Waiting

It’s taking a little longer than I imagined to get my stuff through from the bank so trading hasn’t commenced yet and it’s unbelievably frustrating as this week has been a clean sweep for TUFXP. I don’t know what it is about the new method but there is no denying it works incredibly well. It seems to capture the early morning move perfectly.

As ever, my mind began to think if it was possible to recreate the sort of success on another pair or index. I received an email from a friend about 5 weeks ago with a strategy for trading the daily FTSE 100. It’s been performing pretty well but unfortunately my broker only offers the FTSE 100 futures. I don’t have the spare funds either to dedicate to another broker or spreadbettor to concentrate on the FTSE solely. So with this in mind, I set about finding the symbol code for use with IQFeed and TESS. I’ve found the futures symbol and trading on the exact same basis as GBPUSD except for starting at 8am when the market opens. Since May 1st it has recorded 15 trades with 3 losses and 12 wins for a profit of 159 pips. A very worthwhile addition. I’m going to keep tracking it until end of May and then monitor the July Future FTSE for June and then make a decision from there but so far, so good.

Has anyone else experimented with different currencies?

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    • mike
    • May 20th, 2010

    Hi
    been using the cashmaster system for a couple of weeks – and so far its got a 100% success rate.

    Whats the symbol for the ftse? i be interested in testing that out aswell.

    take care
    mike

    • Graham
    • May 20th, 2010

    Hi there,

    I tested and reviewed TUFXP for another website last year and used it extremely successfully on the GBPUSD and EURUSD. This was the original set-up, though, not any revisionist method.

    GC.

    • marco
    • May 20th, 2010

    Hiya,
    It does work incredibly well ,and if it can give us a couple of years as GG did, all the better.
    Ibeieve the trick to this method is not to overtrade it and stick to the rules.
    IF one should get two loss in a session and stop its unlikely, (according to streak theory )that you will get two loss the next day.
    The problem i had with GG in the end it was giving far to many signals in a day ,hence overtrading.
    marco

      • Dawn
      • May 21st, 2010

      I agree with you Marco, and I know John was tearing his hear out with GG in the end!! I just hope this brilliant new method will remain successful over time, having just stumbled upon it, I’m so scared it will suddenly turn around and give lots of losses! At least by just having the one trade a day, the odds are at least 50/50, even if it does lose some of its amazing success at the moment.
      Dawn

    • marco
    • May 21st, 2010

    Dawn,i dont think there is any reason to be scared as long as you are trading at no more than 2%of bank max.Itrade at 0.5 to 1% and many would call that to conservative.
    The difference between GG and the new method is GG was trading to backtesting statistics which were very healthy for a period of time.We would trade every signal 7am -3pm without really knowing where the market was going .The problem came in Jan ,Feb and March where it stopped performing and giving as many as seven signals in a two hour period.I lost 2%of my entire bank on that day.
    We have all evolved and matured as traders as well as learning a lot more about the technicals.
    The big difference with the new method is if you dont like what you see ,dont trade it.
    If all the indicators dont stack up ,stay out .
    Iuse ATM FX combined with TESS and i find it very usefull for measuring the target and the SL.
    The only real critism i have of the new method is the 35 max SL ,if you have two loss you have to make up 70+spread .This is why if all the indicators stack up and there is enough room for the trade ,i bring my stop to break even once i hit +20 and trail it by 15-20 points .
    You may get stopped out now and again (which is a pain )but it allows you to catch some big moves which should cover losing days.
    i hope this helps.
    marco
    ps
    Thanks john for setting up the blog because its good to talk

    • Dawn
    • May 22nd, 2010

    Thanks Marco for your reassuring comments, which are all very sensible! I might try trailing as well, as I agree that a few losing days would be hard to recover from.
    We must keep in touch, thanks, Dawn

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