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Simple Monthly System (see attached calculator)

  • #21
  • Feb 14, 2020 8:06pm Feb 14, 2020 8:06pm
Quoting 4ecstasy
{quote} Great question. In my manual backtesting, I opened trades every single time it reached the buy and sell levels. If the first position of the month reached TP, I closed it all. If the first trade hit the SL, the next trade of the same month, I closed half at BE and closed the other half at the close of the month. I haven't manually tested it on EUR pairs.
This is the confusing part so far as am concern.Excuse me if am asking stupid questions.

1. I opened trades every single time it reached the buy and sell levels. i understand that one

2 the first position of the month reached TP, I closed it all. I understand that if we open 2 trades on the same pairs example 0.1 lot each you will close both as it hit target profit right?
3.If the first trade hit the SL, the next trade of the same month, I closed half at BE and closed the other half at the close of the month. Here is the confusing part. This is where i will need explanation please.Am waiting for anyone who understands to give me explanation .I understand the core rules of the strategy now it's left with how to close trades or allow it to run.
  • #22
  • Feb 15, 2020 3:40am Feb 15, 2020 3:40am
Quoting kingpat
{quote} This is the confusing part so far as am concern.Excuse me if am asking stupid questions. 1. I opened trades every single time it reached the buy and sell levels. i understand that one 2 the first position of the month reached TP, I closed it all. I understand that if we open 2 trades on the same pairs example 0.1 lot each you will close both as it hit target profit right? 3.If the first trade hit the SL, the next trade of the same month, I closed half at BE and closed the other half at the close of the month. Here is the confusing part....
If your long trade hit SL and it goes lower an activated sell trade then of this sell trade you close half position and move stop to BE and your target is monthly close
  • #23
  • Feb 15, 2020 12:07pm Feb 15, 2020 12:07pm
Quoting kingpat
{quote} This is the confusing part so far as am concern.Excuse me if am asking stupid questions. 1. I opened trades every single time it reached the buy and sell levels. i understand that one 2 the first position of the month reached TP, I closed it all. I understand that if we open 2 trades on the same pairs example 0.1 lot each you will close both as it hit target profit right? 3.If the first trade hit the SL, the next trade of the same month, I closed half at BE and closed the other half at the close of the month. Here is the confusing part....
1. Actually, to be clear, only open short for example, if price comes back down through, not if it comes back up to that level. see attached.
2. I've been closing half the position at the TP and letting the other half ride until the end of the month. Often it's trending.
3. Say you take the first trade and it hits the SL. I allow for some aggression and when I open a second trade and it hits TP, I'll close half of the position. Say I opened 0.1 lots. I'd close .05 lots and then keep the other 0.05 lots open until the end of the month and close it out. In my manual back testing I randomly chose to close all or chose to close half. Some years and some pairs it's better to close all sometimes not.

Does that make sense?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 10 KB
  • #24
  • Feb 15, 2020 1:52pm Feb 15, 2020 1:52pm
3. Say you take the first trade and it hits the SL. I allow for some aggression and when I open a second trade and it hits TP, I'll close half of the position. Say I opened 0.1 lots

When you trade first and it hits the SL. What is the critical used in the second trade inside the same month.I will need explanation.
IF we open sell trade and it hit SL. What criteria should we use to enter into another trade the same month.You could explain with pictures as you did right now.
I have understood most of your explanation .

Also don't you think using one rule to back test this method will be good.For example if we're closing trade while it hit stop lost we should do so across the years for backtesting. This will give us the fair idea how the strategy performed.Thanks for your explanation
  • #25
  • Feb 16, 2020 6:50am Feb 16, 2020 6:50am
HELLO

thanks for share your system ,
Have you taken into account the risk of Rollover/swap rate?
  • #26
  • Feb 17, 2020 10:04am Feb 17, 2020 10:04am
Quoting kingpat
What criteria should we use to enter into another trade the same month.
I'm sorry, I don't understand anything else you wrote. But this quote, I do. I backtested it always entering another trade even if the previous trade took profit or stopped out. If a short trade stops out and price hits the long entry per the calculator, I entered long.
  • #27
  • Feb 17, 2020 11:46am Feb 17, 2020 11:46am
I modified sangui, EA, slightly, should be good for your backtests.
Attached File(s)
File Type: mq4 Month_System_v1.0.mq4   7 KB | 451 downloads
  • #28
  • Feb 17, 2020 11:56am Feb 17, 2020 11:56am
Quoting 4ecstasy
This system is based on the range of the first two trading days of the month, for a 5 week trading week. Logic: The first two trading days of the month often form the high or the low of the month. This is called "the range" from here on. Find the highest high and the lowest low of the first two days of the month. Entry: Open a buy order at 15% of the high and a short order at 15% break of the low. Take Profit: 100% of the range. Stop loss: 10% below the range for long; 10% above the range for short. Optional: Break Even, close half the position...
thank you for sharing, it's almost the same as the trading system that I used, has almost similar rules. it's just, using good money management. I hope if someone only has a capital of $ 100, lot 0.01. maybe I'll try 1-3 months because it's almost similar to my trading system, so I have no doubt
  • #29
  • Feb 17, 2020 12:21pm Feb 17, 2020 12:21pm
Quoting Drakeras
HELLO thanks for share your system , Have you taken into account the risk of Rollover/swap rate?
your risk is your money management... the system have big target TP and Big SL.
  • #30
  • Feb 17, 2020 9:57pm Feb 17, 2020 9:57pm
Quoting Asw
I modified sangui, EA, slightly, should be good for your backtests. {file}
Thanks Asw!
Some fixes, if you have time.

