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A Simple London Breakout

  • #701
  • May 15, 2010 3:37am May 15, 2010 3:37am
Here are the totals for the week for each pair. Now keep in mind the issues in Greece and the stock market drop at the end of last week played havoc on the market for this weeks trading activity.

Eur/Usd- +158 pips
Gbp/Usd- +93 pips
Usd/Chf- +145 pips
Gbp/Chf- +867 pips
Usd/Jpy- -47 pips
Eur/Jpy- No trades
Gbp/Jpy- No trades

Total for the week- +1216 pips

It's very obvious the big winner this week was the Gbp/Chf, probably due to the larger range and being a Gbp pair. Usd/Jpy was the loser this week as the only pair in negative numbers. Again, this is probably due to the fact it has probably the smallest range of the seven pairs tested and doesn't provide as much movement outside of the Asian session.

Due to last weeks bad news, ranges for Eur/Jpy and Gbp/Jpy were extremely high and we had red boxes all week. If this trend continues, I will have to evaluate and raise the "MaxBoxSize" to coincide better with the daily ranges. For example, if we would've changed Eur/Jpy to an 80 pips box size and Gbp/Jpy to a 100 pip box size, we would have made an additional +381 pips. (See pics)

I'll leave the box sizes alone for now and see how next weeks results turn out.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpy new.jpg Size: 128 KB
Click to Enlarge Name: gbpjpy new.jpg Size: 129 KB
  • #702
  • May 15, 2010 4:01am May 15, 2010 4:01am
Congratulations Mer & thanks again for introducing this method, i've make +140 pips for 1st 2 weeks in May & about the same last 2 weeks in April. I just a conservative trade on GBPUSD only with my settings posted earlier. Just a decipline & PO for the day that allowes to trade. Win more than loss.

  • #703
  • May 15, 2010 4:14am May 15, 2010 4:14am
Squalou
Hello.
I use script version 3. Works beautiful.
I would like to ask you.
Is there any possibility to make in script function like Open Only Short or Only long?

Sometimes is good when I see support or resistance levels to open only one direction pending orders.
  • #704
  • May 15, 2010 4:36am May 15, 2010 4:36am
Hi all! I just wanted to share with you the results I got from yesterday (friday) using Squalou EA.

It started awfully bad the day with all pairs giving a buy signal just to reverse and head straight down to buy stop losses. In about 1 hour all the gains from last week were wiped out (25% of total account balance). I left for work and when I arrived in the night not only it recovered all the losses but had even made a very good profit! No Martingale used.

My settings are 50 pips max box size, box times 03-06, entry point 0.8 take profit 2.60. For GPB/JPY I use 60 pips maxboxsize. Micro lots with 0.02 - OCO false - unlimited trades - 2 losses maximum fo the day.

Take a look at the statement from yesterday - the recovery was amazing! Check page 2 of the attached pdf for the equity curve.

I just have a suggestion and I would like to hear your thoughts. After the buy signals the PA moved quickly to stop loss and since I am using the close half-position when in profit it's very difficult to recover all the losses because stop loss goes activated with 0.02 lots but take profit closes 0.01 lot at half way and the other 0.01 lot on take profit level. So your will recoup 1.5 of total loss for each winning trade.

What do you think of putting the option to close also half position (0.01 lot) in the middle of the way to the stop-loss and close the other 0.01 if it hits full stop-loss target? Woudn't this be more secure in days like yesterday that PA touched buy levels and headed down for the rest of the day?
Attached File(s)
File Type: pdf DetailedStatement.pdf   54 KB | 885 downloads
  • #705
  • May 15, 2010 6:53am May 15, 2010 6:53am
Quoting Leeson
Hi all! I just wanted to share with you the results I got from yesterday (friday) using Squalou EA.

It started awfully bad the day with all pairs giving a buy signal just to reverse and head straight down to buy stop losses. In about 1 hour all the gains from last week were wiped out (25% of total account balance). I left for work and when I arrived in the night not only it recovered all the losses but had even made a very good profit! No Martingale used.

My settings are 50 pips max box size, box times 03-06, [b]entry point 0.8 take profit...
can you explain these numbers ? 0.8, 2.6
  • #706
  • May 15, 2010 7:21am May 15, 2010 7:21am
Quoting stace
Squalou
Hello.
I use script version 3. Works beautiful.
I would like to ask you.
Is there any possibility to make in script function like Open Only Short or Only long?

Sometimes is good when I see support or resistance levels to open only one direction pending orders.
When you load the script in the common tab there is a box for long & short which is the default and long only short only. That would be the easy way to do what you want
  • #707
  • May 15, 2010 8:21am May 15, 2010 8:21am
Quoting Leeson
Hi all! I just wanted to share with you the results I got from yesterday (friday) using Squalou EA.

