TP = SL Discussion

Hello would you mind give a hint of what type of analysis your using? 😄

Hello,
does anybody try to understand a logic of this system? Let's try together.
I have try and think that Franz uses a trailing stop, which moves in minus... for example... He has a position with TP 10 and SL 10.. If price goes to +1, sl moves to -9, if goes to +2 sl moves to -8 etc... but we should understand does his EA use SL 10 or less... step of Trailing (because I have never seen a trade in history with -10 pesult).
The biggest lost, which I have found in recent history is -7. So.. If trailingstop is 7 (for example) and stop loss is 7 and step is 1 we will have:
-7 if price goes to negative
-6 if price goes to 1 pip from open price
-5 if price goes to 2 pip from open price... etc.
Some trades will be closed in minus by Trailing stop, some in plus by Trailing stop, some hits TP +10.
It's just my suppose... what do you think? let's discuss..
PS I have an EA, which moves SL im minus

Forwarder,

That idea doesn't seem to bad it requires some testing also I see plenty of by short trades and long trading in row, maybe some kind of moving average is in use, The hit rate is 47% meaning the indicator in use hasn't got a large statical advantage

My shot as follows buy every bar open (5,15,or 30 TF) above X period average use TP=10 and SL =10 Trail stop until either profit is hit or stop loss.

Peter

hello
I send you email , and pm , please answer me ?
why dont answer yet ?

Mprinze posted:
    Forwarder,

That idea doesn't seem to bad it requires some testing also I see plenty of by short trades and long trading in row, maybe some kind of moving average is in use, The hit rate is 47% meaning the indicator in use hasn't got a large statical advantage

My shot as follows buy every bar open (5,15,or 30 TF) above X period average use TP=10 and SL =10 Trail stop until either profit is hit or stop loss.

Peter

I don't think so, the statistical advantage of the used indicator must be indeed very high if the system reaches a hit rate of 47% using tp=10 and trailing sl=7+spread. Writing an ea using the asumed tp and sl values is quite simple, but the key to success are the used indicators/filters.

Hello, The point I was trying to make is that the advantage is not that great considering it only has a 3% advantage when compared to tossing a coin at 50% The first thing I would do is to place the stop and the profit target at 10 pips . If we buy every bar the hit rate should be around 50%. We can then add a filter to see if we can improve the performance.

Currently I have a bar pattern that can average around 60% strike. We can add this as a filter also

Peter

Hi guys, sorry I couldn't answer all the posts, but I am trying to improve this system and also have my own plans. I will not sell the system, but I might do Money Management if somebody is interested. Write to [email protected] and I will send you some more info.
Cheers.

Mprinze posted:
    Hello, The point I was trying to make is that the advantage is not that great considering it only has a 3% advantage when compared to tossing a coin at 50% The first thing I would do is to place the stop and the profit target at 10 pips . If we buy every bar the hit rate should be around 50%. We can then add a filter to see if we can improve the performance.

Currently I have a bar pattern that can average around 60% strike. We can add this as a filter also

Peter

I think the comparision to tossing a coin is bad, if you open order in random direction you still have to mess around with the spread. So the probability of closing the random order with tp ist about 30% depending on spread. Vica versa probability to hit sl ist 70%.

Columbus posted:
    Hi guys, sorry I couldn't answer all the posts, but I am trying to improve this system and also have my own plans. I will not sell the system, but I might do Money Management if somebody is interested. Write to [email protected] and I will send you some more info.
Cheers.

Franz I want to have information regarding money management. I sent you an email , Please give me information at [email protected] , I am looking for your response 😄

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Falk Posted
I think the comparision to tossing a coin is bad, if you open order in random direction you still have to mess around with the spread. So the probability of closing the random order with tp ist about 30% depending on spread. Vica versa probability to hit sl ist 70%.
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Yes I agree with spread but if you only buy you can average around 53% which is an advantage in itself. The point I'm trying to make is that having 47% strike rate with money management is all that is required. There we only have to work on our Risk to reward. I'm sure Franz system is not complicated.

