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Monday/Tuesday Breakout EA

  • #321
  • Edited 11:35am Feb 25, 2021 11:05am | Edited 11:35am
I'm back on the case!

The next version will include an optional trend filter, which will take a trade only in the direction of the detected trend.

The visuals are also updated to show only the necessary guides for the current trend.

Screenshots from AUDJPY:
1) Long trend - trade taken would have been a win.
Attached Image (click to enlarge)
Click to Enlarge Name: 72bb09d238f3a01d9c7d277049964a95.png Size: 36 KB

2) No trend - no trade would have been taken, keeping you out of a losing trade.
Attached Image

3) Short trend - no trade would have been triggered, which would have kept you out of a wild ride for the week!
Attached Image
"Pips are vanity. Profit is sanity."
  • #322
  • Feb 25, 2021 12:18pm Feb 25, 2021 12:18pm
Thanks a lot Paul
  • #323
  • Feb 27, 2021 3:20am Feb 27, 2021 3:20am
Quoting PaulDV
I'm back on the case!

which would have kept you out of a wild ride for the week! {image}
Wild ride to say the least!



Attached Image (click to enlarge)
Click to Enlarge Name: 2021-02-27_19-18-10.jpg Size: 649 KB
It takes a lot for me to IGNORE you, but you can try.
  • #324
  • Mar 7, 2021 10:15pm Mar 7, 2021 10:15pm
I am using PaulDV EA 1.091 version. Should I use the News Filter True or False?
Thanks.
Pramod
  • #325
  • Mar 8, 2021 1:52am Mar 8, 2021 1:52am
Quoting gupta_pramod
I am using PaulDV EA 1.091 version. Should I use the News Filter True or False? Thanks. Pramod
LIVE or DEMO?

If demo, run 2 accounts, 1 for True, 1 for False

Live? up to you I think

It takes a lot for me to IGNORE you, but you can try.
  • #326
  • Mar 11, 2021 11:55pm Mar 11, 2021 11:55pm
Quoting Erebus
{quote} LIVE or DEMO? If demo, run 2 accounts, 1 for True, 1 for False Live? up to you I think
Thank you Erebus. My account is a LIVE account and have installed the EA on 28 pairs. It is doing good so far. Should I close all open trades by end of Friday? What is recommendation? Appreciate your help.

With regards,
Pramod
  • #327
  • Mar 12, 2021 12:08am Mar 12, 2021 12:08am
Quoting gupta_pramod
{quote} Thank you Erebus. My account is a LIVE account and have installed the EA on 28 pairs. It is doing good so far. Should I close all open trades by end of Friday? What is recommendation? Appreciate your help. With regards, Pramod
If it was me, I would close everything on Friday sometime, but as I said before, it's up to you

It takes a lot for me to IGNORE you, but you can try.
  • #328
  • Mar 12, 2021 8:39am Mar 12, 2021 8:39am
Quoting gupta_pramod
Should I close all open trades by end of Friday?
After years of trading, my personal opinion and advice: avoid to go to sleep with open positions and never take them over the weekend. Sure depends on your strategy and leverage. I have some XAUSUSD that I hope to close in profit someday that I keep over a longer time. But my daily "work" should end at the end of the day. Since I follow that strategy I sleep much better and I can also relax much better over the weekend.
Set a goal, set limits. Follow your rules.
Okay, that's general bullshit. But you asked...

