Disliked" For me, I look at a 20 day regression channel"
can you elaborate this ? where can i get this ? i can write EA for this...Ignored
cheers
Wanted gap trading EA 23 replies
Gap Up and Gap Down terminology 8 replies
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Gap in price when trading resumes today? 4 replies
Dislikedit could be like that. earlier i tried 75% of gap as TP and 1:1 for SL, it hit SL most of the times before hitting the TP
problem with gap theory is it says gaps do get filled but it doesnt say when. it could take few weeks in some cases. leaving it withput SL is certainly dangerous.
like most of the strategies that 'look' good on paper but get lost due to improper exits, this is also in same category. without a proper exit strategy idea will remain as idea but not as a tradable systemIgnored
DislikedAlthough I hate to use the dirty word 'optimisation', could you not have these functions as optimisable and then backtest ? You could also include 'number of bars' before exiting. But you are right in that a good looking idea doesnt always make a tradeable strategy. And money management is the key to FX.Ignored
Dislikedit uses SMA for determining the trend. you dont want any trend indicator set it to false. If userTradingAllowed is false, it doesnt send orders, it just acts like indi
place this EA on any symbol DAILY chart and let it run. it scans all symbols and lists the gaps above min required in the Comment section and places ordrers. it doesnt do exits right now. unless i know exit strategy i cant code.
if you try to backtest, it works for that symbol ONLY. thats a limitation on MT4. You cant backtest multipair strategies...
pl use and let me know any...Ignored
Dislikedroundrock, so your EA is *not just* for Sunday gap? What is it showing (ie. default) when it indicates certain pairs as candidates, like when I first apply it this London session? (I certainly will let it run and see what happens)...but would you share a bit more on your EA trading non-traditional times during the week? Like where is the gap, and what is it doing choosing those entry places?
Regards, and *thanks* for sharing it.
RonIgnored
Dislikeddont understand this ?
also, each broker has different opening time for gold. so the gap times will vary.Ignored
DislikedOanda lets you trade virtually 24/7 (yes, you can place trades over the weekend but the spreads are higher and their is no movement).
With that said, EURUSD usually start moving around 2:00 PM on sunday with oanda. So at 5 PM, while most other brokers start trading, you could have been trading with oanda for 3 hours already. But that is besides the point, all you need to know is you can trade 24/7 with oanda.
Now with gold, the official gold market doesn't open until 6 PM on sunday. That means that their is no price movement and with most brokers,...Ignored
QuoteDislikedIf you are good, you could move on to regular days as well. For the first trade, if their is no major move in EURUSD by the time gold opens, do not trade
Dislikedon regular days, at what time gold market opens ? i thought it doesnt close at all till friday evening.
on sunday 5:45 PM, when you are buying/selling gold how are the spreads ? do you recommend market order or limit order ? if market order how can you control the market spikes at execution time ?
thanks a lot for sharing this. i have oanda, let me observe this weekendIgnored
Dislikedit uses SMA for determining the trend. you dont want any trend indicator set it to false. If userTradingAllowed is false, it doesnt send orders, it just acts like indi
place this EA on any symbol DAILY chart and let it run. it scans all symbols and lists the gaps above min required in the Comment section and places ordrers. it doesnt do exits right now. unless i know exit strategy i cant code.
if you try to backtest, it works for that symbol ONLY. thats a limitation on MT4. You cant backtest multipair strategies...
pl use and let me...Ignored
DislikedWhen we talk about gold and the gold market, most people refer to futures because they dominate the market. Gold futures are open Sun 6 PM --> Friday 5:15 PM and are closed everyday from 5:15 PM --> 6:00 PM. That is why their is virtually no movement during the weekends and everyday from 5:15 to 6:00 PM and most brokers suspend gold trading overall. That is also why most brokers don't allow gold trading till 6 PM on sunday and why their is a very large movement on sunday at 6 PM.
As for spreads, with oanda, I have never seen the spread more than...Ignored
Dislikedhi
the chart you posted above is that of eu and not gold.
the problem i see with gap trading on gold is this:
during weekdays there are hardly any significant gaps between day close and open. in fact i could not see any weekdays gaps in the last 2 months on gold.
similarly weekend gaps rarely occur. i only came across one gap of 6 pips in december and one gap in january 2011.
problem is, the gap is so small it is hardly worth trading. it can also be the case that the price may not retrace back to cover the gap. although the majority of...Ignored
Dislikedit works on;y on daily charts...
today we got GBPAUD short as per this EA and closed in profit..Ignored
DislikedA couple of thing I think that you misunderstand and I will try to explain myself better.
First of all, XAU/USD is the symbol for spot gold in USD. So the chart I provided is the price of gold when it opened on Dec. 26th.
Second of all, I meant this strategy should primerily be traded at the start of the week (on Sunday). I have trade this strategy over the last year and a half and I rarely trade on the weekdays, only when EURUSD make a huge move (you can use other USD pairs to confirm that the value of the USD is changing not the EUR, but...Ignored
Dislikedcheers roundrock. A shame. I often find no gaps in my daily charts, but they are certainly there in 1 minute or 5 minute charts.
9am Australian time today as follows:
GBP/AUD Close 1.5614 Open 1.5637 Gap not quite closed yet, currently 1.5631
EUR/USD Close 1.2907 Open 1.2878 My Trade Result +24
USD/JPY Close 83.15...Ignored