OK so.... following some soul searching I've decided to move closer to tomorton's strategy on which I will trade for 8 weeks faithfully without any interference and I'll update each week on progress.
Buy BBH +2, Limit 13, Stop 10
Sell BBH -2, Limit 13, Stop 10
No trade if BBR>Avg(BBR,10)
Started Tuesday, showing one win today, one loss yesterday so +3.
Tomorton - a technical question - when you calculate Avg(BBR,10), do you use the previous 10 days? Or the previous 9 and today?.... Don't think it makes a huge difference but just curious.
Buy BBH +2, Limit 13, Stop 10
Sell BBH -2, Limit 13, Stop 10
No trade if BBR>Avg(BBR,10)
Started Tuesday, showing one win today, one loss yesterday so +3.
Tomorton - a technical question - when you calculate Avg(BBR,10), do you use the previous 10 days? Or the previous 9 and today?.... Don't think it makes a huge difference but just curious.
Good plan doylen, it will be invaluable to see how this works in practice.
Personally using the previous 10 BB sessions to give the Av. 10d BBR. Then multiply this by 1.25 to give the threshold - if today's BBR above this value, no-trade. I am sure another Av. BBR period could be used, with a different multiplier, or no muitiplier: or you could go back to ATR. Actually, anything could be admissible that helps identify that today's BBR is so wide as to be potentially misleading.
A clear win today!
Personally using the previous 10 BB sessions to give the Av. 10d BBR. Then multiply this by 1.25 to give the threshold - if today's BBR above this value, no-trade. I am sure another Av. BBR period could be used, with a different multiplier, or no muitiplier: or you could go back to ATR. Actually, anything could be admissible that helps identify that today's BBR is so wide as to be potentially misleading.
A clear win today!
sorry you're absolutely correct I'm actually going with your 1.25 and believe that to be a very valuable filter, just a typo in my last message. So to re-affirm:
Buy BBH +2, Limit 13, Stop 10
Sell BBH -2, Limit 13, Stop 10
No trade if BBR>1.25*Avg(BBR,10)
Buy BBH +2, Limit 13, Stop 10
Sell BBH -2, Limit 13, Stop 10
No trade if BBR>1.25*Avg(BBR,10)
nice clean breakout today, just found I put 5x my usual bet on by accident. Happy days
5x!!! You lucky b_gger!
Maybe a little bit of research lined up over the long weekend - aimed as ever at reducing entry into BB failure trades.
Might have a look at whether BB ranges that lie within or mostly within previous session's daily range are more likely to see emerging price emerging from the BBR moving to target. so, if daily range is 5900-5960 and next BBR lies within, at say 5935-5955, is that more likely to succeed than if the BBR was outside, say 5975-5995?
Might have a look at whether BB ranges that lie within or mostly within previous session's daily range are more likely to see emerging price emerging from the BBR moving to target. so, if daily range is 5900-5960 and next BBR lies within, at say 5935-5955, is that more likely to succeed than if the BBR was outside, say 5975-5995?
Sorry guys, probably all my fault. I stopped trading this live a few months ago and it's been doing really well. Started again this week and 4 losses out of 5. Oh well.
tomorton, have you considered any volatility indicators. It occurs to me that higher volatility might lead to a bigger move, rather than looking back at previous averages. If I have time I'll look into it.
Don't worry jimmc, although this week weren't so good (welcome back), the system overall is healthy.
This week the current rules show performance is down at 1-4. But over the last 4 weeks, the score is 11-6, still good for a +5 difference, and I can live with that. Overall win rate from day 1 is 64%. Win rate in the first 21 weeks of 2011 so far is 43-30, making 59%. Enough for subsistence but it's not going to buy that new BMW. Hoping for improvement soon.
This week the current rules show performance is down at 1-4. But over the last 4 weeks, the score is 11-6, still good for a +5 difference, and I can live with that. Overall win rate from day 1 is 64%. Win rate in the first 21 weeks of 2011 so far is 43-30, making 59%. Enough for subsistence but it's not going to buy that new BMW. Hoping for improvement soon.
Yes, I won't give up just yet. With the five wins last week and 1 this week we're still at 60%. I just chose the wrong week to start
Doomberg
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Hello again people, i had a look in here not long ago and plan to start trading big ben live from next monday.... the rule seems to have changed somewhat or is this just individual to some of you guys? What do you find is optimal, last one i seen is:
Open the position 2 points above the 10am high or 2 points below the 10am low
And to have a 10 point stop + Spread so 11 point stop total
With a target of 18 points to taking profit?
Is this right guys or do i have the total wrong end of the stick
Thanks
Open the position 2 points above the 10am high or 2 points below the 10am low
And to have a 10 point stop + Spread so 11 point stop total
With a target of 18 points to taking profit?
Is this right guys or do i have the total wrong end of the stick
Thanks
Hi Doomberg - Pretty much correct, though maybe some refinements. I give the curent formula below but actually, BB is an open strategy to personalisation and although my figures are precise, this is so that I can follow them with minimal reflection time / subjective input each morning, not intended to mean no other sets of data would work.
BB period = 0800-0900
Set buy at BBH + 2, OCO sell at BBL - 2: long target at BBH + 15, short target at BBL - 15: long stop at BBH - 11, short stop at BBL + 11
Cancel unexecuted orders and exit running positions at 1300. No-trade signal is when US markets on holiday or if BB range >1.25 x 10d Av. BB range. Persoanlly I also hate chasing price at 0900 trying to get in via a trade rather than an order placed ahead of price, and often regard this as another no-trade indication.
Maybe you want to play around with the system and customise it, go ahead and please share how you get on. I'm certainly not happy with the flat r:r. Obviously, the win rate could always stand improvement if we could make the weaker market set-ups more visible.
BB period = 0800-0900
Set buy at BBH + 2, OCO sell at BBL - 2: long target at BBH + 15, short target at BBL - 15: long stop at BBH - 11, short stop at BBL + 11
Cancel unexecuted orders and exit running positions at 1300. No-trade signal is when US markets on holiday or if BB range >1.25 x 10d Av. BB range. Persoanlly I also hate chasing price at 0900 trying to get in via a trade rather than an order placed ahead of price, and often regard this as another no-trade indication.
Maybe you want to play around with the system and customise it, go ahead and please share how you get on. I'm certainly not happy with the flat r:r. Obviously, the win rate could always stand improvement if we could make the weaker market set-ups more visible.
