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Simple Monday-Tuesday System (attached calculator)

  • #601
  • Feb 29, 2020 4:47pm Feb 29, 2020 4:47pm
Quoting Erebus
All this talk about Scripts, you would think it’s a scalping method, or everyone has FOMO Maybe you’re very busy people, things to do, places to be Here is one of the best trades of last week, opportunity to place order all day Wednesday and Thursday How many made pips? {image}
Hehe yes this was a great one still got it open actually and AJ
  • #602
  • Feb 29, 2020 4:51pm Feb 29, 2020 4:51pm
Quoting liney
Erebus,as you stated in post 585 "But,basically I trade this as a basket method and try to have as many eligible positions open".Thats why some of us want a script,so we can enter trades and then get away from the computer because,yes we are busy and have other things to do.Dont take this the wrong way your opinions are valued here,but we're not lazy,just trying to be more efficient,Cheers
Hey, no problem, it’s not my thread, scripts are great, an EA that traded chosen pairs would be even better...

I just can’t run them and sorry if you got the impression that I’m against them.

Hopefully someone can run the script and report at the end of this week.

its only a 3 day week after all
It takes a lot for me to IGNORE you, but you can try.
  • #603
  • Feb 29, 2020 5:08pm Feb 29, 2020 5:08pm
Quoting PhillipmC
{quote} Hehe yes this was a great one still got it open actually and AJ
Don’t you have a profit target? Must be at 3 or 4 to 1 already

I bet it bounces on Monday and scares you to exit

It takes a lot for me to IGNORE you, but you can try.
  • #604
  • Feb 29, 2020 7:19pm Feb 29, 2020 7:19pm
Quoting Erebus
{quote} Don’t you have a profit target? Must be at 3 or 4 to 1 already I bet it bounces on Monday and scares you to exit
Haha yes it might do.. I've already locked in profit but will monitor it might even hedge it to protect profit margin.. this corona virus has everyone scared plus just read that USA had there first death from it I think we have a couple of cases here on the gold coast as well.. scary stuff really.. anyway I think the Yen will continue in strength for the next weeks at least.. there wasn't great data for China on Saturday as well.. but if not I'll still be on the right side of the market following this stratagy .. it will be interesting to see how much movement we will get after last week tho.. something will move tho and the basket will grab it i bet..
  • #605
  • Feb 29, 2020 9:09pm Feb 29, 2020 9:09pm
Quoting Erebus
{quote} ...an EA that traded chosen pairs would be even better... I just can’t run them
That is a very good idea! I will add that to my EA's desired features list.
Learn from your mistakes and march on.
  • #606
  • Feb 29, 2020 9:14pm Feb 29, 2020 9:14pm
Quoting Ican2020
{quote} This is nice. You did this manually or your have a tool or software that does the ATR stuff. More detailed information will be appreciated
Yes I did this manually and I added up the ATR for the 13 pairs then just divided in half to get my target.
  • #607
  • Feb 29, 2020 9:22pm Feb 29, 2020 9:22pm
Quoting Cosmo
I have been following this thread with interest, on Wednesday start of day I setup my trades based on Monday/Tuesday, Buy at High, Sell at low on 13 pairs, I calculated the ATR for each pair, the total for 13 pair was 850 pips, not wanting to be greedy I only took 400 pips as my target. I ran all 13 pairs as a basket deleting the opposite side as trades were opened, no stop loss was used, 400Pips was achieved on Thursday night Australian time when I took my profit.
what % was this? I don't pay much attention to number of pips. I only pay attention to %'s. Pips are all relative according to account size. %'s to me are like "price". Price is price is price no matter what TF. %'s are %'s are %'s no matter what the account size.
  • #608
  • Feb 29, 2020 9:47pm Feb 29, 2020 9:47pm
Quoting bojack34
{quote} what % was this? I don't pay much attention to number of pips. I only pay attention to %'s. Pips are all relative according to account size. %'s to me are like "price". Price is price is price no matter what TF. %'s are %'s are %'s no matter what the account size.
13 pairs break out
take total daily ATR for all 13 pairs =approx.800pips
take 50% of total =approx. 400pips. as your Target.
whatever % of your capital you use is up to you, I use 3% and this will determine your profit and risk.
  • #609
  • Feb 29, 2020 10:15pm Feb 29, 2020 10:15pm
Quoting Cosmo
{quote} Yes I did this manually and I added up the ATR for the 13 pairs then just divided in half to get my target.
Did you follow along after the target hit? Would be hard to determine the pips I suppose.

There were some mighty moves, and seems to me asking for a 1 average move of the ATR in 3 days is not too much.

Something to think about and test.

Good luck.
It takes a lot for me to IGNORE you, but you can try.
  • #610
  • Mar 1, 2020 12:12am Mar 1, 2020 12:12am
Quoting Erebus
{quote} Did you follow along after the target hit? Would be hard to determine the pips I suppose. There were some mighty moves, and seems to me asking for a 1 average move of the ATR in 3 days is not too much. Something to think about and test. Good luck.
There are two things that drive the market, Fear and Greed, I decided not to be greedy and I’m happy with 400 pips if I can get that every week.
Regards, Cosmo
  • #611
  • Mar 1, 2020 12:15am Mar 1, 2020 12:15am
Quoting Cosmo
{quote} There are two things that drive the market, Fear and Greed, I decided not to be greedy and I’m happy with 400 pips if I can get that every week. Regards, Cosmo
If your account is large enough, you could actually make a modest living from 200 pips a month.

