Mr Blobby V2 Super Simple 1m strategy (Mr Blobby V2 Super Simple 1m strategy)
Mr Blobby V2 Super Simple 1m Strategy – by Roofx
I'm not a trading expert and I've only been trading for a little over a year. However, this year I have been putting in about 12 hours a day every Sunday and most Sunday evenings trading. I was a member of the paid teaching service for the first 6 months, and I traded on and off with a real account during the year. For the first 6 months, I devoted 16 hours a day to trading, learning, and researching, trying many strategies, and creating many of my own.
I'm sharing my current strategy here in the hope that we can discuss its pros and cons and that some of you might be able to come up with a way to filter or minimize some losing trades. This strategy is the simplest I have used so far, relying on only one indicator and nothing else. I'm using this on a cable (GBPUSD) and haven't tried it on any other pairs. It's like a robot and I think it would be very easy to write an EA for it. If anyone can do this it would be greatly appreciated. The trading window lasts a long day, but if I know how to add an audible alert to an indicator, it means I can keep working on other things in between signals. If anyone knows how to do this, or where to insert the sound alert line in the indicator code, it would turn this into an easier strategy to use.
I would like to thank the friends who introduced me to the BBandStop indicator, although they do not want to be named here.
Before I explain how this works, I want to say that on my 1m chart, I cannot go back before July to backtest because of how far back the indicator can go, as it was when my chart was set to the 1m timescale. Therefore, as an idea of how this approach might be successful, I can only provide one month's worth of trading data and about 170 trades. I will attach my trade progress spreadsheet along with indicators and templates to this post.
Having made 404 pips in July, I will be doing small trades throughout August. My goal throughout the trading game is to average 20 pips per trading day. This is enough to build a very healthy income.
Here's how it works:
When the BB (shown as a red or blue blob) flips up or down and changes color, it is a new trading signal.
You must wait for the 1m candle to close to confirm the signal.
If it flips to the bottom (in which case it will turn blue), this is a signal to go long. We stay in the trade until a short signal is received. The spots will now flip upward and turn red. We then close the position and go short immediately. We do this all the time during the trading window. Some of you may only trade a few hours a day. My current trading hours are 7am to 7.30pm GMT. It's been a long day, I know!
Stop: We have a -45 degree emergency stop. This is to prevent worst-case scenarios, such as large spikes. Never encountered this in my testing so far.
Daily Cutoff: To prevent the price from moving sideways throughout the day, we set a cutoff of -100 pips. This reduced our losses on those occasional horrible ranging days.
We do not do non-farm payroll day trading, and if there is a sudden surge of 100+ points, we will stop trading for the day. This is just based on my own experience of how the market behaves after such a spike.
The system should not be judged by its first few trades, but by the number of pips at the end of each trading day. By its very nature, it typically suffers a few losses per day, but it absorbs ideas and profits from the larger swings. The monthly pip count is what matters.
Examples of a good day:
http://i940.photobucket.com/albums/a...eofgoodday.jpg
Example of a bad day:
http://i940.photobucket.com/albums/a...leofbadday.jpg
NOTE: The light gray line shows 5 point intervals and the thicker gray line shows 25 point intervals. This makes calculating profits or losses very fast.
advantage:
This method can capture large moves, sometimes earning over 100 pips on a single trade.
The biggest loss I've ever seen on a single trade so far is -30. The biggest profit I've ever seen is +132
The system allows multiple trades per day, so it is suitable for those who prefer to be active rather than sit around all day waiting for trades.
This is a very simple 1 indicator system which is very suitable for EA.
question:
At least the way I trade now makes it through a long and tiring day.
Losing too much during sideways consolidation
Some kind of filter may be needed to stop us from making some losing trades. If we could even reduce losses by 25%, the system would be further improved.
August is a tough month for trading most years, but I'm going to trade anyway and see how it goes.
I have attached the template, some screenshots, the BBandStop indicator and some other indicators like "Sweet Spot" and "Time to Next Bar" so your chart will be similar to mine.
