Numerical Price Prediction Challenge

GBPUSD has traverse about a 42-pip stop loss to kick me out of my long position. It will probably be a while before I get the signal to reenter another GBPUSD long position. However, I did already get the go ahead to buy GBPJPY a second time.

EURGBP looks to be in the upper regions of a range it has been bound by for the last six weeks at 0.8822, so I might look to short the pair if the opportunity presents itself during my non-sleeping hours.
 
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traider said:
NDAs give me too much headache, hopefully don't have to go that route... Just making lawyers $$$ instead of poor traders
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Sure, that’s fine. I will simply maintain NPP as a proprietary trading system used exclusively by yours truly, which is what I should probably do anyway. But thanks for your interest, nonetheless!
 
expiated said:
GBPUSD has traversed about a 42-pip stop loss to kick me out of my long position. It will probably be a while before I get the signal to reenter another GBPUSD long position. However, I did already get the go ahead to buy GBPJPY a second time.
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I also got the go ahead to buy EURJPY a second time, but I realized only a 23-pip gain. What’s up with that? Did I not take a 2-pip spread into consideration when setting my take-profit target?

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Also, I was waiting for my moving averages to give me the go ahead to enter another GBPUSD long position, but THAT WAS A MISTAKE in that the pair’s STRUCTURE was such as to justify entering a long position immediately and possibly having already made up my prior loss.

Going forward I will need to REMEMBER to ALWAYS take into consideration BOTH position AND structure when determining if, when, and where to execute my trades.
 
I went ahead and scalped a few more pips profit off AUDUSD again before reentering another position for the long haul, and I’m glad I did because I discovered my position size was only 0.01 when I thought I had entered 1.00.

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If I had been looking for simply 25 pips out of GBPJPY instead of like 60 or something, my take-profit target would have been hit maybe an hour ago, so I went ahead and cashed in about 18 pips for now and reentered another long position.

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I have more confidence in this little experiment than I did yesterday, so I am upping my standard positions sizes from 0.01 to 0.05.

Also, I think I’m going to stop posting entries in this journal now. It’s becoming pretty clear to me that this new approach is going to work out just fine, so there’s no call for me to keep posting my activity play-by-play.
 
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expiated said:
Probably any question I might have in regard to how I can use Numerical Price Prediction to successfully scalp the Forex market via a guerrilla style of trading has been answered, so I am now going to try upping my game to another level by setting a personal challenge in the form of a 25 pip minimum profit requirement.

The variables are direction, size of stop loss (anything between 5 to 25 pips) and time of entry. My aim is to open up a position at least twice per week, per currency pair, and my preference would be to avoid overnight costs.

Three factors I want pay particularly close attention to are if there is a best time of day, whether there is a best stop loss setting, and how much time typically transpires before each position closes (if indeed there is a norm).

In short, I am looking to improve on my current performance by remaining in trades for more extended periods of time.
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What are the currency pairs and broker that you are using for this strategy?
 
Events over the second 24 hours of attempting to employ the Numerical Price Prediction system in more of a swing than scalping style appear to be suggesting to me that I should assign structure with much greater precedence over position—without a doubt!

I believe that doing so is likely to return my success rate back to the 90% neighborhood (to which I am accustomed) in contrast with the pitiful 50% territory where it is now.

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I would also note that my last losing trade would have been a winner had I set my stop loss at 25 pips according to the “rules” as opposed to the nearest local low, which seemed to “make sense” at the time due to its providing better risk-to-reward in the form of a tighter stop. (I was asleep at the time I was stopped out and therefore missed my opportunity to reenter the trade to recoup my loss, and then some.)
 
pipeguy said:
What are the currency pairs and broker that you are using for this strategy?
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I haven’t noticed that currency pairs or broker have much bearing at all, if any, on the system’s success. In fact, a brief evaluation of its application to commodities and equities suggests it will work just as well, if not better, in those arenas too, but I have yet to prove that this is true.

Nonetheless, I will go ahead and answer your questions since there are no reasons not to. I’m currently using a Varchev demo account to trade AUDUSD, EURGBP, EURJPY, EURUSD, GBPJPY, GBPUSD, USDCAD, USDCHF and USDJPY.

For real-life trades I use OANDA, which includes all of the above assets plus AUDJPY, CADJPY, CHFJPY, EURAUD, NZDJPY, and NZDUSD.
 
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