Advanced system #14 (Simple trading with Daily range)

Hi all,

regarding Indrek's recent comments, I too had a good start with this strategy but have given all the profits back due to the current ranging market, so be careful.
Andy

I backtested it manually, so I did use previous day's range not ADR. Calculating ADR manually would be too difficult for a lazy person like me :)

Hi Indrek,

Thanks for your valuable input. Just a quick question, how did you backtest this from 1 April as the ADR indicator only shows the latest average daily range and can not show the range for past days?

thanks

Hi User,
I meant that most pairs have been ranging not trending, i.e this breakout system is not working right now. You have to be careful if you really want to use it because the most probable result is a huge loss.
Indrek

Hi Indrek,

what do you mean by this will not work for last few days? Do you mean the last few days of the month?

Hi Stuart,
could you tell me what is the best version of your strategy ? I mean the first original above or upgraded by PIVOT, TS, ADR, ATR ,.....? Place actual version please. Ivan Slovakia

David,
It seems to me that the system described by Batavier is not exactly the same with the Stuart's system. I am afraid that if we start discussing it here, we will be lost. I suggest that either Batavier or you address Edward for opening a special thread to discuss the Batavier's idea. What do you think?
Indrek

Hoping again that Batavier will check-in with us.

I think results might be a good deal better if the SL is moved up or down with the price. For example, (using the ideas of your May 15 post) if price hit your 30 line I would move my SL up to no less than entry resulting in NO loss on the third contract as opposed to being stopped out at -30. While more conservative, this might save many pips from being lost. It would be my way, not necessarily best for other more clever traders.

I think all I am saying is that your results will be more diverse, and successful, than the four cases presented. If price moves even 30 pips from entry you could lock in a 45 pip gain (15 + 30) for each successful pair. The potential is quite significant while minimizing the risk of significant loss.

Looking forward to your findings.

Best, David

Hi Stuart,

Just came across this site. How has your trading been going and do you use still use your original method?

thanks
Todd

So, is anyone still using the strategy?

Rob

Greetings Daily Range traders --

I read Batavier's May 15 post with interest: three entries targeting gains of 15, 30, or 50 pips taking entries at close +/- 5. I admit this is quite appealing to me and am hoping for a first round of demo results from Batavier.

I appreciate this may, in fact, become a related but new trading system . . . there are some profound changes here, but it is a worthy idea.

Batavier, please let us know how it's going.

Best regards to all, David

Rob is most probably right that different pairs need different approach. E.g., I have noticed during last days that very big movements of JPY pairs happen btw 5 and 6 GMT. So, if we set our entries after 7 GMT, it may be awfully late.
At the same time, setting all positions at the same time is very comfortable. Maximum time that I want to spend on my trading is 10-15 minutes for setting the positions in the morning and then 1-2 minutes after every 1-2 hours to close the pending opposite positions.
Indrek

Hello Rob,

I have been reading this thread with great interest. Firstly Stuart thanks for all your input and a great idea. As there have been so many examples and tweaks along the way I wanted to make sure I have understood the "final" outcome. On my demop system I lost today so clearly Rob and I are doing something different. I have attached an example spreadsheet to show my workings and any comments most appreciated. I am using previous 24 hours range rather than adr is that correct? I presume 7.00 AM GMT is the best time and the rule that if the range between high and low is less than 100 use 100. Feel free to email me if you need any more background info at [email protected].

Thanks in advance

Daniel

Everybody, be careful, this strategy has not worked during last days!
Indrek

Today's results!

USD/JPY 0 - I was too late to get a trade on this pair.
GBP/USD 42
USD/CHF 8.7 - entered late - should have got 27 pips
EUR/USD 40
EUR/CHF 13
AUD/USD 0 - not filled as of 13:00GMT
GBP/JPY 0 - I was too late to get a trade on

Total 103.7 pips

I'm wondering if we should use different timeframes for entry for the pairs involving JPY? If we place trades on JPY pairs at 7:00GMT, this is before the end of the Asian session?

Any thoughts appreciated!

Many thanks,

Rob