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  • #1,001
  • Nov 16, 2007 3:02pm Nov 16, 2007 3:02pm
I also think this is an excellent idea. If you need any help, let me know.

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?

  • #1,002
  • Edited 3:24pm Nov 16, 2007 3:04pm | Edited 3:24pm
Ok I've not included the results from monday as I'm not going to trade that day, call me a big Jessie if you will!

I'm running the IBFX fall EA with default settings, orders set at 22:00 gmt.

I'm running the official three pairs as well as CHFJPY due to the good results I have. As I hadnt examined the data till earlier and had decided to stick to the three official pairs I didn't set the CHFJPY EA running last night and have no daily data for that pair from today, so as a worst case scenario I've assumed it hit - 90 pips.


Week starting 12/11/07 EURJPY EURUSD USDJPY CHFJPY
Tuesday ++++++++++++95+++++ 0 ++++15+++++ 0
Wednesday ++++++++++15++++ 45++++ 0 +++++95
Thursday +++++++++++15++++ +15 +++45 +++++95
Friday ++++++++++++++45++++ 15++++ 15+++ (-90)

Week total +420 pips - woohoo!

Not half shabby I think you'll agree!

I wouldn't be exagerating to say I'm wetting myself with excitement at this point, and as me and my buddy Steve Hopwood the fibo professor have opt said, I hate weekends, when does the trading start again?

Off to get some adult diapers in case i have some over-excitement issues over the weekend lol ,

Thanks again to MikeLath, Primer et al for this exciting and freely shared system,

Health and many pips to all!
  • #1,003
  • Nov 16, 2007 3:32pm Nov 16, 2007 3:32pm
Thanks for the quick support and I will keep everyone posted as frequently as I can. I will post results at least once a week. I should also mention that doing anything special around news events would be a major amount of work such as disabling certain pairs when news is released which may affect certain pairs. I will make my best efforts to track major news events and note them in the results I post. If trades opened 3 hours ago and news hits there isn't much you can do about it anyways.

I think once time frames and pairs are selected then managing upcoming news events will be easier. You could choose not to run the EA on certain pairs if news is close to coming out.

Also, I noticed that the S/L is set without considering the spread. If a spread is 5 and you start -5 when the trade opens then you really only have 25 pips breathing room right from the start. Is that the best way or should the spread be considered when setting a S/L? Some ideas off the top of my head for EA mods might be...

Consider the spread. Maybe a setting for max spread allowed? In other words, you could say you don't want to trade unless the spread is less than or equal to say 5 or some other number. IBFX can fluctuate a good deal throughout the day and even the EUR/USD can get a pretty wide spread at times. I think this can have a tendency to hurt EAs because it can get out of hand at times and this would give us more control over choosing our conditions to trade.

Another setting (True/False) for spread to be included in the S/L calculation. That way you can choose to use it or not.


I am a programmer so I added a line to show a chart comment showing me the start time and look back hours on the chart. This and maybe some other items shown as chart comments are helpful in saving time so you don't have to check the settings manually. It helps me when running 11 demo accounts each with 19 pairs running. Future updates would be great with this added.

I haven't given the code a great deal of time when looking at it and would like to say that I think it runs well and does what it should. Please don't take my wish list as a dig in any way. I have programmed dozen of EAs myself and know what is involved. My thanks to the programmer responsible for coding it.
  • #1,004
  • Nov 16, 2007 3:44pm Nov 16, 2007 3:44pm
Nice one! I'll wait for Mike to correct me if I'm wrong, but I believe this is a mechanical system and as such once the orders are running you can leave them run regardless of news etc, that's what I've been doing. However I know some people like to baby the trades in order to minimise losses/maximise wins.

My feeling is that you could leave all the orders run through news without change - this would mean that all results you obtained should be robust, easily reproduceable and can be used as a worst case baseline.

Many people may feel my views are wrong and please let me know if you have better ideas?

Anyway, thanks again mtab!


