Forex



Go Back   Forex Trading > Discussion Areas > Suggestions for Trading Systems
Forex Forum Register More recent Blogs Calendar Advertising Others Help






Register
Welcome to Forex-TSD!, one of the largest Forex forums worldwide, where you will be able to find the most complete and reliable Forex information imaginable.

From the list below, select the forum that you want to visit and register to post, as many times you want. It’s absolutely free. Click here for registering on Forex-TSD.

Exclusive Forum
The Exclusive Forum is the only paid section. Once you subscribe, you will get free access to real cutting-edge Trading Systems (automated and not), Indicators, Signals, Articles, etc., that will help and guide you, in ways that you could only imagine, with your Forex trading.
  • Elite Section
    Get access to private discussions, specialized support, indicators and trading systems reported every week.
  • Advanced Elite Section
    For professional traders, trading system developers and any other member who may need to use and/or convert, the most cutting-edge exclusive indicators and trading systems for MT4 and MT5.
See more

Reply
 
Thread Tools Display Modes
  #1 (permalink)  
Old 11-23-2006, 08:44 PM
Senior Member
 
Join Date: Oct 2006
Posts: 123
fx_geezer is on a distinguished road
Easy GBP/USD System

What do you guys think of this system?

---------------------------------------------

At 5PM EST:

1- Close out any open positions
2- Cancel any unexecuted orders
3- Set an Entry Buy order 1 pip above previous high
4- Set an Entry Sell order 1 pip below previous low
5- Set stops and limits using the following guidelines:

50 pip profit target, 25 pip stoploss if ADR ABOVE 200
40 pip profit target, 20 stoploss if ADR BETWEEN 175 and 199
30 pip profit target, 15 stoploss if ADR BELOW 175

Do no trade if ADR is below 100

-----------------------------------------------

How to calculate ADR (Average Daily Range):

It may be easiest to use an excel spread sheet for this.
Take the H/L for each day, for the past 14 days.
For each day list the amount of pip's between the H and L
Example. H = 1.5623 L = 1.5586
5623 – 5486 = 137
Add the total amount of pip's for all 14 days and divide it by 14.
This will give you the average daily range.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!StumbleUpon this Post!Reddit this Post!Facebook this Post!BlinkList this Post!Google Bookmarks this Post!Yahoo! My Web this Post!
Reply With Quote
  #2 (permalink)  
Old 11-23-2006, 09:35 PM
Member
 
Join Date: Nov 2005
Posts: 53
donb01 is on a distinguished road
Quote:
Originally Posted by fx_geezer
What do you guys think of this system?

---------------------------------------------

At 5PM EST:

1- Close out any open positions
2- Cancel any unexecuted orders
3- Set an Entry Buy order 1 pip above previous high
4- Set an Entry Sell order 1 pip below previous low
5- Set stops and limits using the following guidelines:

50 pip profit target, 25 pip stoploss if ADR ABOVE 200
40 pip profit target, 20 stoploss if ADR BETWEEN 175 and 199
30 pip profit target, 15 stoploss if ADR BELOW 175

Do no trade if ADR is below 100

-----------------------------------------------

How to calculate ADR (Average Daily Range):

It may be easiest to use an excel spread sheet for this.
Take the H/L for each day, for the past 14 days.
For each day list the amount of pip's between the H and L
Example. H = 1.5623 L = 1.5586
5623 – 5486 = 137
Add the total amount of pip's for all 14 days and divide it by 14.
This will give you the average daily range.


this is an old system, saw similar system to it a couple years ago on another forum the guys were going to take a $300 account to $1 million, they made it to $20 + thousand and the thread stopped. I do not know if the market changed on them or what happen.

Give it a go on demo account. the money management they were doing was starting at $300 and trading $1 per pip, once they doubled the account then they would double the trade size (once the account hit $600 then they went to $2 per pip, to $1200 then $4 per pip etc.....)

Good luck
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!StumbleUpon this Post!Reddit this Post!Facebook this Post!BlinkList this Post!Google Bookmarks this Post!Yahoo! My Web this Post!
Reply With Quote
  #3 (permalink)  
Old 11-23-2006, 10:09 PM
Senior Member
 
Join Date: Oct 2005
Posts: 220
smeden is on a distinguished road
Would be nice with an EA
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!StumbleUpon this Post!Reddit this Post!Facebook this Post!BlinkList this Post!Google Bookmarks this Post!Yahoo! My Web this Post!
Reply With Quote
  #4 (permalink)  
Old 11-23-2006, 10:40 PM
matrixebiz's Avatar
Senior Member
 
Join Date: Oct 2006
Posts: 1,218
matrixebiz is on a distinguished road
Quote:
Originally Posted by fx_geezer
What do you guys think of this system?

---------------------------------------------

At 5PM EST:

1- Close out any open positions
2- Cancel any unexecuted orders
3- Set an Entry Buy order 1 pip above previous high
4- Set an Entry Sell order 1 pip below previous low
5- Set stops and limits using the following guidelines:

50 pip profit target, 25 pip stoploss if ADR ABOVE 200
40 pip profit target, 20 stoploss if ADR BETWEEN 175 and 199
30 pip profit target, 15 stoploss if ADR BELOW 175

Do no trade if ADR is below 100

-----------------------------------------------

How to calculate ADR (Average Daily Range):

It may be easiest to use an excel spread sheet for this.
Take the H/L for each day, for the past 14 days.
For each day list the amount of pip's between the H and L
Example. H = 1.5623 L = 1.5586
5623 – 5486 = 137
Add the total amount of pip's for all 14 days and divide it by 14.
This will give you the average daily range.
Has it been working for you? I'm new, how do I check what the H/L has been every day? Does it work with other currencies?

