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Daily95pips

  • #1,321
  • Dec 15, 2007 3:12am Dec 15, 2007 3:12am
Quoting giraia_br
Mike, do you still running a IBFX version?

i got only bad results running it. I hope someone fix the problems with it to works exataly like your method.
Giraia,

The results I'm posting are from a NF demo.

rgs
mike
  • #1,322
  • Dec 15, 2007 5:31am Dec 15, 2007 5:31am
I think this is a fantatsic system with very good potential, thanks to mikelath for starting the thread and mtaboneweb for the on going detailed analysis. This is very useful and I think this is defintaely something to plough on with as previoulsy stated. The results are not shabby at all.

For those interested....
I have been testing the system manually as per page 1 with the following rules:-
1. Look back period 24hrs
2. Start time 8am GMT
3. Move 3rd order to b/e when TP2 hit
4. The first day I didn't cancel the opposite order but since then I have been

Here are my results
Sum of Net PipsPairDateEUR/JPYGBP/USD(blank)Grand Total28/11/200795510029/11/200700030/11/2007959519003/12/200745-90-4504/12/200745-90-4505/12/20070959506/12/2007-4545007/12/2007954514010/12/2007959519011/12/2007-900-9012/12/2007-9095513/12/20070-45-4514/12/2007-459550(blank)Grand Total200345545

Very early days, but 40 pips a day from 2 pairs is v good.
Good performance from GBP/USD which is interesting as this didn't give good results with the parameters used by Mikelath.
Perhaps there is something in my thoughts on post 1267. Time will tell.

Good luck all
  • #1,323
  • Dec 15, 2007 5:35am Dec 15, 2007 5:35am
sorry here are the results
http://www.forexfactory.com/C:\Docum...op\results.bmp
Attached Image
  • #1,324
  • Dec 15, 2007 3:29pm Dec 15, 2007 3:29pm
Quoting PipNick
I think this is a fantatsic system with very good potential, thanks to mikelath for starting the thread and mtaboneweb for the on going detailed analysis. This is very useful and I think this is defintaely something to plough on with as previoulsy stated. The results are not shabby at all.

For those interested....
I have been testing the system manually as per page 1 with the following rules:-
1. Look back period 24hrs
2. Start time 8am GMT
3. Move 3rd order to b/e when TP2 hit
4. The first day I didn't cancel the opposite order but since then I have been

Here are my results
Sum of Net PipsPairDateEUR/JPYGBP/USD(blank)Grand Total28/11/200795510029/11/200700030/11/2007959519003/12/200745-90-4504/12/200745-90-4505/12/20070959506/12/2007-4545007/12/2007954514010/12/2007959519011/12/2007-900-9012/12/2007-9095513/12/20070-45-4514/12/2007-459550(blank)Grand Total200345545

Very early days, but 40 pips a day from 2 pairs is v good.
Good performance from GBP/USD which is interesting as this didn't give good results with the parameters used by Mikelath.
Perhaps there is something in my thoughts on post 1267. Time will tell.

Good luck all
Hi PipNick.

Very interesting results, particularly on GBPUSD which I axed very early from my initial list of 6 pairs. This goes to show that adjusting the parameters slightly can make a significant difference to the results. It's great to get such feedback.

mike
  • #1,325
  • Dec 15, 2007 6:16pm Dec 15, 2007 6:16pm
I've been reading for the past several weeks emphasis on tweaking EA, which is fine. Those of us who don't mess with the EA possibilities are at a loss.

Also, I've the sense some are applying different rules into Mike's original.

What say we all share the different variations of Mike's rules & what works & what doesn't & try to put together a system format which works.

The results here are impressive. I've been trading on a demo, but in real time, for the past several weeks & got miffed a couple of weeks ago....so did the EA's

This thread shows what this forum is all about....Mike puts up the idea & everyone contributes & the system evolves from there. So, I propose that we circle the wagons, put forth what we've got, sort through it all, get everyone on the same page, and then turn everyone loose to get this system even better.

Thanks to you Mikelath & mtaboneweb especially, but the contributors on this thread....just really impressive. Good work everyone!
  • #1,326
  • Dec 16, 2007 5:23am Dec 16, 2007 5:23am
Hi,

As a novice can i ask what may seem foolish to yourselves but not to me at this stage. This system is based on a set & forget basis eg set at time of trade , then leave and come back later hopefully with a bag of pips. So after setting the trades can i then turn off my PC + EA ? If so on returning and switching back on the PC + EA will all calculations (profit totals) be inserted correctly ?

