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High & Low 8 Hours (GBP/JPY)

  • #1,821
  • Dec 30, 2007 6:15pm Dec 30, 2007 6:15pm
Quoting SteveHopwood
I have done my best to answer your questions below. Others will help out if I am wrong. I do recommend reading the thread thoroughly - this helps a lot although it is hard work.

Thank You.
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  • #1,822
  • Edited 6:52pm Dec 30, 2007 6:17pm | Edited 6:52pm
.
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  • #1,823
  • Dec 30, 2007 6:55pm Dec 30, 2007 6:55pm
Quoting Oksana17
Thank You.
Hey, we are talking elsewhere as well.

  • #1,824
  • Dec 30, 2007 7:03pm Dec 30, 2007 7:03pm
I coded an EA for this method, on NorthFinance platform time. Here is the EA backtest results for the whole 2007 year. Tell me if there was a mistake.

Graph and results, a positive for the year but only pocketed 500 pips. What's wrong?

50stop
100limit
exit at end of day
if loss, then entered same direction
Attached Image (click to enlarge)
Click to Enlarge Name: Graph.gif Size: 8 KB
Attached File(s)
File Type: txt Results.txt   55 KB | 656 downloads
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  • #1,825
  • Dec 30, 2007 7:03pm Dec 30, 2007 7:03pm
Quoting SteveHopwood
Hey, we are talking elsewhere as well.

Yup, that's funny.
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  • #1,826
  • Dec 30, 2007 8:05pm Dec 30, 2007 8:05pm
Hi All Brothers,

Today is it suitable for trading using NICO system ?
  • #1,827
  • Dec 30, 2007 8:08pm Dec 30, 2007 8:08pm
What is the NICO stand for?
Did u look at the #1824 post that I posted?
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  • #1,828
  • Dec 30, 2007 8:43pm Dec 30, 2007 8:43pm
Quoting tjsun80
Hi All Brothers,and sisters

Today is it suitable for trading using NICO system ?

...
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  • #1,829
  • Dec 30, 2007 9:04pm Dec 30, 2007 9:04pm
Quoting SteveHopwood
I think the following are the settings used by everyone here. I know the GJ settings are correct, as they are the ones set out in Nico's original posting and issued as defaults with saaedb's ea. I have used them live, with success. The settings for GJ and EJ are still a bit experimental, but they have been doing well on the demo accounts.

The RangeStart and RangeEnd settings might need changing, according to your broker's time. I am lucky in that my broker is on GMT, as I am so I do not have to deal with that complication.

GJ
SL: 50
TP: 100
RangeStart: 18
RangeEnd: 2
MaxRange: 300

EJ
SL: 40
TP: 40
RangeStart: 21
RangeEnd: 5
MaxRange: 80

GU
SL: 40
TP: 40
RangeStart: 23
RangeEnd: 7
MaxRange: 80


are these settings correct?
what are the optimal settings
I'm using FXDD Mini account does anyone know how we can make it work according to GMT?
Thanks
  • #1,830
  • Dec 30, 2007 10:26pm Dec 30, 2007 10:26pm
All having new year holidays and i dont think is suitable for trading GBPJPY.
Seems no movement at all !!

Quoting Oksana17
...
  • #1,831
  • Dec 31, 2007 3:04am Dec 31, 2007 3:04am
Quoting Oksana17
I coded an EA for this method, on NorthFinance platform time. Here is the EA backtest results for the whole 2007 year. Tell me if there was a mistake.

Graph and results, a positive for the year but only pocketed 500 pips. What's wrong?

50stop
100limit
exit at end of day
if loss, then entered same direction
Your December results show -200 odd pips where live trading results posted on this board have achieved considerable profit with the GBP/JPY pair for the same period, which highlights how useless backtesting is in some cases. Were you using 90% modeling quality?
  • #1,832
  • Dec 31, 2007 3:06am Dec 31, 2007 3:06am
Quoting m7mad.a
are these settings correct?
what are the optimal settings
I'm using FXDD Mini account does anyone know how we can make it work according to GMT?
Thanks
FXDD = GMT +2 -adjust accordingly.
  • #1,833
  • Dec 31, 2007 6:42am Dec 31, 2007 6:42am
Greetings,

I've tried to read as much of the thread as possible, and I'm not sure where the following is mentioned about the Close End of Day Candle in the EA settings file.

Should the CloseEndofDayCandle=19 (always) or should that value be adjusted to another value using the GMT Broker Time?