If anyone could help with the audible alert or even write an EA for this strategy, it would help us test different setups and test its success on pairs other than cable.
Thanks,
roof
I'm not a trading expert and I've only been trading for a little over a year. However, this year I have been putting in about 12 hours a day every Sunday and most Sunday evenings trading. I was a member of the paid teaching service for the first 6 months, and I traded on and off with a real account during the year. For the first 6 months, I devoted 16 hours a day to trading, learning, and researching, trying many strategies, and creating many of my own.
I'm sharing my current strategy here in the hope that we can discuss its pros and cons and that some of you might be able to come up with a way to filter or minimize some losing trades. This strategy is the simplest I have used so far, relying on only one indicator and nothing else. I'm using this on a cable (GBPUSD) and haven't tried it on any other pairs. It's like a robot and I think it would be very easy to write an EA for it. If anyone can do this it would be greatly appreciated. The trading window lasts a long day, but if I know how to add an audible alert to an indicator, it means I can keep working on other things in between signals. If anyone knows how to do this, or where to insert the sound alert line in the indicator code, it would turn this into an easier strategy to use.
I would like to thank the friends who introduced me to the BBandStop indicator, although they do not want to be named here.
Before I explain how this works, I want to say that on my 1m chart, I cannot go back before July to backtest because of how far back the indicator can go, as it was when my chart was set to the 1m timescale. Therefore, as an idea of how this approach might be successful, I can only provide one month's worth of trading data and about 170 trades. I will attach my trade progress spreadsheet along with indicators and templates to this post.
Having made 404 pips in July, I will be doing small trades throughout August. My goal throughout the trading game is to average 20 pips per trading day. This is enough to build a very healthy income.
Here's how it works:
When the BB (shown as a red or blue blob) flips up or down and changes color, it is a new trading signal.
You must wait for the 1m candle to close to confirm the signal.
If it flips to the bottom (in which case it will turn blue), this is a signal to go long. We stay in the trade until a short signal is received. The spots will now flip upward and turn red. We then close the position and go short immediately. We do this all the time during the trading window. Some of you may only trade a few hours a day. My current trading hours are 7am to 7.30pm GMT. It's been a long day, I know!
Stop: We have a -45 degree emergency stop. This is to prevent worst-case scenarios, such as large spikes. Never encountered this in my testing so far.
Daily Cutoff: To prevent the price from moving sideways throughout the day, we set a cutoff of -100 pips. This reduced our losses on those occasional horrible ranging days.
We do not do non-farm payroll day trading, and if there is a sudden surge of 100+ points, we will stop trading for the day. This is just based on my own experience of how the market behaves after such a spike.
The system should not be judged by its first few trades, but by the number of pips at the end of each trading day. By its very nature, it typically suffers a few losses per day, but it absorbs ideas and profits from the larger swings. The monthly pip count is what matters.
Examples of a good day:
http://i940.photobucket.com/albums/a...eofgoodday.jpg
Example of a bad day:
http://i940.photobucket.com/albums/a...leofbadday.jpg
NOTE: The light gray line shows 5 point intervals and the thicker gray line shows 25 point intervals. This makes calculating profits or losses very fast.
advantage:
This method can capture large moves, sometimes earning over 100 pips on a single trade.
The biggest loss I've ever seen on a single trade so far is -30. The biggest profit I've ever seen is +132
The system allows multiple trades per day, so it is suitable for those who prefer to be active rather than sit around all day waiting for trades.
This is a very simple 1 indicator system which is very suitable for EA.
question:
At least the way I trade now makes it through a long and tiring day.
Losing too much during sideways consolidation
Some kind of filter may be needed to stop us from making some losing trades. If we could even reduce losses by 25%, the system would be further improved.
August is a tough month for trading most years, but I'm going to trade anyway and see how it goes.
I have attached the template, some screenshots, the BBandStop indicator and some other indicators like "Sweet Spot" and "Time to Next Bar" so your chart will be similar to mine.
If anyone could help with the audible alert or even write an EA for this strategy, it would help us test different setups and test its success on pairs other than cable.
Thanks,
roof
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