"White collar crime deserves a blue collar beating!" - 8fingers
EOD -1 day hold 213 replies
Easy Stress-Free EOD Trading 21 replies
EOD System 19 replies
Best EOD strategy 5 replies
The meaning of EOD? 3 replies
DislikedAs I said in the PM to you; and for the benefit of anyone else that reads this post, you don't need the heiken ashi sw: just put the ea on the chart with the other indicators (atr pips, cci, stoch and EOD IND) and all should be ok.
Gray.Ignored
DislikedUnderstood. And if you didn't take the first signal for whatever reason, do you then take the second?Ignored
DislikedHi All
I am continuing my backtesting to try and break the basic system. However I have failed to break it so far and have had good results from this year so far. I am convinced that the retracements occur on almost every signal and so should be utilised to maximise the system.
I have been looking at the retracement entry and it certainly helps with reducing the losses and maximizing the profits. You miss a couple of trades per year with each pair but that is offset by the better performance.
It also helps because I can place the orders and...Ignored
DislikedHi Mister ED,
I agree. There is almost always some "overlap" or retracement of price back into the daily range of an entry day. It would be to great advantage to be able to enter at a better price than at the top or bottom of the candle.
I would like to pick your brain here a little, if you would be so generous:
Are the numbers you show above percent retracements from the top/bottom of the signal candle? Or are they pips?
How did you arrive at these numbers? Fib retracements, or from your visual backtesting?
Do you suggest waiting...Ignored
DislikedHi Pistol Dave
These figures are in pips. I worked them out by visual backtesting for the last year's data. I calculated the maximum retracement from the entry point during the following 2 days after the signal. I then put all this into a spreadsheet and worked out roughly how far the I could retrace without loosing too many signals.
As these have been done by visual backtesting the data is based on the completed signals that I have on the screen. I am using MT4 which is on a GMT+1 server I believe (this shouldn't make too much difference I...Ignored
QuoteDislikedWhen the signal candle has closed I would then immediately place 2 limit orders for each trade. The first I would close at TP1 for which I am using the ATR(5) and the second order I would use a trailing SL based on the previous days low/high (depending on whether you are short or long).
DislikedHi Pistol Dave
"Do I have any numbers on how much more this will add to the profit on each trade? "
The amount of extra profit depends on the pair that is being traded.
The retracement entries that I use are the following:
EJ 30
EU 35
GCHF 30
GJ 50
GU 50
NU 20
UCHF 20
UJ 40
I am splitting my normal lot size into 2 parts to get the two parts of the trade so that I am not over extending mysel as far as money management is concerned. Therefore with an EJ trade I would expect to make an extra 60 pips if the trade hit the TP1, or would lose...Ignored
DislikedI have backtested current live trades according to IBFX and what I consider the swing high/low for the stop. They are:
Sell GbpUsd
Buy EurGBP
Buy EurJpy
Sell UsdCad
Sell UsdJpy = failed Friday
for 2007 and 2008 here are the wins out of total
GbpUsd = 20 wins out of 34 = 59%
UsdJpy = 28 wins out of 40 = 70%
EurJpy = 22 wins out of 30 = 73%
UsdCad = 24 wins out of 40 = 60%
This data was based on the daily close prices and getting in at that rate. IBFX closes at 00:00GMT or currently 7pm est. I have yet to do EurGBP backtesting.
I also...Ignored