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Daily Break Strategy

  • #181
  • Jun 14, 2012 8:04am Jun 14, 2012 8:04am
many, MANY irritating bugs

v0.15 changelog
-fixed various extremely annoying bugs.

the second entry orders work now, basber. I didn't even notice it wasn't entering. Thanks for pointing it out.
Attached File(s)
File Type: mq4 daily breakout by basber v0.15.mq4   22 KB | 355 downloads
  • #182
  • Jun 14, 2012 3:59pm Jun 14, 2012 3:59pm
Hi Basber,

First many thanks for your system. I've got 2 quick questions. If a trade (eg buy) is still open at the end of the day:
1. Do you maintain the first entry sell order valid for the next day. My understanding is no.
2. Do you maintain the second entry order for the next day if TP2 has not been hit ? My understanding is yes.

Many thanks for your clarifications.
  • #183
  • Jun 14, 2012 11:51pm Jun 14, 2012 11:51pm
Quoting Phiksalamuk
Hi Basber,

First many thanks for your system. I've got 2 quick questions. If a trade (eg buy) is still open at the end of the day:
1. Do you maintain the first entry sell order valid for the next day. My understanding is no.
2. Do you maintain the second entry order for the next day if TP2 has not been hit ? My understanding is yes.

Many thanks for your clarifications.
Hello Phik,

When you have a open position that goes through next day, your approach to setting next day's orders will not change. So you put first entry sell order even if you have bought the pair in previous day and it goes to next day. Even you sometimes have two open positions together like now. A buy from previous day is still open and another buy opened today when previous day's high broke.

All unexecuted orders will be removed at the end of the day, including second entry's order, even if the trade goes to next day. For example I placed today's second entry's order now, not last day's second entry's order.

I hope it was clear.

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #184
  • Jun 15, 2012 12:16am Jun 15, 2012 12:16am
Quoting deathbait
many, MANY irritating bugs

v0.15 changelog
-fixed various extremely annoying bugs.

the second entry orders work now, basber. I didn't even notice it wasn't entering. Thanks for pointing it out.
Good job DB, it improved alot. I've tested it through 1 month and here are some bugs. But as I mentioned, it far more better that version 0.14.

It still trades with constant volume ... Instead of taking "lotsize" as an input, EA should recieve "Percentage of Risk" and "Balance" as an input and then calculate the volume itself.

Regards,
Basber
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Trading methods are designed to put the odds in our favor, not predicting.
  • #185
  • Jun 15, 2012 12:33am Jun 15, 2012 12:33am
Quoting Basber
Hello Phik,

When you have a open position that goes through next day, your approach to setting next day's orders will not change. So you put first entry sell order even if you have bought the pair in previous day and it goes to next day. Even you sometimes have two open positions together like now. A buy from previous day is still open and another buy opened today when previous day's high broke.

All unexecuted orders will be removed at the end of the day, including second entry's order, even if the trade goes to next day. For example I...
Best IDEA, Thanks
TRADE WHAT U SEE NOT WHAT U WANT TO SEE.
  • #186
  • Jun 15, 2012 2:50am Jun 15, 2012 2:50am
Quoting Basber
Good job DB, it improved alot. I've tested it through 1 month and here are some bugs. But as I mentioned, it far more better that version 0.14.

It still trades with constant volume ... Instead of taking "lotsize" as an input, EA should recieve "Percentage of Risk" and "Balance" as an input and then calculate the volume itself.

Regards,
Basber
I see you're testing on 15 min charts. I made major changes to the way it handles different time frames in v0.16. Can you check it again? Time frames other than 1H had some weird stuff happening in v0.15. Could be related.

Also, I note that on 3 of your screenshots, the range was above 1700(170 pips). The system filters them out according to your rules on page 1. If you've revised the rule, let me know.

I can only replicate the last 2 errors. The one on 8th march looks like it's executed properly. The TP of the previous day just happily coincided with that day. Put it on v0.16 and take another look?


The one on 12th march is a direct effect of the system currently not trading on mondays. A position on 9th march was held onto 12th march over the weekend, and the EA don't send any orders on mondays.

It's also caused in part by the fact that the EA currently does not track orders that carry over the second day. That will be fixed this weekend, hopefully, together with automating monday trading.


