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Weekly system (Set and forget)

  • #141
  • Nov 4, 2017 2:35am Nov 4, 2017 2:35am
Quoting Erebus
{quote} You sir, are showing your ignorance in the basic use of Metatrader 4,...I think you can figure it out thanks PS, a video to get any noobs started, this information has been around for 2 years at least https://youtu.be/M1lD90g9Rjg
Hello Erebus,

I agree with you, however, it will be kind of you if you attach it here as I run MT4 on MAC (using Wine), which does not have the option to download directly from the market. In fact, there is no market tab in MT4 for MAC, unlike the windows version. I don't have access to windows to download it either, and it is not possible to download directly from the website (require the installation of MT4 Win).

Thank you in advance.

Cocolizo67, thanks for sharing the system.
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  • #142
  • Nov 5, 2017 9:33am Nov 5, 2017 9:33am
Results Week Oct 30-Nov 3
Wins -EU, GU, UCHF, UJ, GJ
Losses -AU, NU and EJ
  • #143
  • Nov 11, 2017 11:08am Nov 11, 2017 11:08am
hi earlroy63, any news of this week? thanks
  • #144
  • Nov 13, 2017 9:46pm Nov 13, 2017 9:46pm
Quoting M.Propper
thanks Cocolizo for the strategy thanks Beertje for the EA Here are three trades of cocolizo V3 displayed on H4 {image} {image} {image} {image}
Correct me if I'm wrong, but somehow this doesn't look right?

Image 1:
The entry isn't 2 pips away from Candle 2.
The position didn't close after 2 red Candles

Image 2:
Should have been a Buy order? The next candle after Candle 1 closed Bullish.
Why is the fourth candle Candle 2?
Why is there a Sell position "in the middle of nowhere"?

Image 3:
That Order shouldn't have been triggered, since rules say 2 pips below the High / Low of Candle 2. Should have been triggered way later at the candle with the Up arrow (Candle 8).
  • #145
  • Nov 14, 2017 1:25pm Nov 14, 2017 1:25pm
Since I'm a software developer and curious, I wrote my own EA and did some backtesting.

It is a nice strategy which seems to be very profitable. However, the biggest problem it has with the default entry parameters are sideways markets, which only move at a range of ~100 pips up and down. This means that it happens quite often that your order gets filled, only to go in the opposite direction shortly after this. And if you use a reversal entry, like Cocolizo suggested, it happens exactly the other way around: Your order gets filled and then the market goes the other way.

This is a backtest of EURUSD using a 10.000 USD account, real tick data from 2015 to 2017 and standard settings (fixed lot size, close after 2 same bars in profit, ...) . You can clearly see that the strategy is able to generate profits. But they get burned pretty quick in sideways market.

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I'm doing an Optimization run right now. Thats based on a 1.000 USD account with Risk based entry (Lot size determined by Risk % and SL).

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Will post more results later.

I also have a solution to detect sideways markets. Maybe we can find a solution for what to do in that case. Don't take any trades? Different entry strategy? Different exit strategy?
  • #146
  • Nov 14, 2017 10:25pm Nov 14, 2017 10:25pm
mw108

Interesting post!
  • #147
  • Nov 15, 2017 6:17am Nov 15, 2017 6:17am
Definitely a great week for set & forget

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It takes a lot for me to IGNORE you, but you can try.
  • #148
  • Nov 15, 2017 10:58am Nov 15, 2017 10:58am
Some more results:

  1. EURUSD
  2. Jan 2015 to Nov 2017
  3. Real Tick Data (99.9% quality)
  4. 1000 USD account
  5. Default settings

    1. 1% risk
    2. Close after 2 same bars
    3. No re-entries

Attached Image (click to enlarge)
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  1. EURUSD
  2. Jan 2015 to Nov 2017
  3. Real Tick Data (99.9% quality)
  4. 1000 USD account
  5. Optimized settings

    1. 1% risk
    2. Close after 6 same bars
    3. 1 re-entry per week
    4. Trailing Stop @ 70% of TP
    5. TP: ATR * 1.4
    6. SL: ATR * 1.4
    7. Order Distance: ATR * 0.9 from High / Low
    8. Order Expiration: 2820 Minutes (47 hours)

Attached Image (click to enlarge)
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Settings:
Attached Image


EA is attached. It will expire on 1st Dec 2017.

IMPORTANT: If you backtest, USE REAL TICK DATA. Anything else is unreliable. I'm using the Tick Data Suite from eareview.net

Looking forward feedback.

