Quick and Dirty EOD | Page 36 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

EOD trading system 1,037 replies

EOD -1 day hold 213 replies

Quicker and Dirtier EOD 117 replies

Best EOD strategy 5 replies

The meaning of EOD? 3 replies

Attachments: Quick and Dirty EOD
Exit Attachments

Quick and Dirty EOD

  • #701
  • Sep 14, 2012 4:10am Sep 14, 2012 4:10am
Just to share this EUR/JPY trade.
I understand this is not a recommended pair.

The entry was triggered and SL of 100 pips was placed.
You can see the stop was triggered by the spike down and it accidentally hit my stop loss. It didn't just stop there, it went up.

Better luck.
Attached Image
  • #702
  • Sep 14, 2012 4:22am Sep 14, 2012 4:22am
Quoting normtold
Hello HughBriss, I have been out the country for a while and see there have been some changes to the monthly/daily method, can you please tell me if I have missed anything.

D1 chart with 10EMA, apply to close.
Wait for candle to close above the EMA and set a pending buy there.

Set more pending buy orders at each break of the swing high.

I am using the EdwardMunroe V2 to trail 50 pips behind the 10 EMA.
Only close long position/s manually if the daily candle closes below the 10 EMA.

Best trending pairs to watch are,
Eur/Usd Eur/Aud Eur/Nzd...
Hello. The entry signal is to wait for a move one way or the other away from the moving average. Once you get a pullback day you place a pending order the other side of it. If the 10 ema is breached before the order is hit then you close the order. If the order is hit then you use a 100 pip initial stop and then trail behind the 10 ema by 1 times ATR(20). An updated version of the ea is available within the last few pages. Keep stacking orders at every swing, you'll be quids in. (or bucks in possibly?)

I am watching eurusd, euraud, eurnzd, audusd and nzdusd only and trade them all at the same time with 1% risk per 100 pip stop.
  • #703
  • Sep 14, 2012 4:25am Sep 14, 2012 4:25am
Quoting minut3s
Just to share this EUR/JPY trade.
I understand this is not a recommended pair.

The entry was triggered and SL of 100 pips was placed.
You can see the stop was triggered by the spike down and it accidentally hit my stop loss. It didn't just stop there, it went up.

Better luck.
Yep, yen pairs are a bit spiky which is why they are not recommended. Saying that I believe one of my eurusd trades came within a few pips of being stopped at the start.

My total portfolio is over 1200 pips up at the moment. It could turn round today of course, just got to stick with it.
  • #704
  • Sep 14, 2012 5:41am Sep 14, 2012 5:41am
Thanks for the reply.

I found the new EA in post 663

Should the settings be,

True
False
False
10
0
1
0
1440
Buffer ?
Use ATR as buffer, True
20
1
  • #705
  • Sep 14, 2012 6:06am Sep 14, 2012 6:06am
Quoting normtold
Thanks for the reply.

I found the new EA in post 663

Should the settings be,

True
False
False
10
0
1
0
1440
Buffer ?
Use ATR as buffer, True
20
1
All right except the first two should be true. The first one tells it to trail behind the ma and the second one tells it to close if the price closes the wrong side of the ma.
  • #706
  • Sep 14, 2012 6:25am Sep 14, 2012 6:25am
I see there's an EA for the ATR SL. However, how can I setup my chart to show me the same 10 EMA + 1 ATR (20) SL for backtesting?
  • #707
  • Sep 14, 2012 7:01am Sep 14, 2012 7:01am
Quoting IrishTrader
I see there's an EA for the ATR SL. However, how can I setup my chart to show me the same 10 EMA + 1 ATR (20) SL for backtesting?
It's tricky but one way I have used in the past is to add levels to my ma. So if the average atr is around 80 just add an 80 level above and below the ma on the chart and if it touches that then you know the stop loss would have been hit. It's not perfect but works ok for testing. Most of the time the stop won't be hit anyway, the trade will be closed by the price closing beyond the ma.
  • #708
  • Sep 14, 2012 7:08am Sep 14, 2012 7:08am
Many thanks.

Do I still leave the 4th parameter from the bottom (buffer) at 50 or 0 now that I am using ATR as a buffer?

In post 698 you posted a NzdUsd chart.

The long green candle from 7 days ago was the swing high, then a small green pullback candle so wouldn't the buy order be set above the swing high?

The next candle was a red one but the high would have triggered the swing high.
I know it triggered the next day with the big green candle but I am just trying to understand where you put the orders in.

Also do you and any pips for the spread?
  • #709
  • Sep 14, 2012 7:36am Sep 14, 2012 7:36am
Quoting normtold
Many thanks.

Do I still leave the 4th parameter from the bottom (buffer) at 50 or 0 now that I am using ATR as a buffer?

In post 698 you posted a NzdUsd chart.

The long green candle from 7 days ago was the swing high, then a small green pullback candle so wouldn't the buy order be set above the swing high?

The next candle was a red one but the high would have triggered the swing high.
I know it triggered the next day with the big green candle but I am just trying to understand where you put the orders in.

Also do you and any pips for the...
The buffer input doesn't matter now as you are using the ATR.

The swing high was in place after the red candle closed so that's when I entered the pending order.

Our charts may look a little different depending on what broker you are using.
  • #710
  • Sep 14, 2012 7:37am Sep 14, 2012 7:37am
I was doing some back testing on eurusd and unfortunately the ea I was using closed all my eurusd orders. Not to worry, I just banked the best part of 1500 pips
  • #711
  • Sep 14, 2012 9:03am Sep 14, 2012 9:03am
Quoting Hugh Briss
I was doing some back testing on eurusd and unfortunately the ea I was using closed all my eurusd orders. Not to worry, I just banked the best part of 1500 pips

HB, great trade!

