OLD LARRY WILLIAMS STRATEGY STILL WORKS WONDERS!
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- เผยแพร่เมื่อ 21 พ.ย. 2020
- GET FREE ACCESS TO THE COMPLETE RULES AND IMPROVEMENTS TO TRADE THIS STRATEGY IMMEDIATELY HERE: www.thetransparenttrader.com/...
Watch a video showing how to easily program and automate this strategy here: • How to Easily Program ...
In this video I test an idea I read in Larry Williams' book "Long - Term Secrets to Short - Term Trading"
It's an extremely simple but powerful entry technique which uses just 1 daily outside bar or engulfing bar.
I will show the the test results and modifications which lead to a trade win rate of 92%
You can get all the rules and modifications in the written PDF report for free linked above.
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WEBSITE: www.thetransparenttrader.com/
EMAIL ME: jarrod@thetransparenttrader.com
DISCLAIMER:
I am not a financial advisor and I am not offering you financial advice. I am not regulated in any way. The purpose of the content I provide is for educational purposes only.
Any information you receive is based on my own knowledge and experience in the financial markets and how you act on the information provided is your own responsibility.
I cannot be held responsible for any losses you may incur as a result of ideas taken from my content provided.
Hope you like this simple Daily Bar strategy guys!
---always amazes me these pattern from the past that i developed in the 1960's are still working, There is some method to market madness..THANKS for acknowledging my work larry
I really appreciate your work on the markets and what you've shared with us Larry!
Sir please tell more on accumulation distribution indicator
Larry i still trade your system with %R s&r / trendlines and pivots...i wanted to add volatility breakouts to my arsenal but never fully understood on how it worked...if you could explain i would be gratefull. Thank you
@@MagoCelta look for congestion--sideways then a move out of that area usually carries through
@@blazetrader thank you very much. I remember you talking also about Will spread, made a costum indicator but never fully used or understood it with the main Strat. I use %R as a filter and not as an entry point, i used it for execution in the past though. I also twisted your strat a little and add in divergences to let my positions run or tighten my stop. Just wanted to thank you, you changed my life and of my family. Just adding in that i predicted the crash of bitcoin with your strat... catched the top all the way down.
The sample size of
The reason why the Buy side was profitable and the Sell side was not was probably due to a bigger trend behind it. So probably it would a good idea to monitor a bigger trend, like weekly or monthly to decide on when to Buy or Sell. But not easy since all trends are choppy, so yeah, it's quite a challange.
Thanks, man! Great video, lots of useful information.
It's nice seeing a pro trader sharing mechanical FX systems, the internet is overflowing with stuff related to futures and stocks, FX is much harder.
Thank you,,, I think you just saved me a tone of money .. this strategy is brilliant.. Love it.. not seen anything like it till now.
Love it. Expanding on what I already know as a non-professional trader. Appreciate what you do. thanx.
I appreciate the comment. Thank you!
Wow great video. Thanks!
Great video as always!
Thank you. Much appreciated.
Great work!
Thank you Jarrod!
Hi Jarod, I'm trying to code this strategy in MT5 and i had a question.
If we have an open long position and we get a short signal, do we close the long position even though we do not actually open the short because its a "non-profitable trading day" for shorts ?
I'm assuming we do close a position if there is an opposite signal regardless of the day.
Keep up the good work.
Very wary of a signal that only works long and only on a single pair (as you mention in the comments) and only on certain days. There's no logical reason why shorts should be different from longs - forex is pairs trading and isn't a directional market such as equities so that's a major red flag. Add to that the small sample size of trades, and I rather doubt that this result is statistically significant. Looks very like curve fitting to me...
he explained "curve fitting" in other videos. He said he rather use a strategy that is curve fitted and proved to work then something that is pure speculation.
Wonderfully simple and beautifully explained. Have you tried expanding this to other markets?
Thanks for the Analysis and the efforts you made to refine it. Are we only looking at the Daily T.F?
Yes it's daily bars.
Thank you :-)
Do you need have the program open and the computer turned on for the trades to go through?
Yes you do when using Multicharts. Or you can run it on a VPS. Or you can just trade this strategy manually without using trading software.
Ok thank you!
Great stuff
Would this work in 15m instead of 1D?
Thank you so much! Did you check it on other instruments? 3-4 more markets would make it a holy grail...
It works best on EURUSD. There's no Holy Grail in trading!!
Appreciate you making this type of content! Was wondering if you’d recommend trading this strategy on any other forex pairs? How about UJ? Would love to hear back. Bryce
I haven't tried it on many others. Just tested it on USD/JPY for you and yes it works both long and short. However a huge 800 pip stoploss is required. Anything less and the performance drastically decreases.
I have done another study using USD/CHF using this strategy which goes live on Sunday. Think you'll like that video.
