in regards to the 27/23 system

[blanca]

Hi Greg,

Yes you´re right the 50 sl is the thing that worries, it´s a big stoploss if you consider that each time you make an entry you have 50 pips of sl, if harold would be so kind of answering this i´d appreciatte it a lot, thanks.

[gregh285]

this week,
Monday +22pips
Tuesday -50pips
Wednesday +99pips
Thursday +20pips

This system has one thing going for it, it is a SYSTEM. The money management principles are strict and if the rules are obeyed it could prove to be a worthy system.
Harold, is it possible to backtest every day this week to see if the results comply with these.

[franfx]

In principle, this system should work in every trending market so it should work in Eur and GP as well. I looked at a set of random days on the Eur and found that range days tended not to be filled, which is good because it keeps you out of whipsaw action. However, on some days you are buying the high or selling the low and although you may not be stopped for 50p, you would have to set a very specific time to exit and then backtest that time. If you exited just end of session, it looked like the average loss was about 20p on days when the market did not continue with the trend. I'm not clear on how it makes 50p net yet overall.
I'm going to try to write it in EL and see if I can get some backtest results.

[harold4x]

greg the close was 3110 +27 = buy at 3137 it went as high as 3168 that is 31 pips higher the least you should have tooken today is 20 pips it is 20 for 50 pip but i started it on monday and made my goal of 50 per week. since jan 6 till present there was 1 week with a 30 pip loss another week with a 10 pip gain and the rest were 50 pip wins check it out for your self and prove me wrong

[ryang]

Hi Greg

Did you use hourly data to calculate your numbers??

I did a visual back test for the last 10 days on 15M chart and got a few different results

I used the following money mgmt....once the trade got to +20 SL to BE, once it got to +30 move SL to+20 and move up every 10 pips.

13/10 Buy 3244 closed 3244 (gto to 20 pips so SL was moved to BE)

14/10 Sell 3259 closed 3139 for 120

15/10 Buy 3305 closed3325 for 20

16/10 Sell 3279 closed 3249 for 30

20/10 Sell 3343 closed 3303 for 40

21/10 Sell 3311 closed 3291 for 20

22/10 Sell 3256 closed 3156 for 100

23/10 buy 3138 closed 3138 for 0

Quite interested to hear from others. My HI for the 23/10 was 3167 so the SL did not move to +20.

Ryan

[franfx]

Harold: Are you saying that this system only works on the Swiss? Is there a reason for that?

[harold4x]

i have been trading the last 4 years and have only chosen to trade the swiss only for these reasons: it moves the most in a day(obvious) the pound is unreliable too many consolidation periods the yen has to many interventions and why trade the euro when it mirrors the swiss in reverse so all my trading strategies are all based on the swiss

[harold4x]

i have been trading the last 4 years and have only chosen to trade the swiss only for these reasons: it moves the most in a day(obvious) the pound is unreliable too many consolidation periods the yen has to many interventions and why trade the euro when it mirrors the swiss in reverse so all my trading strategies are all based on the swiss by the way guys all my prices are based on gft forex charts. if anyone wants to back test any system they have charts dating back several years