mphpopular "system gbpjpy - breizhfx"

This thread is a journal for system on gbpjpy.

A very thank you for our breizhfx for sharing out this.

"System on gbpjpy" thread :
http://www.forexfactory.com/showthread.php?t=68023

Here I attach again the full set of the indicators and the template again.

gjb1

Result on taking late signal. SO plz do not do so. Plz do follow the system rules well.

gjb2

All entries is taken at the opening of the new candle once all the indicators is agree.

gjb3

The arrows in the chart showing out the entries and exits is by using the following indicators.

NOte: The indicators have some problem whereby it cant allocate the arrow correctly at the exit price. SO if anyone can fixed it up, plz do send me the corrected version.

gjb4

gjb5

After i do some homework and review back the gbpjpy 30m chart manually.

WHen the trade is not hit the SL and TP,

1) Exit when QQE change direction
2) Exit when PSAR or Slope change direction
3) Exit when NMACD change direction

The best choice is to take (1).

This might still need a test of further testing. So, let's us see how it perform.

Hi traders ,
I post a trade, i m Long ...

gjb6

Starting from this trade, I will work according the TP rule that has predefined by our breizhfx.

SL is first set at PSAR. When it reach the first TP (40pips), the EA closed 0.10 of the position and adjust the SL to entry point +1 and will close the position once it reach 200pips.
I try to use this EA to auto set the TP and SL, and I hereby attach the EA and the setting of the EA that I using.

BUt as you can see from this trade, the EA actually still having bug and still in developing phase.

SO you can have 2 choice:
1) Do it all manually.
2) If you're busy, juz let the buggy EA do for you. At least there is some one managing the trade for you.

Hi,

Glad to see you here. Wish here will be your second home in future.

And thanks for joining me in here. If not, I'll be all alone again.

mphpopular

HI , lost !!! - 60pips .. I was too late !!

Guess here's come the another chance? I mean for the short. I waiting for the candle close.

Edit: Seem like QQE not yet crosses. So waiting and waiting again.

gjb7

I did monitor the market movement closely, the EA suppose the close the half at 40pips, but the market move too faz and the EA unable to close it. So, I close it at +22pips for the first half.

And change the SL to entry point +1 for another half.

Note: If this trade were managed properly, first 0.10 should be closed at +40pips, and another 0.10 will be closed at +1pips.

@breizhfxHi,Did you notice the interesting scenario about 8hours back from now (0100GMT 2Sept08).Whereby there is a LONG QQE signal and there is another SHORT QQE signal followed at behind. The LONG signal would have cost us a big loss. Is it anyway to overcome the false signal for the LONG signal?I'm using IBFX data feed, and I guess it is a bit difficult to explain here, wish breizhfx could open up the chart and review abit on it.Sorry for cant posting up the charts, cause I now in my hometown and will stay for 2 days break. Once I'm back, I'll posting up the charts and so on.

gjb8

Abit late to posting up this bcoz I was back to my hometown.

Case Study :-

Now let us do some papertrade using this method for this week.

Below chart is showing all the trades for this week from 1Sept08 - 4Sept08.

Fixed variable:
1) All trades enter and exit at the exact candle open price.
2) Spread 8 is included when calculating this.
3) No late entries and exit.
4) Using the predefined rules.
5) No swap charges.

Case1:
Using 0.10lot and TP 40.

Case2:
Using 0.20lot, close 0.10 at TP 40. Then set SL to breakeven +1 when first TP reach. Then 2nd TP will be 200.

Case3:
Using 0.20lot, close 0.10 at TP 40. Then set SL to breakeven +1 when first TP reach. Then 2nd TP will be 100.

(Case1) All calculate in pip value

Trade1:
Enter Short : 193.18
Exit : 192.78 (TP)

Profit : 40
Accumulated : 40

Trade2:
Enter Long : 194.70
Exit : 193.29 (Exit bcoz QQE short signal)

Profit : -141
Accumulated : -101

Trade3 : (Trade 3 open in the same candle & price while Trade 2 is closed)
Enter Short : 193.19
Exit : 194.14 (Exit bcoz QQE long signal)

Profit : -95
Accumulated : -196

Trade4 :
Enter Long : 194.22
Exit : 194.62 (TP)

Profit : 40
Accumulated : -156

Trade5 :
Enter Short : 193.52
Exit : 193.12 (TP)

Profit : 40
Accumulated : -116

Trade6 :
Enter Long : 193.96
Exit : 193.12 (SL)

Profit : -84
Accumulated : -200

Trade7 :
Enter Short : 192.84
Exit : 192.44 (TP)

Profit : 40
Accumulated : -160

Trade8 :
Enter Long : 193.09
Exit : 192.25 (SL)

Profit : -84
Accumulated : -244

Trade9 :
Enter Short : 192.37
Exit : 191.97 (TP)

Profit : 40
Accumulated : -204

Trade10 :
Enter Long : 192.23
Exit : 192.63 (TP)

Profit : 40
Accumulated : -164

Trade11 :
Enter Short : 192.61
Exit : 192.21 (TP)

Profit : 40
Accumulated : -124


Note:
All the trades were open at the exactly where the line is drawn.
Some trades were open a few bars later after the QQE is out bcoz NMACD havent agreed yet.