@@TheTransparentTrader I enjoyed it very much! What I am wondering though is would the performance of the new strategy increase even more when applying the tdow rules from this video? (Long: everyday but Wednesday / short: only Wednesday and Friday)
Thanks in regards. Bryce
@@brycewilhelm260 Yes quite possibly!
great video,,,love you to review the scruffy trader
Would you do videos on stock as well not just forex?
I noticed you use a Mac, but Multicharts requires a PC. Do you have a PC emulator on your Mac?
Yes I use Virtual Box and Windows 7. There's loads of other options out there too.
He didn't recommend shorting because stocks and their indexes are inherently biased to go up, I mean the DOW has gone over 30,000 now. That also greatly affected the day of the week results and that may not be as great for the modern-day FX markets.
Great video. Have you back tested on all other forex pairs?
Not all but I think you might find this study interesting th-cam.com/video/ak0aGs_h2pQ/w-d-xo.html
Nice sir
Thank you for your research. I like the strategy but is it really profitable overall?
Beautiful winrate but a 20% gain over 10 years minus trading costs and inflation? Not to mention opportunity costs. But for me this is worth testing on other markets and/or combining with other strategies! Thanks again for sparking my interest about this strategy and Larry Williams!
Don't be mislead by the 20% gain. The test is trading a fixed amount of contracts per trade. There's no position sizing included. Results get much better when including position sizing as you can increase trade size after every win.
Maybe I missed it but after entry when do you take profit? If the stop loss is 200 pips every time what’s the TP?
You check after each daily bar has drawn and if you are in profit then you exit. This will be about 17:00 eastern time.
@@TheTransparentTrader thank you 🙏
Thank you for your work. What is the name of this pattern? I read Larry's book but do not recall this pattern
Larry hasn't given it a specific name. You can find it on page 127 of "Long term secrets of short term trading" In the "Patterns to profit" chapter.
@@TheTransparentTrader Thank you for answer. It will be great to see Toby Crabel ideas on backtest with Multicharts from you. Did you find strategies with return 100% profit per year or more on backtest?
It's works the same for spx500 and us30 and nasdaq100?
I haven't tested it yet on those markets. Why don't you try?
So a 10:1 risk to reward ratio. A trend change would be nasty.
apply to seasonal chart!
but how will you evaluate the strategy without a SL ?
oh sorry i didnt see the 200 pips sL
How this outside bar is different than engulfing?
An outside bar is the same as an engulfing.
So question, how do i know which is the outside bar on both scenarios? feeling confused
just zoom your charts in so you can see the wicks
It would help if you just used the term bullish/bearish engulfing candle...Your explanation of outside bar was so wordy that I had to pause the video and picture what you were describing in my head...Only to realise you were basically talking about a bullish engulfing bar/candle
Might want to change your candles for videos. I know that’s you’re preferred method, but you must be in the 1% club 😂
8:52 The % profit is pretty low, in my mind.
Please do it with a white board, I learn better with it
80 trades in 10 y... yeah right....
weird that longs did better since EURUSD has been in an overall down trend during that period
Hey Jarrod.....at what point in your adjustment process do you accept you are just backfitting results ?....I can see your path to the 90% result...but let’s be honest ...would you trade that confidently going forwards ?.....great channel ......N. Fxcorrelator.com
Whenever I develop a strategy I use in sample and out of sample data. If the in sample and out of sample both look good I will still watch the strategy for a few months before applying it to my live portfolio.
200 pip sl ?!?!?!?!
I'm not an expert.... but aren't you just curve fitting the whole strategy especially when optimizing?
You're using a large multiyear dataset but then no back testing ,no monte Carlo simulation, no forward testing, no paper trading the set up.
.... but like I said, I'm no expert-
feel free to correct my line of thinking:)
You say it works but did you make any profit from it?
FX surgeon hahahah!!!
OK. The main thing is -- this is crap!
1. Largest losing trade is 2000$ .....
2. Average winning trade is 539.72$ -- and the Average losing trade is -1604$
If you develop a strategy that can take 5pip profit with 500pip stop loss your robot percent profitability will be 98% -- but this is also crap because the loss will be high.
This strategy doesnt work in real
Yes could be. I listened to Larry for years, looked at the great investors. And it all comes down to your own strategy. And a great deal of luck!
88 trades in 10 years 😂 I’ve taken more trades in the toilet 🚽
200 pips stop loss? 😐
this strategy seems great but dude you are so boring to listen to....i was falling asleep get some Enthusiasm MAN!!! lol
This is for people who want to be educated, not entrertained
So fall asleep and stay poor then? Everyone can’t be a winner.
When I look at more and more of these videos for years
And of Larry Williams. It makes me less want to be a trader. Most people are not going to understand anything in these videos.
Go to sleep then! unbelievable