Currently wrapping my head around monday trading logic, so if you don't mind clarifying:

when monday opens, do we want to bracket friday 0000GMT to sunday 2359GMT?

for eg, on friday morning just now, we took the high and low of thursday, from 0000GMT to 2359GMT. When monday opens, logically, we should be taking friday 0000GMT to 2359GMT. Should I add in the few odd bars from sunday as well?

Experience tells me that the gaps happen on the sunday bars, and if we take the sunday bars into account, there should be no gaps on entries. Since you talked about gaps, AND taking the sunday bars into consideration, I'm a little confused.



In the meantime, here's v0.16. The automatic risk sizing is a very basic formula, and due the number of rounding offs this strategy requires, isn't very exact. But it definately places lots within the ballpark. I would say 2% lotsize error either way. Still possible I may have made a mistake here, so play with it.

v0.16 changelog
1) added primitive lot sizing
2) made some changes in time structure so it's more friendly on multiple timeframes.
3) now draws previous day box when EA opens. Previously waited for new day before drawing box and initialising values
4) caught minor error in SL levels
Attached File(s)
File Type: mq4 daily breakout by basber v0.16.mq4   25 KB | 309 downloads
  • #187
  • Jun 15, 2012 4:41am Jun 15, 2012 4:41am
Quoting Basber
Hello Phik,

When you have a open position that goes through next day, your approach to setting next day's orders will not change. So you put first entry sell order even if you have bought the pair in previous day and it goes to next day. Even you sometimes have two open positions together like now. A buy from previous day is still open and another buy opened today when previous day's high broke.

All unexecuted orders will be removed at the end of the day, including second entry's order, even if the trade goes to next day. For example I placed...

Many thanks for your answers Basber ! I just wonder how you manage you trade during the night....! This EA will us all sleep better....LOL !
  • #188
  • Jun 15, 2012 5:56am Jun 15, 2012 5:56am
Quoting deathbait
I see you're testing on 15 min charts. I made major changes to the way it handles different time frames in v0.16. Can you check it again? Time frames other than 1H had some weird stuff happening in v0.15. Could be related.

Also, I note that on 3 of your screenshots, the range was above 1700(170 pips). The system filters them out according to your rules on page 1. If you've revised the rule, let me know.

I can only replicate the last 2 errors. The one on 8th march looks like it's executed properly. The TP of the previous day just happily coincided...
I see you're testing on 15 min charts. I made major changes to the way it handles different time frames in v0.16. Can you check it again? Time frames other than 1H had some weird stuff happening in v0.15. Could be related.

Will do soon.

Also, I note that on 3 of your screenshots, the range was above 1700(170 pips). The system filters them out according to your rules on page 1. If you've revised the rule, let me know.

LOL ! I didn't note it !! Yes you're right.

It's also caused in part by the fact that the EA currently does not track orders that carry over the second day. That will be fixed this weekend, hopefully, together with automating monday trading.

So it can be done ... I'm glad

when monday opens, do we want to bracket friday 0000GMT to sunday 2359GMT?

for eg, on friday morning just now, we took the high and low of thursday, from 0000GMT to 2359GMT. When monday opens, logically, we should be taking friday 0000GMT to 2359GMT. Should I add in the few odd bars from sunday as well?

Sunday and monday should be recognized as one day. Is it possible ?

In the meantime, here's v0.16. The automatic risk sizing is a very basic formula, and due the number of rounding offs this strategy requires, isn't very exact. But it definately places lots within the ballpark. I would say 2% lotsize error either way. Still possible I may have made a mistake here, so play with it.

I'll take a look. 2% is acceptable.

Thanks again DB. Looking forward to next version. I'll test more and tell you the result.

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #189
  • Jun 15, 2012 6:00am Jun 15, 2012 6:00am
Quoting Phiksalamuk
Many thanks for your answers Basber ! I just wonder how you manage you trade during the night....! This EA will us all sleep better....LOL !
It'll make it much more easier, but now I'll place the orders when I want to go so sleep, I'll set an alert to actuate when my orders execute, then I wake up and place the second entry's orders. Not a very pleasant way, but it's the only way to do it.

