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High & Low 8 Hours (GBP/JPY)

  • #1,261
  • Dec 11, 2007 1:36am Dec 11, 2007 1:36am
even when given a backtested profitable system people cannot avoid overriding and tampering to their detriment... no offense to anyone
  • #1,262
  • Dec 11, 2007 3:59am Dec 11, 2007 3:59am
Bill

Seems you have been involved in this thread since the first post, so I am hoping you can clarify for me the whole confusion with the time.

I think where people are becoming confused in the time paramenters is understanding they cover the course of 2 days on the GMT calendar.

The time parameters are as follows, if I understand correctly:

Ex. Yesterday Dec. 10/07 at 1800hrs GMT to Today Dec 11/07 at 0200hrs GMT

Is this correct so far?

The low came on the very next hourly bar at 1900hrs GMT and the high on the very last hourly bar of 0200GMT (it was also the high of the previous hourly bar at 0100GMT)

Bill I am sure aswering all the time issure questions is driving you nuts, but thank-you for your help.

PS I assume the trades entered as pending orders after the 0200GMT bar at 0201GMT

Thanks again
  • #1,263
  • Dec 11, 2007 4:08am Dec 11, 2007 4:08am
The time window for GBP/JPY is:

From 18:00 GMT to 01:59 GMT, a total of 8 hours.

02:00 hourly bar is NOT included.

Just after 02:00 GMT you should place your pending orders.
Regards
  • #1,264
  • Edited 6:39am Dec 11, 2007 4:27am | Edited 6:39am
Quoting MarkL
Bill

Seems you have been involved in this thread since the first post, so I am hoping you can clarify for me the whole confusion with the time.

I think where people are becoming confused in the time paramenters is understanding they cover the course of 2 days on the GMT calendar.

The time parameters are as follows, if I understand correctly:

Ex. Yesterday Dec. 10/07 at 1800hrs GMT to Today Dec 11/07 at 0200hrs GMT

Is this correct so far?

The low came on the very next hourly bar at 1900hrs GMT and the high on the very last hourly bar of 0200GMT (it was also the high of the previous hourly bar at 0100GMT)

Bill I am sure aswering all the time issure questions is driving you nuts, but thank-you for your help.

PS I assume the trades entered as pending orders after the 0200GMT bar at 0201GMT

Thanks again

The following GMT bars make up the time window:

1800
1900
2000
2100
2200
2300
0000
0100

This makes up an 8 hour window.
It begins at 1800 and ends the last tick before 0200.

The orders are placed as soon as possible after the completion of the 0100 bar.
  • #1,265
  • Dec 11, 2007 4:54am Dec 11, 2007 4:54am
Quoting billbss
The following GMT bars make up the time window:

1800
1900
2000
2100
2200
2300
0000
0100

This makes up an 8 hour window.
It begins at 1800 and ends the last tick before 0200.

The orders are places as soon as possible after the completion of the 0100 bar.
100% Correct.

BK
  • #1,266
  • Dec 11, 2007 6:16am Dec 11, 2007 6:16am
This is to anyone here with an answer.
If one were to attempt a backtest of this method going back a few years how would the change of daylight savings time be handled? In other words, the daily period separator lines being at 1700 EST on FXDD do change by one hour don't they? If so, what effect does it have on these 'specific times' for this method in the past?
  • #1,267
  • Dec 11, 2007 9:29am Dec 11, 2007 9:29am
My question has to do with a sideways market...
Not sure if it has been asked and covered or if there is really a right answer to it.

Once the 8 hour time window (1800 to 0100) is complete and new highs & lows are established we place our long and short orders accordingly...understood.

My questions is this what if say our long order is triggered and the market then travels sideways with neither the SL or TP target hit, all the way 24hrs later when we are to place the next days new high & low orders?

Now we will have potentially 4 open orders. The previous days open long order, the pending short order and our new days hi/low long & short orders.

I realize this is very unlikely in the GBP/JPY but hey we never know what this market will throw at us. Always need to be prepared.
  • #1,268
  • Dec 11, 2007 9:33am Dec 11, 2007 9:33am
Quoting drayco
This is to anyone here with an answer.
If one were to attempt a backtest of this method going back a few years how would the change of daylight savings time be handled? In other words, the daily period separator lines being at 1700 EST on FXDD do change by one hour don't they? If so, what effect does it have on these 'specific times' for this method in the past?
I don't know about the different platforms.
I use IBFX and it maintains straight GMT time the year around.
  • #1,269
  • Dec 11, 2007 9:34am Dec 11, 2007 9:34am
Quoting MarkL
My question has to do with a sideways market...
Not sure if it has been asked and covered or if there is really a right answer to it.

Once the 8 hour time window (1800 to 0100) is complete and new highs & lows are established we place our long and short orders accordingly...understood.

My questions is this what if say our long order is triggered and the market then travels sideways with neither the SL or TP target hit, all the way 24hrs later when we are to place the next days new high & low orders?

Now we will have potentially 4 open orders. The previous days open long order, the pending short order and our new days hi/low long & short orders.

I realize this is very unlikely in the GBP/JPY but hey we never know what this market will throw at us. Always need to be prepared.

It's Nicotina's system and he has never stated a rule for what you're asking.
I, personally, would close any open trade at 1800 GMT.
  • #1,270
  • Dec 11, 2007 10:03am Dec 11, 2007 10:03am
Quoting MarkL
My question has to do with a sideways market...
Not sure if it has been asked and covered or if there is really a right answer to it.

