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Simple Monday-Tuesday System (attached calculator)

  • #1,741
  • Mar 27, 2020 6:33pm Mar 27, 2020 6:33pm
Quoting 0xff
{quote} 24.03 - 27.03: Max Return Run-Up: 31.4% Max Return Drawdown: -13.4% Max Profit Run-Up: $164 Max Profit Drawdown: -$81
so -13.4% TY sir. If everyone keeps good stats then we can find out how many pairs we can trade to keep our DD% manageable. So for example, you're trading 28 pairs and you have a -13.4% dd. Let's just say for the sake of keeping things simple. -13.4% is your "average" dd for 28 pairs over 6 months or so. Then you can start narrowing down your pairs and cutting back on your average dd%. Eventually find something that works for you. With small live accounts I would be ok with 10% dd for the week. With a big account this would be waaaay too much. So if you plan on trading this strategy for a long time and make lots of money with it, you might want to work on that -13.4% dd. I wouldn't want to be in a -13% dd if i had 50-100K in my account. Thanks for the stats and the reply. GL next week!
  • #1,742
  • Mar 27, 2020 7:18pm Mar 27, 2020 7:18pm
Hello i dont know why my post doesnt show at all.. before each post appears: "Your post is being reviewed.
This post is not yet visible to others. As a Junior Member your posts are hand-moderated as a quality control measure. If approved, this post will be made visible to others and this message will not appear. If this post is denied it will be removed completely."
In my personal opinion, this system works best when the market is volatile, looking at page 1 we immediately see that the creator of this topic has chosen GBP pairs.
  • #1,743
  • Mar 27, 2020 8:28pm Mar 27, 2020 8:28pm
Quoting bojack34
{quote} so -13.4% TY sir. If everyone keeps good stats then we can find out how many pairs we can trade to keep our DD% manageable. So for example, you're trading 28 pairs and you have a -13.4% dd. Let's just say for the sake of keeping things simple. -13.4% is your "average" dd for 28 pairs over 6 months or so. Then you can start narrowing down your pairs and cutting back on your average dd%. Eventually find something that works for you. With small live accounts I would be ok with 10% dd for the week. With a big account this would be waaaay too...
I don't think is 28 pairs, but thanks for the write up
  • #1,744
  • Mar 27, 2020 8:52pm Mar 27, 2020 8:52pm
Quoting Ican2020
{quote} I don't think is 28 pairs, but thanks for the write up
You're right. i went back and counted pairs in his picture. It was 22 pairs.
  • #1,745
  • Mar 28, 2020 12:54am Mar 28, 2020 12:54am
hi paulDV,
i was running your EA this week for 30pairs (incl AUDSGD and USDSGD) on a M30 (not that it matters) with good results, with suggested settings.
week2 with profit on a demo.
next week i will start with "percentage risk" got the message now

but I found again few pairs with 2trades like EURNZD:
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  • #1,746
  • Mar 28, 2020 12:58am Mar 28, 2020 12:58am
Quoting blamshakk
Sorry for the noob question, but what is the preferred timeframe to run the EA on? I've seen H1, H4 and D1 charts on this thread thanks, blam
Question 3 == The time unit of the graph does not matter, the results will be the same from M1 to the Daily.
  • #1,747
  • Mar 28, 2020 2:44am Mar 28, 2020 2:44am
Quoting Oshadiif
hi paulDV, i was running your EA this week for 30pairs (incl AUDSGD and USDSGD) on a M30 (not that it matters) with good results, with suggested settings. week2 with profit on a demo. next week i will start with "percentage risk" got the message now but I found again few pairs with 2trades like EURNZD: {image} {image}
Can you tell me which version you were running? I know this was a bug that I fixed in V1.03, but there may yet be an issue, so I'll take another look.

