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High & Low 8 Hours (GBP/JPY)

  • #1,281
  • Dec 11, 2007 6:17pm Dec 11, 2007 6:17pm
Quoting Sir Larry
What happens when you try a break even stop at +55 with sl of 50 and tp of 100? All the sl=75; tp=75 don't work as well as others.

Thanks.
Sir Larry,
I did run 50/100 case with breakeven of 55 abd the results was +15K. It is not better than any other cases I reported
  • #1,282
  • Dec 11, 2007 6:24pm Dec 11, 2007 6:24pm
Quoting Fx97
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?
Bring it up on a chart and see if it figured it out.
  • #1,283
  • Dec 11, 2007 6:25pm Dec 11, 2007 6:25pm
Quoting sertio
Hello FX97. it would be interesting to run a test of TP 50 and SL 50. Also if it is possible can you run a backtest for the last 2 years

I am planning to run more when I gain my trust for EA through daily demo trading. On the other hand anyone el\se can run backtest it is really easy. Here is the link with so many useful information, look under tutorials

http://www.forexmt4.com/
  • #1,284
  • Dec 11, 2007 6:27pm Dec 11, 2007 6:27pm
Quoting billbss
Bring it up on a chart and see if it figured it out.
I know but the question is since I have already imported data from Alpari into my MT4, MT4's original data anymore
  • #1,285
  • Dec 11, 2007 6:32pm Dec 11, 2007 6:32pm
Quoting bassmouth
Pardon me please if the information is already in your chart and I am too ignorant to decipher it, but:

On run 10, if the 50 pip stop got hit, did the system stop trading for the night? YES

If so, did the system still only trade the same number of lots as in the other runs, where the stops and potential losses were larger? SAME NUMBER OF LOTS

If so, could you run those parameters and increase the lots placed at risk, and thereby the total profit, because only 50 pips were at risk each night? WILL TRY TO LOOK AT THAT

Thanks, Greg
Greg,
See my responses in red
  • #1,286
  • Dec 11, 2007 6:35pm Dec 11, 2007 6:35pm
Quoting Colostarr
If you haven't already read about it...another system to check out is the squeeze method. I just nabbed 35 pips waiting using that method as I was waiting for the buy to trigger!! Should have left it open...but hey 35 pips in the bank is 35 pips in the bank!!
Colostarr,
What is squeeze method? is there any thread for it? Can you give some details about it? Just curious to learn some other methods
  • #1,287
  • Dec 11, 2007 7:27pm Dec 11, 2007 7:27pm
Quoting Fx97
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?
Fx97,

Since my last post, I have had Alpari's customer service tell me that they are indeed GMT+1, so their data will reflect that time zone setting.


Also, FYI, their data is GMT+1/BST+1. This means that:

if we assume that you are sitting in an office in London, and if you look at your wrist watch, we will call this time "London Time".

The date is 13th July and the market has just opened
Chart time is 00:00
CET is 00:00
BST is 23:00 (12th July)
GMT is 22:00 (12th July)
London time is 23:00
The first candle draw in the chart will be "2007.07.13 00:00" - it will start to be draw at 00:00 and be completed at 01:00 (chart time)

The date is 10th December and the market has just opened
Chart time is 00:00
CET is 00:00
GMT is 23:00 (9th December)
London time is 23:00
The first candle draw in the chart will be "2007.12.10 00:00" - it will start to be draw at 00:00 and be completed at 01:00 (chart time)



As Bill says, if you bring up a new 1Hr chart, you will have a look at candles for North. Then, run a shorter test (a couple days) on your Alpari data. Then compare the two charts. See what MT4 does.


Thanks again for your efforts.

VBro
  • #1,288
  • Dec 11, 2007 7:49pm Dec 11, 2007 7:49pm
I am going to demo this system and see if it will fit in with my trading style.

Entered my firt trade today.

Long at 228.18
Short at 224.77

100 pip TP & 50 pip SL
  • #1,289
  • Dec 11, 2007 7:56pm Dec 11, 2007 7:56pm
BUY STOP 228.18
SELL STOP 224.80

-Johan K
  • #1,290
  • Dec 11, 2007 8:05pm Dec 11, 2007 8:05pm
Quoting vbro
Fx97,

Since my last post, I have had Alpari's customer service tell me that they are indeed GMT+1, so their data will reflect that time zone setting.


Also, FYI, their data is GMT+1/BST+1. This means that:

if we assume that you are sitting in an office in London, and if you look at your wrist watch, we will call this time "London Time".

The date is 13th July and the market has just opened
Chart time is 00:00
CET is 00:00
BST is 23:00 (12th July)
GMT is 22:00 (12th July)
London time is 23:00
The first candle draw in the chart will be "2007.07.13 00:00" - it will start to be draw at 00:00 and be completed at 01:00 (chart time)

The date is 10th December and the market has just opened
Chart time is 00:00
CET is 00:00
GMT is 23:00 (9th December)
London time is 23:00
The first candle draw in the chart will be "2007.12.10 00:00" - it will start to be draw at 00:00 and be completed at 01:00 (chart time)



As Bill says, if you bring up a new 1Hr chart, you will have a look at candles for North. Then, run a shorter test (a couple days) on your Alpari data. Then compare the two charts. See what MT4 does.


