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Daily95pips

  • #1,941
  • May 13, 2009 3:17pm May 13, 2009 3:17pm
Quoting fugly
thank you very much Nick ! much obliged ....... the results appear to be quite encouraging especially since its over a 5 year period.

I was just wanting to ask you whether you were able to consider the spread in the back test, especially in the case of gj as its normally quite large.

thanks again
The back test does not consider spread but I don't see the spread impact being significant.
The way I view spread is as follows:-
The spread on my spread betting account is 8 pips for gbp/jpy so there are 4 pips either side of the 'target' buy/sell price.
So basically my orders are placed 4 pips early and closed 4 pips late. The spread would only be important when:-
1. My order is filled and price then reverses to stop me out without reaching the target order price (which is 4 pips away)
2. A filled order hits the profit target price but then reverses to be stopped out without hitting the bid/offer price for the progit to be filled (which is 4 pips away)

On these 2 occaisons losses would have occured in real trading but not in the back test.

These will be offset by the opposite happeneing with the stop loss price.

The occaisons above will have happened during the test but they will not be very often. For all other trades the backtest would be as per real trading.

I hope I've made this easy to understand, I beleive I am right although stand to be corrected.

Cheers
Nick
  • #1,942
  • May 14, 2009 4:05pm May 14, 2009 4:05pm
Hi fugly

following your PM please attached optimization report, this shows results for all profit targets from 30 pips (300 on report) to 500 pips (5000 on report) in 10 pip increments

easier to see if you put it in a spreadsheet.

60 target is proftable, however if you can handle a little bit more pain, the rewards were significantly better with targets of 90 pips +. The next significant increase is around the 350 pip mark, however I don't think I could handle the 18 consecutive losses that this presented!!!!!!

Good luck
Attached File(s)
File Type: txt Optimization.txt   11 KB | 1,207 downloads
  • #1,943
  • May 14, 2009 4:36pm May 14, 2009 4:36pm
Just curious, but why did you stop using three target levels??
Vincit qui se vincit.
  • #1,944
  • May 14, 2009 5:47pm May 14, 2009 5:47pm
Quoting PipNick
Hi fugly

following your PM please attached optimization report, this shows results for all profit targets from 30 pips (300 on report) to 500 pips (5000 on report) in 10 pip increments

easier to see if you put it in a spreadsheet.

60 target is proftable, however if you can handle a little bit more pain, the rewards were significantly better with targets of 90 pips +. The next significant increase is around the 350 pip mark, however I don't think I could handle the 18 consecutive losses that this presented!!!!!!

Good luck
thank you very much Nick you've been great !!
  • #1,945
  • May 14, 2009 5:57pm May 14, 2009 5:57pm
Quoting PipNick
Hi fugly

following your PM please attached optimization report, this shows results for all profit targets from 30 pips (300 on report) to 500 pips (5000 on report) in 10 pip increments

easier to see if you put it in a spreadsheet.

60 target is proftable, however if you can handle a little bit more pain, the rewards were significantly better with targets of 90 pips +. The next significant increase is around the 350 pip mark, however I don't think I could handle the 18 consecutive losses that this presented!!!!!!

Good luck
I would like the sound of 300 pips a day that would be amazing!
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  • #1,946
  • May 15, 2009 3:58am May 15, 2009 3:58am
Quoting pipsr4kids
I would like the sound of 300 pips a day that would be amazing!
number of pips per day doesn't say anything about the profitability of the system. You have to consider the reward:risk ratio and max number of losers in a row along with the % of winners to correctly size your position and determine profitability.

But if its pips a day you're after check out Sally's Daily quarter method
  • #1,947
  • May 29, 2009 10:46pm May 29, 2009 10:46pm
Is anyone still successfully using the "Daily 95 Pips" experts? I'm unable to get them to enter trades. I've tested the IBFX version on an IBFX four digit data demo account, and tried other versions on an FXPro demo account that uses 5 digit data. None will enter trades and there are no error messages?

I've been manually trading with success, similar take profit targets, but using the London open with the Asian session as the lookback period for hi-lo.

Any suggestions for a fix on the experts?

Thanks.

LeoM
  • #1,948
  • May 29, 2009 10:54pm May 29, 2009 10:54pm
Quoting Trumpcard
just wondering what brokers you guys are using to trade thio method now that the NFA regulation is in effect? I'm with IBFX and I can't place opposing pending orders and am therefore hunting around for another MT4 broker allowing hedging and which offers mini accounts
I have an IBFX live and demo accounts and haven't had trouble manually placing pending buy-sell trades. Once one is in effect however the "Trade is Disabled" message pops up if I try to enter a hedged trade.

I have had trouble getting the Daily 95 Pips experts to setup and enter trades, however. I've wondered if the hedging rule is the reason. That would explain the IBFX acounts in the US not working but I tested the expert on a European based FXPro (5-digit) demo and it wouldn't enter pending or new trades???

