Weekly system (Set and forget)

Results Nov 12-17, 2017 -minimum losses and minimum wins in pips based on the strategy.

great results whats your settings

I only use only manual trading no EA for me, the strategy is simple enough.

Roy

Hi Coco, I have a question :


From this set up why is the sell stop order is not triggered? The rules say that we open both buy and sell stop 2 pips above and below the Candle 2 correct?

Could you please explain it a bit more?

Thank you Coco.

is your stop loss is 1.5 ATR(14days)?..

why EURJPY got 2 trade? from the setting mr coco said if buy order trigger we need to put SL 1.5ATR and didnt said need to counter trade agian, but your setting is more profiting..thanks for sharing

Oh shoot. I just re-read the coco's first post and figured I completely missunderstood the entry.

He said that he sometimes takes counter trades: https://www.forexfactory.com/showthr...5#post10406545

This is a good question. Would be nice if coco or somebody else could explain. Because from his pictures it doesn't seem like he has 2 pending orders, but just one. But then he also talks about counter trades. It is a tiny bit confusing.

https://www.forexfactory.com/showthr...3#post10349193
https://www.forexfactory.com/showthr...4#post10372194

Sorry for slow reply, computer problems with that FCU Windows update, lost my extra monitors, argh....

Yes, last week was phenomenal for this type of breakout and trend price action; I did a quick run over the 28 pairs

And I came up with conservatively 40 units of profit, so say 1 unit of risk per trade was 0.25% (eg. 1/4 of 1%) the reward would be 10%

As I said, awesome week and not to be expect every week. Sure says a lot for not taking a trade until at least the first hour of London on Monday

Back to computer settings, see ya

Thats the point. The simpler the strategy, the easier you can implement it as an EA.

EAs have the advantage of quickly testing a long period of time to show the strength and weakness of a strategy, given you use high quality tick data with real spreads and can simulate slippage.

A strategy can make money because the market is favorable for it. But then lose it all again in a next period because the market environment has changed.

Don't get me wrong, I really like this strategy. It is obviously able to recover from losses and consistenly make money. But backtesting it with an EA for the last 2 years (EURUSD, 1st Jan 2015 to 10th Nov 2017) using high quality tick data / real spreads / slippage shows some serious weaknesses using the default settings, which may result into 20-30% drawdown and loss of all profits made.

Since I obviously missunderstood the entry rules, I reworked the EA and it should be working according to those rules now. At least from visual backtesting I can tell it looks good.

However, it is still unclear if we place a Buy Stop AND Sell Stop order or if we only put one order in the direction of Candle 2? Some feedback would be nice.

Please find the new version of the EA attached. Looking forward feedback. EA expires 1st Dec 2017.

However, backtesting with the default settings still doesn't look too promising.

EURUSD, 1st Jan 2015 to 10th Nov 2017, Default Settings

Fixed an issue with finding out if we can reenter after a loss.

Trades triggered are SELL- AUDUSD, BUY -USDCHF, NZDUSD, USDJPY and GBPJPY.

Roy

The EA has the following trades triggered and still some pending orders.



However, AUDUSD will most likely be a Sell, yes. But the 4H candle didn't finish yet.

No. You place a sell stop 2 pips below tha candle that closes below candle 1 low. In you picture there is no candle that closed below candle 1 low, so there is no sell stop order to place.

Thanks for taking time to respond.

To be clear: We do only place 1 Stop Order in the direction of C2 above / below its High / Low? If C2 closes above High of C1, we put a Buy Stop and if C2 closes below the Low of C1, we put a Sell Stop?

1. Changed check interval for new orders to 1 hour, was 4 hours before
2. Removed some obsolete options from the settings
3. Added * option for Pairs to trade all Major and Minor Pairs

Manual:

-- EA Settings --

1. Mode
   1. Alert_Only - Only display an Alert, instead of placing an Order
   2. Trade_Only - Only place Orders without Alert
   3. Alert_And_Trade - Both, show an Alert and place an Order

2. Pairs
   1. Symbols to trade, seperated by comma. For instance:
   2. EURUSD, AUDUSD, GOLD
   3. Must be exact. If your Broker has Suffixes or Prefixes, you need to add them. For instance:
   4. EURUSD.m, AUDUSD.m, ...
   5. NOTE:
   6. If you want to trade ALL (major) pairs in the Market Watch, use *
   7. If you use * be aware of Risk, Margin requirements and drawdown tho. You can end up having 20+ positions open.
   8. Uses only Major (AUD, USD, EUR, JPY, ...) and Minor Pairs (NZD, CHF, CAD, ...)
   9. Does not use Exotics (NOK, SEK, HUF, ...)

3. Close after N bars in same direction (0 = Off)
   1. Will close the position after given number of bars in the same direction
   2. For instance a value of 2 will close a Buy Order after 2 Bullish bars closed above the Entry point.
   3. For a Sell Order it will close the position after 2 Bearish bars closed below the Entry point.

4. Number of Reversal entries / week (0 = Off)
   1. After getting stopped out with a Loss, consider re-entering in the opposite direction.
   2. A value > 0 will place an opposite Stop Order above / below the bar that stopped you out, if possible.
   3. A value of 1 will re-enter one time per week. A value of 2 two times, etc.

-- Risk Settings --

1. Lot type
   1. Risk = Lot size will be calculated according to Account Size, Equity and Stop Loss distance.
   2. Fixed = Fixed Lot size will be used.

2. Lot size / Risk %
   1. Using Risk: Percent of risk per Order
   2. Using Fixed: Fixed Lot size

3. Increase Lots / Risk after a loss?
   1. Increase Lot size or Risk after a loss by "Risk Multiplier" value
   2. Not recommended!

4. Max Lots / Max Risk %
   1. Maximum Lot size or Risk % when using Increase Lots / Risk option

5. Risk Multiplier
   1. Multiply Lots / Risk by this value

-- Position Settings --

1. Take Profit in Points
   1. Take Profit in Points - NOT PIPS!

2. Trailing Stop Percent (0 = Off)
   1. Percent of Take Profit when the Trailing Stop will become active
   2. 1.0 = 100%, 0.5 = 50%, etc.
   3. If you have a TP of 1000 Points and Trailing Stop Percent of 0.5, the TS will become active after 500 Points in Profit
   4. If you have a TP of 1000 Points and Trailing Stop Percent of 0.25, the TS will become active after 250 Points in Profit
   5. Etc.

3. SL ATR Multiplicator
   1. Multiplicator for ATR based Stop Loss

-- Order Settings --

1. Order Distance in Points
   1. Distance in Points (NOT PIPS!) of the entry Stop Order above / below C2 High / Low

2. Expiration (min)
   1. Time in minutes after which a Stop Order will expire.
   2. For instance 1440 minutes = 24 hours = 1 day

-- ATR Settings --

1. ATR Period
   1. Period of ATR. Should be 14.

-- Misc Settings --

1. Name of EA
   1. Used in Order Comments. Also to identify the EA's orders.
   2. Should be as short as possible.

-- Backtesting Settings --

1. Pause backtest after placing an Order?
   1. Pauses the EA after an Order was placed.
   2. Only for Debugging reasons.
   3. Requires DLL import.

Trades triggered are SELL- AUDUSD, BUY -USDCHF, NZDUSD, USDJPY and GBPJPY.
Wins -AUDUSD, USDCHF, USDJPY AND GBPJPY

Roy

What? wait a minute, the week is not over yet? You must be easily pleased