High & Low 8 Hours (GBP/JPY)

Quoting saaedb

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Answers:

4) If you have the BreakEven Set at 30 and the TrailingStop at 50. Now when the price moves the 30 pips in your favor, the Breakeven will move the stop to breakeven. And from here when price move each pip above 50, the stop will move one step up.

Hope this helps.

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Quoting cesarnc

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Hey guys,

I just made a backtest and the results are in the attached file.

Unfortunately, the initially proposed setting (50 pips SL / re-enter) has shown not to be consistently profitable in the period of Jun to Nov 2007.

There are potential errors associated with the EA execution, but as far as I could see, the orders were executed properly.

It will be nice to confront other people's (more importantly nicotina's) backtest in order to check on possible mistakes.

The 100 pip SL / no re-enter has shown to be consistently profitable, though. This is what I'm using lately.

*** This is open for debate yet. Results must be validated by a number of traders here so we can get into a conclusion together.

I can send the detailed reports (Mt4's) from each month if wanted. Please let me know.

*** If I've made some sort of grotesque mistake, I apologize in advance. Doing it fast, so we can start discussing it better with a broader view on the strategy.

César

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Quoting Fx97

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Saaedb,
Thanks... Yes, I do have your latest EA ( actually it is not the one that you included MinRange. I did not use it yet just to see how existing one will perform). And, I did see anyone else reporting that either.

Additionally, do you have any feedback for my fifth question in previous post?

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Quoting razr13

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I am sorry to bother you but I have been trading a simular breakout strategy by hand since May 2007 using the Eagle Breakout Indicator on my charts with a range from 19:00 pm EST(Eastern Canada) / 00:00 GMT(Tokyo Open) to 02:00 am EST / 07:00 GMT(Europe and London) on the USD/JPY, GBP/USD, and EUR/JPY. I have been net positive each month on a part time basis as I have job with swing shifts which limits my ability to enter trades every day. When I came across this thread and your EA I thought I would see if I could adapt it to my trade strategy. I have loaded it on all three charts.
A couple questions:
1- Do I need to modify the magic number for each chart or leave as is.
2- Can this run on a live trade account and if so do I have to imput the account number in place of the magic number.
3- I am running on IBFX and would appreciate any comments from anyone using your EA.

Thanks in advance.

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Quoting Fx97

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How about this one;
Say SL=50 TP=100 BreakEven= 60 TrailingStop=75

Move 1) Price fills my order @ 230.00 ( SL=229.50, TP=231.00)

Move 2) moves 10 pips in my favor (Price=230.10), then moves all the way down to 229.50. Question: Is it going to close the order or not since trailing stop is 75 and it went up to 230.10, therefore new SL is 229.25? (my understanding is it will not close and new SL is at 229.25)

Move 3) Now it moves up to 230.60 ( assuming that it did not close the order in move2). Question: Is new stop loss @ 230.00 or @ 229.85 (my understanding is it will be at 229.85)?

Having Trailing stop value set to some number will automatically eliminate TP from the the system, am I right?

I do not know if those questions seems like soo details to you, but I especially care for back testing and finding the better configurations and of course to better understand the logic behind the EA.

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Quoting fxnewb

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I am using North Finance mini demo account. The EA settings are RangeStart=20, RangeEnd=3, IsAccountMini=true, and default settings for others.

Thanks for your help.

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Quoting saaedb

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I'm looking into it

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Quoting razr13

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Hello again;

I did not get a fill with the EA even though I have a Happy Face and I also checked "Allow Live Trading" under the Metatrader Tools/Options folder.

I had the EA on the Eur/Jpy chart with range hours from 1700 to 2300 for testing purposes.

I keep getting an alert that says "Attach this chart to H1"

Any suggestions as to what I did wrong.

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Quoting razr13

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Hello:

I have a question regarding time frames. Are the times all 24 hr GMT and also how would you imput 00:00 GMT. Just place 0 or 00.

Also what is the range buffer do?

Regards

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Quoting saaedb

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Ok, I looked into the NorthFinance trading station and figured out why it is giving the 131 error. I use IBFX and they allow mico lots, that is, the smallest lot size allowed is 0.01. Where as NorthFinance only allows 0.1.

I've added another parameter to the EA called "MinLotSizeAllowed". The default value is 0.01. If you broker doesn't allow 0.01 lot sizes, please set this to what ever is the smallest lot size allowed. For Northfinance, set it to 0.1 and this should take care of the 131 error. And for the other very popular error, 4109, plese make sure you have Enabled the checkbox "Allow live trading" in the expert properties.

Another way to deal with the 131 error would be to set the moneymanagement to false and set the FixedLot size to what ever you want the EA to trade.

Let me know how this works for you guys
saaedb

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Quoting fxnewb

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Thanks Saaedb, you are great!
I set moneymanagement=false and bingo..orders placed.

Regards

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Quoting Mister ED

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Great work and it backs up my results.

I have been manually back testing this system for the past 2 years data.

Over the longer period it does work. However I agree that there are some months with drawdowns (5 out of 24). This year has been twice as profitable for me as last year.

I have however adjusted the SL to 105 pips and the TP to 75 pips (using a 10 pip spread). This has given me a 64% success rate in 2006, av profit 45.6 av loss 53.1 and 69% success rate in 2007 with av profit 63.8 and av loss 69.2.

Purists may not appreciate the -ve risk:reward, but the figures work out.

Interestingly last year Friday was the best day and Monday was the worst, this year the start of the week was great and Friday sucked!!!

I am therefore live on a very small account but it has been successful so far.

The beauty for me is that I can set and forget the trade as I am in Canada and set it at 10PM Atlantic time and then check it in the morning. This removes all the psychological stress of trading for me. If I can proove the system works and it is up to date then surely it will give the results.

Sorry for the long post but sometimes I think threads get over complicated and people become unrealistic in their expectations. Just give it time!

Mister ED

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