Peter

Forwarder posted:
    Hello,
does anybody try to understand a logic of this system? Let's try together.
I have try and think that Franz uses a trailing stop, which moves in minus... for example... He has a position with TP 10 and SL 10.. If price goes to +1, sl moves to -9, if goes to +2 sl moves to -8 etc... but we should understand does his EA use SL 10 or less... step of Trailing (because I have never seen a trade in history with -10 pesult).
The biggest lost, which I have found in recent history is -7. So.. If trailingstop is 7 (for example) and stop loss is 7 and step is 1 we will have:
-7 if price goes to negative
-6 if price goes to 1 pip from open price
-5 if price goes to 2 pip from open price... etc.
Some trades will be closed in minus by Trailing stop, some in plus by Trailing stop, some hits TP +10.
It's just my suppose... what do you think? let's discuss..
PS I have an EA, which moves SL im minus

I like this idea for the t/p and s/l.. process.

The other thing that would help determining which direction the EA goes would be some kind of grid system. That would be super cool even if it doesn't match Franz System. This can open one trade only in a grid range, when the trade reaches a s/l or take profit another trade is open if trade was positiive than EA keeps opening postiion that way.

Hey Franz,

I forward my buddy your info so he can invest with the minimum you told me.
I told him if he can do one for me too. I am doubting he will put up the money for me. But I think he
he is very interested in you managing his money. So he is doing it for him for sure.

Keep up the good work... love your EA.

Columbus posted:
    Thanks, appreciate it. Yes, I am enjoying it and wanted to kind of show off here on myfxbook. I read just some of the comments and must say that some of them are quite questionable, especially from the people who post repeatedly. Anyway, just follow the performance, let's see how long everything works out!! I am trying now other brokers, so far I can say that it seems to work out pretty well. Once I have made my part to secure a comfortable retirement I will start selling the EA, but the purchase needs to be a direct payment as a donation to Unicef or SOS Kinderdorf. I need to check how this actually can be done.

Happy trading to everyone, don't give up, success IS possible!

Franz

I'll bet my last dollar that in most Forex trading forums, there are those with tall poppy syndrome constantly bashing anything successful. You are not selling anything neither are you managing funds for any one why the vicious bashing? I always give people the benefit of doubt and time normally does set apart genuine traders from shonks. The fact that some have tried so hard and never had such success doesn't mean no one else can do it. If it hasn't been done doesn't mean it can't be done. Even if your system went burst, well you have reaped the rewards. Good luck.

Columbus posted:
    Hi guys, sorry I couldn't answer all the posts, but I am trying to improve this system and also have my own plans. I will not sell the system, but I might do Money Management if somebody is interested. Write to [email protected] and I will send you some more info.
Cheers.

Hi Franz
I did send you couple of emails expressing interest in your offer of 'Money Management' not sure if you received it.
Should I keep sending emails or should I wait for answer. Don't like to be bother.
Congrats on your success.
Regards
Bizking (from Hobart)

You have make a perfect EA that give to all of us a great hoop.
 Im bored to see and test EAs that allways loosing. Nothing like yours, even near.
I´l be happy if can have Ea with 10%-20% a month.

Thanks

bizking posted:
    

Columbus posted:
    Hi guys, sorry I couldn't answer all the posts, but I am trying to improve this system and also have my own plans. I will not sell the system, but I might do Money Management if somebody is interested. Write to [email protected] and I will send you some more info.
Cheers.

Hi Franz
I did send you couple of emails expressing interest in your offer of 'Money Management' not sure if you received it.
Should I keep sending emails or should I wait for answer. Don't like to be bother.
Congrats on your success.
Regards
Bizking (from Hobart)

Its the same with me...
Hope there will be answeres soon..

Yes, and meanwhile I'm trying to make enough money with my system to be able to buy YOUR system, once you decide to sell it. Because you WILL sell it, right? 😎

This looks FUN! So many trades and such a high hit rate. Even with the high(er) spreads of GU. And, open history!
This is one of the few EAs that impress me. Except for the name!!! TP = SL ? Anyway good one!

This trading system is fantastic! Congratulations, Columbus!
I have had a look at some trades in a 5-second timeframe and I found the entries to be extremely good.
Sometimes they were even better than the best price at my Interactive Brokers price feed - and their prices are one of the best. Therefore, I am wondering whether the entries exploit some sort of arbitrage between different price feeds. For example, I have found a buy trade which was entered at 1.5500 on 2010-11-30 04:32, but the lowest ask price I could find at Interactive Brokers, Oanda and Dukascopy was 1.5509. So in this trade, the EA was ahead +9 pips from the beginning!
In that sense, it would be very interesting to know the broker which allows such fantastic entries.