Brijon Concept of Threes auto trading robot by Steve Hopwood

Only if you use the trading hours.

I've successfully closed 24 trades for a profit around 240 pips but have 8 open trades losing around 500 pips (one of which is currently 18 times higher than the average profit). I don't have an SL and am using the EA OOTB. This tells me that its probably best to set an SL at some stage.

However, I suspect this EA has a longterm negative expectation and is probably best to use as Brijon does, as a manual indicator and only trade when other things confirm the signals.

GMT -5 . . . .EST

Latest update in post 1.

I have added LSMA trade-direction confirmation. Details in the automated trade-direction section of post 1.

Brian,

Not sure to follow you here...

I suppose red=sell and green=Buy in your example.
And the numbers are the lotsizes for each pair.
Did you just "mkae" these numbers for your example, or should they mean anything ?

The "DollarIndex" equivalent basket is

-0.576*EURUSD + 0.136*USDJPY - 0.119*GBPUSD + 0.091*USDCAD + 0.042*USDSEK + 0.036*USDCHF"

where "-" means Sell and "+" means Buy;

This is what is in the DollarIndexBasket.csv file that i posted.

You can either copy/paste that "basket definition" line right into the "BasketPairs" input to get the same result (leave "BasketFile" empty then, otherwize the indi will look for the file and ignore "BasketPairs").

Sq

i was interested how you obtained your .0576
was it based on 101s weighted lot sizes as used in weighting calculations by him

only a question . for my own information

THE NUMBERS I POSTED WERE TAKEN FROM a spread sheet of 101s showing weighted lot sizes

sorry if i confused you

from BRIAN

Brian,

Those coefficients are directly taken out of the DollarIndex indicator code.
Although the DollarIndex uses those coeffs as "power-of" the Pair Close prices, in fact you can use them as simple multiplier coefficients.
I believe the math would demonstrate that using "power-of" or "multiply-by" give roughly the same results when the variations in the values (successive close prices) are negligeable compared to the absolute value themselves (sort-of...).
Well, at least graphically we can "see" that both lines overlap almost exactly when you plot both on the same window, so the math is not far from begin true...

Sq

Get the above error can i remove this symbol from the calculations as i do not have this with my broker

as this is based on my 3mw THREAD

i think i should review where we are in your understanding of the concept so far

we now can see the forest , the trees and leaves

the trend in monthly weekly daily 4 hour frame and the 15 minute frame

and with briansinside bar the entry based on now

nothing else we have a system ea that generates signals to fulfill the basis of the start of 3mw

so we have the first understanding of the complex not the actual trading

so its premature to talk of drawdowns number of trades till the users of this ea

understand were we are in the stage of the eas developement

we have at the present a trend trader nothing more nothing less

think about it a very good trend trader that will experience drawdowns during volatile moments it will fullfill the requirements of cyclic trading loss profit loss, the basis of trading this ea at this stage could be used as a basis of any good trading system that uses the developement of this to then trade your favourite system or indicater

the actual system of 3 mw is a logic trader system of trading by markfisher but my variation of it USING THREES INSIDEBAR AS THE ACD

THREE USED IT SIMULAR BUT A FRACTAL BREAKOUT OF THE RANGE

IS AN EXAMPLE OF THESE LAST 2 TRADES PROFITS

SO UNLESS YOU HAVE A BASIC UNDERSTANDING

OF THE CONCEPTS OF SEEING THE FOREST THE TREES THE BRANCHES THE LEAVES THEN THE 15 MIN FRAME THEN MW NOW
THREES SYSTEM

you are using a pure trend trading system with the trading range idenified

AT THIS STAGE THE EA IS A SYSTEM THAT COULD BE A SIGNAL FOR YOU TO TRADE ANY SYSTEM YOU LIKE AS WE HAVE WITH THE SQUARE THE TIME FRAME TRADING RANGE TREND OF ANY SYTEM YOU LIKE

