System: GP XF Olympic (312) Review
Description: Although the maximum theoretical number of trades per day is 100, and the maximum theoretical open trades is 100, they are pending orders so the probability of all being filled is very low. The maximum open orders (all pairs) has typically been 2 to 8 at one time, and perhaps as high as 12.
Monthly and weekly charts used to determine trend. Daily momentum used for entry. This system places targets and stops at time or order placement. Pending orders are used for entry to ensure good spread.
When not trending this system is used to capture profits. Uses Weekly and Daily to determine if ranging. Uses smaller time frames to determine entries. This system is currently offline until the strong market trends weaken for a period of time.
Two lot sizes are used in the trend system
1st order is less than 2% risk
additional (2nd to 4rth) subsequent orders are less than 4% risk and have smaller targets so are more likely to close at target.
Stops and targets are used
Break-even is also used
Trailing stop is used.
Type of Trading: Real
Broker: Global Prime
Started: Mar 05, 2014
Tracking: 11 users
Currency Pairs: AUDCAD, AUDCHF, AUDJPY, AUDNZD, AUDUSD, CADCHF, CADJPY, CHFJPY, EURAUD, EURCAD, EURCHF, EURGBP, EURJPY, EURNZD, EURUSD, GBPAUD, GBPCAD, GBPCHF, GBPJPY, GBPNZD, GBPUSD, NZDJPY, NZDUSD, USDCAD, USDCHF, USDJPY, XAUUSD
Overview: GP XF Olympic (312) Review Myfxbook system has made +99% in 1133 trades since Mar 05, 2014. The average winning trade is about50.71 pips / $21.26, and the average trade with a loss around -101.23 pips / -$39.80. Trades are left open on average for 2d.
(369/556) 66% is the winning percentage of its buy trades and (402/577) 69% is the winning percentage of its sells.
(Jan 15) 1530.9 was the best trade it ever produced. (Dec 16) -2288.0 was the worst.
Pros & Cons
- Average win is greater than 10 pips, some I always look for
- Warning: large stop loss over 100 pips being used
- Looks like a risky system with large drawdowns.