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Simple Monday-Tuesday System (attached calculator)

  • #1,861
  • Apr 1, 2020 11:08am Apr 1, 2020 11:08am
Hi @PaulDV, the latest version of the expert has completely ignored several signals today.
NZD / JPY EUR / JPY CHF / JPY
  • #1,862
  • Apr 1, 2020 11:17am Apr 1, 2020 11:17am
Quoting FrancescoDTM
Hi @PaulDV, the latest version of the expert has completely ignored several signals today. NZD / JPY EUR / JPY CHF / JPY
I'm currently in all of those trades.

NZDJPY entered at 09:34 GMT and has been bouncing aroun entry all day.
EURJPY entered at 10:24 and has hit TP1 and is now trailing the stop.
CHFJPY entered at 12:17 and is half way to TP1.
"Pips are vanity. Profit is sanity."
  • #1,863
  • Apr 1, 2020 11:20am Apr 1, 2020 11:20am
Quoting cescof
{quote} Mybe i don't understand how be and trailing are... Now i'v chagenf my setting but nothing change Sorry and thanks for answer {image}
You have set break even to trigger when 10 pips in profit, and to lock in 5 pips - and it looks like the stop has moved as expected.
You have set trailing stop to follow the previous high/low, but currently price hasn't made a new high for the sto to be moved to.

All looks correct to me.
"Pips are vanity. Profit is sanity."
  • #1,864
  • Apr 1, 2020 12:09pm Apr 1, 2020 12:09pm
Paul,

Thank you once again for an excellent EA. I really appreciate all the time and effort you have put in to help the me and the entire team succeed. It's rare to find generosity in trading Forex.

That goes for the rest of the group who has helped test and give feedback. Thank you.
  • #1,865
  • Apr 1, 2020 12:10pm Apr 1, 2020 12:10pm
Quoting redfan
{quote} There is that many EA's on here with similar names even the owners are getting mixed up, they are looking at queries and finding out it not even their EA, why don't they delete them from the list when there is something wrong with it, As you know I was following your EA work and the last thing I read was you are not doing anything else, as for your last EA I thought you were still working on it, if you are saying it's working which pages is it on,
I wasn't doing anything else and I haven't as I have been ill and also wanted to see what results were like with the fixed settings. It's not good practice to keep changing things until you have a good baseline (2 weeks is not long enough) to measure against.
I'll post the latest one again when I am back at my pc.
  • #1,866
  • Apr 1, 2020 12:17pm Apr 1, 2020 12:17pm
Quoting SwingMan
{quote} Congratulation! Very few come up with this idea. If one uses the bodies, one is very close to the daily Market Profile.
Sorry but I have to disagree. Not sure what you mean by daily market profile though. The high and lows are absolute values, whether true or not, they are what we see on our screens. The bodies ie Open/Close are only a snapshot for probably a few seconds when the day changes. When trading stocks where a market does open and close and traders go home and think there is real value in these numbers. In a continuous process like Forex they are purely transient. The open and close are imo irrelevant.
This is a breakout strategy and using open/close rather than hi/lo means you could more likely be trading into areas of resistance/support rather than breaking into new ground. Not 100% certain but just reducing probability.

Just my way of looking at it. I have been wrong before.
  • #1,867
  • Apr 1, 2020 12:26pm Apr 1, 2020 12:26pm
Quoting PaulDV
{quote} I'm currently in all of those trades. NZDJPY entered at 09:34 GMT and has been bouncing aroun entry all day. EURJPY entered at 10:24 and has hit TP1 and is now trailing the stop. CHFJPY entered at 12:17 and is half way to TP1.
Hi,
Those trades have been activated for me too
  • #1,868
  • Apr 1, 2020 12:37pm Apr 1, 2020 12:37pm
Quoting PaulDV
{quote} I'm currently in all of those trades. NZDJPY entered at 09:34 GMT and has been bouncing aroun entry all day. EURJPY entered at 10:24 and has hit TP1 and is now trailing the stop. CHFJPY entered at 12:17 and is half way to TP1.
Yes... same as me and some loss due spike for Aud pairs because i'm using body candle range for entries...
Thnaks for amazing Ea
Regards
  • #1,869
  • Apr 1, 2020 2:11pm Apr 1, 2020 2:11pm
Quoting Spikehunter
{quote} Sorry but I have to disagree. Not sure what you mean by daily market profile though. The high and lows are absolute values, whether true or not, they are what we see on our screens. The bodies ie Open/Close are only a snapshot for probably a few seconds when the day changes. When trading stocks where a market does open and close and traders go home and think there is real value in these numbers. In a continuous process like Forex they are purely transient. The open and close are imo irrelevant. This is a breakout strategy and using open/close...
Any major open like NY or London could be considered start of the day. Imo London open is probably the most followed open time.
Candle wicks in market profile terms represent excess in the price discovery. The body of the candle is where most trades are executed. In general about 70% of all trades fall in the value area - core of the value area is balance - price will break out of balance and eventually out of value area to search for a new balance (most accepted price).
Does that make a diff for the MoTu system? I don't know - Mentioned this before known energy trader at Intl FC Stone uses the Mon/Tue value area to allocate his trades.
.
  • #1,870
  • Apr 1, 2020 2:23pm Apr 1, 2020 2:23pm
Quoting Shaishen
{quote} Any major open like NY or London could be considered start of the day. Imo London open is probably the most followed open time. Candle wicks in market profile terms represent excess in the price discovery. The body of the candle is where most trades are executed. In general about 70% of all trades fall in the value area - core of the value area is balance - price will break out of balance and eventually out of value area to search for a new balance (most accepted price). Does that make a diff for the MoTu system? I don't know - Mentioned...
Yes I guess London Open NY close would cover the serious activity. Only testing will tell. I did learn a long time ago there is no right or wrong way if it works for [you]. Good luck, stay safe.
  • #1,871
  • Apr 1, 2020 5:36pm Apr 1, 2020 5:36pm
I was really curious how this week was going to play out with this strategy.....with it being NFP week and all. Typically on NFP week it feels like there isn't much movement leading up to NFP Friday. It feels like they are always slower than your average week. For a while now it also doesn't feel as if NFP has the same effect on the market as it used to. I'm curious to see how this week's NFP plays out. You would think with all thats going on and unemployment being as bad as it is, it would be a pretty volatile NFP......I'm just feeling it. We'll see.
  • #1,872
  • Apr 1, 2020 9:14pm Apr 1, 2020 9:14pm
Hi guys, as you know, I'm collecting trades statistics. And after 8 weeks I want say - use only majors pairs.
I did recive PM from Romiros for ask me create myfxbook account for detail analyze past orders. And what we see - it's toppingly if trade only major pairs.

