scooby-doo BOJ JPY pairs trading robot

Live a/c sell basket hit tp on MIG. Very comfortable turning wave 2 trading off. Slowly recover from a few fall down by stepping onto banana skin.

Looking back all of my losses have been on the 1st wave the the 2nd waves all wins and in the shortest amount of time sometimes even minutes I was even thinking of raising the lot size and profit multiplier

But I'm a pig not a hog

I wise Jewish guy told me once
Pigs get fat Hogs get slaughtered

Sell GBPJPY @ 137.300

Goodluck

scooby.. how did your v2.3 do this week?

I was wondering how long it would take someone to ask this question that everyone is wondering about after last week's stonking performance. It has been as it the thread has been holding its breath.

Another G. D. word I have to look up

Stonking
British colloquial: Impressive, wonderful

how has the other version of THG 1.6 been doing? I believe there have been a few updates. I have been using Max's 524c and it seems pretty cool this week.

Let see what next week holds.

lol.. I was wondering the same thing.

You are probably beginning to think that Mr. Invisible is not actually from where his profile says he is from (Afghanistan) after all .

I was in the middle of accompanying kids at a music festival at the time. I hope this worked out well for everyone.

Was a very bad call.

I ended up down 60K today.

Oops. Life is never perfect. Had I taken the trade and lost a few quid, I would not have held it against you. Even you cannot be right every time.

60K?

Ouch.

Would have been about 60p on my accounts.

Yeah, I had some explaining todo with the powers above. I went against our semi-automated system advice of no trade. Which means I have shit load of paper work to fill out with reasons for my actions. Sometimes it is like being back at school. Mind you I guess 60K is allot of dosh.

Next week will see big moves on EUR and GBP due to the pending Greece bail out strategy.

As a result you may get the start of allot of trend reversals.

Markets will go a bit crazy at Sunday open etc.

Scoobs.

I don't suppose that, "I have this mate called Steve, who says that our 60K is like him losing 60p on one of his accounts" will make much difference here. Ah well. Unlike my mythical 60p, I am sure you will make back the actual 60K with interest soon.

Great. That gives wimps like me the chance to read how real traders shadowed such-and-such down to such-and-such a level before trading the reverse and closing out after the price reached the clear resistance at x and then scaled in to the continuation of the obvious downward plunge.

Poncy gits.

max - pretty good results this week, again. no crazy drawdowns or anything like that. What is the logic behind your system?

Scooby - dont want to sound annoying after you have just lost 60K, but how did your holygrail v2.3 perform? I have been running 1.6, and its had its fair share of losses.

Hi Steve,

Thanks for letting me contribute in this thread. You and others have done a great job here.

Regarding the ADR bot, I have some thoughts for its improvement:

1. the new trend/reversals normally occurr during session open and close hours. e.g. I recently did a trend study on EURJPY, for the last 60 days they occurred at following time/frequency: (time is Alpari server time, which is GMT+1)

Time (GMT+1)/AverageMove/#ofBars/Frequency
2010.03.01 00:00/0.758/4.25/8
2010.02.26 22:00/0.893/4.00/4
2010.02.26 21:00/0.765/3.75/4
2010.02.26 20:00/0.781/4.14/7
2010.02.26 19:00/0.942/10.40/5
2010.02.26 18:00/0.915/5.17/6
2010.02.26 17:00/0.935/7.69/13
2010.02.26 16:00/0.87/8.83/12
2010.02.26 15:00/1.47/6.33/6
2010.02.26 14:00/1.168/5.55/11
2010.02.26 13:00/1.313/6.71/7
2010.02.26 12:00/0.931/6.38/8
2010.02.26 11:00/0.827/5.17/6
2010.02.26 10:00/0.955/4.50/10
2010.02.26 09:00/1.469/5.00/6
2010.02.26 08:00/1.06/2.92/12
2010.02.26 07:00/1.005/4.78/9
2010.02.26 06:00/0.78/3.78/9
2010.02.26 05:00/0.782/4.67/6
2010.02.26 04:00/0.781/4.14/7
2010.02.26 03:00/0.491/2.25/4
2010.02.26 02:00/1.252/6.50/6
2010.02.26 01:00/1.309/9.30/23
2010.02.26 00:00/1.126/6.00/3

e.g. at 01:00, 23 days out the last 60 it started a new trend. On average, the trend moved 130 pips and lasted 9.3 hours before reversing. If a reversal occurred at 03:00, you should suspect it because only 4 times out of last 60 days it reversed and it only moved 49 pips for 2 hours. Therefore, if OB/OS setups occurr during the high reversal hours, they are more likely to result the successful trades.

2. There are three distinctive but related markets in forex because trading time differences. If you observe the patterns, you may discover patterns that provide higher probability for successful trade setups. e.g. GBPJPY is traded in a tight range where daily range were not exceeded for a couple of days. This indicates that market is in a breakout mode, where you may not want to fade the breakout at the extreme because it is more likely the breakout will followthrough. You may want to add position in the breakout direction instead of fading it. If the breakout move is made during UK session and it is not reversed by US session, it is more likely that Asia session will have a move in the same direction. Once three sessions all made the move in the same direction, the market may reverse. Therefore you have a higher probability to fade the move in the original direction, and the reverse most likely comes from the session where the first breakout occurred. In the previous example, if the asia market did trade to .5*ADR or 1*ADR at the UK open, taking a reverse position would have higher probability to get back to the asia open.
3. when OB/OS level match with other important levels, such as previous day high/low, last impulsive move Fib retrace level, etc. it becomes more important and has higher probability to succeed.

Just some thoughts for you based on my observation.

Steve,

If you decide to make changes to the bot so that it fades the move on high resersal hours, then I have following suggestions:

1. it is better to have a external input of start of the day so that open price of the day is uniformly identified across different brokers.

2. ADR calculation should exclude Sunday bars because they are incomplete days and very small. Sunday bar ends at Monday open as defined by user input for Daily bar open time.

This way the system performance would be more consistant across different broker platforms even though their servers have diferent daily bar openning time.

Sorry, but I do not understand any of this. Nor do I care. The ADR robot trades a simple idea; this will work or it will not. I am not rubbishing your contribution; I simply do not understand it.

I have come across this term before - 'fades the move' and hoped its meaning would become clear with context. It has not. What does it mean?

Doesn't need it. The bot spots the start of a new candle automatically.

Possibly, but too complicated to code given my limited understanding of mql4 time coding. This is that the Sunday candle is lumped in with Friday. I could well be wrong here, but don't really care as there is only so much optimizing that is possible before the efforts begin to heavily outweigh the results of the optimizing.

The only thing I was saying is that knowing what time of the day the price get into OB/OS zone can help increase the success rate of setups. Sorry that if I confused you. Don't worry about it.