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Attachments: DOS. Daily Open Strategy. Easy To Trade, Simple To Win (EA..soon)
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DOS. Daily Open Strategy. Easy To Trade, Simple To Win (EA..soon)

This strategy looks very interesting (even created an account ), it gives me pretty good results, but I wanted to make minimum bar size and take profit values dynamic instead of fixed, so it would be adaptable to changing market conditions, but I failed miserably.


I've been calculating average size of a bar for x period, excluding bars smaller than 20 pips and set for example minimumBarSize = average * 1.3 or *1.5 and takeProfit = average * 0.2 or * 0.4. It doesn't work properly, fixed values give much better results. Also tried with ATR, didn't work. Gonna figure out something better than this.
Hi all, I have been using this trading system since October 2020. In the first 3 months I wrote the VBA code to backtest and optimize the strategy and started to trade with small lots. Since January 1 I am live. First of all I want to thank Smilee89 for sharing this method which I think is simple and effective. I would like to give some advice to those who want to trade this strategy:
1) it is necessary to backtest thoroughly in order to determine for each cross what is the minimum level of the daily leg and the most appropriate take profit. To do this you will need a matrix structure.
2) from the analysis you will discover that there are crosses that one does not have to trade and that the volatility of market changes drastically the base setup in the course of the time (currently I am using data sets of 4 years, while the work of initial test has been made on 10 years).
3) you need to focus a lot on analysing trades that fail on day one and need to be recovered. There are many averaging methods and I believe that the linear one is not the most effective.
4) if you are good at programming you will also find that this system can also work in a multiday leg perspective, in fact it works even better than the one day leg.
5) it is useful to introduce a risk coefficient into your backtesting which represents your risk aversion and which you can relate to profits to assess the best risk/reward mix for each cross.
6) pay close attention to the analysis of extreme events and systems to reduce them.
The winning trade from November 2020 to date on the DOS strategy is 74% and on the multiday strategy 79%. The results since January 1 are about 500 pips (but I gave up about 42% of the trades, if I had traded 100% of the possibilities it would have been about 700 pips).
I am very happy with the results and encourage anyone who wants to try trading the DOS strategy.
Quoting Asterix01
Hi all, I have been using this trading system since October 2020. In the first 3 months I wrote the VBA code to backtest and optimize the strategy and started to trade with small lots. Since January 1 I am live. First of all I want to thank Smilee89 for sharing this method which I think is simple and effective. I would like to give some advice to those who want to trade this strategy: 1) it is necessary to backtest thoroughly in order to determine for each cross what is the minimum level of the daily leg and the most appropriate take profit. To...
Hy are you in manual? I'm using old dashboard (with some issue) ad i've 2 groups of pairs with different pip size candel entries. Results seems good even if sometimes DD and time is high...... If you could share your result is relly appreciated
Regards
Quoting Asterix01
Hi all, I have been using this trading system since October 2020. In the first 3 months I wrote the VBA code to backtest and optimize the strategy and started to trade with small lots. Since January 1 I am live. First of all I want to thank Smilee89 for sharing this method which I think is simple and effective. I would like to give some advice to those who want to trade this strategy: 1) it is necessary to backtest thoroughly in order to determine for each cross what is the minimum level of the daily leg and the most appropriate take profit. To...
Well done!
People here will appreciate if you upload your test results INCLUDING charts that show your entries and exists, as it will show if you really trade according the original strategy as posted in post #1.
Quoting smilee89
{quote} Well done! People here will appreciate if you upload your test results INCLUDING charts that show your entries and exists, as it will show if you really trade according the original strategy as posted in post #1.
@cescof: I confirm that I operate manually because I want to verify the single trades before sending them to market and because I prefer to give up those that I consider less probable
@smilee89: I would like to show everyone the methodology I used to test the system that is the basis on which to build your own personal strategy. I think in fact that the system should be customized on the basis of individual risk appetite that is very different for each of us. In any case I show you here below the matrix output of the strategy backtesting for each cross that can inspire you to improve the approach to the DOS strategy.

