You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Yes, the graduation to mostly successful trades on the FTSE100 at 72 refers to the ATR (14-days) value itself. But ATR is not a percentage, so of course other instruments have ATR's with very different values. It would be necessary to calculate each one individually and track perfomance for some time to identify the threshold for that pair.
However, I still do see the BB range as a %age of the current appropriate ATR as helping decide whether to trade that market that day (BB > 80% ATR), or whether to go for a higher profit target (BB < 25% ATR).
However, I still do see the BB range as a %age of the current appropriate ATR as helping decide whether to trade that market that day (BB > 80% ATR), or whether to go for a higher profit target (BB < 25% ATR).
Yes, the graduation to mostly successful trades on the FTSE100 at 72 refers to the ATR (14-days) value itself. But ATR is not a percentage, so of course other instruments have ATR's with very different values. It would be necessary to calculate each one individually and track perfomance for some time to identify the threshold for that pair.
However, I still do see the BB range as a %age of the current appropriate ATR as helping decide whether to trade that market that day (BB > 80% ATR), or whether to go for a higher profit target (BB < 25% ATR).
Thanks for clarifying.
My results for the last two days.
Mon 1 Nov
FTSE +31 (Closed manually)
GBP/USD -17 (Closed manually)
EUR/USD +49 (TP hit)
USD/CHF +45 (TP hit)
EUR/JPY +34 (TP hit)
NZD/USD -33 (SL hit)
Net +109
Tue 2 Nov
FTSE - No trade
GBP/USD -25 (Closed manually)
EUR/USD +37 (Closed manually). Target was 66, and got up to 54 at one point.
USD/CHF +70 (TP hit)
EUR/JPY +55 (TP hit)
NZD/USD +36 (TP hit)
Net +173
Last edited:
Nice steve, like it.
Six positions must only take minutes to set up. And how many indicators do we have to mess with? - none.
I'm done by ten past ten. All too easy at the moment. Nice to get off to a good start when real money's involved.
Sure, it can't last, but realistically, I would be more than happy with a quarter of that everyday. As long as they're reliable, any amount of pips would do.
Thanks for clarifying.
My results for the last two days.
Mon 1 Nov
FTSE +31 (Closed manually)
GBP/USD -17 (Closed manually)
EUR/USD +49 (TP hit)
USD/CHF +45 (TP hit)
EUR/JPY +34 (TP hit)
NZD/USD -33 (SL hit)
Net +109
Tue 2 Nov
FTSE - No trade
GBP/USD -25 (Closed manually)
EUR/USD +37 (Closed manually). Target was 66, and got up to 54 at one point.
USD/CHF +70 (TP hit)
EUR/JPY +55 (TP hit)
NZD/USD +36 (SL hit)
Net +173
Hi Steve,
Was your NZD/USD yesterday a profit or a loss, because you've put a positive figure and included that in your total of +173 but then you put SL hit?
Do I assume you're trading at 10am, and using the 8am-10am high/low ranges?
Are you factoring in ATR at all and if so where do you get this figure from?
Thanks
Hi Steve,
Was your NZD/USD yesterday a profit or a loss, because you've put a positive figure and included that in your total of +173 but then you put SL hit?
Do I assume you're trading at 10am, and using the 8am-10am high/low ranges?
Are you factoring in ATR at all and if so where do you get this figure from?
Thanks
It was profit (target hit), I cut and pasted, but forgot to change the text.
Yes, trading at 10am and using 8-10 range.
I am factoring in the ATR for all my BB trades. For the forex pairs, I've been using the daily high/lows from my SB platform charts to calculate it. Don't know of an alternative, if this isn't ideal.
For the FTSE, I've been using Yahoo Finance daily high/lows.
Cheers
For the forex pairs, I've been using the daily high/lows from my SB platform charts to calculate it. Don't know of an alternative, if this isn't ideal.
Thanks, is that for the previous 24 hours? 10am-10am
SB charts are normally 24hrs, my EOD Sharescope charts are 0800-1630. So this could mean different ATRs for same instrument. Hopefully, big ranges on one would be reflected by big ranges on the other so the net result would not be too variable. If spreadbetting, maybe 24hr tick chart-based ATR is a more useful guide to volatility.