Regards,
Sam
  • #1,834
  • Dec 31, 2007 7:24am Dec 31, 2007 7:24am
Quoting Samantha
Greetings,

I've tried to read as much of the thread as possible, and I'm not sure where the following is mentioned about the Close End of Day Candle in the EA settings file.

Should the CloseEndofDayCandle=19 (always) or should that value be adjusted to another value using the GMT Broker Time?

Regards,
Sam
I am fairly sure that the CloseEndofDayCandle setting, is the number of hours after first sending the pending orders that all EA trades are closed\cancelled. This means you do not have to change it even if you have to adjust the broker time.

Saeedb will contradict me if this is wrong.

  • #1,835
  • Dec 31, 2007 7:45am Dec 31, 2007 7:45am
Quoting Samantha
Greetings,

I've tried to read as much of the thread as possible, and I'm not sure where the following is mentioned about the Close End of Day Candle in the EA settings file.

Should the CloseEndofDayCandle=19 (always) or should that value be adjusted to another value using the GMT Broker Time?

Regards,
Sam
Set this according to your broker. This is the time (your broker time) in Hour when you want the EA to close all the open/pending orders.
  • #1,836
  • Dec 31, 2007 9:26am Dec 31, 2007 9:26am
Quoting saaedb
I've got other stuff that I need to take care of, so I'm going to paste the images a little prematurely and you guys can follow it from there.

I dont use many indicators in my trading, if I do use any, its just MACD and thats for looking out for divergence. I purely trade the price action.

Today, I looked at the Daily EURUSD chart and noticed it had fallan down and raised up quite a bit (% of its fall). Then I looked at the GBPUSD pair, and saw it had fallen down quite a bit as well, infact alot more then the EURUSD pair but it had not gone up as much as the EURUSD pair (in terms of % rise compared to its fall). We have some reversal candles on the Daily chart, some reversal consolidation on the H4 chart over the last week and a push towards the upside. I took my Long position on this pair (GBPUSD) yesterday. There was another long oppertunity today. The market was pointing towards the upside and the pair had made a very tight range on the hourly chart. If I had decided to take another trade, I would have taken a long trade had the market broken out towards the up side for an intra day play.

(I didn't take this trade, coz I already have 4 positions on the EURUSD pair and 1 on EURJPY and 1 on GBPUSD. 6 is the max # of trades I have on my this account at any given day, unless all 6 have their stop loss set to breakeven or better )

I'm swing trading this, but it was a nice little setup for a intra day trade.

I'm attaching the screen shots

P.S: My long entry is based of the H4 and Daily charts, thats why you see my SL a little far and my TP quite a bit out there (you can see them on the daily chart pic)

P.S: I currently positions on the EURUSD pair, I didn't want to reveal them that is why I'm using the EURUSD chart from a MIG demo account.

Hope this helps you guys see such setups for intra day trading in the future.

Saaedb

This is the continuation to my this post (where i posted my GBPYUSD Trade).
Today the price hit the Resistance area that I had drawn on my post. And I took a profit of 50% on the trade and am letting the remaining trade run. From here on wards, even if the price hits my SL, I still end up on top. Now I'm going to let it run and scale out of my position at different levels.

I hope this was a little help full to some of you. Coz I know, my trading really kicked off when I saw someone else trading.

Saaedb
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd_h4.gif Size: 19 KB
  • #1,837
  • Dec 31, 2007 9:40am Dec 31, 2007 9:40am
I wasn't planning on taking any more trades till next year. But there was a nice setup on the EURJPY and I've taken the trade. I've taken the current screen shot. If I can document it all the way, I'll post it regardless of it being a winner or a loser.
I am going to be going on a world trip for a vacation and it will take me a few months till I get back. But if I can manage to document my trades on my trip. I'll certainly post them.

Saaedb
  • #1,838
  • Dec 31, 2007 9:42am Dec 31, 2007 9:42am
Quoting saaedb
I wasn't planning on taking any more trades till next year. But there was a nice setup on the EURJPY and I've taken the trade. I've taken the current screen shot. If I can document it all the way, I'll post it regardless of it being a winner or a loser.
I am going to be going on a world trip for a vacation and it will take me a few months till I get back. But if I can manage to document my trades on my trip. I'll certainly post them.

Saaedb
I bet I am not the only one to really appreciate all this saaedb. Cheers.

  • #1,839
  • Dec 31, 2007 10:14am Dec 31, 2007 10:14am
G/J
Buy: -50
Sell. +100
Still a good day on Nic system
  • #1,840
  • Dec 31, 2007 10:15am Dec 31, 2007 10:15am
I mean G/Y
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