AMAZING 3 MW IS A SYSTEM THAT LOOKS AT THE TREND IN MINUTE DETAIL I USE

as steve has done the trend identification in all those time

he has identified the trading range identification and the square for all time frames

he has included the now range with briansinside bar to use with now trading

so these are identification areas of the ea currently

the trading of the ea is possible entry points to use with any system or indicater at this stage

i use acd system my modification and my crazy way of trading

using cyclic trading loss profit loss

so paitence time and now price loss profit loss

from this screen snapshot shows the cycle over a longer frame of the 2 last longer time trade cycles

i control my trades on and drawdowns to tight limits usually under 3 % of account size max 15% acceptable 10%

i use normal buisness methods applied to the forex for account management

i hope this clears up 3mw the ea and were i think the ea is at
this stage in relationship to the amazing 3mw now concept as i see it

i think if all that use the ea have a greater understanding of STEVES
WORK AND HIS TEAM OF THE EA

THE BETTER YOU WILL BE ABLE TO APPLY IT TO YOUR TRADING IN MY OPINION

HERE IS TRADES SO FAR BUT IM DOING THESE TRADES IN BETWEEN A BUSY SHEDUAL OVER THE NEXT FEW WEEKS

SO YOU CAN SEE AND USE THE EA WITH A GREATER UNDERSTANDING OF IT

current profit trades note last two cyclic time trades

FROM BRIAN

i used a diff broker and got it to work , i have a red line with levels and a blue verticle line -do i need to add the dolar index ove this - no sure how to read it

This seems a bit like the PeterCrowns DIBS method.
http://www.forexfactory.com/showthread.php?t=86766

Establish a trend, Peter used 1 hr charts, maybe 4hr is even better.

Look for the trend and look for the inside bar. When you get the breakout of the previous engulfing bar, take the trade. Once you hit your modest target, you sell half your position, then move your SL to your entry point. Then let the remaining position run as a "free" trade. Of course there is more.

I see similarity between Brijon's and the DIBS.

i noticed in discussions with many top traders , the suprising simularities
we all use , i dont know peter crowns method , but i imagine the simularities the top traders use are more than the things that seperate us from each other

call a fractal a double top double bottom supply demand ect ect


there is no right or wrong way to trade , it is simple what works for you and your belief in it thats the most important aspect i think

i know what works for me , but for others something may work better

i encourage all to find there nirvanna of trading , read other great threads and learn from others , im still learning

thank you for your post

FROM BRIAN

quote=MurphyMan;4435625]This seems a bit like the PeterCrowns DIBS method.
http://www.forexfactory.com/showthread.php?t=86766

Establish a trend, Peter used 1 hr charts, maybe 4hr is even better.

Look for the trend and look for the inside bar. When you get the breakout of the previous engulfing bar, take the trade. Once you hit your modest target, you sell half your position, then move your SL to your entry point. Then let the remaining position run as a "free" trade. Of course there is more.

I see similarity between Brijon's and the DIBS.[/quote]

You can replace USDSEK with USDNOK.
Or you can drop it, it only accounts for around 4% in the total DollarIndex anyway, you will not even notice it.
(EU alone represents 58% of DXI...)

Once you have it loaded, it takes some time for mt4 to load the history for all the used pairs, so you can forrce it to reload (and update) by going to the Charts Indicators list (ctrl-I), open the BasketProfit, then "OK".
It should update the line.

SQ

you can follow as i trade here isthe screen snap shot

wait acd logic trading cyclic trading ,

one needs to be paitent

not greedy

from BRIAN

Think patience not greed watch the price loss profit loss

indicater free trading

from brian

HI BRIAN

With regard to your two trading time periods. I notice the trades are entered between 04:00 to 09:00. Are these Adelaide times or GMT? Can you briefly let us know what s your ideal time to enter trades and closing trades.

Kind regards & God Bless

P.S. How is the packing comming on?

Not much time but quick in and out

i trade the times to fit im with my life and how busy i am

usualy between 4 am to 8pm adelaide time

in between my social life gardening packing ect

so when we are europe i do the same , so times dont worry me i ajust to the curent volatility of now

so if volatility is high you make more money (pips per trade)
hope that answer helps

Cheers Brian, yes it does help. Put it simply trading times do NOT matter, as long as there is VOLATILITY and LIQUIDITY (as per mark Fisher's ACD method), there is profit.
Bless you