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Daily95pips

  • #981
  • Nov 15, 2007 8:28am Nov 15, 2007 8:28am
Hey guys,
I am testing out the North Finance EA Fall version and find that something is not particularly right. The orders that it is placing are not above the day's high or low but looks more like the start hour's high or low.

Can someone confirm this please or did I probably missed out on my settings?
  • #982
  • Nov 15, 2007 8:43am Nov 15, 2007 8:43am
Quoting gyfu
Hey guys,
I am testing out the North Finance EA Fall version and find that something is not particularly right. The orders that it is placing are not above the day's high or low but looks more like the start hour's high or low.

Can someone confirm this please or did I probably missed out on my settings?
I am with you on North Finance. My results are way off a lot of the time. It doesn't give me the confidence to go live with this EA.

Rob
  • #983
  • Nov 15, 2007 11:47am Nov 15, 2007 11:47am
Hello room,

Decided to test this strategy after following it for some time. Tested it on the EJ after yesterdays closing. Got all 95pips. Plan to continue to use it and post results. Love the idea of placing order, leaving it, and checking on it the following morning, should be less stressful.
Seek and ye shall find, knock and the door will be opened.
  • #984
  • Nov 15, 2007 12:16pm Nov 15, 2007 12:16pm
No trade today. The wretched computer did a Windows Update and rebooted. I was sure I had cancelled auto-update, but clearly not. Hey ho.

I have worked out why my results have been different to Mike's, and why the gap didn't get me on Monday.

IBFX Fall version, I have set to place the pending orders at 8.00am London time, which is 3.00 am EST. I did this to catch the opening of the London market.

It has worked well this week - up +396, of which 193 are live. It is not exactly sticking to a well-tried strategy that has stood up well to the 5.00pm EST. Should I leave things as they are, or change?

What do the troops think?


  • #985
  • Edited 12:33pm Nov 15, 2007 12:29pm | Edited 12:33pm
Quoting mikelath
Daily95pips:

Date: Monday 12 November 2007
EURJPY -90
USDJPY -90
EURUSD -90

Total: -270pips

Comment: A nice slap in the face to start the week.

Date: Tuesday 13 November 2007
EURJPY -90
USDJPY nt
EURUSD -90

Total : -180pips

Comment: Hmmm.

Date: Wednesday 14 November 2007
EURJPY +90
USDJPY +45
EURUSD +53

Total: +188pips

Comment: This week has been a little kaotic in terms of recording accurate results. The EA sometimes hasn't been calculating both long and short orders, so I'm back to incorporating some paper traded results along with some results from the EA. I've also been experimenting with the DayStartHour setting which has somewhat thrown things out of whack.
----------------------------------------------------------------------
Hello all!

My results for this week (11th to 15 th November).
The results are amazing, though I don't know how, one could get most of the reults only positive like mine.
Anyway, Iam reporting here as it is.
Today, I closed 2 orders manually.
Thak you all, specially, Mike, PipHunter, and Pr1mer and rest.
Sincerely,
rswamy4449

Here are the results:

EURJPY=+25.34
+50.71
+84.63
----------------------
+26.88
0.00
0.00
----------------------
+25.67
+51.28
+85.38
-----------------------------------
+29.77
0.00
0.00
---------------------------
gbpjpy: +25.32
+50.64
+84.44
--------------------------
-53.59
-53.59
-53.59
---------------------------------
+27.46
0.00
------------------
+25.68
0.00
0.00
--------------------------
-59.35
-59.35
-59.35
------------------------
gbpusd: +25.50
+51.00
0.00
----------------------------------
+27.00
0.00
0.00
---------------------------------
+27.00
+54.00
+90.00
---------------------
+30.00
+60.00
+100.00
------------------------
eurusd: +27.00
0.00
0.00
---------------------------
-54.00
-54.00
-54.00
________________________
+27.00
+54.00
+90.00
----------------------------
+30.00
here, today
I closed only these 2 trades manually: +8 and +6 pips
--------------------------------------------------------------
usdchf: +26.31
+53.49
0.00
__________________

+26.73
+53.53
+89.37
------------------------------
  • #986
  • Nov 15, 2007 2:09pm Nov 15, 2007 2:09pm
Quoting SteveHopwood
No trade today. The wretched computer did a Windows Update and rebooted. I was sure I had cancelled auto-update, but clearly not. Hey ho.

I have worked out why my results have been different to Mike's, and why the gap didn't get me on Monday.

