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A Simple London Breakout V.2

  • #181
  • Aug 8, 2010 10:01pm Aug 8, 2010 10:01pm
Quote
Hi,

According to your testing which pair gave the best winning rates?

Cheers

Sorry, I just did a quick visual check of this week and was adding everything together in one total. I didn't figure up individual pairs. All you have to do is go back and look at the charts yourself to see how each pair fared for the week.

Quote
Just an idea:
the use of BO/CT mode is maybe related with the ACD Method by Mark Fisher.

Thanks for the link, I'll give it a read.

Quote
I don't know if this makes things more complicated. MT4 paints its charts off the bid price by default. I think if the box were to include the ask price at the top side and the bid at the bottom, we can prevent an order being triggered if it touches the edge of the box.

We are just testing here, so changing the indicator is kind of a moot point. Besides, if you add in the ask price, all your doing is making the entry point higher and has nothing to do with the spread being taken from the trade by the broker. The box edge is only a basis for your entry only.
  • #182
  • Aug 9, 2010 3:04am Aug 9, 2010 3:04am
Attaching a nice script I found for placing 3 buy and 3 sell pending orders, seems tailor-made for this system.[/quote]

Cannot get this script going. Can you PM me?
  • #183
  • Aug 9, 2010 1:20pm Aug 9, 2010 1:20pm
Quote
Cannot get this script going. Can you PM me?

Is the journal showing anything strange?
  • #184
  • Aug 9, 2010 1:58pm Aug 9, 2010 1:58pm
Scott.

Cannot find anything weird in the journal..

Actually hilarious I cannot get it going.
  • #185
  • Aug 9, 2010 2:03pm Aug 9, 2010 2:03pm
Quoting mer071898
Just an update, the EA will have to be re-worked a little. We are having an issue where the EA is not opening new trades until all open trades are finished, mainly the ones that are carried over from previous days (which is not what we want). sqaulou said this may be difficult to code, but as always, he will diligently try his best to come up with a fix. If there are any coders out there that want to chime in, please post here or give sqaulou a pm with any ideas, thanks.
That is exactly how EA from previous thread - London Breakout EA-5.2 - is working. At the end of session time it closes/deletes buy and sell stops and leaves open positions. When next day box is formed this ea does not open new positions on the same pair. It will be great to find solution for that.
Squalou how is your work going?
Rgds.
  • #186
  • Aug 9, 2010 3:28pm Aug 9, 2010 3:28pm
Quote
That is exactly how EA from previous thread - London Breakout EA-5.2 - is working. At the end of session time it closes/deletes buy and sell stops and leaves open positions. When next day box is formed this ea does not open new positions on the same pair. It will be great to find solution for that.
Squalou how is your work going?
Rgds.

I believe he said he might have a fix for it and is working on it as we speak.
  • #187
  • Aug 9, 2010 6:00pm Aug 9, 2010 6:00pm
EVERYBODY.

The script works without flaws.
It was me that did not pay attention and finally got on track when one of my newbies complained it did not work and showed a SL error.

THAT was the solution.

FXDD live uses 4 dec, but I was testing on a FXDD demo and those have already switched per Aug. 1 to 5 dec.

Having added the extra dec, everything is ticking like a clock.

Special thanks to celticheart for trying to get it going on my platform via teamviewer.

As you see, we were VERY close, the solution was just around the corner.
  • #188
  • Aug 9, 2010 6:25pm Aug 9, 2010 6:25pm
Glad you have it working, maybe someone out there can fix it to work with either a 4 or 5 digit broker, any takers?
  • #189
  • Aug 9, 2010 8:00pm Aug 9, 2010 8:00pm
Quoting Freddyfx
FXDD live uses 4 dec, but I was testing on a FXDD demo and those have already switched per Aug. 1 to 5 dec.
Ah, so *that* was the problem! Glad you figured it out I had tried it on both my fxdd demo and live accounts and it worked, but my fxdd demo is still 4 dec. Maybe it's just fxdd malta that has switched?
  • #190
  • Aug 9, 2010 8:12pm Aug 9, 2010 8:12pm
Right, I will NEVER EVER trade forex in my life again with an USA based broker.

More then fed up with all their jokes. They claim to abide by the rules of the NFA, still move offshore as everything in the USA seems to be doing.

Don't get me wrong, in the end ALL bucketshop brokers are a headache, wherever they are located.

Now only the EA can emulate this script
  • #191
  • Aug 9, 2010 8:24pm Aug 9, 2010 8:24pm
Quote
Right, I will NEVER EVER trade forex in my life again with an USA based broker.

More then fed up with all their jokes. They claim to abide by the rules of the NFA, still move offshore as everything in the USA seems to be doing.

I am with you there, I can't stress how much the NFA idiots and all there FIFO and no hedging rules have really dragged the US brokers to their knees, it's pretty sad. Even big brokers like IBFX have started to open overseas branches.
  • #192
  • Aug 9, 2010 8:38pm Aug 9, 2010 8:38pm
Problem with IBFX (who was for many years my favorite) is that they promise and promise and it takes YEARS before it actually happens.
Talking about the International Debit Card.

Beginning this year they promised their London operation would start early March/beginning of April.

They forgot again to mention WHAT year.

Happy with whom I am and I think Malta is no war zone country.

