited

[Roels Major]

And I put the Indies on H1 TF....if u switch to another TF like H4, or Daily, or Weekly, it will give u slightly different prices...you will find the gap range between 5-7 pips.....

[hermanhess]

Guys dont trade this on a live a/c. Mr. Resnik had a blog where he was updating his results and many members found their results differed from his so he said he had another mystrey /secret method thats why the difference but he suddenly stopped updating in dec 2009 and then afer a long absence he suddenly updated in sept 2010 claiming 2000% increase. At ff one of the members tested the system with tick level data and found it to be unprofitable. He started a thread at ff and brought it to everyone's attention and all those who participated in the thread pm'd Mr. Resnik and asked him to participate in the thread but he never replied or showed up in the thread. Also he is a system seller. He is also the creator of the vegas tunnel method which no longer works. On his website its more an advertisement for his systems and consultation.

 

I don't know if it works or not but please first test thoroughly on demo this is just fyi and read the ff thread if possible by the member tdion who claims to have thoroughly tested the system and found it to be unprofitable.

[cubicrey]

Hi hermanhess,

 

Thanks for your advice, appreciate it. :)

 

===================================

 

Hi Roels Major,

 

There is one thing which I can not find from the manual, when we got stopped out with loss, shall we trigger a new trade within the same week when the market hit again the Buy or Sell Stop level?

 

Today homealone, making a brand new FirstStrike_Plus indicator with the historical lines shown for previous weeks and I added the output of each levels inside the "data window" which is ready for those who are interested to create an EA with this indicator.

http://i630.photobucket.com/albums/uu24/cubicrey/FSPind.png

 

http://www.multiupload.com/SJNN0LX2SQ

 

Cheers

 

R

[Roels Major]

 

===================================

 

Hi Roels Major,

 

There is one thing which I can not find from the manual, when we got stopped out with loss, shall we trigger a new trade within the same week when the market hit again the Buy or Sell Stop level?

Cheers

 

R

 

 

I think that we should trigger a new one.....

But it must be a reversing one.....Do you agree?

This is the example : Pair USD-JPY TF 1H

 

http://i600.photobucket.com/albums/tt90/RoelsMajor/Analogue.jpg

Edited November 14, 2010 by Roels Major

[Roels Major]

 

===================================

 

Today homealone, making a brand new FirstStrike_Plus indicator with the historical lines shown for previous weeks and I added the output of each levels inside the "data window" which is ready for those who are interested to create an EA with this indicator.

http://i630.photobucket.com/albums/uu24/cubicrey/FSPind.png

Cheers

 

R

 

This is Great Scott.!!!!...........(from back to the future)

Edited November 14, 2010 by Roels Major

[Roels Major]

So I think will gonna reduce to 1% for three pair (total 3 %)......with start equity $5000...of course just in demo....Maxs Leverage in demo 1:100.....

In the real deal my broker needs $200 for 1 lot.....leverage 1:500

If I reduce leverage to 1:400 they need $250....am i wright? I am not so good at this mathemathics...i could not simply understand about money management all people talking about....(please if u you have time read : Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets is a book written by Nassim Nicholas Taleb)

So i would gonna open 1% at $50 lot = .........0.25 lot.....$2.5 per pip. Leverage 1:500.

 

EU 240 pips so far.....

http://i600.photobucket.com/albums/tt90/RoelsMajor/EUweek2nov.jpg

Edited November 14, 2010 by Roels Major

[Roels Major]

Market Open

After 1 bar.....1 hour...

[crushbeat]

hello guys...

 

i dont know bout this system.. trying rite now.. seems good in imagination.. hehe..

 

do u guys have EA to open OCO?? so it would really help a lot.

 

thanks

[Roels Major]

One Cancel Other EA.....

Is good to see if someone here make this sistem full automatize....