Now, for the opposite side of great...EURNZD

Based on this technique rule, short was to be open at the break of the low of the 9/12 green candle, itwould of been large loss now, if today candle to close above 10ma. Correct?
  • #712
  • Sep 14, 2012 9:08am Sep 14, 2012 9:08am
Quoting driven18
HB, great trade!

Now, for the opposite side of great...EURNZD

Based on this technique rule, short was to be open at the break of the low of the 9/12 green candle, itwould of been large loss now, if today candle to close above 10ma. Correct?

Here is the pic
Attached Image (click to enlarge)
Click to Enlarge Name: eurnzd.jpg Size: 76 KB
  • #713
  • Sep 14, 2012 10:16am Sep 14, 2012 10:16am
Quoting driven18
HB, great trade!

Now, for the opposite side of great...EURNZD

Based on this technique rule, short was to be open at the break of the low of the 9/12 green candle, itwould of been large loss now, if today candle to close above 10ma. Correct?
Er, no. There is no valid signal there. You've got a red candle going down and then todays candle is a large green one. If todays candle hadn't have pulled back above the 10 ema then you might have wanted to trade the break of todays candle but other than that no signal. Also you never take a large loss on anything because you always use an inital stop.
  • #714
  • Sep 14, 2012 10:37am Sep 14, 2012 10:37am
Quoting Hugh Briss
Er, no. There is no valid signal there. You've got a red candle going down and then todays candle is a large green one. If todays candle hadn't have pulled back above the 10 ema then you might have wanted to trade the break of todays candle but other than that no signal. Also you never take a large loss on anything because you always use an inital stop.
HB, it is second green candle to the left I am talking about...see green candle with the two arrows...
Attached Image (click to enlarge)
Click to Enlarge Name: eurnzd.jpg Size: 76 KB
  • #715
  • Sep 14, 2012 1:24pm Sep 14, 2012 1:24pm
Quoting driven18
HB, it is second green candle to the left I am talking about...see green candle with the two arrows...
Right. That's barely green though is it? I didn't trade that and I'm not sure if anyone else would have interpreted that as a signal. If they have then I haven't explained the system properly. You need a bit more of a move and then a clear pullback, not just a little doji.
  • #716
  • Edited 12:56pm Sep 15, 2012 12:34pm | Edited 12:56pm
Look @ your S&R around that area... it was bound to bounce off as it was a previous level of resistance that is now support... the big green candle after the red is not just coincidence

Edit: Added picture - now we can go into more detail

Light Blue = Imporant S&R @ the moment of the Green Doji you were talking about.

Orange Circle = doji candle of interest

Why is this not a reasonable sell from the break of the low of that candle, you ask?
1. It is a doji.. what does a doji mean? In this case it means indecision... in this case it means that the Bearish run was rejected strongly by a previous level of support & resistance (look to the left of the chart @ Aug 28th=30th
2. Price would have to move ALOT for us to enter.. this increases our risk disproprotinate to reward as the 10ema is still not in a smooth negative slope.


Now... if you wanted to try and trade that doji you would need to limit your risk for maximize reward...

You could enter a Sell on the close of that Green doji... with the logic that you would have a very small stoploss and your take profit would be the tap of the green doji's low/S&R line below. Knowing that this is either a trend change or consolidation
Attached Image (click to enlarge)
Click to Enlarge Name: Example_Trade.png Size: 396 KB
  • #717
  • Sep 15, 2012 1:40pm Sep 15, 2012 1:40pm
Quoting Maverick731
Look @ your S&R around that area... it was bound to bounce off as it was a previous level of resistance that is now support... the big green candle after the red is not just coincidence

Edit: Added picture - now we can go into more detail

Light Blue = Imporant S&R @ the moment of the Green Doji you were talking about.

Orange Circle = doji candle of interest

Why is this not a reasonable sell from the break of the low of that candle, you ask?
1. It is a doji.. what does a doji mean? In this case it means indecision... in this...
An admirable analysis. I don't think it's necessary to think about these factors though. It's enough that the system would have kept you away from trading it. No need to overcomplicate anything.
  • #718
  • Sep 15, 2012 2:22pm Sep 15, 2012 2:22pm
Quoting Hugh Briss
An admirable analysis. I don't think it's necessary to think about these factors though. It's enough that the system would have kept you away from trading it. No need to overcomplicate anything.

HB, agree on being simpler is better....but still not sure why the system would of kept me out of this short trade. Are you saying if it would of been not a doji, it is a short for sure?
  • #719
  • Sep 15, 2012 2:29pm Sep 15, 2012 2:29pm
Quoting driven18
HB, agree on being simpler is better....but still not sure why the system would of kept me out of this short trade. Are you saying if it would of been not a doji, it is a short for sure?
It simply wasn't a clear short. I was just trying to write out was clearly goes through my head when I see it. I didn't write all that down saying that is what I would sit thinking over as i saw the chart.

I simply would see a rejection doji, no clear short trend, and not enough room for a profitable trade

The trade I explained would be a contratrend trade that would have to be quick, many ways to skin a cat
  • #720
  • Sep 15, 2012 4:20pm Sep 15, 2012 4:20pm
Quoting driven18
HB, agree on being simpler is better....but still not sure why the system would of kept me out of this short trade. Are you saying if it would of been not a doji, it is a short for sure?
I've answered this in your email but to answer for everyone else no it wasn't a valid signal because the move away from the ma was not substantial enough. I want to see a good move away and then a clear pullback day or days that do not breach the 10 ema.

Also don't forget you will never incur a large loss because you always use an initial stop loss.
2 traders viewing now