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Quoting Asterix01
{quote} @cescof: I confirm that I operate manually because I want to verify the single trades before sending them to market and because I prefer to give up those that I consider less probable @smilee89: I would like to show everyone the methodology I used to test the system that is the basis on which to build your own personal strategy. I think in fact that the system should be customized on the basis of individual risk appetite that is very different for each of us. In any case I show you here below the matrix output of the strategy backtesting...
This info will not help us to know if your EA complies the rules completely as described in OP.
By adding Excels, it will not let us know if you trade with the same rules.
Upload screenshots of your trades on Daily charts. Otherwise it is useless.

Example:
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Quoting smilee89
{quote} This info will not help us to know if your EA complies the rules completely as described in OP. By adding Excels, it will not let us know if you trade with the same rules. Upload screenshots of your trades on Daily charts. Otherwise it is useless. Example: {image}
Sorry but I never mentioned EA, I just described my VBA backtesting method. I trade manually based on automatic signals that I get from Excel which is linked to MT4. Obviously the rules set are the same as your strategy but customised based on the daily leg and take profit that I have determined for each cross based on my risk appetite.
Quoting Asterix01
{quote} Sorry but I never mentioned EA, I just described my VBA backtesting method. I trade manually based on automatic signals that I get from Excel which is linked to MT4. Obviously the rules set are the same as your strategy but customised based on the daily leg and take profit that I have determined for each cross based on my risk appetite.
So how do we know that your strategy executes trades according OP?
You still neglect my messages I wrote here many times - do no upload results (good or bad) that are not proven by screenshots of the trading chart, like the example I uploaded in my previous message.
Otherwise, it is just an Excel with no proof of accurate trading.
Quoting smilee89
{quote} So how do we know that your strategy executes trades according OP? You still neglect my messages I wrote here many times - do no upload results (good or bad) that are not proven by screenshots of the trading chart, like the example I uploaded in my previous message. Otherwise, it is just an Excel with no proof of accurate trading.
My idea when I wrote the forum posts was to show HOW the DOS strategy could be optimised, i.e. share a method to find the appropriate daily leg and take profit for each cross. I think I have found that method after 3 months of work, unfortunately I see that in the forum no one has grasped the importance of this point. I have posted an Excel sheet that for me is of fundamental importance and has been defined as "useless". Truly disheartening. I was hoping to find someone to compare myself to on strategy optimization because many users in the past have asked how to determine daily leg and take profit and there was no answer. Mine was an attempt to answer that question, but I see that there is no interest in talking about these topics. Thank you anyway for allowing me to express my idea.
Quoting Asterix01
{quote} My idea when I wrote the forum posts was to show HOW the DOS strategy could be optimised, i.e. share a method to find the appropriate daily leg and take profit for each cross. I think I have found that method after 3 months of work, unfortunately I see that in the forum no one has grasped the importance of this point. I have posted an Excel sheet that for me is of fundamental importance and has been defined as "useless". Truly disheartening. I was hoping to find someone to compare myself to on strategy optimization because many users in...
Hy... are this setting right for every pair? I think not but maybe I can't understand fully your table.
Thanks regards
Quoting Asterix01
{quote} My idea when I wrote the forum posts was to show HOW the DOS strategy could be optimised, i.e. share a method to find the appropriate daily leg and take profit for each cross. I think I have found that method after 3 months of work, unfortunately I see that in the forum no one has grasped the importance of this point. I have posted an Excel sheet that for me is of fundamental importance and has been defined as "useless". Truly disheartening. I was hoping to find someone to compare myself to on strategy optimization because many users in...
I think OP’s point was that you may want to supplement your information with demonstrations or charts on how your DOS is executed, such as charts showing entries, exits, rules you are follow or modify.