You can also join to analize it, but remember, 1 trade was mistaken - 1 order was 1 lot, not 0.01 (i wrote about it here). You can exclude it in myfxbook custom analizer.
  • #1,873
  • Apr 1, 2020 9:27pm Apr 1, 2020 9:27pm
GBPAUD Closed at stop loss 50% if it was 55% would be still in trade.
  • #1,874
  • Apr 1, 2020 9:33pm Apr 1, 2020 9:33pm
Quoting 0xff
Hi guys, as you know, I'm collecting trades statistics. And after 8 weeks I want say - use only majors pairs. I did recive PM from Romiros for ask me create myfxbook account for detail analyze past orders. And what we see - it's toppingly if trade only major pairs. You can also join to analize it, but remember, 1 trade was mistaken - 1 order was 1 lot, not 0.01 (i wrote about it here)....
Out of the many hours I've spent visually backtesting each pair. I've come to the conclusion that I'm only going to trade the USD and GBP pairs.....thats it. And if I had to really narrow things down I would stick to EURUSD and GBPUSD.
  • #1,875
  • Apr 1, 2020 9:36pm Apr 1, 2020 9:36pm
Quoting Forestralia
GBPAUD Closed at stop loss 50% if it was 55% would be still in trade.
I mentioned the 55% SL before. If the range between Monday and Tuesday happen to make the swing high and swing low and we throw a fib on it, of course there is a chance that price returns to the 50 fib, which in our case is our SL. So why not just extend our SL just a little bit to either 55% or even 60% if you want to play it a little more safe. You can either also extend your TP a little bit to maintain your 1:1 ratio, or just take it as is and settle for a little bit less than 1:1.
  • #1,876
  • Apr 1, 2020 11:34pm Apr 1, 2020 11:34pm
Quoting 0xff
Hi guys, as you know, I'm collecting trades statistics. And after 8 weeks I want say - use only majors pairs. I did recive PM from Romiros for ask me create myfxbook account for detail analyze past orders. And what we see - it's toppingly if trade only major pairs. You can also join to analize it, but remember, 1 trade was mistaken - 1 order was 1 lot, not 0.01 (i wrote about it here)....
By major you mean USD cross?

AUDUSD, EURUSD, GBPUSD, NZDUSD, USDCAD, USDCHF, USDJPY

or some other definition of majors

thanks
It takes a lot for me to IGNORE you, but you can try.
  • #1,877
  • Apr 2, 2020 12:49am Apr 2, 2020 12:49am
Quoting Erebus
{quote} By major you mean USD cross? AUDUSD, EURUSD, GBPUSD, NZDUSD, USDCAD, USDCHF, USDJPY or some other definition of majors thanks
Yes couples with Usd.
Forgive for my English!
  • #1,878
  • Apr 2, 2020 2:39am Apr 2, 2020 2:39am
Quoting PaulDV
{quote} You have set break even to trigger when 10 pips in profit, and to lock in 5 pips - and it looks like the stop has moved as expected. You have set trailing stop to follow the previous high/low, but currently price hasn't made a new high for the sto to be moved to. All looks correct to me.
Hi Paul. I have noticed that in Strategy Tester V1.061 only shows a single trade in back-testing. The settings used are default, and this happens with all majors. Are you experiencing a similar?
  • #1,879
  • Apr 2, 2020 3:01am Apr 2, 2020 3:01am
Quoting Erebus
{quote} By major you mean USD cross? AUDUSD, EURUSD, GBPUSD, NZDUSD, USDCAD, USDCHF, USDJPY or some other definition of majors thanks
Exactly
  • #1,880
  • Apr 2, 2020 3:40am Apr 2, 2020 3:40am
it is not been good week for gbp pairs yet
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