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Mechanic Trading (better with EA)

  • Post #1
  • Quote
  • First Post: Feb 9, 2007 6:16pm Feb 9, 2007 6:16pm
Well, maybe this idea is ready to read in another thread... bet this is what i think when i make a little observation about GBPUSD from Jan 2006

SETUP the CHART:

put horisontal line for every price at 03... You can do that at 1.9303, 1.9403. 1.9503, and so on


The Rule.. (with 10.000$ account)

1. when price at 03, open BUY 2 position, each with 0,1 lot
2. 1st OP, give TP to the next price with end number 97
3. 2nd OP, give TP to the next price with end number 50
4. if the 2nd OP is closed, and then the price go down to 00 again, then OP
again 2nd trade with TP at 50




example...

GBPUSD is at 1.9500


Open 2 position, 1st target with TP to 1.9597, another with TP at 1.9550

if the price goes to 1.9600, then we collect (97 pips + 47 pips) - spread(4x2=8) = 146 pips.

if the price goes to 1.9560 and then pull back to 1.9500, so we collect 47 pips -spread (4) = 43 pips

and then we open again at 1.9503 0,1 lot BUY with tp at 1.9547

i believe, it will be good with EA
Simplicity your Life
Quoting stevenali
...
example...

GBPUSD is at 1.9500


....
I think the number in red should read 1.9503.

I have a few questions:

  1. Where does this 03 come from?
  2. What about SL?
  3. Is there a trailing stop or move to breakeven in place?
  4. Have you backtested this strategy or it's just an idea?

Thanks,
Al

Quoting aparsai
I think the number in red should read 1.9503.

I have a few questions:

  1. Where does this 03 come from?
  2. What about SL?
  3. Is there a trailing stop or move to breakeven in place?
  4. Have you backtested this strategy or it's just an idea?

Thanks,
Al

i mean 1.9503... the number comes from my observation. end number 000 is usualy strong resistence. price touch it and then go down again. so maybe it's just a little confirmation. price 97.. same with why i chose 03


in this strategy, we are not using SL, SL is in our Moneymanagement.

i have backtest manually from jan 2006, and the worst thing is price trending down for 400. we can still profitable here..

another idea of stop lost is if your profit > than your lost.. then cut it lost

all of your opinion is great thing for me
Simplicity your Life
well it is an idea but it would sound much better with some stop loss

But if you ever observed when price hits a round number like 1.500 or 1.400 or whatever it frequntly retraces for at least 20 pips maybe it would be even better to wait for retracement and then to enter the position and to place stop loss some 10 pips behind max retracement....

just thinking.
Quoting stevenali
i mean 1.9503... the number comes from my observation. end number 000 is usualy strong resistence. price touch it and then go down again. so maybe it's just a little confirmation. price 97.. same with why i chose 03


in this strategy, we are not using SL, SL is in our Moneymanagement.

i have backtest manually from jan 2006, and the worst thing is price trending down for 400. we can still profitable here..

another idea of stop lost is if your profit > than your lost.. then cut it lost

all of your opinion is great thing for me
I think if you work on a few issues you may turn this to a very successful strategy:

 

  1. Filter out false trades with the helo of an indicator.
  2. Find a point that you need to move to BE. Use backtesting for this reason. For example you might find that if you move 30% toward TP you'd better to move SL to breakeven to avoid losing monye.
  3. Find a criteria for SL. It might be a fixed value, based on Fib levels or any other method that you feel you're comfortable with.

You need to backtest your system manually for several trades and adjust your settings accordingly. When you feel this is going to work then we can develop an EA based on your strategy and then backtest it extensively for at least 2 years past data (minute by minute).

i'm not good in programing, so i ask my friend to do it. but he only give me ex4 file... i hope you can find some good idea here
Attached File(s)
File Type: ex4 bvEA_Steven02.1.ex4   4 KB | 629 downloads
Simplicity your Life
  • Post #7
  • Quote
  • Edited Feb 25, 2007 3:19am Feb 24, 2007 6:43pm | Edited Feb 25, 2007 3:19am
Quoting aparsai
I think if you work on a few issues you may turn this to a very successful strategy:

  1. Filter out false trades with the helo of an indicator.
  2. Find a point that you need to move to BE. Use backtesting for this reason. For example you might find that if you move 30% toward TP you'd better to move SL to breakeven to avoid losing monye.
  3. Find a criteria for SL. It might be a fixed value, based on Fib levels or any other method that you feel you're comfortable with.