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #190
  • Jun 15, 2012 6:10am Jun 15, 2012 6:10am
Quoting deathbait
v0.16 changelog
1) added primitive lot sizing
2) made some changes in time structure so it's more friendly on multiple timeframes.
3) now draws previous day box when EA opens. Previously waited for new day before drawing box and initialising values
4) caught minor error in SL levels
Sometimes there are 4 entries in one day as below :
1) First sell or buy (Consider buy for example)
2) If the first entry didn't hit TP2, and reverses, it'll execute orders for second entry. Sell in the example above.
3) Break of the other side. In this example break of the low of the previous day which will execute the sell order for first entry.
4) Price reverses again and catch the buy order for second entry.

The EA execute first 3 ones right, but it don't execute the 4th one.

Edit : It don't bring SL to BE for second entry when TP1 hit.

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #191
  • Jun 15, 2012 6:23am Jun 15, 2012 6:23am
ok so treat sundays as part of mondays

so does that mean monday's trade based on friday's high/lows should be placed on sunday when broker opens for business?
  • #192
  • Jun 15, 2012 6:24am Jun 15, 2012 6:24am
Quoting Basber
Sometimes there are 4 entries in one day as below :
1) First sell or buy (Consider buy for example)
2) If the first entry didn't hit TP2, and reverses, it'll execute orders for second entry. Sell in the example above.
3) Break of the other side. In this example break of the low of the previous day which will execute the sell order for first entry.
4) Price reverses again and catch the buy order for second entry.

The EA execute first 3 ones right, but it don't execute the 4th one.

Edit : It don't bring SL to BE for second entry when...

oh i wasn't aware there was going to be a fourth entry.

So am I right in saying we can hit 4 entries a day?
  • #193
  • Jun 15, 2012 6:31am Jun 15, 2012 6:31am
Quoting deathbait
ok so treat sundays as part of mondays

so does that mean monday's trade based on friday's high/lows should be placed on sunday when broker opens for business?
Absoloutly.

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #194
  • Jun 15, 2012 6:33am Jun 15, 2012 6:33am
Quoting deathbait
oh i wasn't aware there was going to be a fourth entry.

So am I right in saying we can hit 4 entries a day?
Yes, you can have 4 entries in a day.

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #195
  • Jun 15, 2012 6:40am Jun 15, 2012 6:40am
Good morning and thanks for the thread.

I took a swing at this last night and just wanted to verify that I got it right. As usual, my first attempt was a complete failure.

Am I right in noting that we got stopped out of our long placed last night (my time) at 1.2640 and also got stopped out of entry 2 placed short at 1.2615.
Attached Image (click to enlarge)
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  • #196
  • Jun 15, 2012 6:42am Jun 15, 2012 6:42am
Also,

Do you add spread to your entry and s/l points, in other words when you place a long at 3 pips above entry fib, do you add spread to that.

Thanks,
  • #197
  • Jun 15, 2012 6:57am Jun 15, 2012 6:57am
Quoting spyderman
Good morning and thanks for the thread.

I took a swing at this last night and just wanted to verify that I got it right. As usual, my first attempt was a complete failure.

Am I right in noting that we got stopped out of our long placed last night (my time) at 1.2640 and also got stopped out of entry 2 placed short at 1.2615.
Spyderman,

For me, buy was stopped out but my second entry short is still alive. I entered at 1.2612...
  • #198
  • Edited 7:58am Jun 15, 2012 7:26am | Edited 7:58am
v0.17 changelog
1) trading on tuesday now takes into account sunday's data together with monday's
2) range bug fixed
3) monday trading enabled
4) added array to store previous day orders when new day begins. stores for a week.


v0.18 changelog
1) added ability to manage previous trades carried over
Attached File(s)
File Type: mq4 daily breakout by basber v0.17.mq4   31 KB | 317 downloads
File Type: mq4 daily breakout by basber v0.18.mq4   30 KB | 464 downloads
  • #199
  • Jun 15, 2012 8:06am Jun 15, 2012 8:06am
Basber, what happens if the low of the day happens to be on the last bar, and we're unable to place the sell order. Do we still place the buy on the other side? Or do we treat this like a gap on monday?
  • #200
  • Jun 15, 2012 4:58pm Jun 15, 2012 4:58pm
Hi DB,

Thank you for the EA your efforts are very much apprecieted . I have one comment as I left the EA to run today, the secondary trade that was placed after the buy was triggered had no TP or SL.

Thanks again
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