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  • #321
  • Jul 11, 2017 8:30pm Jul 11, 2017 8:30pm
For some experiment:
Add EMA 200, 50, 9 to the chart observe the direction on h1-h4 timeframe for direction bias.
Look for price to break in that direction and lets see if we eliminate the false breaks to the opposite side.
The only thing that will be a challenge is if there is a trend change.

Next thing:
Try MACD 12, 26, 9 or any other periods to see if it can help with entry.
RSI 14- above 50 uptrend and below 50 downtrend on h1, h4.

Entry and stoploss:
Entry 10-15 pips just the same
Take profit Minimum should be 50 Pips
Stoploss should be below the last h4 lower fractal for a buy and above the last 4 hour for a sell.


Lets play around these parameters to see if we can pick up some similarities to the long runners.

Cheers.
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  • #322
  • Jul 11, 2017 8:33pm Jul 11, 2017 8:33pm
For my scalping thread...
I need a good coder, no jokers or wanna be's, I did this so far and i need help for perfection...
Attached Image (click to enlarge)
Click to Enlarge Name: Need a good coder no jokers.png Size: 108 KB
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  • #323
  • Jul 12, 2017 1:10am Jul 12, 2017 1:10am
Hi Prince i thought that this indicator maybe usefull here, just trying to share something interesting to the topic
Attached File(s)
File Type: ex4 AutoFibonacci.ex4   16 KB | 309 downloads
  • #324
  • Jul 12, 2017 10:14am Jul 12, 2017 10:14am
Attached Image (click to enlarge)
Click to Enlarge Name: profit loss.jpg Size: 243 KB


So then,
i was entered in to 5 currencies with 7 trades
AUD/USD, USD/CHF USD/JPY GBP/CAD USD/CAD

I would have entered more CAD trades but i had to go to work grrr
The results i got are as followed
All trades won bar USD/JPY where i was stopped out on both buy and sell triggers, these hit my stop loss off 10 pips.
Due to using a demo account i thought id also see how i got on with out setting a solid stop loss and just a trailing stop which all my trades won my trailing stop was 13 pips if my broker allowed it any more than 13 pips i would set to the brokers miniumum which was different from pair to pair id aim for a 13 pip stop though.

Including my Loss and not including commission if i have done the maths correctly from very little lots as you can see i gained 21.23 Profit 26.53 (without commission) which is around 53 pips not too bad especially using small lots.

The JPY let me down using 0.13 of a lot from hitting a solid stop loss on both buy and sell costing 10.01 EUR each way, now do i get rid and just use a trailing its looking that way lets see what tomorrow's news brings.
  • #325
  • Jul 12, 2017 11:10am Jul 12, 2017 11:10am
Quoting tabasc0
Hi Prince i thought that this indicator maybe usefull here, just trying to share something interesting to the topic {file}
Ok WIll take the time this evening to look at it.
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  • #326
  • Jul 12, 2017 11:11am Jul 12, 2017 11:11am
Something looking good.
Attached Image (click to enlarge)
Click to Enlarge Name: Preda EurCad.png Size: 58 KB
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  • #327
  • Jul 12, 2017 11:17am Jul 12, 2017 11:17am
Quoting Neil0163
{image} So then, i was entered in to 5 currencies with 7 trades AUD/USD, USD/CHF USD/JPY GBP/CAD USD/CAD I would have entered more CAD trades but i had to go to work grrr The results i got are as followed All trades won bar USD/JPY where i was stopped out on both buy and sell triggers, these hit my stop loss off 10 pips. Due to using a demo account i thought id also see how i got on with out setting a solid stop loss and just a trailing stop which all my trades won my trailing stop was 13 pips if my broker allowed it any more than 13 pips i would...

This is still good Neil...At least you are seeing the light at the end of the tunnel, i just hope others don't see a train and have hopes standing on the track.
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  • #328
  • Jul 12, 2017 11:33am Jul 12, 2017 11:33am
Some don't believe, yes i do it really...I am just trying still.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Good Day so far....png Size: 112 KB
Click to Enlarge Name: Overall good Day.png Size: 48 KB
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  • #329
  • Jul 12, 2017 12:29pm Jul 12, 2017 12:29pm
i was getting stopped out slightly early despite being in profit, think ill adjust my trailing to 18 pips to give the trade space to breathe, i also found if the news is going to make huge movements such as CAD my broker tends to set a min for my trailing stop GBP/CAD was at 20 pips as min trailing stop, that could be used as a indicator.
  • #330
  • Jul 13, 2017 5:55am Jul 13, 2017 5:55am
Quoting Neil0163
i was getting stopped out slightly early despite being in profit, think ill adjust my trailing to 18 pips to give the trade space to breathe, i also found if the news is going to make huge movements such as CAD my broker tends to set a min for my trailing stop GBP/CAD was at 20 pips as min trailing stop, that could be used as a indicator.
Yes,
I like the fact that you are seeing what works and what does not, only those who try will understand it.
You i hope will see the value in the info.
You are doing well.
R:R "Percentage Focus"
  • #331
  • Edited 7:41am Jul 13, 2017 5:58am | Edited 7:41am
Quoting PrinceJ58
{quote} Yes, I like the fact that you are seeing what works and what does not, only those who try will understand it. You i hope will see the value in the info. You are doing well.
Trial and error!
Ill be trying again today on Demo of course on the USD news just with a trailing stop of 16-18 pips unless dictated by the broker

On silver, gold, and oil what range do we look for with regards to them i understand on the currencies its up to a range of 50 but unsure on the commodoties.
  • #332
  • Jul 13, 2017 12:30pm Jul 13, 2017 12:30pm
Hello Prince58,


could you explain me why some mq4 files seems not to work ?

