Trading Made Simple

EU hit 'ceiling' 1.2100

GU hit 'ceiling 1.3600

It depends on your own objectives what you want your journal for.

I created my own using Excel VBA tools.

Todays Dow Jones
Ever had the Idea of selling the rebound points of a dip?
Practically you try to short the possible profit taking areas.
Only scalping.

Attachment g

USDCHF Jan 15 NY Close

- did the 'bounce' work out?

- next week is a new game plan

In trading system, development, I learned 5 categories of exits.
See this old post #61,385
https://www.forexfactory.com/thread/...12#post8536512

Knowing these, I developed for each system its exit strategy to trade the market type conditions.

Big E' (close all trades) exit at 6am his local time is an example of Timed Exit. This is based on his observation of the market liquidity and his belief that the price swings run 3 to 8 HA candles.

When day-trading H1, my exit strategy based on Multi-Lot Entries & Exits ...TMS-II.

Example AU trades closed yesterday.
I used THV CaveManager to manage the trade exits - TP1, TP2, TP3 and final TP.

vary valuable information. doing top-down analysis and wave and candle count as well as where we are in the bigger swing will improve our trading a lot.
I have read some people make a 1-hour chart trade to a daily chart trade and make 300 to 500 pips profit. I never understand how they do it. They have very good skills. when I try to do it hit my stop loss.

hi friend i'm newbie,
I also trade HA but trend following. I am also exploring this system, hope you help.
Do you still have this trading system?
do you use stop loss?
what is the ratio of R: R you gain? Thank you

listen to this too,

Keep on with what works for you.

How is the FTMO career going, have you already passed the 60 days cycle and got funded?

This is a profitable trading strategy. I share it here People could make an EA with this. Those how can't code like me Can use this in their Manual trading.
I expect some expert coder will code it and share it here so that other traders get the benefits from this free but Valuable system. If anyone could code it appropriately It should generate profit.



Rules (strategy, entry, exit)
Main rules:
1. EA opens a trade
a. sell, if price touches upperBB //mean-reversal strategy
b. buy, if price touches lowerBB
2. open at the same time a hedge trade (in opposite direction)
3. if trade goes in loss, TP of hedge trade is triggered
4. if trade goes further in loss, trade hits SL
5. but if trade goes back to entry, then enter a new hedge trade (with same entry, TP, SL).
6. if trade goes further in profit, trade hits TP.

Misc rules:
⦁ EA is fully automated
⦁ all orders are instant orders
⦁ only 1 order is open at a time
⦁ only open an order, if spread<0.5 pips
⦁ only exit an order, if spread<0.5 pips

___________________________________________



EA parameters
Trade management
⦁ on/off: EAisAlwaysOn =on (default)
⦁ lotsize: 0.02
⦁ TP_SL_method: [fixed, fixed upperband to centerband, fixed upperband to lowerband, dynamic from upperband to centerband, dynamic from upperband to lowerband]
⦁ TP:
⦁ fixed: [20] pips
⦁ fixed: from upperband to centerband/lowerband //use fixed TP at entry. RR: 1:1
⦁ dynamic: from upperband to centerband/lowerband //use dynamic TP as bands widen. RR: 1:1
⦁ last High/Low, that is minimum [20] pips from entry and max [50] pips
⦁ SL:
⦁ fixed: [20] pips
⦁ fixed: from upperband to centerband/lowerband //use fixed TP at entry. RR: 1:1
⦁ dynamic: from upperband to centerband/lowerband //use dynamic TP as bands widen. RR: 1:1
⦁ last High/Low, that is minimum [20] pips from entry and max [50] pips && SL<=TP

Hedge trade
⦁ useHedge: on/off
⦁ resetHedgeAfterTP: on/off //on means, if hedge_TP is hit, then set a new hedge trade (with exact same entry, SL and TP) //new hedge trade is pending order //delete pending order, if original trade hits SL.
⦁ lotsize hedge: 0.01
⦁ hedge_TP_method: [fixed, fixed centerband, dynamic centerband]
⦁ hedge TP_fixed: [10] pips

Trade direction
⦁ on/off: changeBuytoSell. //this means, buy = sell and sell = buy //momentum strategy
⦁ TradeLong=true
⦁ TradeShort=true
⦁ on/off: if sell order hits SL, then only open buy orders
⦁ on/off: if buy order hits SL, then only open sell orders




Martingale
⦁ useMartingale: on/off //on means, every new trade gets more lotsize until TP is hit
⦁ maxOrders: [9] //this means, after 9 losses, the EA starts from 0.01 lotsize for the next trade.
⦁ lotsizeMethod: [fixed, add, multiply] //add= lotsize + lotsize. //multiply= lotsize x lotsize
⦁ lotsizeStep: [0.03]
⦁ example:
⦁ //add = order 1: 0.03 lot, order 2: 0.06, order 3: 0.09 lot
⦁ //multiply = order 1: 0.03 lot, order 2: 0.09, order 3: 0.27 lot
⦁ resetMethod: [fast, slow]
⦁ example
⦁ //fast means, if a trade hits TP, then reset lotsize to 0.01 for the next trade.
⦁ //slow means, if a trade hits TP, then decrease lotsize for the next trade. For example, order 1 was 0.03, order 2 was 0.06, order 3 was 0.09. If order 3 hits TP, then the next order decreases lotsize to 0.06 (which is the lotsize of previous trade)