Thanks
  • #1,327
  • Dec 16, 2007 11:41am Dec 16, 2007 11:41am
You have to leave it running. It is set and forget because the EA does all the work for you. The EA is not only responsible for setting the pending orders but many other things as well...

Once a set of pending orders are triggered the EA closes the opposite orders. If the buys are triggered then it closes the pending sells or vice versa.

Once the first 15 pips is achieved and that order closes at it's take profit then the EA moves the other 2 orders to break even on their stop loss.

If you have trailing stop enabled then the EA manages resetting the stop loss as the last trade moves.

All of these things would have to be done manually if it weren't for the MetaTrader platform and the custom EA that has been written to manage all of this for us. Each time a chart is updated (tick) then the EA runs it's logic and does what is supposed to happen if anything at all at that point. If the software isn't running and the chart isn't open and the EA isn't attached then the system cant to anything with the orders it placed. Dozens of people ask this same question on nearly every thread here. If you set your alarm clock and then unplug it will it go off when it's supposed to? An alarm clock ticks throughout the day each time determining if it need to sound the alarm every second that passes. It will not do it's thing if it's not powered on and EAs are the same way. The broker does not do the work for you and when you set something like this up the logic behind the EA is not stored someplace magically and continues to run for you even after you close the software. It requires that everything be in place and running, period.

Quoting nightpipper
Hi,

As a novice can i ask what may seem foolish to yourselves but not to me at this stage. This system is based on a set & forget basis eg set at time of trade , then leave and come back later hopefully with a bag of pips. So after setting the trades can i then turn off my PC + EA ? If so on returning and switching back on the PC + EA will all calculations (profit totals) be inserted correctly ?

Thanks
  • #1,328
  • Dec 16, 2007 11:58am Dec 16, 2007 11:58am
Hi

I have been trying the system and had some variable results. I have several questions. First, I have some outstanding results that are sometimes cancelled by losses. Should I change my stoploss to a lower number?
Secondly, I am currently using the reverse IBX system. Is that the best one at present or should I but using another version? If so where can I download it.

Thank you for your help.
  • #1,329
  • Dec 16, 2007 3:44pm Dec 16, 2007 3:44pm
Quoting lsterling
Hi

I have been trying the system and had some variable results. I have several questions. First, I have some outstanding results that are sometimes cancelled by losses. Should I change my stoploss to a lower number?
Secondly, I am currently using the reverse IBX system. Is that the best one at present or should I but using another version? If so where can I download it.

Thank you for your help.

for you guys john w has posted his system on the holy grail found thread.... maybe you guys may want to read it..... it may help you perfect YOUR daily 95 system... eg john w has a tp of only 20 pips and he uses s/r levels and buy stop orders only.... if you read his thread and skunnys new thread you may have better success with less stress... just my 2 cents.... also nicotina has a great breakout strategy as well.... which could be adjusted with john w's iinsights.... anyway merry holiday to all good luck
  • #1,330
  • Dec 16, 2007 11:14pm Dec 16, 2007 11:14pm
Quoting dagoods
for you guys john w has posted his system on the holy grail found thread.... maybe you guys may want to read it..... it may help you perfect YOUR daily 95 system... eg john w has a tp of only 20 pips and he uses s/r levels and buy stop orders only.... if you read his thread and skunnys new thread you may have better success with less stress... just my 2 cents.... also nicotina has a great breakout strategy as well.... which could be adjusted with john w's iinsights.... anyway merry holiday to all good luck

For mike:
This is one of the most valuable system i have tested.

For everyone in this thread:
I have concluded that the system would work more accurate if price is not ranging on larger TF's, hence we have to look at the higher timeframes to make sure that we are in a correct trend.
Always remember that this system only works on trends, NOT SIDEWAYS, because in a sideway condition, price always bounce at support and resistance, before a breakout.
Consequently, always beware when currencies are on sideways on the higher timeframes. To help this, always draw trend lines for the higher TF's.
Just My 2 cents
  • #1,331
  • Dec 17, 2007 2:15am Dec 17, 2007 2:15am
Just curious and 1300 plus replies is too many to filter through...can anyone tell me is there is an EA for this method, and if so provide me with a link to it?? Thank you in advance

I actually just went to the attachments page and found 119 attachments in this thread. Any idea which EA is used for MT4 using the standard accounts as a feed??
  • #1,332
  • Dec 17, 2007 4:04pm Dec 17, 2007 4:04pm
Quoting Colostarr
Just curious and 1300 plus replies is too many to filter through...can anyone tell me is there is an EA for this method, and if so provide me with a link to it?? Thank you in advance

I actually just went to the attachments page and found 119 attachments in this thread. Any idea which EA is used for MT4 using the standard accounts as a feed??
Hi Colostarr.