Cal


Quoting mtaboneweb
Thanks for the quick support and I will keep everyone posted as frequently as I can. I will post results at least once a week. I should also mention that doing anything special around news events would be a major amount of work such as disabling certain pairs when news is released which may affect certain pairs. I will make my best efforts to track major news events and note them in the results I post. If trades opened 3 hours ago and news hits there isn't much you can do about it anyways.

I think once time frames and pairs are selected then managing upcoming news events will be easier. You could choose not to run the EA on certain pairs if news is close to coming out.

Also, I noticed that the S/L is set without considering the spread. If a spread is 5 and you start -5 when the trade opens then you really only have 25 pips breathing room right from the start. Is that the best way or should the spread be considered when setting a S/L? Some ideas off the top of my head for EA mods might be...

Consider the spread. Maybe a setting for max spread allowed? In other words, you could say you don't want to trade unless the spread is less than or equal to say 5 or some other number. IBFX can fluctuate a good deal throughout the day and even the EUR/USD can get a pretty wide spread at times. I think this can have a tendency to hurt EAs because it can get out of hand at times and this would give us more control over choosing our conditions to trade.

Another setting (True/False) for spread to be included in the S/L calculation. That way you can choose to use it or not.


I am a programmer so I added a line to show a chart comment showing me the start time and look back hours on the chart. This and maybe some other items shown as chart comments are helpful in saving time so you don't have to check the settings manually. It helps me when running 11 demo accounts each with 19 pairs running. Future updates would be great with this added.

I haven't given the code a great deal of time when looking at it and would like to say that I think it runs well and does what it should. Please don't take my wish list as a dig in any way. I have programmed dozen of EAs myself and know what is involved. My thanks to the programmer responsible for coding it.
  • #1,005
  • Nov 16, 2007 4:05pm Nov 16, 2007 4:05pm
Quoting currymonster
Nice one! I'll wait for Mike to correct me if I'm wrong, but I believe this is a mechanical system and as such once the orders are running you can leave them run regardless of news etc, that's what I've been doing. However I know some people like to baby the trades in order to minimise losses/maximise wins.

My feeling is that you could leave all the orders run through news without change - this would mean that all results you obtained should be robust, easily reproduceable and can be used as a worst case baseline.

Many people may feel my views are wrong and please let me know if you have better ideas?

Anyway, thanks again mtab!


Cal

The fact is simple. I like to be as lazy as I can be and would prefer not to baby the demos but rather point out when news hit on the results. In the end I will judge for myself as follows:

Which pairs did the best in which time frames?
How much did news affect the results?
Could some pairs have been better if news was avoided?

News can help as much as it hurts so to cut it out may not be needed.
  • #1,006
  • Nov 16, 2007 5:56pm Nov 16, 2007 5:56pm
I'm using the EUR/JPY, EUR/USD, GBP/USD, AUD/USD and the USD/JPY for Daily Pips. My total pfofit with wins and losses for the week of 11/12 through 11/16 with all 5 pairs was +95 pips. The Piazza method EA during the same week produced a total of +125 pips with the GBP/JPY, AUD/JPY and EUR/JPY. We'll see what we have at the end of the month. Paris.
  • #1,007
  • Nov 17, 2007 1:27am Nov 17, 2007 1:27am
Has anyone looked at 3am to 3am with expiration at 10 am, 11am or 5pm?

What about the idea to allow manual entry of High and Low price?
  • #1,008
  • Edited 1:40am Nov 17, 2007 1:29am | Edited 1:40am
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.

Date: Thursday 15 November 2007
EURJPY +95
USDJPY +45
EURUSD +45

Total: +185pips

Comment: Continued probs with the EA not opening one side of the days orders had me take papertrading results even though not entirely accurate.

Date: Friday 16 November 2007
EURJPY +45
USDJPY +45
EURUSD -45

Total: +45pips

Comment: After trying 30 for the UpdateToBE setting and the TS on the 3rd order I'm now reverting back to UpdateToBE:15 and will only use the TS for GBPJPY in future.

