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Attachments: Daily Break Strategy
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Daily Break Strategy

  • #521
  • Aug 28, 2012 6:16am Aug 28, 2012 6:16am
Quoting deathbait
using ATR does better on a backtest for this year, but over the last 3 years, it does worse than the fixed 170pips
The max range will change through time. back in 2007-2008 moving 200 pips in a day was usual, so the number 170 should be changed to adjust to the market properties. In future it will change too, and then I'll update the first post, if I wasn't dead otherwise you should figure it out yourselves !! ( Just kidding )

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #522
  • Aug 31, 2012 6:21pm Aug 31, 2012 6:21pm
Hi Basber ,
I would like to thankyou for posting the system,I have been using it live manually for 2 weeks now (early days I know) and on a demo for a month and it's been working great had a couple of losses but mainly wins.
I use on the EUR/USD and on the GBP when I see an inside daily bar.

I have been trading for 10 years on and off with little to no success due to my emotions causing me to make stupid trading decisions, however this year I have decided to really try and make it work to a point where i can go full time,
and as your system takes the emotion out of trading hopefully it will help me get there.
Keep up the good work
Cheers
Rob
  • #523
  • Sep 2, 2012 5:34pm Sep 2, 2012 5:34pm
You're quite welcome Rob

Regards,
Basber

Quoting NoRehearsals
Hi Basber ,
I would like to thankyou for posting the system,I have been using it live manually for 2 weeks now (early days I know) and on a demo for a month and it's been working great had a couple of losses but mainly wins.
I use on the EUR/USD and on the GBP when I see an inside daily bar.

I have been trading for 10 years on and off with little to no success due to my emotions causing me to make stupid trading decisions, however this year I have decided to really try and make it work to a point where i can go full time,
and as your system takes...
Trading methods are designed to put the odds in our favor, not predicting.
  • #524
  • Sep 2, 2012 5:35pm Sep 2, 2012 5:35pm
You're quite welcome Rob

Regards,
Basber

Quoting NoRehearsals
Hi Basber ,
I would like to thankyou for posting the system,I have been using it live manually for 2 weeks now (early days I know) and on a demo for a month and it's been working great had a couple of losses but mainly wins.
I use on the EUR/USD and on the GBP when I see an inside daily bar.

I have been trading for 10 years on and off with little to no success due to my emotions causing me to make stupid trading decisions, however this year I have decided to really try and make it work to a point where i can go full time,
and as your system takes...
Trading methods are designed to put the odds in our favor, not predicting.
  • #525
  • Sep 3, 2012 9:40am Sep 3, 2012 9:40am
Dear Traders,

Deathbait has done a great work coding the EA concerning the Basper's daily breakout system. Surely it blessed many of us in this forum. However, there have also been some suggestion to create semiautomated EA and make it more simple for those traders who find it more convenient for them. I asked a friend of mine, explained him the system and he coded the semiautomated EA which I'm attaching. It's the first version and there are both advantages and disadvantages to it. Possibly few bugs as well. It might be improved in the future, at the moment, however, it's very simple.

Parameters:
High: Manually input the high of the previous day.
Low: Manually input the low of the previous day.
Lots: Input fixed volume of lots.
entry_pips_diff: Number of pips the price must exceed high/low for 1st trigger
sl_pips_diff: Number of pips the SL is place bellow/above the Fib line
expire_in_hours = number of hours pending orders are to last

Advantages: You can apply EA any time. I do it in the morning as most of the time the high/low of the previous day wasn't triggered yet. Unlike the DB's EA you can do it retrospectively.

Disadvantages: Limited parameters inputs.
and
Very important !: Once you attach the EA to the chart, you can't switch between timeframes, nor close and open MT4 because EA will set the pending orders anew and anew and you can end up having hundreds of pending orders. You you'd better to set apart one window for your currency pair which just won't be modified. In case you get hundreds of pending orders and you want a quick way to delete them automatically, I also attach another EA which will do that for you.

Ok guys, I hope it helps anyone.
Good luck and GBY !

