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GBP/USD - one trade a day

  • #21
  • Jan 12, 2011 12:29pm Jan 12, 2011 12:29pm
I am found something inerested at this forum something unique and profitable but how can we depend on EA and does it really work with 10% profit I use xtremepipoacher and fapturbo one of the best in the market and I am getting 5% result on demo that it...........

but I am in the system would look for further updates

thanks for tweeting and creating this forum
  • #22
  • Jan 12, 2011 12:36pm Jan 12, 2011 12:36pm
Quoting aman4forex
I am found something inerested at this forum something unique and profitable but how can we depend on EA and does it really work with 10% profit I use xtremepipoacher and fapturbo one of the best in the market and I am getting 5% result on demo that it...........

but I am in the system would look for further updates

thanks for tweeting and creating this forum
The two EAs you just quoted are very poor and have a longterm negative expectation, so I'd drop them now before you lose too much.
He was looking for the card so high and wild hed never need to deal another
  • #23
  • Jan 12, 2011 9:20pm Jan 12, 2011 9:20pm
this brings an interesting thing, can a very good MM startegy make a pure strategy look better ? why should we go LONG when the trend is down in last 8 hours ? why cant we go in same direction ?

also if we do this, i would test with 5% instead of 10. also i would aim for only 5% TP in first week , not 10% as i would nt think just one trade will hit your monthly trade. stoploss would be 1.25%

if we get 5 consequitive SL (its very easy to go wrong by 20 pips at market open), then our TP target is doubled and it becomes very difficlut to get so many pips in just 1 hour. so we are waiting for that one magic trade sacrificing every day losses

its easy to back test manually for last one month and see what happens
  • #24
  • Jan 12, 2011 9:26pm Jan 12, 2011 9:26pm
Quoting roundrock
this brings an interesting thing, can a very good MM startegy make a pure strategy look better ? why should we go LONG when the trend is down in last 8 hours ?...
Sounds like an interesting variation. I'm going to stick with the way I wrote it up to see if it has merit, but definitely feel free to post in the thread how your variation is working out should you decide to test it...
  • #25
  • Edited 5:27am Jan 13, 2011 12:59am | Edited 5:27am
i tested this manually in 2010. out of 12 months, 9 months have hit 10% target. aug resulted in 7% loss, jan resulted in 16% loss. i couldnt test may month as i have some data issue. one winning month didnt give 10% but gave 6%

i stop trading in that month once monthly target is met, most of months have reached target by 15th itself. some have gone till month end. this shows we can do more experiments like continuing after target is reached , increasing 10% etc

overall looks good, i dont see any reason to change the original rules.
  • #26
  • Jan 13, 2011 1:55am Jan 13, 2011 1:55am
Quoting roundrock
this brings an interesting thing, can a very good MM startegy make a pure strategy look better ?

Personally I think MM strategy is the KEY in FX
He was looking for the card so high and wild hed never need to deal another
  • #27
  • Jan 13, 2011 5:11am Jan 13, 2011 5:11am
Quoting roundrock
here is a quick EA i wrote as per original rules.

i tested this in 2010. out of 12 months, 9 months have hit 10% target. aug resulted in 7% loss, jan resulted in 16% loss. i couldnt test may month as i have some data issue. one winning month didnt give 10% but gave 6%

i stop trading in that month once monthly target is met, most of months have reached target by 15th itself. some have gone till month end. this shows we can do more experiments like continuing after target is reached , increasing 10% etc

its easy to do backtest, pl do it...
roundrock,

While I appreciate your work, please read the very last sentence of the first post. I have requested that nobody post an EA in this thread to avoid turning it in to a support thread. Would you please edit your post to remove the EA and post it in a separate thread?

Thank you.
  • #28
  • Jan 13, 2011 5:30am Jan 13, 2011 5:30am
as per my initial tests, i found continuing trading even after monthly target is met is a better option. there are few instances , where monthly target is met on first day itself.

also this strategy with these settings didnt work on EU.
  • #29
  • Jan 13, 2011 5:45am Jan 13, 2011 5:45am
Quoting roundrock
as per my initial tests, i found continuing trading even after monthly target is met is a better option. there are few instances , where monthly target is met on first day itself.

also this strategy with these settings didnt work on EU.
I'd be interested to see what the max gain could be.

Thanks for the edit above - I think that will help us stay on track with the strategy and variations and not get tied up in "can you make the EA do this" or "I can't get the EA to run" kind of stuff...
  • #30
  • Jan 13, 2011 5:49am Jan 13, 2011 5:49am
Took 8 pips last night (thought there was again an issue with my workstation, so this wasn't accurate for the system, but I am moving forward with the results I get while I work out my technical issues).

