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Simple Monday-Tuesday System (attached calculator)

  • #921
  • Mar 7, 2020 2:22am Mar 7, 2020 2:22am
Quoting 0xff
Another good week is over. +849 pips closed. Now need to wait for the next Wednesday
Your entry is on 10 or 25%?
Anything above the line is an uptrend, below the line is a downtrend.
  • #922
  • Mar 7, 2020 2:37am Mar 7, 2020 2:37am
Quoting ckerdmon
For my 2nd week result, Winner = 7 EC GU UJ Uchf EU NU CJ Loss = 5 EA GJ Gchf Echf AN Even = AC It's still get profit. But I missed Gbpcad! So pity. and I set entry : < 1.25 for some pairs please recommend how I choose which pair that i should trade. Or set buy stop/sell stop for all pairs.
I set pending orders for all 28 pairs, and treat them as a basket, but some are being more focused - it all comes down to your personal risk profile really,
&quot;Pips are vanity. Profit is sanity.&quot;
  • #923
  • Edited 3:42am Mar 7, 2020 2:57am | Edited 3:42am
Total PnL A$168.46 or 191 pips accross 9 pairs that triggered. I avoided CHF pairs but want to understand why other members here triggered so many more trades and pips. My entry was set at 15% and 50% TP although at times I adjusted to a sensible weekly pivot.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 56 KB
MWTF Return This Week: na
  • #924
  • Mar 7, 2020 3:02am Mar 7, 2020 3:02am
Quoting Degolep
{quote} Your entry is on 10 or 25%?
25%
I upload screenshot with all pending orders at every wednesday. Lastest is here.
  • #925
  • Mar 7, 2020 3:36am Mar 7, 2020 3:36am
Quoting PaulDV
{quote} I set pending orders for all 28 pairs, and treat them as a basket, but some are being more focused - it all comes down to your personal risk profile really,
Basket is not the right description IMHO

Usually a basket is opening all trades at the same time

Maybe more like a portfolio if your TP is open

But for me, better to trade individually, say 1 pair might open Wednesday and hits take profit, could be going back down when other trades are activated on Thursday or Friday

Know what I mean?

MAY THE TREND BE WITH YOU
  • #926
  • Mar 7, 2020 3:42am Mar 7, 2020 3:42am
Could be really interesting have a kind of dashboard with a Pin for this system filter... Many dash are ready and free but entry criterial (Pin) is to develop....
Dashboard could be useful for basket trading in terms of Tp Sl and to drive trades in to major profit...
  • #927
  • Mar 7, 2020 3:48am Mar 7, 2020 3:48am
Quoting cescof
Could be really interesting have a kind of dashboard with a Pin for this system filter... Many dash are ready and free but entry criterial (Pin) is to develop.... Dashboard could be useful for basket trading in terms of Tp Sl and to drive trades in to major profit...
Tell us more, or show us how

How to determine the optimum position size ; is it the same for every pair?

Good luck
MAY THE TREND BE WITH YOU
  • #928
  • Mar 7, 2020 3:51am Mar 7, 2020 3:51am
Quoting Ojogbolabi
{quote} Great work brother. This is what I got when I applied the EA on UCAD. The TPs are different from the rules.{image} Can you check again pls?
TP was set at 100 just to get something on the chart.
When using a PC to set up trades rather than a tablet it's easier to move SL & TP to where you really want them. On screen drag and drop, especially the latter.

This strategy is based on the price action of Monday and Tuesday, that's fair enough. The MM, to me, is a wet finger in the air, apologies to OP, with no consideration of likely support, resistance when setting SL & tp. To me the exit is the most important part of any strategy and shouldn't be nieve or contrived.
Set the orders and then manage the stops accordingly.

As an example I have a couple of strategies that are intraday. I know that the open plus the daily atr is a good place for TP. A high percent of days price will stick around this value. Not all, some don't reach some go past, but as a rule of thumb for an unmanaged trade it is a good point. This is not nieve or contrived but analysed.

I could go on.
I'm happy to put the defaults into the ea for those that can use it plus other requests but I recommend that are a starting point.

The other area is position sizing which I hope to add shortly.

Trailing stop, at the moment I don't have any view. I don't really like them, I prefer to manage trades from a lower tf.
  • #929
  • Mar 7, 2020 3:52am Mar 7, 2020 3:52am
Quoting BearBu11y
Total PnL A$168.46 or 191 pips accross 9 pairs that triggered. I avoided CHF pairs but want to understand why other members here triggered so many more trades and pips. My entry was set at 15% and 50% TP although at times I adjusted to a sensible weekly pivot. {image}
You need more CAD = AUDCAD , EURCAD , NZDCAD

