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Anyone having any success using this system? The last few days have been terrible from what I see, atleast for the GBP pairs that I followed. EURUSD and USDCHF behaved much better than GBPUSD, GBPCHF and GBPJPY what I was monitoring.
Anyone having any success using this system? The last few days have been terrible from what I see, atleast for the GBP pairs that I followed. EURUSD and USDCHF behaved much better than GBPUSD, GBPCHF and GBPJPY what I was monitoring.
I was for a while and then a kind of stopped using it. I feel that it gives away too many pips.
Some of the other users seemed to have been doing really well, but they've stopped posting their results and commenting to questions so, maybe they're not anymore.
I was for a while and then a kind of stopped using it. I feel that it gives away too many pips.
Some of the other users seemed to have been doing really well, but they've stopped posting their results and commenting to questions so, maybe they're not anymore.
It really does not give away too many pips. You have to let these breakout systems a lot of room to breathe. In the long term that tends to be more profitable. When trading, if you are looking for instantaneous gains, then you are looking for trouble. However, if you are willing to withstand some pain and let the system do its job, you will have a better chance at success.
Were you demo trading? If you were, you got discouraged because the system lost "play money"?
I have told Igor this in a PM, that I think in the long term the system will not be profitable. I ran backtests and because the system does not really need tick level data, minute data was good enough. The results were not encouraging.
It really does not give away too many pips. You have to let these breakout systems a lot of room to breathe. In the long term that tends to be more profitable. When trading, if you are looking for instantaneous gains, then you are looking for trouble. However, if you are willing to withstand some pain and let the system do its job, you will have a better chance at success.
Were you demo trading? If you were, you got discouraged because the system lost "play money"?
I have told Igor this in a PM, that I think in the long term the system will not be profitable. I ran backtests and because the system does not really need tick level data, minute data was good enough. The results were not encouraging.
Yes, it was play money, but I was only gaining about 30pips a day with 3 pairs as opposed to 145 and 200 or so some of the other users were gaining.
I asked a couple of questions about exits (wether manual or automated) and didn't get a response. So, I just didn't pursue it.
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