I am in Chicago, central time. Hope I got that right, time always confuses me. Longs , shorts Not too shabby, but a bigger problem. The equity curve showed a tremendous drawdown right in the middle, dropping from a high over 13,, back close to 3,, then, recovering. Maybe that's what they mean by, "All systems fail and usually right after I start trading them. Thanks for the work. When I calculated my pip average, I just took the total and divided by the number of months, so my average was about the same as yours but I was using 8 pairs instead of 4.
There is definitely a difference between my brokers candles and yours. I am on the west coast and my new daily candle is at 5pm PST. What I want to do now is look at what the difference would be if we take the break of the candle close for long or short instead of the high or low. I will redo the spreadsheet tomorrow and see what it looks like. Been following this with interest.
Would be interesting if someone with more tech-skills could play around with modifiers - in particular with the question of: Big SL or smaller 50 pip etc.
Reviewing trades to date in june, system is struggling, i am showing the portfolio about I'm keen to backtest this myself. Pipwoof, your results are similar to most positive-expectancy systems I've backtested so far.
I never seem to get anything better than 0. I am definitely interested in doing my own backtest. Have you considered moving your SL to yesterdy's low if going long, or yesterday's high if going short? Even though the sample size is small, this suggests that trading this method with the prevailing trend may yield better results, at least in terms of expected value, perhaps not total pips, though.
Hi Pipwoof, this looks like a simple breakout strategy, simple is good. I think you could improve results buy only taking entries in the direction on the trend and focusing on the strongest currencies and matching them to the weaker. I think you might also find that many of these breakouts will happen during the early hours of the London session. So if you are in the US east coast, you would put your entry order in before going to bed and hopefully wake up to some pips in your account.
I look forward to hearing more about this. I like systems like yours and in past I also tried many systems based on spread sheet calculations. Your excel seems to have two mistakes which I also made at the beginning: An example is the The high is 1, The Open price of the next day is already 1, you will never get the 1, as entry price.
The same is in the other directions. The spread is an essential factor for your success. The spread at fxprimus is about 0. You have to consider this in your calculations.
If you consider both points, the result in your excel in column G is only But so far, this seems to be an exercise in putting on a position, watch it draw down my account, then take it off. There are a large number of other victims' accounts with similar stories over at FPA.
Free Forex Trading Systems. Hi pipwoof, I like systems like yours and in past I also tried many systems based on spread sheet calculations. I have seen this the same strategy of Headge Report by Brian Campbell.More...