DislikedPharaoh, good going.I'm going to put it on a demo and take it for a test run next week. With smarts like that, no wonder you were King of Egypt.
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DislikedPharaoh, good going.I'm going to put it on a demo and take it for a test run next week. With smarts like that, no wonder you were King of Egypt.
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DislikedLol I'm a perfectionist, I just see some things that others don't, or can't.Ignored
Dislikedif u want a real breakout.. than use real support and ressistance levels not this box.. altho the box does get lucky sometimes... most of your plays won't be real breakouts.. they will be trends.. and trends will retrace back into the box.. to set the lower high (in a downtrend) for example......Ignored
DislikedI just looked at the 2009 data from Danno and isolated whereever he identified 2 trades occurred. I focused on the second set of data where SL is moved to BE after TP1. This is a part of my strategy.
3 trade sets where the first trade was a loss
- Net pips: -254
4 trade sets where the first trade was a BE
- Net pips: +618
4 trade sets where the first trade was a Winner
- Net pips: +947Ignored
DislikedNo, I believe you should make as many trades as possible to get that big movement, however, I think those trades should be managed on a much tighter level to reduce the amount of 1 trades loss. Normally when a breakout occurs, it occurs very nicely, there is no retrace really when the price actually bust's out and stays out.
I suggest personally, if your going to work with a % of breakout Zone for stoploss, make it like 15%, that way, if you loose out on 4 trades, you only lost a total of 60% of the box, and normally, it only takes 4 or 5 times...Ignored
DislikedNo, I believe you should make as many trades as possible to get that big movement, however, I think those trades should be managed on a much tighter level to reduce the amount of 1 trades loss. Normally when a breakout occurs, it occurs very nicely, there is no retrace really when the price actually bust's out and stays out.
I suggest personally, if your going to work with a % of breakout Zone for stoploss, make it like 15%, that way, if you loose out on 4 trades, you only lost a total of 60% of the box, and normally, it only takes 4 or 5 times...Ignored
DislikedI had the same reaction . . . if it works out, maybe in a year or so we can claim to have thought of it. By then, there will be 10,000 posts on this thread and who's going to look back through that many posts to find out we're lying.
I checked the box for this week and if SL were set at 15% of the box, it would have been 25 pips this week. That seems REALLY tight, but even if I chose to go with 25%, I could sustain a number of false breakouts and still be profitable.
Pharaoh, good going.I'm going to put it on a demo and take...
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DislikedThis is a 95% mechanical system, and every trade has been noted down in excel as well as on a live basis.Ignored
DislikedHi Ace,
i think you should save your energy for those interested in your system.
Whoever took your method should responsible for their own action, they should know how much they can risk rather than making nonsense remarks when they lose $$$.
We are adults, we responsible for our own choices.
I support your system as I choose to do so & choose to take this commitment.Ignored
DislikedSandy,
I took a look at every one of these trades, but came up with some vastly different results. Maybe I misinterpreted the data, so I'd appreciate your feedback because I would prefer to accept your results rather than my more dismal results on the same trades. I was 100% in favor of taking second trades, but after doing my own back test and then reviewing yours, I'm less confident than I was before. Of course, if the SL was lowered, as has been suggested by others, that could change the outlook significantly.
I noted where I see a discrepancy...Ignored
DislikedSandy,
Thanks for the response. I agree . . . Danno is to be commended for his work, and my response was not intended to be critical of Danno or you. The issue raised was whether second trades, especially a second trade after a losing trade, are worth taking, and I think that's what we're all interested in answering.
With that said, here's my responses to your responses, if that makes sense:
#3 We agree on the starting time for this trade, but take a look at the 12:00 candle on 4/29. Price reached TP1, and we would have moved the SL to BE...Ignored
DislikedTop post coulnt agree more..there is about 6/8 post here besides ACE who are on the mark..the rest should pull their heads in..stop running interference on the thred.Maby a second thred for the second and third stringers..To dribble on on....or just delete their posts..Ignored
DislikedTop post coulnt agree more..there is about 6/8 post here besides ACE who are on the mark..the rest should pull their heads in..stop running interference on the thred.Maby a second thred for the second and third stringers..To dribble on on....or just delete their posts..Ignored
DislikedThe results with the semi-martingale (see post #2785 & #2790) from danno's download, as compared to Ace's method without the semi-martingale are as follows: [in pips]
2002: +1555 vs. -519
2003: +5303 vs. +3468
2005: +2685 vs. +49
2006: +2340 vs. +1496
2007: +4215 vs. +7474
2008: +7572 vs. +4135
2009: +7381 vs. +5028 (up thru 8/10/09)
I guess the results are self-evident...
WaltIgnored