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-   -   Follow the Candles (https://www.forexfactory.com/showthread.php?t=956138)

ppwest Nov 13, 2019 2:25pm | Post# 321

{quote} mine still on and in profit. {image}
Yeah it was the NZD pairs that did it with last nights news!

MrGreen95 Nov 13, 2019 4:00pm | Post# 322

10% SL Hit 10 Trades opened Lot size 0.01/200 {image}

In the long term this "system" will blow your account. You can't trade totally blind, this is no-sense trading. Save your money and stop trading it.

kingpat Nov 13, 2019 4:10pm | Post# 323

That's why we are demo trading to see how it gonna perform

johnsmith2nd Nov 14, 2019 1:29am | Post# 324

{quote} Not sure why it did not open for you but the lots per balance bug would not have affected the EA operation in opening trades.
I will investigate on the weekend and let you know. After no entry I changed opening day to Wednesday, still no trades.

Nice results from the others!

dkarev Nov 14, 2019 2:01am | Post# 325

My trade this week ended in a loss..though am still optimistic about the trade pattern

artic118 Nov 14, 2019 5:52am | Post# 326

{quote} I will investigate on the weekend and let you know. After no entry I changed opening day to Wednesday, still no trades. Nice results from the others!
Im testing several setups with the ea,.diferent days,..diferent hours,..etc,.etc,.in one of my setups,.the ea doesnt open any trades last nigth,.on moday, ok,.thuesday,..wensday, but last nigth no trades,.after trying to make the ea open the orders 10 times,..one came up,.next more 10 times trying,.more 3 came up,.soo only 4 trades open last nigth, when should be 11 trades ,..soo i thing same thing not working ok,..

ezmonyfx Nov 14, 2019 6:48am | Post# 327

very interesting concept i cant get ea to take trades either

macpips Nov 14, 2019 8:32am | Post# 328

I'm would like to try your system is the EA still available?

mrdfx Nov 14, 2019 9:58am | Post# 329

Picked up another bug which affected my open orders so can't get an accurate reading on this weeks results. Its frustrating when something so small affects the outcome. It does look like some of you had a successful week and that's great.

I'm working on getting some things fixed up with the EA and will get it uploaded before next Monday. Guys those of you using the EA you need to remember this EA is a new project and there's bound to be some small bugs that needs fixing. Make sure you only trading on demo and not real yet!

If you think you have found a bug or something not working please share as much info as you can so it can be replicated and fixed.

kingpat Nov 14, 2019 10:04am | Post# 330

I think another method is for you to only trade what you can loose..Leave the basket when it is in lost till it swing back or leave it till Friday and close the loss..Am testing that one.People might think that's gambling..

macpips Nov 14, 2019 10:40am | Post# 331

Great mrdx! I look forward to trying next week. Thanks for the update.

tuxTrader Nov 14, 2019 10:45pm | Post# 332

1 Attachment(s)
this is the third week results that i tested this strategy. i opened and closed all trades manually this week. Based on what i saw in this 3 week, i think i can have a consistent and safe profit of about 2% with about 5~6% DD per week without stress of 10% stoploss hitting if i consider a proper lot size per balance. but for 5% profit per week, i think it needs more room for price to move and thus more DD%.

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mrdfx Nov 15, 2019 8:40am | Post# 333

I think another method is for you to only trade what you can loose..Leave the basket when it is in lost till it swing back or leave it till Friday and close the loss..Am testing that one.People might think that's gambling..
Actually that's already part of the strategy like I mentioned in post #222.

If the basket did not hit TP or SL by Friday we will close regardless if in profit or loss. There's no holding orders over the weekend.

kingpat Nov 15, 2019 9:10am | Post# 334

What am saying is my basket hit the stop loss and the draw down was 50% on Wednesday afternoon.I left it and on Thursday, i was up 100 pip so i closed the basket.What am saying is, since we are targeting 5% profit with so many currency pairs in the basket we must allow Draw down for a swing hence the 10% SL is too tight .I will try the 2% target profit and see how it works.After 30 minutes when i entered trade, 2% target profit hit before the trade took a nose dive.

NoNonSenseFX Nov 15, 2019 9:42am | Post# 335

1 Attachment(s)
2% Profit hit.
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bojack34 Nov 16, 2019 5:45am | Post# 336

{quote} Actually that's already part of the strategy like I mentioned in post #222. If the basket did not hit TP or SL by Friday we will close regardless if in profit or loss. There's no holding orders over the weekend.
how about eliminating pairs with negative swap? Or, at least the worst of those pairs.

tomorton Nov 16, 2019 7:09am | Post# 337

this is the third week results that i tested this strategy. i opened and closed all trades manually this week. Based on what i saw in this 3 week, i think i can have a consistent and safe profit of about 2% with about 5~6% DD per week without stress of 10% stoploss hitting if i consider a proper lot size per balance. but for 5% profit per week, i think it needs more room for price to move and thus more DD%. {image}


I agree, 2% profit per week is enough - its more than is needed to double your account year on year. And a low DD is more acceptable psychologically.

tomorton Nov 17, 2019 5:49am | Post# 338

I like some of the principles in this strategy idea -

  1. its simple, and therefore time-efficient and not error-prone
  2. its objective, not reliant on individuals' chart artistry or recognising Rorschach patterns
  3. its not just an entry pattern
  4. it focuses on being in positions rather than getting in
  5. the key is the profits, not the individual charts
  6. success comes from being in trends, trading pattern No.1


I'm lined up to trade my own variant on this from tomorrow night.

So far my visual backtesting suggests there is rarely any significant advantage to holding wining positions after the Thursday close - anyone confirming that in practice?


munna00 Nov 18, 2019 2:23am | Post# 339

Just closed last weeks basket with +5 usd profit today

galmak Nov 18, 2019 2:32am | Post# 340

1 Attachment(s)
{quote} Actually that's already part of the strategy like I mentioned in post #222. If the basket did not hit TP or SL by Friday we will close regardless if in profit or loss. There's no holding orders over the weekend.
Thats exactly what happened last week to me. The basket was closed at Friday 20.0 as expected. I'm only wondering why the valid pairs (signals) are different from yours. I had 11 pairs in basket instead of 9 (yours). Below is the trade report in my demo account. The basket is opened 3 hours after the 1st daily close candle of the week...
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