1 year, 6 pairs, 1 lot, daily chart, 504 signals, 13942 pips profit

[4xfool]

Here is the latest backtest for my very very simple trading LONG TERM methodology. According to the info in the backtest engine on the charts, spread is accounted for already since there is an input for spread in the backtest stuff. Anywhoo, the numbers are good, the signals come one a day at most. Is it realistic to trade off the daily charts if these numbers are "spot on". I also included a 25 point stop loss in doing this backtest. Thats why all the losses average right around 25-30 pips. Would this perhaps be a good system to implement in an auto trading system? All it requires is patience which is something most of us are lacking. My question is what is out there to incorporate auto trading systems? Without giving away your system?? Or I guess checking the charts or having the charts send me an alert isnt that hard!! I find that trading for hours at a time is very stressful so once a day is much more appealing, at least to me. What I'm really really curious about is are these numbers that good or do lots of people find their backtested systems perform like this but cant do it in "real life"? Mine is a simple system based on "closed" daily candlesticks so not a lot of room for the backtest to mess up really. But like I said, is it too early to get excited over this? and has anyone else designed a system that backtests with numbers like these. I really want to know. Thanks...

P.S. I only did the 4 MAJORS and the GBP/JPY and the EUR/JPY. I tested other like the CAD and AUS but these six were by far, the best performers.

[Trevman]

13942 pips in a year is good (at least in my books it is)

test it for 3 months forward, if you still get good results forwards test it another 3 months. if you still get good results consider going live with a mini account.

[4xfool]

Maybe I should just post the current signals for all these pairs and just post when they change. The thing is...its boring since it only generates one signal per day. And if you get stopped out, you're out until the end of the day. It seems too boring for most people but the numbers are the best for ANY timeframe I've designed systems for. At least ones with no time restraints. Shorter term is good if youre in the right hours but thats sometimes hard to do. Yeah, so I'll just keep the current directions and alerts posted on here, I guess. Thanks for the idea...

Whats funny is I really thought the GBP and EUR were going to drop but my system was still a BUY for both of them. See what happens when I think!!!
SO since these might change after the close today, I'll post what the signals indicated from yesterday.

USD/JPY - BUY at 105.39 or better (I hate the JPY, never obeys the rules!)
USD/CHF - NOTHING NEW - Was still a SELL from 2-10-05 at 1.2084
EUR/USD - DITTO - Was still a BUY from 2-10-05 at 1.2875 or better.
GBP/USD - DITTO - Was still a BUY from 2-11-05 at 1.2687 or better.
EUR/JPY - Was a BUY on 2-9-05 from 135.25 or better.
GBP/JPY - Was a BUY on 2-24-05 at 201.21 or better. Would have been stopped out today unless you were able to enter at 50% retracement of previous days range [Which it did hit and catapulted off of at 200.58]. Usually a good place to enter. Either way it goes, youre still in a good place.

See...BORING!!!

I just noticed something. Check out these numbers on CURRENT OPENED TRADES:
EUR/USD - +348
GBP/USD - +484
EUR/JPY - +380

Just thought that was kinda cool....

[tim_nn]

Originally Posted by 4xfool

The thing is...its boring since it only generates one signal per day. And if you get stopped out, you're out until the end of the day.

Originally Posted by 4xfool

It seems too boring for most people ...

That's perhaps the most encouraging sign of all. The successful application of a reliable system with a real edge is almost inevitably boring. I wish you very well with it: sounds good to me.

[fxscalper90]

Originally Posted by 4xfool

Here is the latest backtest for my very very simple trading LONG TERM methodology. According to the info in the backtest engine on the charts, spread is accounted for already since there is an input for spread in the backtest stuff. Anywhoo, the numbers are good, the signals come one a day at most. Is it realistic to trade off the daily charts if these numbers are "spot on". I also included a 25 point stop loss in doing this backtest. Thats why all the losses average right around 25-30 pips. Would this perhaps be a good system to implement in an auto trading system? All it requires is patience which is something most of us are lacking. My question is what is out there to incorporate auto trading systems? Without giving away your system?? Or I guess checking the charts or having the charts send me an alert isnt that hard!! I find that trading for hours at a time is very stressful so once a day is much more appealing, at least to me. What I'm really really curious about is are these numbers that good or do lots of people find their backtested systems perform like this but cant do it in "real life"? Mine is a simple system based on "closed" daily candlesticks so not a lot of room for the backtest to mess up really. But like I said, is it too early to get excited over this? and has anyone else designed a system that backtests with numbers like these. I really want to know. Thanks...

P.S. I only did the 4 MAJORS and the GBP/JPY and the EUR/JPY. I tested other like the CAD and AUS but these six were by far, the best performers.

Nice going but backtesting doesn't work.

Run the system on a live account for a year then post your results.

I highly doubt you'll make 14,000 points.

This week I made over 1400 points profit on my live fx acct trading 12 pairs. Last week over 1700 points trading 7 pairs. All with extremely low risk.

If you forward that by 52 weeks = over 73,000 points for the year trading a live account and I don't consider myself nearly as good a trader as I could be. I am sure there are others who WAY outperform those numbers.

To all the 'traders' whose money I took this week because you have inferior systems to mine I want to say "Thank you!"

And, Mishak, if you lost any money to me just let me know and I'll give it back to yah! "Sorry! Here ya go, Mish!"

fx

[4xfool]

Why doesnt backtesting work?? It's not a complicated process. Please explain why it doesnt work.

[fxscalper90]

Originally Posted by 4xfool

Why doesnt backtesting work?? It's not a complicated process. Please explain why it doesnt work.

For a host of reasons.

One is, trading live, minute by minute, hour by hour, day by day.... lots of different stuff comes down in the fx market. Extreme stuff. Extreme price moves and swings. Things that would destroy a backtested system when traded in a live setting with real money. Take it from me, I've had lots of very good systems totally demolished in live trading conditions.

Backtesting does not account for your emotions, your mental and psychological state of mind over a 8760-hour trading period (total hours for 1-year).

People.... do things differently in a live state of trading than simple backtesting takes in account for.

That's why backtesting doesn't work.

I appreciate your hard work, man, I really do. You keep up your hard work approach to trading and I am certain you will advance.

The only way to get anywhere trading forex when you first begin is by trading a demo(s). Once you get SEVERAL good trade set-ups, go on to open a live account and MAKE SMALL TRADES!

Build your trade unit size up gradually, using the profits you made to increase your account size.

Many times I thought I had finally developed the rad system(s) just to have the market teach me otherwise.

Remain a 'student of the market' - it is your best way to excel and advance. One day you may even make it to 'trader' status.

Don't be afraid to trade your arse off on a demo(s) for a year. It doesn't make you a wimp. Each person will advance at a different rate than another. Even after close to a year and a half, yes I trade a live acct but still have demo-testing(s) running on the side, of systems I hope to eventually implement in live trading. I won't bring them to the market in live trading until I am certain they won't get obliterated.

f

[forex1]

Originally Posted by fxscalper90

This week I made over 1400 points profit on my live fx acct trading 12 pairs. Last week over 1700 points trading 7 pairs.

I still think overload aka coinz was hotter than this