High & Low 8 Hours (GBP/JPY) | Page 29 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

What are Higher High, Higher Low, Lower High and Lower Low? 11 replies

ECN && STP && Scalping && Hedging - Broker Review - Oct 2009 24 replies

Gbp/Jpy High Low Trading System 2 replies

High to High and Low to low time cycles 1 reply

GBP/JPY high or low? 4 replies

Attachments: High & Low 8 Hours (GBP/JPY)
Exit Attachments

High & Low 8 Hours (GBP/JPY)

  • #561
  • Nov 15, 2007 3:50am Nov 15, 2007 3:50am
another 100 pips today..
  • #562
  • Nov 15, 2007 3:55am Nov 15, 2007 3:55am
Yes another 100! Although today's was helped by the release of negative economic data for GBP. Great SYSTEM thank you Nicotina!
Quoting meyour
another 100 pips today..
  • #563
  • Nov 15, 2007 4:08am Nov 15, 2007 4:08am
100 pip for gbpjpy and 40 pip for gbpusd
140 pip for nicos system
tanx nico
  • #564
  • Nov 15, 2007 4:29am Nov 15, 2007 4:29am
Is anyone using the EA and showing profit? Seems as though the EA is placing orders, but not executing the trades. Maybe I have it set up wrong.

TIA.

Carol
  • #565
  • Nov 15, 2007 7:13am Nov 15, 2007 7:13am
Like many others last night...I made 100 pips! Many thanks Nico!!!

Bob in Wisconsin
  • #566
  • Nov 15, 2007 7:19am Nov 15, 2007 7:19am
Quoting Eureka
Is anyone using the EA and showing profit? Seems as though the EA is placing orders, but not executing the trades. Maybe I have it set up wrong.

TIA.

Carol

Carol,

Under the first tab at the top, make sure you have live trading enabled.

Rob
  • #567
  • Nov 15, 2007 7:25am Nov 15, 2007 7:25am
Hi Rob,

Yes, I do.

Carol

Quoting Longboat
Carol,

Under the first tab at the top, make sure you have live trading enabled.

Rob
  • #568
  • Edited 9:15am Nov 15, 2007 8:46am | Edited 9:15am
Nicotina,

abrigado/thanks for this easy and effective system!

One idea for a possible improvement:
entering a second identical buy/sell right after having run into a stop 50 pips away from the original entry level strikes me as being a bit odd.
After all, entering an identical buy/sell shows an expectation that the market is likely to retrace to a bit below the original entry level. If this indeed is your expectation, why not simply reverse your position instead of using a stop and wait for a retrace? Why not collect pips on the way back to the original entry level, of course with more modest profit targets, perhaps only 25-30 pips or thereabout?
Only after this reversal leg is closed, a new buy/sell per your specification should be entered.

just a thought...

bye
Ohka
  • #569
  • Nov 15, 2007 8:56am Nov 15, 2007 8:56am
Quoting Eureka
Is anyone using the EA and showing profit? Seems as though the EA is placing orders, but not executing the trades. Maybe I have it set up wrong.

TIA.

Carol
Hi all..
Great system, thanks to Nicotina and others. A few EAs posted in this thread, can you suggest me one EA with the setting. Thanks a lot..
  • #570
  • Nov 15, 2007 9:21am Nov 15, 2007 9:21am
Quoting bkoori
Nicotina, Billbss, and rest of great mates of this thread. As I promised I am working on the backtest of this system, I will post it as soon as possible. One of the member mentioned that we should consider the year of 2005 and 2006 to make sure that the system will work well in the future. I can say that 2005 had a very tough market due to many ranging days. There was some losing months there, The 100 TP was very hard to be achieved through many trades, the 50 TP target was much better to score. Dont want make you guys exicited so much, I will get it done as soon as possible, u make the judgement

My point is to professional traders to provide much more effective money managment to make this system much more powerful, what I mean is that some days the profit is very high and some others is less that the usual daily taget. The question is how to run and manage this system to make it more efficient by maximizing the profit & minimizing loses just like any other business (THIS HAS NOTHING TO DO WITH GREED!!). Would love to hear thoughts and ideas of course after the permissin of Mr. Nicotina

Good luck every one,

bk
part of a money management system could be to consider volatility when setting stops and price objectives. Perhaps ATR can be used to define these levels. Combine this with a fixed percentage risk level for your position sizing and you'd be half way home. ATR based price levels (reacting to volatilty) combined with a fixed % risk level would automatically reduce position size when volatility gets higher v.v.

I'm also thinking of adding to winning positions when trend indicators suggest that no probable reversal is imminent.
One such method would be to wait for a position to get to, say, +40 or +50 pips and then move the stop to at least break-even. After doing this, the still open position poses no longer a threat to our account, so we can now add to that position with another unit, taking care not to enter into a risk that is higher than the former one. In fact, I think the risk should be considerably less (50% or even lower?) than the initial one...

