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Daily Break Strategy

  • #281
  • Jul 4, 2012 2:13am Jul 4, 2012 2:13am
Quoting Bobcat2
I'm attempting to gain a clarification on the entries. Let's say, for example, that a Buy trade is hit. We immediately place a 2nd level Sell order at the Buy trade SL (but maintain the original Sell order at the bottom of the candle). At this point we have 1 Buy trade and 2 pending Sell orders? Price does not hit BE (TP1) on the Buy. Instead, price moves downward and hits the Buy SL. Simultaneously the 2nd level Sell is hit. If price continues down to eventually hit the Sell TP2, we would have 1 Buy trade loss, and 2 Sell trade wins?

I hope this...
yes you're right. don't forget to place the buy for Type II entry after execution of second sell order, if it doesn't reach TP2. I means there are days that you may take 4 trades.

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #282
  • Jul 4, 2012 3:17am Jul 4, 2012 3:17am
Quoting Basber
yes you're right. don't forget to place the buy for Type II entry after execution of second sell order, if it doesn't reach TP2. I means there are days that you may take 4 trades.

Regards,
Basber
Basber, thank you for the confirmation. I would have probably forgotten to place the level 2 entry after execution of the the second sell order. Now, I think I've got it!
  • #283
  • Jul 4, 2012 4:12am Jul 4, 2012 4:12am
Quoting deathbait
This sounds like a silly idea, but maybe you should try rebooting=)

Unfortunately I turned off my fxdd mt4 yesterday. I'll leave it on to see if mine takes the next open

Could you please open a new chart, put on just the EA, and take a screen shot with the experts tab open?
Preferably with the last bar visible too. thanks
11

Thanks. It did update fib box after I rebooted but did not enter orders perhaps because you indicated it would not place orders if the expert is attached after 0 GMT.I will see how it works at start of new day tomorrow.Also by inputting 3 in daystart since FXDD is GMT + 2 , it drew the start of the fib box at 1 hour after 0 GMT rather than 0 GMT. Should I not be inputting 2 if I want to reflect 0 GMT on FXDD?
  • #284
  • Jul 4, 2012 4:14am Jul 4, 2012 4:14am
recheck your gmt time to be sure

on my fxdd demo, i need to set to 3 to align it to gmt
  • #285
  • Jul 4, 2012 4:16am Jul 4, 2012 4:16am
according to this thread:

http://www.forexfactory.com/showthread.php?t=61491

fxdd likes to change to gmt+3 during summer.
not sure how true it is, or whether it's summer over there=)


you can use this to be sure:

http://wwp.greenwichmeantime.com/
  • #286
  • Jul 4, 2012 7:34pm Jul 4, 2012 7:34pm
Quoting deathbait
according to this thread:

http://www.forexfactory.com/showthread.php?t=61491

fxdd likes to change to gmt+3 during summer.
not sure how true it is, or whether it's summer over there=)


you can use this to be sure:

http://wwp.greenwichmeantime.com/

See chart. I set daystart to 3 on FXDD. Fib box did not update when the new day started.But EA entered buy stop orders based not on high of immediately preceding day (Tuesday) but based on high of 2 days ago (Monday) because the fib box does not update. It did not enter sell orders based on low of 2 days ago possibly because in looking back it calculates that immediately preceding day already penetrated low of fib box 2 days ago. I suggest that you download FXDD demo platform and test it over the next few days and you will see the box does not update when new day starts.
Attached Image (click to enlarge)
Click to Enlarge Name: gb.gif Size: 99 KB
  • #287
  • Jul 4, 2012 11:13pm Jul 4, 2012 11:13pm
Quoting chuckeepw
See chart. I set daystart to 3 on FXDD. Fib box did not update when the new day started.But EA entered buy stop orders based not on high of immediately preceding day (Tuesday) but based on high of 2 days ago (Monday) because the fib box does not update. It did not enter sell orders based on low of 2 days ago possibly because in looking back it calculates that immediately preceding day already penetrated low of fib box 2 days ago. I suggest that you download FXDD demo platform and test it over the next few days and you will see the box does not...
I did have it on, but windows auto update strikes again, and restarted my comp.
Will leave it on for tmw

k minos, u still having trouble, or is it resolved?
  • #288
  • Jul 5, 2012 1:39am Jul 5, 2012 1:39am
If anyone is interested my demo on the out of the box settings on Go Markets is here:
http://widgets.myfxbook.com/widgets/335702/large.jpg
  • #289
  • Jul 5, 2012 1:53am Jul 5, 2012 1:53am
is that just 2 days, coz i had a drawdown last week lol
  • #290
  • Jul 5, 2012 3:18am Jul 5, 2012 3:18am
Quoting deathbait
is that just 2 days, coz i had a drawdown last week lol
I started with your latest version yesterday or the day before
  • #291
  • Jul 5, 2012 12:37pm Jul 5, 2012 12:37pm
Hi Deathbait