GBPUSD D1 January 2019
The entry is based on the first two days of the month. However, the EA opened on the second day, 2019.01.03.
February didn't open any trades. It should have opened short and long, based on the system as described in the first post.
May should have opened trades also.

Trades should close at the end of the month.

Can you have a look? Thanks so much!
  • #31
  • Feb 17, 2020 11:19pm Feb 17, 2020 11:19pm
Would it be possible to have just an indicator?
Buy low, sell high.
  • #32
  • Feb 18, 2020 1:10am Feb 18, 2020 1:10am
Quoting 4ecstasy
{quote} Thanks Asw! Some fixes, if you have time. GBPUSD D1 January 2019 The entry is based on the first two days of the month. However, the EA opened on the second day, 2019.01.03. February didn't open any trades. It should have opened short and long, based on the system as described in the first post. May should have opened trades also. Trades should close at the end of the month. Can you have a look? Thanks so much!

However, the EA opened on the second day, 2019.01.03. <== This is the 3rd day, data collected from day 1 and day 2, can only be executed on day 3.

February didn't open any trades. <== This is because the 100 pip range filter is too high and should be reduced.

May should have opened trades also. <== Same as February.

IMO: Range should be based on ADR, 100 pips to GBPUSD, is nothing to GBPNZD or GBPAUD.


EA works flawlessly, on my terminal.

Asw
  • #33
  • Feb 18, 2020 1:25am Feb 18, 2020 1:25am
Quoting Asw
{quote} However, the EA opened on the second day, 2019.01.03. <== This is the 3rd day, data collected from day 1 and day 2, can only be executed on day 3. February didn't open any trades. <== This is because the 100 pip range filter is too high and should be reduced. May should have opened trades also. <== Same as February. IMO: Range should be based on ADR, 100 pips to GBPUSD, is nothing to GBPNZD or GBPAUD. EA works flawlessly, on my terminal. Asw
Agreed!
  • #34
  • Feb 18, 2020 8:18am Feb 18, 2020 8:18am
Quoting Asw
{quote} However, the EA opened on the second day, 2019.01.03. <== This is the 3rd day, data collected from day 1 and day 2, can only be executed on day 3. February didn't open any trades. <== This is because the 100 pip range filter is too high and should be reduced. May should have opened trades also. <== Same as February. IMO: Range should be based on ADR, 100 pips to GBPUSD, is nothing to GBPNZD or GBPAUD. EA works flawlessly, on my terminal. Asw
Hi Asw, thanks for your response. I should have known about the 100 pip limit. I was in a rush.
See the picture attached. On my platform, the EA opens on 2019.01.03 which is the second trading day. 2019.01.02 is the first day and 2019.01.03 is the second day. I figured what the problem is. On mine, it takes into consideration the 2018.12.31, which is a monday. It opens at 1.28494, which tells me it's taking the high of 2018.12.31 into consideration.

Also, trades should close at the end of the month. GBPUSD April 2019 closed in May on my platform.
Also, GBPUSD 2019.07 the open long order didn't close at the end of the month. It's the same with the short order on 2019.12.04. I have the EA not canceling the opposite order.

I agree with the ADR requirement. The only reason I had a 100 pips was it's simplicity. It should be based on ADR, you're right.

The EA doesn't follow exactly how I've backtested it, but it does give a decent picture. (e.g., the option of closing half at the TP, bring SL to BE, letting the other half ride till the end of the month; if the first two trading days of the month don't make 100 pips, wait till there is a large enough range; keep trading long and short, and don't be limited to 1 short and 1 long.)

Thanks again for your help! Much appreciated!
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 18 KB
  • #35
  • Feb 18, 2020 8:22am Feb 18, 2020 8:22am
Also, if the first two days of the month end on a Monday, I will always wait until the Tuesday to calculate the range, which would be the first 3 days of the month.
  • #36
  • Feb 19, 2020 1:43am Feb 19, 2020 1:43am
Quoting 4ecstasy
Also, if the first two days of the month end on a Monday, I will always wait until the Tuesday to calculate the range, which would be the first 3 days of the month.

Hello 4ecstasy,

I've modified a few lines for you, to comply with your entries, for simplicity, the open trades should close on the open of a new Monthly bar.

Hope this helps.

Asw
Attached File(s)
File Type: mq4 Month_System_v1.0_Mod.mq4   9 KB | 522 downloads
  • #37
  • Feb 19, 2020 9:19am Feb 19, 2020 9:19am
Quoting Asw
{quote} Hello 4ecstasy, I've modified a few lines for you, to comply with your entries, for simplicity, the open trades should close on the open of a new Monthly bar. Hope this helps. Asw {file}
Hello Asw!

Thanks so much! It'll be a great assistant to manual backtesting.
  • #38
  • Feb 21, 2020 1:28pm Feb 21, 2020 1:28pm
Thanks for sharing this trading idea... I've read of a similar based on the 1st hour of trading for the day. Can the EA handle a shorter timeframe or is it only daily - for the month?
  • #39
  • Feb 24, 2020 4:31am Feb 24, 2020 4:31am
Hi Asw
I'm new on this interesting thread and
I've backtested your EA on EURUSD from march 2019 and only 2 orders ????
any idea ?
  • #40
  • Feb 24, 2020 5:15am Feb 24, 2020 5:15am
Quoting zoraxfx
Hi Asw I'm new on this interesting thread and I've backtested your EA on EURUSD from march 2019 and only 2 orders ???? any idea ?
No Idea, maybe your data or minimum range setting too high.

Asw
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