It started awfully bad the day with all pairs giving a buy signal just to reverse and head straight down to buy stop losses. In about 1 hour all the gains from last week were wiped out (25% of total account balance). I left for work and when I arrived in the night not only it recovered all the losses but had even made a very good profit! No Martingale used.

My settings are 50 pips max box size, box times 03-06, entry point 0.8 take profit 2.60....
wow that was a good week for you.. i am just curious about your account. is it a live account? or a demo ?.. and how about your broker investtechfx, is it good?
  • #708
  • May 15, 2010 9:21am May 15, 2010 9:21am
Quoting mer071898
Here are the totals for the week for each pair. Now keep in mind the issues in Greece and the stock market drop at the end of last week played havoc on the market for this weeks trading activity.

Eur/Usd- +158 pips
Gbp/Usd- +93 pips
Usd/Chf- +145 pips
Gbp/Chf- +867 pips
[color=blue]Usd/Jpy- -47 pips
[color=blue]Eur/Jpy- No trades
[color=blue]Gbp/Jpy-...
Hello Mer,

great overview - are you trading this already live or on a demo account?

Bambo0
  • #709
  • May 15, 2010 9:29am May 15, 2010 9:29am
Quoting dryclean
When you load the script in the common tab there is a box for long & short which is the default and long only short only. That would be the easy way to do what you want
Thanks I will try it.
  • #710
  • May 15, 2010 9:49am May 15, 2010 9:49am
Quoting roundrock
can you explain these numbers ? 0.8, 2.6
Sure.

In the indicator LondonBreakoutV9.1 made by Squalou I use the new values given by Mer:

EntryFactor: 0.8
TPFactor: 2.6

Those are the values the EA will use to define buy/sell signal and SL/TP.
  • #711
  • Edited 10:20am May 15, 2010 10:04am | Edited 10:20am
Quoting sangmane
Here is my thought:
1. Trader A forward-test a strategy starting from 2010.04.01 till 2010.04.30.
2. At 2010.05.01, Trader B back-test the same strategy using historical data from 2010.04.01 - 2010.04.30.

Assuming the history data are valid for the strategy, I think both Trader A and Trader B will get the same result
Quoting xmph
What is flawed is what's made by human .. in our case the EA and indis (assuming the backtesting engine is not too bad) ... Backtesting helps in identifying coding flaws created by human mistakes and eventually, improving on strategies.

Not understanding backtesting means 2 things:
- whether you're logic and coding is undeniable although you have no clue what's happening in the market (considering you would have to develop a strategy out-of nothing not to be biased by historical datasets - or it would be similar to backtesting .... Ooooops)
- or...
Not sure what you are trying to say here.
Obviously unless you are also logging the spread over the test period and somehow feeding it into your back tester, any back test & forward test results will be different. If you are interested to see how much spread can alter over a trading day check here - http://www.mt4i.com/spread - this is not even considering differences caused by re-quotes, disconnects etc.

My point was that back testing is only useful for checking coding logic as you rightly say - and nothing else. So many newbies assume because a back test has 90% quality & a nice upwards graph an EA will be profitable when live.

To make things even tougher for 'real' automated trading, all data coming in from brokers is different - see attached (two feeds superimposed). You will even find that data from the same broker, but from a different server varies. There are many examples in other threads of live & demo results differing between brokers - http://www.forexfactory.com/showpost...postcount=5096

IMHO there is only one way to test an EA and that is on a small live account on the broker you eventually want to use. Yes, it will cost you a small amount of money but at least you will be getting back some useful data.

Hope this post gives food for thought -
Attached Image (click to enlarge)
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  • #712
  • May 15, 2010 10:16am May 15, 2010 10:16am
Quoting kesterpogz
wow that was a good week for you.. i am just curious about your account. is it a live account? or a demo ?.. and how about your broker investtechfx, is it good?
It's a live account.

Opened with 150 USD on the 2010/05/03 to try Mer strategy and also to try Squalou EA and Indicator (thanks to both of you for your great work! ).

With 7 days trading (the first two days were spent testing several variables in the indicator ) and the other 5 with the final settings balance has risen from the original 150 USD to 223 USD yesterday.

The broker I choose for this live test account was investtechfx. They say in their home page 1 pip spread on majors but I don't see that, I see 2 pips spread... perhaps because I have a micro account. They also charge 10 cents commission for each 0.01 lot so in fact, this makes each trade a 3 pip spread. 2 pips is the regular spread, to pay for the commission you need to make an extra pip in profit.

