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Very simple EA open trade at open of next candle 2 replies

Its better learn wisdom late, than never to learn it at all 8 replies

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Creating a Simple Daily Open Price Strategy EA 1 reply

Attachments: DOS. Daily Open Strategy. Easy To Trade, Simple To Win (EA..soon)
Exit Attachments

DOS. Daily Open Strategy. Easy To Trade, Simple To Win (EA..soon)

Take Profit hit
GBPUSD
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Great strategy, the key is money management.

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My Trade Journal All Time Pips: 1,356
Quoting smilee89
Here is an example of price goes against initial trade's direction. We open 1 trade per new day, if price goes against the direction of previous day's entry, same lot size each entry. Closing all trades as a basket at breakeven + minimal profit. So some entries are in profit and some are losing. {image}
reading.
Take Profit hit
GBPCAD
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I never trade this pair before, but now i think i could trade.

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My Trade Journal All Time Pips: 1,356
Take Profit hit already twice
EURNZD
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Seemingly logical. For every large move that day, the next day (or the next few days) will be in reversal. Just like Bollinger Bands concept.
But what are the odds?
I'm a lazy trader... please don't follow me for no reason...
Quoting radityo.ardi
Seemingly logical. For every large move that day, the next day (or the next few days) will be in reversal. Just like Bollinger Bands concept. But what are the odds?
If you read all the posts you will see that an EA has been programmed and that gives you info on the probabilities
May explain why the strategy works
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Buy low, sell high.
I cant see any EA in the attachments. I have written my own, fairly simple, which a the moment I am testing for different scenarios. Ill upload it next week when I am happy with it if that's ok with everyone especially the OP. It wont be one to use for trading just for analysis.
Quoting Spikehunter
I cant see any EA in the attachments. I have written my own, fairly simple, which a the moment I am testing for different scenarios. Ill upload it next week when I am happy with it if that's ok with everyone especially the OP. It wont be one to use for trading just for analysis.
I remind you: if you want to share EA in this thread don't forget to upload some screenshots of charts of different pairs, that show entries and exits, and other "sophisticated" upgrades to the original post, if any.
Quoting smilee89
{quote} I remind you: if you want to share EA in this thread don't forget to upload some screenshots of charts of different pairs, that show entries and exits, and other "sophisticated" upgrades to the original post, if any.
I'm happy to do that. It will not be particularly sophisticated as I don't have much spare time.
On 21.Oct it was very close call to end up in large DD for EN.

Quoting smilee89
Take Profit hit already twice EURNZD {image}
Quoting Ilvez
On 21.Oct it was very close call to end up in large DD for EN. {quote}
That's the cukoo in the nest. It's the one issue that worries me. Initial testing with a MA trend seems to reduce this fear. Not ready to publish yet, before I get asked to show results.
Quoting Spikehunter
{quote} That's the cukoo in the nest. It's the one issue that worries me. Initial testing with a MA trend seems to reduce this fear. Not ready to publish yet, before I get asked to show results.
Sounds good, or maybe only trade the low volatility currencies.
@smilee89

how to survive for this trade.can you help to show me how to open order in this case. I want to understand. if refer green dash.
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Quoting zer2008
@smilee89 how to survive for this trade.can you help to show me how to open order in this case. I want to understand. if refer green dash. {image}
The green arrow trade on the dotted line would have required 7 or 8 sell positions, in order to close in profit. The two red arrow and green arrow trades to the right were all winners, due to large wicks. A trailing stop would do job nicely, if you don’t want to babysit the trades.
Quoting zer2008
@smilee89 how to survive for this trade.can you help to show me how to open order in this case. I want to understand. if refer green dash. {image}
If you want me to help, send the whole picture.
That means it should include: pair name in top left, time frame in top left, dates in the bottom and price scale on the right hand side.
Quoting ChicagoRob
{quote} The green arrow trade on the dotted line would have required 7 or 8 sell positions, in order to close in profit. The two red arrow and green arrow trades to the right were all winners, due to large wicks. A trailing stop would do job nicely, if you don’t want to babysit the trades.
7 or 8 positions? Are you sure you understand the strategy?
I suggest you read post #1 again and again before you trade it live.
Quoting smilee89
And this is an example of how robust this strategy is according this prototype EA. {image}
this test based on 1 pair?
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