Is this one Spot on?

[FetteredChinos]

im afraid its piss on the the bonfire time again chaps.

well done for experimenting with paramaters, but you may want to have a look at the detailed results. its to do with the VBA coding in the sheet that doestn delete the previous results.

if you look carefully, you may notice that it may include several results for the 24th March.

if you total up the "real" results, you get to 1459 points.

its a bit of a bummer, as i managed to get over 2000points using this sheet. real results were a lot less lol!

sorry to be the bearer of bad tidings.

FC

 

[kjb]

Hi FC,

I knew about the slight prob with the VBA. I'm no expert but I added a macro to delete and repopulate the output each time it ran. I checked the output for the first couple of days and can't see anything wrong. Still get the same result of 1623 pips.

Kev.

 

[FetteredChinos]

hmm, could you post the excel sheet please mate. i think there is also an error with the closing time of the trades.

much appreciated mate,

FC

 

[kjb]

No need to repost the sheet, its already here on page 4 of this thread. All I added was a couple of lines to clear the output before recalculation.

i.e. Range("G11:Q1000").Select
Selection.ClearContents

Checked the trade times on a couple of random selections and they seemed fine. Apart from maybe a minor tweak to deduct the spread from the trades that get stopped out then it seems ok to me.

Kev.

 

[ianp]

I tested the sheet using KJB's add in code to clear the total box, I cross checked results with the charts and they look ok.

If you take the 02.00 - 04.30 time frame with a 35 pip stop you get 1522 pips..

Can anyone tell me in simple terms how I can add more data to the spreadsheet ?

Ian

 

[mik1973]

Been following this thread with interest. Would appreciate if someone could define the definition of a breakout with regard to this system.
Is a breakout confirmed when the most recent close is higher than the high of the time frame under review (looking to go long) or is it when the high of all the highs has been exceeded during this period.
Conversley (when looking to go short) is a breakout confirmed when the most recent close is lower than the low of the time frame under review or is it when the low of all the lows has been exceeded.

With reference to Jonnys sytem- is it necessary to have an IB account or can it be used on other software. I only hold an account with a S/B and am familiar with excel. Would it be possible to use JT's system with excel.
Hope the above makes sense- if not just tell me to go and sort my life out.

Cheers,
Mick

 

[JonnyT]

Hi Mick,

You are not going to automate this system via spreadbets as no spreadbet company will let you interface directly. Please ask them why...

If you are serious about trading then direct access to the markets is the only real way forward due to spreads, costs and quote manipulation.

Interactive Brokers offer direct access at very very cheap prices and were I beleive recently stated by the regulatary bodies in the States to be the most secure broker over their as well as the biggest.

JonnyT

 

[mik1973]

Hi Jonny,
Many thanks for your very quick reply. I am considering direct access and doing research into what funds would be required to set up an account with IB.
With reference to the actual breakout of the system could let me know how the actual breakout is verified.

Thanks
Mick

 

[ianp]

Mick,
The breakout is when the price goes above or below the 7 am to 10 am range

on friday the Eur/Usd futures range was high 1.2049 low 1.2023 as soon as the price

went above or below those prices you entered the trade , you only take one trade per day.

Thats how I understand it !!!

Ian

 

[mik1973]

Hi Ian,
Thanks for your reply. Your example although brief makes perfect common sense. Where i was getting confused was reviewing the time frame bar (including open high low close) which would have broken out of the range. For example if the range was initially broken then closed below the range (if going long), i wasn't sure what position would have been taken. From what you have said it seems that as soon the range is broken then an appropriate position is taken.
Sorry for making such a simple break out so confusing- i guess i'm trying to over analyse.
Cheers,
Mick

 

[tips]

Hello Guys ? seen no update on this one for a long time now? is the spot on system still working ?? Also I was wondering if it could be traded with other currencies ?

 

[JonnyT]

Yes its still working

I have traded it with EUR and GBP

JonnyT

 

[Dave1971]

Yes its still working

I have traded it with EUR and GBP

JonnyT

JT
Any chance of you posting some stats for it since the spreadsheet posted in March?. These showed some pretty impressive performance and would be interesting to see if it has been sustained.

Would be much appreciated.

many thanks

Dave

 

[linuxtroll]

Er I don't think so.

I've done no optimisation whatsover. I've not looked for better approaches, not carried out mathematical analysis or anything.

It's apparent from viewing charts that by 10:00am UK the trend for the day normally sets in. This system just trys to catch the trend move.

If I tried to make the system fit then there are lots of things I could do like stops, profit targets etc.

This system is pure price action and follows the KISS principle so I think its safe from the 'data fitting' argument

JonnyT

I am using this for a couple of months and it is working... but I am using SMA 3,13,39 breakout around EST 04:00

Cheers,
--
Linuxtroll

 

[Welshmal]

I am using this for a couple of months and it is working... but I am using SMA 3,13,39 breakout around EST 04:00

Cheers,
--
Linuxtroll

I wondered which pairs you are trading please.

 

[hannonjm]

Obvious question - What are "pips"?

I appreciate that this question should probably be in the noobie section but it does relate to one of the key terms on this thread.

It is my virgin post so please cut me some slack?!

When one refers to "pips" what fraction of the currency movement is it representing? Is it 0.0001 of a movement?
Following on from the above questions how to the total "pips" of the system translate into monetary terms i.e. could someone give me an example of an amount of capital used for the system and the monetary returns on this capital?

Thanks in advance!

 

[JonnyT]

A pip is 0.0001 for the EUR/USD and GBP/USD

If you trade the Globex futures then the EUR/USD is $12.5 per pip and the GBP/USD is $6.25 per pip

JonnyT

 

[citroen999]

hi

just read all of the thread, very interesting..

regarding the breakout.. is the range determined by the open at 7.00 am and the close of 10.am? or the high and low of these times?

and once it goes out of the range, you go with that direction?

is this how the system works?

many thanks

 

[Mr Chill]

hi

just read all of the thread, very interesting..

regarding the breakout.. is the range determined by the open at 7.00 am and the close of 10.am? or the high and low of these times?

and once it goes out of the range, you go with that direction?

is this how the system works?

many thanks

OH NO , the T2W police are back

 

[rog1111]

citroen999

It's the high and low price range of the 7-10 time period, go long at the high, short at the low, usually one cancels the other.

rog1111

hi

just read all of the thread, very interesting..

regarding the breakout.. is the range determined by the open at 7.00 am and the close of 10.am? or the high and low of these times?

and once it goes out of the range, you go with that direction?

is this how the system works?

many thanks