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

  • #921
  • Sep 21, 2021 3:32am Sep 21, 2021 3:32am
Quoting maahome
{quote} You could always try clicking the attachment clip at the top of the page and downloading the EA from there (whichever version you want to use). Cheers maahome
Thanks a lot
  • #922
  • Sep 22, 2021 8:14am Sep 22, 2021 8:14am
People try with good data to test EA (99,9% quality). For me Xmess EA it’s the best on my opinion, always waiting if Smilee can show its EA (haha).

My advice its reduce on every pair the Drawdrown to the minimal as possible, because if you have large drawdown in simultaneous pairs maybe your account blows. You have to protect your capital if negative events occurs. If you can achieve on every pair 10% of profit anual, like smilee says, without risk, it’s very easy to get money without stress.

I have on my computer TickStory to get Dukascopy historical data, but only I’m allowed to export to Mt4 365 days of every pairs… Do you know how I can get complete data without pay? Thanks a lot.

green pips for everyone.
  • #923
  • Sep 23, 2021 3:00am Sep 23, 2021 3:00am
smilee89 (https://www.forexfactory.com/smilee89): I have a question for you, what we do with Sunday candles? If we have a body candle on friday with more 110 pips, for example, do you open a trade on sunday? Or you wait to Monday.

The same if we have a simultaneous trades open in basket, sunday candle plays a role in this strategy?

Thank you.
  • #924
  • Sep 25, 2021 3:52pm Sep 25, 2021 3:52pm
smilee89 (https://www.forexfactory.com/smilee89) or any other expert...
I got a little doubt and request your valuable opinion.

As per post No.1, we should enter trades usually on the new daily candle open time (subjected to lower spread at that time). I have experience/trading with two brokers, namely, FBS and AVATRADE. Daily candle of FBS opens with Sydney Market Open (=US Market Close) and AVATRADE daily candle opens 3 more hours later (=Tokyo open time). Though, daily candles open at two different times with these two brokers, at a any given time, price of a forex pair is almost equal with these two brokers. In this DOS , we are trying to catch the small retracement to the opposite direction of the previous day. My doubts / questions are ( if I am trading with both these brokers)
1. Is it good to open trades at two different Daily candle opening times?
2. Is it good to open trades with two brokers at a single time, that means , at Tokyo Open OR Sydney Open time? ( I have a feeling / noticed that, when we wait till Tokyo Open time to enter trade, Retracement that we are targeting to catch may have already occurred)

Pardon me , If this Q has no value and looking forward to one of yours' clarification?
  • #925
  • Edited Sep 27, 2021 3:58am Sep 26, 2021 11:59pm | Edited Sep 27, 2021 3:58am
Brother,

Your CutMeTwice EA is fantastic!

But some how the TP & SL, the minimum for it to work is 5.
Possible to change it to start at 1 or make it into decimal pips (0.001)?

I believe you programed it as such at 5 so it can confirm a possible start of a trend to lead it to bigger profit following the trend.
Reason I'm asking if it's possible to edit and share. Is because I would like to use it on micro accounts and tight spread brokers (EURUSD (6-10 spread)) and possibly try on BitcoinUSD.

Oh yes, is the Target Realized the stop point for the EA when profit meets that target?
Not too sure of the value or function of it.

Does this EA have an expiration?
Hope you are able to assist. I've been looking for an EA exactly like this forever.

Looking forward to hear back from you.
Thanks
Eason Chow
{ email address deleted by staff }
  • #926
  • Sep 27, 2021 4:18am Sep 27, 2021 4:18am
[quote=xmess7;13712485]{quote} Please send or post your preset. I wanna see what was used for lotsize... thnx

I apologize for not answering the latest questions, but I don't have spare time in this period
Can you see the message in journal there are the gaps.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 638428e008a9f87d78798e737114a41d.png Size: 32 KB
Click to Enlarge Name: c9fb0627a53d486550bd35c55cec25b9.png Size: 27 KB
  • #927
  • Sep 28, 2021 3:13am Sep 28, 2021 3:13am
Hi All

i found this strategy on TradingView, is it yours? It's called Daily Open Strategy (DOS), It works like the strategy shown here and i have great result on TF 1M on GBPUSD with TP and SL. The strategy, on tradingview, doesn't open operations when the first goes against the trade but the only conditions to close is using TP or SL

