Big Ben on the FTSE100

Good work Doomberg, glad to hear we're following a good track. And why not indeed trade BB on the Dow after lunch, having made a good profit on the FTSE after breakfast?
 
If you are going to trade a system like this the only way to do it is consistently tomorton, so in my opinion you are right. I broke the rules today and I got lucky, but that could go either way.

The point about testing and achieving consistent results is that you get a strictly defined method that gives a consistent winning ratio. If you chop and change and arbitrarily stop or start, you are just as likely to hit the bad times as the good, and that would probably put you off the system.


Wise words I'm sure jim, it just stood out so obviously that a 5-0 week was going to be followed by a rubbish week, and it was galling to watch. However, I should put aside that kind of double-guessing, this isn't the right system for it. Never mind, 60% win rate will be fine. Cheers anyway.
 
Todays trade Short @ 5791.8 Stop @ 5984.3 Limit @ 5957.3
Hmmm - I'm assuming you mean 5971 rather than 5791? and .3 maybe?

Interesting anyway, because my entry was short at 5972.8 (low -2 on my chart) triggered at 11:41, and I set my stop at 10 (still running SL 10 TP 11 settings). I was stopped out at 13:01 at 5982.8, where my chart shows the price reached exactly 5981.8 (plus the spread of 1).

So another loss for me today, but it just shows how fickle these settings are. I nearly changed to the SL 11 TP 15 settings today, but decided to plug on with my old ones - doh!
 
Yes a typo - didn't see that, although the .8 is correct. I'm playing around with a very modified Big Ben - it only gives me one trade, either a long or a short depending on where the Big Ben is in relation to a calculated pivot point, entry is 3 points above or below the Big Ben and the stops and limits are adjusted according to the size of the ATR(10)

Sort of complicated but I've got a spreadsheet that tells me what to do - simples.
 
Good work Doomberg, glad to hear we're following a good track. And why not indeed trade BB on the Dow after lunch, having made a good profit on the FTSE after breakfast?


Yeah i'll test a few things out and let you know how it goes :)
 
long at 5882.9, avoiding the short today due to the strong resistance at 850-860.
 
Tomorton - had a thought today regarding NFP or other news days that you might be able to assist with. These days usually have fairly quiet mornings as the market is awaiting the news release, due to this your BB target is less likely to get hit. Do you have figures that could provide some insight into whether this is true and what kind of w/l ratio you get on these days?
 
News is on my mind as well - I just got stopped out on a news spike that went against me before it went for me - if the spike had gone the other way I'd be feeling happy about the news.
 
Tomorton - had a thought today regarding NFP or other news days that you might be able to assist with. These days usually have fairly quiet mornings as the market is awaiting the news release, due to this your BB target is less likely to get hit. Do you have figures that could provide some insight into whether this is true and what kind of w/l ratio you get on these days?


Sorry, I've no data on NFP or any other news flow days. Might be worth checking back on, also options expiry Fridays etc.
 
A second successive losing week - although, amazingly, that has never happened before: lost this one 1-3. Over last 4 weeks flat at 8-8 so not as bad as it could have been. Next week must be a winner!
 
Occasionally run across other pople using BB or a variation. Such as -
'Big Ben' on ZuluTrade at http://www.zulutrade.com/TradeHistoryIndividual.aspx?pid=24802.
He's trading the GBP/USD using BB since September, so a comparable period to this thread. His win rate is 61%, right in the middle of the range we're getting on the FTSE. His months are not consistenyly profitable, 5 out of 9, but the account is well up. Slightly negative r:r, 35 pips for target, 40 for stop: doesn't seem to worry him but at 20 pips profit moves s/l to b/e +3 pips.
 
The win % is interesting - that its roughly the same in two very different markets suggests that its a pretty reliable figure. I don't like the r:r very much although this is probably offset by the moving of the sl - although some of the appeal of the BB was that one could place the trade and then do nothing more in the way of managing it.
 
Looks like the long got executed under the standard rules but hadn't hit target by 13:00, I stayed out due to the strong res at 5860
 
got on it myself long at 5852.8 hit limit at 5865.8 - good start to the week. rough one last week!
 
Hello all, planning to get back involved with the BigBen.

Only problem is I seem to be in a 3G flat spot at work.

Anyway I would like to try the system with a trailing stop. I did something similar before and it was fairly successful. I am thinking that it may drop my win rate slightly but may increase my R:R

Before I did a very brief BB range, i.e was based on first 10 points printed after 8am (that was the range). It had a 15 point stop. Which was manually adjusted to lock in profit as the day progressed (of course involved more maintenance and would work a lot better in a trending market but then I suppose most system do).

Anyway I may have to opt for something like a 15pt stop that trails by 10 pts (hope that makes sense). I would then opt for a larger 40 pt limit but the idea being that I should end up with an average loss of less than the full 15pts.. and hopefully an average win of over 15pts.

I will keep you informed, the problem I have is no 3G signal and a need to leave for work before 8:30am. If nothing else it may prove some benefits of the existing system.:whistling
 
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