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Attachments: Follow the Candles
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Follow the Candles

Quoting mrdfx
{quote} +5% TP hit in a cpl of hours! This is the kind of week I was waiting for! {image} {image}

5% a week? - a great week mrdfx, well done.

Actually I'm struggling a bit with the setting of SL and TP for this strategy. I have a basket open of very small equal-sized positions which is altogether equivalent to 15% of the margin available. My unrealised gain this week made +1%.

May I ask, what is the % of your account capital that you find you need to utilise per average basket to make +5%? And how often can a 5% profit be expected?
I had 14 pairs opened and hit the TP (5%)

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mrdfx - thanks for your generosity of this EA.

Plz don't get me wrong - I'm not bitching - merely airing my observation about your "+5% TP hit in a cpl of hours! This is the kind of week I was waiting for!"
I believe you (and some others) were "just lucky" this week - because of the Red News on AUD at 5:30 happen to go in your trade's favor. But 2 weeks ago the AUD Red News shortly after basket-open took AUD's and NZD's against our 3:++ trades-open (as Kefmawin said on Page 19). The Red News direction is a 50/50 gamble - where-as the purpose of any strategy is to get more odds in our favor, like 75-or-more : 25. And with 5% TP versus 10% SL, the odds of 50:50 are even more reduced.
...............So I opted to open basket this week 30min after the Red News last night - to see which way the wind blows. But it did'nt open - and I re-loaded the EA and re-set the time to when I looked again at 7:45, which then opened 14 trades (still running).
...............However, while the EA automatically adjusted the Lots as per setting 0.01/200 balance last week - this week it only used 0.01 Lots in a $4150 acc-balance with the same 0.01/200-balance setting.

Also - last week the EA did not close my basket at my setting of -20% SL (to give it more room) - most probably because I logged out of the account shortly after the basket opened, unwittingly canceling the EA. So the basket ran on to close at 5% TP on Wednesday (I think) while my acc was open to see whats cooking. Then I checked (calculated) how far the basket-pairs went further by Friday-late - and it would've gone to approx 14% gain by London-close on Friday.
.............So this week I set 10% TP (with 20% SL for more room) - but with only 0.01 Lots, I doubt it would reach 5% TP, let alone my test for 10% TP.
I must hold the record this week SL hit within 15 mins lol....almost 1% per min!!

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Quoting TrkgSailor
mrdfx - thanks for your generosity of this EA. Plz don't get me wrong - I'm not bitching - merely airing my observation about your "+5% TP hit in a cpl of hours! This is the kind of week I was waiting for!" I believe you (and some others) were "just lucky" this week - because of the Red News on AUD at 5:30 happen to go in your trade's favor. But 2 weeks ago the AUD Red News shortly after basket-open took AUD's and NZD's against our 3:++ trades-open (as Kefmawin said on Page 19). The Red News direction is a 50/50 gamble - where-as...

As I understand it, the idea is to open trend-following positions on pairs which have established both short- and long-term trends. The odds of a trend continuing compared to the trend reversing are better than 50:50.
  • Post #446
  • Quote
  • Edited at 2:16pm Dec 3, 2019 1:48pm | Edited at 2:16pm
Quoting ppwest
I must hold the record this week SL hit within 15 mins lol....almost 1% per min!! {image}
hi, i have 2 question about your results:

1- are you sure open time of your basket was correct ? why 12:05 pm ?

2- what was the basis of your lot size selection ? 0.01/1000 or 0.01/200 or ... ?

thank you
tuxTrader - you are correct with both statements, per se. But you might be missing my (and Kefmawin) point - that the short-term shot resulting from a Red News could go 50:50 in any direction, after you've committed with a basket open. Two weeks ago the AUD's Red News went against our committed basket, and took the NZD-pairs with it = bad-luck. This week the AUD Red News (and NZD-pairs) just so happen (50:50) to be in the same direction as the longer trend and committed basket = good-luck. Hence the idea to wait until after such early Red News before the basket could establish itself - and open the basket once the dust settled with more odds (no guarantee).
Sorry tuxTrader - I replied to tomorton.
Quoting tuxTrader
{quote} hi, i have 2 question about your results: 1- are you sure open time of your basket was correct ? why 12:05 pm ? 2- what was the basis of your lot size selection ? 0.01/1000 or 0.01/200 or ... ? thank you
Broker time +2 GMT so 10:05 am 2 hours after London open.
Lot size 0.01/200
Quoting ppwest
{quote} Broker time +2 GMT so 10:05 am 2 hours after London open. Lot size 0.01/200
i think open time of basket in this strategy doesn't need any calculation and this type of calculations is definitely a wrong approach. just simply try around 03:00 am to 04:00 am of your broker/server time for open time of basket. your open time (10:05 am or 12:05 pm) is the third or fourth H4 Candle of Tuesday not the first one that mentioned in first post! the fourth rule in first post confirms this:

Quote
4. I normally wait for the first H4 candle to be fully formed so more or less 3 hrs after the Monday daily close.

and about lot size i think 0.01 lot per 200 account balance is very high and risky value that maybe brings you sometimes high profit but it increase chance of early SL hitting too. if you see your results on this strategy from previous weeks to this week, you had 3 weeks with 10% SL, 1 week with 5% TP and 1 week with 1.63% TP with this approach.

I hope you're not upset of my criticism
Regards
Today result , again 5% tp hit

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Quoting tuxTrader
{quote} i think open time of basket in this strategy doesn't need any calculation and this type of calculations is definitely a wrong approach. just simply try around 03:00 am to 04:00 am of your broker/server time for open time of basket. your open time (10:05 am or 12:05 pm) is the third or fourth H4 Candle of Tuesday not the first one that mentioned in first post! the fourth rule in first post confirms this: {quote} and about lot size i think 0.01 lot per 200 account balance is very high and risky value that maybe brings you sometimes high profit...
There was no hard rule for opening times as stated by the OP hence why I wanted to experiment with different opening times.

The money management I used was the same as the OP.
Quoting ppwest
{quote} There was no hard rule for opening times as stated by the OP hence why I wanted to experiment with different opening times. The money management I used was the same as the OP.
yes i know it's not hard rule but not as easy as shifting about 7 or 8 hours ! it's not hard rule for changing utmost 1 hour less or more. anyway it's my opinion, not OP and maybe i'm wrong.
Quoting mrdfx
Hello guys apologies for being away and the delay in uploading a new version of the EA, but I've been super busy with some personal things these last days. I'll read back and try to reply to everyone over the next few days. Attached is the EA with expiry set to 31/12. Post 1 updated! Lets hope for a good profitable week! EDIT: Picked up another small bug with the trailing stop, just as I thought everything was fixed. Please don't use trailing stop until I upload the fix. Besides that all is working as it should. {file}
Please see attached a new version 1.3!

This version has the trailing stop fixed and has been tested working. This is now the most current and bug free version until someone picks up something funky happening lol. As always please test on demo first if you will use this EA until I have confirmed it is 100% working. Thanks!

Post 1 updated!
Attached File
File Type: ex4 Follow The Candles EA.ex4   232 KB | 66 downloads
Truth is like poetry. And most people f*cking hate poetry.
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