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Simple Monday-Tuesday System (attached calculator)

  • #1,341
  • Mar 17, 2020 2:44pm Mar 17, 2020 2:44pm
Quoting PaulDV
MoTuBo_EA Version 1.0 Hi guys, Here's the first version of my EA for this strategy, which I have cued up for all pairs for this week to see how it goes. I've tested with the defaults and all is OK. I can't speak for all of the other options, but I will spend some time testing those in isolation shortly and make any necessary adjustments. By default: Entry is at 15% of range. Stop is at 50% of range. TP is 1 x Stop. Risk is 1% of the account balance per trade. The parameters ought to be fairly self-explanatory, but feel free to ask if you have any...
Thanks for this expert. To use it, do you need a vps or place pending orders?
  • #1,342
  • Mar 17, 2020 2:51pm Mar 17, 2020 2:51pm
Are you ready bois???
  • #1,343
  • Mar 17, 2020 3:19pm Mar 17, 2020 3:19pm
Quoting FrancescoDTM
{quote} Hello and thank you all for sharing this strategy. I am new here and my english is not the best. I apologize for this. I read the topic but I didn't understand a thing. Must there be a particular Monday and Tuesday move to consider before opening pending orders? Thanks
No. Its hi/lo of Mon /Tuesday +- 15 % for breakout. Pending orders at this level.
  • #1,344
  • Mar 17, 2020 3:20pm Mar 17, 2020 3:20pm
Quoting Spikehunter
{quote} Whats happened absolutely no movement in the markets??
EU down 1.6% UJ up 1.7% GU down 1.5% AU down 1.9%... or did I miss the sarcasm not allot of consolidating
  • #1,345
  • Mar 17, 2020 3:24pm Mar 17, 2020 3:24pm
Quoting nevie2
{quote} Some neat analysis right there, wish this forum was full of this, a lot more useful than what is usually posted. Your going to need at least 10 times more data to say anything statistically viable enough to trade on, but imo this is the way to go for sure. Also try to see if you recognise any patterns of where losses or bigger wins come from, by looking at hundreds of trades you often get to a second edge in the system. Quick remark about your earlier statement though: risking 5% on a single position is absolute madness. Both from a risk...
Thank you very much for the compliment. Do you think risking 5% of your account for the week is too much? When I wrote that I was talking about only trading one pair one time per week and risking 5% on that pair.
  • #1,346
  • Mar 17, 2020 3:26pm Mar 17, 2020 3:26pm
Quoting Spikehunter
{quote} No. Its hi/lo of Mon /Tuesday +- 15 % for breakout. Pending orders at this level.
When I load mine it's placing lines at levels that make no sense. I just left it running to see if things work themselves out when the market opens.
  • #1,347
  • Mar 17, 2020 3:27pm Mar 17, 2020 3:27pm
Quoting here2there
{quote} Consolidation.
My terminal must have stopped for some reason. Nothing was moving. Looks OK now.
  • #1,348
  • Mar 17, 2020 3:30pm Mar 17, 2020 3:30pm
Quoting bojack34
{quote} When I load mine it's placing lines at levels that make no sense. I just left it running to see if things work themselves out when the market opens.
It will reset tomorrow., Wednesday. We'll I hope so.
  • #1,349
  • Mar 17, 2020 3:43pm Mar 17, 2020 3:43pm
Quoting Spikehunter
{quote} It will reset tomorrow., Wednesday. We'll I hope so.
the weird thing is that they arent even last weeks levels. They are totally random
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  • #1,350
  • Mar 17, 2020 3:48pm Mar 17, 2020 3:48pm
what will reset or am i being thick?
  • #1,351
  • Mar 17, 2020 3:49pm Mar 17, 2020 3:49pm
Quoting Spikehunter
{quote} My terminal must have stopped for some reason. Nothing was moving. Looks OK now.
hahaha, sucks when that happens, especially when you have an EA running.
Learn from your mistakes and march on.
  • #1,352
  • Mar 17, 2020 3:55pm Mar 17, 2020 3:55pm
Quoting PaulDV
MoTuBo_EA Version 1.0 Hi guys, Here's the first version of my EA for this strategy, which I have cued up for all pairs for this week to see how it goes. I've tested with the defaults and all is OK. I can't speak for all of the other options, but I will spend some time testing those in isolation shortly and make any necessary adjustments. By default: Entry is at 15% of range. Stop is at 50% of range. TP is 1 x Stop. Risk is 1% of the account balance per trade. The parameters ought to be fairly self-explanatory, but feel free to ask if you have any...
Thanks Paul for this excellent EA. I'll try on a demo account.
What is the expiry date?
  • #1,353
  • Mar 17, 2020 4:02pm Mar 17, 2020 4:02pm
Quoting Spikehunter
{quote} It will reset tomorrow., Wednesday. We'll I hope so.
its Wednesday in Russia and everywhere East of there, remember, in Russia, the pairs pick YOU



Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2020-03-18 at 7.00.01 am.png Size: 213 KB
It takes a lot for me to IGNORE you, but you can try.
  • #1,354
  • Mar 17, 2020 4:02pm Mar 17, 2020 4:02pm
Quoting FrancescoDTM
{quote} Thanks for this expert. To use it, do you need a vps or place pending orders?
It uses market orders, so needs to be active all the time.
"Pips are vanity. Profit is sanity."
  • #1,355
  • Mar 17, 2020 4:02pm Mar 17, 2020 4:02pm
Quoting bojack34
{quote} Thank you very much for the compliment. Do you think risking 5% of your account for the week is too much? When I wrote that I was talking about only trading one pair one time per week and risking 5% on that pair.
Yes 5% on 1 pair is a lot, but especially on 1 trade, no matter how good the odds are. Seeing as your results will be (mostly) randomised if you do this for a while it's quite easy to hit a few losers in a row. Also it's very much possible to lose more then your sl on any position, so if this is 5 and there is a sudden move your whole account can easily be blown, if not more then what you deposited.

But why would you want to risk such high amounts anyway, just find the pairs that work best (3-4 is more than enough) and trade those, some diversity at least (in pairs but not really diversified in market conditions seeing as you trade them at the same time). Apart from that it would be completely insane to gain 5% per week and expect this to be consistent. If you would even make 0.5% every week you would be a millionaire in a few years only. Focus on where to find the highest % trades, not on increasing risk unnecessarily.

All the best
  • #1,356
  • Mar 17, 2020 4:03pm Mar 17, 2020 4:03pm
Quoting pedrofx
{quote} Thanks Paul for this excellent EA. I'll try on a demo account. What is the expiry date?
None.
"Pips are vanity. Profit is sanity."
  • #1,357
  • Mar 17, 2020 4:31pm Mar 17, 2020 4:31pm
Quoting dazjw2311
what will reset or am i being thick?
As soon as we get to Wednesday as determined by your broker old lines are deleted and new ones drawn
  • #1,358
  • Mar 17, 2020 4:35pm Mar 17, 2020 4:35pm
Quoting Spikehunter
{quote} As soon as we get to Wednesday as determined by your broker old lines are deleted and new ones drawn

cheers man. im using this fib for mon tuesday in my thread 3 bar fractal as of tomorrow, found out its useful in direction, loving this group
  • #1,359
  • Mar 17, 2020 4:45pm Mar 17, 2020 4:45pm
Quoting nevie2
{quote} Yes 5% on 1 pair is a lot, but especially on 1 trade, no matter how good the odds are. Seeing as your results will be (mostly) randomised if you do this for a while it's quite easy to hit a few losers in a row. Also it's very much possible to lose more then your sl on any position, so if this is 5 and there is a sudden move your whole account can easily be blown, if not more then what you deposited. But why would you want to risk such high amounts anyway, just find the pairs that work best (3-4 is more than enough) and trade those, some...
I agree 5% is a lot for a big account but if you're only trading a $1000 live account 5% isn't that much. If you have a $100,000 account then I would agree with your logic. As far as losing your whole account when you have a SL set at 5% of your account. If your losing your whole account with a 5% SL because of a news event then your going to lose your account no matter what. I'm not arguing btw......just having a discussion and learning as I go. Txs.
  • #1,360
  • Mar 17, 2020 4:57pm Mar 17, 2020 4:57pm
Quoting Erebus
{quote} its Wednesday in Russia and everywhere East of there, remember, in Russia, the pairs pick YOU {image}
Totally irrelevant.
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