LeoM
  • #1,949
  • May 30, 2009 10:30am May 30, 2009 10:30am
Great Thanks for Sharing it i have found the EA for North Finance. As you know North Finance is now FXPRO.

Daily 95 Pips (North Finance Fall Version).mq4

will it also work on FXPRO?

Regards
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  • #1,950
  • May 31, 2009 8:35am May 31, 2009 8:35am
Quoting PipNick
Yes I'm still trading this or a slight variation. I'm just using a single order on GBP/JPY.
Start time 7am BST
Lookback 24hrs
Target 110
Stop 60

I've backtested it over 5 years on tradestation using 5 minute data and it will make about 40 pips per week.

Its fairly robust for this pair as other parameters work well. Other pairs are also profitable but to a lesser extent.

If you can handle the drawdowns higher profit targets are more profitable, but I'm happy with a conservative setting for now.

There are loads of breakout varations on the...

Hello Pipnick,

I'm totally new with the topic and recently have heared about it from a friend.

I would be appreciate if you kindly attach the latest version of the systems indicators and if it is possible a pdf or something about the systems how to work?


Thank you very much
Mini Trader
  • #1,951
  • Jun 8, 2009 10:10am Jun 8, 2009 10:10am
I guess someone else has also raised this question but I was not able to find an answer.. If anyone can answer this..

How can 2 orders, 1 for buyStop and another for SellStop, be placed on for the same pair for the same account?

Is it still possible after hedging restrictions..

Thanks
  • #1,952
  • Jun 9, 2009 4:16pm Jun 9, 2009 4:16pm
You can place two limit orders at the same time. But you can't have 2 open trades if one is long and the other short... they would cancel each other out. So using this system you need to be aware if your buy and sells overlap. It could happen if the previous days trading had a high/low range of only say 20 pips.
  • #1,953
  • Jun 10, 2009 11:09pm Jun 10, 2009 11:09pm
Pipnick,

thanks for all your work in backtesting the GBPJPY... have you noticed if there were certain time periods when losses were disproportionally high? I'm guessing that this system works very well in a trending market, but less effectively in a ranging(horizontal) market. any comments?
  • #1,954
  • Jun 11, 2009 2:36am Jun 11, 2009 2:36am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Ashish_Ampl
I guess someone else has also raised this question but I was not able to find an answer.. If anyone can answer this..

How can 2 orders, 1 for buyStop and another for SellStop, be placed on for the same pair for the same account?

Is it still possible after hedging restrictions..

Thanks
Not on US based accounts, you can still hedge on UK on other currency accounts - check with your broker as many are offering an option to hold 2 accounts, then trade one long and one short, it balances out in the end.
  • #1,955
  • Jun 16, 2009 3:56pm Jun 16, 2009 3:56pm
Quoting borborygmi
Pipnick,

thanks for all your work in backtesting the GBPJPY... have you noticed if there were certain time periods when losses were disproportionally high? I'm guessing that this system works very well in a trending market, but less effectively in a ranging(horizontal) market. any comments?
borborygmi,

This is an interesting question. I haven't noticed anything realated to time or trending / ranging markets. Given the volatility of the pair and the 110 pip price target, i'm not sure this would be significant, however I haven't looked too closely.

However, I have noticed that since December, buy orders have been far more profitable than sell orders. Since the end of January we have been in an uptrend (daily chart) therefore there could be somthing in this. More analysis required at some point!!!!
  • #1,956
  • Jun 16, 2009 8:47pm Jun 16, 2009 8:47pm
I have read of lot of the threads and would like to try this EA, but can not find the EA itself.
Gary
  • #1,957
  • Jun 18, 2009 9:39am Jun 18, 2009 9:39am
Can someone explain to me just how having a Buy standing order and a Sell standing order in the same currency, the triggering of one cancelling the other, is a Hedge trade. Will close all of my US Fx accounts because of this nonsense.
Vincit qui se vincit.
  • #1,958
  • Nov 6, 2009 10:15pm Nov 6, 2009 10:15pm
Even in US accounts, one can have pending (limit) orders in opposite direction on same instrument (currency pair). Example : Oanda

Its having open orders in opposite directions where hedging reg kicks in
  • #1,959
  • Nov 9, 2009 7:03am Nov 9, 2009 7:03am
Have anyone tested this system on GBP / JPY ?

Thks...
  • #1,960
  • Nov 17, 2009 12:25am Nov 17, 2009 12:25am
Is this thread still alive or is it just us newcomers?

I need some help in deciding which EA to use and how to get it working. I do know what EAs are, I do know how to load them and how to initialise them. I just cannot get D95P working.

I'd be grateful for some help.
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