My setup for scalping is on GBPUSD tf 1M:
candle range : 0.0002 (2pip)
TP : 77pip
SL : 147pip


Inserted Code
strategy("Daily Open Strategy", overlay=true, default_qty_type = strategy.percent_of_equity, default_qty_value = 100, initial_capital = 10000)
PrevRange = input(0.0100, type=input.float, title="Previous Candle Range")
TP = input(200, title="Take Profit in pips")
SL = input(1000, title="Stop Loss in pips")
startDate = input(title="Start Date", type=input.integer,
     defval=1, minval=1, maxval=31)
startMonth = input(title="Start Month", type=input.integer,
     defval=1, minval=1, maxval=12)
startYear = input(title="Start Year", type=input.integer,
     defval=2015, minval=1800, maxval=2100)
endDate = input(title="End Date", type=input.integer,
     defval=31, minval=1, maxval=31)
endMonth = input(title="End Month", type=input.integer,
     defval=12, minval=1, maxval=12)
endYear = input(title="End Year", type=input.integer,
     defval=2020, minval=1800, maxval=2100)

isLong = strategy.position_size > 0
isShort = strategy.position_size < 0
longTrigger = (open-close) > PrevRange and close<open 
shortTrigger = (close-open) > PrevRange and close>open
inDateRange = (time >= timestamp(syminfo.timezone, startYear,
         startMonth, startDate, 0, 0)) and
     (time < timestamp(syminfo.timezone, endYear, endMonth, endDate, 0, 0))

strategy.entry(id = "Long", long = true, when = (longTrigger and not isShort and inDateRange))
strategy.exit("Exit Long", "Long", loss=SL, profit=TP) 
strategy.entry(id = "Short", long = false, when = (shortTrigger and not isLong and inDateRange))
strategy.exit("Exit Short", "Short", loss=SL, profit=TP)

Now i see the EA by xmess7, we can try this on MT4 but we need delete this conditions "we will open additional trades once a day until we close all open trades as a “basket” of trades when sum of money of the basket is positive" , because this use only TP and SL.

Anyway try this on higher TF! Like Daily or H4, find the correct settings
  • #928
  • Sep 28, 2021 3:57am Sep 28, 2021 3:57am
Quoting davemiata
My setup for scalping is on GBPUSD tf 1M:
candle range : 0.0002 (2pip)
TP : 77pip
SL : 147pip
On the 1 minute chart, how long does it take you to get the 77 pips and how often does your SL hit?
  • #929
  • Sep 28, 2021 4:31am Sep 28, 2021 4:31am
Quoting kweiss10
{quote} On the 1 minute chart, how long does it take you to get the 77 pips and how often does your SL hit?
From 19/09 to today

Average win trade 36 bar
Average loss trade 63 bar
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 1m.png Size: 66 KB
  • #931
  • Sep 28, 2021 8:41am Sep 28, 2021 8:41am
ForexSamsam wrote:
> If the first open trade is in the wrong direction.. why open the next
> trade in the same direction? I think it will be better to open in the
> opposite direction of the first trade...

DOS uses "averaging down" to get out of a bad trade. That only works if you keep adding trades in the same direction (i.e. averaging). If you stack buys and sells you are basically hedging yourself and could just as well have closed all trades (at a loss).
  • #932
  • Sep 28, 2021 2:55pm Sep 28, 2021 2:55pm
Quoting smilee89
If anyone here is a MetaQuotes Language (MQL) coder and wants to cooperate with me 1 on 1 to develop metatrader 5 expert advisor version, please send me a note to my email address: ([email protected]) (" ([email protected])") Cheers
This forum tries to connect traders and encourages cooperation, so lets share the MT5 EA with all.