P.S: Deathbait, if you'd like you can modify this EA and make it better ;-)
Attached File(s)
File Type: ex4 Fibonacci High Low.ex4   7 KB | 402 downloads
File Type: mq4 Fibonacci High Low.mq4   9 KB | 457 downloads
File Type: ex4 delete_pending.ex4   1 KB | 372 downloads
  • #526
  • Sep 5, 2012 8:49am Sep 5, 2012 8:49am
Update :

It is prefered not to enter "Second Entries" after US session ...

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #527
  • Sep 5, 2012 8:52am Sep 5, 2012 8:52am
Quoting Andrej7
Dear Traders,

Deathbait has done a great work coding the EA concerning the Basper's daily breakout system. Surely it blessed many of us in this forum. However, there have also been some suggestion to create semiautomated EA and make it more simple for those traders who find it more convenient for them. I asked a friend of mine, explained him the system and he coded the semiautomated EA which I'm attaching. It's the first version and there are both advantages and disadvantages to it. Possibly few bugs as well. It might be improved in the future,...
Trading methods are designed to put the odds in our favor, not predicting.
  • #528
  • Sep 5, 2012 1:30pm Sep 5, 2012 1:30pm
Quoting Basber
Update :

It is prefered not to enter "Second Entries" after US session ...

Regards,
Basber
After us open or after us close?
  • #529
  • Sep 5, 2012 2:33pm Sep 5, 2012 2:33pm
Quoting deathbait
After us open or after us close?
Close ...
Trading methods are designed to put the odds in our favor, not predicting.
  • #530
  • Sep 6, 2012 2:55am Sep 6, 2012 2:55am
Be careful today ... Market is sensetive about today's news. I rather not to trade before news because of high volatility and false breakouts.

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #531
  • Sep 11, 2012 4:39am Sep 11, 2012 4:39am
Quoting Basber
I may add this :

I believe a good system should work fine through at least 5 consecutive years, because market usually change it's behaviour through 4 year time cycle. So 5 years of consecutive positive results covers 2 cycles, one full cycle and one quertered cycle.

The thing you mentioned is absoloutly right. The recent properties and style is optimized with the latest movements and latest market behaviour.

Regards,
Basber

Hi Basber
First I'd like to say big thank you for sharing your system and taking time and putting your effort to reply to most of the questions in this thread. I'm a newbie and I am not sure whether this has been asked before. My first question is what is the reason behind market usually changes its behaviour through 4 year time cycle. Why not 2 or 3 years? My second question. From your personal experience, how do you know when a trading system is not working anymore or it's time to edit its rules? Do we wait till we have 2 or 3 consecutive lossing months?
  • #532
  • Sep 12, 2012 3:09am Sep 12, 2012 3:09am
Hello Basper,

I have a question. In case an inside bar occurs after a mother bar, it seems more logical to me to count the levels based on the mother bar(2 days before), not the previous day's bar. Am I right ? :-)
  • #533
  • Sep 12, 2012 11:14am Sep 12, 2012 11:14am
Quoting packgreen49
Hi,
This is my short entry and it would of hit my Stop Loss of 1.2758.
Ron

Hey where d you get that DB cal software from?
  • #534
  • Edited 1:41pm Sep 12, 2012 1:39pm | Edited 1:41pm
Hi,

at first I want to thank Basber for this really nice trading system!

I saw someone coded an indicator for this trading system. But I decided to code my own one 'cause I need some special features and want to support more timeframes in future versions.

The current version will only work in the H1 timeframe. It can create a forecast for the next day (you need to enable chart shifting for this). Available settings are:

- StartHour is the hour of the day that is used to start the calculation
- Forecast will enable or disable the forecast painting (disabling will save some CPU ressources because it won't repaint with every tick)
- TP is the Fibo level for the take profit lines (lime)
- SL is the Fibo level for the stop loss lines (red)
- BE is the Fibo level for the break even lines (white dashed)
- EntryPips is the number of pips to place the entry lines (yellow) over/under the high/low of the previous period
- StopPips is the number of pips to place the stop loss lines under/over the stop loss levels
- OnePip is the size of one pip at the used currency pair (change this to 0.01 for USDJPY for example)

I tryed to include the rules exactly, especially the rule to combine sunday with monday high/low values. For me it works, but I can't test the sunday+monday rule 'cause FinFx charts are starting with monday... The 50% Fibo level is missing because I already use 8 buffers for painting - the maximum in MQL4.