Once the 8 hour time window (1800 to 0100) is complete and new highs & lows are established we place our long and short orders accordingly...understood.

My questions is this what if say our long order is triggered and the market then travels sideways with neither the SL or TP target hit, all the way 24hrs later when we are to place the next days new high & low orders?

Now we will have potentially 4 open orders. The previous days open long order, the pending short order and our new days hi/low long & short orders.

I realize this is very unlikely in the GBP/JPY but hey we never know what this market will throw at us. Always need to be prepared.
All open positions will be closed at 18:00 GMT in readiness for the new day.
Read page 1 of the thread
Regards
  • #1,271
  • Dec 11, 2007 10:43am Dec 11, 2007 10:43am
Quoting billbss
I don't know about the different platforms.
I use IBFX and it maintains straight GMT time the year around.
Yes, that makes sense to backtest with one that uses GMT. Sure makes the backtested results more trustworhty. Thanks billbss!
  • #1,272
  • Dec 11, 2007 10:56am Dec 11, 2007 10:56am
Quoting drayco
Yes, that makes sense to backtest with one that uses GMT. Sure makes the backtested results more trustworhty. Thanks billbss!
Either way it does not matter so much, strictly looking at the graphs before 2007 and a couple months in between there is not enough volatility for this system to work so backtest won't do you much good. In a continuous trend without many breakouts like it seemed to be before 2007 this system would have not performed well because it would not reach the targets over that time period and a lot of the time if opened order would get stopped out or closed at the end of the day according to the rule the guys above were talking about.
Someone posted a range EA here one of the first threads to backtest I strictly looked at the graphs after doing data analysis and that's what I found.
However, as the market evolves as it has on this pair the breakouts are numerous and fairly large, is why this system has been working, I think...
  • #1,273
  • Dec 11, 2007 12:01pm Dec 11, 2007 12:01pm
Nice & sweet +100

BK
  • #1,274
  • Dec 11, 2007 1:23pm Dec 11, 2007 1:23pm
EJ
Buy -50
Sell +50
Net 0

GJ
Buy -50
Sell +100
Net +50

GU
Buy Did not trigger
Sell +40
Net +40

Today = +90

Thank you Nico for the system and saaedb for the EA!!

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  • #1,275
  • Dec 11, 2007 1:36pm Dec 11, 2007 1:36pm
g/j -100 buy

g/j +100 sell

total 0
  • #1,276
  • Dec 11, 2007 1:38pm Dec 11, 2007 1:38pm
Quoting smurf
g/j -100 buy

g/j +100 sell

total 0
smurf,
How did you lose -100 on the buy, when the SL is 50?

See post#1.
  • #1,277
  • Dec 11, 2007 2:02pm Dec 11, 2007 2:02pm
Bill, you have been using this method for a while, would you care to post your results so far?? Also does anyone also follow the daily 95 pips forums? Is that associated with this?? Also finally, would somebody please post everything there is to know about the EA in 1 post so everyone can have all information. THank you. Happy Pipping
  • #1,278
  • Dec 11, 2007 2:31pm Dec 11, 2007 2:31pm
Quoting freed14
Bill, you have been using this method for a while, would you care to post your results so far?? Also does anyone also follow the daily 95 pips forums? Is that associated with this?? Also finally, would somebody please post everything there is to know about the EA in 1 post so everyone can have all information. THank you. Happy Pipping
I trade it sporadically and have not really tracked my results except that I have won more than I have lost.

I traded it every night when the thread first came out, but I found I usually had to stay up all night doing it.

I don't use an EA.

If I have slept in the afternoon and want to stay up, I trade both the GJ and GU versions.


It is an easy system to manually backtest. It wouldn't take over an hour to go back over a couple of months of charts and see what it did.
  • #1,279
  • Dec 11, 2007 3:25pm Dec 11, 2007 3:25pm
Using the ea for two days, three gj trades. Two at +100, 1 at -50.

+150 so far.

I love the risk\reward ratio. I could lose three trades and still break even. Brilliant.

  • #1,280
  • Dec 11, 2007 3:40pm Dec 11, 2007 3:40pm
Quoting vbro
FX97,

Thanks for sharing your work with us. My question is about time zones. Aaarrrggghhh!!!!!

You ran your tests on Alpari data, and I believe that Alpari's data is GMT +1.

(my MT4 demo is an Alpari account and the time zone is GMT +1)

If you ran your tests on Alpari data, and Alpari data is GMT +1, then your inputs must be set for 1900 to 0300, not 1800 to 0200.

Am I right? And does this mean that your tests are actually for the time period 1700 GMT to 0100 GMT?
Vbro,
Sorry for the delay... I was pretty busy... Anyway, I think your question is valid. This is what I have done:

1) Got 1 minute data from http://www.alpari-idc.com/en/dc/databank.php
2) Imported it to my demo account in North Finance ( it uses GMT+2. So , basically I use 20 and 3 time frame in 1H chart when I run EA to mimic 18:00 -2:00 GMT time)
3) Used period converter script in MT4 to create 1H data
4) Run EA

So, My question to everyone here is If we use alpari data (vbro says it is GMT+1) and use it in North Finance (GMT+2) does MT4 take care of time difference automatically? is it smart enough to figure out that?
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