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Daily95pips

  • #1,961
  • Nov 24, 2009 1:44pm Nov 24, 2009 1:44pm
Could anyone help, I have triede to add zeros in the code but the ea still uses 4 digits making take profit and stop loss to be tenths that is instead of 40 pips stop loss I get 4 pips stop loss.

How do I make it work on 5 digit broker?
  • #1,962
  • Dec 7, 2009 10:00pm Dec 7, 2009 10:00pm
I dont know if Mikelath is still here, but i would like to thank him for starting this thread and sharing his ideas, which formed the base of my trading system.

I tried trading this system for a few months, and results were a little better then BE. Later I found that the failed trades were bounded by past supports and resistances... So i set my take profits at the next S or R. It's just the basic idea, but i hope it helps.
Life is a school for the soul
  • #1,963
  • Dec 9, 2009 11:03am Dec 9, 2009 11:03am
This system seems very easy to use which is what I need right now....thank you for the thread
  • #1,964
  • Dec 11, 2009 2:05pm Dec 11, 2009 2:05pm
Hi,

If anyone can share with me extensive forward tests since the start of this thread or any solid backtests (not MT4) I may be able to share a special MM system I have developed

Thanks
  • #1,965
  • Dec 12, 2009 4:34am Dec 12, 2009 4:34am
Quoting Scientist
Hi,

If anyone can share with me extensive forward tests since the start of this thread or any solid backtests (not MT4) I may be able to share a special MM system I have developed

Thanks

Hi There

I have GBP/JPY backtest data using tradestation (a number of parameters) and forward test data for the last year almost. The forward test data uses 60 stop and 110 target setting trades at 7am gmt with a 24hr look back.

Happy to share with you.

Cheers
Pipnick
  • #1,966
  • Dec 13, 2009 12:54am Dec 13, 2009 12:54am
Quoting PipNick
Hi There

I have GBP/JPY backtest data using tradestation (a number of parameters) and forward test data for the last year almost. The forward test data uses 60 stop and 110 target setting trades at 7am gmt with a 24hr look back.

Happy to share with you.

Cheers
Pipnick
How was the results ?

  • #1,967
  • Dec 13, 2009 10:30am Dec 13, 2009 10:30am
Do you pay attention to the S/R levels on higher timeframes when you place your entries?
  • #1,968
  • Dec 26, 2009 3:38am Dec 26, 2009 3:38am
Quoting tomomi72003
EA
tomomi,
which EA are you using?
  • #1,969
  • Dec 27, 2009 10:41am Dec 27, 2009 10:41am
Has anyone tried this method with only two pending orders, one for above the high and one for below the low, with a stop that would equal 1-2 RR? I don't think you could get 95 pips in one day, but I wonder if the win ratio would go up? Just curious.
  • #1,970
  • Jan 19, 2010 4:48am Jan 19, 2010 4:48am
Did anyone happen to code this entry into the EA and test it?


Quoting TomTrader
Hi Mike,

Try this idea for your Daily 95. Make your 15pip profit trade with 3x lots, the 30 trade with 2x lots, and the 50 trade with 1x lot.

For example,

Make first trade at Buy with a take profit of +15 --- lot size = .03 (or 3)
Make first trade at Buy with a take profit of +30 --- lot size = .02 (or 2)
Make first trade at Buy with a take profit of +50 --- lot size = .01 (or 1)

The idea here is that hitting the nearby targets is more likely than hitting the far targets therefore bet heavier on the nearby target. AND if the first target...
  • #1,971
  • Jan 19, 2010 6:53am Jan 19, 2010 6:53am
I am runnig the Alpari Fall version on an FXCM demo. For some reason is does not move the SL to BE as defined in my parameters. Is anyone else having this problem?
  • #1,972
  • Feb 13, 2010 7:02am Feb 13, 2010 7:02am
hello guys

Is there also ea for broker fxcm?
  • #1,973
  • Mar 4, 2010 6:49am Mar 4, 2010 6:49am
I have read through this whole thread but could not see an answer as to why Mike chose to use last 17 hours and what was the logic behind this? I find it an odd number but he must have got this from somewhere or based this on something...... I would have thought 24 hours is the best

Any thoughts
  • #1,974
  • Mar 5, 2010 2:27am Mar 5, 2010 2:27am
Hi Shrips,

I cannot tell you why 17 hours particularly and I don't believe that it is particularly relevent. The whole breakout concept is to do with the Asian range.
Various people have written about price behavior in relation to it, Boris Schlossberg for one.

Phil Newton has another view and has his 'set of hours' from which he trades the breakout.

I have been looking at a half hour range just prior to Europe opening.

The real problem is the false breaks by an odd pip or two from any line selected. Add a ten pip buffer and you will see price go twelve pips, come back and hit your stop loss.

There are also commercial packages available 'London Rush' and another later version with a similar name.

Unfortunately none of these breakout systems just work!!

95 looked a good answer but until we find a way of dealing with the 'pop up and stops' it is not a long term winner.
  • #1,975
  • Mar 5, 2010 2:59am Mar 5, 2010 2:59am
I do like this system because of its high probability to reach TP(especially the first 2 TP) when the market is behaving in a strong trending manner.

The key to trading this system long term is the ability to know when not to trade this. If you trade this 365 days of the year, I dont think you will show a profit.

Trade this in a week like we are having now and you will kill your account.

Just curious if anyone is trading this live and consistently showing good results?
  • #1,976
  • Mar 5, 2010 5:16am Mar 5, 2010 5:16am
Regarding the entries of placing a buy or sell 5 pips below and above the high & lows of previous day. Would that mean putting a buy order 5 pips above the previous days high or 5 pips below the previous days low, could please clarify a little about that? Thanks
  • #1,977
  • Mar 7, 2010 11:01pm Mar 7, 2010 11:01pm
I just wondering if anyone has any test results of this system in excel for any period.
Im looking for High/Low and close data as well as win/loss results. Im looking to add a few more filters to this system to improve it.
It would be a great help
  • #1,978
  • Mar 16, 2010 7:55am Mar 16, 2010 7:55am
Quoting shripsfx
I have read through this whole thread but could not see an answer as to why Mike chose to use last 17 hours and what was the logic behind this? I find it an odd number but he must have got this from somewhere or based this on something...... I would have thought 24 hours is the best

Any thoughts
Well if I read the entry post correctly, he' putting his orders at 5 p.m. EST. In continental Europe we also call this time of the day 17:00, and that's your answer - he's looking back until midnight EST.

I could speculate that the orders are put and the range determined when the main Europe and U.S. sessions are closed and only the asian session remains open or starts. Maybe the idea is that during asian trading things behave more ,,regular'', especially when USD-GBP or EUR-USD are concerned?
  • #1,979
  • Nov 22, 2010 3:53am Nov 22, 2010 3:53am
Any news on this strategy ?
  • #1,980
  • Sep 12, 2011 1:38am Sep 12, 2011 1:38am
Hi,

How I can change this BE-setup to openPrice+1pip?

Thank You
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