Thanks again for your efforts.

VBro
VBro,
This history data is *.hst file and I have no idea about its format. What I was expecting is when I imported this file into my MT4 platform (North Finance), the platform is smart enough to convert data's time frame into its time frame (maybe one line that says data's time frame). If anyone can confirm that, that's fine. Otherwise, I need to clarify manually. Hopefully coming weekend.
  • #1,291
  • Dec 11, 2007 8:47pm Dec 11, 2007 8:47pm
Here you go....The Squeeze method" Another very powerful tool. Thanks to GCTrader and FXHermit for making the MT4 indicators. The indicators are all over the forum, let me know if you need any help finding them!
http://www.forexfactory.com/showthread.php?t=57426
Quoting Fx97
Colostarr,
What is squeeze method? is there any thread for it? Can you give some details about it? Just curious to learn some other methods
  • #1,292
  • Dec 11, 2007 9:03pm Dec 11, 2007 9:03pm
Quoting MarkL
I am going to demo this system and see if it will fit in with my trading style.

Entered my firt trade today.

Long at 228.18
Short at 224.77

100 pip TP & 50 pip SL

For GBPJPY:

High = 228.06 (1900 bar)
Low = 224.76 (2100 bar)

Given the large range for today, I reduced my TP to 50 pips (SL remains 50). I believe Nico supports this lower TP for days with large ranges.

billbss - is this correct?

Pavatar
  • #1,293
  • Dec 11, 2007 9:14pm Dec 11, 2007 9:14pm
Can someone post the EA for this method? I tried looking but my connection is so slow it gets aggravating waiting for each page to load. I would like to test the EA in my demo. Right now I trade this method manually in my live account, but I would like to see how it works! Thank you in advance!
  • #1,294
  • Dec 11, 2007 9:22pm Dec 11, 2007 9:22pm
Quoting Colostarr
Can someone post the EA for this method? I tried looking but my connection is so slow it gets aggravating waiting for each page to load. I would like to test the EA in my demo. Right now I trade this method manually in my live account, but I would like to see how it works! Thank you in advance!

EA developed by saaebd

Pavatar
Attached File(s)
File Type: ex4 NicoTinaBreakOut.ex4   25 KB | 388 downloads
  • #1,295
  • Dec 11, 2007 10:30pm Dec 11, 2007 10:30pm
Quoting Colostarr
Here you go....The Squeeze method" Another very powerful tool. Thanks to GCTrader and FXHermit for making the MT4 indicators. The indicators are all over the forum, let me know if you need any help finding them!
http://www.forexfactory.com/showthread.php?t=57426

Thanks I started reading it... Appreciated
  • #1,296
  • Dec 11, 2007 11:16pm Dec 11, 2007 11:16pm
Got the EA into my MT4 demo. Now do I just leave it alone and let it run or are there any parameter changes that I need to make. Like how many lots it will open and so forth?
Quoting Pavatar
EA developed by saaebd

Pavatar
  • #1,297
  • Dec 11, 2007 11:35pm Dec 11, 2007 11:35pm
Hello Nico guys,

Can u see what the EA is saying? It says the range is too big for a trade. Does that mean there wont be a trade on that pair today?
  • #1,298
  • Edited 12:57am Dec 12, 2007 12:46am | Edited 12:57am
I would say because the "max range" is set to 300 pips. The move from high to low was 327 pips. My EA isn't saying that, but then again..I just added it today and have no idea how it works. When I try to change the Max Range, the change doesn't stay and reverts back to 300. Can anybody explain this? Kolly Jay, i would also say that if it doesn't hit you can always set buy and sell stops at these prices! Also, EA says "Nicotina EA removed" Why does it say that??
Quoting Kolly-Jay
Hello Nico guys,

Can u see what the EA is saying? It says the range is too big for a trade. Does that mean there wont be a trade on that pair today?
  • #1,299
  • Dec 12, 2007 1:08am Dec 12, 2007 1:08am
Quoting Pavatar
For GBPJPY:

High = 228.06 (1900 bar)
Low = 224.76 (2100 bar)

Given the large range for today, I reduced my TP to 50 pips (SL remains 50). I believe Nico supports this lower TP for days with large ranges.

billbss - is this correct?

Pavatar

i would prefer to stay sidelined on a large range day like today.imho.
  • #1,300
  • Dec 12, 2007 3:43am Dec 12, 2007 3:43am
Quoting Kolly-Jay
Hello Nico guys,

Can u see what the EA is saying? It says the range is too big for a trade. Does that mean there wont be a trade on that pair today?

You can change the max/min range size in the parameters of the EA. The default is 300. There are several places in the thread where range size is discussed - primarily to answer the question what does 'large' specifically mean. Opinions have varied from just over 100 to 300 plus. Some folks choose not to trade during periods where range is 'large'.

I believe Nico's opinion during days with 'large' hi/lo ranges was to trade small lots and reduce the TP to 50 which is what I do. Some of the backtest results have varied this parameter but as far as I know, there hasn't been any specific number coming out of those tests to help answer the question about how large is 'large'!

Pavatar
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