Good week for EUR

New price levels and improved performance for meantrades. More trades at better entry prices than the fibs employed in the previous incarnation. 291 pips overall. Am still trying to automate this but the data server is on a remote feed which is not allowing access. Need to speak to the provider and see what he says.

New pivot lines

I have always been a fan of confluence in pivots. There are so many varieties of calculating pivots and no one method has ever seem to consistently produce better results. Enter pivotfarm. They have done the leg work to testing this theory. And day after day they produce the confluence zones for all possible pivot methods. Daily, Weekly, Camarilla, Woodies, Floor and going beyond the norm, they also incoporate maket profile pivots (which are not called pivots but in effect they create a similar market--albeit more in depth-- report as the others).

I went back over the past 3 months with their confluence zones (as they call the overlapping zones) and found they performed even better than my own CRB fibonacci extensions. I think this is mainly for 2 reasons. 1, they are not symmetrical (fibonacci extensions are calculated in a linear fashion) and 2, they are effective immediately on the open of London. No need to wait for a range breakout before creating a setup.

With a simple back test I observed a huge uptick in performance over the past 3 months.

April topped out with More than 500 pips, May with 500 Pips and June with an impressive 450 pips. I still find reversion stops to be the most profitable way to take a loss as many of the short term stops often turn in to tiny profitable trades. The trick with this very anti-risk measure is to keep the standard deviation below 2.0. For these results I set it at 1.5 so the average length between upper and lower bands was only 60 pips. It allows you to get to breakeven as soon as possible so that the trailer (the meat and potatoes of the mean reversions success) to get to work at catching huge trends in a reasonably timely manner.

Very profitable week on GBP and EUR

System has been firing along this month. Very big gains the past two weeks. GBP yielded a conservative 240 pips while EUR output a more sober 181. Trading like this seems more like robbing a bank then trading with one.

Nice volatility with healthy ranges

Since BinLaden ate a bullet we have seen very nice ranges on all the currencies. This week was no exception. You might even say we had a boring week compared to last (although I wasn't in the market).

Booked profits on both the GBP (+182)  and the EUR (+97)

Big week for the Euro

Huge breakout for the Euro this week and meantrades caught the trade a day early; not bragging just observing it is oftent he case that when the signals issue they cause a little pain before the fireworks. Am growing into this notion rather slowly--instant gratification being an achilles heel of mine.

There was almost nothing going on any other chart. GBPUSD missed long and short signals almost daily--even on contracted ORB settings.


Regardless, the EURO ended up +250 pips for the week and still long with profits already booked.

Just for the crude sake of it

I charted crude oil last week to see how the system is tracking. Wow, it is impressive indeed. One really nasty uptrend trade and several really nice tops and bottoms nailed for a take away of 4 points. Might need to look into spread betting this one ...

back in the quick

I was thumbing through the charts recently and discovered not only is my method still as robust as ever, it even seems to out perform more popular methods out there. Market profile traders, VSA traders, they all have their days but Meantrades seems to consistently give more bigtrades than most other systems going. Here are the results from last weeks trading.

Huge two day uptrend on the Euro which we got nailed in the crosswinds. However the GBP was able to catch a ride upstream and looking very nice indeed prior to Fridays trade.

If anyone knows about programming EAs, I would like to collaborate by trying to automate this strategy. I think the auto pilot might have trouble if exiting on the first touch of the keltner. However if using a scale out approach I can see some huge gains possible. I have discussed this in years past and have seen very positive results. I however have not been able to hold on to live positions long enough to benefit. An auto trade bot would not have the same difficulties I imagine. Perhaps another program would be more accessible for constant range bar trading as it is my understanding Ea's do not operate consistently with offline mode charts and the constant range bars require offline in Metatrader.