Ronnierott's 1 Hour Strategy

BUY EURUSD 0.1 LOT @ 1.42803
SL @ 1.42303
TP @ 1.43303

http://img863.imageshack.us/img863/9137/30052011.gif

regards
.Hawk.

How do You do with this strategi? I have IBFX demo, trade Ronnierots 4 pair with his original settings (trade 24 h, not 06-18), use Jubus EA, risk 2%/trade.
Im up 7%, tradestart 29/4.
Elovv

Where are everybody? Is it just me love this system? Always trade with trend, not much drawdown.
Elovv

Hi Elovv,
I have added a spread for longs input. I just want to wait for Jubu to say it's ok to post it. Is that ok Jubu?
Also, I want to use the EA on the 15 min chart using the settings Ronnie suggested on page 12 of this thread. If I had a 1hr chart open with the EA on, and also a separate 15m chart of the same instrument open with the EA on would this work ok or would there be conflict?

Thanks Ronnie for your system.

Jimmy

Hi Jimmy

Thanks for adding spread. I think it would be conflict if the EA on 15 min and 1 hour have the same magic number. If it whas possible to set different magic number in EA settings, then I think You could trade the same pair on fifferent timeframes.

Elovv

Yeah that's what I thought as well.

I know I said I wouldn't update the EA any more until you did those tests, but let's face it, I don't think you're ever gonna do them, so... never mind.

I added a kind of Support/Resistance option for both the EA and Indi(for visual confirmation). And custom Magic Number so you can use the EA on more time frames of the same pair at the same time by changing it.

S/R Inputs and how it works:
UseSR = false; // ON/OFF Switch
CountedCandles = 100; // How many candles back should the filter take into account.
DistanceFromSR = 5; // How many pips from the last High/Low should the Order be placed.
MagicNumber = 123; // Well it's obvious what this is.

Let's take for example a long trend(or a long trade on a flat trend). The filter counts the last high for as many candles back as the CountedCandles input holds and considers the highest high as resistance, so if a signal appears it will be placed at the DistanceFromSR number of pips above that highest high(considering that to be the resistance). Same goes for short trades, only difference is it counts the lowest low and considers it support.
Try the Indi and you will visually see what I mean.

I did not add spread because I do not consider it necessary. The spread is the brokers money. If you really want it to be and even score you can subtract it from the Stop Loss. So for example if the spread is 10 on a pair and you what to lose exactly 100 pips you just set the Stop Loss to 100-10=90 and there you go. Or you could add the spread to the winning side, so Take Profit + Spread and leave the Stop Loss alone, whichever way you want. It's that simple.
Thanks for understanding.

You have the files attached to this post.

Regards,

Thanks for your continued effort Jubu. People don't want the spread to be added for short trades, only long trades. The reason for this is because all the candle information printed by MT4 on your screen uses the lowest price of the spread. Hence if you dont add the spread for long trades you will get stopped out earlier than 'expected' (the value of the spread) which I'm sure you understand. The solution you gave would work, however to provide this function for myself I simply changed the external int DistanceOfOrder into 2 seperate external double functions: DistanceOfOrderLong and DistanceOfOrderShort.

Then in all the BUYSTOP code I substituted the variable DistanceOfOrder for DistanceOfOrderLong, and in all the SELLSTOP code i substituted the variable DistanceOfOrder for DistanceOfOrderShort.

Now when I load the EA onto my chart I have the option to change the DistanceOfOrder on both long and short trades. So on EU for example where my spread is 1.6pips I enter 10 for DistanceOfOrderShort but I enter 11.6 for DistanceOfOrderLong.

Jimmy

I have had the latest version of the EA on 15M chart E/U, G/U and U/C (for settings see Ronnies post on p12 of this thread). I have also had it on 1hr charts E/U, G/U, U/C, GJ. Only trading between 06:00 and 18:00 GMT. The below results are for this week just finished.

If you trade the pairs that Ronnie suggests only during the times he suggests then the average profit will be what he suggests it is
(180 pips per week average). It seems to me that after that week where everyone had a few losses in a row everyone doubted the system. For one thing some of the losses were on pairs that Ronnie doesnt even trade and at times he doesn't trade.

Even for a system that has a proven win rate of 70% (which is very good) it will definately at some point have a run of 3 losses and more. This is just a statistical certainty. In order to see if a system has an edge it takes many trades to analyse (at least 100 consistant trades, nore like 1000 and above, following the same rules). As the Ronnie system trades on the 1hr time frame this will take a long time (longer than this thread has been going) to do live trading.

That is why Ronnie back tested it and gave the figures he did. For me 180 pips average a week is awesome and a much better return on investment than any bank can give you. What needs improving? If you want more than that then it will be a different system - not the one that Ronnie has given. For me the system that Ronnie has given doesn't need improving.

I don't know Ronnie, but I have no doubt that he is still happily trading his original pairs at the original times slowly growing his account (as I know other people are also). Runs of losses will come but overall the average will be profitable.

As with every other system - as soon as it has consecutive losses people think that it is flawed, when in fact that is just a statistical certainty.

If you have taken over 50 consistant trades can you post the results please? Were these using only the 4 pairs that Ronnie uses at the same times as Ronnie as well?

Thanks

Jimmy

Thanks to all the Contributors in this thread. Certainly one of my favourite threads in the whole of FF

Hi do you guys also use the strategy this thread is about? I started using it today. opened a sell oder on usd chf at 8315

I also opened a eur gbp at 8963 I know it is not 1 of the 4 pairs mentioned but looks like a good setup to me

the last setup candle in eur usd is 64 pips between low and high so I didnt open a trade on it is that right? candles<50 or should the candle's close be less than 50 from the 15period ma?

I found the answer on the first page now and opened a Eur USD 4327

Why so Quiet in here?

how is it going jimmy, i see no trades posting ?

regards,
.Hawk.

Well, may be some of us are still testing the EA. I do not use EAs anyway.

Hi Hawk,

I havent been posting results as I am not testing this system at the moment. This is because I am trading my live account for which I use different trading techniques to the Ronnie strategy.

I would be really interested to know if Ronnie is still using his strategy - Ronnie?

How are you doing Hawk? Any improvements made?

Jimmy