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E/U daily correction system

  • #41
  • Dec 29, 2009 2:04pm Dec 29, 2009 2:04pm
Maanawi,

Thanks for your observation. Here is my chart....is it correct?
I like your moving averages. I will like to buy when candle closes above 32MVA. I will try to exit around 1.4394 ish. Just my thought about trading this set-up.

Happy new yr to you

Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: maanawi.gif Size: 22 KB
  • #42
  • Dec 29, 2009 2:11pm Dec 29, 2009 2:11pm
Quoting Dreamliner
I agree, glad you put your own spin on it, that's fine. What is it exactly you are doing? Please share your method here, so we can examine it.
Using template and indicator as supplied plus adding Trend Magic Indicator.
Open trade at 16.00GMT in direction as indicated by Trend Magic put 30 TP & 15 SL but looking back you could get away with 10 SL but this may be sailing a little too close to the wind.
I would appreciate your opinion on this.
  • #43
  • Dec 29, 2009 2:16pm Dec 29, 2009 2:16pm
Quoting Koyco
Using template and indicator as supplied plus adding Trend Magic Indicator.
Open trade at 16.00GMT in direction as indicated by Trend Magic put 30 TP & 15 SL but looking back you could get away with 10 SL but this may be sailing a little too close to the wind.
I would appreciate your opinion on this.

Would you please provide a chart.

Thanks.
  • #44
  • Dec 29, 2009 2:21pm Dec 29, 2009 2:21pm
Quoting maxwell-eqtn
Would you please provide a chart.

Thanks.
Sorry don't know how but it will be the same as yours
  • #45
  • Dec 29, 2009 2:40pm Dec 29, 2009 2:40pm
Quoting Koyco
Sorry don't know how but it will be the same as yours

Koyco,

If you ask I believe someone in the forum will show you how.


Anyway, here is a trade I took. Let us see if it will get there.
Attached Image (click to enlarge)
Click to Enlarge Name: maanawi1.gif Size: 24 KB
  • #46
  • Dec 29, 2009 6:10pm Dec 29, 2009 6:10pm
My close was 1.4354 at the 1700 candle. It went down came back up to the resistance. It went back down to 1.4338.

I worried because i used a 25 pip stoploss above the resistance. Any sugestions.
  • #47
  • Dec 30, 2009 10:00am Dec 30, 2009 10:00am
hey alaa.... i'm assuming your ea in programing section has something to do with the e/u daily correction system....

step 4.... when does the lot cycle reset.... such as in the picture, the first order is a sell and closed ok, then the next is a buy closed ok.... at what point do we revert back to the original minimum lot size....

also, how long is the horizontal line meant to be active.... all day, or a session, set number of hours....???

i have the ea programed to place a magenta line at the time, 18 gmt in this example..... it also plots the open price which sets the horizontal blue line....

when the ma crosses below the blue line it sells, if crosses up it buys.....

it also plots the dashed lines on each hour for reference....

as it's currently written, the next day at 18gmt, my example, everything moves to that time and price..... and it starts over....

summing up,

how long is the current horizontal line to be used....

and when do the lots reset to first size.....h
Attached Image (click to enlarge)
Click to Enlarge Name: maanawi1.gif Size: 31 KB
to trade and code, keep both simple... no call to impress....h
  • #48
  • Dec 30, 2009 10:51am Dec 30, 2009 10:51am
Hello Hayseed,

Actually and honestly no I dont need it for this system, I need it for another fibo lines when price touch it its run up or down.
next week I will make post about this system.

The point of having this EA I dont have to stay all day front of monitor till price touch the line then run up or down so EA will make it more easy.

So do you have the EA i mentioned? if so please let me try it
-----------

About EUR USD daily correction system as every one see at posted pictures for the daily correction and even before and always this correction happen.
Ohh yesterday correction didnt happened yea some trader did profits and im sure some lost pips same happened with me too... but I didnt advice or recommend any one to trade this system before we come with good method for it. I even dont trade this method since holidays start as market act unnormal these days.


Kind regards,
Alaa
  • #49
  • Dec 30, 2009 4:38pm Dec 30, 2009 4:38pm
When you say 1600 GMT or 4:00 P.M. GMT in New York that would be 11:00 A.M. since New york is -5 GMT is that Correct?

MrChips
Jim (MrChips)
  • #50
  • Dec 30, 2009 5:06pm Dec 30, 2009 5:06pm
Quoting MrChips
When you say 1600 GMT or 4:00 P.M. GMT in New York that would be 11:00 A.M. since New york is -5 GMT is that Correct?

MrChips
That is correct. In the spring, it will be 12:00 Noon.
  • #51
  • Jan 1, 2010 11:34am Jan 1, 2010 11:34am
Hi,

i have been following this thread with some interest. Can someone please confirm whether we are looking at 16.00 hrs GMT all year, or just GMT during winter and then need to move to GMT+1 in summer time? My ODL platform always stays at GMT even in Summer, so would I need to add +1 hour to my charts in Summer ie take the 17.00 hrs GMT candle instead?