Timezone
⦁ Monday on/off
⦁ Tuesday on/off
⦁ Wednesday on/off
⦁ Thursday on/off
⦁ Friday on/off

⦁ London session
⦁ useLOsession=true
⦁ start [7]AM gmt
⦁ end [13]PM

⦁ NY session
⦁ useNYsession=true
⦁ start [14]PM
⦁ end [20]PM

⦁ Night session
⦁ useNightsession=true
⦁ start [21]PM
⦁ end [6]AM

Misc
⦁ skip: [2] //skip means, EA skips 2 consecutive losses (virtually) and afterwards the EA opens a real trade. So, the EA waits for 2 virtual consecutive losses.
⦁ checkPriceEveryTick=false //false means, check price every new candle
⦁ Magicnumber: 123456
⦁ TradeComment: bollinger_band_1.00
⦁ Slippage: 5

_____________________________
Filters (indicators, price action)
Indicators: general
⦁ useIndicators: on/off
⦁ Add basic parameters for all indicators (use default parameter settings)
⦁ all parameters have on/off
⦁ Each indicator seperately should have this parameter: lookback: [10] candles

Indicators: indicator settings

Bollinger band
⦁ only open a new trade, if price closed above outerband directly from ‘centerband'
⦁ entryMethod: [if price touched outerband, if price closed outside outerband, if price crossed outerband and the first opposite candle is closed, if price crossed ‘above’ outerband and returns ‘below’ outerband]
⦁ //entryMethod #1: if price touched outerband
⦁ //entryMethod #2: if price closed outside outerband
⦁ entryPipsFromOuterband: [5] //entry is 5 pips above upperband or below lowerband
⦁ entryAfterSomeCandles: [1] //if candle closed above upperBB, then wait for [1] other bullish candle to close and then open a trade.
⦁ //entryMethod #3: if price crossed outerband and the first opposite candle is closed
⦁ //this entryMethod means, for example: price crossed upperband and is followed by 6 bullish candles. Then, sell, if a bearish candle closed.
⦁ //entryMethod #4: if price crossed ‘above’ outerband and returns ‘below’ outerband
⦁ maxPips: [5] pips //if candle closes (from outside outerband to inside outerband), then only open a trade if entry is maximum [5] pips from outerband.
⦁ only open a trade, if (HIGHBB-LOWBB)<= [20] pips //momentum strategy
⦁ only open a trade, if (HIGHBB-LOWBB)>= [50] pips //mean-reversal strategy

⦁ only open a buy trade, if centerband slopes [upwards, downwards]
⦁ slope degree <=[40] degrees //mean-reversal strategy
⦁ slope degree >=[20] degrees //momentum strategy
⦁ for at least [6] candles
⦁ for at least [3] swings
⦁ only open a sell trade, if centerband slopes [upwards, downwards]
⦁ slope degree <=[40] degrees //mean-reversal strategy
⦁ slope degree >=[20] degrees //momentum strategy
⦁ for at least [6] candles
⦁ for at least [3] swings

⦁ only open a trade, if price came from centerband.
⦁ only sell, if price came from [upperband, lowerband]
⦁ only buy, if price came from [upperband, lowerband]
⦁ don’t open a trade, if [3] and more candles ago price was [5] pips below the upperband (or [5] pips above the lowerband)
⦁ don’t open a trade, if between [4] and [10] candles ago price touched the outerband

squeeze indicators
⦁ only open a trade, if squeeze<[10]
⦁ only open a trade, if squeeze>[50]

arrow indicators
⦁ only buy, if arrow is up
⦁ only sell, if arrow is down

atr/adr
⦁ open a trade in the direction of candle_open, if ATR>ADR
⦁ open a trade in the opposite direction of candle_open, if ATR<ADR

ATR
⦁ [buy], if previous down swing has a bearish ATR swing
⦁ [sell], if previous up swing has a bearish ATR swing
⦁ only open trade, if ATR breaks above 20EMA //for momentum strategy
⦁ parameter: on/off. If ATR increases, then increase TP/SL (use same ratio as ATR)
⦁ ATRmacd_OsWAD(trueforex.pp.ua).mq4:
⦁ only open a trade, if color changes from light green to dark green //momentum strategy
⦁ only open a trade, if color changes from dark red to light red

candle length indicator
⦁ only open a trade, if candle length>[10] pips
⦁ wick indicator
⦁ only open a trade, if candle wick>[5] pips
⦁ sell for [bullish] wick
⦁ buy for [bearish] wick

gap finder
⦁ only open a trade in direction of previous gap
⦁ gap is at least [10] pip. Lookback is [50] pips.

