July '04 Forex
- Thread starter Newtron Bomb
- Start date
- Watchers 17
Hi denham,
I'm trading the 1-8am (in by 10am, 60 pip stoploss, exit at 6pm) through FXCM. Not fairing so well at the moment, but I'm very pleased with the results so far. I haven't found a FREE system I can trade through FXCM with as little time/stress overhead yet, so I'll stick with it for now.
Results (22nd April - 28th July):
Total pips: 593
Max consec drawdown: 89 pips
Profit factor: 6.6
Av pips/trade: 9
I'm trading the 1-8am (in by 10am, 60 pip stoploss, exit at 6pm) through FXCM. Not fairing so well at the moment, but I'm very pleased with the results so far. I haven't found a FREE system I can trade through FXCM with as little time/stress overhead yet, so I'll stick with it for now.
Results (22nd April - 28th July):
Total pips: 593
Max consec drawdown: 89 pips
Profit factor: 6.6
Av pips/trade: 9
CC the various forms that i have been working on would tie in with your results. at the moment i am putting the recent poor performance down to summer market conditions but am mindful of the possibilty that it may be something a little more serious than that. for now i will stick with the strategy though.
Time will tell. I really need to backtest for several years. There was a backtest of the 1-8 bo covering 12 months (May '03-May '04) on here a while ago, which averaged 13 pips/trade and a PF of 6.6 (again), max consec DD 219, overall DD 348.
The 7-10am 35 stop original over a 4 year backtest averaged 8/trade and the DD and PF appeared weaker than the 1-8am.
I guess in time, the variants will end up with broadly similar results, if not blown out completely.
The 7-10am 35 stop original over a 4 year backtest averaged 8/trade and the DD and PF appeared weaker than the 1-8am.
I guess in time, the variants will end up with broadly similar results, if not blown out completely.
Heres a nice piece of software i found which displays ALL the different times of the world. It has many configarations...so its fiddly at first to set up.....but once up and running its wonderful..
http://www.backwater.cz/chmelar/sc_main.php?lng=en
enjoy.
http://www.backwater.cz/chmelar/sc_main.php?lng=en
enjoy.
who knows Faz?!.....at least you have your s/r levels from the mornings chop! I guess it depends on which time frame you're looking at, but the shorter frames are certainly mixed, with bounces off the 130 bottom & headline at 175/85.......maybe a 'bracket' jobby??
Newtron Bomb
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GBP/USD
Long trade @ 1.8185
stop now at BE +2
Target 100 pips
A couple of factors coming together for this trade for me today.
1) The BO of the current HOD
2) The BO of 60 min consolidation pattern
3) Slightly dodgey 60 min 1-2-3 set ups
4) Already looking for a reversal at this level for longs (see previous post)
5) Longs won my coin flips
1.8250 area is providing resistance as it try to break back into to a previous trading range/channel. It wouldn't surprise me if 1.82 support was tested before the target is potentially reached. Based on current price action 1.8215/20 level might hold as support.
Target is based on a rough eyeball of consol. and 1-2-3 target and also yesterdays high of day where i might expect a little jostling at which time i will reassess if it will go any further.
Happy Trading
NB
Long trade @ 1.8185
stop now at BE +2
Target 100 pips
A couple of factors coming together for this trade for me today.
1) The BO of the current HOD
2) The BO of 60 min consolidation pattern
3) Slightly dodgey 60 min 1-2-3 set ups
4) Already looking for a reversal at this level for longs (see previous post)
5) Longs won my coin flips
1.8250 area is providing resistance as it try to break back into to a previous trading range/channel. It wouldn't surprise me if 1.82 support was tested before the target is potentially reached. Based on current price action 1.8215/20 level might hold as support.
Target is based on a rough eyeball of consol. and 1-2-3 target and also yesterdays high of day where i might expect a little jostling at which time i will reassess if it will go any further.
Happy Trading
NB
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nice analysis NB....you're such an orator!!! :cheesy: bracketed the 40-80 levels, but took it early ( ).....wait for the fall out later before climbing back onboard, but yes, there's some fib action around your support (220), and that looks a good re-entry level should it pop back to test 8200.
Newtron Bomb
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this area is certainly being a stuck pig.
Newtron Bomb
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well that was a spike i didnt expect to see lol
Ah well, done for the week now... will put up something over the weekend to see how it might have panned out. +2 for this trade up on day and up on the week
Have a good weekend all
NB
Ah well, done for the week now... will put up something over the weekend to see how it might have panned out. +2 for this trade up on day and up on the week
Have a good weekend all
NB
Newtron Bomb
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yeh tell me lol twas a bit annoying... sometime moving stop to BE is annoying but then other times its an absolute god send.
If this was futures i would have been filled 20 pips past my stop and if it was D4F they would have cleaned your account out for a giggle, another checked box for FX markets
NB
If this was futures i would have been filled 20 pips past my stop and if it was D4F they would have cleaned your account out for a giggle, another checked box for FX markets
NB
horses for them thar courses NB....but yeah, agree...a couple in the room experienced a little 'slip' around those number releases! I don't normally punt the figures, but bracketed FXCM on the GDP to suss out the land....got me fill, and exit ok....but still think it's a bitter taste on occasion .....nice to have the facility all the same tho I guess!.....ah well, another week looms......................
Newtron Bomb
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My only consolation is that i had a BE trade on and was happy to leave it OCO for my limit
Not too bothered with chasing the markets so off to do other things now.
Have a good one. or two or three lol
NB
Not too bothered with chasing the markets so off to do other things now.
Have a good one. or two or three lol
NB
Newtron Bomb
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i'll sent Ba' and Te' down with there mad perms for you to fill full of tea and bickies....
Lock up your daughters and hide the valuables the scousers are coming to town
Lock up your daughters and hide the valuables the scousers are coming to town
:cheesy: :cheesy: :cheesy: I knew you wouldn't let me down!!!!.....i've already put the word around the neighbourhood, all the females are being packed off to Lesbos for the w/end ......would they, by any chance be the twosome with the curly wigs & tache's????.....best get me rubber hammers out then, don't want them boy's doin too much damage to me best 'kiss me quick' mugs!!!
have a good w/end, catch ya next week
......would they, by any chance be the twosome with the curly wigs & tache's????.....best get me rubber hammers out then, don't want them boy's doin too much damage to me best 'kiss me quick' mugs!!!have a good w/end, catch ya next week