Attached File(s)
File Type: ex4 WeeklyH4_MP.ex4   44 KB | 360 downloads
  • #149
  • Nov 15, 2017 2:15pm Nov 15, 2017 2:15pm
I did some other backtests on other pairs (AUDUSD, GBPUSD, USDJPY, ...) with the default settings and the optimized settings from EURUSD. And the results are not so good.

I'm doing an Optimization run for AUDUSD right now. Will post results later.

Maybe the EA doesn't work according to the rules. I think it should. Or this system is very vulnerable if conditions or environments change.

I will forward test the EA with the optimized settings from next week on EURUSD on a live account. Will post updates.

What are your experiences using this strategy on different pairs?
  • #150
  • Nov 15, 2017 5:45pm Nov 15, 2017 5:45pm
Which do you prefer to trade, 4 Hour or 1 Hour?



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It takes a lot for me to IGNORE you, but you can try.
  • #151
  • Nov 15, 2017 7:38pm Nov 15, 2017 7:38pm
Quoting Erebus
Which do you prefer to trade, 4 Hour or 1 Hour? {image} {image}
Interesting perspective on the H1.

While the H4 has given a Fakeout Short signal on Su / Mo, the H1 would have worked.

H4
Attached Image


H1
Attached Image


I will modify the EA so that it also runs on H1 and see what the results are.
  • #152
  • Nov 16, 2017 10:03am Nov 16, 2017 10:03am
Quoting mw108
{quote} Correct me if I'm wrong, but somehow this doesn't look right? Image 1: The entry isn't 2 pips away from Candle 2. The position didn't close after 2 red Candles Image 2: Should have been a Buy order? The next candle after Candle 1 closed Bullish. Why is the fourth candle Candle 2? Why is there a Sell position "in the middle of nowhere"? Image 3: That Order shouldn't have been triggered, since rules say 2 pips below the High / Low of Candle 2. Should have been triggered way later at the candle with the Up arrow (Candle 8).
Sorry for the late reply. Yes, you are completely right with your criticism of the trades. I just wanted to be polite and that's why I let the pictures speak. I would have had to write otherwise: the EA is shit and does not do what he should.
  • #153
  • Nov 16, 2017 10:50am Nov 16, 2017 10:50am
Quoting M.Propper
I would have had to write otherwise: the EA is shit and does not do what he should.
  • #154
  • Nov 16, 2017 3:39pm Nov 16, 2017 3:39pm
So far this week Nov 12-16, 2017
Wins -EURUSD, USDCAD, AUDUSD,USDCHF,NZDUSD
Losses - GBPUSD, USDJPY, EURJPY
  • #155
  • Nov 16, 2017 10:36pm Nov 16, 2017 10:36pm
Quoting earlroy63
So far this week Nov 12-16, 2017 Wins -EURUSD, USDCAD, AUDUSD,USDCHF,NZDUSD Losses - GBPUSD, USDJPY, EURJPY
What was your wins and losses in pips?
  • #156
  • Nov 17, 2017 6:17pm Nov 17, 2017 6:17pm
Quoting Erebus
Which do you prefer to trade, 4 Hour or 1 Hour? {image} {image}
I prefer 1hr
Let Market Tell You
  • #157
  • Nov 19, 2017 11:02am Nov 19, 2017 11:02am
Quoting Erebus
{quote} What he means when he starts off Post 1 with " At the start of every week " you look for trade signal entry ONCE PER WEEK And now is the time
Erebus, How are you mate? I was looking at your profile and browse around to this thread, really interesting stuff here. Once per week maybe enough if this system have a very high probability, what do you reckon?
  • #158
  • Nov 19, 2017 11:10am Nov 19, 2017 11:10am
Quoting cocolizo67
Hi guys. At the start of every week (Sunday 9GMT here) wait for the first 4h candle to complete (candle 1). After that look for a 4h candle to close above or below candle 1. The candle that closes above or below candle 1 high/low we call it Candle 2. Buy rules: Place a buy stop order 2 pips above candle 2 high. Sell tules: Place a sell stop order 2 pips below candle 2 low. Risk: 2-5% risk per trade Stop loss: 1.5 times the 4h ATR (14 period) Pair: Eurusd Possible exits: 1) For buy trades, exit after 2 green candles close above entry point. They...
Thank you Coco for sharing this method, I will try to learn more about it.
  • #159
  • Nov 19, 2017 1:00pm Nov 19, 2017 1:00pm
Hi Cocolizo67,
Is is ok if I share end of each week the results of the following pairs?
Attached Image


Roy
  • #160
  • Nov 19, 2017 1:15pm Nov 19, 2017 1:15pm
EURJPY was a initial Loss Sell and a Winner Buy -Week Nov 12-17, see chart below.
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