{quote} What? wait a minute, the week is not over yet? You must be easily pleased{image}
But I agree, there is more potential to the downside, especially after making new lows. Some Long Stops might get triggered eventually.
But I agree, there is more potential to the downside, especially after making new lows. Some Long Stops might get triggered eventually.
- #182
- Nov 20, 2017 11:13pm Nov 20, 2017 11:13pm
- Joined Jul 2011 | Status: Gold Again | 10,569 Posts
{quote} Well, the original rules say to close the position after 2 same candles closed in the same direction above / below entry point. So if you want to stick with that, AUDUSD is already gone.
So that candles closes 2 hours after London open, too many people get faked out by Asian session moves, especially on a Monday, never trade them
And then watch for breakout in the direction of main trend, it worked last week but sure to give problems this week
It takes a lot for me to IGNORE you, but you can try.
- #184
- Edited 3:53pm Nov 21, 2017 3:32pm | Edited 3:53pm
I fixed some more issues in the EA. Especially after re-dropping the EA to the chart or restarting MT4 it got a bit confused with closed trades it already took. This shouldn't happen anymore. It will check the Order history on start up now and will see what Trades it already took.
I also changed the way it re-enters after loss. Before it was waiting for the 4H candle to finish after it got stopped out and then placed an Order at the High / Low of that stop out candle. But either the chance was already gone or the Order got rarely triggered and then too late and missed a lot of the momentum, resulting in another loss.
Now it will place an Order at "Stop Orders Distance" + Stop Level points (for instance 4 pips) below / above the current Bid / Ask price.
Also did some more backtestings and collected some statistics. With the statistics I saw that the average trade got closed after approx. 355 Points. So I reduced the default TP from 2000 to 500 Points.
Additionally I experimented with increasing the Risk when re-entering by x2, with some good results on EURUSD and USDJPY.
Some other pairs didn't seem to be suitable for that tho, like GBPUSD, AUDUSD, NZDUSD. While the results were not devastating for the account, the graph was bumpy and the tests still ended pretty much at Break Even on those pairs. Need to experiment more with those.
EURUSD 1st Jan 2015 to 10th Nov 2017.
Risk: 1%
Counter re-entry risk: 2% - 1 re-entry per week
-- Statistics -- 
-- Statistics --
I also changed the way it re-enters after loss. Before it was waiting for the 4H candle to finish after it got stopped out and then placed an Order at the High / Low of that stop out candle. But either the chance was already gone or the Order got rarely triggered and then too late and missed a lot of the momentum, resulting in another loss.
Now it will place an Order at "Stop Orders Distance" + Stop Level points (for instance 4 pips) below / above the current Bid / Ask price.
Also did some more backtestings and collected some statistics. With the statistics I saw that the average trade got closed after approx. 355 Points. So I reduced the default TP from 2000 to 500 Points.
Additionally I experimented with increasing the Risk when re-entering by x2, with some good results on EURUSD and USDJPY.
Some other pairs didn't seem to be suitable for that tho, like GBPUSD, AUDUSD, NZDUSD. While the results were not devastating for the account, the graph was bumpy and the tests still ended pretty much at Break Even on those pairs. Need to experiment more with those.
EURUSD 1st Jan 2015 to 10th Nov 2017.
Risk: 1%
Counter re-entry risk: 2% - 1 re-entry per week
-- Statistics --
- Out of 171 Trades:
- Take Profit (500 Points) hit 39 times
- Stop Loss (1.5 * ATR) hit 59 times
- Position closed (2-candle rule) by EA 73 times
- Absolute average points "duration" per Trade: 365.28
USDJPY 1st Jan 2015 to 10th Nov 2017.
Risk: 1%
Counter re-entry risk: 2% - 1 re-entry per week
-- Statistics --
- Out of 145 Trades:
- Take Profit (500 Points) hit 31 times
- Stop Loss (1.5 * ATR) hit 42 times
- Position closed (2-candle rule) by EA 72 times
- Absolute average points "duration" per Trade: 356.99
- #189
- Edited 8:37am Nov 25, 2017 8:14am | Edited 8:37am
Resulta have nothing to do with an EA.
Please use the rules given in Post #1 and assess the results.
My SL is @ the first H4 -high or low plus 2 pips.
TP as per the rules.
Some trades are LIVE and some are Demo.
I prefer those pairs, that simple!
Why are you worrying about Drawdown? Just set your trade and forget it!
You can review each pair quite easily to analyse performance, human BRAIN is fantastic.
Please use the rules given in Post #1 and assess the results.
My SL is @ the first H4 -high or low plus 2 pips.
TP as per the rules.
Some trades are LIVE and some are Demo.
I prefer those pairs, that simple!
Why are you worrying about Drawdown? Just set your trade and forget it!
You can review each pair quite easily to analyse performance, human BRAIN is fantastic.
- #199
- Nov 25, 2017 10:36am Nov 25, 2017 10:36am
{quote} Thanks for taking time to respond.
If candle 2 is higher than candle 1, buy stop above candle 2, sell stop below candle 1
If candle 2 is lower than candle 1, buy stop above candle 1, sell stop below candle 2
I think this is what coco means. Cmiiw.