Hey guys,
You may or may not have seen me post something like this previously. This is a new and hopefully improved version of anything you may have seen before. Check out the video for a much clearer understanding of the method. Video can be viewed at Best to watch it in HD.
Basically it is a breakout type system that does not use any technical indicators at all. Just price and a few horizontal lines on the chart. I was part of a trading team that use to trade this on three pairs only, and these were on 1hr charts, where we had a weekly profit target and then call it quits. It was successful but physically draining due to the requirement to check the charts at the top of each hour. Then there were some other issues with the team, so we called it quits.
I did demo this on multiple pairs on the 4hrs charts some time back and had some hugely successful months followed by some very flat months. I had modified the rules somewhat and was being pretty aggressive with reducing the risk as soon as possible, which led to a lot more trades than were necessary. But I could see potential with it.
I decided to revisit the idea and just go back to the original rules, with a few other tweaks. I've got a pretty good framework on where to start but I am hoping for some feedback on how to really improve on it. I did discuss a couple of ideas on the video, where I talked about closing out half the position at +200 pips and then moving the 2nd half to no worse than break even. If the SAR was on the wrong side of the entry, then I would use a hard stop, but keep the SAR in place for a new reversal trade anyway. It would be preferred if the SAR was on the good side of the entry point, so it would be trading as normal. Another thing I was considering, is the possibility of looking at a larger position size for entry after a losing trade. Not martingale and it would just be limited to either one or two trades only. Something along the lines of once the previous loss was recovered, close out half to cover that and let the remaining half continue on as usual. Something I would have to play around with.
Also not sure if there is a chance of turning it into an EA, or at least a semi auto EA. I have spoke to my Programmer in the past about it and she was pretty confident she could come up with something. It can get a little confusing setting the orders manually and you have to double check everything, and ensure you cancel old orders etc. Keep in mind that you will only be modifying orders when your SAR is moved, as all the other times you are just moving yellow lines around the chart.
Looking forward to other traders thoughts on this one, whether good or bad.
You may or may not have seen me post something like this previously. This is a new and hopefully improved version of anything you may have seen before. Check out the video for a much clearer understanding of the method. Video can be viewed at
Inserted Video
Basically it is a breakout type system that does not use any technical indicators at all. Just price and a few horizontal lines on the chart. I was part of a trading team that use to trade this on three pairs only, and these were on 1hr charts, where we had a weekly profit target and then call it quits. It was successful but physically draining due to the requirement to check the charts at the top of each hour. Then there were some other issues with the team, so we called it quits.
I did demo this on multiple pairs on the 4hrs charts some time back and had some hugely successful months followed by some very flat months. I had modified the rules somewhat and was being pretty aggressive with reducing the risk as soon as possible, which led to a lot more trades than were necessary. But I could see potential with it.
I decided to revisit the idea and just go back to the original rules, with a few other tweaks. I've got a pretty good framework on where to start but I am hoping for some feedback on how to really improve on it. I did discuss a couple of ideas on the video, where I talked about closing out half the position at +200 pips and then moving the 2nd half to no worse than break even. If the SAR was on the wrong side of the entry, then I would use a hard stop, but keep the SAR in place for a new reversal trade anyway. It would be preferred if the SAR was on the good side of the entry point, so it would be trading as normal. Another thing I was considering, is the possibility of looking at a larger position size for entry after a losing trade. Not martingale and it would just be limited to either one or two trades only. Something along the lines of once the previous loss was recovered, close out half to cover that and let the remaining half continue on as usual. Something I would have to play around with.
Also not sure if there is a chance of turning it into an EA, or at least a semi auto EA. I have spoke to my Programmer in the past about it and she was pretty confident she could come up with something. It can get a little confusing setting the orders manually and you have to double check everything, and ensure you cancel old orders etc. Keep in mind that you will only be modifying orders when your SAR is moved, as all the other times you are just moving yellow lines around the chart.
Looking forward to other traders thoughts on this one, whether good or bad.
JAGfx