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1 trade a day

  • #381
  • May 16, 2009 5:09am May 16, 2009 5:09am
Quoting stevecartwright
a simple script which will draw the high and low onto a chart. Its a "SCRIPT" so goes in the experts/script folder, its not an indicator or expert. You may have to change the hour setting manually, not difficult and I could change/add teh 10pip line if anyone is interested. Just a starter

yea, really good for me if you would add the 10 pips code lines. would you?
  • #382
  • May 16, 2009 6:17am May 16, 2009 6:17am
here is an indicator thats shows the Asian session plus the 10 pip over and under the high low

You can set this to anything in the 'inputs 'tab

GM shift I have as 0
Start 0
End 8

Looks good and has the +10 high low lines projected forward

cheers

Paulus
Attached Image (click to enlarge)
Click to Enlarge Name: ant-gubreak.gif Size: 15 KB
Attached File(s)
File Type: ex4 ant-GUBreakout_V.0.4.1.ex4   13 KB | 560 downloads
  • #383
  • May 16, 2009 6:33am May 16, 2009 6:33am
Hi Paulus,
Do you mind posting the source rather than the .exe. please
Steve

Quoting Paulus
here is an indicator thats shows the Asian session plus the 10 pip over and under the high low

You can set this to anything in the 'inputs 'tab

GM shift I have as 0
Start 0
End 8

Looks good and has the +10 high low lines projected forward

cheers

Paulus
  • #384
  • May 16, 2009 8:06am May 16, 2009 8:06am
Quoting Paulus
here is an indicator thats shows the Asian session plus the 10 pip over and under the high low

You can set this to anything in the 'inputs 'tab

GM shift I have as 0
Start 0
End 8

Looks good and has the +10 high low lines projected forward

cheers

Paulus

Hi Paulus,

I think the "End" value must be 7 and not 8.

Cos if you use 8, then 9 bars are counted as in the figure you have shown.
And the asian session lasts for 8 hours.

Please correct me if I am wrong on this.
  • #385
  • May 16, 2009 10:02am May 16, 2009 10:02am
I thought I had this.
I believe London opens @ 06:00 GMT. Currently UK is on Bristish Summer Time GMT+1 . My server is 2 hours in front of BST so London Open is 09:00 server. The Hi Lo should be x bars upto the hour before i.e. 08:00,
x = length of hours Asian Market is open. If opens @ 01:00 server time then bars =7. If Asian is 8 hours long then open is 00:00.
You cannot use the bar that is the London opening bar.

I am using FXDD server.
Steve



Quoting deedeed
Hi Paulus,

I think the "End" value must be 7 and not 8.

Cos if you use 8, then 9 bars are counted as in the figure you have shown.
And the asian session lasts for 8 hours.

Please correct me if I am wrong on this.
  • #386
  • May 16, 2009 10:18am May 16, 2009 10:18am
tokyo session if from 9 am till 5 pm tokyo hour.8 hours, 8 candles. tell Rastaman, he lives in tokyo.
  • #387
  • May 16, 2009 12:17pm May 16, 2009 12:17pm
Hi Matte,
Doesn't matter to much where he lives. I wanted to correlate London GMT to Tokyo start/end. 8 candles is correct though bar at start 090:00 ends at bar 16:00.
Script with +/- 10 pips for you.
Steve

Quoting matte
tokyo session if from 9 am till 5 pm tokyo hour.8 hours, 8 candles. tell Rastaman, he lives in tokyo.
Attached File(s)
File Type: mq4 SMC DayTrading.mq4   2 KB | 362 downloads
  • #388
  • May 16, 2009 12:43pm May 16, 2009 12:43pm
Tokyo is 8 hours in front of UK British Summer Time and 9 hours in front of GMT. My calcs would agree with deedeed. I still can't determine what is the correct open time for London 06:00 or 08:00 as I have seen on "babypips.com" I always thought it was 06:00.
Steve

Quoting deedeed
Hi Paulus,

I think the "End" value must be 7 and not 8.

Cos if you use 8, then 9 bars are counted as in the figure you have shown.
And the asian session lasts for 8 hours.