Total for week ending Friday 16 November 2007: -32pips


Weekly Results:

Total for week ending Friday 16 November 2007: -32pips
Total for week ending Friday 9 November 2007: +407pips
Total for week ending Friday 2 November 2007: -101pips
Total for week ending Friday 26 October 2007: +415pips
Total for week ending Friday 19 October 2007: +110pips
Total for week ending Friday 12 October 2007: +130pips
Total for week ending Friday 5 October 2007: +288pips
Total for week ending Friday 28 September 2007: +280pips
Total for week ending Friday 21 September 2007: +1050pips
Total for week ending Friday 14 September 2007: -651pips
Total for week ending Friday 7 September 2007: +164pips
Total for week ending Friday 31 August 2007: +585pips

Grand Total: +2630pips


Individual Pair Results:

Daily95pips individual pair results for week ending Friday 16 November 2007:

EURJPY +50
USDJPY +45
EURUSD -127

Total: -32pips

For the past 12 weeks:

EURJPY +1763
USDJPY +333
EURUSD +529

Total: +2625pips

Comment: OK, a negative result for the week. It doesn't happen often so I suppose I can live with the -32pips result. As of next week I will revert back to using UpdateToBE:15 and no TS on all pairs except GBPJPY.
  • #1,009
  • Nov 17, 2007 7:15am Nov 17, 2007 7:15am
mtaboneweb

If it is possible to throw the results into an excel spreadsheet, I would be happy to help you analyze the results. I pretty sure others on the thread would help also....

Tim

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?

  • #1,010
  • Nov 17, 2007 11:22am Nov 17, 2007 11:22am
I have been testing the system on my demo account for four weeks now on GBP\JPY , EUR\JPY ,USD\JPY and GPP\CHF and results are pretty good . In my short experience I have noticed that most of the times the first target of 15 pips is hit even in losing trades .
So , I got an idea to adjust trade size as follows :two lots with tp 15 pips , one lot with tp 30 pips and one with tp 50 pips . Of course , it increases risk ,since at worst scenario the loss would be 105 pips instead of 90 , but if the first target is hit ,which happens in most cases , the risk is pretty rewarding .
What do you think of it ?
Happy pipping
  • #1,011
  • Nov 17, 2007 4:15pm Nov 17, 2007 4:15pm
Quoting tsquad
mtaboneweb

If it is possible to throw the results into an excel spreadsheet, I would be happy to help you analyze the results. I pretty sure others on the thread would help also....

Tim

That would be a great help. I could just throw the results into a spreadsheet and anyone who wanted to could disect the results and give their views on the results. Thank you very much.
  • #1,012
  • Nov 17, 2007 5:57pm Nov 17, 2007 5:57pm
I have spent the last few days reading every single post on this thread. wow! 2630 pips for the month is great. Is anyone trading this live yet? If nto why not? I am going to begin testing this too on my demo account beginning on sunday. I am excited about this. Also, I like the idea of place a double on the first 15 pip profit. I will be checking that out too.

good job to everyone. I will post my results too.
  • #1,013
  • Nov 17, 2007 10:35pm Nov 17, 2007 10:35pm
I have a question in reguards to this trading idea. I have been looking at this for several days now and love the idea of how this works. As yoy have explained pending orders are placed at HIGH +5 and LOW -5, That means if the market goes up and hits HIGH +5 then we now have three long orders on the pair. If the market turns down then we have three pos at risk with a 30 pip stop loss on each. Here is my idea and I am wondering if anyone has thought of this or tested this. Here it goes..... what if the three orders were placed at HIGH +5, HIGH +7 HIGH +9. Then if the market hits the first one and it is triggered then goes down, the risk is only on one pos and NOT all three. If in fact the market is going to go high enought to make a profit of all three for a total of 95 pips, then we would be giving up a couple pips profit. The way I see it is this might be a saft guard that would save a few losses. What do you think and is it possible to back test this idea against the reg 95 pip plan. I would be currious to see if running a back test against this if it would return more pips threw not losing pos.

