when the price moves enuf to trigger an entry, but then reverses before hitting the first target, it's a "fake-out" that results in a loss ... Cain says to double your stake on the opposite move to recoup that loss, and that almost always works ... so what do you think of this logic: if the first trade loses, you move the entry of the 2nd trade closer ... e.g.: if your original entries are 1.6174 and 1.6120 ... (box is 1.6130 to 1.6170 plus spread of 4) ... and the Buy trade triggers but fails, normally you wait to Sell ... but since you're expecting the price to trend down, you'd move your entry to 1.6130, the bottom of the original box ... Cain, what do you think?
OK, Cain said draw the box around 8.00 and 8.10 on 5M using GMT +1
if we use GMT is 7.00 to 7.10
Now the question, the candle at 8.10 should be included or not ?
if yes the candle begin at 8.10.00 and ends at 8.14.59.
please Cain clarify this.
thanks
Your EA is much appreciated Lanzio!
I'm testing some new approaches to this method, diferent R:R and a more sensitive trade management that can help us on the protection of profit and on the difficult process of minimizing losses.
I would like to ask you if you can include something like:
- Move stoploss to 50% box size once 50% of the box size tp is reached
- Move stoploss to break-even+1 after 1 box size tp is reached(I really want that pip! Their all welcome in my account.)
- Move stoploss to 1 box size tp once 150% box size is reached
... and so on... I think you get the idea.
Thank you for for effort on the EA Lanzio! It's gonna make our lives easier, backtesting and optimizing is gonna be much, much more easy.
and I wont get up at 7.00 GMT ever again!!!
By the way, I missed last Friday trades, "my" girl told me that if I leave the bed to trade she would leave...
I really need a EA for this system...
No more trades for me until next year.
Have a nice vacation!
- #206
- Edited 4:21am Dec 19, 2009 4:05am | Edited 4:21am
- | Joined Aug 2009 | Status: Trader | 1,871 Posts
none more 2 say
Start : 07:00
End : 07:10
so that are 3 candles :
07:00-07:05
07:05-07:10
07:00-07-15
place pending orders @ 07:15 GMT
I just love breakout threads. They all end up having nothing to do with the underlying strat and everything to do with the ability to tell time.
Easier for the people in the UK, like me
- #208
- Dec 19, 2009 4:03pm Dec 19, 2009 4:03pm
- | Joined Aug 2006 | Status: Trader | 1,024 Posts
Then you need to use the time difference of the place that you are in the world to the UK, East or West of Greenwich, London...........then whether or not your country does DST (Daylight Saving)..........You also need to take into account the time difference of the server of your broker, like Alpari UK is 1 hour ahead of UK time, so on the chart you have to use 8:00 - 8:10am (7:00 - 7:10am GMT)
Yeah, I bet there are some (jammy) people who are making boxes around 6:00-6:10am, 9:00-9:10am and even 10:00-10:10am and still winning....lol...
Simply download a clock with the current London time. Qlock is a good one. Make a box starting @ 7:00 AM and ending at 7:15 AM. Place your pending orders.
Good trading!
BC
Also, any headway on your backtesting to determine if a smaller SL is viable? I currently have been using 90% of the box including the buffer. This places the SL just outside the box without buffer and saves a few pips with the losses incurred.
BC
- #214
- Dec 19, 2009 8:43pm Dec 19, 2009 8:43pm
- | Joined Aug 2006 | Status: Trader | 1,024 Posts
Any thoughts on increasing the lot size following the 1st trade loss? The reason for my question is that my data from 10-01-09 indicates:
1) 1st trade wins = 66%
2) 2nd trade wins = 72%
3) 2nd trade wins following a 1st trade loss = 80%
#3 is very compelling to my sense of greed!
And...my profitability is enhanced with a 90% box size SL. 
1) 1st trade wins = 66%
2) 2nd trade wins = 72%
3) 2nd trade wins following a 1st trade loss = 80%
#3 is very compelling to my sense of greed!
And...my profitability is enhanced with a 90% box size SL. - #215
- Edited 5:47am Dec 20, 2009 5:36am | Edited 5:47am
- | Joined Nov 2009 | Status: Trader | 104 Posts
Any thoughts on increasing the lot size following the 1st trade loss? The reason for my question is that my data from 10-01-09 indicates:
1) 1st trade wins = 66%
2) 2nd trade wins = 72%
3) 2nd trade wins following a 1st trade loss = 80%
#3 is very compelling to my sense of greed!
Also Bob ,stat no. 2 72% wins ,dose this include trades that were closed at 11 the next day without being filled ?
Hi Arrow,
1) Data is from trades beginning October 1, 2009. I didn't go back further in time because of the confusing daylight savings switch for both Great Britain and the USA on different days. Too lazy...lol!
2) Trades ran until either the SL or TP were filled. I manually closed out some pending trades when the price was far from the entry point and the trading window was "a bit long in the tooth".
Next on my plate is to determine what SL level is adequate for safe trades, but will lower the risk. For now, I'm good with 90%....
Summer time is from the last Sunday of March till the last Sunday of October, that correspond to 29 of March and 25 of October in 2009.
I live in Portugal, GMT too.
Hi Arrow,
1) Data is from trades beginning October 1, 2009. I didn't go back further in time because of the confusing daylight savings switch for both Great Britain and the USA on different days. Too lazy...lol!
2) Trades ran until either the SL or TP were filled. I manually closed out some pending trades when the price was far from the entry point and the trading window was "a bit long in the tooth".
Next on my plate is to determine what SL level is adequate for safe trades, but will lower the risk. For now, I'm good with 90%....
Happy Christmas
Alb