Zebulon, now short @ 1.6600..so better put the TP @ 1.6550 or just let it move without TP? .. i've set SL @ 1.6650.
- #327
- Dec 3, 2009 1:21pm Dec 3, 2009 1:21pm
- | Joined Mar 2007 | Status: Market Profile + Order Flow = Edge. | 92 Posts
i' m short like you at 1.6600 and only a SL at 1.6650...
waiting downtrend.....
I have read through this excellent thread and am impressed with your work here. I seek your assistance with clarifying the entry rules. Could you confirm that once the two previous candles have achieved a range of 50 pips each (drawn green if bullish, red if bearish) you enter the trade. Thank you.
forexnetworth
www.forexnetworth.blogspot.com
- #328
- Dec 3, 2009 1:59pm Dec 3, 2009 1:59pm
i have done a simular study 1 year ago.
counting the daily candles ... up up down up down up up up up down up... finally somebody wrote an EA
it did work one month, the other not and so on
counting the daily candles ... up up down up down up up up up down up... finally somebody wrote an EA
it did work one month, the other not and so on
Follow the Trend, thats all
- #331
- Edited 3:11pm Dec 3, 2009 2:49pm | Edited 3:11pm
- Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts
hi zebulon,
i've made ea to backtest this 50 pips candle strategy. i can't get good result, maybe there is something wrong with the buy/sell logic that i use in this ea?
stephen
First let me thank you for the effort to create the EA and share it with us.
I think it will help us to test several scenarios and see if this technique has any merit. By the way, the EA works great. Working with zebulon's method I noticed a couple of things that I would appreciate if you can add in your EA (but with a flag to use or not use them):
1. A flag that when is on the EA takes only one range trade and then trades again when there is a trend. For example after a GRG the EA takes a short trade but then it stops and waits for GG or RR to make the next trade.
2. A flag that when profit hits a certain pip number the EA takes profit and waits for next signal. For example, we have set the flag to 100 pips and we get GGGG, the EA would take right away 100 pips profit and wait for next signal.
3. A feature to allow more than a lot trading. So if we are in a trend with 3 lots the EA takes profit for 1 lot at 50 pips, then second lot at 100 pip and third lot at 150 pips.
I am not a programmer but I would guess from the above 1,2 may be faster to incorporate in your EA and I thank you in advance
if you decide to help us with this.Kostas.
hi everybody,
First, thanks a lot for all of you who were involved in this thread and had spended time to understand, to backtest and inprove this system.
Some of you manage to create an EA and it seems this EA is working well, according to the system rules. ( i'm not the good one to say that because i 'm ignoramus with EA !
)
Then it could be a perfect tool to test the system and its future evolution.
Yes an evolution is necessary, because it seems the EA tell us this system is good since April, but not before.
I believe only what i see, and i saw personally, trading live, that the system is good since august, bringing pips every month.
Backtesting manually is very long and difficult, so i'm happy to find here in forex factory, people who come to help each other, whatever the result is.
So i will propose you in the next posts, a different way to use the same system, a money management which allows to increase the results, and backtests since august which are very very promissing
.
I've been working on this evolution for 1 month, so i would like you to test it only in demo, until our friends who are EA specialist will say us : go !!!
First, thanks a lot for all of you who were involved in this thread and had spended time to understand, to backtest and inprove this system.
Some of you manage to create an EA and it seems this EA is working well, according to the system rules. ( i'm not the good one to say that because i 'm ignoramus with EA !
)Then it could be a perfect tool to test the system and its future evolution.
Yes an evolution is necessary, because it seems the EA tell us this system is good since April, but not before.
I believe only what i see, and i saw personally, trading live, that the system is good since august, bringing pips every month.
Backtesting manually is very long and difficult, so i'm happy to find here in forex factory, people who come to help each other, whatever the result is.
So i will propose you in the next posts, a different way to use the same system, a money management which allows to increase the results, and backtests since august which are very very promissing
.I've been working on this evolution for 1 month, so i would like you to test it only in demo, until our friends who are EA specialist will say us : go !!!
The method is supposed to work in trending market and in ranging market.
So, when does it not work ?
Usually, we win a lot when there is a big trend or a big range.
In other case, we win 50, and we loss 50, we win 50 and we loss 50 and so on.
In december we have RGRGGGGRGGGRRR
or +-++--+-+
Notice that it is very rare to have 3 or 4 consecutive -(loss) not only in december...
because the price always goes finally in a trend or in a range. But it's possible to loose many pips on the way.
So the new rule is to apply a litte martingale at the system :
We play with 1 lot, at the first loss, we play with 2 lots, if we loose again, we play with 4 lots. If we loose 3 times consecutivelly, we start again with 1 lot.
Because martingale must be limited, too dangerous without limit.
You will see that evolution increase the result a lot.
december :
normal = 50-50+50+50-50-50+50-50+50 = 50
evolution = 50-50+100+50-50-100+200-50+100 = 250
Thanks in advance to all of you who are able to test it with an EA and tell us what are the results with this evolution before august.
try it and good trades
So, when does it not work ?
Usually, we win a lot when there is a big trend or a big range.
In other case, we win 50, and we loss 50, we win 50 and we loss 50 and so on.
In december we have RGRGGGGRGGGRRR
or +-++--+-+
Notice that it is very rare to have 3 or 4 consecutive -(loss) not only in december...
because the price always goes finally in a trend or in a range. But it's possible to loose many pips on the way.
So the new rule is to apply a litte martingale at the system :
We play with 1 lot, at the first loss, we play with 2 lots, if we loose again, we play with 4 lots. If we loose 3 times consecutivelly, we start again with 1 lot.
Because martingale must be limited, too dangerous without limit.
You will see that evolution increase the result a lot.
december :
normal = 50-50+50+50-50-50+50-50+50 = 50
evolution = 50-50+100+50-50-100+200-50+100 = 250
Thanks in advance to all of you who are able to test it with an EA and tell us what are the results with this evolution before august.
try it and good trades