As to scaling out of a position: I think this is far more diffecult to get right... I'm still working on it and solicit ideas from you guru's...

keep nailing down those pips!
Ohka

P.S. I agree with you that good MM has nothing to do with greed. It's just about risk containment combined with effective resource management. It's about finding a convenient spot somewhere right on top of the Pareto front....
  • #571
  • Nov 15, 2007 9:27am Nov 15, 2007 9:27am
Guys,
If you've been trading forex very long, you've discovered that profitable mechanical systems are almost impossible to come by.
This is one of the few that I've seen. It may be the only one.
I think the "if it ain't broke, don't fix it" rule applies here.
Why mess with it?
  • #572
  • Nov 15, 2007 9:31am Nov 15, 2007 9:31am
I would like to help you, but I think that perhaps my settings aren't correct and that's why the EA isn't performing for me.

Is any one else having success with any of the EAs posted?

Carol

Quoting e_lalz
Hi all..
Great system, thanks to Nicotina and others. A few EAs posted in this thread, can you suggest me one EA with the setting. Thanks a lot..
  • #573
  • Nov 15, 2007 9:44am Nov 15, 2007 9:44am
Hi Folks, I downloaded and installed the EA, the problem is I can not get it to show up on my Metatrader Navigator section where the EA's are displayed. I think the problem has something to do with the fact that it is a mq4 file, the ex4 files seem to show up and work no problem.

Is there an ex4 version, or is there anyway to get the mq4 version up and running.

Thanks
Wonder

http://www.forexfactory.com/images/misc/progress.gif

  • #574
  • Nov 15, 2007 9:47am Nov 15, 2007 9:47am
I think you're wasting your time with the EA.

I tried it a couple of nights.
The first night, it appeared to open the orders at the appropriate times, but it opened them 9 or 10 pips above the trigger.
The next night it didn't open anything.
  • #575
  • Nov 15, 2007 9:58am Nov 15, 2007 9:58am
Quoting wonder
Hi Folks, I downloaded and installed the EA, the problem is I can not get it to show up on my Metatrader Navigator section where the EA's are displayed. I think the problem has something to do with the fact that it is a mq4 file, the ex4 files seem to show up and work no problem.

Is there an ex4 version, or is there anyway to get the mq4 version up and running.

Thanks
Wonder

http://www.forexfactory.com/images/misc/progress.gif

You have to restart your metatrader terminal for the list to refresh. Assuming you put the EA in the proper folder it will show up once you restart.

However, do note the problems others are seeing with the EA. I'd wait if I were you. I think someone will program a new one as soon as they have free time. There are many talented people around. They will eventually find this thread and will make something. I'll be working on it myself in the near future (a week or two) though I'm not a very good programmer. But given the start some have made on this so far, I think it will not be too hard. For an experienced programmer this is pretty simple. I bet they could do it in an hour or two.

The alternative is for folks in the group to chip in to pay someone to write the code. Again, it is not a difficult system, so coding wouldn't cost too much. But, can we trust each other?... And would we then be willing to give it away for free? ... From what I'm seeing, it would pay for itself in 2 to 3 days.

Thought anybody... I vote for waiting for someones charity.
  • #576
  • Nov 15, 2007 10:01am Nov 15, 2007 10:01am
Thanks for the information. Would be nice if someone could fix the bugs.



Quoting billbss
I think you're wasting your time with the EA.

I tried it a couple of nights.
The first night, it appeared to open the orders at the appropriate times, but it opened them 9 or 10 pips above the trigger.
The next night it didn't open anything.
  • #577
  • Nov 15, 2007 11:18am Nov 15, 2007 11:18am
Hi Bllbss,

I have a question for you.

If we say buy stop with 50 SL and try twice and sell stop with 50 SL and try twice, this technicall means all 4 can trigger and fail.
Does it mean our risk ration is 200 pips to 100 pips?

I am not counting both triggering and completing 100pips bothways, of cousre.

Thanks much
TradeSTar
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #578
  • Nov 15, 2007 11:24am Nov 15, 2007 11:24am
Quoting TradeStar
Hi Bllbss,

I have a question for you.

If we say buy stop with 50 SL and try twice and sell stop with 50 SL and try twice, this technicall means all 4 can trigger and fail.
Does it mean our risk ration is 200 pips to 100 pips?

I am not counting both triggering and completing 100pips bothways, of cousre.


Thanks much
TradeSTar
You only let yourself get stopped out twice. It doesn't matter whether they are longs or shorts or both.
The most you can lose in a day is 100 pips.
  • #579
  • Nov 15, 2007 11:39am Nov 15, 2007 11:39am
Quoting billbss
You only let yourself get stopped out twice. It doesn't matter whether they are longs or shorts or both.
The most you can lose in a day is 100 pips.
Oh you mean If I get stopped out twice on the long side, I also close the short side sell stop as well, even though it is not yet triggered and move on to the next day?

Thanks
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #580
  • Nov 15, 2007 11:45am Nov 15, 2007 11:45am
Quoting TradeStar
Oh you mean If I get stopped out twice on the long side, I also close the short side sell stop as well, even though it is not yet triggered and move on to the next day?

Thanks
Yes.
5 traders viewing now