You need to backtest your system manually for several trades and adjust your settings accordingly. When you feel this is going to work then we can develop an EA based on your strategy and then backtest it extensively for at least 2 years past data (minute by minute).

Oke.. here is my opinion, we will use EMA 21 median price at 4H as a filter

the rule if price is above EMA 21 MED PRICE

Open 4 position LONG , 2 open at 03... TP is 97 and 2 open at 03 and TP at 50



the rule if price is below EMA 21 MED PRICE

Open 4 position,

1st OP is Short at 97... tp is 50
2nd OP is Short at 97 and TP is 03

3rd OP is Buy at 03... tp is 50
4th OP is Buy at 03... tp is 97

the beauty of this filter is if we got ranging market... it will Swing and reduce the floating to minimum

we can use MM as our target, if Equity is rise 10% we can close all trades, then get started again..


so haw about this idea?
Simplicity your Life
do you use this on live account?
Instead of plotting the lines by hand, you can use this indicator. Hope it helps
Attached File(s)
File Type: ex4 Grid Builder.ex4   3 KB | 570 downloads
By quickly looking over a chart, the pivot point could be a very simple filter for your system. For example, only go long if the price is above the pivot, and only go short when its below. Seems to filter out some of the bad trades. I also noticed that last few days you would have gotten whipsawed to death on cable around the 1.9500 area. Good luck !!
Attached File(s)
File Type: mq4 PrevDayAndFloatingPivot.mq4   4 KB | 577 downloads
  • Post #11
  • Quote
  • Edited 3:28am Feb 25, 2007 3:13am | Edited 3:28am
Quoting zawodowiec
By quickly looking over a chart, the pivot point could be a very simple filter for your system. For example, only go long if the price is above the pivot, and only go short when its below. Seems to filter out some of the bad trades. I also noticed that last few days you would have gotten whipsawed to death on cable around the 1.9500 area. Good luck !!
i agree with you,
so in my money management rule is.. for every $10.000, we only play 0,2 lot
so every open position is 0,05 lot..

with this, the margin is enough to face 500+ pips going down...
Simplicity your Life
Quoting u_atatunc
do you use this on live account?
i'm not ready for using it in live with manually... so i need EA to do this, but i'm not good in programing EA..

(i use another methode to trade now... but my idea is come from MIZUHO analysis, Mizuho is always trade in one direction .. only LONG. another account of mine give me 30% when i follow MIZUHO's analysis blindly..)

can you help me programing EA for this theory..?
Simplicity your Life
Quoting zawodowiec
Instead of plotting the lines by hand, you can use this indicator. Hope it helps
thx for this indi.. very helpfull
Simplicity your Life
Quoting zawodowiec
By quickly looking over a chart, the pivot point could be a very simple filter for your system. For example, only go long if the price is above the pivot, and only go short when its below. Seems to filter out some of the bad trades. I also noticed that last few days you would have gotten whipsawed to death on cable around the 1.9500 area. Good luck !!
thx for this too.. is it repaint the past?? r u using it in your live trading? thx
Simplicity your Life
i need to plot EMA 21 med price 4H at 1H chart..
can anybody help me..? many thx
Simplicity your Life
Quoting stevenali
i need to plot EMA 21 med price 4H at 1H chart..
can anybody help me..? many thx
Look at this...

http://newsletter.neoticker.com/?p=104

Quoting stevenali
thx for this too.. is it repaint the past?? r u using it in your live trading? thx
Really, its just a standard pivot point, so it doesn't repaint. Using pivots can be useful, im still learning though.
I do have some materials on trading pivot points, so if you want them just let me know.
  • Post #19
  • Quote
  • Last Post: Jul 9, 2007 9:34am Jul 9, 2007 9:34am
Quoting zawodowiec
I do have some materials on trading pivot points, so if you want them just let me know.
Hi Zawodowiec, I am interested on this material you say... would apreciatte much, thanks Walter.
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