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Attachments: Currency Grail Scalping System
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Currency Grail Scalping System

Its interesting, thank you for the thread
I think that for the non EA lovers and more manually traders the following indicator could help, what do you think ?
Best
Have a nice w-e
Attached File(s)
File Type: ex4 RangeAboveBelowOpen.ex4   6 KB | 427 downloads

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Quoting rosalieone
Its interesting, thank you for the thread I think that for the non EA lovers and more manually traders the following indicator could help, what do you think ? Best Have a nice w-e {file} {image}
Could you explain how it could help please? I have no idea how I would apply this to this strategy.
"Pips are vanity. Profit is sanity."
Quoting PaulDV
OK, make of this what you will... I hacked @chenxee's EA a bit, and in doing so, made a small mistake with the order submission logic, resulting in the EA submitting a new order every 3 seconds or so! Realising my mistake, I fixed it, but then thought I'd add an option to trade it this way, and called it High Frequency Mode. I've attached the EA for everyone to play around with, but thought I'd show the results. I ran the EA on EURUSD over a 3.5 year period (Jan 2016-Sep 2019) using quality tick data, and got the following: In High Frequency Mode...

I don't understand if people here want to learn how to trade, or just sitting and waiting for money fall from the sky. The direction that the market takes, depends from a lot of factors, and you can't reduce all in a 2 no-sense decontextualized candles Banks have access to market analysts, mathematicians, programmers etc directly from Oxford making entires Teams that study markets and operative strategies together and they didn't still found the holy grail

BUT EHY

Here in forex factory with an EA coded in one night basing on two candles, we all will be profitable! I hope seriously all here are joking

5 pips TP and 135 stop loss, do you know what it means? that you need 30 win in a row for recover ONE single loss.
Quoting MrGreen95
{quote} I don't understand if people here want to learn how to trade, or just sitting and waiting for money fall from the sky. The direction that the market takes, depends from a lot of factors, and you can't reduce all in a 2 no-sense decontextualized candles Banks have access to market analysts, mathematicians, programmers etc directly from Oxford making entires Teams that study markets and operative strategies together and they didn't still found the holy grail BUT EHY Here in forex factory with an EA coded in one night basing on two...
And you're here, why?
"Pips are vanity. Profit is sanity."
Quoting PaulDV
{quote} And you're here, why?
I'm here for let people don't waste money, energy and time in a complete dumb no-sense thing. You are lazy. This is not trading, this is hope to find a short-cut and making money. No shortcut. You have to take the stairs. You think that you are smarter then Oxford analysts and programmers? Keep dreaming bro. Good luck.
Quoting MrGreen95
{quote} I'm here for let people don't waste money, energy and time in a complete dumb no-sense thing. You are lazy. This is not trading, this is hope to find a short-cut and making money. No shortcut. You have to take the stairs. You think that you are smarter then Oxford analysts and programmers? Keep dreaming bro. Good luck.
Bye.
"Pips are vanity. Profit is sanity."
Quoting MrGreen95
{quote} I'm here for let people don't waste money, energy and time in a complete dumb no-sense thing. You are lazy. This is not trading, this is hope to find a short-cut and making money. No shortcut. You have to take the stairs. You think that you are smarter then Oxford analysts and programmers? Keep dreaming bro. Good luck.
Thank you very much for shining your light on this. Don’t trade this system if you don’t like it. We allready stated there is no holy grail. So move on to another thread if you are not willing to build up this system.

The tests look good. I would like others here to share their thoughts and make the idea better. Offcourse 5 pip reward against 135 pip risk is bad. But did you test it? How many times did price not manage to go this 5 pips in our favour? Sure, we need a lot of winning trades to make up for a potential loss but luckily we can have many many trades running at the same time. So for each losing trade there will be many winning ones, according to the tests.

I am willing to try this on a small live account with low spread pairs just to play with it and see how it will do. I love the simplicity of this system. I am always looking for trade systems that don’t require me to sit in front of a screen all day. Maybe I am too dumb and lazy, so be it! I do not need to pay my bills with trading so I gladly test this one.