(Case2) All calculate in pip value.

Trade1:
Enter Short 0.20 : 193.18
Exit 0.10 : 192.78 (TP)
Exit 0.10 : 193.17 (SL)

Profit : 41
Accumulated : 41

Trade2:
Enter Long : 194.70
Exit 0.20 : 193.29 (Exit bcoz QQE short signal)

Profit : -282
Accumulated : -241

Trade3 : (Trade 3 open in the same candle & price while Trade 2 is closed)
Enter Short : 193.19
Exit 0.20 : 194.14 (Exit bcoz QQE long signal)

Profit : -190
Accumulated : -431

Trade4 :
Enter Long : 194.22
Exit 0.10 : 194.62 (TP)
Exit 0.10 : 194.23 (SL)

Profit : 41
Accumulated : -390

Trade5 :
Enter Short : 193.52
Exit 0.10 : 193.12 (TP)
Exit 0.10 : 193.51 (SL)

Profit : 41
Accumulated : -349

Trade6 :
Enter Long : 193.96
Exit 0.20 : 193.12 (SL)

Profit : -168
Accumulated : -517

Trade7 :
Enter Short : 192.84
Exit 0.10 : 192.44 (TP)
Exit 0.10 : 192.83 (SL)

Profit : 41
Accumulated : -476

Trade8 :
Enter Long : 193.09
Exit 0.20 : 192.25 (SL)

Profit : -168
Accumulated : -644

Trade9 :
Enter Short : 192.37
Exit 0.10 : 191.97 (TP)
Exit 0.10 : 192.36 (SL)

Profit : 41
Accumulated : -603

Trade10 :
Enter Long : 192.23
Exit 0.10 : 192.63 (TP)
Exit 0.10 : 192.24 (SL)

Profit : 41
Accumulated : -562

Trade11 :
Enter Short : 192.61
Exit 0.10 : 192.21 (TP)
Exit 0.10 : 190.61 (TP2)

Profit : 240
Accumulated : -322

(Case3) All calculate in pip value.

Trade1:
Enter Short 0.20 : 193.18
Exit 0.10 : 192.78 (TP)
Exit 0.10 : 193.17 (SL)

Profit : 41
Accumulated : 41

Trade2:
Enter Long : 194.70
Exit 0.20 : 193.29 (Exit bcoz QQE short signal)

Profit : -282
Accumulated : -241

Trade3 : (Trade 3 open in the same candle & price while Trade 2 is closed)
Enter Short : 193.19
Exit 0.20 : 194.14 (Exit bcoz QQE long signal)

Profit : -190
Accumulated : -431

Trade4 :
Enter Long : 194.22
Exit 0.10 : 194.62 (TP)
Exit 0.10 : 194.23 (SL)

Profit : 41
Accumulated : -390

Trade5 :
Enter Short : 193.52
Exit 0.10 : 193.12 (TP)
Exit 0.10 : 193.51 (SL)

Profit : 41
Accumulated : -349

Trade6 :
Enter Long : 193.96
Exit 0.20 : 193.12 (SL)

Profit : -168
Accumulated : -517

Trade7 :
Enter Short : 192.84
Exit 0.10 : 192.44 (TP)
Exit 0.10 : 192.83 (SL)

Profit : 41
Accumulated : -476

Trade8 :
Enter Long : 193.09
Exit 0.20 : 192.25 (SL)

Profit : -168
Accumulated : -644

Trade9 :
Enter Short : 192.37
Exit 0.10 : 191.97 (TP)
Exit 0.10 : 192.36 (SL)

Profit : 41
Accumulated : -603

Trade10 :
Enter Long : 192.23
Exit 0.10 : 192.63 (TP)
Exit 0.10 : 193.23 (TP2)

Profit : 140
Accumulated : -463

Trade11 :
Enter Short : 192.61
Exit 0.10 : 192.21 (TP)
Exit 0.10 : 191.61 (TP12)

Profit : 140
Accumulated : -323

Conclusion:

TP of 100 or 200 doesn't make a big difference in our case.
But lots of 0.20 or 0.10 making a big difference.

Guess you need to consider yourself whether to open it with 0.20 or 0.10.

Edit:
Will continue to test using 0.20, so we'll know whether 0.10 or 0.20 better. But at least for this week, no matter which one you use, mostly end with losses

gjb9