single moving average
⦁ only open a trade, in direction of MA
⦁ buy, if price is above MA
⦁ sell, if price is below MA

crossover moving average
⦁ only open a trade, in direction of crossover. Lookback is [10] candles

oscillator
⦁ sell if overbought
⦁ buy if oversold
⦁ only sell, if price[1]>overbought, price[0]<overbought //this means, sell, if previous candle was inside overbought zone and now closed below this zone.
⦁ skip [1] //skip the first time that price crosses below overbought, and open a trade if price goes above and then goes below overbought again (for the second time)

pivot point
⦁ only sell, if price goes upwards and touches pivot point
⦁ only buy, if price goes downwards and touches pivot point

volume indicator
⦁ only open a trade, if volume is above [50] //momentum strategy
⦁ only open a trade, if volume is below [50] //mean-reversal strategy

zigzag indicator
⦁ only sell, if down swing is bigger than previous up swing
⦁ only buy, if up swing is bigger than previous down swing

candlestick indicator
⦁ only open a trade, if doji
⦁ only open a trade, if bullish/bearish engulfing pattern


___________________________
Price action:
⦁ usePriceAction: on/off
⦁ wick
⦁ don't open a trade, if candle wick (of previous candle) outside of outerband, is longer than [10] pips
⦁ trading conditions: only open trade, if candle wick (of previous candle) outside of outerband, is less than [5] pips
⦁ re-test
⦁ only buy if sell failed the re-test
⦁ big swing
⦁ skip [200] pips //this means, wait for a 200 pip swing, and then start trading
⦁ only open a trade, if previous [200] pips did not have a 50% retracement
⦁ lookback: [20] candles
⦁ method: [only for candle close, only from high of swing until low of swing] //the last option means: all candles between ‘swing high and swing low’.
⦁ swings
⦁ only open a trade, if previous two swings were [HH][LL][HL][LH]
⦁ only open a buy trade, if price previously touched [lowerband, upperband]
⦁ only open a sell trade, if price previously touched [lowerband, upperband]
⦁ candles
⦁ only open a trade, if [6] consecutive bullish/bearish candles
⦁ exit trade in profit, if trade goes immediately [5] pips in profit without going [2] pips in loss
⦁ breakeven, if trade goes immediately [5] pips in profit without going [2] pips in loss

If you like to code an ea, you can do the above strategy. It is a profitable strategy if you code it accurately.
Thanks in advance.

@hasib -- amazing job of documenting all the rules. However, I can tell you have no idea about programming. This would take about a year -- not including testing and bug fixing. This isn't something a developer could toss together over the weekend. It would also require constant communication with you -- the algorithm's designer. If you were to hire a software company in the US or Western Europe you'd be looking at around $150 / hr in development costs -- at least. India is another option -- many excellent programmers at a fraction of that cost. But still a significant project. A programmer here a FF would never touch it -- not because it's not a good idea -- but because they would be devoting a good chunk of their life working on something without pay and with only your assurance it would later pay off.

If the program this EA. They will get the reward too. In the end, they will get a profitable system. It is better to program an EA spending a week that is profitable than programming 100 EA that takes 1-hour each coding but all are a loser. To have something good we have to sacrifice something.
True I don't have any idea about Programming, I think you can give it a try too.
If anyone does one step at a time, Little by little it will be complete soon.

@hasib -- it doesn't take an hour to code an EA. You've been at FF long enough and have visited enough threads to know that EAs take many weeks / months to develop. The one you outlined above is much more complex -- I estimated about a year.


"It is better to program an EA spending a week that is profitable than programming 100 EA that takes 1-hour each coding but all are a loser."

I really don't wish to get into an argument over EAs. The profitability of an EA has *nothing* to do with how long it takes to code. It's the strategy behind it. It would be equally accurate to say "It is much better to program an EA spending a week that is profitable than programming 100 EA that take 1-year each coding but all are losers". Again -- it's not how long it takes to program -- it's the strategy. Also, in my experience, simple strategies have a tendency to work out better than complex ones. And the strategy you described above definitely does not fall in the KISS category.

I'll be honest -- no programmer would touch your strategy and spend all that time based solely on your assurance it will be profitable. I think I've read here at FF once or twice where people claim things that aren't true -- and I'm being sarcastic. If you ever want to bring you strategy to fruition as an EA then I suggest you spend approximately 6 months to learn how to code MQL4 and then implement it yourself. You're young. You'll be in this game for many more years to come. The best investment you'll ever make -- much more valuable than trading -- is to learn how to code your ideas.

@hasib -- you have so many ideas and are so passionate about trading that I know it must be frustrating not being able to test and experiment when something pops into your head. Just as you can assure us your strategy will be profitable, I can assure you that the most satisfying experience you will ever have with forex is when you are able to code aqnd implement your own ideas.

@hasib -- since you got me started, another thing about coding and profitability...

What I'm about to say may not apply to all developers, but it is true of most that I've known...

I'm definitely interested in making money -- no question. But if you gave me the choice of:
(a) Giving me an pre-built EA that makes $1000 USD
(b) Coding my own EA that makes $100 USD

Do you know which one I would choose? The answer -- without hesitation -- is (b). And that's because the satisfaction that comes with creating something also carries great value. The human brain is wired for exploring and creating. When you create something that works then you feel you are in the right place.

Agree with you.

@robots4me I have always been interested in coding custom indicators and ea could you please recommend any good book to read for beginners