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Simple H1 GBPUSD EA

  • #2,261
  • May 12, 2010 4:04pm May 12, 2010 4:04pm
Quoting tdion
Hi.

I have backtests through 1992 and I think they are absolutely necessary. The more market conditions you can survive through.... the more realistic your assessment of the EA becomes. A few months testing only shows market conditions for a few months, which is sure to change.

Chaio.
Well you just shot yourself in the foot friend!

As you rightly say, market conditions are sure to change within a few months!

So what is the point of looking back years!
  • #2,262
  • May 12, 2010 4:05pm May 12, 2010 4:05pm
Really hmm.
Thanks for the answer.
I guess that raises another interesting question. When you are backtesting this, are you backtesting it on m5?
As far as I know, mt4 will not obtain data from a lower timeframe when backtesting (even forward testing for that matter). So I am not sure how it's possible to run it on h1, yet get fractals for m5 and m15.
Look forward to being proven wrong for sure, i guess its possible just mtf indicators can't do it, but maybe an ea can if the code is done right?
  • #2,263
  • May 12, 2010 4:07pm May 12, 2010 4:07pm
Where is my mate Elovv tonight?

It looks like we have a good chance of short trades tonight!

Let's hope it's the right choice!
  • #2,264
  • May 12, 2010 4:12pm May 12, 2010 4:12pm
Quoting tazmaan
Really hmm.
Thanks for the answer.
I guess that raises another interesting question. When you are backtesting this, are you backtesting it on m5?
As far as I know, mt4 will not obtain data from a lower timeframe when backtesting (even forward testing for that matter). So I am not sure how it's possible to run it on h1, yet get fractals for m5 and m15.
Look forward to being proven wrong for sure, i guess its possible just mtf indicators can't do it, but maybe an ea can if the code is done right?
I don't think this this is correct, MT4 can obtain data from any timeframe and any currency pair and the back testing is done with H1.

Backtesting would not work at all if what you say is true!

Indicators are of little use, PA is the only way to go!
  • #2,265
  • May 12, 2010 4:13pm May 12, 2010 4:13pm
Quoting Neller
i have it on so lets see how it works

Thanks allot
  • #2,266
  • May 12, 2010 4:19pm May 12, 2010 4:19pm
Now Iam a trader not a programmer and backtesting is foreign to me, so I will let you talk about the merits of backtesting...

All I know is this EA has worked well so far , on my live account....and it works in very well with my manual trading..

So great job Geoff......well done mate.
  • #2,267
  • May 12, 2010 4:31pm May 12, 2010 4:31pm
Quoting calstock
Now Iam a trader not a programmer and backtesting is foreign to me, so I will let you talk about the merits of backtesting...

All I know is this EA has worked well so far , on my live account....and it works in very well with my manual trading..

So great job Geoff......well done mate.
I'm pitching a perfect game at a buck a pip. I'm at a loss as to why anyone would want to kill the goose that lays the golden egg. Absolutely a great job and a million thanks.
If you're scared get a dog.
  • #2,268
  • May 12, 2010 4:39pm May 12, 2010 4:39pm
Not in any way trying to kill any gooses here, sorry if i came across that way.
  • #2,269
  • May 12, 2010 4:40pm May 12, 2010 4:40pm
Quoting calstock
Now Iam a trader not a programmer and backtesting is foreign to me, so I will let you talk about the merits of backtesting...

All I know is this EA has worked well so far , on my live account....and it works in very well with my manual trading..

So great job Geoff......well done mate.
Many thank calstock!

I hope you don't mind but I dropped your handle to another member who is interested in manually trading this strategy, I told him to look out for your posts.
  • #2,270
  • May 12, 2010 4:44pm May 12, 2010 4:44pm
Quoting Boxxie
I'm pitching a perfect game at a buck a pip. I'm at a loss as to why anyone would want to kill the goose that lays the golden egg. Absolutely a great job and a million thanks.
Some people are never satisfied!

They get a free EA that works and all they want to do is trash it!

