January 21, 2011 08:23

NEW: CandlePRO Performance!

Posted In: CandlePro
By:

We are happy to introduce the new CandlePRO top performers scoreboard (beta)!

At the scoreboard you can find the top 5 signals for each timeframe for the previous day (for 4h and daily candles the results are more delayed as 10 candles have to pass). You can then use this data to help you determine which signals you will follow the next day, and which signals are the most profitable. Results are determined using the 10-candle strategy system, and results with the biggest difference between the profit and the drawdown are ranked the highest. In the future we will put top signals of the week and month up as well.

A couple of curious things we’ve observed just from watching the scoreboard for the past couple weeks:

  • Smaller timeframe candles almost always have higher pip results than larger timeframes. Why? In short because there are so many more 15m candles than 4h candles, or daily candles. With 15 min candles coming out much more frequently odds are that they will capture a large move at some point with very little drawdown. Therefore it becomes even more important with 15m candles (or even 30m) to use CP as part of a strategy – done right with your strategy (such as Support/Resistance ) you could use smaller TF candles as the entry points and potentially avoid large drawdowns that trip your SL. This doesn’t mean one should trade off of 15m charts or only use 15m signals – quite the contrary – with 15m signals you need to be more precise to choose the right signal to enter on. With larger timeframe signals it is less precise (so you need a bigger SL) but less time-intensive and more set-and-forget.
  • Doubles and triples work – while only a small percentage of actual signals, doubles and triples seem to pop up a lot on these Top 5 scoreboards, giving the impression that they are, in general, higher probabilty setups than

Enjoy, and leave your comments below. Keep in mind this is a BETA feature, so all the kinks have not been worked out yet and will change based on your feedback.

Cheers!

-PipHut Team

2 Comments on "NEW: CandlePRO Performance!"
  1. Avatar of ukfitness
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    Comment left on:
    January 21, 2011 at 08:38
    ukfitness says:

    Brilliant addition to the CP Mark, well done & keep up the excellent work.

  2. Reply
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    Comment left on:
    January 21, 2011 at 08:51
    slkviper says:

    Nice one Mark, this will be useful to further minimize risk

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