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Awesome system - HELP!

  • #1
  • First Post: Edited Sep 11, 2010 3:38am Mar 13, 2010 11:34am | Edited Sep 11, 2010 3:38am
Hi, I am manually back testing a new system with ForexTester which so far for the first 7 months of 2009 is showing good results for what I'm after. It is taking me days to manually move my charts forward 1 tick at a time and manually entering my trades, stop losses, take profit, lot size etc. So what I really need help with is someone who knows how to program a strategy tester for either MT4 or Forextester. Or at least someone who can point me in the right direction. I will learn to program and code myself if someone here could just show me the way. So far everything I have found in order to learn Delphi or C++ languages is confusing the stuffing out of me. (Delphi is what I need for ForexTester)

If anyone here is able to help or assist, I will be extremely grateful.

Thanks

P.S. Apologies for the thread title, but I couldn't get anyone's attention with a sensible heading so went for the ever popular hype.
  • #2
  • Mar 13, 2010 2:03pm Mar 13, 2010 2:03pm
Why not post the system?
  • #3
  • Mar 13, 2010 3:51pm Mar 13, 2010 3:51pm
I had posted it in an earlier thread but got no response from anyone, so this was my second attempt at some advice.....thanks for replying.

The system is uber simple and very basic, but it's working so far in my manual tests.

Ok, all I am doing is a basic break out strategy. But instead of using the London or New York open, I am just using every candle during the day, from London start through to mid New York session. I am convinced your entry is almost irrelevant in comparison to your management.

Take the high/low of the previous candle (for me this is the 7am GMT candle). When the next candle (8am) breaks the high or low, I enter.

Currency: GBPUSD
TP: 20 pips
SL: 10 pips
Time frame: H1

I know the SL is very tight, but for me, I am either right instantly or wrong instantly. I'm not hanging around wasting time to see if it goes my way eventually.

I trade with 10:1 leverage maximum.
I enter every trade with exactly 1% risk of my equity. This way I am trading bigger $$$$ amounts when I'm winning and smaller amounts when losing. The strategy lets me trade maybe 10 times per day and can compound my capital very quickly.

No it's not a holy grail and yes it gets draw downs like everything else, but so far for my testing it is showing a very good profit. But obviously I want to check this over as long a period as possible, and I have zero technical ability when it comes to this kind of thing.

If anyone can help test this, or let me know how to run a test automatically instead of me doing it 1 tick at a time, I would be most grateful.

Thanks
  • #4
  • Mar 13, 2010 4:24pm Mar 13, 2010 4:24pm
I am an experienced programmer and there are things in C++ that can confuse me too. Dephi is much easier, but Visual Basic or C# are best for beginners.

I might be interested in assisting if your strategy is based on price action, but I certainly have no interest in some arcane combination of EMAs, SAR, RSIs, MACDs, smoothed HA and the kitchen sink.

I have to warn you that the results in any manual system will vary considerably from an automated one. There are many reasons for this, but the most pertinent one is that your eyes deceive you into believing the trade will work. This is from my own and other's experience.

I will continue to monitor this thread.
  • #5
  • Mar 13, 2010 5:39pm Mar 13, 2010 5:39pm
Quoting flotsom
I will learn to program and code myself if someone here could just show me the way.
We have here multitude of good coders on this forum.
Just use one and put your system to work and work for
you.
  • #6
  • Mar 14, 2010 12:55am Mar 14, 2010 12:55am
Thanks all for your replies. So excuse my ignorance, but how to I get started with this, or where do I post to find a programmer?

Let me just explain:

I trade full time and have done for two years. I make my full income each month from trading, so I know what I am doing and do it reasonably well. However, I have no idea how to run fast automated back tests.

This strategy is silly simple but I want to be able to test it over years, and make changes to the SL and TP levels multiple times to see how variations effect the results.

I would like to add the strategy program to ForexTester and let it run for maybe 5 years worth of data.

So here's the exact strategy as I am using it at the moment:

Time frame H1.
Currency: GBPUSD

Take the previous closed candle and note the high and low. If the next candle breaks the high or low of the previous candle by 1 pip, I enter the trade in that same direction.

I enter with 1% of my available account equity on every trade (rounded down).