On topic: I think this system can work because we make use of the momentum of a pullback. Maybe we need to figure out how much longer the second wick needs to be compared to the first wick to have a sure win. If wick is at least xxx pips than buy or sell. Might need a setting in the ea for that.
I believe so I exist
Quoting Cologne
{quote} Thank you very much for shining your light on this. Don’t trade this system if you don’t like it. We allready stated there is no holy grail. So move on to another thread if you are not willing to build up this system. The tests look good. I would like others here to share their thoughts and make the idea better. Offcourse 5 pip reward against 135 pip risk is bad. But did you test it? How many times did price not manage to go this 5 pips in our favour? Sure, we need a lot of winning trades to make up for a potential loss but luckily we can...

I will not read this wall text. We are talking about 2 candles. In the long term you can't profit without analysis, contextualization and proper risk/management. There are many ways to trade rejections/reversal, this is not the right way.

The end.
Quoting MrGreen95
{quote} I will not read this wall text. We are talking about 2 candles. In the long term you can't profit without analysis, contextualization and proper risk/management. There are many ways to trade rejections/reversal, this is not the right way. The end.
Bye!
I believe so I exist
Quoting MrGreen95
{quote} I will not read this wall text. We are talking about 2 candles. In the long term you can't profit without analysis, contextualization and proper risk/management. There are many ways to trade rejections/reversal, this is not the right way. The end.
LOL - ok, now you've gotten that off your chest, I guess there's no need for you to comment further, eh?
"Pips are vanity. Profit is sanity."
Quoting Cologne
{quote} Thank you very much for shining your light on this. Don’t trade this system if you don’t like it. We allready stated there is no holy grail. So move on to another thread if you are not willing to build up this system. The tests look good. I would like others here to share their thoughts and make the idea better. Offcourse 5 pip reward against 135 pip risk is bad. But did you test it? How many times did price not manage to go this 5 pips in our favour? Sure, we need a lot of winning trades to make up for a potential loss but luckily we can...
I'm following your sentiment here. Yes, the R:R is bad, but with a lot of testing and some additional features such as proper money management and trade management, I'm sure we could build this into something viable.

Let me put it this way: I've seen way more complicated systems, requiring lots and lots of indicators, confluence, fundamental analysis and not least of all a good eye and quick reflexes, that don't produce anything like the results that this little system seems to do.

One thing that I haven't seen mentioned is that no-one seems to know who the author of this system is, so taking MrDumb95's comments on board for one moment, who's to say that the author didn't study the markets for years, plotting the confluences of various indicators and points on a chart, and then, one day, simply just happened to notice that when this happened, the two candles before seems to frequently (maybe not always) make a certain pattern? Maybe he then did a little back testing and then some forward testing and, hey presto (ooh! magic!) realise he'd stumbled upon a quirk in the charts... A bit far fetched, I know, but hey, anything's possible, right?
"Pips are vanity. Profit is sanity."
Paul, very good work, excellent.

when i had first glance at this strategy, i feel author expected this for high hit rate, say, 80-90 out of 100 should hit TP target within reasonable time span. maybe he trained himself a lot to visually confirm the pattern effectively, but in EA we have to quantify it. i think it's the key this system would work coz it highly relies on hit rate. if bad thing happens, for example price go totally against you, then it's martingale show time in my another EA i also add hedge if price moves not in my favour to cash in to add up balance to avoid margin call.
Thanks chenxee.

You're right about the quantification aspect - I've tested quite a few variations of the two figures and 3 and 2 appear to be the best. This means that the EA takes far fewer trades than the author would perhaps do manually, but if it improves the accuracy, then that's no bad thing.

