Hello Dan,
I emailed you.
Thanks.
I emailed you.
Thanks.
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DislikedI have attached a report about:
most volatile hours
most volatile session
Range for particular day of the week
And Average range in pips for each day of the month
for eur/usd Usd/chf Usd/Jpy and gbp/Usd
sorry It's a little bit old but still interesting I thinkIgnored
DislikedPlease remember folks, I have been trading a system very similar to this for a little bit on demo and went live not too long ago. A system like this needs monitoring especially if you leave it up to an ea to run the orders. Make sure to avoid shifty brokers and news events as they will kill your account with the spread widening. I am not taking away from the system as I am still trading it and looking for alternatives to my ea but just making a warning for those planning on going live with the ea.Ignored
DislikedI don't know if it is possible to insert a protection in the code for spread widening.
When you run an ea like this on a live account, you must have a backup battery for your computer and modem or a power generator. A very reliable broker and internet provider to. But I would not let the ea run if I leave up. too much risky I thinkIgnored
Dislikedim demoing this since last night on the gbpusd and so far im at 14 level and close to profit. the thing is... because gbpusd is 4 spread it gets stop out more often. I will try eurusd with 2 spread. anyways, i like this system. ive been trading the martingale system successfully so far on the usdcad only for 8 weeks on a live acct. i'm up 33% so far.Ignored
Dislikedclosed for profit at the 14 level!!! i will trade only the European session.Ignored
DislikedI'm testing the EA also, and i have modified SL and TP for some pairs.
GBP/USD - TP=60 SL=25 Spread=4 Level closed=2
USD/JPY - TP=60 SL=20 Spread=3 Level Closed=3
USD/CAD - TP=55 SL=25 Spread=4 Level Closed=3
EUR/USD - TP=40 SL=10 Spread=2 CURRENT LEVEL=6
USD/CHF - TP=50 SL=15 Spread=4 CURRENT LEVEL=12
As I said before, i think a bigger SL and TP would give more space to the trade take the right direction and it wouldn't open so many positions.
Well i'll continue testing it's going very good, at least the ones who had bigger SL and TP let's see the others.
RegardsIgnored
DislikedJust remember that when you change the TP and SL settings from my default settings of 40/10 that you MUST recalculate the Lot Sizing Sequence and Margin requirements, otherwise you WILL have a problem.
Also, you should not just enter for the sake of Trading. I understand that you are testing but, for example, I would not Trade EURUSD and USDCHF today as they are both stuck in a tight range. Remember that this is a METHOD of executing a Trading Plan and must be used accordingly.
DanIgnored
DislikedI know Dan, i just made that cause i want to see the worst case scenario
About the lot size i'll do some math today and i'll let you know.
BrunoIgnored
DislikedHi Dan,
Was just wondering, I like your spreadie, I take it's a spreadsheet, do you mind sharing that with us, you can protect or something, just to play about.
I think it is a very good strat, as he stated, how many times have you entered the market and it's gone against you and then for it to go in the direction intended!
It's happen to loads of time, and this is a live account.
I think people can play with SL and TP and depending, i mean I would be happy with TP set to 25 and SL with 10.
20 pips a day, 400 pips a month, not too bad, I guess.
Any way I 2 pence worth.
Though I will be monitoring this thread with interest like others! Keep it up Dan, sorry I don't mean to be rude and this has been addressed by yourself and the Mod, but I hope you will release the EA without time limitation, as I don't want to play about with the code, but I think this could be a successful system and with playing about with TP and SL (as everyone has different views on what is good for them) this could work!
Keep up the good work!
Thanks,
Guess
Thanks,
GuessIgnored
DislikedWhat other methods are you referencing? How would their probability profile compare to this one?Ignored
DislikedHi Jones,
The reason I say this is because, take a look at this $s required in the account required to trade the entire sequence, as recommended by fxtraderpro. Eg. I think to trade at 400:1 margin, you need alteast 20K. Now, we start off trading at less than 1x leverage. In the first few sequences, if our tp is hit at 40pips, the $$ returns are less than if we are trading at say 5x lev eg for PhillipNel's 5M system, or linuxtroll's rainbow etc
Don't get me wrong, the more I think about this trade management strategy, the more I like it, and I think it is a brilliant method when you have a large value in your account, as the returns are going to be very very consistent, but modest.
I look forward to using this EA, sometime in the near future.
Regards,
K.Ignored