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Simple Monday-Tuesday System (attached calculator)

  • #1,521
  • Mar 19, 2020 2:45pm Mar 19, 2020 2:45pm
Quoting Erebus
{quote} I wonder if the Stop Loss was 50% of Entry (instead of Low) to the High, in this example Let’s see, that would be... Anyone good with maths? Rough guess, about 7.5% above the current 50%, so about right where you say, let me work on it with Fibonacci
I was using 50% of the range for SL......so it would be 65% from entry.
  • #1,522
  • Mar 19, 2020 2:50pm Mar 19, 2020 2:50pm
Quoting bojack34
{quote} I'm glad you posted this picture Erebus. Look at where price went after it hit the TP2.....it went back up to our SL almost to the pip. I seen this too many times during my visual backtest so I think that instead of using a 50% SL we can use a 55% SL to avoid times like these.
That works in this case, the TP’s have to be moved out as well to keep the ratio

But I’d rather take the 2 to 1, most will exit on retracement like this

No guarantee that price will go back down for even more profit

So the question is, does the extra stop loss benefit in this case? NO

Only the EA testing guys can give a better picture of long term outcomes

Always a delicate balance to achieve the correct balance between RISK and REWARD

Cheers

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  • #1,523
  • Edited 3:06pm Mar 19, 2020 2:51pm | Edited 3:06pm
Quoting Erebus
{quote} I wonder if the Stop Loss was 50% of Entry (instead of Low) to the High, in this example Let’s see, that would be... Anyone good with maths? Rough guess, about 7.5% above the current 50%, so about right where you say, let me work on it with Fibonacci
I also seen a good number of times where price would barely reach our 1:1 target or just barely short. So maybe adjusting our TP target to a little shy of 1:1. So adjusting both the SL and the TP slightly. Both in a direction that would decrease our R:R. I know that's not what you would normally do but it might help the strike rate enough to make it worth it overall. Only visually backtesting with good notes and forward testing will tell us.
  • #1,524
  • Mar 19, 2020 2:58pm Mar 19, 2020 2:58pm
Quoting Erebus
{quote} That works in this case, the TP’s have to be moved out as well to keep the ratio But I’d rather take the 2 to 1, most will exit on retracement like this No guarantee that price will go back down for even more profit Only the EA testing guys can give a better picture of long term outcomes Always a delicate balance to achieve the correct balance between RISK and REWARD Cheers {image}
Damn, sorry I didn't keep better notes when I did all that viusal backtesting. oh well, maybe someone else will out do me and come up with much better and in depth stats. Just to remind everyone, we're not looking for "averages". We are looking at "frequency distribution" (a mathematical function showing the number of instances in which a variable takes each of its possible values.) For example it would be nice to know how many TP's and SL's a pair hit when the range was between 20-30, 30-40, 40-50, etc...We wouldn't be looking for the average range and the average amount of times it hit 1:1, 2:1, 3:1.
  • #1,525
  • Mar 19, 2020 3:24pm Mar 19, 2020 3:24pm
Quoting bojack34
{quote} I also seen a good number of times where price would barely reach our 1:1 target or just barely short. So maybe adjusting our TP target to a little shy of 1:1. So adjusting both the SL and the TP slightly. Both in a direction that would decrease our R:R. I know that's not what you would normally do but it might help the strike rate enough to make it worth it overall. Only visually backtesting with good notes and forward testing will tell us.
Strike rate? Nothing wrong with my strike rate buddy!

I want more members of this thread in the top 10

That’s the strike rate I want to see



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  • #1,526
  • Mar 19, 2020 3:30pm Mar 19, 2020 3:30pm
Lots of interesting statistics in the TE, all the mathematical EA genius should be studying the numbers



Hope I don’t crash this one

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  • #1,527
  • Mar 19, 2020 4:11pm Mar 19, 2020 4:11pm
Hands up, who has learned more about the way PRICE moves in this thread than anything previously?



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  • #1,528
  • Mar 19, 2020 4:25pm Mar 19, 2020 4:25pm
Quoting Erebus
Hands up, who has learned more about the way PRICE moves in this thread than anything previously? {image}
i got my idea of direction from your fib from my group, its great all this. im learning from here, good work
  • #1,529
  • Mar 19, 2020 5:28pm Mar 19, 2020 5:28pm
Quoting dazjw2311
{quote} i got my idea of direction from your fib from my group, its great all this. im learning from here, good work
Great to hear, and you keep your eye on the ball, er, the PRICE

Amazing what you can learn here

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  • #1,530
  • Mar 19, 2020 5:39pm Mar 19, 2020 5:39pm
On a roll

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  • #1,531
  • Mar 19, 2020 7:12pm Mar 19, 2020 7:12pm
Haha some decent memes indeed.

