Thread: Discuss all about FX open

Originally Posted by Alizain

yes, start from today i will try my trading skills with chance to get the prizes

Well how are you doing so far? ;)

feww i'm got some loss with long EU, but don't worry the second experiment would running :D

manager say FXopen would added "competitors position list" soon. :)

Originally Posted by Alizain

feww i'm got some loss with long EU, but don't worry the second experiment would running :D

Yup, e/u suprised a little ;) But don't worry - it's just a virtual money and it's a competition. I'll keep informing how Im doing. So far +3200

Today I was doing some more analysis of historical data. I made a simple research and analysed 4 pairs and theirs frequencies od daily ranges and found interesting information. Im also going to analyse probabilities of occurence of two and more directional candles in a row on different timeframes. I want to determine the most probable ranges and sequences of directional H1, H4 and D1 moves. Next step will be tunning of a trading plan and backtest it intensively. A simple breakout system based on optimal parameters from the data analysis performed neutrally in today's backtest and it has a great potential for improvements.
If I will find some time, I'll post more information about my research.

Also a friend of mine joined my backtest session today and it was a real adventure. Imagine two guys sitting in front of the computer, one crunching the data and the other one building a simple trading system based on the data analysis. It was very nice experience and we are going to repeat that in the near future..

Contest update:

82510 Alecsandro Fernandes da Silva 51 897.99
82416 SAR 43 234.82
89773 Nikolay Panayotov 37 917.44
83836 Mohd Ilham Zulkifli 27 749.79
80712 Ramdas M Dumbre 25 630.35
89721 Anwarul Haq Bin Hashim 23 296.35
88570 Solodkiy Stepan 18 430.10
82517 Marcos Eduardo ******to Corazza 17 294.28
83280 Sana Almaaita 16 988.44
80909 Muhammad Naeem Hasan 15 655.99
84678 zaidi bin abu bakar 15 509.34
81872 zitzak rabbyn s 14 228.44
84717 Alireza Kariman 14 054.62
83444 rian amukti 13 759.62
89239 Kazim Rizve 13 544.75
85938 Chenhongfen 12 348.31
88502 razali 12 197.44
88650 Hanizam Ujang 11 899.72
89158 frenki 11 424.03
88931 Rami Khaled alkhatib 11 283.05
86529 David Alfa Perdana 11 212.23
84989 Putu Aryana 11 074.56
84679 Leong Tian Su 10 997.51
88950 azmi sulaiman 10 526.00
89161 wahyudi 10 501.63
89319 SAHIRAN BIN AHMAD 10 460.46
88379 rostam effendi bin mohamad 10 203.62
82799 Mohd Fikri Che Husin 10 175.60
80761 Jaume Torne 10 115.10

Originally Posted by ptaczek

If I will find some time, I'll post more information about my research.

Also a friend of mine joined my backtest session today and it was a real adventure. Imagine two guys sitting in front of the computer, one crunching the data and the other one building a simple trading system based on the data analysis. It was very nice experience and we are going to repeat that in the near future..

thank's, you would build some trading system, maybe like "cornflower" with your friends ?

the top competitors make more than 20k of profits,

hope they are member of FXopen forum or maybe there, so we can chat and sharing about techniques :D

Originally Posted by Alizain

thank's, you would build some trading system, maybe like "cornflower" with your friends ?

Once you get some statistically significant information from analysis of historical data, you can think about what is possible and what is not more clearly. There is still a lot of work ahead of us but we are determined to build some system.

Here is the EURCHF 4-hour chart. It's showing the uptrend channel and also key resistance level (blue) and descending trendline from the daily chart. The trade idea is to BUY if it breaches the resistance AND the trendline or to SELL if it breaches the bottom of the channel (closes outside it). Alternative BUY signal would be, if the price bounces off the bottom of the channel.
T/P 100pips, S/L in all cases should be around 40-45pips but not more than 1-2% of the equity. If you can't afford such S/L, do not trade. Also some S/L moving technique should be applied or at least 35pips trailing stop.