 

Week Start 15 November 2010

GBP-USD

Weekly Open Price : 16125

Buy Stop : 1.6203 S/L : 1.6099

Sell Stop : 1.6047 S/L : 1.6151

 

EUR-USD

Weekly Open Price : 1.3683

Buy Stop : 1.3836 S/L : 1.3632

Sell Stop : 1.3530 S/L : 1.3734

 

USD-JPY

Weekly Open Price : 82.492

Buy Stop : 83.168 S/L : 82.266

Sell Stop : 81.815 S/L : 82.717

 

http://i600.photobucket.com/albums/tt90/RoelsMajor/Testweek3nov2010.jpg

Edited November 15, 2010 by Roels Major

[Roels Major]

GBP-USD triggered.......

 

http://i600.photobucket.com/albums/tt90/RoelsMajor/TrigeredtradeGBP-USD.jpg

[Roels Major]

I have this information on general contract spesification information on my broker (Alpari-NZ Limited) :

 

 

If you are attempting to modify open positions, by opening or closing positions on currency pairs (Forex) on a classic.mt4 account within an hour of the close of the trading session on a Friday, then the leverage on the account will be set at 1:100 for all opened and reopened positions on currency pairs. Before the open of the next trading session, the leverage will be reset to correspond with your trading volume.

 

What is it means?

Could someone tell me the effect of trading position opened in this method on Friday (one hour before market closed)?

 

Thanks

[bluewoof]

FSP orders for week starting Nov. 15 from the author newsletter.

 

FirstStrike Plus orders for the week starting Nov. 15, 2010---

based on the opening prices @ 00:00 CST/ 01:00 EST.

 

The Buy/Sell distances are obtained from the instructions contained in the PDF available here:

http://www.4shared.com/file/141270971/29dc51d8/FirstStrikePlus.html

 

-----

 

eur/usd: 1.3674 OPEN - exit short from 1.3827

BUY 1.3794, stop 1.3634.

SELL 1.3554, stop 1.3714.

(NOTE: 160 pip risk)

 

gbp/jpy: 133.37 OPEN - Currently flat

BUY 134.49, stop 133.00.

SELL 132.25, stop 133.74.

(NOTE: 150 pip risk)

 

gbp/usd: 1.6119 OPEN - Currently flat

BUY 1.6189, stop 1.6096.

SELL 1.6049, stop 1.6142.

(NOTE: 93 pip risk)

 

usd/chf: .9814 OPEN - exit long from .9781

BUY .9882, stop .9792.

SELL .9747, stop .9837.

(NOTE: 90 pip risk)

 

usd/jpy: 82.75 OPEN - Currently flat

BUY 83.43, stop 82.52.

SELL 82.07, stop 82.98.

(NOTE: 90 pip risk)

 

When one of the buy or sell orders is filled on a currency pair, I cancel the other order. Any trade not stopped out before Friday-- exit Monday 00:00 CST if profitable.

[Roels Major]

Guys dont trade this on a live a/c. Mr. Resnik had a blog where he was updating his results and many members found their results differed from his so he said he had another mystrey /secret method thats why the difference but he suddenly stopped updating in dec 2009 and then afer a long absence he suddenly updated in sept 2010 claiming 2000% increase. At ff one of the members tested the system with tick level data and found it to be unprofitable. He started a thread at ff and brought it to everyone's attention and all those who participated in the thread pm'd Mr. Resnik and asked him to participate in the thread but he never replied or showed up in the thread. Also he is a system seller. He is also the creator of the vegas tunnel method which no longer works. On his website its more an advertisement for his systems and consultation.

 

I don't know if it works or not but please first test thoroughly on demo this is just fyi and read the ff thread if possible by the member tdion who claims to have thoroughly tested the system and found it to be unprofitable.

 

Whois on infiniteyield.com:

 

Registrant:

Archimedes Investments

Rensink, Joel

2308 E. 42nd St.

Minneapolis, Minnesota 55406

US

[Roels Major]

Update SELASA...........

http://i600.photobucket.com/albums/tt90/RoelsMajor/ProgressSelasa.jpg

[Roels Major]

Last update on his Blog :

Thursday, September 23, 2010

Now--- 2090 % increase since December 2007

 

A hearty hello to the most determined traders I've ever known.

 

I have no doubt that some of you thought I would never post again.

I've been busy trading, traveling to Chicago and other cities for consulting with hedge funds..., but mostly trading.

