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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)

It is important to have the correct parameters, on the previous post I was using 90 pips body candle size.

Now with 100 pips the game changed:

GBPUSD - FROM 2010.01.01 to TODAY with body size = 100 pips and TP = 30 pips
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Your losses with 90 pips bodysize after a ~700 pips drawdown show that you are high leveraged.
Your should not expect to gain more than 10% per year per pair.
So just reduce your leverage.

Second, 90 pips bodysize is too small for GU. Even 100 is not enough.
When you run an optimization, you should get a bodysize value that if you reduce it or add it by 15-20% it will still not change the DD in such a big a difference.
is the ea ready´. I LIKE TO TRY IT OU
Quoting smilee89
Your losses with 90 pips bodysize after a ~700 pips drawdown show that you are high leveraged. Your should not expect to gain more than 10% per year per pair. So just reduce your leverage. Second, 90 pips bodysize is too small for GU. Even 100 is not enough. When you run an optimization, you should get a bodysize value that if you reduce it or add it by 15-20% it will still not change the DD in such a big a difference.
What you mean by "...you're highly leveraged..." ???
Are you talking about lots sizes?

I'm doing 0.03 / $ 2,000

initial capital: $10.000
lot size = 0.15

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Try 0.01/2000
Quoting smilee89
Try 0.01/2000
That worked! Thanks Smilee

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BUT the best thing to do is to find better Min Candle Body Size to avoid those huge DD.

I will review my parameters/optimizations.

Thanks one more time.
Quoting TheZenienss
BUT the best thing to do is to find better Min Candle Body Size to avoid those huge DD. I will review my parameters/optimizations. Thanks one more time.
Do you have this EA sir?
Working on backtesting this strategy on different pairs. Has anyone tried this strat on data w/ GBPCHF? 110 pip range/30 PT is blowing the account for me. Using 150 works. I'm downloading tic data atm (haven't used this in years). Once I get this downloaded I'll post some results I'm getting. Probably tomorrow or this weekend.

A year or so ago I've traded my own similar strategy like this but right after I started, I had to stop trading for a few months to focus on some other projects, family, home sale/purchase, etc. Looking forward to getting back into it!
Quoting queenscalper
{quote} Do you have this EA sir?
This is a really easy one to build. You can't rely on other people for anything so DIY baby!

It's a good idea to learn how to build your own EA's anyway, especially if you are planning on trading FX. I'm not a coder but I found few ways to build them w/o knowing anything about coding. I trade professionally with my own hokey EA's I built from some amazing software and it makes me money. Maybe one day when I have some free time I'll do my own FF thread.

Do yourself a favor and search for EA building software that fits what you need. It will help you tremendously!
Before you upload results, refer to this first:
https://www.forexfactory.com/thread/...0shared%20here.
Quoting TheZenienss
{quote} GBPUSD - from 2018.01.01 to 2021.04.16 {image} {image}
Hi TheZenienss ,

where can I find the EA? thx in advance..
Quoting smilee89
Before you upload results, refer to this first: https://www.forexfactory.com/thread/...0shared%20here.
I totally agree. No reason to have crap posted. I see enough whiney posts from people coming on, posting their discouragement. Nobody needs that.

Just to review before I post anything at all - this is my understanding of the strategy and please correct me if I'm wrong.
1. Look for candles with a large RANGE (not bodies), outside of its normal range. Example., ~110 for EURUSD, ~150 pips for GBPJPY, ~70 pips for EURCHF, etc.
2. Open trade, at beginning of the day, opposite direction of previous day. Avoid spreads larger than 4 pips.
3. Use 25-35 pip PT, depending on volatility.
4. If trade does not hit PT, open a new trade of the same lot size the next day, regardless of candle size. Repeat until B.E. or better and close the entire basket.
5. Use a large % (20-30%) as an emergency SL.

I'll post screen shots asap as long as this is the correct strat and then post the EA from there once the screenshots are verified.

Thank you!
Wrong.
Read my guide again.
Quoting smilee89
Wrong. Read my guide again.
Would you mind telling me which part is incorrect? I have read it and can't see any difference.

Edit : I see one issue. Body, not range, should be 110 pips. However I don't see any other major difference.
Look for candles with a large Body

If trade does not hit PT and current Daily Open price is behind last entry, open a new trade of the same lot size regardless of candle size. Repeat until B.E. or better and close the entire basket.
How do you deal with the spread? I thought of opening at 23:30 but then you gotta pay finance charge +-swap. Maybe better to wait an hour or so for the spread to drop?
Quoting Ryang123
How do you deal with the spread? I thought of opening at 23:30 but then you gotta pay finance charge +-swap. Maybe better to wait an hour or so for the spread to drop?
You can make your EA watching the spread everytick and once the spread becomes lower than the maximal allowed spread for X consecutive ticks, it will open the trade if all other conditions still meet.
Quoting TheZenienss
{quote} That worked! Thanks Smilee {image} {image} {image} {image}
What about if it was keep going up?
Quoting Merka
{quote} What about if it was keep going up?
If it keeps going up and doesn't close by average price then it will be closed by the max loss (20/30%) of your account balance.

This can happen once in a decade as Smilee mentioned.

That's why it's important to find the correct parameters for each pair.

In this test using GBPUSD since 2010 until today, the max loss was not reached at all.

thank you
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