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(binned per thread starter’s request) High/Low Breakout: a simple

  • #21
  • Jun 29, 2017 2:04am Jun 29, 2017 2:04am
Quoting marcmarc
{quote} Hi Ivanyo, You are right to want to conduct your own tests otherwise you won't really believe the results if it just comes from someone else; that's exactly why I ran my own tests. Several times my initial tests suggested I had discovered a winning strategy, only to find that when I expanded the time period and/or tried it on other markets, the result disappeared and I was back to a break-even strategy overall. Very frustrating but an excellent learning curve! As for range breakout strategies on a 1:1 risk:reward structure, your above quote...
Thanks for your thoughts - potentially we can add currency strength meter, or a moving average. I would however like to conduct my own tests firsts to confirm your thoughts.
  • #22
  • Edited 9:13pm Jun 29, 2017 5:15am | Edited 9:13pm
Trade #003

Today's entries - as I've mentioned in earlier posts, I will continue to manually test for at least 100 trades before I decide whether or not to add additional indicators/filters to help our method.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1 29-06-17a.PNG Size: 98 KB

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1 29-06-17.PNG Size: 34 KB
  • #23
  • Jun 29, 2017 8:51am Jun 29, 2017 8:51am
Quoting ErollZach
{quote} AUSTRALIA IS THE FIRST COUNTRY/OPEN MARKET OF THE DAY AND I CALL IT AS AUSTRALIAN ZONE SECOND IS JAPAN,KOREA,CHINA,BRITAIN,USA&ETC WHICH MEANS AUSTRALIAN ZONE IS THE MOST IMPORTANT LEADING MARKET OF THE DAY EVEN THOUGH AUSTRALIA HAS A 9 HOURS OPEN MARKET,I JUST TAKE IT FOR 8 HOUR ONLY.AS 24 HOURS DIVIDED BY 3=8 HOURS=9pm gmt --> 5am gmt
You should join this thread with this as the trading premise is almost identical except for TP and SL... https://www.forexfactory.com/showthread.php?p=10033485#post10033485

Actually, most session breakouts operate in this way...
  • #24
  • Jun 29, 2017 9:16am Jun 29, 2017 9:16am
Quoting Ivanyo
{quote} Seems like your system is doing fine as it is based on your TE - welcome aboard! Glad to have you here. Just make sure you are keeping track of your losses and don't let them get too big!
Hello my friend. how are you. Thanks for your kind words and concern about the losses. You are a true gentleman. i purposely make it lose this time for some reasons. this TE is for my existing EA users to evaluate its live performance. not to say much about off topic's things here. i downloaded Nicholishen (https://www.forexfactory.com/nicholishen)'s EA and thanks to him. i run it on demo and see what is the outcome.

attached chart here my breakout EA. winning rate only 50 to 60% and i'm not satisfy.
Attached Image (click to enlarge)
Click to Enlarge Name: atr50[1].png Size: 47 KB
SVT refer to mql5 link
  • #25
  • Jun 29, 2017 9:24am Jun 29, 2017 9:24am
simple and elegant. anyone can help to code this system into an EA. It should be an easy job.
  • #26
  • Jun 29, 2017 1:54pm Jun 29, 2017 1:54pm
Manual test 1-28.6.2017

Easy rules:

1.Trade only one direction.
2.Only one trade per day.
3.Distance between hi/lo no more than 80pips
4.Add breakeven after 50-60% take profit

18 x Trades
11 x Win
4 x Loss
3 x Breakeven

Total : +278 Pips
  • #27
  • Edited 6:57pm Jun 29, 2017 5:41pm | Edited 6:57pm
Quoting Limstylz
{quote} You should join this thread with this as the trading premise is almost identical except for TP and SL... https://www.forexfactory.com/showthread.php?p=10033485#post10033485 Actually, most session breakouts operate in this way...
The difference between that thread and this thread is that they are monitoring 15 minute charts for possibly multiple trades per day. This method one is once a day, 5 minutes looking at the charts, and you're done for the day. I may eventually incorporate Fibonacci given that they would impose a greater than 1:1 ratio on risk-reward but let's give the strategy as it is some time before we make any adjustments.

Quoting SubheadSeven
{quote} Hello my friend. how are you. Thanks for your kind words and concern about the losses. You are a true gentleman. i purposely make it lose this time for some reasons. this TE is for my existing EA users to evaluate its live performance. not to say much about off topic's things here. i downloaded Nicholishen (https://www.forexfactory.com/nicholishen)'s EA and thanks to him. i run it on demo and see what is the outcome. attached chart here my breakout EA. winning rate only 50 to 60% and i'm not satisfy. {image}
Do you mind sharing your results of the EA with the group here?

Quoting Robotron
Manual test 1-28.6.2017 Easy rules: 1.Trade only one direction. 2.Only one trade per day. 3.Distance between hi/lo no more than 80pips 4.Add breakeven after 50-60% take profit 18 x Trades 11 x Win 4 x Loss 3 x Breakeven Total : +278 Pips
Thanks for your contribution - what filters are you using to enter one direction only?
  • #28
  • Jun 30, 2017 2:33am Jun 30, 2017 2:33am
{quote} Thanks for your contribution - what filters are you using to enter one direction only?[/quote]

I dont use filter... i mean if have open position in one direction, example buy dont open sell....only close buy
I look on this situation ... if trade was close on SL (in Jun 4x) only 1 hit TP if open other site trade
Sorry for my english...
  • #29
  • Jun 30, 2017 5:26am Jun 30, 2017 5:26am
Previous day's trade still open and running.