 

Because of the tremendous move in silver over the last month – we have again hit new equity highs. The Challenge account shows a 2090 % increase since December 2007 when I started the blog and the account with just $500. This is equivalent to a 761% annual average return.

 

Pretty incredible, but I still expect some hard, negative equity swings in the future. When silver dropped to $14.66 last February the account dropped to around $4300 – and I began to believe that I might have to dump some if it dropped another dollar. It didn't.

 

The Challenge Account 1000 oz. silver position has been a lifesaver over the last year. It definitely helps that silver has climbed over $21.00/oz. Now it seems that all you hear on the financial news networks is that gold and silver are being recommended by this bank or that analyst – if I didn't know that silver had a much larger distance to go long term..., I would be inclined to exit some just because of contrary opinion reasons.

 

And there has been a definite change in the attitude of the voting public about the”change” that has come to Washington. Not many are happy about – no jobs – lower prices for their homes – tough to get credit.

 

Don't expect too much REAL “change” in the near future.

 

Things might “appear” better soon – if just because people get tired of being afraid and start doing things, starting up more business, and because the banks will finally figure out a way to liberate (lend out) the Trillions of dollars put into their coffers.

 

Banks hate to have capital that is only making ½ % a year - lending it back to the same guys who gave it to them (who thought that up?).

Eventually people will begin to forget the recent financial unpleasantness just like they forgot the “Savings & Loan Crisis” of the late '80's. Some of the younger (and not so young) readers will be saying, “What was that?”

 

It can't be soon enough for me.

 

The forex markets have been very choppy.

 

I don't need to hammer that point too hard for those of you trading FirstStrike and One Night Stand along with me. ONS has done a little better overall than FS but that is what happens ever so many years. Trading systems go into drawdowns and we have to wait patiently until things get exciting again.

 

Maybe that will be soon.

 

This last year was very good to me, trading-wise.

 

I've had the move in silver, of course, but had great moves (some of them historic!) in wheat, corn, cotton, coffee and sugar. These markets made me 4 times what silver and the currencies did.

 

I've made no secret of the fact that I believe forex trading is a great place to start trading and learn to trade properly with a small amount of capital. After you get competent, it is ridiculous to miss the huge moves that are possible in the other derivative arena, the futures markets.

 

This week we have a few decent FirstStrike trades working.

 

Week of Sept. 20, 2010---FirststrikePlus trade executions:

eur/usd: Long @ 1.3183, currently profitable

gbp/jpy: Short @ 132.06, currently w/small loss

gbp/usd: Short @1.5557, stopped at 1.5709

usd/chf: Short @1.0042, currently profitable

usd/jpy: Short @ 84.77, currently profitable

 

(Current XAG price: $21.16– 1000 unit position average: $12.59)

TOTAL Equity: $ 10,966.54

 

-----

Congratulations to all of you who have stuck to their trading and weathered the drawdowns that inevitably show up when you trade a long-term plan.

 

I know that feeling too.

 

Looking forward to more updates.

Joel Rensink

xxx.infiniteyield.com

 

Okay....we are looking forward to more updates too.........

[Roels Major]

Oct 6, 2010 1:37am

by cosgrove, Member on another forum.....

 

Just got an email from Joel advertising an all-day workshop in Las Vegas in two weeks time. It included plugs for DIBS, London Squeeze, and a system that sounds like silver-only. Price is $997.

 

System seller? Trader? Probably both. Nothing wrong with that.

 

.....But just thought I would mention that Joel quoted former president Ronald Reagan in the TradersWorld expo talk for this exact purpose: "Trust, but verify."

 

It's just like a diary book....

What is your opinion about that?

[cubicrey]

Hi Roels Major,

 

According to the newsletter posted by bluewoof - post #20

When one of the buy or sell orders is filled on a currency pair, I cancel the other order. Any trade not stopped out before Friday-- exit Monday 00:00 CST if profitable.

 

That meant when we are stopped out by hitting the Stop Loss, there will be no trade within the same week, otherwise the OCO is not applicable.

 

correct me if I'm wrong

 

Regards

 

R