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Simple Daily Trend Reversal Trading System

  • #1,961
  • Jan 3, 2018 8:08am Jan 3, 2018 8:08am
In on 4h GU signal.

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Blessed is the one who takes refuge in Him.
  • #1,962
  • Jan 3, 2018 9:07am Jan 3, 2018 9:07am
Quoting ebeckers
{quote} No you are wrong. The EA will open orders at ANY time, not only at candle closes ! So if you start your EA at 15:24 and there are valid buy/sell signals then it will open orders for them right away. It won't wait for the current candle to close However it uses the previous closed candle(s) to determine if signals is valid. The current candle which is still building and which is still open is not used to determine if we should open a new trade or not.
ok,thank you.you told me earlier that is was only on close,thats why i asked...that would be why its so different from trading it manually.

Is that something that can be corrected in an update ?
  • #1,963
  • Jan 3, 2018 9:31am Jan 3, 2018 9:31am
Quoting nihilist23uk
{quote} ok,thank you.you told me earlier that is was only on close,thats why i asked...that would be why its so different from trading it manually. Is that something that can be corrected in an update ?
i see nothing wrong with this method so why should it be corrected??
  • #1,964
  • Jan 3, 2018 9:51am Jan 3, 2018 9:51am
Quoting nihilist23uk
{quote} ok,thank you.you told me earlier that is was only on close,thats why i asked...that would be why its so different from trading it manually. Is that something that can be corrected in an update ?
@Nihilist ..the EA display signals with no flaws -imho- and if in "auto" mode, trades are taken when all 4 signals align.
In my dash ( as an example) AUDCHF is just waiting mdfx timing indi to turn green ..all others are already tagged..this can occur ANY time.

Cheers.

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  • #1,965
  • Jan 3, 2018 10:33am Jan 3, 2018 10:33am
Quoting ebeckers
{quote} i see nothing wrong with this method so why should it be corrected??
If we program the ea to close out a trade with a trailing stop,why would we want the ea to re enter 25 min later ?
I cant see why we would want to do that,we wouldnt do it manually as it makes no sense,we would just leave the initial trade running.

Maybe ea should then wait for price to cross ma before it considers a new entry in either direction.That way it would be a fresh signal even if its going to be a re-entry following same zigzag,it would be fresh.
What do you think ?
  • #1,966
  • Jan 3, 2018 10:45am Jan 3, 2018 10:45am
Here is a possible improvement for the EA:

If the total profit of open trades reaches x%, then close everything.

Basket trading is an interesting concept that has proven to be profitable for me over the years. This addition to the EA locks in profit and clears all open trades, allowing new ones to open. X could be an adjustable 5% to 10% of balance.
Observation is the path to discovery.
  • #1,967
  • Jan 3, 2018 10:55am Jan 3, 2018 10:55am
Quoting nihilist23uk
{quote} If we program the ea to close out a trade with a trailing stop,why would we want the ea to re enter 25 min later ? I cant see why we would want to do that,we wouldnt do it manually as it makes no sense,we would just leave the initial trade running. Maybe ea should then wait for price to cross ma before it considers a new entry in either direction.That way it would be a fresh signal even if its going to be a re-entry following same zigzag,it would be fresh. What do you think ?
You are not answering my question ? Instead you raise another question ?
1) Why should we (according to you) only open new orders @ candle close. Doesn't make sense to me..
2) And to answer your 2nd question. Thats why we have a setting for this. Just set minsBetween2TradesOnSamePair to the minutes you want and you're done
  • #1,968
  • Jan 3, 2018 10:55am Jan 3, 2018 10:55am
[quote=Alorente;10637420]Here is a possible improvement for the EA: If the total profit of open trades reaches x%, then close everything. Basket trading is an interesting concept that has proven to be profitable for me over the years. This addition to the EA locks in profit and clears all open trades, allowing new ones to open. X could be an adjustable 5% to 10% of balance.[/quote

You can just run an equity ea on another chart that will close all open trades when set equity is reached...Problem is the ea (as it is now) will just reopen the trades.

