The simple stupid system

Quoting paradoxical

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Only changes I made to the EA are to trade 24 hours and set the entry signal buffer to zero. Everything else left as is. Trading 5 pairs. Interesting that all of the 5 trades made before 7:00 GMT (which is midnight PST), were stopped out at losses. The ones made after that. The ones made and closed after 7:00 GMT are plus 47 pips. There were two losers on EUR/JPY totalling 68 pips included. Also, the 20 pip trailing stop worked perfectly. Have 3 open trades at +29 pips. Will keep the testing going. Seems Wahnone was correct to not do any trades until 7:00 GMT, as all the trades the EA made before then were losers. EA also seems to be working fine. Have to figure out why is only works on my Interbank demo. Maybe because I don't have all of the correct indicators in the other demo accounts with Alpari and WHC?

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Quoting Zen_Leow

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Guys,

for those of you who aren't making trades with my EA, can you take a look at the "journal" tab or "expert" tab below to see if there's any error messages? post them here so I can debug or probably come up with an answer.

One more thing. can I just confirm if you've read the pdf manual I posted with the first EA? you need to read this in order to know how to make use of the settings. if you've read it, you should see this...

LotsDecimalAllowed = 2
If your broker only lets you get as low as mini lots and not to micro, set this to 1.

if your client isn't making trades with my EA, my best guess is you've not changed this setting to 1.
e.g. of mini lot is 0.1
e.g. of micro lot is 0.01
any lot size that needs the 2nd decimal place requires the broker to have micro lot support.

Let's say your broker can only go as low as mini and not micro. and the EA's MoneyManagement algorithm calculated a lot size of 0.32. and the program sends a trade using this lot size. it will be rejected by the broker's server cos of the 0.02 which it doesn't allow.

if you've set the setting to 1, the EA will round up the lot size to 1 decimal point. 0.3, and submit this instead which should go through.
I will write a more in depth manual for the coming versions but there's no point in me writing it if they aren't read and followed...

regards,
Zen
p.s., I think Alpari don't accept micro lots, so the LotsDecimalAllowed setting should be set to 1. InterbankFX allows micro lots so the default setting is ok for IBFX customers.

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Quoting paradoxical

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Soory, Zen. I didn't read that post closely enough. Also, my title on my previous post was incorrect. I looked at the closing of a trade and thought the EA closed it incorrectly. But, the EA closed it correctly at the 20 pip trailing stop from it's previoue high point. That'll teach me to post before I've had my second cup of coffee! VERY, VERY nice EA

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Quoting et_phonehome_2

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This is a crazy question, if it can be answered then it would be the Holy Grail.....

How can one determine if the conditions are met for an entry that there will be enough momentum to drive the price further? If one waits for the crossing of the MAs or any of the other lagging indicators, one can potentially be in a losing position. I know that many systems are also based upon the time of day one trades, this may be true, but what if that time is not possible.

As to when to exit, I would use dynamic support/resistance, and it is always possible that it can go further.

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Quoting Wahnone

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Thanks. I am not concerned about the entry, only the exits give me a concern. You know, in a ranging market, you are bound to fall into a lot of whipsaws, and this system is at its most vulnerable at that time. I wouldn't like letting a winning trade change over and turn to a losing one all in the name of waiting for an exit signal. More suggestions pls...

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Quoting Wahnone

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Hello guys. After some manual backtest, I saw that the main problem with this system is the way it exits the trades. I want you to suggest better exit strategies that can enhance the system. Looking forward to your replies.

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Quoting sed34

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how can i move the arrows over to give earlier entry? I already set it to 1. It doesn't seem to move from 5 to 1 for the qqe sf. what am i'm doing wrong?

i think also the momentum set to 5 gives earlier signals

thanks

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Quoting ashes

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Hi Wahnone,

first thank you for this interesting system.
I have been trading it merely from this monday on, last weekend I've been backtesting it excessively. The last three days it has given me good profit, and of course a few losses.
I'm, trading on 1h timeframe. I'm basically entering with two increments with a 40 sl and with the first increment 40 tp,(1) second 80 tp(2). If tp(1) is hit I move the second increment to breakeven and wait for the second increment to hit tp(2). Of course sl is according to the chart. Most of the time it is 40 pips. If the market appears to be in random moves I tighten the sl to breakeven as soon as the trade is in 20+ field. From here on I'd use a trailing stop of 20. If market appears to be in rhythm I'd use a trailing stop of 40 or wait for tp(2) to be hit.
Since I'm very much inclined to Philip Nel's 4hmacd strategy I try to take trades as trend continuations, according to market rhythm rules. That means I don't take every trade that the indicators offer.
Anyway, I just traded for the last three days, but this is how I've found it to make sense and pips to me.

Thanks again for sharing.

Regards

ashes

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Quoting ingridk

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I'm trading now only on 1H Tf,is being great,no losses yet
I love this system

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Quoting Harry123

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Hey,

After trying various settings for the last 48 hrs or so, my system still cannot pick up any trades. Can someone whose system is doing OK now, post a complete set of indicators used, template, and complete settings on the EA including trading lots. BTW, I am using IBFX for demoing.

Thanks.

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