Best Thread Live Cable Trading

[Baruch]

Kaffee,

What is the basic difference between Big Ben and Hans123? Well, as I see it, the only difference is that you start trading from 10.00 am CET. And you have some rules for money management (stop, traling stop etc.). But let us test it in real-time trading. If it works, it works.

PS. The problem with the system, as with all systems, is the big news. Would you take a position based on the system just before NFP?

 

[Kaffee]

Kaffee,

What is the basic difference between Big Ben and Hans123? Well, as I see it, the only difference is that you start trading from 10.00 am CET. And you have some rules for money management (stop, traling stop etc.). But let us test it in real-time trading. If it works, it works.

PS. The problem with the system, as with all systems, is the big news. Would you take a position based on the system just before NFP?

Difference ? I would say the time window.... Hans123 lets both Frankfurt and London shake itself out before going in. Whereas Big Ben ( 7-8) can get caught in the early London whipsaw.

Also, Hans123 fulfils that other requirement of a good trader by possibly adding to a winning position.... which takes some guts.

Hans123 has proved (somewhere in his thread) that newsdays (especially NFP) are netural OVER THE LONGER TERM.... but that is no consolation if you take a whack of 240 pips within 1 or 2 days of starting the system. From memory January NFP worked in favour of his sytem by a big amount.Call up a chart for for Jan 6th and overlay Hans rules, then do the same for Dec 2nd 2005 which if memory serves was truly an awful day.

Just warning you about the short term drawdowns v's possible long term pips that's all.

 

[Baruch]

Difference ? I would say the time window.... Hans123 lets both Frankfurt and London shake itself out before going in. Whereas Big Ben ( 7-8) can get caught in the early London whipsaw.

Also, Hans123 fulfils that other requirement of a good trader by possibly adding to a winning position.... which takes some guts.

Hans123 has proved (somewhere in his thread) that newsdays (especially NFP) are netural OVER THE LONGER TERM.... but that is no consolation if you take a whack of 240 pips within 1 or 2 days of starting the system. From memory January NFP worked in favour of his sytem by a big amount.Call up a chart for for Jan 6th and overlay Hans rules, then do the same for Dec 2nd 2005 which if memory serves was truly an awful day.

Just warning you about the short term drawdowns v's possible long term pips that's all.

Let's give it a try in our thread starting tomorrow. But I think the stops - 50 and 70 pips - are a little bit high, aren't they? I am not happy with risking 70 pips in one trade.

 

[trendie]

Let's give it a try in our thread starting tomorrow. But I think the stops - 50 and 70 pips - are a little bit high, aren't they? I am not happy with risking 70 pips in one trade.

I can confirm that neils post relating to the rules are accurate and true reflection of hans' posts.
( you need only register with stratgeyfx to confirm this )

with regards to risking 70 pips, that has to be seen in context of 120 pip profit targets.
( consider: I believe zuke risks 20 pips to get his daily target of 25 or so. all too successfully I might add. )

does the hans123 breakout "cover" the major news-event times ? ( in that, the breakout is taken "after" the most popular times for news events, and thus in their direction? )

also consider the two separate breakout times, one the early morning european trading, and the second trade taking into account the us trading volatility.
there is an underlying logic to the plan, which is maybe why it appears to be profitable, ie; a clever combination of breakouts in the context of major trading events re: european and us opening times.

cant wait for Monday.

 

[dc2000]

I await with interest this weeks trading of the Hans method I am interested to see if traders will hold as they are supposed to or if the temptation to take early profits will kick in and what effect this will have on the profitability of it.

As I plan my trading tomorrow Im wondering if the first Hans range will be 1.7671 to 1.7737

 

[Kaffee]

A couple of things about Hans strategy:-

1) It only has a couple of 120 pip positions per month
2) The bread and butter of the system is the closing of positions at midnight (so that rules out SBetting)
3) You have to trade BOTH pairs
4) You're stuck at your screen until your positions can be moved to b/e

Do not change ANYTHING about the system, otherwise you are no longer trading Hans123 and past results are meaningless.

Good luck.