Also one thing I dislike on them is that limit orders, take profits and stop loss orders are only accepted if they are at least 20 pips away from current PA.

Sometimes some of the EA's orders arent accepted because they aren't 20 pips away from current PA.

Because of this yesterday EA buy order in USD/CAD was rejected because the box formed had 13 pips only. If the order was accepted it would hit take profit for 24 pips...

The good thing about them is that it's very easy to open the account, all paperwork is made online, in about two hours time you can start trading live if you make your initial deposit by PayPal like I did.

Don't know if it's easy to get money from them because I still didn't ask for a wire to my account, this is another story and usually it's here that issues arise... Also, in a few days happened when the EA fire all the orders in the beginning of the trade period, some orders are refused because "trade context is busy" error, don't know if it's generated because a lot of orders are sent at the same time by the EA... On manual closing I got twice re-quote also, but never in my favor...

So in the end, I think this strategy is really good, because with all this handicaps created by this broker it still managed to make my balance grow around 70 USD with 7 days trading. Now imagine how much more one can make with a commission free/no stupid PA rules broker...
  • #713
  • May 15, 2010 3:07pm May 15, 2010 3:07pm
Quoting Leeson
... some orders are refused because "trade context is busy" error, don't know if it's generated because a lot of orders are sent at the same time by the EA...
yes that's because too many trades are sent simultaneously.
I have fixed it in my beta-test version that will come out soon.
All orders will be sent using a "reliable" version of the trade functions...
Coming soon...

Sq
  • #714
  • May 15, 2010 9:52pm May 15, 2010 9:52pm
Hi Mer or anyone,

Can you please send me the latest template? I'm sorry, but I accidentally deleted it and can't find the new larger settings for manual trading??

--------NEVERMIND, I had forgotten this was all through an indicator... Sorry.
We are our own best indicator.
  • #715
  • May 16, 2010 1:23am May 16, 2010 1:23am
Quote
Hello Mer,

great overview - are you trading this already live or on a demo account?

This is only on demo for now. I don't even think about placing a strategy on a live account until it is fully tested and all the kinks in the settings are worked out.

Quote
Sure.

In the indicator LondonBreakoutV9.1 made by Squalou I use the new values given by Mer:

EntryFactor: 0.8
TPFactor: 2.6

Those are the values the EA will use to define buy/sell signal and SL/TP.

Actually the values I use are .8 and 2.618.
  • #716
  • May 16, 2010 10:55am May 16, 2010 10:55am
Quoting mer071898
This is only on demo for now. I don't even think about placing a strategy on a live account until it is fully tested and all the kinks in the settings are worked out.



Actually the values I use are .8 and 2.618.


Thank you for this correction, I was convinced it was 2.60...
  • #717
  • May 16, 2010 4:24pm May 16, 2010 4:24pm
Hi SQ anyone...

I have it all setup, and turned it on this afternoon (MST USA) (probably your evening) and it already drawing the boxes for the breakouts and trying to put the limit orders in.

I am using Forex.com (GMT), have my V9.1 indicator set for 03-06 and this is the first time I have used this V3 EA!

This is most likely my error on not using it properly, but just getting it set up for EA, thanks!
Attached Image (click to enlarge)
Click to Enlarge Name: v3.gif Size: 147 KB
Attached File(s)
File Type: txt v3 set file.set.txt   < 1 KB | 449 downloads
We are our own best indicator.
  • #718
  • May 16, 2010 6:53pm May 16, 2010 6:53pm
Quoting bluemele
Hi SQ anyone...

I have it all setup, and turned it on this afternoon (MST USA) (probably your evening) and it already drawing the boxes for the breakouts and trying to put the limit orders in.

I am using Forex.com (GMT), have my V9.1 indicator set for 03-06 and this is the first time I have used this V3 EA!

This is most likely my error on not using it properly, but just getting it set up for EA, thanks!

Bluemele,

i think you have the same issue as reported in post
http://www.forexfactory.com/showpost...&postcount=663

I will update the EA soon.

SQ.
  • #719
  • May 16, 2010 7:16pm May 16, 2010 7:16pm
Quoting squalou
Bluemele,

i think you have the same issue as reported in post
http://www.forexfactory.com/showpost...&postcount=663

I will update the EA soon.

SQ.
Great, that was it. Sorry for the trouble...

We are our own best indicator.
  • #720
  • May 17, 2010 5:15am May 17, 2010 5:15am
Hello ,

Can you help me with this problem? I have started ea but got only sell stop orders. There is no buy stop order? What is the problem?

Thank you in advance for your help.
RL
Attached Image (click to enlarge)
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