[DaveC]

This thread seems to be getting a bit off topic.

It would be more beneficial for all concerned. i.e. those who are using, following, or trying to get a better understanding of how best to apply ProFX to keep to that topic.

What I would like to see is discussion and comment on each other's entries TP's SL's to see how we can, if indeed it is possible, without hindsight as one or two have suggested, to replicate ProFX's published performance.

I posted my trade from yesterday, but no one else has. As for today, I took the short at the start of the EU session at 7.51 (CET) missing the preferred entry by about 20 pips. SL is set at 70 pips (50pips above where I should have got in) so TP also adjusted accordingly to 80pips.

What has anyone else done??

[wanelad]

Dave I gather you use a fixed stop? rather than using the trailing stop loss built in?

P.S. I have decided not to trade the system during this range cycle

[sonoio]

Adding indicator, adjust trading rules, work with trailing stops instant fixed stops, change TP and SL parameter will change the system and risk reward from the system.

This is nothing else then making a very good system worse and then users are surprised why they fail while other make money.

I am now on the road but will post later today my recent trades for better understanding.

[wanelad]

Sonio the system has a trailing stop built in. Once price kicks over the PRO1 an arrow appears. The PRO 1 follows price down if short, up if long thus providing a trailing stop. One of the rules is if direction changes eg price moves over the trailing PRO1 indicator then it is an exit.

I did not design the system that is just how it was built, to me I think it is very clever

[DaveC]

Originally Posted by sonoio

Adding indicator, adjust trading rules, work with trailing stops instant fixed stops, change TP and SL parameter will change the system and risk reward from the system.

This is nothing else then making a very good system worse and then users are surprised why they fail while other make money.

I am now on the road but will post later today my recent trades for better understanding.

I am not looking to change the system - but for example my trade today:

The ProFX manual suggests fixed stops of 50-75pips and the system projects a suggested stop with ProFX01. However Alex often suggests putting the stop just above the last swing point, or the support / resistance points highlighted by ProFX09.

So where should I put my stop today, 50pips fixed from entry, ProFX01 which as a trailing stop would have already been taken out, or ProFX09 which sits 80pips over even the best entry point?

This is what I meant by discussing S/L's etc, trying to get a clear understanding of how to use the rules to get the performance we all hope for.

Thanks

[DaveC]

Originally Posted by wanelad

Sonio the system has a trailing stop built in. Once price kicks over the PRO1 an arrow appears. The PRO 1 follows price down if short, up if long thus providing a trailing stop. One of the rules is if direction changes eg price moves over the trailing PRO1 indicator then it is an exit.

I did not design the system that is just how it was built, to me I think it is very clever

This creats another issue, which as been answered as regards entries but not for stops.

The change of direction arrow flashed on the previous candle as PA crossed ProFX01, but then dropped back and wasn't there on the close. It is now there again and looks very much like it will print properly on this candle, at which point I will close out.

My close however will be 20 pips higher than if I'd closed when the candle first flashed up.

So do we wait for a "confirmed" change of direction for stops, or jump as soon as we see it?

Dave

[wilsonch]

Great that you guys bring up this issue. I have thought of this in my trading plan. Haven't got the time to actually execute it. Here's my plan. Firstly put the stoploss as 70 (that's what i'm normally using, have been hitting quite a few 70 pips this month). Ignore the flashing of arrow while the bar is still open. Only close order at close bar when the arrow is confirmed.

In the case, where the stoploss 70 is hit and your order has been closed due to that, but the price draw back and arrow is not printed. I consider this 'tough luck'. I have looked back to past history, this method does generate some profit, but is much less. Some of the months it may be loss and but still manage to break even at the end of month. As some of you have mentioned, tweaking the entry and stop would change the risk-reward ratio.

[wilsonch]

as for today, short at 1.43999 and have closed at a loss of 31 pips. have been in profit draught for quite awhile.

[coastie]

Wilsonch,
I feel your pain mate. It has been the same for me since I went live.After I been doing so well on demo and as soon as I went live things turned against me

Cheers
Kane

[DaveC]

Originally Posted by coastie

Wilsonch,
I feel your pain mate. It has been the same for me since I went live.After I been doing so well on demo and as soon as I went live things turned against me

Cheers
Kane

Ditto

I know Alex's input into this thread is a bit sporadic, obviously got other things keeping him busy, but I would be interested to see what he claims to have achieved last week and so far this.

I would take comfort if he'd suffered the same fate as the rest of us, but I think he is claiming to be about 100pips in front for last week, so i'd like to see his results and screenshots posted to his performance archive, so I can study his trades to see where i went wrong.