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Quoting mrdfx
{quote} Ouch well that went fast! SL hit. Unfortunately not a good week guys. I am experimenting with different opening times now as I do think we can optimize when to get into the market and perhaps my "not set in stone" time of 03:00 is not the most optimal time. On a good note at least my friend is working on the bug fixes so that should be sorted this week and the daily setting test hit its TP again today.
Perhaps a VB would have kept you out of this weeks trades?
Quoting tomorton
I can only go along with the negative reports above re this week's trades. My first time toes dipped in the water and so far its not looking too good. A couple of fine detail questions. Suppose I put in 10 pending orders based on the Monday NY close. Suppose 6 are triggered: I assume the plan is to run these 6 until they either hit the basket loss limit or I close them out Thursday/Friday. Likewise, I assume I need to keep the 4 pending orders remaining but cancel any whose charts show they've lost their trends. But is it worth watching the charts...
tomorton, you seem to be thinking of this strategy in very different way. There is no pending orders and we don't know how many valid pairs there will be for the week. Please the first post again to be all clear on the strategy.
Truth is like poetry. And most people f*cking hate poetry.
Quoting bojack34
{quote} Perhaps a VB would have kept you out of this weeks trades?
Possibly I just need to figure our how to apply it and then get it done, but it could work I think.
Truth is like poetry. And most people f*cking hate poetry.
Quoting mrdfx
{quote} tomorton, you seem to be thinking of this strategy in very different way. There is no pending orders and we don't know how many valid pairs there will be for the week. Please the first post again to be all clear on the strategy.

Ah, you're right of course. I was making it more complicated than necessary by setting entry orders ahead of price. Many thanks mrdfx, situation is clearer.
Quoting mrdfx
{quote} Ouch well that went fast! SL hit. Unfortunately not a good week guys. I am experimenting with different opening times now as I do think we can optimize when to get into the market and perhaps my "not set in stone" time of 03:00 is not the most optimal time. On a good note at least my friend is working on the bug fixes so that should be sorted this week and the daily setting test hit its TP again today.
Hi MrdFX, I must commend your selfless effort and service to ensure that people are profitable using your beautiful system. I am currently investigating on how to apply the system for daily trading. I am already making some great moves.
I really want you to understand that there is nothing wrong with your system or proposed entry time. From my wealth of experience using your system I want to explain what happened in the trade this week. On sighting the situation I already knew it was going to be bad for those trading.
The problem was that many traders did not factor a major news report for the AUD that was to open 30mins after your proposed entry time. I took advantage of the situation after I realized the direction that the news took AUD and that made me very profitable.

This is the secret everyone trading this beautiful system must know. If there is Major News for AUD within the timing, wait to ascertain the direction based on the news as AUD can be very volatile.
From experience, any thing that affects AUD makes NZD go in the same direction. Therefore, if the news makes AUD rise, NZD will definitely rise (go same direction). If AUD falls NZD also falls. They are directly proportional.

If you are in doubt of what I am saying, look at all the trades that made losses. you will realize that the losses only affected currency pairs that involved either AUD or NZD while the other pairs were profitable. This proves again that the system is ok but was only affected by the volatility of AUD following the news in the forex calender at about 12.30am GMT.
Quoting kefmawin
{quote} Hi MrdFX, I must commend your selfless effort and service to ensure that people are profitable using your beautiful system. I am currently investigating on how to apply the system for daily trading. I am already making some great moves. I really want you to understand that there is nothing wrong with your system or proposed entry time. From my wealth of experience using your system I want to explain what happened in the trade this week. On sighting the situation I already knew it was going to be bad for those trading. The problem was that...
Hi kefmawin, thank you for the kind words. :-)

I have previously mentioned that this strategy does not account for high impact news and if you see that there is upcoming news you can filter out those pairs that could be affected.