Ebeckers has done a great job so far . I wish I had his skills to help things along.Very frustrating not being able to program.
  • #1,969
  • Jan 3, 2018 11:06am Jan 3, 2018 11:06am
Quoting nihilist23uk
.Problem is the ea (as it is now) will just reopen the trades....
Again not answering my question, and not reading my answers ?
If you set minsBetween2TradesOnSamePair to lets say 720, then the EA won't reopen trades for the pair for 720 minutes
Now this is the last time i'm telling you this. From now on.. you're on my ignore list
  • #1,970
  • Jan 3, 2018 11:08am Jan 3, 2018 11:08am
Quoting ebeckers
{quote} You are not answering my question ? Instead you raise another question ? 1) Why should we (according to you) only open new orders @ candle close. Doesn't make sense to me.. 2) And to answer your 2nd question. Thats why we have a setting for this. Just set minsBetween2TradesOnSamePair to the minutes you want and you're done
Ok,I see your point about candle close,its just the way its conflicting with the trailing stop.

If we close a trade with trailing stop and we try to use the minutes between trades,surely we could miss a reverse or a re entry signal unless we know how many minutes its going to occur in.

Im just thinking there must be a better way to achieve the goal that all. Thats why I threw the ma idea to you.It Might not be plausibly,it was just an idea.

I was not being disrespectful,sorry if ive upset you,just trying to help things along thats all.
  • #1,971
  • Jan 3, 2018 11:54am Jan 3, 2018 11:54am
Quoting ebeckers
{quote} Again not answering my question, and not reading my answers ? If you set minsBetween2TradesOnSamePair to lets say 720, then the EA won't reopen trades for the pair for 720 minutes Now this is the last time i'm telling you this. From now on.. you're on my ignore list
Time between trades is to abstract and can lead to a reentry at a totally wrong point (see image).

If you do not have an exit on the disappearance of a signal (or part of) or your signals are too slow and the only exit you have is an arbitrary take profit ore lock/trail you should ignore the rest of the initiating signal until it disappears and appears again.
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I can calculate the movement of stars, but not the madness of men. Isaac N.
  • #1,972
  • Jan 3, 2018 12:12pm Jan 3, 2018 12:12pm
Quoting nihilist23uk
{quote} If we program the ea to close out a trade with a trailing stop,why would we want the ea to re enter 25 min later ? I cant see why we would want to do that,we wouldnt do it manually as it makes no sense,we would just leave the initial trade running. Maybe ea should then wait for price to cross ma before it considers a new entry in either direction.That way it would be a fresh signal even if its going to be a re-entry following same zigzag,it would be fresh. What do you think ?
I actually like the idea of reentering if a signal is still valid on the dash. Using the TS settings one of the levels could get hit and the trade closed on a momentary pullback, and then continuing on, and by using the reentry after i.e M15, we can get back in the trade fresh, and have already locked in pips from the previous trade.

If you don't want to reenter then simply set the minsBetween2TradesOnSamePair to whichever time you want to wait for reentry, simple.
Truth is like poetry. And most people f*cking hate poetry.
  • #1,973
  • Jan 3, 2018 12:12pm Jan 3, 2018 12:12pm
Quoting Alorente
Here is a possible improvement for the EA: If the total profit of open trades reaches x%, then close everything. Basket trading is an interesting concept that has proven to be profitable for me over the years. This addition to the EA locks in profit and clears all open trades, allowing new ones to open. X could be an adjustable 5% to 10% of balance.
I like this idea. Will think about it
  • #1,974
  • Jan 3, 2018 12:14pm Jan 3, 2018 12:14pm
Quoting skipper13
for information, these are the open trades and I use the strategy v1 with these settings {image}
Hello Skipper, your "v1 strategy" is an H4 approach. So, according to Mrdfx TE results 75% winners and with only a tinny 5 pips trailing distance your V1 settings
with a big 85 hidden SL , this might turn "v1" into a breakeven BE or a loosing strategy... I suggest you to mod at least your order TS1 to 5 pips if you keep the TS1 trigger @ 20 ..so , it will be a BE and keep a 10/15 pips distance further on. your settings do not allow good trades to "breath" and you might maybe end with 75%
tinny winners but loosing demo money at month end ... your comments welcome . #metoo# (lol) I donīt like green dash turning back red .
Taking into account this 75W/25L ratio , and with 100 closed trades, your settings might hit 75x15 pips = 1,125 green pips and 25 x 85 = 2,115 red pips ...again your comments welcome...
Cheers.

