chyi's EA for the one trade a day method

Hi chyi,

If you could post your ea here i would be very happy to test it.

Cheers,

Punta

Thanks Punta.

For your information, I have forward tested this strategy since 1st Feb until now and not producing positive results. I would advise anyone to do a full test on this strategy at least 2 months before you go. I have written an ea for this and not going to further develop until someone claim that this strag is working in his results. Sorry this was delayed as I do not have time to post until now.

The following ea is done in shortest time possible before further tuning it to be more user friendly as it has not yet proven (forward test) profitable.

Parameters to be set:
ServerGMT: can be positive or negative number, calculate your broker GMT/UTC differential (note the daylight savings).

MagicNum: an unique number to track this group of opened/closed trades

LotDecimal: some broker does limit the lot size decimal to 1 only. Example: have it set to 2 if your broker accept 0.01

USD1_PerPip_LotSize: this is to calculate micro/mini/etc. Put in a lot size that one pip = USD 1.00 profit.

StopLossPips: leave it as default which follows ggrey strag, read 1st post.

Targeted_Net: put a 10% based on your equity to the month's target, currently you have to do this manual every beginning of the month once.

StopLoss_Risk: (percentage) leave it as default which follows ggrey strag, read 1st post.

StopLoss_Pips: leave it as default which follows ggrey strag, read 1st post.

Thanks for the ea - just wanted to say it did not trade today on my Oanda demo account.

I think it may be that the open of both candles were very close.

I believe its the Time Settings. Please take a look at Oanda Market Watch time and determine the UTC/GMT.

No trades on both demo platforms and I know i have the times correct.

Worked fine today on my demo MT4 FxOpen. Made 2.5% loss exactly as it should.

The only problem is, I'm not sure it's correcting the new target TP correctly. It says targeted pips now 82 .... shouldn't it now be 10% + 2.5% loss = 12.5%, or 100 pips?

I'm going to continue testing this in demo this month.

Cheers for this, Chyi!

Placed the trade reliably again today; another 2.5% loss

The EA has now calculated the target pips to be 84 - after each loss it seems to be adding 2 pips to the target profit, instead of 2.5% !

It's no big deal to change the TP once the trade has been placed, however. It still calculates the direction and lot size and places the trade quicker than I can do manually. And the one day when we were in the 9 pip no-trade zone (28th Feb, I think), it didn't place a trade.

March progress so far: -5%, TP tomorrow = 120 pips

This makes another loss for a Wednesday. I may stop trading this strategy on Wednesdays. I'll review at the end of March.

Trade was placed in the correct direction, and for the first time the trade ran on to the close of the candle. The EA correctly closed the trade at 9am GMT.

1 pip win, but with spread, it amounted to a small loss.

-5.6% so far. Tomorrow's target is 125 pips TP, 20 pips SL for 2.5% risk.

Note: The EA has calculated tomorrow's target TP = 85.

I have worked out how the EA is incorrectly calculating the next TP. It is multiplying the original TP (80) with the increased percentage to recover the loss

eg. 5.6% loss, EA calculates TP = 80 x 1.056 = 84.48 rounded to 85.

The correct calculation should be:

If 10% profit = 80 pips, 1% = 8 pips. Therefore 5.6% loss equates to 5.6x8 = 44.8 pips
So with 5.6% loss, TP = 80 + 44.8 = 125 pips (rounded)

Chyi, if you could correct this calculation in the EA, it would be perfect!

Will not trade for me on crappy Oanda - just keep getting the invalid stops message

Well, the EA surprisingly opened a trade today even though there should have been No Trade (candle difference less than 9 pips). I thought this function had been built into the EA when it didn't trade on 28th Feb, but this must have been because the EA thought target pips had already been reached that month.

Anyway, it was a good trade +41 pips!! Nearly all the loss so far has been recovered.

March progress so far: -0.93%
Target pips for next Monday: 82

Took a sell on FXXD demo account as well for me. i have totally given up on Oanda.

I think we should of had a buy if trading without the 9 pip rule. i will check the 12.00 candle opening price later.

No - the EA got it right; should have been a Sell.

I hope Chyi returns to make the needed corrections to this EA. It works great except for the profit calculation

Good buy win today: +36 pips

ROI for March: 3.53%
Pip target tomorrow: 52 pips

Another 6 pips with this EA today.

ROI for March 4.31%
Target pips tomorrow: 46

puntalara, could you help me to edit my post replacing the old ea? i think i'm not allow to edit it.

anyway here's the updated version 1.5:

1. corrected TP (thanks erwal for highlighting it)
2. added minimum pip differential compared to today's 00:00 gmt+0 (new added suggestion at http://www.forexfactory.com/showthread.php?t=275947)

Erwal, appreciate if you could test it further. Thanks.

I do not think i am allowed to change/edit other peoples posts

Big thanks for the new EA

1st day trading with the v1.5 EA today (demo).

Took 2.5% loss
ROI for March: 1.71%
Target pips for tomorrow: 66

New EA seems to be working well - pips target correct. Thanks Chyi

Another day diving straight to stop loss

ROI for march: -0.83%
Target pips for tomorrow: 87

New EA seems fine so far

yep - seems to be working great.

Just need a winner or two now

Nice 16 pip win today.

ROI for March: 1.15%
Target pips for Monday: 71

Thoughts are with our fellow traders in Japan today