100-300 Pips Per Day Any Pair Any Timeframe Using 2 Indicators - page 9
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Joe,
Thanks for sharing these 2 approaches - both look to have promise...which made me wonder if you have/use a MACD crossover alarm with so many possible pairs to track?
Joe, Thanks for sharing these 2 approaches - both look to have promise...which made me wonder if you have/use a MACD crossover alarm with so many possible pairs to track?
I have not. It would have to be in a lower time frame. I would want it to know its in a #3 in 1hr time frame. It would have to let me know that its reversing in that hour or you might miss it.
I have thought about it but trying to figure out what is the best way.
For now I need a alarm for the #3. That would help out.
JS
2/9/2009 Results
Here are the trade results that closed so far today.
JS
...
hi ! :-)
what is indicator that do you use ?
show123 or 3_Level_ZZ_Semafor ?
Heuristic Backtest
Hey JS,
I tried a simple manual backtest of your method #1 (MACD+ R/S), 4 pairs over the past 2 days, 15 minute bars, simple profit target of 30 or 50 pips depending on typical moves of the pair.
Holy humping heifers, Batman, this works pretty well! The test showed each pair averaged a profit of around 120 points for the 2 days or 60 points per day.
Ratio of winners to losers was about 4 to 1. I assumed the size of a losing trade was equal to the size of a winning trade in coming up with the avarages above.
With these numbers, monitoring let us say a dozen pairs, it looks feasible enough to get 6 to 12 trades in an 8 hour day, with 2 to 3 losers and the rest winners, that would sum to 120 to 270 pips daily without breaking a sweat. With practice those numbers would improve.
Next step: observe how the action unfolds in real time and try some practice trades.
Thanks for the helpful advice, JS. Here is something in return. Here is a link to an article that describes how to add audible alerts to indicators. In fact, they provide a MACD example and you can download it from there. Check it out Sound Alerts in Indicators
regards,
Chipdude
hi ! :-)
what is indicator that do you use ?
show123 or 3_Level_ZZ_Semafor ?wall03,
Use either one. They are both there because one or the other seem to not work for some platforms....start with 3_Level_ZZ_Semafor.
JS
Hey JS,
I tried a simple manual backtest of your method #1 (MACD+ R/S), 4 pairs over the past 2 days, 15 minute bars, simple profit target of 30 or 50 pips depending on typical moves of the pair.
Holy humping heifers, Batman, this works pretty well! The test showed each pair averaged a profit of around 120 points for the 2 days or 60 points per day.
Ratio of winners to losers was about 4 to 1. I assumed the size of a losing trade was equal to the size of a winning trade in coming up with the avarages above.
With these numbers, monitoring let us say a dozen pairs, it looks feasible enough to get 6 to 12 trades in an 8 hour day, with 2 to 3 losers and the rest winners, that would sum to 120 to 270 pips daily without breaking a sweat. With practice those numbers would improve.
Next step: observe how the action unfolds in real time and try some practice trades.
Thanks for the helpful advice, JS. Here is something in return. Here is a link to an article that describes how to add audible alerts to indicators. In fact, they provide a MACD example and you can download it from there. Check it out Sound Alerts in Indicators
regards,
ChipdudeChipdude,
Ya this system is very profitable. It's best learned live. There are things you can learn only by doing this live as you see it. So practice demo for awhile. Thanks for the link.
JS
2/9/2009 End Of Day Results
Here is all the trades I took today and how I did.
Hope to see how everyone else is doing.
JS
Hi JS, just to let you know that I had 6 trades yesterday all winning. My T/P is 15 pips at the moment, will adjust if necessary, so only 90 pips yesterday, should increase with practice. Cheers
Hi JS, just to let you know that I had 6 trades yesterday all winning. My T/P is 15 pips at the moment, will adjust if necessary, so only 90 pips yesterday, should increase with practice. Cheers
fallingsaints,
That's awsome. Don't mess with what Isn't broken. 91 pips is great. 20-30 pips is great. Just keep it steady no reason to try to make more pips. If you are consistant with your trades then you can always change your lot size. Winning more often then loosing is better the trying to get as many pips as you can. Money management will come into play after you see what your percentage of winning verses loosing is.
JS