Go the attachments page and scroll down to Nov 3. There will be 5 EA's to choose from corresponding to 5 different MT4 brokers.

rgs
mike:
  • #1,333
  • Edited Dec 18, 2007 2:50pm Dec 17, 2007 4:09pm | Edited Dec 18, 2007 2:50pm
Daily95pips:

Date: Monday 17 December 2007
EURJPY -90
USDJPY nt
EURUSD +45

Total: -45pips

Comment: Utsahan nishchaya dhairyat....sanskrit for enthusiasm, perseverence and patience.

Date: Tuesday 18 December 2007
EURJPY +15
USDJPY -90
EURUSD nt

Total: -75pips

Comment: Historically, minor drawdowns like the above have proven insignificant as the strategy has continued to remain in profit over a longer timeframe.
  • #1,334
  • Dec 17, 2007 4:13pm Dec 17, 2007 4:13pm
Quoting mikelath
Daily95pips:

Date: Monday 17 December 2007
EURJPY -90
USDJPY nt
EURUSD +45

Total: -45pips

Comment: Utsahan nishchaya dhairyat....sanskrit for enthusiasm, perseverence and patience.
Mikelath,

I use IBFX.

No trades triggered today. 2 of the 3 pairs - highs were to close and EA did not set trade for long trades. In any event, nothing triggered that remained.
  • #1,335
  • Dec 17, 2007 5:52pm Dec 17, 2007 5:52pm
Quoting mikelath
Daily95pips:

Date: Monday 17 December 2007
EURJPY -90
USDJPY nt
EURUSD +45

Total: -45pips

Comment: Utsahan nishchaya dhairyat....sanskrit for enthusiasm, perseverence and patience.
nice to see eur/usd got triggered and bank in some pips. Just wanna ask how your third TPing 50 pips got stopped out? SL @ BE? or trailing STOP? If it was trailing stop, how many pips did u set for TS?
  • #1,336
  • Dec 18, 2007 5:11am Dec 18, 2007 5:11am
Quoting hijackxx@hotmai
nice to see eur/usd got triggered and bank in some pips. Just wanna ask how your third TPing 50 pips got stopped out? SL @ BE? or trailing STOP? If it was trailing stop, how many pips did u set for TS?
SL @ BE.
  • #1,337
  • Dec 18, 2007 5:24am Dec 18, 2007 5:24am
Quoting petero
I've been reading for the past several weeks emphasis on tweaking EA, which is fine. Those of us who don't mess with the EA possibilities are at a loss.

Also, I've the sense some are applying different rules into Mike's original.

What say we all share the different variations of Mike's rules & what works & what doesn't & try to put together a system format which works.

The results here are impressive. I've been trading on a demo, but in real time, for the past several weeks & got miffed a couple of weeks ago....so did the EA's

This thread shows what this forum is all about....Mike puts up the idea & everyone contributes & the system evolves from there. So, I propose that we circle the wagons, put forth what we've got, sort through it all, get everyone on the same page, and then turn everyone loose to get this system even better.

Thanks to you Mikelath & mtaboneweb especially, but the contributors on this thread....just really impressive. Good work everyone!
Petro - I completely agree with this. Mike has kicked off the thread and others are doing their own research, developing ea's, throwing ideas around, etc. Exactly how a forum should be.

Lets all keep working together. At some point I am confident we will have the blueprint of a consistantly profitable system.
  • #1,338
  • Dec 18, 2007 5:26am Dec 18, 2007 5:26am
Quoting PipNick
Petro - I completely agree with this. Mike has kicked off the thread and others are doing their own research, developing ea's, throwing ideas around, etc. Exactly how a forum should be.

Lets all keep working together. At some point I am confident we will have the blueprint of a consistantly profitable system.
correction - i think we already have the blueprint (Mike's original post) - we are now just looking to prove and fine tune.
  • #1,339
  • Dec 19, 2007 6:08am Dec 19, 2007 6:08am
Mike.
I think the header of your post #1333 should be:
"Results for week ending Friday 21 December 2007".

Good luck!
  • #1,340
  • Edited 3:41pm Dec 19, 2007 9:12am | Edited 3:41pm
Please: IGNORE THIS MESSAGE.
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