IBFX Fall version, I have set to place the pending orders at 8.00am London time, which is 3.00 am EST. I did this to catch the opening of the London market.

It has worked well this week - up +396, of which 193 are live. It is not exactly sticking to a well-tried strategy that has stood up well to the 5.00pm EST. Should I leave things as they are, or change?

What do the troops think?


Steve

I for one am very pragmatic - if it ain't broke - don't fix it.

In stating the obvious, it is the trend reversals that cost pips using this system. If having the EA initiate the pending orders at the opening of London means fewer revesals during the day, then the losses should also be fewer.

Does the EA still close all orders at the end of the trading day before the Far East markets open? If so, one of the downsides I see is that the orders would have less time to do their thing. It will be interesting to see what effect different 'start' times will have on the results. Even more curious, will each pair have a 'best' time for the EA to initiate the pending the orders? For example, maybe EURUSD works best when the orders are started at the open of London where USDJPY may work best when the orders are started at the open of New York.

The potential is endless - but the possibilities may my head hurt...

Any more thoughts....

Tim
  • #987
  • Nov 15, 2007 4:53pm Nov 15, 2007 4:53pm
Quoting tsquad
Steve

I for one am very pragmatic - if it ain't broke - don't fix it.

In stating the obvious, it is the trend reversals that cost pips using this system. If having the EA initiate the pending orders at the opening of London means fewer revesals during the day, then the losses should also be fewer.
This could come down to us watching the trends and working out when the trend is retracing or about to retrace. For example, take a rising trend. The price could trigger one of our orders just before a retrace kicks in and wipes out the trade. Logically, we should be able to look at the chart and note when the rising price should be about to falter because the price rises in waves, yet we all know how difficult this is to do.

Quote
Does the EA still close all orders at the end of the trading day before the Far East markets open? If so, one of the downsides I see is that the orders would have less time to do their thing. It will be interesting to see what effect different 'start' times will have on the results. Even more curious, will each pair have a 'best' time for the EA to initiate the pending the orders? For example, maybe EURUSD works best when the orders are started at the open of London where USDJPY may work best when the orders are started at the open of New York.

The potential is endless - but the possibilities may my head hurt...

Any more thoughts....

Tim
Ye Gods, anybody got any headache pills?

This thread started with a fire-and-forget strategy. Here we are trying to turn it into a fire-and-make-even-better strategy. Life isn't easy, is it?

Ok, my demo account has sent the pending orders at 22.00 gmt (5.00 pm est). My live account is set to do the same 10 hours later, at 8.00 am gmt (3.00 am est). It will be interesting to see what happens to the two sets of orders. Guess which I hope is right?

My best guess? Just as a trend is a trend or a blip depending on the time frame involved, so a breakout happens from whatever starting point is chosen or it doesn't. A breakout just prior to setting the pending orders automatically creates a fresh channel to set the orders by.

So, if the breakout is in the direction of the prevailing trend, then it is more likely to be a genuine breakout. If not, it is more likely to be a brief retrace. I am thinking about aloud here, and it is proving most useful. This encourages me to check the direction of the trend when looking at the orders the ea has set.

Hmmmmmmm. Simple, this forex business isn't it? The price goes up, so we buy and make a fortune. It falls, so we sell and make a fortune. If only.........

  • #988
  • Nov 15, 2007 11:38pm Nov 15, 2007 11:38pm
I decided to "go live" with this strategy on Monday... with horrific results.
But in my demo accounts previously, I did see some good results, so I do see promise.

In my experimentation I tried lots of pairs. But now I am returning to the six pairs posted in the original. And we'll see if things improve. Certainly when we have a range bound session (like tonight) not much is gonna happen. Or when we have violent breakouts, retracements, and then
reversals, this is the worst scenario for the strategy. This reminds me of the ORB strategy I once used in futures.

Here is my question: look at the net exposure of the strategy. It seems that in the original six pairs, it is Euro-centric somewhat. Is this just a net Euro play? Or did you do some work to balance it in some cases?

Secondly, the EURGBP pip value is almost twice that of most other pairs. Do you halve your volume then to account for this?