One part of the strategy that is still missing is the minimum size of the open/close distance for the two candles. I've added that into the mix and I'm now running some tests to see if it makes any positive difference (it doesn't so far) in combination with different values for the other two main parameters. I'll post up my findings once the testing is finished (several thousand iterations!).
"Pips are vanity. Profit is sanity."
I dont like huge risk/reward idea, u can have 10 consecutive wins but always live in fear, thats gambling not trading. I have seen more crazy tester report but that EA still failed when live trading. And some stupid here already thought about making dashboard =)), dont make me laugh. Some advices from me: smaller sl as author suggest (at highest, lowest of previous candle), adding s/r, round number..., follow trend even author dont suggest that. And in the end, consider this as funny project not a potential holy grail.
Quoting trieuVhh
I dont like huge risk/reward idea, u can have 10 consecutive wins but always live in fear, thats gambling not trading. I have seen more crazy tester report but that EA still failed when live trading. And some stupid here already thought about making dashboard =)), dont make me laugh. Some advices from me: smaller sl as author suggest (at highest, lowest of previous candle), adding s/r, round number..., follow trend even author dont suggest that. And in the end, consider this as funny project not a potential holy grail.
Yeah, I agree.

The author actually says to trade without a stop loss, but that's a huge no-no for me. I've tested using just the additional 5 or so pips the author recommends, and the results are not good. That said, I tried that before adding in the final check that I mentioned above, so I'll be going back to check to see if that makes any difference.

I do have money management, break even, trailing stop, positive lot progression features coded and waiting in the wings, and once I've gotten a grip on the core strategy, I'll start exploring ways to reduce the R:R ratio. I'll probably start with trailing stop, as my paper back testing seems to indicate that the majority of trades would actually go to 10, 20, even 40 pips if allowed.
"Pips are vanity. Profit is sanity."
Quoting PaulDV
{quote} Yeah, I agree. The author actually says to trade without a stop loss, but that's a huge no-no for me. I've tested using just the additional 5 or so pips the author recommends, and the results are not good. That said, I tried that before adding in the final check that I mentioned above, so I'll be going back to check to see if that makes any difference. I do have money management, break even, trailing stop, positive lot progression features coded and waiting in the wings, and once I've gotten a grip on the core strategy, I'll start exploring...
Good idea of trailing stop, was thinking about this as well. Also good idea of The1Student. Hedging for the losses is nice too.
I believe so I exist
Quoting PaulDV
{quote} Yeah, I agree. The author actually says to trade without a stop loss, but that's a huge no-no for me. I've tested using just the additional 5 or so pips the author recommends, and the results are not good. That said, I tried that before adding in the final check that I mentioned above, so I'll be going back to check to see if that makes any difference. I do have money management, break even, trailing stop, positive lot progression features coded and waiting in the wings, and once I've gotten a grip on the core strategy, I'll start exploring...
This is holy grail method or not, i still think this is a great price action setup. Good luck, bro
Thanks for starting the thread and sharing.
Really interesting ideas.
Also, I suggest an easy change to inputs so user can set the Magic Number.

input int magic=88888888; // Magic Number
//int magic=88888888;


All the best,
John
Attached Image
Perfidious Pips
Quoting AltosTrader
{quote} As far as I recall that is an MT4 STP/ECN issue. The platform will not pass SL or TP with the initial order, they have to be placed separately. SL and TP can be taken and placed if NOT ECN.
Thanks for the info. The vendors never mentioned that. The broker I use is an ECN broker. Nothing worse than going to bed and waking up to find that your TP was hit but not triggered. The way I use it now is for risk management and TP/SL levels ... then hit f9 and enter the trade there.

I'm interested in the grail currency strategy because of its' simplicity. I use it in conjunction with other setups like FXCyborg's three candle set-up, pin bars and engulfing candles (one candle set-ups). Trade on the H1 or H4. Trade 2.0 lots and squeezing out 7 or 8 pips instead of going for the 20 or 30 seems to be a doable thing for me. The money adds up pretty quickly too. Couple trades a day at the most and you've got a nice little pile of moolah!
  • Post #100
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  • Edited 10:53am Nov 23, 2019 10:11am | Edited 10:53am
Thank your for share the strategy. It seems really interesting.

I am backtesting it in 4H TMF in several pairs and I think that maybe it is not strictly necessary than the 2nd bar size has to be bigger than the 1st one, even with similar bars seems to work nicely, obviously not with big diffs between the 2 bars (the 2nd much smaller) and always respecting the close/high close/low difference between the bars that I think it is the most important point of the strategy together with HH/HL - LH/LL.
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