Frosty's Daily Trades - 100/40 1D EA method

Took $900 in profit yesterday (with a cost of $25) and bought my wife something nice

Very Nice Job sir!

$900 of pure unadulterated profit!

congrats!!

Hi guys,

if the EA send a signal that the first trade is 200-300 pips in the red, would that help you better maange the EA?

If we set up the EA to do that then it wouldn't be entering the profitable currency trades.

no, the EA will do what it needs to do. It will just send a signal when the first trade is in the red by 200-300 pips.

It's just a simple way to kind of warn you a 'death' trade is in the making. Instead of you chekcing in from time to time

I know what you mean. I actually upload the current stats to my site every 5 minutes so I can constantly check what is going on with my account. I have the phone number for IBFX in my phone so if things go really bad, I can always call. What I will be doing while I'm gone is using the settings on my bastard EA.

The Bastard EA is a heavily modified version of the 100/40. It still works the same way, it just has more options (too many probably). I'm attempting to perfect it so that it will successfully kill off 'death trades'. I've found that it's almost impossible. The best way to stop a death trade is to not enter the market in a bad spot in the first place. I've added a 'don't enter if ATR is at a certain point' too. This lowers the profits a bit but gives a higher % of successful trades. Heck, I'll go ahead and toss it in this post. Most people will miss it anyway, but for folks like bob, they may be interested and may be able to give some even more good ideas to perfect this awesome 100/40 idea.

By default, it acts EXACTLY the same way as the standard 100/40.
The 'kill death trades' (when set to true) basically closes all trades IF:
1. a set number of trades have been entered already
2. the hourly AWE score is going in the opposite direction of the trades.

Ive found that this is imperfect at best. It seems from testing so far that using the ATR to stop the EA from opening new trades during volatile periods works best. Anyway, here it is, mostly for testing purposes only.

Are you sidelined for the Banking holiday? Guess I'll wait till Tuesday for my Frosty Fix! lol

Nope, sorry, just woke up. If you take a look at the charts I upload every 5 min (even while I sleep!) you will see that I've banked about $60 tonight but I'm currently running around -$110 thanks to the GBP. It's starting to make some bigger moves and if it doesn't move my way in the next hour, I'm killing it.

OK, I didn't like the way things were going so I closed everything down. Took a hit, but it's all part of it. I'm going to take a day or two off from trading this week. I'm rather busy and don't have the time to focus on watching the charts. I'll still keep posting though

GBPUSD bastard took me out

Went from 1700 to $800. at least i'm down only -200 on original deposit

I'm taking gbpusd out.

right now i'm trading
eurchf
eurusd
eurgbp
chfjpy
usdjpy

not sure if i should add a usd pair

Down at around -$400 Draw Down at the moment...

gbpusd has given me the most trouble. It survived the last 8 levels, but not today. Every other pair on my list did good on average of 5 levels.

is your dd due to gbpusd?

Was the GBPJPY. I held on, stopped watching, had draw down in the $500's and I let it ride. Just made a profit from it. Now I have a $100 DD going the other way with it, ha! I'm trusting the numbers, trusting the retrace right now.

I understand now Good idea.

The one minor/minor pair that works well is the AUD/NZD. I have been testing it and like what is does on the 60/45. Very profitable with that EA.

Frosty looks likes it time to take your second 900 dollar profit

Well, I didn't say how MUCH profit! You can look at the graph / live stats from the link on the front page. I'm back up over $2,000 again (where I started basically). But of course, I have already banked the $900, so I'm still WAY ahead for the month.

i'm just wondering if you guys tried using different pips/take profit for each pair.

I'm using 3*atr(100) for pips/take profit. I just think it fits well for that particular currency in measuring volatility/retracement size. Any thoughts?

....and thank you for keeping the live data. You and Bob have given me the confidence (well, the results on my demo help too lol) to go live with this system. should be running a week from Monday.