Here are today's trades, entered to expire on Monday. Have a good weekend all!

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1 30-06-17.PNG Size: 43 KB

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Click to Enlarge Name: GBPUSDH1 30-06-17a.PNG Size: 124 KB
  • #30
  • Jun 30, 2017 5:50am Jun 30, 2017 5:50am
What gmt setting do you use?
Risk comes from not knowing what you're doing.
  • #31
  • Jun 30, 2017 9:50am Jun 30, 2017 9:50am
Quoting dragonexpert
What gmt setting do you use?
We use GMT

My broker charts are NY close so they have different times so I used tradingview to reduce confusion.
  • #32
  • Jun 30, 2017 10:05am Jun 30, 2017 10:05am
Quoting Robotron
Manual test 1-28.6.2017 Easy rules: 1.Trade only one direction. 2.Only one trade per day. 3.Distance between hi/lo no more than 80pips 4.Add breakeven after 50-60% take profit 18 x Trades 11 x Win 4 x Loss 3 x Breakeven Total : +278 Pips
Add last 2 days....
29.6.2017 BE
30.6.2017 +41 pips
So..
20xTrades
12xwin
4xloss
4xBE
Complete Jun2017 +319 Pips
  • #33
  • Jun 30, 2017 12:44pm Jun 30, 2017 12:44pm
{quote} Do you mind sharing your results of the EA with the group here?

My bad. all my platforms are running my EA. so is there anyone here have got some live result?
SVT refer to mql5 link
  • #34
  • Jun 30, 2017 1:52pm Jun 30, 2017 1:52pm
Quoting Robotron
Manual test 1-28.6.2017 Easy rules: 1.Trade only one direction. 2.Only one trade per day. 3.Distance between hi/lo no more than 80pips 4.Add breakeven after 50-60% take profit 18 x Trades 11 x Win 4 x Loss 3 x Breakeven Total : +278 Pips
My advice. don't manual test especially breakout strategy. this way you can't get a close realistic result. few things you must take into consideration :- slippage, floating spread and of course news time. breakout always occurred when news data is released. when your trades enter during news time can be a disaster (gap + high slippage + high spread).
SVT refer to mql5 link
  • #35
  • Jul 2, 2017 6:27pm Jul 2, 2017 6:27pm
Hope everyone had a good weekend! Hopefully we get another great week ahead of us.

Quoting SubheadSeven
{quote} My advice. don't manual test especially breakout strategy. this way you can't get a close realistic result. few things you must take into consideration :- slippage, floating spread and of course news time. breakout always occurred when news data is released. when your trades enter during news time can be a disaster (gap + high slippage + high spread).
Great point, which is why I am forward testing this myself manually on a live account trading small positions. I'm still in one of the positions I opened last week but once that has reached SL or TP, I will provide a summary of previous week's results for all to consider.
  • #36
  • Edited 10:05pm Jul 2, 2017 6:55pm | Edited 10:05pm
Quoting Ivanyo
{quote}{quote} That is why we are testing this strategy - we can make adjustments as we see fit but at the moment I would like to conduct my own independent tests for at least 100 trades to see if we need to make changes before taking anybody's word for it. That is how everyone should approach strategies shared in threads and forums - with a grain of salt and with independent judgement before taking anybody's words as gospel. I started this thread to share my discoveries - hope you will join me. For instance, here are the results of 13 week's trading...
The SL rules is only Maximum/Minimum point +/- (2 pips), but I see here are the SL up to -99 pips? Is there any other rules you use for the SL?
  • #37
  • Jul 2, 2017 7:34pm Jul 2, 2017 7:34pm
Quoting andrern2000
{quote} The SL rules is only Maximum/Minimum point +/- (2 pips), but I see here are the SL up to -99 pips? What other rules do you use for the SL?
Hi - must be some confusion. I don't see the issue with that?

If entry point is max +2 pips and stop loss is minimum -2 pips and the range between the two is 95 pips, then your stop will be 99 pips? Why does that matter? You should be adjusting position size based on stop loss so you are risking the same amount each trade as per my initial post - use the website to calculate the position size that allows you to risk the same each time.
  • #38
  • Edited 4:54am Jul 3, 2017 4:43am | Edited 4:54am
Still in my trade from last week, so will keep open & leave it as per post #1.

Here are today's entries also.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1 03-07-17.PNG Size: 25 KB
  • #39
  • Jul 3, 2017 6:46pm Jul 3, 2017 6:46pm
Quoting Ivanyo
Hope everyone had a good weekend! Hopefully we get another great week ahead of us. {quote} Great point, which is why I am forward testing this myself manually on a live account trading small positions. I'm still in one of the positions I opened last week but once that has reached SL or TP, I will provide a summary of previous week's results for all to consider.
Thanks my friend. yes forward testing a must. but i thought you use Nicholishen (https://www.forexfactory.com/showthread.php?p=10032414#post10032414)'s EA to test or this EA not as per your rules?
SVT refer to mql5 link
  • #40
  • Jul 3, 2017 6:47pm Jul 3, 2017 6:47pm
Quoting SubheadSeven
{quote} Thanks my friend. yes forward testing a must. but i thought you use Nicholishen (https://www.forexfactory.com/showthread.php?p=10032414#post10032414)'s EA to test or this EA not as per your rules?
EA is to specification
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