I have created a brain new chart and the attempted to load all the indicators mentionned of your former thread:

GBP Breakout.mq4 and London_breakout_for_EA does not get into the chart.

Could you be more explicit about the 2 EMA canals you have on this screenshot please ? https://www.forexfactory.com/attachm...1&d=1499875881

The idea is to get into positions when the red curve cross the yellow one ?

To sell at the top of a daily range and buy at the bottom ?

Thanks for your kind precisions.

LS
  • #333
  • Jul 13, 2017 4:24pm Jul 13, 2017 4:24pm
so i made profit today manage to bag 137 euro after a loss of 200 EUR and odd on one trade, i just held the postion on GBP/USD and Silver till it went into decent profit before US close which was quite intense! Despite using a demo account.

The red news from the US didn't break out as much as i wanted it too it was fairly poor, so this made me think well i should be trading the red news but just what red news is the important news which will make movements, sure Central bank rate decisions is one but just what else is there.

Maybe you could clear this up prince????

I still made profit today so all is good but today i think was more down to luck than technique.
  • #334
  • Jul 14, 2017 7:30am Jul 14, 2017 7:30am
Quoting lifespirit
Hello Prince58, could you explain me why some mq4 files seems not to work ? I have created a brain new chart and the attempted to load all the indicators mentionned of your former thread: GBP Breakout.mq4 and London_breakout_for_EA does not get into the chart. Could you be more explicit about the 2 EMA canals you have on this screenshot please ? https://www.forexfactory.com/attachm...1&d=1499875881 The idea is to get into positions when the red curve cross the yellow one ? To sell at the top of a daily range and...
Some of the files are indicators, some are Expert advisors. I am not even sure if all that i have posted here or other threads work, since i was searching for things that look similar to what i wanted in an expert advisor, the closes to the logic is one created by squalou, his authorised breakout system is the closes i see.
Ok well the yellow Ema 12 is used for trailing- when you observe you charts the next time, if you should be in a trade long-which of the ema functions would you use for buy versus sell, look on how close the candle comes to the line and also think about the bid and ask price- spread, will it be the high, close or low? And don't forget why? Now for the red ema 50 it is used for direction and stop-loss placement, these are experimental things.
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  • #335
  • Jul 14, 2017 7:38am Jul 14, 2017 7:38am
Quoting Neil0163
so i made profit today manage to bag 137 euro after a loss of 200 EUR and odd on one trade, i just held the postion on GBP/USD and Silver till it went into decent profit before US close which was quite intense! Despite using a demo account. The red news from the US didn't break out as much as i wanted it too it was fairly poor, so this made me think well i should be trading the red news but just what red news is the important news which will make movements, sure Central bank rate decisions is one but just what else is there. Maybe you could clear...
There is a lot to clear up Neil, i have so many ideas and stuff, trying to think about one at a time...That's kinda hard as they all seem to have wheels.
The red news were identified in a picture in previous post. Such as bank interest rates for all countries, nfp, fed, fomc, President, war, rumours, social happenings-shootings, bombings, baker hughes, and alot more.
I also use myfxbook it gives some more details as for news and investing.com. So i do not depend on one site as sometimes they omit some news items.
Attached Image (click to enlarge)
Click to Enlarge Name: Expectations.png Size: 209 KB
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  • #336
  • Jul 14, 2017 7:50am Jul 14, 2017 7:50am
There it is now the tight breakout on Eurusd...
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  • #337
  • Jul 14, 2017 10:25am Jul 14, 2017 10:25am
Attached Image (click to enlarge)
Click to Enlarge Name: profit loss 2.jpg Size: 360 KB


Another nice win, no stop loss just a trailing of 15 pips used a 15 pip buffer too which i find to be more safe.

This week on my demo account 742 EUR in 3 days.

i found that if the Range is some what straight ie running in a pretty much a straight line the breakout tends to be a whole lot better, if the range is still in 20 pips but is zig-zagging up and down ie the candles are pretty long but remaining within the range it tends to be a fairly poor breakout.
I also found that sometimes in a range, there can be one big candle say on a sell or a buy which obviously effects the range size how ever big candles should be ignored and you shoud plot your own range within the range if a big candle has triggered a false range.
  • #338
  • Jul 14, 2017 10:41am Jul 14, 2017 10:41am
Here is a picture too explain more, we have the range as dictated by the indicator of the sessions, then we have true range which is the range within a range, if we use TRUE range rather than actual range we gain better entires in to our break out, this is why i will only check range 1 hour before news is released as range is usually set in stone. Using a 10-20 pip buffer ( i go 15) with a trailing stop seems to be working for me at the minute. More testing is obviously required which i will do next week.
Attached Image (click to enlarge)
Click to Enlarge Name: true range.jpg Size: 338 KB
  • #339
  • Jul 15, 2017 11:59am Jul 15, 2017 11:59am
Quoting Neil0163
Here is a picture too explain more, we have the range as dictated by the indicator of the sessions, then we have true range which is the range within a range, if we use TRUE range rather than actual range we gain better entires in to our break out, this is why i will only check range 1 hour before news is released as range is usually set in stone. Using a 10-20 pip buffer ( i go 15) with a trailing stop seems to be working for me at the minute. More testing is obviously required which i will do next week. {image}
I am happy you came on board this ship. Your info posted here are things I have been observing as well.
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  • #340
  • Jul 15, 2017 3:07pm Jul 15, 2017 3:07pm
Quoting PrinceJ58
{quote} I am happy you came on board this ship. Your info posted here are things I have been observing as well.
Great minds think alike, i just need to figure out what i can do with regards to stop loss, traling stop works but there is much more profit to be made, however i also think well id rather be stopped out with a little bit of profit than a loss. Im going to start to look for true range from now on though!
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