 

[Baruch]

A couple of things about Hans strategy:-

1) It only has a couple of 120 pip positions per month
2) The bread and butter of the system is the closing of positions at midnight (so that rules out SBetting)
3) You have to trade BOTH pairs
4) You're stuck at your screen until your positions can be moved to b/e

Do not change ANYTHING about the system, otherwise you are no longer trading Hans123 and past results are meaningless.

Good luck.

I don't understand the idea with Hans123 that you have to close your positions at midnight - if you do that, you maybe cut your profits. Why not just use the trailing stop until your stopped out?

 

[Kaffee]

I don't understand the idea with Hans123 that you have to close your positions at midnight - if you do that, you maybe cut your profits. Why not just use the trailing stop until your stopped out?

What trailing stop ?? It trails the position until it's at +40 (??) for cable, you bang the stop to breakeven and that's it, it runs until midnight or is closed out at breakeven.

So if you get to 119 pips up on cable and it reverses to b/e.... you've lost 119 pips in effect !

A couple of times I've seen it get to +100, reverse, and end up closing out at midnight at approx +40 or so... which would p!ss me off big time. But that's the system !!

 

[Kaffee]

I await with interest this weeks trading of the Hans method I am interested to see if traders will hold as they are supposed to or if the temptation to take early profits will kick in and what effect this will have on the profitability of it.

As I plan my trading tomorrow Im wondering if the first Hans range will be 1.7671 to 1.7737

You scare me at times with these predictions. That Genesis system still for sale ?

 

[trendie]

You scare me at times with these predictions. That Genesis system still for sale ?

my thoughts too. I read the genesis thread, and the feedback appears to be positive.
( apart from hooya )
the only criticism was the badly worded manual. no real criticism of the strategy.

 

[superspurs]

You scare me at times with these predictions. That Genesis system still for sale ?

i agree id be interested in it

 

[Baruch]

my thoughts too. I read the genesis thread, and the feedback appears to be positive.
( apart from hooya )
the only criticism was the badly worded manual. no real criticism of the strategy.

Where can we see the Genesis thread?

 

[trendie]

Where can we see the Genesis thread?

I think Kaffee also posted the link last week.

http://www.trade2win.com/boards/showthread.php?t=10424&page=1&pp=10&highlight=genesis

 

[Baruch]

What trailing stop ?? It trails the position until it's at +40 (??) for cable, you bang the stop to breakeven and that's it, it runs until midnight or is closed out at breakeven.

So if you get to 119 pips up on cable and it reverses to b/e.... you've lost 119 pips in effect !

A couple of times I've seen it get to +100, reverse, and end up closing out at midnight at approx +40 or so... which would p!ss me off big time. But that's the system !!

Kaffee,

Your right. There's no traidling stop in the rules. But how can you get profits like 61 pips (10.11) or 97 pips (10.13) without a trailing stop? According to the rules you get a loss, a b/e or a profit of 120 pips in Cable and 80 in euro.

 

[trendie]

Kaffee,

Your right. There's no traidling stop in the rules. But how can you get profits like 61 pips (10.11) or 97 pips (10.13) without a trailing stop? According to the rules you get a loss, a b/e or a profit of 120 pips in Cable and 80 in euro.

unless it gets closed out at midnight.

 

[Kaffee]

Kaffee,

Your right. There's no traidling stop in the rules. But how can you get profits like 61 pips (10.11) or 97 pips (10.13) without a trailing stop? According to the rules you get a loss, a b/e or a profit of 120 pips in Cable and 80 in euro.

LOL. Are you winding me up ? Go on, I'll play along. These are the "close at midnight" trades.

 

[Baruch]

unless it gets closed out at midnight.

Yes, off course. I think we have to change the rules a little bit if we have to trade this system... :cheesy:

 

[dc2000]

Mrng Chaps

Genesis is not currently available for sale, The only criticism was the way the manual was worded, this has lead me to look at a web based signal generation which I have yet to implement.

 

[dc2000]

As for todays trading currently looking for 740 with a stop at 95

as I type it dives stop now B/E@ 89

 

[Baruch]

What is the Hans123 range today?
Cable: 1.7815-1.7750
Euro: 1.2255-1.2225