I strictly followed the strategy from post #1, as per request of OP. For convenience, my EA can correct for broker GMT offset, and can be dropped on a chart in any timeframe as it will internally only consider the timeframe specified in the input parameters (which is D1 by default). For example, the screenshot below is an M5 chart with the original D1 strategy.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2021-09-28 at 21.22.19.png Size: 35 KB

As many posters pointed out, there is ample room for enhancements. OP made it very clear he does not tolerate modifications to the original strategy in this thread. I respect that and will create a new thread to exchange ideas about possible improvements.
Attached File(s)
File Type: ex5 jseDailyOpenStrategy.ex5   58 KB | 545 downloads
  • #933
  • Oct 1, 2021 10:19pm Oct 1, 2021 10:19pm
[quote=veslup;13722015]
Quoting xmess7
{quote} Please send or post your preset. I wanna see what was used for lotsize... thnx I apologize for not answering the latest questions, but I don't have spare time in this period Can you see the message in journal there are the gaps. {image} {image}
Hi, I don't recall if I answer this already but just in case.

The prints u see are for debug purposes. I was testing to see that the EA was doing the following:
1. Using the correct GAP as selected by the user
2. Ensuring that the Candle Size(diff) was also correctly calculated.

And of course from that you can then determine that once the
diff >= gap
is reached that the EA would then go ahead and open a trade, if the other conditions (spread size etc) were met.

In the latest version I removed these print statements.

Jess
Our AWESOME IMAGINATION is the true holy grail!
  • #934
  • Edited 8:14am Oct 2, 2021 1:52am | Edited 8:14am
Quoting yoriz
As many posters pointed out, there is ample room for enhancements. OP made it very clear he does not tolerate modifications to the original strategy in this thread. I respect that and will create a new thread to exchange ideas about possible improvements.
For your info. Those interested in variants and modifications to the original strategy might want to check out this thread (https://www.forexfactory.com/thread/1110079-dosi-daily-open-strategy-improved).
  • #935
  • Oct 2, 2021 8:26am Oct 2, 2021 8:26am
Yoriz wrote:
> For your info. Those interested in variants and modifications to the original strategy
> might want to check out this thread (https://www.forexfactory.com/thread/1110079-dosi-daily-open-strategy-improved).
[ Disliked by Thread Starter ]

Hi Smilee89, I am confused. Why did you downvote my post?!

In many posts in this thread you made very clear anyone contributing to this thread should stick to the original strategy to avoid confusion. I have honored your preference and started a separate thread to discuss modifications of the strategy in order not to polute this thread.

Isn't that exactly what you wanted?
  • #936
  • Oct 26, 2021 1:08pm Oct 26, 2021 1:08pm
@Smilee89 - Any ETA on the release of your EA?

/T
  • #937
  • Nov 1, 2021 2:34am Nov 1, 2021 2:34am
hello no any update
  • #938
  • Nov 10, 2021 8:23am Nov 10, 2021 8:23am
Hello. I’m still backtesting all pairs with Xmess EA. My advice in TF D1 with 11 years of data:

- every pair has itselft settings
- search a pair with low DD Max instead of benefit, there are some pairs with ~90% of winners trades with 3-6% DD max.
- increase lotsize on some pairs increase DD.

At this moment, it’s a good strategy, don’t expect be a millionaire, but there is a chance to make money without any stress.

only requires Study, patience and good MM.
  • #939
  • Nov 10, 2021 8:30am Nov 10, 2021 8:30am
Quoting smilee89
All major pairs except CHF and NZD pairs. Not all pairs already initially traded, waiting for all conditions to meet.
why don’t trade with CHF or NzD?
  • #940
  • Edited 11:47am Nov 10, 2021 11:37am | Edited 11:47am
I also tune the lotsizes to make only ~1% per year per pair (tested over last 3 years). This to prevent getting greedy and avoid high DD risk bit more.

So I recommend tiny lotsizes to keep DD and risk low. Run with e.g. 21 lowest DD pairs out of 28 (tested over last 10 years). With 1% per pair per year its still going to be like over 20% per year profit. When this is run together with couple of other strategies doing similar profits it seems good.

Dont try to get quickly rich with this strategy. Sure way to lose account or 25% (assuming obeying that stop loss limit) of it to eventual DD. This strategy is bad for getting rich quick but seems OK for small extra high winrate profit to be compounded with other stuff.

When backtesting CHF pairs it often makes sense to skip flash-crash in the beginning of 2015. Its really large anomaly and might show as huge DD if you end up to the wrong side of it although pair generally might be good
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