MAY THE TREND BE WITH YOU
  • #930
  • Mar 7, 2020 3:54am Mar 7, 2020 3:54am
Erebus thanks for the clue to risk same % of portfolio on each trade. Yes yes yes lesson to remember same lot size on diff cc’d pairs does not result in the same risk on each!
MWTF Return This Week: na
  • #931
  • Mar 7, 2020 3:54am Mar 7, 2020 3:54am
Quoting Erebus
{quote} Tell us more, or show us how How to determine the optimum position size ; is it the same for every pair? Good luck
I mean instead of AN Ea for every simple pair, a kind of pin that for every pair is able ti check condition and place orders in a same way as Ea or script di right now.
With dash we could have some effort in control and trade management....
Eax Dashboard in (platform tech) could be best solution in case simeone is able to add this entry criterial
  • #932
  • Mar 7, 2020 3:58am Mar 7, 2020 3:58am
Quoting Erebus
{quote} You need more CAD = AUDCAD , EURCAD , NZDCAD
Indeed, I did not bother with the Cad crosses.
MWTF Return This Week: na
  • #933
  • Mar 7, 2020 3:59am Mar 7, 2020 3:59am
Quoting BearBu11y
Erebus thanks for the clue to risk same % of portfolio on each trade. Yes yes yes lesson to remember same lot size on diff cc’d pairs does not result in the same risk on each!
No problem matey, it’s all in the maths

man, I’m loving this Spotify

this isn’t it, but what I’m listening too



Inserted Video
MAY THE TREND BE WITH YOU
  • #934
  • Mar 7, 2020 6:51am Mar 7, 2020 6:51am
Quoting Erebus
{quote} No problem matey, it’s all in the maths man, I’m loving this Spotify this isn’t it, but what I’m listening too https://youtu.be/UIE4UjBtx-o
Seen them 5 times. Good show.
  • #935
  • Edited 5:04pm Mar 7, 2020 8:35am | Edited 5:04pm
Quoting 4ecstasy
Day of week.mq4
Hi, this is for MT5..

original mq5 is from https://www.mql5.com/en/code/20059 It has more to offer but it makes my MT5 freeze and does not respond if i were to change the indicator properties visualization of timeframes after the indicator is run..

enjoy..

EDIT: this is for MT5 means i upload an indicator for MT5 below.. works the same as the one posted in post #1 for MT4..
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 21 KB
Attached File(s)
File Type: ex5 mod Day_Of_Week_Labels.ex5   21 KB | 229 downloads
File Type: mq5 mod Day_Of_Week_Labels.mq5   10 KB | 242 downloads
  • #936
  • Mar 7, 2020 9:18am Mar 7, 2020 9:18am
Quoting moRTaL
{quote} Hi, this is for MT5.. original mq5 is from https://www.mql5.com/en/code/20059 It has more to offer but it makes my MT5 freeze and does not respond if i were to change the indicator properties visualization of timeframes after the indicator is run.. enjoy.. {file} {file} {image}
If at the end of the program there is a .MQ4 it is because it is for mt4, if it were MQ5 it would be for mt5.
This is the source code of the program, you have to compile it before using it.
This serves to show the days of the week of the candles, put in the daily chart that you will see, for each candle a day of the week.
Read the first posts of the topic that you will understand better, it is very good.
  • #937
  • Mar 7, 2020 10:57am Mar 7, 2020 10:57am
Quoting Erebus
{quote} {quote} Please note what he said - TP is 100 points If and when you understand the Fibonacci Tool, it doesn’t calculate in pips but Percentage Therefore, a 1 to 1 Take Profit of the “range” measured from Entry to 50% stop loss, will be exactly that same number of pips On your chart, the prices - High Entry 1.34593 - Stop Loss 1.33760 = 0.00833 pips (notice, NOT 100 pips) Add that to the High Entry 1.34593 + 0.00833 = 1.35426 which is exactly what is on your chart Another thing for you to check, the accurate placement of the Fibonacci Tool...
Thanks for the explanations.
Do not run to meet the price, let price run to meet you.
  • #938
  • Mar 7, 2020 10:58am Mar 7, 2020 10:58am
Quoting Spikehunter
{quote} TP was set at 100 just to get something on the chart. When using a PC to set up trades rather than a tablet it's easier to move SL & TP to where you really want them. On screen drag and drop, especially the latter. This strategy is based on the price action of Monday and Tuesday, that's fair enough. The MM, to me, is a wet finger in the air, apologies to OP, with no consideration of likely support, resistance when setting SL & tp. To me the exit is the most important part of any strategy and shouldn't be nieve or contrived. Set the orders...
You are doing great work my brother. Keep it up.
Do not run to meet the price, let price run to meet you.
  • #939
  • Mar 7, 2020 11:06am Mar 7, 2020 11:06am
This is my second week of trading this system live. It has been 100% profit. Thank you all.
Do not run to meet the price, let price run to meet you.
  • #940
  • Mar 7, 2020 12:01pm Mar 7, 2020 12:01pm
Quoting Spikehunter
TO ANYONE TRYING MY EA. PLEASE BE AWARE that as this depends on the EA running on Wednesday morning, today it will today be calculating hi/lo based on the last 2 days. At this stage in its development these are the little things that can trip you up. Its why I ask for others to test as I may miss these. So far so good. New version out NOW. {file} I still have some work to do on this plus any other ideas that are suggested.
Reference EA Daily Mon Tues v.1.0. Daylight savings time begins tomorrow. Should I input "1" for summertime? Thanks for your time.
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