Personally I have not done it as HIN can go either way, its a 50/50 chance that you can profit from the news or take a loss like this week.
Truth is like poetry. And most people f*cking hate poetry.
Quoting mrdfx
{quote} Hi kefmawin, thank you for the kind words. :-) I have previously mentioned that this strategy does not account for high impact news and if you see that there is upcoming news you can filter out those pairs that could be affected. Personally I have not done it as HIN can go either way, its a 50/50 chance that you can profit from the news or take a loss like this week.
That is correct. Thanks once again. No for sure that your system is profitable. I am also exploring it further.
Happy to say that I kept all my open positions in the basket running in this my first week and now I'm in real danger of making a small profit! The worst unrealised loss I saw on Tuesday was about -0.9% (aiming to get out at -1% during the trial period). Most of that loss is now eliminated and I reckon by tonight I should be in the money a little. Looking forward to running this again (and better) next week).
Quoting kefmawin
{quote} That is correct. Thanks once again. No for sure that your system is profitable. I am also exploring it further.
Well from my testing it is, I would not have shared something on a public forum unless i was sure it works.

Just cos we had a loss here or there does not mean the strategy does not work, its impossible to have only wins.

Can this strategy be improved and fine tuned? Sure I think it can like any strategy can, and I think that through forward testing various set ups we will find an optimal setting that will make us a good long term profit.
Truth is like poetry. And most people f*cking hate poetry.
Quoting mrdfx
{quote} ... Can this strategy be improved and fine tuned? ...
Hi mrdfx,

I think your strategy is based on a good and solid idea, namely M/W/D + H4 periods.

The weak point according to me could be the starting hour on Tuesday.

Why you picked 3:00 and not 7:00 or anything else ? Is your initial choice based on back test performed on all the 28 pairs ?
And if yes how long did you go back in time ?

Unfortunately MT4 doesn't allow multi-pair back test while MT5 does.
Is there anybody here testing this strategy on MT5 that could do a real test going back at least 5 years ?

Best regards,
Bubincka
Porta itineris dicitur longissima esse
Quoting bubincka
{quote} Hi mrdfx, I think your strategy is based on a good and solid idea, namely M/W/D + H4 periods. The weak point according to me could be the starting hour on Tuesday. Why you picked 3:00 and not 7:00 or anything else ? Is your initial choice based on back test performed on all the 28 pairs ? And if yes how long did you go back in time ? Unfortunately MT4 doesn't allow multi-pair back test while MT5 does. Is there anybody here testing this strategy on MT5 that could do a real test going back at least 5 years ? Best regards, Bubincka

I'd be surprised to hear of much price action on most pairs between the NY close and the London open which might affect this strategy. The exception would be AUD and NZD pairs if there has been some high impact national or regional news.

As for the other currencies, yes, a change of entry time might make for a different price but surely the probability of a universally worse entry price isn't likely? Surely 50% of entry prices might be a little better with a different entry time but 50% might be expected to be a little worse?

Or do you have other factors in mind that might be relevant?

(please excuse me jumping in all)
Quoting tomorton
{quote} I'd be surprised to hear of much price action on most pairs between the NY close and the London open which might affect this strategy. The exception would be AUD and NZD pairs if there has been some high impact national or regional news. As for the other currencies, yes, a change of entry time might make for a different price but surely the probability of a universally worse entry price isn't likely? Surely 50% of entry prices might be a little better with a different entry time but 50% might be expected to be a little worse? Or do you have...
Hi tomorton, far from me to have any ready made answer.

I was only raising some doubts on entry hour since it's the only param we can control.

On the other hand forward testing it isn't a valid alternative in my view since it's a strategy trading once a week and it should take too long to collect meaningful data. As said we could at least try to perform a back test on MT5 that afaik allows for multi-pairs simultaneous execution. That's why I was asking if there's anybody around trading this strategy on that platform.
Porta itineris dicitur longissima esse
Quoting joyny
{quote} Hey, bubincka. As for now, I understand that the author of this thread aims to earn some money in the future by selling his MT4 EA. Therefore no MT5 EAs here are welcomed. Please correct me if I'm wrong..
Hi Joyny, I thinks it is an unkind and uncharitable statement to make. In my opinion, the author of this thread has done tremendously well and proven to be generous, open minded and sacrificial. Quite a number of people including myself have benefited from his system.

