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

  • #581
  • Dec 5, 2020 4:32pm Dec 5, 2020 4:32pm
Quoting emi00
{quote} as per ur request i add addition option at end of input setting trade same direction = true, if its true trade comes in same candle direction , if false trade in opposite direction as thread author requirement. default is false enjoy {file}
Going with the flow makes more pips on all back tests.
  • #582
  • Edited 2:12am Dec 6, 2020 1:46am | Edited 2:12am
Quoting xiqat
{quote} Going with the flow makes more pips on all back tests.
why dont you back up your statement with your backtest, otherwise its just words.....say GBP/JPY...body up more than 110 pips yesterday, we go short at open today for 25 pip profit.....winning percentage 84% from 2008 till now.....return around 20% per year over this period...
so you would go long TODAY if yesterday`s body was up > 110 pips.......what would your return be for TODAY "going with the flow"???....
  • #583
  • Dec 6, 2020 11:49am Dec 6, 2020 11:49am
With 7 open positions from last week and 6 closed ones, 103 pips in closed profit for the week in total, I'm going for the *cad tonight.
Max DD has been 137pips so far

All are atleast 2,5 times above the 20 day average bodysize:
AUDCAD - 129%
EURCAD - 106%
NZDCAD - 167%
USDCAD - 100%
  • #584
  • Dec 6, 2020 3:46pm Dec 6, 2020 3:46pm
Quoting shadmar
With 7 open positions from last week and 6 closed ones, 103 pips in closed profit for the week in total, I'm going for the *cad tonight. Max DD has been 137pips so far All are atleast 2,5 times above the 20 day average bodysize: AUDCAD - 129% EURCAD - 106% NZDCAD - 167% USDCAD - 100%
Hello shadmar,
I think focus on EURCAD because when the price moves too much in daily timeframes , it is likely to skip a point in low timeframes without pullback And we have to find it, and that point can be our profit target. The target of EURCAD is exactly at that point Because we did not have a pullback.
Good luck!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURCAD1.png Size: 61 KB
Click to Enlarge Name: EURCAD.png Size: 60 KB
Money goes to the one who understands, not the one who rushes
  • #585
  • Dec 7, 2020 1:39am Dec 7, 2020 1:39am
Yes, EURCAD closed in TP already
  • #586
  • Edited 6:44am Dec 11, 2020 1:33am | Edited 6:44am
TP hits this week so far:
EURCAD
AUDCAD
NZDCAD
GBPAUD
AUDJPY
NZDJPY
GBPUSD
GBPNZD
USDCAD
GBPCHF

Avg downs completed in breakeven ~ $1
AUDNZD (3 trades)

Open single trades:
NZDUSD
NZDCHF
GBPCAD
EURGBP
AUDUSD
AUDCHF

Avg down floating still
USDCHF (5)
CHFJPY (7)
AUDNZD (2)
  • #587
  • Dec 11, 2020 2:15am Dec 11, 2020 2:15am
Quoting shadmar
TP hits this week so far: EURCAD AUDCAD NZDCAD GBPAUD AUDJPY NZDJPY GBPUSD GBPNZD Avg downs completed in breakeven ~ $1 AUDNZD (3 trades) Open single trades: USDCAD NZDUSD NZDCHF GBPCAD EURGBP AUDUSD AUDCHF Avg down floating still USDCHF (5) CHFJPY (7) AUDNZD (2)
May I ask what is the max Drawdown you have for the 3 floating trades? 7 trades for a single pair!
  • #588
  • Dec 11, 2020 6:41am Dec 11, 2020 6:41am
Quoting tommydoginti
{quote} May I ask what is the max Drawdown you have for the 3 floating trades? 7 trades for a single pair!
Yes it is currently 369 pips in DD across all the floating ones (not looking too good..) But I want to see how it goes.
  • #589
  • Edited 7:29am Dec 11, 2020 7:11am | Edited 7:29am
Quoting shadmar
{quote} Yes it is currently 369 pips in DD across all the floating ones (not looking too good..) But I want to see how it goes.
My DOS system is statistically optimized and focus on a few pairs only. General suggestion is avoid trending currencies like AUD..

It is off-topic of original DOS as it is supposed to be Daily Open, but I would like to add a bit of hint for you guys if DOS is something you may adapt.

(guide: DOS is traded at day open, which is t=1)
1. Win rate of DOS throughout the day varies. The original DOS is trading at t=1, but win rate is also pretty high in the early hours. One variation of DOS to consider is to trade one pair at different time cycles rather than trading multiple pairs (Showing two pairs here). Different pairs have different "sweetspot hours" due to regional market times.
Attached Image

2. Larger Body to trigger DOS can increase win rate. Of course reduces number of trades. With good risk management one can try small body size
Attached Image

3. Statistics shows that DOS is working better than average in the past quarter. Probably due to increased volatility. Currently may be the better times for DOS until who know when.
Attached Image
  • #590
  • Dec 11, 2020 10:08am Dec 11, 2020 10:08am
I think it depends on the broker.
These days, spreads don't meet the entry requirements at all.
Do you have a good idea?
  • #591
  • Dec 11, 2020 10:55am Dec 11, 2020 10:55am
Quoting narukami
I think it depends on the broker. These days, spreads don't meet the entry requirements at all. Do you have a good idea?
if using EA, set a price and spread gate to avoid open trades during high spread, rather wait for it to drop and at the same time within a small range from the open price, otherwise just skip. Same concept for manual
  • #592
  • Dec 11, 2020 11:21am Dec 11, 2020 11:21am
Quoting tommydoginti
{quote} My DOS system is statistically optimized and focus on a few pairs only. General suggestion is avoid trending currencies like AUD.. It is off-topic of original DOS as it is supposed to be Daily Open, but I would like to add a bit of hint for you guys if DOS is something you may adapt. (guide: DOS is traded at day open, which is t=1) 1. Win rate of DOS throughout the day varies. The original DOS is trading at t=1, but win rate is also pretty high in the early hours. One variation of DOS to consider is to trade one pair at different time cycles...
Hi
Could you please elaborate on point 1, how to trade different pairs at different time cycles with a couple of examples.
Regards
  • #593
  • Dec 11, 2020 1:04pm Dec 11, 2020 1:04pm
CHFJPY (7 trades floating) closed at BE

