FXiGoR DYNAMIC Breakout system on Daily Average Range - page 2
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
forgive me if this is a stupid question, but
what is 18.00cet?:p
1800 Cet
18.00 CET means 6 PM Central European Time. CET = GMT + 1 hr
Comment
This is quite possibly one of the simplest and easily understood systems I have come across in this forum. Well done Igor.
I also feel it's one of the easiest to code, put in an EA and back test to give some idea of profitability. (Of course, nothing beats forward testing.)
18.00 CET means 6 PM Central European Time. CET = GMT + 1 hr
thanks mate
Igor,
You assume that a currency will move in a linear fassion up or down ???
ie - you assume that it will exhaust its up range of x and go down...that is like picking tops and bottoms..........
You know very well the crazy currency movements!!!
I dont think that this approach will be successful in the long run.
And to some extent you contradict your FXIGOR approach with this approach, so with all due respect I am a confused by your FXIGOR approach and this one.
forgive me if this is a stupid question, but what is 18.00cet?:p
During summetime it is GMT + 2
During wintertime it is GMT +1
So at this moment it is GMT+2
regards....iGoR
Igor,
You assume that a currency will move in a linear fassion up or down ???
ie - you assume that it will exhaust its up range of x and go down...that is like picking tops and bottoms..........
You know very well the crazy currency movements!!!
I dont think that this approach will be successful in the long run.
And to some extent you contradict your FXIGOR approach with this approach, so with all due respect I am a confused by your FXIGOR approach and this one.The idea behind this system is absolutly not what you say...on the contrary
As I wrote in the 1st posting, we work with an AVERAGE daily range(this is not the same as ATR). If price moved or managed to cross HALF of the daily range, on an AVERAGE DAY more lickely it will continue that way till it finished the next half of that AVERAGE daily range.
The rule with the trailingstop of HALF of the daily range can protect us if it is not shure were the next half will be placed (above the 1ste half or bellow the first half) And also will protect us if we have strong reversall days (like fryday 29-09-06).
Last fryday was a nice example of a strong reversall (toworths the end of the US session) and still we mananged to get away with a profit on all 3 majors)
Most of the trading will lead to some sort of a breakeven situation. About 5% of the trades or postions will lead to an overall profit (as with 99% of the trading systems).
You will see that you will have some small losses and some small profits and now and then a bigger loss and also a bigger profit. The result of that will be breakeven. BUT when we have a big trending day that will be the cherry on our cake. Look to your daily chart and you will see bars that are twice the average size of a bar...
Cable showed a nice trend on thursday and indeed we took 109pips on that pair.
If you expect nearly every day profit then indeed this system is not your cup of tea...(but also here 99% of the systems want give you that)...
Try to see like this: Why is the casino on pair or unpair or red or black over a LONGER period of time the winner ?...because they have that little odd in their favour with the ZERO because then al bets go to the casino.
Here it is the same, the odds are in our favour on the big trending day were we are shure to take money from the market...all the rest is a 50/50 result or situation....
regards...iGoR
Igor, I would like to say thank you for your contribution. It makes sense and after looking on data for a few weeks back it really looks like it has longterm potential.
I enjoyed every system you have put together since that colourful Pluto stuff
Keep up the good work and Many pips to You!!!
bluefish
I have some good news!...
I managed to program this "average daily range value" into metastock into an indicator that goes back in historie (the shape of the indicator looks like the ATR indicator with parameter 1 but offcourse the values are different). So that means that one can do backtesting with it.
I gonna ask Ogeima if he can do the same for this indicator in MT4.0.
Only the top and bottoms were we will use the trailing stop can give us problems in MT4.0 or could give me problems in Metastock.
I will have to work with "Highest High since" and "lowest low since"...(not emmidiatly the sort of function that I'm used to work with)...
But I'll se what I can do...
But the indicator itself should not give any problems so we could do some manual backtesting
regards... iGoR
During summetime it is GMT + 2
During wintertime it is GMT +1
So at this moment it is GMT+2
regards....iGoRthanks