M30 is good if you are using the trailing stop, otherwise, it shouldn't matter.
"Pips are vanity. Profit is sanity."
  • #1,748
  • Edited 4:14am Mar 28, 2020 3:43am | Edited 4:14am
Quoting PaulDV
{quote} Can you tell me which version you were running? I know this was a bug that I fixed in V1.03, but there may yet be an issue, so I'll take another look. M30 is good if you are using the trailing stop, otherwise, it shouldn't matter.
ahhhh... yes i'm using 1.03

let me check where i missed the newest one... i thought i'm on the newest

great work btw! thanks alot.
  • #1,749
  • Mar 28, 2020 4:19am Mar 28, 2020 4:19am
Quoting 0xff
{quote} 24.03 - 27.03: Max Return Run-Up: 31.4% Max Return Drawdown: -13.4% Max Profit Run-Up: $164 Max Profit Drawdown: -$81
Where do you get these numbers from? From the trade explorer?
  • #1,750
  • Edited Mar 29, 2020 3:46am Mar 28, 2020 6:07am | Edited Mar 29, 2020 3:46am
MoTuBo_EA Version 1.041

Changes:

  1. Fixed divide by zero error in Break Even routine.
  2. Fixed the "UseMinimumLots=false" function (it was being ignored and always used minimum lots).
  3. Corrected the calculation for the end of the Monday-Tuesday range period.
  4. Amended the entry trigger to use Bid price for long entries (this should reduce entries triggering due to widening spreads).
  5. Fixed the MA Trailing Stop from triggering simply when the Stop Loss was in profit (meaning you can now use Break Even and MA Trailing Stop together).
  6. Corrected the TP details displayed in the information panel.
  7. Information panel is now left displayed at the end of a testing session.
  8. A number of small efficiency improvements.

NB: you should use this version in preference to all previous versions.
NBB: there have been no changes in settings - all defaults are as they were.

I've been getting quite a few PMs asking how to do things, and what various settings mean, so I thought I'd answer most of them here.

Money Management
This governs how lot sizes for trades are calculated, and there are three methods:

Attached Image

You select which method you want to use and then set the associated setting(s) (Fixed lots, Lots per 100 of balance or Risk percentage.
For Risk Percentage, you can choose what value to use as the basis of the percentage calculation:
Attached Image


Lots Size Maximum and Minimum
Attached Image

If you set a maximum lot size, and the calculation comes to more, the lot size will be capped at the value you set.
If you set a minimum lot size, and the calculation comes to less, the lot size will be increased to the value you set.
HOWEVER: if "Trade if less than minimum?" is set to false, and the cacluated lot size is lower than the minimum set, the EA will NOT enter the trade, as it is deemed too risky.

Break Even
Attached Image

There are three settings:

  1. No break even: basically, don't use the break even.
  2. Pips profit: moves stop to break even (i.e. the entry price) when the price is in profit by the specified number of pips.
  3. Factor of Stop Loss: moves the stop to break even when the price is in profit by a factor of the Stop Loss. e.g. If the stop loss is 150 pips and the factor is set to 0.5, when the price gets to 75 pips in proft (150 x 0.5), the stop loss will be moved to break even.

Break Even Pips is the number of pips to use for method 1.
Pips to lock in on break even: when moving the stop to break even, you can specify a number of pips of profit to lock in.

Trailing Stop

Attached Image

There are four settings:

  1. No trailing stop.
  2. Regular trailing stop: triggered when the price is in profit by the Regular trailing stop start, and is moved in steps set in the Regular trailing stop step setting.
  3. Follow MA: the trailing stop is triggered when the price is in profit by the factor of the stop loss specified (e.g. if the stop loss is 150 pips and the factor is set to 0.75, the trailing stop is triggered when the price reaches 112 pips (150 x 0.75). The stop is then trailed along the line of a moving average with the period specified.
  4. Previous high/low: the trailing stop is moved when the previous three candles form a new low or high.


As ever, let me know if you find anything untoward.

Attached File(s)
File Type: ex4 MoTuBo_EA.ex4   146 KB | 431 downloads
"Pips are vanity. Profit is sanity."
  • #1,751
  • Mar 28, 2020 6:36am Mar 28, 2020 6:36am
version 1.03 works for me! new version doesnt!
  • #1,752
  • Mar 28, 2020 6:39am Mar 28, 2020 6:39am
Quoting fforexer
version 1.03 works for me! new version doesnt!
Can you explain what you mean when you say it doesn't work?
"Pips are vanity. Profit is sanity."
  • #1,753
  • Mar 28, 2020 6:48am Mar 28, 2020 6:48am
i run them. but new version does not show any information
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  • #1,754
  • Edited 7:23am Mar 28, 2020 6:52am | Edited 7:23am
Awesome work, @PaulDV!