Attached Image (click to enlarge)
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  • #594
  • Dec 11, 2020 2:47pm Dec 11, 2020 2:47pm
Quoting tommydoginti
{quote} My DOS system is statistically optimized and focus on a few pairs only. General suggestion is avoid trending currencies like AUD.. It is off-topic of original DOS as it is supposed to be Daily Open, but I would like to add a bit of hint for you guys if DOS is something you may adapt. (guide: DOS is traded at day open, which is t=1) 1. Win rate of DOS throughout the day varies. The original DOS is trading at t=1, but win rate is also pretty high in the early hours. One variation of DOS to consider is to trade one pair at different time cycles...
are you not confused with another strategy?.....for example with GBP/NZD we`re looking for 50 pips within 24 hours.....we dont care if those 50 pips come about in the Asian, London or US session.....the earlier the entry, after the spread is back to normal, the better.....as a matter of fact, often you get a retrace from yesterday`s big candle in the Asian session, before the trend continues in the London session........you might just get your 50 pips before London opens
  • #595
  • Edited 6:40pm Dec 11, 2020 6:11pm | Edited 6:40pm
Quoting shadmar
CHFJPY (7 trades floating) closed at BE {image}
should it be 6 trades??? I bet you that 1 more trade is due to automatic trading......no wonder I keep trading manually
  • #596
  • Dec 11, 2020 7:11pm Dec 11, 2020 7:11pm
Quoting yonnie
{quote} are you not confused with another strategy?.....for example with GBP/NZD we`re looking for 50 pips within 24 hours.....we dont care if those 50 pips come about in the Asian, London or US session.....the earlier the entry, after the spread is back to normal, the better.....as a matter of fact, often you get a retrace from yesterday`s big candle in the Asian session, before the trend continues in the London session........you might just get your 50 pips before London opens
probably! But i dunno which one I only followed this thread for this type of strategy. Which one you know of is closer to what I found?

I have adapted time cycle shift quite early due to spread issue, hence studied the statistics of this strategy variation. Often it reveals possibilities that overlap with other strategies.

for example, from my statistics, it shows possibilities in London Breakout steategy works better on a few particular pairs.

i just hope some additional info can help you develop your strategies
  • #597
  • Dec 11, 2020 10:21pm Dec 11, 2020 10:21pm
Quoting howard
{quote} Hi Could you please elaborate on point 1, how to trade different pairs at different time cycles with a couple of examples.
Take example of AUDUSD. I set the Body to 50p and TP at 20p for illustration

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1. You can see the win rate and safe rate (i.e. in green after 24 hours) of the last 120 days varies at different hours. If you want to be safe, then daily open and 3rd hour (Pre-Japan open) will be better (~80% chance safe to close a >BE trade). If you want to win more, than probably 3rd hour or after London open.
So instead of trading multiple pairs, one can consider trading 2 DOS cycles, one at Pre-japan open, one after London open, and treat them as individual strategy. I only trade 2 pairs with DOS, 2 cycles each.

2. The win rate, optimal body/TP is different for each pair. AUDUSD from my point of view, is better to trade breakout/trend following strategies. DOS does not work that great for AUD pairs as mentioned.

DOS is a good concept to start, and exploring variations probably makes it more profitable and less DD. Good luck.
  • #598
  • Dec 11, 2020 11:03pm Dec 11, 2020 11:03pm
Quoting tommydoginti
{quote} probably! But i dunno which one I only followed this thread for this type of strategy. Which one you know of is closer to what I found?
a good one for entry timing is "Follow the candles" and other basket trading systems.........your skills might be better utilised there.....
  • #599
  • Dec 12, 2020 4:50pm Dec 12, 2020 4:50pm
Quoting shadmar
CHFJPY (7 trades floating) closed at BE {image}
Your EA opens trade in a wrong way.
It opens trade even if daily Open is not behind previous entry.
You are going to loose your money.
  • #600
  • Dec 12, 2020 5:02pm Dec 12, 2020 5:02pm
tommydoginti (https://www.forexfactory.com/tommydoginti)
I really like your statistical ideas but you must understand this:
1. You did not show your EA entries on chart, so I am not sure your EA works according the specs.
2. Your results should be based on at least 5 years of history and not last 200 days (~1 year).
3. Your idea to open a new trade more than once a day ("cycles") is not an improving idea but against the original idea. Please skip this idea in this thread.

From the day I opened this thread there was not even 1 drawdown that lasted more than 4 entries before closing in BE and also never lost any basket.

Those who try to trade in the direction of previous daily bar - open new thread and loose your money. Not here.

All of you that keep saying all the time that this is dangerous to trade averaging down system - go find other threads.
Forex is risky but you need to learn first how to reduce risks. If you don't know how - you are in the wrong place.
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