Advanced system #14 (Simple trading with Daily range)

Sorry, I forgot copy the link in my previous post. Here it is
MySheet_1.xlsx

Thank you,
Regards,
Keith

Hi Takahashi,
Thanks for your reply. I just look at GPB/JPY only and agree that it can't move more than 300 pips per day. I don't see the SL in your above trades? You didn't set SL? I've tested Stuart's strategy for two weeks on demo account. Below is the result. Do you record your result? If so could you post here for comparison?

Thank you,
Regards,
Keith

Hi Keith

If the daily pivot point is 130.25 My orders will be as follows ;

1- buy limit order 128.25 sell 128.75 ( TP 50 pips )
2- buy limit order 127.25 sell 128.25 ( TP 100 pips )
3- sell limit order 132.25 buy 131.75 ( TP 50 pips )
4- sell limit order 133.25 buy 132.25 ( TP 100 pips )

In my opinion currency usually does not move far more than 300 pips from the daily pivot point, it must return back to its pivot point
level within 48 hours or sometimes a little more. I checked it from the past 3 months history record. any recommendations or ideas will be greatly appreciated if I am not correct.
Looking forward for your opinion.
Takahashi

Hi Takahashi,

Thanks for sharing your system. Just want to ask you a question for confirmation. You said that you place "limit sell/buy", does it mean you will buy if the price goes down and hit (pivot point - 200 pips) and sell if price goes up and hit (pivot point + 300pips). Is the TP for limit sell 50 and TP for limit buy 100 pips respectively? And what is your SL?

Thank you,
Regards,
Keith

Hi Alex,
According to Stuart, after the 24 hour period you need to close all open trades manually, taking profits, or accepting the loss.
Basically, when you set up new trades, you can close old ones.

Regards,
Edward

Hi Stuart,

I started to use one of your strategy ( SL 25%-10pips, ADR(10), 5PM EST ) since Monday. It won all days except last night. Score's 4:1 :). Now I want to give a try SL 100pips but I'm not sure what I should do if my position at the end of the day still stays open - just close or let it run ( for how long?). Please advise. Thank you for sharing with us your great strategy.

Alex

Hi Stuart
First of all thanks for your strategy, it really works. After many tests and studies I was using a strategy from the last two years and it was really workable. Now I am using both the strategies ( mine and stuart strategy )
and it really have a good performance better than before. Let me explain first my strategy ( very simple and no indicator )
First of all I calculate the daily pivot point levels for GBP/JPY. for example the pivot point is 154.32. I put my limit sell/buy orders 200 pips and then 300 pips away from the pivot point. and put my TP from 50 to 100 pips each.
Simply it works and my TP hits with 48 hours or sometimes longer. I cancel my pending orders and keep the open positions as it is. and put the new orders every day. My english is not so good , and may be i was not able to explain properly.
do u understand what i wanted to explain.

Takahashi ....Japan

Hi Edward,

Thanks for the latest sheet. However, I will keep testing the current sheet.I will post my result at the end of this month and will try the revised excel sheet during August then we could compare the results.

Best wishes,
Keith

Hi Keith,

I'm very grateful you've risen this topic.
The excel sheet had few mistakes in formulas.

Here is the revised version which meets the following latest rules by Stuart:
Entry - 25% of the previous day move
Take profit - same 25% of the previous day move

The following changes were added last time:
- there is a fixed SL of 100 pips.
- if previous day move is under 100 pips, change the excel sheet data manualy to 100 pips so that your entry is minimum 25 pips away (25%), OR don't trade that pair.

LATEST_25_MOVE_1_rev.xls

Best regards,
Edward

I've made a mistake in my previous post, the formula of 2 SL columns are the same. The TPs are fine.

Best Regards,
Keith

Hi Edward,
Glad that you're back on this strategy and it's really sad for me that Stuart had left.
I've just known this awesome website for last couple weeks but it's really helpful for beginners like me so please keep your work good.I appreciate any help from you and other true traders who willing share their knowledge with others rather than steal system of other people.
I found this strategy is profitable and keep testing it on my account.About the spreadsheet, I've adjusted a bit because I personally think Stuart has made a small mistake on formula of SL and TP.Actually, I gained 400 pips for first week I tested it. (It may not a huge amount of pips for someone but it encouraged me a lot). However, Edward, if you have time please take a look at this and correct if it's wrong. I will post my testing result soon.
Best Regards,
Keith

As long as there are weird people who are ready to pay for information that is available for free, there will always be dishonest people who try to sell this kind of information.
Very sad to lose the contact with Stuart... This system looked very promising, just needed some further development. As I found out that it does not suit with my trading psychology, I moved on. But I will keep this system always in mind and maybe return to it at some phase.
Indrek

I wouldn't call it dead yet, since I'm here to support it, although I'm not as quick with replies as Stuart. I'll have a look at the excel sheet in few days.

I was told that Stuart had left the thread after learning that his strategy is being sold by some not so bright trader who's got no sense of respect of the authorship rights... I very much regret that our best efforts here were treated with such disrespect.

Despite this sad fact, we should carry on, for the rest of our conscientious traders who deserve the best.

Regards,
Edward

Stuart disappeared a long long time ago, I think this thread is already dead.

@User: Making a sheet is absolutely easy but be sure that all the formula are correct is not such that easy. Because I'm not the author of this strategy so I need confirmation from its creator, Stuart. That's what I think.

@Stuart: Please check the formula in 2 Stop Loss columns in Latest_25_Move.xls (March 28, 2009 - 17:11) again. They're the same now
Best Regards,
Keith