Gain of 0.48% so far for the month.
9.52% remain until target
Tomorrow's r/r: 1:3.8
Tomorrow's TP target: 76 pips.
  • #31
  • Jan 13, 2011 6:09am Jan 13, 2011 6:09am
Quoting cgrey
I'd be interested to see what the max gain could be.

Thanks for the edit above - I think that will help us stay on track with the strategy and variations and not get tied up in "can you make the EA do this" or "I can't get the EA to run" kind of stuff...
in 2010, without stopping after 10% rule, 10k became 22k.

with stopping rule, 10k became 16k.

similar results in 2009, 2008

btw, we already reached 10% profit if you count from jan 01
  • #32
  • Jan 13, 2011 8:33am Jan 13, 2011 8:33am
Quoting roundrock
btw, we already reached 10% profit if you count from jan 01
Yeah, it was right after that happened that I decided to share this with the forum...
  • #33
  • Jan 13, 2011 9:22am Jan 13, 2011 9:22am
Quoting dr_who
Personally I think MM strategy is the KEY in FX
Couldn't agree more. This is a business, and you need to know how you will keep your business running next week, next month, next year. Capital preservation is more important than anything else.
  • #34
  • Jan 13, 2011 10:18am Jan 13, 2011 10:18am
I see a system what make me to take an Eye on it thanks for share that.

please , may I miss something, but why the last trade close at 11:00 clock candle today. I read to close every trade on 9:00

thanks

cheers
  • #35
  • Jan 13, 2011 10:26am Jan 13, 2011 10:26am
Quoting punisher
I see a system what make me to take an Eye on it thanks for share that.

please , may I miss something, but why the last trade close at 11:00 clock candle today. I read to close every trade on 9:00

thanks

cheers
I mentioned earlier, I had some technical issues today (my trades are automated, because I am not awake at 08:00GMT). But yes, the trade should always be closed at 09:00GMT if it hasn't hit TP or SL.
  • #36
  • Jan 13, 2011 10:41am Jan 13, 2011 10:41am
Quoting cgrey
I mentioned earlier, I had some technical issues today (my trades are automated, because I am not awake at 08:00GMT). But yes, the trade should always be closed at 09:00GMT if it hasn't hit TP or SL.
sorry I miss that, I'm in Asia, here it is late already 23:40, I'm tired also :-)

cheers
  • #37
  • Jan 13, 2011 10:47am Jan 13, 2011 10:47am
I made a comment about this that was buried inside another post, but it really should be made clear, ESPECIALLY for new traders....

This "system" is really not "trading". It's gambling. Yes, we are taking advantage of a probability, and yes we are applying some creative money management to hopefully profit from this discovery. But at the end of the day, it's a "bet" that something which has happened in the past will continue to happen. There is no foundation, analysis, or "strategy" behind this.

All of this said, "trading" in the true sense, requires committment. It requires study.

I posted this because it was something that I discoverd while studying charts. Hopefully it will turn out to be profitable and become a tool for traders to use. But don't think for a second that you can simply apply this method every day and you will become a successful trader. In the end, you will have learned nothing. And if/when the day comes that this no longer works, you'll be right back where you started - looking for the next "system" or "get rich quick" magic bullet.

So, use this. Experiment with it. Maybe even trade it WITH A SMALL ACCOUNT if you think it will work for you. But don't let it be a substitute for education. Real trading success will take a lot more than this or any other "system" that you will find here or anywhere else. Studying the markets, developing a technically and fundamentally sound plan, and applying that plan every single day is the only way you will truly succeed.
  • #38
  • Jan 13, 2011 10:48am Jan 13, 2011 10:48am
Quoting punisher
sorry I miss that, I'm in Asia, here it is late already 23:40, I'm tired also :-)

cheers
I'm tired all the time - I know the feeling
  • #39
  • Jan 13, 2011 11:00am Jan 13, 2011 11:00am
I think in the last trade has used a sl of 30 instead of 20
regards
  • #40
  • Jan 13, 2011 12:41pm Jan 13, 2011 12:41pm
Quoting isia
I think in the last trade has used a sl of 30 instead of 20
regards
Good observation.... I didn't mention this because this is done by my EA. I want to keep this thread on the topic of the "system" and not focus on the EA (which is also why I haven't posted it), but here's what is happening and why you see that:

My EA manages the 20-pip SL and whatever the TP is internally. The order will be closed (by the "rules") if it reaches -20 pips or the "target" TP. The SL and TP that are actually sent with the order by my EA are 10-pips above/below.

It won't affect the system - technically speaking, the SL and TP that show up in the myfxbook log should NEVER be hit unless my computer gets disconnected from the intenet and can't manage the trade (and therefore, the trade isn't out there without a SL and can't blow the account if I'm disconnected). Funny, I was disconnected last night (which is what caused my issues earlier), so while this didn't come in to play, it is exactly the reason this is in there.
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