P.S.: don't be greedy
  • #329
  • Mar 12, 2021 2:18pm Mar 12, 2021 2:18pm
Quoting ursinho4711
{quote} After years of trading, my personal opinion and advice: avoid to go to sleep with open positions and never take them over the weekend. Sure depends on your strategy and leverage. I have some XAUSUSD that I hope to close in profit someday that I keep over a longer time. But my daily "work" should end at the end of the day. Since I follow that strategy I sleep much better and I can also relax much better over the weekend. Set a goal, set limits. Follow your rules. Okay, that's general bullshit. But you asked... P.S.: don't be greedy
Thank you. Will follow your advice to close all open trades by end of Friday.
  • #330
  • Mar 20, 2021 11:49pm Mar 20, 2021 11:49pm
My 1st week was a profitable week. But, the 2nd week was a brutal losing week with default settings (Wed start) on 28 pairs. I am going to try it with PaulDV settings (Post # 224 & 225) on 11 pairs only. Let us see.
  • #331
  • Mar 24, 2021 10:03am Mar 24, 2021 10:03am
Quoting ursinho4711
{quote} Did I write something about commercial? This https://www.forexfactory.com/showthread.php?t=976730 EA is open code: {file}
welcome to have another multipair EA here!!
  • #332
  • Mar 25, 2021 11:22am Mar 25, 2021 11:22am
what setup do you suggest?
  • #333
  • Mar 25, 2021 1:59pm Mar 25, 2021 1:59pm
Quoting chinchano
what setup do you suggest?
You can refer PaulDV's settings on Post # 224 & 225.
  • #334
  • Mar 26, 2021 8:35am Mar 26, 2021 8:35am
Quoting gupta_pramod
{quote} You can refer PaulDV's settings on Post # 224 & 225.
i try backtest and full loss
  • #335
  • Mar 29, 2021 1:35pm Mar 29, 2021 1:35pm
I am using PaulDV's settings on Post # 224 & 225 with Min Lot Size = 0.01 and Max Lot Size = 0. Why the EA is opening 0.02 or 0.03 lots sometimes?. Do I need to change Max Lot Size = 0.01 as well?
  • #336
  • Mar 30, 2021 3:48am Mar 30, 2021 3:48am
Quoting gupta_pramod
I am using PaulDV's settings on Post # 224 & 225 with Min Lot Size = 0.01 and Max Lot Size = 0. Why the EA is opening 0.02 or 0.03 lots sometimes?. Do I need to change Max Lot Size = 0.01 as well?
If you're using money management, then the lot size will change depending upon the size of the SL.

You can switch this off and use a fixed lot size in the settings:
Attached Image
"Pips are vanity. Profit is sanity."
  • #337
  • Apr 8, 2021 10:48am Apr 8, 2021 10:48am
Quoting PaulDV
{quote} Not sure, but let's do the maths: Max of 11 trades. Risking 1% per trade, that's a max loss of 11% if it all goes wrong. Using R:R of 1:2, that's a max win of 22%. We know that a gain of between 5% and 10% is achievable, especially using Equity Guardian. This equates to roughly 25%-50% of the maximum (so, we're not being too greedy!). Scale up the risk to 5% per trade: Max loss of 55% if it all goes wrong (bugger!). Max win of 110%. Making a gain of between 27.5%-55% not inconceivable. I increased the R:R to 1:3 (taking the max possible...
Can you show me your installation v1.091
  • #338
  • Apr 18, 2021 7:33pm Apr 18, 2021 7:33pm
is anyone still running this EA?

or perhaps Paul, can you backtest last week?

I see a great hit rate, reference to the original thread

no buffer, and strict 2 to 1 TP

https://www.forexfactory.com/thread/...9#post13500589

I found a key criterion was that the Mon Tue range was low volatility, staying close to the range of only 1 day of ADR(20)

Comments?

Attached Image (click to enlarge)
Click to Enlarge Name: 2021-04-19_10-28-20.jpg Size: 425 KB
It takes a lot for me to IGNORE you, but you can try.
  • #339
  • Apr 19, 2021 12:31am Apr 19, 2021 12:31am
Quoting PaulDV
{quote} Not sure, but let's do the maths: Max of 11 trades. Risking 1% per trade, that's a max loss of 11% if it all goes wrong. Using R:R of 1:2, that's a max win of 22%. We know that a gain of between 5% and 10% is achievable, especially using Equity Guardian. This equates to roughly 25%-50% of the maximum (so, we're not being too greedy!). Scale up the risk to 5% per trade: Max loss of 55% if it all goes wrong (bugger!). Max win of 110%. Making a gain of between 27.5%-55% not inconceivable. I increased the R:R to 1:3 (taking the max possible...
Show me a picture of how to install Equity Guardian EA
  • #340
  • Apr 19, 2021 3:03am Apr 19, 2021 3:03am
Quoting Erebus
is anyone still running this EA? or perhaps Paul, can you backtest last week? I see a great hit rate, reference to the original thread no buffer, and strict 2 to 1 TP https://www.forexfactory.com/thread/...9#post13500589 I found a key criterion was that the Mon Tue range was low volatility, staying close to the range of only 1 day of ADR(20) Comments? {image}
Hi Erebus!

An interesting observation. What margin are you using for the comparison with the ADR? It looks like 20%-25% would have kept out of losing trades pretty well.
"Pips are vanity. Profit is sanity."
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