I am looking forward to hearing what you guys think about this idea. I am going to begin to test this on my demo account as soon as the market opens.
  • #1,014
  • Nov 17, 2007 10:46pm Nov 17, 2007 10:46pm
Quoting gonadoit
I have a question in reguards to this trading idea. I have been looking at this for several days now and love the idea of how this works. As yoy have explained pending orders are placed at HIGH +5 and LOW -5, That means if the market goes up and hits HIGH +5 then we now have three long orders on the pair. If the market turns down then we have three pos at risk with a 30 pip stop loss on each. Here is my idea and I am wondering if anyone has thought of this or tested this. Here it goes..... what if the three orders were placed at HIGH +5, HIGH +7 HIGH +9. Then if the market hits the first one and it is triggered then goes down, the risk is only on one pos and NOT all three. If in fact the market is going to go high enought to make a profit of all three for a total of 95 pips, then we would be giving up a couple pips profit. The way I see it is this might be a saft guard that would save a few losses. What do you think and is it possible to back test this idea against the reg 95 pip plan. I would be currious to see if running a back test against this if it would return more pips threw not losing pos.

I am looking forward to hearing what you guys think about this idea. I am going to begin to test this on my demo account as soon as the market opens.
Good idea gonadoit.
  • #1,015
  • Nov 18, 2007 12:40am Nov 18, 2007 12:40am
Hi guys..
I have gone live with the daily95 using Oanda. Attached is the log file which I use and since it is manual you may noticed that at some point, I may have missed to bring the stop loss to break even.

In a nutshell,here are my results:

Active EUR/JPY 106
Active USD/JPY 225
Active EUR/USD 130
Attached File(s)
File Type: xls Daily95-Nov 12, 2007.xls   56 KB | 767 downloads
  • #1,016
  • Nov 18, 2007 12:43am Nov 18, 2007 12:43am
Hi guys, I am still wondering if anyone could share some light on the EA for the NorthFinance so that it could work according to Mike's Rule.

I hope piphunter could share some light to this issue. Thanks.
  • #1,017
  • Nov 18, 2007 6:21am Nov 18, 2007 6:21am
I have downloaded all the minute by minute tick data and a friend and I are setting up a system to back test this system in MS access for the past 6 six years. We will share the results when we are finished.
  • #1,018
  • Nov 18, 2007 10:48am Nov 18, 2007 10:48am
Endroute.... great idea I am looking forward to your results. May I be so bold as to ask you to test my idea of different entries. (posted above). I am wondering if that is a good strag for protecting funds? Also can someone help me with a really simple question? I have MIG metatrader. Where or how to I get the Highs and Lows to determine how to place my pending orders? I can not seem to locate them anyplace.
  • #1,019
  • Nov 18, 2007 11:29am Nov 18, 2007 11:29am
Quoting gonadoit
Endroute.... great idea I am looking forward to your results. May I be so bold as to ask you to test my idea of different entries. (posted above). I am wondering if that is a good strag for protecting funds? Also can someone help me with a really simple question? I have MIG metatrader. Where or how to I get the Highs and Lows to determine how to place my pending orders? I can not seem to locate them anyplace.
You can use the Spudfibo ind. attached to this thread. Alternatively, I have attached a prev. day hi/lo indicator. Hope this helps!
Attached File(s)
File Type: mq4 PrevDay_HiLo_kelvin.mq4   3 KB | 648 downloads
Within apparent chaos there is order for those who know how to look
  • #1,020
  • Nov 18, 2007 4:58pm Nov 18, 2007 4:58pm
Hi all.

The attached pic illustrates my only remaining concern about the EA.

We can see that the EA doesn't calculate the new orders for the day when the current price ( the price at the time of calculating the orders) is close to the high or low. In this case it is the long orders that have not been calculated.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 21 KB

This pic is for the EURUSD orders for today, Sun-Mon 17-18 Nov.

So I make a humble request for all programmers including Pr1mer and PipHunter to try to collectively rectify this bug because the EA is VERY close to being fully efficient.

rgs
mike:
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