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Attachments: Simple morning hours breakout system - forward test $1000 => ?
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Simple morning hours breakout system - forward test $1000 => ?

This is how the Early Bird EA traded GBPJPY in the last three days.

@Xaron, please confirm.

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No guts, no glory
And here is the Early Bird EA for you to test.

Attached Image


Attached File(s)
File Type: ex4 Early_Bird_01.ex4   20 KB | 374 downloads
No guts, no glory
Quoting Xaron
I use 2 Pips + Spread.
Just out of curiosity why don't you trade g/u with it? Good thread and thanks to abokwaik for the ea.
I think I have a good system but don't know how to code.
Trend line Trader - The Trend Is Your Friend...
Quoting Soyo24
I think I have a good system but don't know how to code.
If your system has nothing to do with Xarons System - plz dont start here any discussion about your System !!
Quoting abokwaik
And here is the Early Bird EA for you to test. {image} {file}
Thanks abokwaik
Quoting Xaron
Next candle started. Trailing the stop above the highest high of the last two candles... {image}
The first EA version posted was actually trailing by last candle.

This one trails by last 2 candles as per Xaron rules.

Attached File(s)
File Type: ex4 Early_Bird_01.1.ex4   20 KB | 346 downloads


The EA can run on any time frame, just make sure you set the start time correctly.
All trades/pending orders will get closed at the close hour/minute
No guts, no glory
@abokwaik: Looks good! Should be correct. And thanks for the EA! Will check it out asap.

I think there is still a lot of potential for optimization. Especially for the trailing and/or the position sizing.
Quoting claudia1
{quote} Just out of curiosity why don't you trade g/u with it? Good thread and thanks to abokwaik for the ea.
Will work as well. I just do not want to trade too many pairs. EUR/USD and GBP/JPY are not that big correlated like EUR/USD and GBP/USD. That's the only reason.
Orders are set. Pretty tiny bars...
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GBP/JPY stop sell filled. Added the sell limit at 50%:
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...same for EUR/USD:
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EUR/USD sell limit filled...
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EUR/USD stopped out. Now let's see if this is one of these stupid cases where my stop got hit but the pair runs after that into the right direction.
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GBP/JPY reached it's target. Removed pending orders.
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Quoting Xaron
EUR/USD stopped out. Now let's see if this is one of these stupid cases where my stop got hit but the pair runs after that into the right direction. {image} GBP/JPY reached it's target. Removed pending orders. {image}
Isn't a candle of say, less then 15pips a bit too risky for this? EU was only 8.7 on my chart.
  • Post #56
  • Quote
  • Edited 5:35am Feb 22, 2016 4:36am | Edited 5:35am
hello everyone and thanks Xaron and Abowaik for your support

i agree too that small candles could sometimes trigger ''random'' trades but i think that a possible solution to this problem could be to use the double or triple of the ATR applyed to the close of the signal candle

i also noticed that the ''recovery'' trade on those candle activate too quickly cause it is too close to first trade and that could be another source of overexposure that could be limited by activating ''recovery'' trades only when the price has gone further our way ( could be also ATR based )

last thing, trailing stop based on pips or atr i guess its more profitable than candle trailing so we are sure we don't lose a lot of pips in a big retracement candle

good job again by the way! this looks interesting
Quoting Go5
{quote} Isn't a candle of say, less then 15pips a bit too risky for this? EU was only 8.7 on my chart.
Might be. But IF this breaks out and works in my direction this can lead to huge gains. You never know...
Quoting Xaron
{quote} Might be. But IF this breaks out and works in my direction this can lead to huge gains. You never know...
Totally agree with that, it's just a tiny SL of 7 pip and even 3.5 for the limit order; maybe skip the limit one for small candles...
GBP/JPY remaining position stopped out and look at that EUR/USD. DAMNIT!

Ok, we have that special case now that the EUR/USD has reached its short target, so we will remove all remaining stop buy orders in that pair now. See ya tomorrow!
Quoting Xaron
GBP/JPY remaining position stopped out and look at that EUR/USD. DAMNIT! Ok, we have that special case now that the EUR/USD has reached its short target, so we will remove all remaining stop buy orders in that pair now. See ya tomorrow!
good work sir. Thank You
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