Personally, I don't trade mechanically, but I had a simple mechanical system that are pretty profitable in high winning percentage but low pips profits.
I love to hands on more, so this system is not my main trading style, as this trading system are lean towards the style of trade positioning.
I did only manual backtest and forward testing. Its a daily breakout system, but I tested manually between the recent 1 to 2 years. I even narrow down to 1 min, 5 mins and 15 mins charts to confirm the push towards the TP targets, on how it retrace before it hit the TP, to decide the R/R aka money management for this strategy.
I hope someone can code this simple EA with options to change the lot size, the TP/SL and the time close/open. It is because due to different periods, I observed, different times result in different profit.
K-Daily High Low Breakout
1. I draw vertical lines at all EST/EDT time from 17:00 hrs to 16:55 hrs [Preferably an EA to draw 16:59 instead]
2. TP/SL you can decide yourself but as I monitor my chart most of the time, I take different TP according to what I see. But I recommend the followings:
If previous day high/low range is less than 85 pips;
Open Long on previous High (optional + 3 pips) and Short on previous Low (optional - 3 pips) with:
[a] 3 sets of TP at 10-20 pips, SL at 20-30 pips
[b] 1 set of TP at 50 pips, SL at 25-30 pips
[Optional] I split [b] for TP 30 pips and another to run for more than 50 pips.
Previously I am using TP 25 pips and SL 25 pips.
Reason: Daily candles which had 85 pips on average range lesser tends to have another day of higher daily pips range of more than 100 pips.
If previous day high/low range is more than 85 pips;
[a] 3 sets of TP at 10-20 pips, SL at 20-30 pips
Reason: Daily candles which had 100 pips more on average range tends to have weak or smaller breakout or next smaller range daily candle.
Base on these few criterias, it maximize the winning percentage and decrease it mechanically as you have to observe how each daily candle work out.
So far, I tested different time, and the nearest profitable timing is EDT/EST 00:00 hrs. So for those who are lazy to change the time, they can use this timing.
I will post an example here as well as the template so that you can try testing it of how I do it.
How to avoid losses?
I look at some levels of Daily High Low, as well as Daily Open Close, so I dont take or trade all breakout.
As for the colored portion, I highlighted it for Open Close, as I use it to trade the consolidation, retracement or the strong push and pull scenarios. But I will not be elaborating it as I am still finding more ways to make it profitable.
If anyone able to code this, I will provide more input on how to modify it better. Or add in other strategies of how to manage non breakout or fake breakout. Because presently, I am filtering it out non mechanically.
Good Luck!
Take Note: This system and MM work only on EUR/USD, I tried it on other pairs, breakout do work, but MM doesn't work, still looking to modify options for other pairs.
Credit to 1 of our FF member, Barbossa for creating and modifying this EA. As both of us are busy, he had been patiently assisting me in fine tuning this simple system. This is a 3rd version, it's working, but still I hope most can help to test and maybe provide more ideas to input into this EA.
No one will be held responsible for any losses except yourself if you use it and result in any losses.
I love to hands on more, so this system is not my main trading style, as this trading system are lean towards the style of trade positioning.
I did only manual backtest and forward testing. Its a daily breakout system, but I tested manually between the recent 1 to 2 years. I even narrow down to 1 min, 5 mins and 15 mins charts to confirm the push towards the TP targets, on how it retrace before it hit the TP, to decide the R/R aka money management for this strategy.
I hope someone can code this simple EA with options to change the lot size, the TP/SL and the time close/open. It is because due to different periods, I observed, different times result in different profit.
K-Daily High Low Breakout
1. I draw vertical lines at all EST/EDT time from 17:00 hrs to 16:55 hrs [Preferably an EA to draw 16:59 instead]
2. TP/SL you can decide yourself but as I monitor my chart most of the time, I take different TP according to what I see. But I recommend the followings:
If previous day high/low range is less than 85 pips;
Open Long on previous High (optional + 3 pips) and Short on previous Low (optional - 3 pips) with:
[a] 3 sets of TP at 10-20 pips, SL at 20-30 pips
[b] 1 set of TP at 50 pips, SL at 25-30 pips
[Optional] I split [b] for TP 30 pips and another to run for more than 50 pips.
Previously I am using TP 25 pips and SL 25 pips.
Reason: Daily candles which had 85 pips on average range lesser tends to have another day of higher daily pips range of more than 100 pips.
If previous day high/low range is more than 85 pips;
[a] 3 sets of TP at 10-20 pips, SL at 20-30 pips
Reason: Daily candles which had 100 pips more on average range tends to have weak or smaller breakout or next smaller range daily candle.
Base on these few criterias, it maximize the winning percentage and decrease it mechanically as you have to observe how each daily candle work out.
So far, I tested different time, and the nearest profitable timing is EDT/EST 00:00 hrs. So for those who are lazy to change the time, they can use this timing.
I will post an example here as well as the template so that you can try testing it of how I do it.
How to avoid losses?
I look at some levels of Daily High Low, as well as Daily Open Close, so I dont take or trade all breakout.
As for the colored portion, I highlighted it for Open Close, as I use it to trade the consolidation, retracement or the strong push and pull scenarios. But I will not be elaborating it as I am still finding more ways to make it profitable.
If anyone able to code this, I will provide more input on how to modify it better. Or add in other strategies of how to manage non breakout or fake breakout. Because presently, I am filtering it out non mechanically.
Good Luck!
Take Note: This system and MM work only on EUR/USD, I tried it on other pairs, breakout do work, but MM doesn't work, still looking to modify options for other pairs.
Credit to 1 of our FF member, Barbossa for creating and modifying this EA. As both of us are busy, he had been patiently assisting me in fine tuning this simple system. This is a 3rd version, it's working, but still I hope most can help to test and maybe provide more ideas to input into this EA.
No one will be held responsible for any losses except yourself if you use it and result in any losses.
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The only winner is the one who survive the longest...
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