But the problem are not these market conditions ofcourse, it's just the longer term, like you said somewhere yourself. It's really not so productive to discuss how well the system is performing right now is it? Just one look on any chart and you can see godlike trending conditions, honestly in 8 years i've rarely seen such neat curves on charts for so many months, if you cannot make money in these conditions you really ought to take a long hard look at yourself (unless ofcourse your a range trader but all trend followers and breakout people should be raking money like crazy).

The only interesting part is how you'll deal with the inevitable 'other' market conditions, whatever may come next and after that. I think Bojack is trying to figure that out, that's not so bad is it? In fact like I say I think that is almost the only productive thing to discuss here anymore. You got the EA to handle stuff, as long as these market conditions hold you just have to keep it turned on and gaze at your profits, what else is there to do besides investigate the strategy more, see what it's weaknesses might be in the future and how you might negate these weaknesses.
  • #1,532
  • Mar 20, 2020 1:36am Mar 20, 2020 1:36am
The 4th week collect profit from real IC account
Use Dasboard EA to management account, take profit within one day

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  • #1,533
  • Mar 20, 2020 2:50am Mar 20, 2020 2:50am
hi guys, i am assuming this wtf system can be used on the daily charts as i have a day job and cannot be looking at the charts often. would this be a good idea for now to use the daily?
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  • #1,534
  • Mar 20, 2020 2:56am Mar 20, 2020 2:56am
Quoting rere35
hi guys, i am assuming this wtf system can be used on the daily charts as i have a day job and cannot be looking at the charts often. would this be a good idea for now to use the daily?
I haven't touched my charts since Tues. PC has been off most of the time If you read the thread or at least page 1 you will get your answer.
  • #1,535
  • Mar 20, 2020 2:58am Mar 20, 2020 2:58am
Quoting Spikehunter
{quote} I haven't touched my charts since Tues. PC has been off most of the time If you read the thread or at least page 1 you will get your answer.
thank you sir. i will get on and study the first of many pages.
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  • #1,536
  • Mar 20, 2020 3:48am Mar 20, 2020 3:48am
Anyone know how to adjust the column and line sizes so i can see the info properly?

Tried most quick fixes i know but not getting it right, probably something small i am missing
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  • #1,537
  • Mar 20, 2020 4:28am Mar 20, 2020 4:28am
Quoting Fantuz
Anyone know how to adjust the column and line sizes so i can see the info properly? Tried most quick fixes i know but not getting it right, probably something small i am missing {image}
Without amending the source, you can't.

This is most likely caused by you using a non-standard display. MT4 doesn't scale the graphics on charts properly when using a non-standard display - I get the same issue on my Surface Book...completely unreadable
"Pips are vanity. Profit is sanity."
  • #1,538
  • Mar 20, 2020 4:32am Mar 20, 2020 4:32am
Quoting Idne
{quote} Sorry for this question but im farr from my computer to check this. Its posible to do back test with your EA? And check how EA was doing in the past. Sorry for my English
Yes, of course.
"Pips are vanity. Profit is sanity."
  • #1,539
  • Mar 20, 2020 4:41am Mar 20, 2020 4:41am
Quoting rere35
{quote} thank you sir. i will get on and study the first of many pages.
You only need the first page. HiLo MonTues daily candles. Add subtract from HiLo 15% of range (hi-Lo) for breakout. 50% of range SL 100% of range TP. That is about it.
  • #1,540
  • Mar 20, 2020 4:48am Mar 20, 2020 4:48am
Quoting nevie2
Haha some decent memes indeed. But the problem are not these market conditions ofcourse, it's just the longer term, like you said somewhere yourself. It's really not so productive to discuss how well the system is performing right now is it? Just one look on any chart and you can see godlike trending conditions, honestly in 8 years i've rarely seen such neat curves on charts for so many months, if you cannot make money in these conditions you really ought to take a long hard look at yourself (unless ofcourse your a range trader but all trend followers...
Just looking back prices can move in one direction for sometime. This week has been a bit choppy but overall not much different to when money moves from one place to another. As I said many posts ago although its a good strategy I consider it a bit crude. GBPJPY missed the TP by a hair and now posting a loss. These are the trades we need to tighten up on and not let a winner turn into a loss. Looking at a trend to my eyes it doesn't seem to make a lot of difference. Price does seem in general to breakout the way you would expect. Looking forward to closing all trades and doing some hindsight analysis.
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