I've paid hundreds of dollars for the "Greatest Robots Ever" that all turn out to be cr@p!
  • #2,271
  • May 12, 2010 4:45pm May 12, 2010 4:45pm
Quoting tazmaan
Not in any way trying to kill any gooses here, sorry if i came across that way.
I don't think they are talking about you post!
  • #2,272
  • May 12, 2010 4:50pm May 12, 2010 4:50pm
V7 is good stuff! :~))
I have an EA that I developed that runs close to this so I know your work is legit
Thanks again
Scott
  • #2,273
  • May 12, 2010 5:01pm May 12, 2010 5:01pm
Quoting geoffb65
I don't think they are talking about you post!
It was a general observation, nothing personal at all. My regrets if it was taken that way.
If you're scared get a dog.
  • #2,274
  • May 12, 2010 5:03pm May 12, 2010 5:03pm
Good morning everyone!

GBP/USD
11/05/2010 18.40 1st der -0.60
12/05/2010 16.85 1st der -1.55 2nd der -0.95
13/05/2010 15.25 1st der -1.60 2nd der -0.05

suggests switch from v7 to 5a/b

happy trading everyone....
  • #2,275
  • May 12, 2010 5:04pm May 12, 2010 5:04pm
Quote
For the entry point the EA looks at fractals on the M5 chart during the 23:00 H1 bar. If the SMA's agree for a long entry we look for a locked low fractal on the M5 chart for the entry point.

By locked, this is important, you must wait for the third M5 bar after the fractal is drawn because fractals can redraw before the third bar!

Geoff, to trade this manually, I would be interested in seeing a chart illustrating what the locked low fractal looks like. Or at least where could I read up on this? (I've looked at the fractal SR and fractal channels on the chart just for fun)
  • #2,276
  • May 12, 2010 5:25pm May 12, 2010 5:25pm
Quote
paws
Quote
Geoff, to trade this manually

In my view, I think you would struggle to trade this method manually as the EA trade's..

Fractal's ( is only a candle pattern ) and only one indication of price action.

How I approach it, when the EA has entered the trade I wait for the retracement..( this will happen often as the EA opens a trade as the volume of the new candle comes in ) therefore it often opens a position at a new high/low ( as we know, the Market Makers use this time to form false breakouts, I have many files on the chart patterns etc used by them to create better positions for themselves to enter the market and also to suck the money from the retail trader )

The method then is to enter pending orders so the trade opens these as it moves back to the EA open position....

Now as this is based on price action I doubt that a EA can be coded to trade this way...therefore as I said I belive the EA method cannot be traded excatlly as its coded..

However this EA so far has performed very well and I see no reason why you can not use it as is.....just be carefull to use money mangement because of the possible drawdown...

Sorry geoff for getting a bit of subject.....now back to trading the EA..

  • #2,277
  • May 12, 2010 5:27pm May 12, 2010 5:27pm
Hye Geoff & Every Nice Person Here,

Is it just me or everyone, that this EA did not trade since the last 24 hours..

  • #2,278
  • May 12, 2010 5:49pm May 12, 2010 5:49pm
Quoting geoffb65
Where is my mate Elovv tonight?

It looks like we have a good chance of short trades tonight!

Let's hope it's the right choice!
Oh, i am not Elovv, can i reply your post?

Just kidding.

My live with MIG just fired short trades half an hour ago @ 00:10 GMT+1

福 子 Victor V
  • #2,279
  • May 12, 2010 5:51pm May 12, 2010 5:51pm
Quoting bee7244
Hye Geoff & Every Nice Person Here,

Is it just me or everyone, that this EA did not trade since the last 24 hours..

Normal.

If you see no trade, check the slope of SMA10 and SMA197. If they are in disagreement, no trade means EA is working as intended.

福 子 Victor V
  • #2,280
  • May 12, 2010 5:53pm May 12, 2010 5:53pm
I want to say a few things.

First, I really like your enthusiasm and motivation.

Now what I'm seeing here is an attempt at a one hit wonder. You hope to run your account up while there's still water in the well. Have you planned what critieria you will use to stop trading this EA?

I surely don't want to tell you what to do, so don't take it that way. As for me, I use strategies that overall worked well for decades. I am not in a strategy for a few flash in the pan months of profit.

Good luck.

Quoting geoffb65
Well you just shot yourself in the foot friend!

As you rightly say, market conditions are sure to change within a few months!

So what is the point of looking back years!
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