I have a stop loss of 10 pips.
Take profit at 20 pips.
I move the stop loss up to the break even point as soon as the trade moves 10 pips in profit........ so there are 3 possible outcomes for the trade:

1, 20 pip profit
2, 10 pip loss
3, break even at zero

When any of those outcomes happens, I then set up for a new trade with the exact same rules based off the last closed candle.

I personally start the strategy from 8am GMT. So my first closed candle high and low is the 7am. I trade this through to 5pm GMT when my trading day finishes.

I would like to add a program to my forextester (uses delphi) so that I can just run the software, and the program will open and close the trades with the correct lot sizes automatically.

So is anyone willing to give this a go? As I said, doing this manually is proving to show some excellent profits, but it is not accurate enough or fast enough to gather significant data.

Any help with this is more that greatly appreciated.
  • #7
  • Mar 14, 2010 3:26am Mar 14, 2010 3:26am
In case the hourly candle does not break the high or low of the preceding hourly candle do you cancel the orders and place new orders for the last completed candle or do you leave it pending till the end of the day?
  • #8
  • Mar 14, 2010 5:21am Mar 14, 2010 5:21am
Quoting fugly
In case the hourly candle does not break the high or low of the preceding hourly candle do you cancel the orders and place new orders for the last completed candle or do you leave it pending till the end of the day?

I cancel the order if the current candle does not break the previous, and then start fresh with the next.

So for example, at 8am I am waiting for the candle to break the high or low of the 7am candle. If that does not happen, I start over with the 9am candle, waiting for it to break the 8 am candle. I never leave them pending. The orders are only completed with two directly adjacent hours.

Hope that makes sense.
  • #9
  • Mar 14, 2010 8:07am Mar 14, 2010 8:07am
flotsom hi!

I am interested in this system of looking at FX, if I am correct let it be now and if I am wrong let be instant not hours or days later
I ve been looking at the charts since I saw this thread and I have some questions as how you will do these trades

1st picture - sell opened at the red line, it did not make it to 10 so we can BE and returned up and by the bar close it did not make it to 10 pips SL and another bar opened and broke the close on the blue arrow

does that mean we can have two orders open or is it an order at a time EA you are looking at.

2nd picture - sell opened at the red line didnt make the 20 TP or the 10 BE went up and did not make the SL up and also broke the close of the previous bar opening a buy which also did not make the TP up, now on the long bar #3 came down and

would you open another sell with the first sell on bar #2 that has not hit both SL or TP or you leave to see how they play out

kos
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John 3:16 - From THIS love no power on earth can me sever.
  • #10
  • Mar 14, 2010 10:09am Mar 14, 2010 10:09am
Quoting Kosomolate
does that mean we can have two orders open or is it an order at a time EA you are looking at.

kos
Right now for my manual testing, I am doing one order at a time. So......

If the candle breaks the low of the previous candle and opens an order, but then doesn't make the TP or BE or SL, I simply close the trade for whatever profit or loss is there at the time. The sequence starts fresh with every new candle.

Also, if the new candle opens an order in one direction, and then reverses and opens an order in the other direction, that is what we go with.

As I've said this is not a holy grail, and like everything else it results in some big draw downs and I know it will not be to everyone's liking. But this is part of what I would like a program to help test: should I leave a trade open or close it if the targets are not met? Should I only open a trade in one direction per candle or both??? I'd like to be able to change the parameters and rules just to see which proves more profitable over a long period.
  • #11
  • Mar 14, 2010 12:43pm Mar 14, 2010 12:43pm
I made this EA for metatrader quickly, hope it's close to what u r looking for.

I think it will work, but there's one problem:
If price is within a stoplevel (depends on broker) away from desired price for the buystop and sellstop, the stoporder will not be put on. For this not to occure, you'll have to chose breakPips to be at least the amount of your brokers stoplevel.
Attached File(s)
File Type: mq4 1H HighLow Break.mq4   4 KB | 781 downloads
  • #12
  • Mar 14, 2010 12:56pm Mar 14, 2010 12:56pm
Quoting NowAndLater
I made this EA for metatrader quickly, hope it's close to what u r looking for.

