DislikedThanks nanningbob. Your answers helped me a lot.
I don't mean to bombard you with lots of questions, but I believe you have an awesome system here and I want to test it with you. Understanding comes first.
I hope everyone appreciates how much trial and error you have saved them. You have given us a jump start into a profitable system.
I realize that the last 4 or 5 days have been extraordinary in the size of the moves in the USD pairs, so these results will not occur very often. But it shows us what your system can do under these unusual conditions, so it is a good test.
Attached is my results so far.
I also want to point out that there is not any large floating loss waiting to be closed like most systems like this.
And also note the 75/25 profit/loss ratio and max drawdown of only 2.6%.
I have not had anything go against me more than 4 levels so far at any time that I have been able to watch it in action. So the risk has been very low.
Again, I'm aware that this is unusual and can't be expected all the time but it sure is a great start!
Here's the strategy I have tried so far:
I am not closing all the trades every day like you are. I am looking at the daily trend on a pair first and if it is up for instance, then I look at the 4H trend. If the 4H is moving up too then I will leave the EA trading live on that pair. I will watch it and when the 4H shows clear signs of going against the daily I will stop the EA and close all open positions on that pair and wait until the two time frames start to move in the same direction again.
I'm aware that the last few days have seen several pairs in strong directional moves so that may be skewing the results a lot. Still everything looks good. No surprises. Just excellent results!
Please comment on that strategy I mentioned if you have tried it.
I also think your method of starting your trades before the start of the Asian session and checking for profits at intervals during the day, then ending the day flat is good too. It reduces risk, and you have already shown that is the main issue we have to deal with.
Actually I have never liked the idea of just turning on an EA and letting it trade for me, but this one is much more "hands on" than the others I have tried and it seems more appealing as a real way to make money from the markets.
Please take a look at the account view here in the zip file:
(The screenshots of the account details are just the bottom part of the page but they show all the information you need to see. ie; Starting account balance, Closed P/L, Floating P/L, and all the drawdown, P/L ratios, etc. on the second screenshot.)
PDIgnored