DislikedHey Naranjoe,
thanks for posting your strategy, looks impressive.
I have few question, I hope you might answer.
1) Are you still testing this strategy or actually trading with it?
2) On Tuesday 8 January , you got 120 pips, what represents 2 trades. What happened with the third one, since you don't count it?
thaaaaankxIgnored
it is not my strategy, developer is mikelath.
I just try to adapt the strategy to gbp/jpy.
Answer of your questions:
1) i do actually forward testing with IBFX demo.
2) We always have 3 orders.
On tuesday 8 January only the first and second order was reached.
On TP2 the EA move SL of third order to BE, then the price come down and close the order at BE.
I have 40 pips on 1., 80 pips on 2. and 0 on 3. = 120 pips
hope this helps to understand.
DislikedNaranjoe
The problem with backtesting is that it is not tick for tick - meaning it does not look at what happened during a period of time - only what the opening and close price for that period was.
ie. For a given period, if the open price was 1.4750 - the high 1.4850, the low 1.4650 and close 1.4750 - a backtest would view that period as if the market did not move. In real time, using Mike's system, you could have a 90 pip loss <OR> a 95 pip gain and in either case would been closed out for the day. If backtesting - nothing would have happened or changed.
Now I too am using IBFX, central time zone. If I understand correctly, to match your settings on the EA, I should be using 22 as the start time with 17 as the number of look back hours.
Thanks
TimIgnored
Hi tsquad
you are correct
Happy trading
Naranjoe