I do not even trade with the EA, I simply apply the initial manual approach he proffered and it has so far been profitable for me. He has given us enough to apply our discretion and trade profitably.

I am sure he is not planning to sell anything But even if he chooses to sell any EA in future, I will not have any issue with that considering he has committed a lot already in this project and deserves to be appreciated in several forms including monetary.
Quoting joyny
{quote} Hey, bubincka. As for now, I understand that the author of this thread aims to earn some money in the future by selling his MT4 EA. Therefore no MT5 EAs here are welcomed. Please correct me if I'm wrong..
Where did I say or imply anything that I plan on selling this EA?

Who said an MT5 version is not welcome? What are you smoking?

I have no intentions of selling anything ever, your comment is uncalled for and will be disliked accordingly.

You clearly don't know my history on this forum or you would never have come with such a statement.
Truth is like poetry. And most people f*cking hate poetry.
Quoting bubincka
{quote} Hi mrdfx, I think your strategy is based on a good and solid idea, namely M/W/D + H4 periods. The weak point according to me could be the starting hour on Tuesday. Why you picked 3:00 and not 7:00 or anything else ? Is your initial choice based on back test performed on all the 28 pairs ? And if yes how long did you go back in time ? Unfortunately MT4 doesn't allow multi-pair back test while MT5 does. Is there anybody here testing this strategy on MT5 that could do a real test going back at least 5 years ? Best regards, Bubincka
Hi bubincka, as I said in the first post I was testing this strategy for 3 months, actually its a bit longer cos there were some weeks I did not trade as I was not around my PC to trade for that week, but I compiled 3 month of data before deciding to share the strategy here.

When I initially started testings this strategy I wanted to wait till the first daily candle of the week closed, I also wanted to wait to see what the first H4 candle of the new day was doing to get a sense of the trend momentum before choosing valid pairs.

As I was trading this manually, some weeks I opened before 3 hours and some after 3 hours and from that I kind of decided that 03:00 was the go between hour to start. I have said that this open time is not set in stone and everyone is encouraged to experiment different open times to perhaps find a better start time if there is one. I'm currently testing some different open times and hopefully after a few weeks I will have more data on that to share.
Truth is like poetry. And most people f*cking hate poetry.
Quoting mrdfx
{quote} Where did I say or imply anything that I plan on selling this EA? Who said an MT5 version is not welcome? What are you smoking? I have no intentions of selling anything ever, your comment is uncalled for and will be disliked accordingly. You clearly don't know my history on this forum or you would never have come with such a statement.
You wrote in 1st page this: I have put a 30 day expiry on this EA to protect it from being sold or commercialized etc. At the end of 30 days I'll upload a new version.

Friendly question: what will be "at the very end" - forever 30 days updates from your side?

I am friendly and sharing. Don't what to harm here anybody. When you read the text you don't feel emotions or smile in my face

Ok if that was all my mistaken perception then let's try the MT5 path!

I posted on page Nr. 14 MT5 EA and backtesting results. I asked the question - is my EA according to this thread algorithm (it is important because maybe I made mistake - people should use only correct EA according to this thread). As nobody answered (even moderator of this thread) I decided that MT5 is not welcomed here. But ok it's my mistake.

Backtesting history is very important. You can save so many time to people if backtest history with MT5 EA. People here need to earn some money.. why wait 3 years in forward testing if you can backtest history and get so important answer - "is this strategy working" ?

I found that this strategy works (if I didn't make mistake - please confirm If my EA works correctly) with each symbol individually because each symbol has an individual "best times" for opening. Don't believe in basket idea because 3 months backtesting was bad (sorry didn't save results as I save only good results and didn't intend to post here anything till saw people asking for MT5...).

I can make backtesting of the "basket" version again if somebody confirms that my EA is correct.

