gbpusd b/o

WR:
GFT and ACM come highly recommended from prominent members on this board.

D4f and ACM both have a spread of 3 on gbpusd, i am keeping the D4F acc for US Indices and NAZ stocks.

c6ackp:
fxengines looks very interesting, will test out their trial, thanks for that.
 
One other point Fazalv, when you apply your 20pip stop, is it from the actual breakout level, or from the breakout level plus 5pip buffer/filter? e.g. if breakout level is 1.2000 and you enter at 1.2005 is your stop then at 1.1080, or 1.1085?

WR
 
Guys,

In backtesting there is no way any buffer helps long term...

Take the breakout or don't trade the method full stop.

Of course that is with futures and a fair market.

All I can think is that the bucket shops deliberately trigger at these points...

JonnyT
 
WR

I have yet to fully automate this 'system'. The SL's are discretionary for me at the moment but i favour the b/o level.
I will give some examples later next week.
 
JonnyT

I'm using eSignal's feed and don't know how that compares to your data, but in essence, we may well be trading different data as you say. And over the long-term the buffer may well prove to be of no value but while my live trading is showing otherwise I'll carry on with it - as soon as it stops earning its keep, I'll ditch it and come and eat some humble pie.

I monitor a number of things on an ongoing basis and my live trading of the Euro$ for two months has shown that a 10 pip buffer has saved me a total of potentially lost 227 pips - 141 just in August (e.g. I would've got whipped both ways on 25/8 at a cost of 84 pips. And this would've been 70 pips even using 35 pip stops). I'm still using your original SAR technique rather than specific stop values, but this is under review, hence my question to Fazalv, to determine his experience with stops on GBP$. D4F has filled everything I targeted on eSignal, so no issues at the moment with SBs.

Can't say whether there's some deliberate triggering going on but it wouldn't surprise me, given what's being said about the Forex SPs elsewhere here. I'll be very interested to see how the markets change with greater volume during September and beyond and to see whether the buffer is still relevant.

WR
 
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This week, the filter has prevented me from entering at least 4 losing trades.

Todays trades:
1-6: 20 pips
7-10: 20pips (momentum) + 70 rider
 
Fazalv

Thanks for posting your trades, they're very interesting to review on the charts.

As you know I've been trading Eur$ using single daily BOs, but I've also been trading spot GBP$ during August using FXCM's demo platform. The results for August are very encouraging and at the moment showing stronger moves than the Eur$. I intend to start trading GPB$ live as from Monday, in addition to Eur$, and will post my results here if you're interested.

If you're happy to continue to post your results it will be interesting to compare the results of the different strategies, and the different currencies.

I tend to analyse by number of weeks rather than calendar months, since months vary in length. As of Friday, using just the 7-10am BO on GBP$, with a 10pip buffer, and letting the trades run to 9pm, I accumulated 416 pips in the previous 4 weeks. (I follow FXCM's data for my Eur$ trading as well and believe their data feed for GBP$ is accurate (as far as most retail forex SPs are, anyway), so I consider my results reflect what was achievable).

What was your total for the same 4 week period using your multiple BOs per day?

WR
 
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WR:

Using my multiple timeframe strategy and incorporating the 20pip momentum trade (5pip buffer) with a runner my total was 547 pips.
GBP has been more compliant with the momentum trades than the euro and swiss imo.
I only trade gbpusd.

July was slightly more lucrative with nearly 680 pips banked.

I will continue to post my daily results.

Faz.
 
Faz

Very interesting. Given that you partially exit trades can I ask how you are counting pips? If you enter a trade at £3 per pip, then exit £1 at +20, a further £1 at +40 from entry, and let the remaining £1 run to +70 from entry, do you count that as a 70 pip trade, or a 20+40+70 pip trade, equalling 130 pips in total?

WR
 
waverider said:
...... As of Friday, using just the 7-10am BO on GBP$, with a 10pip buffer, and letting the trades run to 9pm ......
WR
Click to expand...

Hi Waverider,

Could you explain what you mean by ' a 10 pip buffer '.

TIA.

Regards,
 
Sure, if the breakout level is 1.2080, I add 10 pips and only trade if the price reaches 1.2090. Same thing applies short of course. Personally, I place stop (entry) orders so the trade entry is automatic, and add the full spread of 3 pips to ensure the actual market has reached my trigger, not just the SB company. So my entry would be 1.2093. Ultra-cautious but its working ok for me, but I monitor results over time and will adjust if I think its costing me money.

WR
 
This strategy has worked for the past three months.

For the prior 18 months it has not.

EUR/USD that is.

I certainly would not follow adding an offset to a breakout given these facts.

JonnyT
 
waverider said:
Sure, if the breakout level is 1.2080, I add 10 pips and only trade if the price reaches 1.2090. Same thing applies short of course. Personally, I place stop (entry) orders so the trade entry is automatic, and add the full spread of 3 pips to ensure the actual market has reached my trigger, not just the SB company. So my entry would be 1.2093. Ultra-cautious but its working ok for me, but I monitor results over time and will adjust if I think its costing me money.

WR
Click to expand...

Thanks waverider. All clear now.

Regards,
 
Hi all,

how has sept been up to now with the different b/o s ? Any new knowledge giained? Thanks for sharing.

Hittfeld
 
fazalv

Have been reading your thread with interest.

Would be interested to know your current trade.

On the basis of FXCM chart 7-10am high = 1.7872, so are you long @ 1.7877?

And, if so, where do you place your stop?

Regards

pepe
 
Hi Pepe,

1-6: Todays trade buy @ 1.7798 8.30am. or 1.7794 on fxcm. 20pip SL.
I took 2lots out after 20pips and the rest after 80 pips.

Refer to my 1st post on this thread.
 
Last edited:
fazalv

Many thaks for prompt reply.

I may sound thick but given 1-6 trade with entry @ 1.7998 is there any reason not to enter trade on the 7:30 bar (FXCM 10 min chart showing high of 1.807) ?

Thanks again.

pepe
 
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