I have one comment/question regarding the bid/ask price amendment: To my understanding, the BUY and SELL orders simply should always use the BID price for triggering the trade to prevent that spread widening triggers the stoploss for sell orders or the long entries. Reason is that only the ASK price widens in low volatility times.

Do you agree and is it programmed in this way?
  • #1,755
  • Mar 28, 2020 8:34am Mar 28, 2020 8:34am
Quoting dazjw2311
Guys take a look at my thread, ive used your monday tuesday method and fib to make my trading better. I aint put rules in there properly yet but hopefully you may understand. Erebus understands as he messaged me saying my method is close to this. I used his fib on monday tuesday range and gave me clarification on real direction for the week. When you put the fib on monday tuesday range. ( high to low ) if its been dropping slowly and pulls back , it will likely hit the 50% level and then drop. Good trade or if its ranging and you see no lows or...
i also agree with your method,because a weekly candle gives 3-4 trades per week,so if mon tues is plotted,we can wait on wednesday or thursday to take the trade and if PA doesnt break Hi or Lo and it is ranging,then we can apply the fib rule to take the trade from 50%-78% to join the trend,weekly pivots can be very beneficial for more confirmation.
  • #1,756
  • Mar 28, 2020 8:46am Mar 28, 2020 8:46am
Please don't clutter this thread with ideas that have nothing to do with this system. We are not considering traditional fibs or any pivots. Thank you.
  • #1,757
  • Mar 28, 2020 11:01am Mar 28, 2020 11:01am
Quoting transmat
{quote} Question 3 == The time unit of the graph does not matter, the results will be the same from M1 to the Daily.
Hi transmat
I have a question or a puzzle,
first of all, Are you still going off the high and low of Monday Tuesday,
waiting for the break on Wednesday, this
If so see pictures, I put a BLUE line on the high and low on Monday and Tuesday,
when I place your indicator on top of the chart the box is bigger than the high and low of Monday Tuesday.
I don't this on 10 charts and only one of them was the box correct,
can you have a look into this and tell me whether it's correct or whether it is wrong,
Blue lines represent high and low Monday Tuesday
thank you
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  • #1,758
  • Mar 28, 2020 11:54am Mar 28, 2020 11:54am
Quoting Olarion1975
Awesome work, @PaulDV! I have one comment/question regarding the bid/ask price amendment: To my understanding, the BUY and SELL orders simply should always use the BID price for triggering the trade to prevent that spread widening triggers the stoploss for sell orders or the long entries. Reason is that only the ASK price widens in low volatility times. Do you agree and is it programmed in this way?
Thanks.

The previous version was using Ask for length entries and Bid for short entries. I have switched them fir this version.

For long, I use the Bid price so that widening spreads (usually the Ask price( doesn't trigger an entry too early.

For short, I use the Ask price for the same reason.

These only affect the entry. Once a trade is open, normal rules apply regarding the hitting of the stop loss.
"Pips are vanity. Profit is sanity."
  • #1,759
  • Edited 12:24pm Mar 28, 2020 12:06pm | Edited 12:24pm
Quoting PaulDV
{quote} Thanks. The previous version was using Ask for length entries and Bid for short entries. I have switched them fir this version. For long, I use the Bid price so that widening spreads (usually the Ask price( doesn't trigger an entry too early. For short, I use the Ask price for the same reason. These only affect the entry. Once a trade is open, normal rules apply regarding the hitting of the stop loss.
Ok, I understand your reasons. For longs you are correct, but short trades will not trigger earlier when spreads are widening (actually they would trigger later if using the ask price). For shorts the bid price will not change. The only things can happen are:
1. "Normal Entry" short trade by bid price --> the ask price will be closer to the SL than without spread widening, but that's no problem
2. "Your EA version" short trade by ask price --> entry is much lower as it normally would (because ask price is at entry level and bid price way below)

So I would suggest to use the bid price for short entries and bid price for longs, too.
  • #1,760
  • Mar 28, 2020 1:03pm Mar 28, 2020 1:03pm
Quoting PaulDV
{quote} Thanks. The previous version was using Ask for length entries and Bid for short entries. I have switched them fir this version. For long, I use the Bid price so that widening spreads (usually the Ask price( doesn't trigger an entry too early. For short, I use the Ask price for the same reason. These only affect the entry. Once a trade is open, normal rules apply regarding the hitting of the stop loss.
Brilliant!

Thank you.
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