You might also want to program the EA so it adds the spread in the case of buy stop entry and buy exit orders.Currently it is not adding the spread. I believe the system assumes the spread is added to the buffer in the case of buy entry as well as the buy exit orders.Thanks
  • #292
  • Jul 5, 2012 1:07pm Jul 5, 2012 1:07pm
Basber has never mentioned anything about adding spread.
  • #293
  • Jul 5, 2012 3:17pm Jul 5, 2012 3:17pm
Bashir

Is the following statement true? Does your system add the spread in addition to the 3 pip buffer in the case of buy entry and buy stop orders

"I believe the system assumes the spread is added to the buffer in the case of buy entry as well as the buy exit orders."
  • #294
  • Jul 6, 2012 12:30am Jul 6, 2012 12:30am
btw this is my screenshot for today. it updated the box, but did not place trades because yesterday's range was >170 pips

edit: I promised to add spreads for next version, but i realised I'm not sure what you're looking for. Can you please elaborate?
Attached Image (click to enlarge)
Click to Enlarge Name: daily breakout fxdd.jpg Size: 208 KB
  • #295
  • Jul 6, 2012 1:24am Jul 6, 2012 1:24am
Quoting deathbait
btw this is my screenshot for today. it updated the box, but did not place trades because yesterday's range was >170 pips

edit: I promised to add spreads for next version, but i realised I'm not sure what you're looking for. Can you please elaborate?
Yes.Typically on the buy side EU the ask is 1 1/2 to 2 pips above the bid depending on the platform. So when Basber's system calls for using 3 pips as a buffer on the buy and sell side in breaking the high or low, actually on the buy side it would be 3 pips plus the 1 or 2 point spread to reflect the ask price. Since the sell order is done at the bid the spread issue does not apply. The same would hold true for reentry buy orders and buy protective stop orders at the fib lines. You would need to add the spread to reflect the ask price. Otherwise if you do not add the spread in actuality you would not be buying at the fib line but 1 to 2 points below the fib line and would be prematurely entering or stopped out.
  • #296
  • Jul 6, 2012 5:24pm Jul 6, 2012 5:24pm
Quoting deathbait
I did have it on, but windows auto update strikes again, and restarted my comp.
Will leave it on for tmw

k minos, u still having trouble, or is it resolved?

Hi DP

I haven't done much during the week because I was very busy, I have seen that the EA draws the correct box (on vista only on xp the problem remains) , though even when I changed the value in the EA to take the trade today it did not.

I have a request for you, because trade management is very personal and it is where some traders do have a better "feeling" comparing to others during the same trade, I would like to see a version of the EA that I will add the values (SL, TP1, TP2) and let the EA take care of the trade after that (a semi automatic version).

thanks a lot I will keep all posted
  • #297
  • Jul 7, 2012 1:31am Jul 7, 2012 1:31am
I would have preferred to iron out fundamental bugs first, but since I can't replicate your problems, I'll see what I can do to give the user more control on Monday's release. Btw, fxdd users, this might be relevant ...

forexmagnates.com/nfa-hits-fxdd-with-multiple-charges-including-asymmetric-slippage-fine-will-cost-it-over-3-5m/
  • #298
  • Jul 8, 2012 10:41pm Jul 8, 2012 10:41pm
fxdd on my comp placed the orders fine...

guess you'll have to figure out what's wrong on your end man
Attached Image (click to enlarge)
Click to Enlarge Name: daily breakout fxdd.jpg Size: 227 KB
  • #299
  • Jul 8, 2012 11:33pm Jul 8, 2012 11:33pm
Quoting deathbait
fxdd on my comp placed the orders fine...

guess you'll have to figure out what's wrong on your end man
nice plot of entry , straight forward .

Let the party begins, 2 more hours.
  • #300
  • Jul 9, 2012 3:15am Jul 9, 2012 3:15am
Well, no real bug reports this week, so this is a minor update to allow adding of spreads. Leave the new variable setting at the default 0 if you don't want to add it.


v0.20 changelog
1) added spread as a user variable for those who wish to add their spreads to the TP
Attached File(s)
File Type: mq4 daily breakout by basber v0.20.mq4   34 KB | 451 downloads
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