This are my 50 cents for this thread, I hope someone could use it!

Bye,
nd

Attached Image (click to enlarge)
Click to Enlarge Name: daily break.gif Size: 21 KB


Attached File(s)
File Type: ex4 Daily Breakout.ex4   10 KB | 516 downloads
  • #535
  • Sep 12, 2012 3:36pm Sep 12, 2012 3:36pm
Hi guys.
I have a lot of experience on horizontal line trading.

Consider this:

- backtesting BE is almost impossible.

A candle is a period of time when price can go up and down and down and up... You just don't know.

So, if you put an horizontal line, let's just say, on the middle of the candle you cannot assume that the price came down (ex) and continue down (downtrend) and made lots of pips and never touched the BE line.

Be careful with the backtest using horizontal lines.
  • #536
  • Sep 12, 2012 4:30pm Sep 12, 2012 4:30pm
Hi luis,

for a real backtest I always code an EA and use tick data. For a visual backtest I count the worst case, if it's not sure how the price moved during a candle.

A good example is the 10am MEZ candle from the ESM decision: The candle is very big, it moved over the SL and BE lines. But from the hourly chart you can't see what really happened. Did the price went up to the BE and then down to the SL?
In a visual backtest I would count at minimum two losses for this bar: The entry was touched, then the SL -> 2nd entry, then back to the 1st entry (SL of the 2nd entry) and then the BE line to stop the trade by going back to the break even stop loss. But in fact there was a lot more movement (I scalped it and got >+180 pips for today ).

A visual backtest is not enough for being sure about the profitability of this kind of trading system. At the end to be sure you have to code an EA for doing a backtest with (high quality!) tick data.

Currently I'm trying this system in a Demo account, just for the feeling (feels ok since now ). You may use the EA that was posted earlier for a backtest - I didn't do it yet.

Bye,
nd
  • #537
  • Sep 16, 2012 6:10am Sep 16, 2012 6:10am
Hi guys, this is my first post on this thread.I have been reading through it for a while now and would like to try it out,unfortunately it is impossible for me to be at my PC all day or leave it running.I am thinking of trying to run the EA through a VPS(virtual private server) on a demo for a while.Just wondered if anybody has any experience in doing this.Any advice would be most welcome.
Thanks
  • #538
  • Sep 16, 2012 1:30pm Sep 16, 2012 1:30pm
Quoting luis borges
Hi guys.
I have a lot of experience on horizontal line trading.

Consider this:

- backtesting BE is almost impossible.

A candle is a period of time when price can go up and down and down and up... You just don't know.

So, if you put an horizontal line, let's just say, on the middle of the candle you cannot assume that the price came down (ex) and continue down (downtrend) and made lots of pips and never touched the BE line.

Be careful with the backtest using horizontal lines.
I've tested this on M15 and the condition you discribed happens rarely. When testing, the candles that you described, I considered them all as SL. But you're right. That's why all my posts on this method are in M15. M5 is a little annoying .. Traders should not backtest this on higher TFs, because of the reason you told ... Thanks for bringing it up.

People, if you want to succeed in this business, when you approach a method, either you designed it or you heard it from somewhere (like here), try your best to disapprove it. If you fail, you've find your perfect method. This point is crucial, easy to understand, but hard to do it in action ...

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #539
  • Sep 16, 2012 1:33pm Sep 16, 2012 1:33pm
Quoting 00ive
Hi guys, this is my first post on this thread.I have been reading through it for a while now and would like to try it out,unfortunately it is impossible for me to be at my PC all day or leave it running.I am thinking of trying to run the EA through a VPS(virtual private server) on a demo for a while.Just wondered if anybody has any experience in doing this.Any advice would be most welcome.
Thanks
I don't like EAs. I rather to place orders myself, because sometimes I change the target levels. Why don't you try to manage your account from your phone ?

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #540
  • Sep 17, 2012 5:19pm Sep 17, 2012 5:19pm
Hi traders,

I trade this method in Crude Oil today with sucess !! Oil have big moviments, and volatility.


kind regards, philipe
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