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GBP/USD - one trade a day

Quoting cgrey
Good observation.... I didn't mention this because this is done by my EA. I want to keep this thread on the topic of the "system" and not focus on the EA (which is also why I haven't posted it), but here's what is happening and why you see that:

My EA manages the 20-pip SL and whatever the TP is internally. The order will be closed (by the "rules") if it reaches -20 pips or the "target" TP. The SL and TP that are actually sent with the order by my EA are 10-pips above/below.

It won't affect the system - technically speaking, the SL and...
Is it still somehow possible to get the EA that you are talking about? You already mentioned it, so probably many people are interested.
Quoting Indrek
Is it still somehow possible to get the EA that you are talking about? You already mentioned it, so probably many people are interested.
No. I will not be posting my EA. I did not create it with the intention of it working for anyone other than myself under my platfrom and parameters. I am still not 100% confident that it is operating properly. And perhaps most importantly, I've seen far too many threads on FF that get sidetracked from discussing the system to supporting the EA or asking for additional features.

If someone else comes up with one and wants to share it (in a separate thread), I have no problem at all with that. I'm sorry if anyone isn't happy with this, but it really is about the simplest possible strategy to code - there are no indicators. Just open a trade at 08:00GMT with a SL and TP and close it at 09:00 if it is still open. There is no doubt it my mind someone will slap one together if this system starts to show potential and post it in a separate thread, allowing this one to stay free of "EA discussion".
Quoting cgrey
No. I will not be posting my EA. I did not create it with the intention of it working for anyone other than myself under my platfrom and parameters. I am still not 100% confident that it is operating properly. And perhaps most importantly, I've seen far too many threads on FF that get sidetracked from discussing the system to supporting the EA or asking for additional features.

If someone else comes up with one and wants to share it (in a separate thread), I have no problem at all with that. I'm sorry if anyone isn't happy with this, but it really...
I understand your point. But my intention was not to start any discussions about EAs. I just wanted to know if you can share it as a tool for managing trades and hiding SL/TP. Maybe even not by posting it here but sending via e-mail.
short at 1.5843 and hit SL
Quoting roundrock
short at 1.5843 and hit SL
I think you entered too soon: The enter is at 8h GMT. Actually it is 7h55 Gmt.
Quoting jeff75
I think you entered too soon: The enter is at 8h GMT. Actually it is 7h55 Gmt.
u r right. long at 5835.
Referring to post 39 in the trade of 13/01/2011 buy at 1.57426 and stoploss should be 1.57226 ( no 1.57128). The minimum is 1.57179 so the trade is losing


regards
21 pip loss today (spread was part of this, which is why it was more than 20 but not stopped out).

I went in long at exactly 08:00 at 1.5837.
Closed with the close of the candle (came within 0.1 pip of stopping out, but didn't on my platform)

This was a loss of 2.16%

So, for tomorrow:

11.66% to go for the month.
1:4.66 r:r
TP target = 93 pips
I assume that the open price of the 00:00 GMT candle is used, irrespective of whether there was a gap from Friday or Sunday?

Also, that the 9:00 open is used and not the close of the 8:00 candle - in case there is a gap
both assumptions are correct
http://www.fxhope.com/free/bigben.pdf

It's a step-by-step system for trading the European open.
Life happens at the level of events. Trust only movement. - Adler
today lost 3 pips. long at 5859. close at 5856
Loss of 5-pips today (-0.54%)

For tomorrow:
Target: 12.2%
r:r 1:4.88
TP target = 97.6 pips
Quoting KDo
I assume that the open price of the 00:00 GMT candle is used, irrespective of whether there was a gap from Friday or Sunday?

Also, that the 9:00 open is used and not the close of the 8:00 candle - in case there is a gap
Yes, always compare the open of the 08:00GMT candle to the open of the 00:00GMT candle to determine the direction of the trade.

I've not seen many gaps between 08:00 and 09:00, and I don't think it will come in to play often or make a huge difference when it does, but I technically close the trade with the first tick of the 09:00 candle.
During your back tests, how did you guys incorporate the spread? My broker gives me a 4 to 5 spread, so my margin of error is really 15 if I use a 20 SL.
Quoting KDo
During your back tests, how did you guys incorporate the spread? My broker gives me a 4 to 5 spread, so my margin of error is really 15 if I use a 20 SL.
change your broker , that is stealing your money, for cable max spread 3 most broker at 2.5. I have 1.3 - 2
Stopped out today for a loss of 22-pips (spread included). -2.42%

For tomorrow:
Target: 14.59%
r:r - 1:5.83
TP target: 117 pips
Quoting KDo
During your back tests, how did you guys incorporate the spread? My broker gives me a 4 to 5 spread, so my margin of error is really 15 if I use a 20 SL.
I factor the spread in. When my trade is placed, the volume is calculated based on 20-pips plus the spread at the time of the order. My "stop" isn't set as a SL, bur rather triggers the order to close if price has moved 20-pips against me. When that happens, the close will actually be for a loss of 20 plus the spread. This is exactly what happened today. The trade closed when it went against me by 20. The final loss was 22, but it was still only the 2.5% (2.42 actually) because it was all factored in when the trade was placed.
Roundrock - when you did your back tests and you compared stopping after 10% vs continuing, what target did you use? Did you start as if it was a new month ie aim for 10% again or did you have a fixed TP?
Quoting KDo
Roundrock - when you did your back tests and you compared stopping after 10% vs continuing, what target did you use? Did you start as if it was a new month ie aim for 10% again or did you have a fixed TP?
i didnt do compounding, each month is treated for same initial account size 10k and tp 10%

i did additional tests to let it run even after reaching 10%. here also same settings. each month is a test itself

if you do compounding, then the profitability will increase
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