For now, attaching backtesting results for 10 "winners" of this strategy (but an adjusted strategy with reversals too) - backtested 10 years.
Attached Files
File Type: xlsx _final_AUDUSD_recovery_7.93_dd_31_profit_246_10years.xlsx   281 KB | 54 downloads
File Type: xlsx _final_EURAUD_recovery_6.68_dd_82_profit_547_10years.xlsx   438 KB | 14 downloads
File Type: xlsx _final_EURCAD_recovery_7.38_dd_45_profit_335_10years.xlsx   142 KB | 13 downloads
File Type: xlsx _final_EURGBP_recovery_17.32_dd_15_profit_260_10years.xlsx   218 KB | 11 downloads
File Type: xlsx _final_EURJPY_recovery_10.99_dd_45_profit_498_10years.xlsx   320 KB | 15 downloads
File Type: xlsx _final_EURUSD_recovery_10.46_dd_51_profit_539_10years.xlsx   220 KB | 23 downloads
File Type: xlsx _final_GBPJPY_recovery_7.58_dd_124_profit_939_10years.xlsx   253 KB | 15 downloads
File Type: xlsx _final_GBPUSD_recovery_10.44_dd_44_profit_459_10years.xlsx   311 KB | 14 downloads
File Type: xlsx _final_NZDCAD_recovery_5.81_dd_55_profit_319_10years.xlsx   154 KB | 11 downloads
File Type: xlsx _final_NZDJPY_recovery_6.08_dd_57_profit_349_10years.xlsx   283 KB | 16 downloads
Quoting joyny
{quote} You wrote in 1st page this: I have put a 30 day expiry on this EA to protect it from being sold or commercialized etc. At the end of 30 days I'll upload a new version. Friendly question: what will be "at the very end" - forever 30 days updates from your side? I am friendly and sharing. Don't what to harm here anybody. When you read the text you don't feel emotions or smile in my face Ok if that was all my mistaken perception then let's try the MT5 path! I posted on page Nr. 14 MT5 EA and backtesting results. I asked the question...
Not a bad ratio tho...having a good entry time of the week should better the result in the long run.
The rate is upward👆 and forward ➡ only.
Quoting joyny
{quote} was all my mistaken perception... because maybe I made mistake... I decided that MT5 is not welcomed here... But ok it's my mistake... Don't believe in basket idea...
This will be my last post directed at you as I'm not into debating or arguing with anyone. You came into my thread posting false statements that I have commercial intentions which you still have not retracted or apologized for.

The 30 day expiry is exactly that, to prevent this EA being commercialized, how that translated in your head to meaning I plan on selling it is beyond me.

You seem to be making many assumptions, where did I say that an MT5 version is not welcome? Exactly what you said, you decided. I don't trade MT5 and have no way to see how or if your version is correct, I also never replied to you as you were going off topic and deviating from the original strategy, you even say you don't believe in basket trading, then what are you doing here???
Truth is like poetry. And most people f*cking hate poetry.
Quoting mrdfx
{quote} This will be my last post directed at you as I'm not into debating or arguing with anyone. You came into my thread posting false statements that I have commercial intentions which you still have not retracted or apologized for. The 30 day expiry is exactly that, to prevent this EA being commercialized, how that translated in your head to meaning I plan on selling it is beyond me. You seem to be making many assumptions, where did I say that an MT5 version is not welcome? Exactly what you said, you decided. I don't trade MT5 and have no way...
Hi Mrdfx, I do not want you to be distracted by unkind remarks from people. Just keep your focus on the good work you are already doing. Some of the comments people are making have proven to me that we have people who have "entitlement mentality" and an attitude of ingratitude.

Once again, you have availed a good system that can be applied in various ways for profit making. For this week I made great experiment applying the indicator you provided without The EA and traded daily. Guess what? I made over 100% profit. I know its unbelievable but that is the case here.

I can tell for sure that a lot of people are looking for who will spoon feed them rather than tweeking the system already freely delivered for optimum profit.

Cheers...
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