Ready to test the trades tonight, hope I can wake up.
  • #193
  • Aug 9, 2010 9:41pm Aug 9, 2010 9:41pm
Quoting celticheart
Ah, so *that* was the problem! Glad you figured it out I had tried it on both my fxdd demo and live accounts and it worked, but my fxdd demo is still 4 dec. Maybe it's just fxdd malta that has switched?
My USA FXDD live account is still 4 decimal. I've had this account for the past 4 years.
  • #194
  • Aug 9, 2010 10:10pm Aug 9, 2010 10:10pm
Just a thought:

Does a 4th level make any sense?
  • #195
  • Edited 11:06pm Aug 9, 2010 10:18pm | Edited 11:06pm
Before we start with results this week, I am going to do something a little different. I have changed my "SessionEndTime" to 3:30 GMT to allow more time for re-entries and changed my fib length to 14 to match the end of the session time. Also, I will still be posting regular results as normal, but I will also be adding some new charts with squalou's Counter Trend option as well. You will be able to tell which chart is which as the Breakout strategy will have a "BO" in the corner and the Counter Trend will have "CT" in the corner. Understand that the Counter Trend strategy is a very basic and has not been fully developed as it only utilizes 1 trade (T1) at this time. The current rules are:

- Buy at box Low
- Sell at box High
- TP set to opposite box edge
- SL set to the BO TP1 level

Here are the results for Monday.

Eur/Usd

Breakout

T1= +24
T2= +51
T3= +77

Final Total= +152 pips

Counter Trend

T1= -24

Final Total= -24 pips

Next CT will start with a multiplier of 2.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 78 KB
Click to Enlarge Name: eurusd2.jpg Size: 77 KB
  • #196
  • Aug 9, 2010 10:19pm Aug 9, 2010 10:19pm
Gbp/Usd

Breakout

T1= +30
T2= +63
T3= +97

Final Total= +190 pips

Counter Trend

T1= -30

Final Total= -30 pips

Next CT will start with a multiplier of 2.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd.jpg Size: 79 KB
Click to Enlarge Name: gbpusd2.jpg Size: 79 KB
  • #197
  • Aug 9, 2010 10:27pm Aug 9, 2010 10:27pm
Usd/Cad

Breakout

T1= -30
T2= -30
T3= -30

Running Total= -90 pips

T1= -60 (-30 x 2)
T2= -60 (-30 x 2)
T3= -60 (-30 x 2)

Final Total= -270 pips

T1, T2, & T3 BO trades are active with a multiplier of 5.

Counter Trend

T1= +30

Running Total= +30 pips

T1= +30

Final Total= +60 pips

T1 CT trade is active with a no multiplier.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdcad.jpg Size: 79 KB
Click to Enlarge Name: usdcad2.jpg Size: 85 KB
  • #198
  • Edited Aug 10, 2010 1:47am Aug 9, 2010 10:34pm | Edited Aug 10, 2010 1:47am
Eur/Jpy

Breakout

T1= -45
T2= -45
T3= -45

Running Total= -135 pips

Re-entry

T1= +56 (+28 x 2)
T2= +120 (+60 x 2)
T3= +56 (+28 x 2)

Final Total= +97 pips

Counter Trend

T1= +45

Running Total= +45 pips

Re-entry

T1= -28

Final Total= +17 pips

Next CT trade will start with no multiplier.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpy.jpg Size: 82 KB
Click to Enlarge Name: eurjpy2.jpg Size: 80 KB
  • #199
  • Edited Aug 10, 2010 1:46am Aug 9, 2010 10:42pm | Edited Aug 10, 2010 1:46am
Gbp/Jpy

Breakout

We are starting out at a multiplier of 13 from last Friday.
T1= -637 (-49 x 13)
T2= -637 (-49 x 13)
T3= -637 (-49 x 13)

Re-entry

Running Total= -1911 pips

T1= -1666 (-49 x 34)
T2= -1666 (-49 x 34)
T3= -1666 (-49 x 34)

Re-entry

Running Total= -6909 pips

T1= +2670 (+30 x 89)
T2=+5696 (+64 x 89)
T3= +8722 (+98 x 89)

Final Total= +10,179 pips

Next BO trade will start with no multiplier.

Counter Trend

T1= +49

Running Total= +49 pips

Re-entry

T1= +49

Running Total= +98 pips

Re-entry

T1= -30

Final Total= +68 pips

Next CT trade will start with no multiplier.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpjpy.jpg Size: 85 KB
Click to Enlarge Name: gbpjpy2.jpg Size: 83 KB
  • #200
  • Edited Aug 10, 2010 1:49am Aug 9, 2010 10:58pm | Edited Aug 10, 2010 1:49am
Breakout

Eur/Usd- +152 pips
Gbp/Usd- +190 pips
Usd/cad- -270 pips
Eur/Jpy- +97 pips
Gbp/Jpy- +10,179 pips (went to a multiplier of 89)

Grand total- +10,348 pips

Counter Trend

Eur/Usd- -24 pips
Gbp/Usd- -30 pips
Usd/Cad- +60 pips
Eur/Jpy- +17 pips
Gbp/Jpy- +68 pips

Grand Total- +91 pips
Grand total for Monday- +10,439 pips


I am already looking into a similar 3 tier strategy for the Counter Trend over the course of this week. Developing this will allow us to simultaneously use 2 separate strategies on the same pair. When the pair fails to take advantage of the Breakout strategy, the Counter Trend strategy will reinforce it from the other direction. I will let you know when I have the details finalized. I do have one question, since this will technically be a separate strategy, do you want it placed in a separate thread or just blended in here?
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