Daily95pips

Hi Mike
As the tittle says, i have a question that is driving me mad... Why we enter a buy position with HIGH + 5 instead LOW -5? If we enter a BUY we expect a rising rate so, if we enter at HIGH levels rate will be much difficult to achieve profits.
Otherwise maybe i didn't get the point.
Tony

Hey all,

I haven't been vocal here in a while but I wanted to share the EA that I've been working on. Anyone who would like to test/try it is more than welcome to do so. It's called "DailyHighLow_AutoTrader" and can be found here...

http://www.forexfactory.com/showthread.php?t=96862

I know there will be questions so please ask them on that thread. I feel it will do most of what people here have been doing and maybe even more. It's been a while since I've read the posts here and I'm kind of behind.

I am confused about the Friday trades. It has been said that we trade 10pm GMT which is 5pm Central Time ( where i live). But markets are closed on Friday at this time...
What am i missing here??

I started trading this EA on a demo account a few weeks ago. Overall, the results have been mixed. I have now stopped testing the EA for the following reasons :-

a) There appear to be some bugs in the EA eg double trades, move to BE not working all the time, cancel opposite orders not always working.

b) The results showed considerable volatility even in a short space of time. This would suggest profit being heavily reliant upon time in the cycle and hence risky ie potential for large drawdown.

c) The original key developer and contributors to this EA don't seem around anymore. This raises a red flag.

That said ... I spent a good deal of time reading through the entire thread, testing etc. However, this is clearly only a fraction of the time spent on this by the originators of the theory, EA developers and early testers. If indeed the EA has proven unviable, this is a huge shame.

Sincere thanks and respect to all involved. If I am right that this EA has not fulfilled everyone's expectations, I hope this will not deter others from working on new strategies. On the contrary, the lesson we can all take from this is how long it takes to prove a winning strategy, the amount of work involved and the caution required prior to trading live.

Cav

CAV,

Agreed with all said but this is the way alot of threads end up and die. This was another death by EA, lack of success or indifference. This EA either was great or totally stunk all within the same day. Not consistent. Maybe this post will spur those to come out of the woodwork and tout how great the EA and method is, would be, could be or should have been....who knows...another one bites the dust.....there is always an opportunity for someone to post and ask where the latest EA is..... so I guess in reality the thread is allowed to never really die.

I've posted a new version of the EA which should solve the problem of trades not being opened. Please feel free to try it if you like.

DailyHighLow (EA - MTaboneWeb)

350 pips last night using my EA here.

DailyHighLow (EA - MTaboneWeb)

Check post # 28 for settings.

Hi mikelath,

I would like to know if you are still trading this strategy?

Thanks.

I'm using Daily95pips FXDD Fall Version
EURUSD and EURUSD according to the rules on post1.
GBPJPY according to naranjoe setting (post #1456)

Date Monday 28 July 2008

EURJPY +15
EURUSD -90
GBPJPY -180

Total: -255 pips

are you trading manually or with an EA?????????

I've been trading it "old school" per post #1 on USDJPY only, manually with no EA. Performance has been OK.

Post #1 only mentions USDJPY as the main pair to trade this; the other pairs mentioned were going to be studied further.

EA

Date Monday 28 July 2008

EURJPY +15
EURUSD -90
GBPJPY -180

Total: -255 pips


Date Tuesday 29 July 2008

EURJPY -90
EURUSD +95
GBPJPY -180

Total: -175 pips

Date Monday 28 July 2008

EURJPY +15
EURUSD -90
GBPJPY -180

Total: -255 pips


Date Tuesday 29 July 2008

EURJPY -90
EURUSD +95
GBPJPY -180

Total: -175 pips



Date Tuesday 30 July 2008

EURJPY +15
EURUSD -90
GBPJPY -180

Total: -255 pips

Have not been trading this method very much, but when I do I look back 24 hrs from London open and trade a break of H or L of 6 pips on E/U with SL 25, B/E at 20, TP1 20, TP2 30, and TP3 55. I pull unfilled orders after 18 hrs. Also trade GBP/JPY with naranjoe's settings. Have had modest results with both pairs. This is not trading advice. Just the way I have traded this. I am uneasy using EAs to trade, and it is impractical for me to trade this manually.

Date Monday 28 July 2008

EURJPY +15
EURUSD -90
GBPJPY -180

Total: -255 pips


Date Tuesday 29 July 2008

EURJPY -90
EURUSD +95
GBPJPY -180

Total: -175 pips



Date Tuesday 30 July 2008

EURJPY +15
EURUSD -90
GBPJPY -180

Total: -255 pips



Date Tuesday 31 July 2008

EURJPY -90
EURUSD +15
GBPJPY -180

Total: -255 pips

Do you have any rules before deciding that you do trade this mehod?

Hello,
maybe someone else already asked it, but would it be possible to modify the EA to open different lots for the three targets? I mean, for example: 1 lot for 1st target, 0.7 for 2nd, 0.5 for 3rd..

Thanks a lot.

Date Monday 28 July 2008

EURJPY +15
EURUSD -90
GBPJPY -180

Total: -255 pips


Date Tuesday 29 July 2008

EURJPY -90
EURUSD +95
GBPJPY -180

Total: -175 pips



Date Wedensday 30 July 2008

EURJPY +15
EURUSD -90
GBPJPY -180

Total: -255 pips



Date Thursday 31 July 2008

EURJPY -90
EURUSD +15
GBPJPY -180

Total: -255 pips


Date Friday 1 August 2008
(NFP)

EURJPY +95
EURUSD +15
GBPJPY +230

Total: +340 pips



Total for the week = -600


Weekly results for each pair:
EURJPY = -55
EURUSD = -55
GBPJPY=-490

Has anyone run this EA through backtesting for more than a year? Perhaps someone would be kind enough to direct me to some strategy tester reports?