GbpUsd 5 min breakout | Page 15 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

London Open Breakout Strategy for GBPUSD 18 replies

GBPUSD Breakout Trading System 18 replies

15 min indicator on 5 min chart 3 replies

Backtesting w/ 1 min tick gap 0 replies

5 min forex with Oanda 11 replies

Attachments: GbpUsd 5 min breakout
Exit Attachments

GbpUsd 5 min breakout

  • #281
  • Dec 22, 2009 5:43pm Dec 22, 2009 5:43pm
I'm using FXCM charting software. I can use the ask or bid price on a chart. Do I add 10 pips to the high and low, to the ask price or bid price?
I'd say the ask price.
  • #282
  • Dec 22, 2009 5:47pm Dec 22, 2009 5:47pm
Quoting Lanzio
Hi Cain, I'm almost done with the EA so we can backtest...
I just wanted to add 2 parameters for min and max boxsize in order to place pending orders.

Can you please tell me what is the box size in pips that you consider to big or too small in order to trade?

I'll answer to those who requested hidden SL/TP... well that could be an option, but that would require the EA constantly monitoring the trades, with the prolem that sometimes you can't get out the market due to constant requotes, unless you use a big slippage...

I'll also add options...
i am looking forward to your EA. you are the man

i will keep working on mine as a programming exercise.
  • #283
  • Dec 22, 2009 7:10pm Dec 22, 2009 7:10pm
Hi Cain

I have been following your thread since you started it and of course, I have used this system. At this moment, I haven't change anything on your system. From backtesting, I found out that from the period of Feb 2009 to Oct 2009, the result is not doing good. From end Oct onwards till Dec, the result is spendid. I recalled you mentioned about DayLight Saving Time before, so I did another round of backtesting to the system.

From end of Mar 2009 onwards, I used 7.10-7.15 (GMT+1) and for my case 6.10-6.15 (as my broker's server at GMT+0). The result ended up as 'mixed' and leaning towards 'bad'. So, my question is:

1) As you are taking advantage of Frankfurt's market opening time, what is time shall I use? Am I correct of using 7.10 (GMT+1)?

2) My another question is, will you close a position that not reach tp/sl on 23.00 (GMT+1)? Or you leave it open till it reach your tp/sl?

3) I am using 5% of my accountbalance each trade and therefore it is (1.05)^n with continuous winning and (0.95)^n for continuous losing. Anything comment?

Thanks.

p/s: My first post because I choose to post only informative post rather than comment.
  • #284
  • Dec 22, 2009 10:33pm Dec 22, 2009 10:33pm
Quoting tallman
From backtesting, I found out that from the period of Feb 2009 to Oct 2009, the result is not doing good. I recalled you mentioned about DayLight Saving Time before, so I did another round of backtesting to the system.

From end of Mar 2009 onwards, I used 7.10-7.15 (GMT+1) and for my case 6.10-6.15 (as my broker's server at GMT+0). The result ended up as 'mixed' and leaning towards 'bad'. So, my question is:

1) As you are taking advantage of Frankfurt's market opening time, what is time shall I use? Am I correct of using 7.10 (GMT+1)?

2) My...
No disrespect...but, how can we trust your "analysis"? You don't appear to understand the trading rules and your comment about, "the result not doing good" is nebulous. You don't supply us with any tracking data to back up your contention. You may be correct, but without cold hard data, your posting is merely opinion. Give us something constructive.
  • #285
  • Dec 23, 2009 5:24am Dec 23, 2009 5:24am
Not a good day for me.. I'm sure glad I went with a micro account today
  • #286
  • Dec 23, 2009 6:02am Dec 23, 2009 6:02am
Quoting slade1986
Not a good day for me.. I'm sure glad I went with a micro account today
Not a good day for anyone who traded today...
Attached Image
  • #287
  • Dec 23, 2009 6:09am Dec 23, 2009 6:09am
Quoting Bobcat2
No disrespect...but, how can we trust your "analysis"? You don't appear to understand the trading rules and your comment about, "the result not doing good" is nebulous. You don't supply us with any tracking data to back up your contention. You may be correct, but without cold hard data, your posting is merely opinion. Give us something constructive.
Ok, here is the cold hard data. I held back my data because I want to clarify something before I post. If Cain could clarify my question about DST then the backtest should be correct.

Attached File(s)
File Type: pdf StrategyTester (from 25Oct).pdf   52 KB | 586 downloads


Attached File(s)
File Type: pdf StrategyTester (from 30Mar)_DST-1.pdf   79 KB | 484 downloads


Please do not judge that I don't understand the "rules". For every Cain post earlier on Nov trade, I had the range (all TP/SL) same as his.
  • #288
  • Dec 23, 2009 6:32am Dec 23, 2009 6:32am
your modeling quality sucks. get better data and then test again. i think the results will be the same though
  • #289
  • Dec 23, 2009 7:17am Dec 23, 2009 7:17am
Quoting tallman
Ok, here is the cold hard data. I held back my data because I want to clarify something before I post. If Cain could clarify my question about DST then the backtest should be correct.

Attachment

Attachment

Please do not judge that I don't understand the "rules". For every Cain post earlier on Nov trade, I had the range (all TP/SL) same as his.

you got an EA to backtest this ? plz share

and jtmoore007 is right, modelling quality should be at least 90%
Never whishing, always trading.
  • #290
  • Dec 23, 2009 7:53am Dec 23, 2009 7:53am
Quoting Hova
you got an EA to backtest this ? plz share

and jtmoore007 is right, modelling quality should be at least 90%
I used the best quality I could get, every tick count.