Thanks for a very interesting strategy.
Longboard
  • #989
  • Nov 16, 2007 6:39am Nov 16, 2007 6:39am
I first tried the strategy on my demo acct. with good results on the 15th, got all 90pips. So I dedided to try it on my live acct. and be smart with only one position, didn't work out too well. Used 30pip s/l with a 40 pip t/p. Got stopped out. Had I used the strategy as spelled out, would have been stopped out but with a 15pip gain. Going to go back to the demo for a while using the strategy as planned.
Seek and ye shall find, knock and the door will be opened.
  • #990
  • Nov 16, 2007 7:03am Nov 16, 2007 7:03am
Quoting chaphar
I first tried the strategy on my demo acct. with good results on the 15th, got all 90pips. So I dedided to try it on my live acct. and be smart with only one position, didn't work out too well. Used 30pip s/l with a 40 pip t/p. Got stopped out. Had I used the strategy as spelled out, would have been stopped out but with a 15pip gain. Going to go back to the demo for a while using the strategy as planned.
What you described was not going live with this system. You set an entry order with a 40 pip limit and a 30 pip stop. That isn't this system.

People seem to be misunderstanding that the power of this system is in the number of variations a day can have. The day can range from -90 to +95 with many possibilities in between.
The basis of a democratic state is liberty. ~ Aristotle
  • #991
  • Nov 16, 2007 8:55am Nov 16, 2007 8:55am
OK then how did the system do last night? Are my results far off?
I've tried to follow the system exactly as laid out using +15, +30, +50TP, and -30SL. I have used the original pairs GBPUSD, EURUSD, GBPJPY, USDJPY, EURJPY, EURGBP. I enter the orders as of 5PMEST.

I use Oanda so I do not have an EA.

As of 9:54EST today I have -105.
S EURUSD -45
S USDJPY +15
S GBPUSD -90
S EURJPY +15

The rest of the orders are pending, the EURGBP being the closest at 11.6 ticks.
  • #992
  • Nov 16, 2007 11:09am Nov 16, 2007 11:09am
I think this is just a bad week for the system... but overall performance should outweigh this drawdown...I for one, am still positive about the performance. Any system you use will eventually have a bad week or two, you cant win them all...
  • #993
  • Nov 16, 2007 11:17am Nov 16, 2007 11:17am
Quoting Troon
I think this is just a bad week for the system... but overall performance should outweigh this drawdown...I for one, am still positive about the performance. Any system you use will eventually have a bad week or two, you cant win them all...
Very much agreed. I just would like to find out others' results to make sure I am implementing the strategy correctly.

BTW, more pips also = more surfing!
  • #994
  • Edited 12:00pm Nov 16, 2007 11:49am | Edited 12:00pm
Another decent day, using the IBFX fall EA on IBFX demo,

EURUSD = +15 pips

EURJPY = +45 pips

USDJPY = +15 pips

+75 pips for Friday,

I'm putting the CHFJPY back as the fourth pair on the strategy as its had three very good days this week, see how it does.

Might take this live with small lot sizes middle of next week.

This is a great and consistently good system, I'll not be trading it on Sunday / Monday - too dodgy after this weeks Monday results eek!

Very impressed

Cal
  • #995
  • Nov 16, 2007 11:54am Nov 16, 2007 11:54am
I first tried the strategy on my demo acct. with good results on the 15th, got all 90pips. So I dedided to try it on my live acct. and be smart with only one position, didn't work out too well. Used 30pip s/l with a 40 pip t/p. Got stopped out. Had I used the strategy as spelled out, would have been stopped out but with a 15pip gain. Going to go back to the demo for a while using the strategy as planned.


Quoting Vensik
What you described was not going live with this system. You set an entry order with a 40 pip limit and a 30 pip stop. That isn't this system.

People seem to be misunderstanding that the power of this system is in the number of variations a day can have. The day can range from -90 to +95 with many possibilities in between.
I couldn't agree with you more. Got ready to go live, and that emotion called fear stepped in, tried to make money instead of placing a proper trade. Thanks for the comeback, it was very helpful.
Seek and ye shall find, knock and the door will be opened.
  • #996
  • Nov 16, 2007 11:59am Nov 16, 2007 11:59am
Quoting currymonster
Another decent day, using the IBFX fall EA on IBFX demo,

EURUSD = +15 pips

EURJPY = +45 pips

USDJPY = +15 pips

+75 pips for Friday,

This is a great and consistently good system, I'll not be trading it on Sunday / Monday - too dodgy after this weeks Monday results eek!

