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Baruch's Forex System Journal
- Thread starter Baruch
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"Whatever men attempt, they seem driven to try to overdo. When hopes are soaring I always repeat to myself, "Two and two still make four and no one has ever invented a way of getting something for nothing". When the outlook is steeped in pessimism I remind myself, "Two and two still make four and you can't keep mankind down for long".
Quote from FX_Cowboy:
No doubt about it, that was a great run, and well played -- there's a lesson in holding on to winners in what he did last week. But if I catch the drift of what he has been saying since, his adding on to trades at the century mark was not a complete strategy in itself, but rather a way to stay in the trade in a sensible, well defined way. You might want to consider it as an add-on to your strategy -- it's definitely something I'll keep in mind! (Still, would be interesting to back test a strategy that in itself was based on price passing through the round numbers. Hmm...)
LOL, now you're talking! The Bernard Baruch Memorial hedge fund!
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"It is not the critic who counts; nor the man who points out how the strong man stumbled, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs and comes short again and again; who knows the great enthusiasms, the great devotions; who spends himself in a worthy cause; who, at the best, knows in the end the triumph of high achievement, and who, at the worst, if he fails, at least fails while daring greatly so that his place will never be with those timid souls who know neither victory or defeat."
Backtesting is OK, but realtime trading is better. Let's trade our two systems and let's see which one is the best.
They are both good, because:
1. They catch all the major moves.
2. They limit losses.
They both have problems, because:
1. There are no sure rules for exit (trailing stops are OK, but not perfect).
2. They will give many losses in a choppy market/trading range.
Agree Baruch, both strats will indeed prove difficult in ranging mkts, and the stop loss (trade management) debate is a continuous bone of contention regards trend following strats. But as far as âwhich strat is bestââ¦.hmmm, although they have similar objectives, the entry/management & structure of them are very different imo.
Yours works perfectly, returning good, consistant profits from the methods you adopt, and mine evolves in to a trend strat from an intraday perspective, so really, theyâre very different in their make up. I donât think either strat is better or worse even in similar trading environments. There will be periods when yours produces very consistant returns and vice versaâ¦..I initiate entries via a shorter time frame & scale lots out at pre â defined stages, attempting to catch a move by leaving part of my position live in the market with a b/e stop. Where as you trade off the 30 min frame with defined entry/exit rulesâ¦.There are many individual quirks & personal observations which each trader uses to base their decisions when managing a trade, some of them intuitive, so itâs very difficult & virtually impossible to compare like for like.
Take this morning for instance, my intraday entry confirmed 3 long trades on the cable, I scaled out at part stakes, leaving remaining lots at b/e stop, only to be tipped out on the p/b from the round number failure on my remaining stake(s).
The objective of my strat is to capture small intraday moves, whilst maintaining a âliveâ stake at b/e until sufficient movement allows to trail the stop on a potential trend move away from entryâ¦â¦very different to your entry/trade management structureâ¦..I guess as long as both strats produce profit, then they fulfill their purpose.
ps: have had difficulty posting this morning?!....each time I attempted to post, the page simply went blank & refused to upload the post??
Yours works perfectly, returning good, consistant profits from the methods you adopt, and mine evolves in to a trend strat from an intraday perspective, so really, theyâre very different in their make up. I donât think either strat is better or worse even in similar trading environments. There will be periods when yours produces very consistant returns and vice versaâ¦..I initiate entries via a shorter time frame & scale lots out at pre â defined stages, attempting to catch a move by leaving part of my position live in the market with a b/e stop. Where as you trade off the 30 min frame with defined entry/exit rulesâ¦.There are many individual quirks & personal observations which each trader uses to base their decisions when managing a trade, some of them intuitive, so itâs very difficult & virtually impossible to compare like for like.
Take this morning for instance, my intraday entry confirmed 3 long trades on the cable, I scaled out at part stakes, leaving remaining lots at b/e stop, only to be tipped out on the p/b from the round number failure on my remaining stake(s).
The objective of my strat is to capture small intraday moves, whilst maintaining a âliveâ stake at b/e until sufficient movement allows to trail the stop on a potential trend move away from entryâ¦â¦very different to your entry/trade management structureâ¦..I guess as long as both strats produce profit, then they fulfill their purpose.
ps: have had difficulty posting this morning?!....each time I attempted to post, the page simply went blank & refused to upload the post??
Quote from Baruch:
Backtesting is OK, but realtime trading is better. Let's trade our two systems and let's see which one is the best.
They are both good, because:
1. They catch all the major moves.
2. They limit losses.
They both have problems, because:
1. There are no sure rules for exit (trailing stops are OK, but not perfect).
2. They will give many losses in a choppy market/trading range.
Both systems made good buy signals this morning.
Quote from Buk:
Agree Baruch, both strats will indeed prove difficult in ranging mkts, and the stop loss (trade management) debate is a continuous bone of contention regards trend following strats. But as far as âwhich strat is bestââ¦.hmmm, although they have similar objectives, the entry/management & structure of them are very different imo.
Yours works perfectly, returning good, consistant profits from the methods you adopt, and mine evolves in to a trend strat from an intraday perspective, so really, theyâre very different in their make up. I donât think either strat is better or worse even in similar trading environments. There will be periods when yours produces very consistant returns and vice versaâ¦..I initiate entries via a shorter time frame & scale lots out at pre â defined stages, attempting to catch a move by leaving part of my position live in the market with a b/e stop. Where as you trade off the 30 min frame with defined entry/exit rulesâ¦.There are many individual quirks & personal observations which each trader uses to base their decisions when managing a trade, some of them intuitive, so itâs very difficult & virtually impossible to compare like for like.
Take this morning for instance, my intraday entry confirmed 3 long trades on the cable, I scaled out at part stakes, leaving remaining lots at b/e stop, only to be tipped out on the p/b from the round number failure on my remaining stake(s).
The objective of my strat is to capture small intraday moves, whilst maintaining a âliveâ stake at b/e until sufficient movement allows to trail the stop on a potential trend move away from entryâ¦â¦very different to your entry/trade management structureâ¦..I guess as long as both strats produce profit, then they fulfill their purpose.
ps: have had difficulty posting this morning?!....each time I attempted to post, the page simply went blank & refused to upload the post??
Buk,
Yes, ET was down earlier today.
I agree with you: ..."as long as both strats produce profit, then they fullfill their purpose".
Yes, maybe it's better calling them strats rather than systems...
sorry i've been away for a while. i have been spending some time in the lab and at
www.mentorfortraders.com
www.mentorfortraders.com
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