It is a breakout system, so you only need bar range. Do you understand what is 'modelling'? Or you just follow the rule people set?
  • #291
  • Dec 23, 2009 9:29am Dec 23, 2009 9:29am
Quoting tallman
I used the best quality I could get, every tick count.

It is a breakout system, so you only need bar range. Do you understand what is 'modelling'? Or you just follow the rule people set?
You need more than bar range
  • #292
  • Edited 1:57pm Dec 23, 2009 1:33pm | Edited 1:57pm
rough draft Cain's strategy.

a thumbs up (mark on chart) means, a duplicate order successfully created. a thumbs down mean it was not created due to some order-sending problem.

remember, i am a beginner programmer.

file attached.

===============
edit: i am seeing some problems with opening some orders on backtesting. i will keep working on it.
Attached File(s)
File Type: mq4 Cain_System.mq4   11 KB | 221 downloads
  • #293
  • Dec 23, 2009 2:01pm Dec 23, 2009 2:01pm
Quoting hnosair
rough draft Cain's strategy.

a thumbs up (mark on chart) means, a duplicate order successfully created. a thumbs down mean it was not created due to some order-sending problem.

remember, i am a beginner programmer.

file attached.

===============
edit: i am seeing some problems with opening some orders on backtesting. i will keep working on it.
When I drag the EA to the GBP/USD chart nothing happens. Should I be doing something else?
  • #294
  • Dec 23, 2009 2:12pm Dec 23, 2009 2:12pm
Quoting mrpipp
When I drag the EA to the GBP/USD chart nothing happens. Should I be doing something else?
what i do is open the strategy tester from the view menu (or press ctrl + R). then chose parameters and run simulation.

i dont know if it does or does not work by dragging. could be a problem with code or it could be wrong way to do it.

first, you have to put this file in the expert folder with other EAs. then compile it. then go to strategy tester and select it from the drop down menu.
  • #295
  • Dec 23, 2009 2:16pm Dec 23, 2009 2:16pm
a little fix in the attached EA
Attached File(s)
File Type: mq4 Cain_System.mq4   11 KB | 220 downloads
  • #296
  • Dec 23, 2009 2:24pm Dec 23, 2009 2:24pm
Quoting hnosair
what i do is open the strategy tester from the view menu (or press ctrl + R). then chose parameters and run simulation.

i dont know if it does or does not work by dragging. could be a problem with code or it could be wrong way to do it.

first, you have to put this file in the expert folder with other EAs. then compile it. then go to strategy tester and select it from the drop down menu.
I have other EA's in the expert folder. They show up in the expert advisors(in the side navigator) of MT4. I just drag them over to the chart and the name appears in the upper rh corner. This way you can change options... IE, time change.
I now see the blue box, but it's off by an hour.
  • #297
  • Dec 23, 2009 2:34pm Dec 23, 2009 2:34pm
Quoting mrpipp
I have other EA's in the expert folder. They show up in the expert advisors(in the side navigator) of MT4. I just drag them over to the chart and the name appears in the upper rh corner. This way you can change options... IE, time change.
How do you compile? Does it compile automatically when it appears in MT4?
my bad. there was a piece of code which made the program think it was an indicator. see attachment for fixed code.

to compile the code, you need to open the file using metaeditor and then click on compile. if it compiles successfully, there should be no warning or error messages.

i will also attach the compiled code (.ex4)
Attached File(s)
File Type: mq4 Cain_System.mq4   10 KB | 235 downloads
File Type: ex4 Cain_System.ex4   15 KB | 184 downloads
  • #298
  • Dec 23, 2009 3:01pm Dec 23, 2009 3:01pm
Quoting hnosair
my bad. there was a piece of code which made the program think it was an indicator. see attachment for fixed code.

to compile the code, you need to open the file using metaeditor and then click on compile. if it compiles successfully, there should be no warning or error messages.

i will also attach the compiled code (.ex4)
I adjusted the time to, begin time "8:00" end time *8:15".
Right now my MT4 GMT is 0:00(actual time 3pm pst)
Westcoast USA when London opens is 11pm.
Now it draws the box at the correct time, with the red buffers.
  • #299
  • Dec 23, 2009 3:26pm Dec 23, 2009 3:26pm
Correction. I'm going to change the start time to "7:55" and the end time to "8:15". In this case, the EA draws a blue box around the high and low of the 8:00, 8:05, and 8:10 candles.
  • #300
  • Dec 23, 2009 4:31pm Dec 23, 2009 4:31pm
Quoting jtmoore007
You need more than bar range
Apologise if I confused you. I think we have miscommunication. My point is backtesting of this system (you can called it Cain's system but in fact it is a variant of Big Ben breakout) does not need to have to get the modelling requirement you mentioned. This is because, it is a breakout system that generates 1 buy stop & 1 sell stop by using range of three M5 bars (8.10-8.15 GMT+1). Both stop is fixed each day, and when price went onto these stop, we will enter a position. There will be no argument that you 'might' not enter a position due to whatsoever reason on backtesting rules.

Unlike EA that uses MA, you need to have precise tick movement I capture the "best" estimation of price so that you backtest result is reliable.

I think I have to stop answering any more reply here that is not constructive or not regarding my earlier question. So, I will try to answer all question that you guys posted to me.

You can choose to not believe my backtest result and choose to think I am presenting wrong information. My intention is to clarify some doubts and not to prove this system is not workable, however, some forummers are thinking I am trying to bash a system without hard cold data. When I try to present the data, my data is being doubted and when I try to explain, I got more replies that irrelevant to my original question.

Yes, I have a complete EA that emulate the system except doubles the lot size when first order is a loss. That is because I am limiting my losses to 2 order size and not 3 order size. It is a pretty simple EA. It opens two pending positions at calculated price and close the opened positions after a certain specific duration.
0 traders viewing now