in regards to the 27/23 system

[harold4x]

well in back testing looking to get 50 pips minimum for the week and shuting down for rest of weekas the goal. from jan 6 till this week there were winning weeks of 50 except 2 .One was a 30 pip losing week and the other was a 10 pip win the reason for 50 only is if you use this kind of money management technique where you start with say 10000 and start with 10 per pip and increase it to 11 per pip when equity gets to 11000 and so on you would have about 65000 too many trades too many chances for losses. there were maybe 10 trades where it hit stop in same day some i recouped the same day only if the next hourly candle kicks me out i would have gotten in again other wise take the 50 pip loss and go back tomorrow and go at it again there was no 2 consecutive losses in a row

[ryang]

Hi

interesting topic... is it a daytrade? or do you hold it until it hits your stop? Do you trade the system every day.... I gather if you make your 50pips on Monday you dont trade for the rest of the week???

What do you do if you have a loss on Monday and Tuesday... do you keep trading the system until the end of the week or until you make your losses back and get to target 50 pips


Thanks

Ryan

[harold4x]

your right if i hit mark on monday i am done. if in the 11am to 12pm hour if 50 pip have not been achieved i look to get as many as possible and get the difference tomorrow.so in trading since jan 2003 there has not been consecutive losing days in the week that i lost 30 pips there was a loss then a win then a 20 pip win then a loss thats been it for this year every other week was met execpt for 1 10 pip win week

[ryang]

HI

Great thanks for that.... looks very promising. Thanks for the clarification about looking to close the trade at 11-12EST

Ryan

[blanca]

Today again it was a profitable day, it gave 30 pips, and as we saw on tuesday it gave like 110 pips, i have the same question, do you trade this system everyday, until at least you get 50 pips?, or what happens like in this week you already achieve 140 pips, do you stop trading, is it a system that can be done everyday, thanks a lot

[harold4x]

if you trade with money management like i explained in originalpost you can turn a great profit with 50 pips per week. let me explain something it is hard enough to win in forex there are those that say they make 120 + a day etc. but from my expierence prove it to me and i will follow. i believe the less times you have to go to the well the less chance you have to fall in. lets say hypothetically you started with 10000 and you had a mini acct where you can trade with 10000 lots(that would be $1.00 per pip) and you started out trading at 10.00 per pip that would be a risk of only 5% of equity and increase lot pip size for every 1,000 acct grows like if acct got to 13,000 trade at 13.00 per you would have taken the 10,000 and turned it into over 60,000 already hypothetically speaking you do the math thats why i picked the # 50 pips per week(a nice fib# also)

[gregh285]

blanca,
how did you work this out. USD/CHF close at 1.3109 bid. Buy fill at 13136. Stop to b/e at 13156, then 10 pip trail. Hi achieved at 13166, 30 pips in profit, rolling stop at 20pips profit.

Result 20pips for 50pip SL.

[franfx]

I don't understand your initial stop. I presume you are placing two orders: One long +27 and one short -23. Whichever gets filled that's your direction. Then your stop is 50 pips away from your entry point, or the "spread" that you mentioned in your first post?