Very impressed

Cal
Same results here w/ ODL. Very much impressed as well! Hope this isn't TGTBT! I suppose time (and testing) will tell.
Within apparent chaos there is order for those who know how to look
  • #997
  • Nov 16, 2007 12:36pm Nov 16, 2007 12:36pm
Quoting gfsound
Same results here w/ ODL. Very much impressed as well! Hope this isn't TGTBT! I suppose time (and testing) will tell.
Yes indeed, but Mike's had several consistent Months of several hundred pips up at the end of each Month So I'm hopeful that it's a long term keeper

Cal
  • #998
  • Nov 16, 2007 12:40pm Nov 16, 2007 12:40pm
Quoting gfsound
Same results here w/ ODL. Very much impressed as well! Hope this isn't TGTBT! I suppose time (and testing) will tell.
-----------------------
Hello!
My results for today:

gbpjpy: +29.99
+60.00
+100.00

eurjpy: +29.98
+60.02


gbpusd: -60.00
-60.00
-60.00

eurusd: +30.00
--------

rswamy4449
  • #999
  • Nov 16, 2007 2:25pm Nov 16, 2007 2:25pm
Hi all and thanks for the great thread...

I recently found this and decided to try and help with some demo testing. My setup is as follows:

11 IBFX demo accounts with the appropriate EA
Running on all 19 currency pairs offered by IBFX and 1 hour charts
50k demo accounts trading 1 fixed mini lot


Since times have come up a bit I decided to make 11 accounts to try different start times and look back hours as follows:

  1. Demo #01) Start 22EST / Look back 17

    1. Original strategy

  2. Demo #02) Start 00GMT / Look back 23

    1. Tokyo open back 23hrs (almost a full day)

  3. Demo #03) Start 08GMT / Look back 23

    1. London open back 23hrs (almost a full day)

  4. Demo #04) Start 13GMT / Look back 23

    1. New York open back 23hrs (almost a full day)

  5. Demo #05) Start 22GMT / Look back 23

    1. Sydney open back 23hrs (almost a full day)

  6. Demo #06) Start 00GMT / Look back 02

    1. Tokyo open back to Sydney open

  7. Demo #07) Start 08GMT / Look back 08

    1. London open back to Tokyo open (00GMT)

  8. Demo #08) Start 13GMT / Look back 05

    1. New York open back to London open

  9. Demo #09) Start 22GMT / Look back 09

    1. Sydney open back to New York open

  10. Demo #10) Start 13GMT / Look back 13

    1. New York open back to Tokyo open (00GMT)

  11. Demo #11) Start 22GMT / Look back 22

    1. Sydney open back to Tokyo open (00GMT)

The idea would be to run the demos and try to take out pairs that never do well and maybe find out how pairs do during different start times and based off of different look back hours. Any thoughts?

  • #1,000
  • Nov 16, 2007 2:55pm Nov 16, 2007 2:55pm
An excellent Idea. If you have the fortitude to keep the accounts running for the next two or three Months, you'll hopefully get some excellent data for the best times for each currency, as I'm sure different currencies have an optimal time.

Great work dude!

Cal

Quoting mtaboneweb
Hi all and thanks for the great thread...

I recently found this and decided to try and help with some demo testing. My setup is as follows:

11 IBFX demo accounts with the appropriate EA
Running on all 19 currency pairs offered by IBFX and 1 hour charts
50k demo accounts trading 1 fixed mini lot


Since times have come up a bit I decided to make 11 accounts to try different start times and look back hours as follows:

  1. Demo #01) Start 22EST / Look back 17

    1. Original strategy

  2. Demo #02) Start 00GMT / Look back 23

    1. Tokyo open back 23hrs (almost a full day)

  3. Demo #03) Start 08GMT / Look back 23

    1. London open back 23hrs (almost a full day)

  4. Demo #04) Start 13GMT / Look back 23

    1. New York open back 23hrs (almost a full day)

  5. Demo #05) Start 22GMT / Look back 23

    1. Sydney open back 23hrs (almost a full day)

  6. Demo #06) Start 00GMT / Look back 02

    1. Tokyo open back to Sydney open

  7. Demo #07) Start 08GMT / Look back 08

    1. London open back to Tokyo open (00GMT)

  8. Demo #08) Start 13GMT / Look back 05

    1. New York open back to London open

  9. Demo #09) Start 22GMT / Look back 09

    1. Sydney open back to New York open

  10. Demo #10) Start 13GMT / Look back 13

    1. New York open back to Tokyo open (00GMT)

  11. Demo #11) Start 22GMT / Look back 22

    1. Sydney open back to Tokyo open (00GMT)

The idea would be to run the demos and try to take out pairs that never do well and maybe find out how pairs do during different start times and based off of different look back hours. Any thoughts?

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