Micardo,
Here are the answer.
Strategy Three<o></o
<o
1)Place Buy and Sell orders 20 pips away from London Open – 3 lots each<o
2)3 take profit levels 14, 30 and 80 pips<o
3)Stop Loss is placed at the NY close. Stop for third profit is placed to breakeven when 2 profit is collected<o
4)the above recycles itself through out the day every time the price goes back below or above as it may be the entry price.<o
5)All trades are cancelled at NY Close and reset.<o
<o
Example<o
1)<st1
2)Take profit on lot one at 14 pips - Take Profit on Lot <st2:bcv_smarttag w:st="on">2 at 30</st2:bcv_smarttag> pips – Take Profit on Lot <st2:bcv_smarttag w:st="on">3 at 80</st2:bcv_smarttag> pips<o
3)Stop Loss is placed at the <st1:city w:st="on"><st1
4) 4) If we are entered into a long trade and the market retraces back below 1.8820 and stops us out then a new order is placed again at 1.8820 with the same above parameters. The same is true if we are in a short trade and the market retraces back up and stops us out.<o
5) All orders are cancelled and rest at NY Close
Cheers
3)Stop Loss is placed at the NY close. Stop for third profit is placed to breakeven when 2 profit is collected<?xml:namespace prefix = o /><o
Mistake and is suppose to read:
3)Stop Loss is placed at the LONDON OPEN. Stop for third profit is placed to breakeven when 2 profit is collected.<o
Hi Markj,
Thanks very much for sharing and explaining your strategy (also to everyone else posting and testing strategies!).
I was hoping you could clarify a few points. The first sets of orders at day open seem pretty clear. I have some uncertainty about your reentry rules and a few other questions, if you don't mind...
1) Say your first shorts get stopped out (all 3). After the 2-candle grace period is over, the current price is below your short line from the beginning of the day. Are you entering anyway (possibly with new tp's and s/l) or do you wait for an actual crossing of the short line to occur after the grace period is over?
No price must re-brake the lines. There is only one candle grace period i.e. you can re-enter 2nd candle after stop candle.
2) What if the 14/30 TP's are taken, but the 3rd stops out at breakeven--is the 2-candle reentry block still in effect?
Yes very much so and even more in this situation as a the further the price drops from to close out the more it is inclined to give a false rebound.
3) Are you making decisions only at the close of an hourly candle or are you trading while each candle is painting? Does a candle have to close past one of the decision lines (the +20/-20 lines drawn at start of day) on the hourly chart or do you trigger your buys/sells by the minute?
While candle is painting
4) On the word doc you attached earlier covering 5 days in October, your start lines are marked at 06:00 on your terminal. I matched your candles to mine and it seems to me that 06:00 on your terminal (and mine) are actually GMT+2. That would make the start time of the day in your examples 4 am GMT (with the day's centerline price taken as the close of the candle at 4:59am). Is that how you traded the system during testing or did you make a mistake with the word document?
Yes correct. Orginaly the results of this strategy were put together on a different server with GMT time. Recently a re-connect to different demo server had a europe time not GMT. Recent results have all be corrected. Iiholod actually pointed this out as well. So there is no confusion the two entry points are 20 pips above and below London open.
I hope all of this makes sense. Any additional examples/screenshots you could post would also help to make the rules easier to understand. It's difficult to code an EA without every last little detail pinned down. I don't think I understand completely yet because all of my tests are showing a very negative expectation (except for those last few days in October which were good for your system and for whatever craziness I have coded so far).
