Don't SELL, just BUY it

indratime · #1 (**permalink**) 05-04-2007, 10:25 PM

Before tell anything, pardon me because my english is very2 bad.
Hi guys, i have new idea for trading system.
How if we only buy, and never sell
I have backtest from 2005 till now, because my meta only have that data.
Just buy when RSI < 30
TP 150pips
No SL
Trail stop 100
i use GBPJPY for backtest in TF H4
i'm not trading this system now, but maybe i will after i have a lot of money

.
you (programer), i hope can explore this. so we can know how use this idea.
Thanks a lot to your attention.

adriann · #2 (**permalink**) 05-04-2007, 11:15 PM

Hi, Hmm interesting idea anyway

).
IMHO on GBP/JPY that is mostly trending pair it can works for one side i mean for your just long entry.

.

going to explore that

drayco · #3 (**permalink**) 05-04-2007, 11:29 PM

What period RSI ?

indratime · #4 (**permalink**) 05-04-2007, 11:32 PM

i use standart setting, 14
but you can explore the best setup
thanks

And thanks to Adrian too

indratime · #5 (**permalink**) 05-05-2007, 12:36 AM

my second explore
setup
RSI 14
TF H4
NO TP
NO SL
NO TRAIL STOP

Go Long if
RSI < 50
Close[1] > High[2]

Close Trade if
RSI > 80
Close[1] < Low[2]

I find this idea because i remember about BUY low and SELL High
Thats mean (imho) we only trade(enter) if price is low. And exit if Price is high.

And Dont trade(enter) if price to High

nicesurf · #6 (**permalink**) 05-06-2007, 04:13 AM

I really like this simple system.

Thks

Nic

Craig · #7 (**permalink**) 05-06-2007, 05:35 AM

Any old crap works awsome with no stop loss, if you dig that sort of self delusion you should check out the Stienitz thread.

indratime · #8 (**permalink**) 05-06-2007, 08:31 AM

Quote:

Originally Posted by Craig

Any old crap works awsome with no stop loss, if you dig that sort of self delusion you should check out the Stienitz thread.

Yes you right, All trade with no SL will work awesome, because Stop Loss is broker spread game.
If you will use SL, use it manual.
just like Oanda, they can wide their spread to 200pips in second.

Craig · #9 (**permalink**) 05-06-2007, 09:59 AM

You are correct, Oanda does widen the spread to titanic levels, to counter this blatent market making I use the bizzare and counter intutive stratergy of using another broker.

drayco · #10 (**permalink**) 05-15-2007, 09:02 PM

I still like this method. This is one cool indicator that may go with it .......
http://www.forex-tsd.com/indicators-...rsi-level.html