I'm not at that level of capital yet. But I will be. When? I don't know. But I will get there. Patience has its rewards.
Learn from your mistakes and march on.
  • #612
  • Mar 1, 2020 12:30am Mar 1, 2020 12:30am
Quoting Cosmo
{quote} There are two things that drive the market, Fear and Greed, I decided not to be greedy and I’m happy with 400 pips if I can get that every week. Regards, Cosmo
you may be right

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2020-03-01 at 4.27.36 pm.png Size: 1.2 MB
It takes a lot for me to IGNORE you, but you can try.
  • #613
  • Mar 1, 2020 2:13am Mar 1, 2020 2:13am
Are we there yet?

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2020-03-01 at 6.10.39 pm.png Size: 2.7 MB
It takes a lot for me to IGNORE you, but you can try.
  • #614
  • Mar 1, 2020 5:32am Mar 1, 2020 5:32am
Any of the programmers here that can make an indicator for MT5 (not a script), that will:

- show the high/low from monday to thuesday, resetting every monday.
- Show the SL line 50% of the high/low
- show the 1:1, 2:1 and 3:1 ratio lines above and below
- Able to set colors on each line

Regards
  • #615
  • Mar 1, 2020 5:58am Mar 1, 2020 5:58am
Quoting Erebus
{quote} Hey, no problem, it’s not my thread, scripts are great, an EA that traded chosen pairs would be even better... I just can’t run them and sorry if you got the impression that I’m against them. Hopefully someone can run the script and report at the end of this week. its only a 3 day week after all
I used the script last week purely as a convenience. I waited up until gone 10pm UK time (I'm usually asleep by 9pm, and don't get to look at a chart until gone 8am) and ran the script on all 28 pairs before going to bed.

I monitored the trades from my phone when I could while at work, and despite making a few errors with my SL here and there and closing trades earlier than I should have, I still managed to get 998 pips. Lot sizes were fixed at 0 1, but had I used 1% risk on each trade, I would have netted 14.5% profit for the week...bloody good result in my experience!
"Pips are vanity. Profit is sanity."
  • #616
  • Mar 1, 2020 6:00am Mar 1, 2020 6:00am
Quoting tes724
Any of the programmers here that can make an indicator for MT5 (not a script), that will: - show the high/low from monday to thuesday, resetting every monday. - Show the SL line 50% of the high/low - show the 1:1, 2:1 and 3:1 ratio lines above and below - Able to set colors on each line Regards
I'm putting this together for inclusion in my EA, but its MT4 I'm afraid.
"Pips are vanity. Profit is sanity."
  • #617
  • Mar 1, 2020 6:19am Mar 1, 2020 6:19am
Quoting PaulDV
{quote} I'm putting this together for inclusion in my EA, but its MT4 I'm afraid.
No chance to make it work for MT5 too? I just like how good MT5 is running compared to MT4. Epsially the strategy testing part, that uses multi cores and real time data. No need for 3rd party program to get real tick data...
  • #618
  • Mar 1, 2020 6:24am Mar 1, 2020 6:24am
Quoting tes724
{quote} No chance to make it work for MT5 too? I just like how good MT5 is running compared to MT4. Epsially the strategy testing part, that uses multi cores and real time data. No need for 3rd party program to get real tick data...
better yet you could "forward" test this strategy either on Demo or Live. No need for backtesting whether it's on Mt4 or Mt5. Backtesting is ok for functionality of an EA but as far as results are considered, you can toss them out the window.
  • #619
  • Mar 1, 2020 6:31am Mar 1, 2020 6:31am
Quoting PaulDV
{quote} I used the script last week purely as a convenience. I waited up until gone 10pm UK time (I'm usually asleep by 9pm, and don't get to look at a chart until gone 8am) and ran the script on all 28 pairs before going to bed. I monitored the trades from my phone when I could while at work, and despite making a few errors with my SL here and there and closing trades earlier than I should have, I still managed to get 998 pips. Lot sizes were fixed at 0 1, but had I used 1% risk on each trade, I would have netted 14.5% profit for the week...bloody...
That’s awesome results, thanks for sharing, let’s repeat this week

It takes a lot for me to IGNORE you, but you can try.
  • #620
  • Mar 1, 2020 6:41am Mar 1, 2020 6:41am
In my opinion if "you" are going to take this strategy serious (as with any other strategy) you should be keeping notes as you forward test your strategy. With this strategy in particular I would be tracking for example.......range size, date of trigger break, time of break, direction of break, whether or not the trade hit SL or TP, if TP was it 1:1, 2:1 or 3:1, also exact amount of pips of TP regardless of r:r, if trade hit SL how far did price travel in initial direction before reversing, how far did price travel after hitting 2nd trigger. Off the top of my head I can't think of anymore but this would be something to consider if seriously going forward with this strategy. This info would be FAR MORE VALUABLE than any EA or Script.
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