Please correct me if I am wrong on this.
  • #389
  • May 16, 2009 1:21pm May 16, 2009 1:21pm
Has anyone considered there is an overlap between the Asia market times and London?
Steve
  • #390
  • May 16, 2009 1:56pm May 16, 2009 1:56pm
Hello,

I'm not sure where to set the stop loss. Is it the 0.00 line or 10 pips below/above?
  • #391
  • May 16, 2009 2:09pm May 16, 2009 2:09pm
Quoting MCFly
Hello,

I'm not sure where to set the stop loss. Is it the 0.00 line or 10 pips below/above?
10 pips above/below
  • #392
  • May 16, 2009 2:20pm May 16, 2009 2:20pm
Quoting datugman
10 pips above/below
Thx
  • #393
  • May 16, 2009 9:07pm May 16, 2009 9:07pm
if anybody wants to keep testing the euro feel free, i've given up on it.

back test for EUR/USD to beginning of november '08 results gives -296 pips.

back test for EUR/JPY to beginning of october '08 gives 102 pips.

edit: just to be clear, i think for trading the london session this can still be a great way to help choose or confirm an entry point, but you will definitely need other techniques to manage your s/l and t/p instead of the mechanical method that is so easily used on the gbp pairs.
Attached File(s)
File Type: xls euro fail.xls   15 KB | 304 downloads
  • #394
  • May 17, 2009 5:11am May 17, 2009 5:11am
I would generally agree about TP/SL. I am looking at swing points to manage Stops.
Did you do anything with GBP/USD & GBP/JPY
Steve

Quoting datugman
if anybody wants to keep testing the euro feel free, i've given up on it.

back test for EUR/USD to beginning of november '08 results gives -296 pips.

back test for EUR/JPY to beginning of october '08 gives 102 pips.

edit: just to be clear, i think for trading the london session this can still be a great way to help choose or confirm an entry point, but you will definitely need other techniques to manage your s/l and t/p instead of the mechanical method that is so easily used on the gbp pairs.
  • #395
  • May 17, 2009 5:35am May 17, 2009 5:35am
Quoting stevecartwright
I would generally agree about TP/SL. I am looking at swing points to manage Stops....
Steve I'd second that. This system is very promising, but in my opinion it possibly needs a tweak on the S/L management side of things. Also has anyone tested the difference in results between taking 100% T/P at 1.618 instead of 50% and not chancing the other 50%?.
All good though.. I very much like this idea/system.
Cheers

Steve
  • #396
  • May 17, 2009 7:18am May 17, 2009 7:18am
The backtest from March to current date doesn't look so good. It's only recently that good pips are made.
Attached Image (click to enlarge)
Click to Enlarge Name: gubreakout.gif Size: 44 KB
  • #397
  • May 17, 2009 9:30am May 17, 2009 9:30am
Quoting ahbinn
The backtest from March to current date doesn't look so good. It's only recently that good pips are made.
hi!
please backtest this..
first like paulus says enter at +5 pips sl at the other side out half at 161,8 and other half at 200% with stop at breackeven
scond: full take profit at 161,8%
3: same as first but SL, if we go short at +10 pips on 618 fibo if long at -10pips from 618 fibo
4: same as 3+2

am i clear?
  • #398
  • May 17, 2009 11:03am May 17, 2009 11:03am
Quoting pattinatore
hi!
please backtest this..
first like paulus says enter at +5 pips sl at the other side out half at 161,8 and other half at 200% with stop at breackeven
scond: full take profit at 161,8%
3: same as first but SL, if we go short at +10 pips on 618 fibo if long at -10pips from 618 fibo
4: same as 3+2

am i clear?
my backtest is the second one and closed all trades at end of day
  • #399
  • May 17, 2009 11:30am May 17, 2009 11:30am
Quoting ahbinn
my backtest is the second one and closed all trades at end of day
ok, can u try also the other two? for compare the results and see what was the better tp
  • #400
  • May 17, 2009 12:41pm May 17, 2009 12:41pm
this is an hourly chart not 1 or 5min..we have to give it room to breath if it doesnt we will just keep getting busted out of a trade.

We cant take 20pips whilst using a full range hi lo SL of 80 odd pips believe me you just wont make money.

We need a stop that will allow the trade to breath and a method of locking in some profits the remainder of which we bring to break even untill we hit another higher or lower TP

To use a none lag ma and ma a stochastic Psar williams RSI or another other type of price based indicator wont work..

What will work I think is level that across the industry are looked at and traded around amonst many the golden ratio of 0.618 and 1.618 is one of them for stop swing high lows or high of day and low of day are also looked at ..

I think you will be hard pushed to find a better combination

Trading 2 lots on each of the 3 swaps last wek would of made you many $k not bad for one trade a day.

just my thoughts

Paulus
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