Otherwise others are not sure what strategies you are using, not to mention people don’t understand your excel sheet.

it’s like I post my statement, or a backtest EQ, they can look pretty, but how on earth can you know how I trade?
Quoting tommydoginti
{quote} I think OP’s point was that you may want to supplement your information with demonstrations or charts on how your DOS is executed, such as charts showing entries, exits, rules you are follow or modify. Otherwise others are not sure what strategies you are using, not to mention people don’t understand your excel sheet. it’s like I post my statement, or a backtest EQ, they can look pretty, but how on earth can you know how I trade?
Exactly!
Everyone should read this.
mr. Smilee89....congratulations on an amazing thread and system,you have me losing sleep going back in times :-) just looking at charts,thanks for the simplicity...keep up your great work
@Smilee89

I have an indicator that can be very useful to those that trade the DOS system. The main input values required are the Number of Candles to use to calculate the average body size and the Target Body Size %. If it is OK with you, I would like to post the indicator so that others can use. There is no cost or expiration date. It is ready to use.

Here is a screenshot of the indicator.

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Quoting yohec
@Smilee89 I have an indicator that can be very useful to those that trade the DOS system. The main input values required are the Number of Candles to use to calculate the average body size and the Target Body Size %. If it is OK with you, I would like to post the indicator so that others can use. There is no cost or expiration date. It is ready to use. Here is a screenshot of the indicator. {image}
Yes, you can.
I already tried body size ATR, and it did not improve the results.
Here is my Candle Body Size Indicator. The indicator display is shown in my previous post #694.

Load the indicator into a Daily chart, any pair. Make sure it is a daily chart. If you load it into a H1 chart, it will read the body size of the 1 hour candles.

The input screen looks as follows:

Attached Image


A brief explanation of the input parameters.

“Pair To Trade”: Every pair that is listed here will show “Y” in the display. This is not important for the indicator to work. It will show correct Candle Body Size whether “Y” or “N”. The reason I had this put in is in case an EA is used with this indicator, this value can be used to filter the pairs that are traded.

“Bars Calculate Average Size”: The number of previous candles to use to calculate the average body size.

“Target Body Size”: Target body size in %.

“Magic number”: Not important unless using this indicator with an EA.

“Warning Level (%)”: This gives you a visual alert when the candle size is near the target.

“Custom Input”: You can use this if you want to use different Number of Bars and/or Target Body Size for specific pairs. For example if you input “EURUSD,15,200”, it will use 15 candles and 200% target size for EURUSD.

“RMI Settings”: RMI indicator is not part of this system.

** EDIT ** You can find the indicator file in Post #699. I originally uploaded the wrong file in this post.
A few points about the indicator display.

The Daily Candle Size is measured starting at the New York open, 5:00 PM EST.

"Current Size (pips)" paints red if it is a bearish candle and green if it is a bullish candle.

"Current Size (%)" paints orange when the candle reaches the target size, or the warning level % indicated in the input screen.

"Active Trade?" paints orange if you have an active trade in the same account.
Quoting yohec
Here is my Candle Body Size Indicator. The indicator display is shown in my previous post #694. Load the indicator into a Daily chart, any pair. Make sure it is a daily chart. If you load it into a H1 chart, it will read the body size of the 1 hour candles. The input screen looks as follows: {image} A brief explanation of the input parameters. “Pair To Trade”: Every pair that is listed here will show “Y” in the display. This is not important for the indicator to work. It will show correct Candle Body Size whether “Y” or “N”. The reason I had this...
Sorry but i'm quite confused...
Donwloaded file is quite different from your screenshot above
Thanks
Regards
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Quoting cescof
{quote} Sorry but i'm quite confused... Donwloaded file is quite different from your screenshot above Thanks Regards{image}
I am sorry! I uploaded the wrong file. I have now deleted it from my Post #696.

Here is the correct file for the Body Size indicator.

Attached File(s)
File Type: ex4 Body_Size_v1.2.ex4   71 KB | 364 downloads
Quoting yohec
{quote} I am sorry! I uploaded the wrong file. I have now deleted it from my Post #696. Here is the correct file for the Body Size indicator. {file}
ok thanks
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