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.
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.
Sort of complicated but I've got a spreadsheet that tells me what to do - simples.
Doomberg
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pb8856
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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.
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.
'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.
bangkoker
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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
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