Many thanks.
  • #52
  • Jan 1, 2010 2:17pm Jan 1, 2010 2:17pm
Marhaba Alaa
i read your thread, and i made a simple EA for your system.
but i used different time to open trades and different TF, M15.
and get good results.
the problem i don't have enough history for EURUSD and i don't want to download history from other center of my broker (FXCM), the backtest was from 19/11/2009 till 31/12/2009 which is very short period to judge if my settings are good or bad.
Anyhow, because it is not the same rules as in your thread, i will not post the EA till after you agree to post it.
the EA has parameters to change Time, loss, profit, selllimit and buylimit ranges and trailing stop.
i don't want the people to get confused of settings different from yours.
So waiting your decission if yes or no.
Regards,
Anthony
  • #53
  • Jan 1, 2010 2:30pm Jan 1, 2010 2:30pm
Hi All
i tried to post image, it asks for URL......
i see lot of charts posted,
may somebody explain to me how to post an image? not to attach it as a file.

Anthony
  • #54
  • Jan 1, 2010 3:06pm Jan 1, 2010 3:06pm
Hello Mr.Anthony,

Thanks for your post and intrest in this thread, yes its fine if you would like to add the EA on this thread, actually I discover this system since month ago and looking at the chart for previouse 3 months its work like 90% on the rules to do correction. I post this thread and didnt suggest trader to trade it until we find a good system to make profits from it.

so feel free to show us your idea about it please.



Quoting Anthony_M
Marhaba Alaa
i read your thread, and i made a simple EA for your system.
but i used different time to open trades and different TF, M15.
and get good results.
the problem i don't have enough history for EURUSD and i don't want to download history from other center of my broker (FXCM), the backtest was from 19/11/2009 till 31/12/2009 which is very short period to judge if my settings are good or bad.
Anyhow, because it is not the same rules as in your thread, i will not post the EA till after you agree to post it.
the EA has parameters to change...
  • #55
  • Jan 1, 2010 3:29pm Jan 1, 2010 3:29pm
thanks for your observation
  • #56
  • Jan 2, 2010 7:46am Jan 2, 2010 7:46am
Quoting maanawi
Hello Mr.Anthony,

Thanks for your post and intrest in this thread, yes its fine if you would like to add the EA on this thread, actually I discover this system since month ago and looking at the chart for previouse 3 months its work like 90% on the rules to do correction. I post this thread and didnt suggest trader to trade it until we find a good system to make profits from it.

so feel free to show us your idea about it please.
Here is the EA for your system
it works on TFs 5 and 15 minutes also.
backtest it to see results, hope that's what you want.

Anthony
Attached File(s)
File Type: mq4 Anthony_Alaa_EA.mq4   5 KB | 359 downloads
  • #57
  • Jan 2, 2010 9:09am Jan 2, 2010 9:09am
Hello Mr Antony,

Thanks a lot for coding this EA which is a good idea

I have comment on the time as displayed in the attached image, the limits places early within 5 minutes, so do we have to change time from 18 to 18:05?

I think by defult is to make take profit less with 4 pips considering the spread then we back test it again.

Can this EA work on other pairs too or only EUR USD?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 109 KB
Click to Enlarge Name: 2.jpg Size: 105 KB
  • #58
  • Jan 2, 2010 9:30am Jan 2, 2010 9:30am
Hi Alaa
the limits are placed at 16GMT at open of the candle
double down = Open[0]-buyorder*Point;
double up = Open[0]+sellorder*Point;

if you wnat to change to other time, before or after, let me know

Anthony
  • #59
  • Jan 2, 2010 3:17pm Jan 2, 2010 3:17pm
Hello Mr Anthony,

well it have to be the close of the 16GMT candle as I mentioned in this thread, so it have to be open of 16:05GMT.

I will look at the 15m candle too as you mentioned it work good too.

Thanks a lot
Quoting Anthony_M
Hi Alaa
the limits are placed at 16GMT at open of the candle
double down = Open[0]-buyorder*Point;
double up = Open[0]+sellorder*Point;

if you wnat to change to other time, before or after, let me know

Anthony
  • #60
  • Jan 3, 2010 11:42am Jan 3, 2010 11:42am
Quoting maanawi
Hello Mr Anthony,

well it have to be the close of the 16GMT candle as I mentioned in this thread, so it have to be open of 16:05GMT.

I will look at the 15m candle too as you mentioned it work good too.

Thanks a lot
your system works well , here is results for 5 minutes TF
backtested with FXDD

M5 chart- EURUSD from 24/3/2009 till 31/12/2009

Bars in test 57289
Ticks modelled 2404786
Modelling quality 60.42%
Mismatched charts errors 30
Initial deposit 10000.00
Total net profit 1967.91
Gross profit 4820.32
Gross loss -2852.42
Profit factor 1.69
Expected payoff 11.78
Absolute drawdown 95.00
Maximal drawdown 304.57 (2.73%)
Relative drawdown 2.73% (304.57)
Total trades 167
Short positions (won %) 86 (65.12%)
Long positions (won %) 81 (75.31%)
Profit trades (% of total) 117 (70.06%)
Loss trades (% of total) 50 (29.94%)
Largest
profit trade 52.00
loss trade -59.14
Average
profit trade 41.20
loss trade -57.05
Maximum
consecutive wins (profit in money) 10 (410.57)
consecutive losses (loss in money) 5 (-291.57)
Maximal
consecutive profit (count of wins) 410.57 (10)
consecutive loss (count of losses) -291.57 (5)
Average
consecutive wins 3
consecutive losses 1
Attached Image (click to enlarge)
Click to Enlarge Name: M5-EURUSD.gif Size: 9 KB
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