I think it will work, but there's one problem:
If price is within a stoplevel (depends on broker) away from desired price for the buystop and sellstop, the stoporder will not be put on. For this not to occure, you'll have to chose breakPips to be at least the amount of your brokers stoplevel.
Maybe make it a hidden SL (instead of using the SL with the order, one can check in the EA wether the SL has been hit, and if so do a close order).

Also make sure you have high modelling quality when backtesting... 10 & 20 pips are tight...
  • #13
  • Mar 14, 2010 12:59pm Mar 14, 2010 12:59pm
Quoting NowAndLater
I made this EA for metatrader quickly, hope it's close to what u r looking for.

Wow! Thank you!! I will try to have a play about with this and see how it goes. I'll post on here if the strategy holds up or not.

Thanks again for taking the time to help. Very much appreciated.
  • #14
  • Mar 14, 2010 1:55pm Mar 14, 2010 1:55pm
Quoting docnavy
Maybe make it a hidden SL (instead of using the SL with the order, one can check in the EA wether the SL has been hit, and if so do a close order).
It's not the sl that is the problem, it's the entry price. If the stoporder entryprice is too close to the market (within a stoplevel) then the order will not be executed. The SL and TP is never a problem since they are always more than a stoplevel away.
  • #15
  • Mar 14, 2010 1:57pm Mar 14, 2010 1:57pm
Quoting flotsom
Wow! Thank you!! I will try to have a play about with this and see how it goes. I'll post on here if the strategy holds up or not.

Thanks again for taking the time to help. Very much appreciated.
You're welcome. But I must say that I've seen similar strategies and they usually don't work, there's no edge in this kind of setups over the long run.
  • #16
  • Mar 14, 2010 2:45pm Mar 14, 2010 2:45pm
Quoting NowAndLater
You're welcome. But I must say that I've seen similar strategies and they usually don't work, there's no edge in this kind of setups over the long run.
I agree! I would not rely on any purely mechanical system, nor an EA to do my trading. I trade full time and it is always 100% manual and discretionary. However, I am convinced that there are a million and one "systems" that are profitable to trade. It doesn't matter whether you use an MA cross over, MACD, or the frequency of a cow crapping in a field to gauge your entry off! So long as you find something that gives you the confidence to enter a trade, the profit will come from how you then manage it.

I have been testing this strategy manually, and using discretion to sometimes ignore a trade, ignore a day of trading or even a whole week, and with discretion my results are proving very good. I just would like to measure this purely off a mechanical set of rigid rules to see what kind of results it produces long run, and then it will help me decide whether to pursue this as a technique combined with my normal "intuition and gut feeling" style of trading.

I really do appreciate the help of everyone on this thread.
  • #17
  • Mar 14, 2010 3:12pm Mar 14, 2010 3:12pm
Quoting flotsom
I agree! I would not rely on any purely mechanical system, nor an EA to do my trading...
And I agree with u
  • #18
  • Mar 14, 2010 4:27pm Mar 14, 2010 4:27pm
Quoting flotsom
I agree! I would not rely on any purely mechanical system, nor an EA to do my trading. I trade full time and it is always 100% manual and discretionary. However, I am convinced that there are a million and one "systems" that are profitable to trade. It doesn't matter whether you use an MA cross over, MACD, or the frequency of a cow crapping in a field to gauge your entry off! So long as you find something that gives you the confidence to enter a trade, the profit will come from how you then manage it.
 .
Awesome system is anything that gives you the confidence to enter a trade, am i right?
  • #19
  • Edited 5:41pm Mar 14, 2010 5:29pm | Edited 5:41pm
As I pointed out in my earlier posting, converting manual to automated systems fails most of the time. Flotsam mentioned another reason - most manual systems are subject to mental filters. Sometimes experienced traders aren't even aware that they subconsciously avoid certain setups. Of course this is almost impossible to capture these "rules" in an automated system unless the trader codes it himself and keeps modifying it as he notices the flaws.

Your premise of using an automated system to find more suitable trading tactics is valid, but using it for trading without a human in control is probably not going to work. Anyway I see somebody else has coded something for you, so good luck to you. For others, my advice is don't use this system unless you are prepared to devote numerous hours, make that weeks, learning it and practising it.
  • #20
  • Mar 14, 2010 7:40pm Mar 14, 2010 7:40pm
i will try it on my real account as well.

can i use it as low as .01 lot this ea?

i will let you know the result.

thx
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