1. Sold at 1.2928, closed when new crossover materialized (1.2934): -6 pips
2. Bought at 1.2934, 50-pip trailing stop hit (1.2884): -50 pips
3. Invalid signal, RSI did not cross 50
4. Bought at 1.2925,closed when 50-pip trailing stop hit (1.3004): +79 pips
5. Sold at 1.2998, closed when crossover materialized (1.3023): -25 pips
6. Invalid signal, RSI was already way above 50
7. Sold at 1.2997, closed when new crossover materialized (1.3023): -26 pips
8. Invalid signal, RSI was already above 50 for two bars
9. Sold at 1.3037, closed when 50-pip trailing stop was hit: 0 pips
10. Bought at 1.3048, closed when 50-pip trialing stop was hit: +87 pips
11. Sold at 1.3106, trade still open Total Gain/Loss: +59 pips
The pips gained this week weren't as many as the weeks prior, but given how the market moved in the past few days, I think a 118-pip net gain is actually prettttttttty good! Besides, would you rather have a losing system or a winning one?
One thing that I have noticed that the Trend-Catcher 3.0 lacks is that it does not distinguish between each week. This means that when prices gap up or down over the weekend, there is a chance that the system can get into bad trades due to huge gaps. I saw it this week, when price started the week with a huge gap down. Hmm, perhaps put in a rule to close any open positions before the week ends? That way, weekend risk can be avoided.
EUR/USD
I wasn't able to trade EUR/USD on my live account yesterday. I fell asleep when the pair broke above the previous day high. At first I was pretty bummed about it, then I noticed that the pair was just consolidating around 1.3150. And so, I thought that it might not be such a good idea to go long on the pair anymore. After a few more minutes, lo and behold, EUR/USD tumbled back to its day open price. Whew!
It looks like investors weren't happy that the ECB still hasn't come up with a debt deal with Greece. Consequently, the dollar was able to pare some of the losses it scored following the dovish FOMC statement.
So there, no trade for me in my live account this week. But it's all good. Scoring three straight losses is bad enough as it is. I don't want to extend my losing streak to four so I'm being extra careful now. Hopefully next week will be better.
That's all, folks! Y'all have a great weekend!
XOXO,
Huck
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On Friday January 27th, 2012 at 09:49PM by RazorX - Like - 0 People
Heck yeah Huck - any net pips over zero is good! Congrats, sure looks like that system is working for you. I take it you are not trading it live from your comments?
On Saturday January 28th, 2012 at 08:00AM by Lil_Pip - Like - 0 People
On Saturday January 28th, 2012 at 02:17PM by don555 - Like - 0 People
Huck what is the criteria for the trend catcher 3
On Sunday January 29th, 2012 at 10:17AM by RamenHero - Like - 0 People
On Sunday January 29th, 2012 at 06:52PM by Wilson - Like - 0 People
Since a 4 hour chart rules over a 1 hour , and the 4 hour chart is a BUY since the 18, Why not just trade the
one hour buys. Forget the SELLS.
Here, you have a total of 116 PIPS
On Sunday January 29th, 2012 at 07:02PM by Wilson - Like - 0 People
If the 4 hour was in Range Trading, then you would both buy and sell.
If the 4 hour was in SELL format, you would only Sell on the one hour Sell points or candles.
On Sunday January 29th, 2012 at 07:29PM by don555 - Like - 0 People
Wilson I do not understand what you mean, sorry for being so thick can you give me a better explanation.
On Sunday January 29th, 2012 at 07:33PM by Wilson - Like - 0 People
Do you understand were the 116 pips come from.
On Sunday January 29th, 2012 at 07:48PM by Wilson - Like - 0 People
Do you understand that the 4 hour chart above is in a BUY trend .
Here is Hucks trades shown in TOTAL format
On Sunday January 29th, 2012 at 08:04PM by Wilson - Like - 0 People
You think that well', Huck did make 2 pips on the SELL side so why not go both ways. How much did her spread cost her. Let say 3 PIPS. She did 4 Trades on the SELL side and therefore she did not make 2 PIPS there but it cost her (4tradeX-3PIPs)+2PIPS=-10PIPS
And on the BUY side it cost her -9 PIPS
On Sunday January 29th, 2012 at 08:15PM by Wilson - Like - 0 People
On the Buy side, she would have 116PIPS - 9 PIPS = 107 PIPS.
On Sunday January 29th, 2012 at 09:23PM by Wilson - Like - 0 People
Also. note that the last trade was still open on the SELL side. say a gain of 59 PIPS . This will not be the case next week when it is updated. See chart below
On Monday January 30th, 2012 at 03:10AM by Huck - Like - 0 People
Wilson, you are saying that I should mimic Pip Surfer's system where he only gets into trades that go with the overall 4-hour trend?
On Monday January 30th, 2012 at 04:38AM by Wilson - Like - 0 People
Of course not Huck. I had not that in mind at all. I have not looked at Pip Surfers trading system in about 18 months. I do not have time tonight to review it. There are a few rules about Pip Surfers system that is totally different here. I am going by memory and maybe Pip Surfer has change some of his rules. So if I am wrong, I will write here in this blog and let all know how my memory has failed me. I will look again at his system when I have time.
Memory 1. Pip Surfer shuts down his trading when NEWS is about to happen.
Memory 2. Pip Surfer only trades the New York open to close.
In my mind, this is totally different.
I am not telling you to change your system to mimic Pip Surfer nor am I telling you to do it because I said so. Really, this is about getting OTHER people to think and try out slightly different systems. Please keep doing what you are doing and let someone else experiment with this suggestion.
Wilson
XOXOXO
On Monday January 30th, 2012 at 05:28AM by Wilson - Like - 0 People
PS : I would love to see these two systems run in the MEETPIPS TRADERS CONTEST
Are there any takers out there.
Yes, I know, its a 24 hour commitment.
Pip Surfer`s system is not a 24 hour commitment.
On Monday January 30th, 2012 at 05:45AM by Wilson - Like - 0 People
On Monday January 30th, 2012 at 10:10AM by Huck - Like - 0 People
It will be an honor Wilson. Go ahead and use my system! :)
On Tuesday January 31st, 2012 at 02:06PM by Wilson - Like - 0 People
My goodness! I think Huck has really turned me on to RSI-50. I just love it.
Never used this indicator before.
On Wednesday February 1st, 2012 at 01:53PM by Wilson - Like - 0 People
Here is another idea with HUCKS Trend Catcher 3
One draw back, how do you catch the RR6,and RR24
Risk is 20
Reward is 60
So far this week 240 PIPS
Risk 2% per 10 PIPS
Total gain since Sunday, 24%
On Wednesday February 1st, 2012 at 01:59PM by Wilson - Like - 0 People
OOPS that should be RISK 1% per 10 PIPS
Still is a 24% gain.
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