Thanks, is that for the previous 24 hours? 10am-10am
Yes. I think it's 23:00 - 23:00 on my SB platform (Gekko).
Hi Steve, Congrats on your FX trades. Just to clarify, do you open OCO orders at 10am ; long above 10am high and short below 8am close?
Many thanks in advance
Yes, OCO orders set at 10am.
- long above 8-10am high
- short below 8-10am low (not close)
I've attached the calculator I've made for it, based on the formulas posted by tomorton and others in this thread. When using this, only add data to the yellow cells on the main calculator sheet, the rest are formulated.
Steve.
Attachments
Last edited:
I don't know whether this is the answer to the proverbial maiden's prayer, but if you want FOREX daily highs and lows, take a look at this:
http://www.forexmetrics.com/currencyconverter/forex-highs-lows.html
http://www.forexmetrics.com/currencyconverter/forex-highs-lows.html
george0, how did todays trades go? I had a OK day Monday (I think you managed to get out of some at the right time but i left them run), A good day yesterday and a bad day today. In fact gave all the weeks profits back so i am now neutral for the week (to within less than a point).
I know its not a good idea to set targets explicitly, but i cant help thinking that because this system tends to go off a bit towards the end of the week it might be a good idea to set a target (of say 200 points) and if it is hit by Wed then quit for the week.
I know its not a good idea to set targets explicitly, but i cant help thinking that because this system tends to go off a bit towards the end of the week it might be a good idea to set a target (of say 200 points) and if it is hit by Wed then quit for the week.
Yes, OCO orders set at 10am.
- long above 8-10am high
- short below 8-10am low (not close)
I've attached the calculator I've made for it, based on the formulas posted by tomorton and others in this thread. When using this, only add data to the yellow cells on the main calculator sheet, the rest are formulated.
Steve.
Thx Steve for that and especially for your time out in posting the info and attaching the calculator. My very best to you and good trading. Cheers, Vin
george0, how did todays trades go? I had a OK day Monday (I think you managed to get out of some at the right time but i left them run), A good day yesterday and a bad day today. In fact gave all the weeks profits back so i am now neutral for the week (to within less than a point).
I know its not a good idea to set targets explicitly, but i cant help thinking that because this system tends to go off a bit towards the end of the week it might be a good idea to set a target (of say 200 points) and if it is hit by Wed then quit for the week.
Mata Nui - ineterested in your point about BB going off a bit towards the end of the week. Do you (or anyone) have any stats that show how much worse Thur and Fri have been?
Cheers
george0, how did todays trades go? I had a OK day Monday (I think you managed to get out of some at the right time but i left them run), A good day yesterday and a bad day today. In fact gave all the weeks profits back so i am now neutral for the week (to within less than a point).
Hi Mata Nui,
Firstly I've only done FTSE so far. Hope to try some forex shortly but that's why I keep asking people about timeframes and ranges for it!
Tuesday - buy triggered at 5745 and was still running late on so around 16:30 I adjusted my stop loss and it closed for a 10 point profit.
Wednesday - not so good - sell triggered late on at 5745 and eventually stopped out for full 23 point loss at about 18:05GMT.
Not sure what the "rules" of the system are if trades are still running around that time.
Somewhere (middle of the posts i think) is an analysis of wins/losses by day of week for FTSE that tomorton did. It shows Thursday is a pretty poor day. Monday/Tuesday seem to have a higher win rate.Mata Nui - ineterested in your point about BB going off a bit towards the end of the week. Do you (or anyone) have any stats that show how much worse Thur and Fri have been?
Cheers
It might be interesting to do again given he now has another month or so of stats + some cable stats.
I have only been running it a few weeks but what i notice is that wins/losses almost average out over a week but normally you will have a +ve week at the end. My question really was if others are also noticing this sort of pattern would it not make sense to quit if you had a good 2 days by Wed. Otherwise you will probably end up in either the same position or maybe slightly worse off by friday. Obviously if the start of the week is bad then run till the end (last week was like that).
Similar threads
- Replies
- 40
- Views
- 9K