Last edited by matrixebiz; 11-23-2006 at 10:43 PM.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!StumbleUpon this Post!Reddit this Post!Facebook this Post!BlinkList this Post!Google Bookmarks this Post!Yahoo! My Web this Post!
Reply With Quote
  #5 (permalink)  
Old 11-23-2006, 11:19 PM
Nicholishen's Avatar
Senior Member
 
Join Date: Dec 2005
Posts: 531
Nicholishen is on a distinguished road
Ya, this was an easy one.... Happy Thankgiving! Please let me know how this works out for you.

Also, you'll have to work on the ADR values. The ADR for the last two years is only 124.
Attached Files
File Type: mq4 GBPUSD_tsd_v1.mq4 (4.9 KB, 579 views)
__________________
"Anyone who has never made a mistake has never tried anything new." -Albert Einstein

Last edited by Nicholishen; 11-23-2006 at 11:26 PM.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!StumbleUpon this Post!Reddit this Post!Facebook this Post!BlinkList this Post!Google Bookmarks this Post!Yahoo! My Web this Post!
Reply With Quote
  #6 (permalink)  
Old 11-24-2006, 01:17 AM
Senior Member
 
Join Date: Oct 2006
Posts: 123
fx_geezer is on a distinguished road
I haven't manually tested the system. But I have just backtested the EA. Whoops, this system eats my account fast. Not sure if its the actual system, or the actual EA. Hmmm...
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!StumbleUpon this Post!Reddit this Post!Facebook this Post!BlinkList this Post!Google Bookmarks this Post!Yahoo! My Web this Post!
Reply With Quote
  #7 (permalink)  
Old 11-24-2006, 03:15 AM
matrixebiz's Avatar
Senior Member
 
Join Date: Oct 2006
Posts: 1,218
matrixebiz is on a distinguished road
Quote:
Originally Posted by Nicholishen
Ya, this was an easy one.... Happy Thankgiving! Please let me know how this works out for you.

Also, you'll have to work on the ADR values. The ADR for the last two years is only 124.
What does this do?
Thanks
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!StumbleUpon this Post!Reddit this Post!Facebook this Post!BlinkList this Post!Google Bookmarks this Post!Yahoo! My Web this Post!
Reply With Quote
  #8 (permalink)  
Old 11-24-2006, 03:46 AM
Senior Member
 
Join Date: Mar 2006
Posts: 793
Maji is on a distinguished road
Quote:
Originally Posted by fx_geezer
I haven't manually tested the system. But I have just backtested the EA. Whoops, this system eats my account fast. Not sure if its the actual system, or the actual EA. Hmmm...
Geezer,

The system worked when the markets had some volatility. However, as Nich pointed out, the volatility has left the market and these breakout systems are now languishing. That is why you see that kind of losing results.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!StumbleUpon this Post!Reddit this Post!Facebook this Post!BlinkList this Post!Google Bookmarks this Post!Yahoo! My Web this Post!
Reply With Quote
  #9 (permalink)  
Old 06-23-2007, 03:21 AM
Junior Member
 
Join Date: May 2007
Posts: 1
magic016 is on a distinguished road
Smile

set up entry buy order 1 pip above previous high but which high? for the day or the last hour or what?
Quote:
Originally Posted by fx_geezer View Post
What do you guys think of this system?

---------------------------------------------

At 5PM EST:

1- Close out any open positions
2- Cancel any unexecuted orders
3- Set an Entry Buy order 1 pip above previous high
4- Set an Entry Sell order 1 pip below previous low
5- Set stops and limits using the following guidelines:

50 pip profit target, 25 pip stoploss if ADR ABOVE 200
40 pip profit target, 20 stoploss if ADR BETWEEN 175 and 199
30 pip profit target, 15 stoploss if ADR BELOW 175

Do no trade if ADR is below 100

-----------------------------------------------

How to calculate ADR (Average Daily Range):

It may be easiest to use an excel spread sheet for this.
Take the H/L for each day, for the past 14 days.
For each day list the amount of pip's between the H and L
Example. H = 1.5623 L = 1.5586
5623 – 5486 = 137
Add the total amount of pip's for all 14 days and divide it by 14.
This will give you the average daily range.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!StumbleUpon this Post!Reddit this Post!Facebook this Post!BlinkList this Post!Google Bookmarks this Post!Yahoo! My Web this Post!
Reply With Quote
  #10 (permalink)  
Old 06-24-2007, 04:52 PM
Senior Member
 
Join Date: Jan 2006
Posts: 404
nicesurf is on a distinguished road
Who has been using the strategy ? And how is the profit ?
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!StumbleUpon this Post!Reddit this Post!Facebook this Post!BlinkList this Post!Google Bookmarks this Post!Yahoo! My Web this Post!
Reply With Quote
Reply

Bookmarks


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off
Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
The TrendStuffer System - easy trend prediction for everyone! SirKhan Commercial Trading Systems and indicators 817 11-02-2009 04:25 PM
Easy but working system, let´s improve it ! mr.trader Suggestions for Trading Systems 24 11-16-2008 05:12 PM
Easy Euro system WNW Manual trading systems 18 04-15-2007 08:50 AM
Need Help with easy EMA!!!!! palexa Suggestions for Trading Systems 2 11-26-2006 03:45 AM
Easy or Hard to do? creative Metatrader 4 11 03-04-2006 12:06 AM


All times are GMT. The time now is 07:09 AM.



Search Engine Friendly URLs by vBSEO 3.2.0 ©2008, Crawlability, Inc.