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  • #1,975
  • Jan 3, 2018 12:14pm Jan 3, 2018 12:14pm
Quoting beethoven
wow alorente is this right may be to decrese to 5% it was already happen today, i gave example for december 5 trades gave almost 30% account growth ended up as 3 loses 2 wins= minor loss
10% profit at some point is very achievable with an open basket. After the basket closes, the EA can stop trading for the day. That eliminates the "problem" of the trades reopening, at least till the next day.
Observation is the path to discovery.
  • #1,976
  • Jan 3, 2018 12:18pm Jan 3, 2018 12:18pm
Quoting FxMadness
{quote} Time between trades is to abstract and can lead to a reentry at a totally wrong point (see image). If you do not have an exit on the disappearance of a signal (or part of) or your signals are too slow and the only exit you have is an arbitrary take profit ore lock/trail you should ignore the rest of the initiating signal until it disappears and appears again. {image}
Hey FxMadness thanks for dropping by. Good to see you. I value your input as well if you have any ideas.

I did inbox you about adding FXM-diff to cross check pairs before entering.
Truth is like poetry. And most people f*cking hate poetry.
  • #1,977
  • Jan 3, 2018 12:26pm Jan 3, 2018 12:26pm
Quoting Alorente
{quote} 10% profit at some point is very achievable with an open basket. After the basket closes, the EA can stop trading for the day. That eliminates the "problem" of the trades reopening, at least till the next day.
I've been trading baskets successfully for a while now using strength indicators like FXM-diff, CCFp etc, and its a good approach. The tricky part using it on this strategy is when you set lets say a 10% equity profit limit, and then when it hits 10% the EA will close all the trades for that day, including winners and losers.

With this strategy what could happen is some winners that could be good runners get closed prematurely, so you lose out on making additional profits, and then when the EA has closed all the trades we would have to wait for more new valid trades to come up, which could take days depending on the market conditions.

It is something to explore, but not 100% sure yet on how well it would work with this strategy.
Truth is like poetry. And most people f*cking hate poetry.
  • #1,978
  • Jan 3, 2018 12:32pm Jan 3, 2018 12:32pm
Quoting mrdfx
{quote} I've been trading baskets successfully for a while now using strength indicators like FXM-diff, CCFp etc, and its a good approach. The tricky part using it on this strategy is when you set lets say a 10% equity profit limit, and then when it hits 10% the EA will close all the trades for that day, including winners and losers. With this strategy what could happen is some winners that could be good runners get closed prematurely, so you lose out on making additional profits, and then when the EA has closed all the trades we would have to wait...
If you get 2 baskets to close with 10% profit during the month and nothing else, that equals more than 1100% profit per year compounded. A few years of that and you can live happily forever after... In Forex, sometimes less is more...
Observation is the path to discovery.
  • #1,979
  • Jan 3, 2018 1:04pm Jan 3, 2018 1:04pm
Quoting mrdfx
{quote} I've been trading baskets successfully for a while now using strength indicators like FXM-diff, CCFp etc, and its a good approach. The tricky part using it on this strategy is when you set lets say a 10% equity profit limit, and then when it hits 10% the EA will close all the trades for that day, including winners and losers. With this strategy what could happen is some winners that could be good runners get closed prematurely, so you lose out on making additional profits, and then when the EA has closed all the trades we would have to wait...
Personally would not call this a "basket trading system".

I my eyes basket trading is trading pairs that gave a trading signal at the same time under the same conditions all striving to reach a common goal based on the number of pairs in that basket.

In your case the number of trading pairs in a certain period is unknown so a common goal like 500 pips or 10% could sometime have to be reached by 12 pairs but the other time by only two pairs that period.

If you trade them as individuals but you happen to reach a common goal like 10% and close when does the new period starts again.
Next 4 hour, next day or London open ?
I can calculate the movement of stars, but not the madness of men. Isaac N.
  • #1,980
  • Jan 3, 2018 1:19pm Jan 3, 2018 1:19pm
That about that e/g trade i have shown before that has gone wrong.
It is still open because it did not reach his stoploss yet despite it lost 2 out of the 4 trade indicators, one being the (major) trend direction indicator.

There should have been an option in the EA to close trades on loss of signals or reversing signals or something like that and something other than letting it run to SL because that usually is not good for the results.
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I can calculate the movement of stars, but not the madness of men. Isaac N.
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