Quick and Dirty EOD

Yes, I get that impression. I have grown to like it and have never liked anything else. You do have to be careful with dodgy historic data, so called "bad ticks", etc but on the whole it does the job for me.

What platform do you use?

I use Oanda's fxtrade........ all my stuff is EOD and manual so I only need about 30 minutes a day.

That's right, I seem to remember you saying at some stage in the past. I didn't get on with Oanda, low leverage and funny FIFO rules? You crazy Americans!

Yeah I know.... We have dodd frank to thank for that crap......
Also check this out....... It just keeps getting better

Here are the charts just after my brokers candle close/open tonight, I'm loving this 10pm close!

Eurusd, audusd and nzdusd need a move and a pullback before anything happens. Euraud still running, closed just above the 10 ema so stop loss not moved any but 280 pips up still and set up valid. Eurnzd managed to close just below the 10 ema so the sell order is still valid too. Presumably these two are going to go one way or the other?!

I'll update tomorrow night.

how does the trailing stop ea handle multiple positions?

what happens if i have multiple positions in the same currency pair?

will they have individual trailing stops, or just the latest position added?

will all positions be closed once this trailing stop loss is hit?


thanks,
jay

As far as I am aware the EA will trail as many open trades as you have. It definitely works for 4 or 5 trades on the same pair but not sure of just how robust it would be if you had, say, 10 or 15. Time will tell.

i have this plan of adding positions every 0.5 of atr 20. on strong trends it may produce a lot of postions. just wanna make sure the ea can handle it.

but i guess you're right, we'll see in time if the ea can truly handle it.

I am getting ready to sell this one, maybe my sellstop is unnecessarily far. any idea?

Why add on at arbitrary levels? What's wrong with sticking to the system and trading breaks of s/r? If you add on randomly I am fairly sure you will not make more money than the original system. Of course if it tests out positively then I will be happy to consider it but I don't think it will work that way.

A notice to all thread followers...

I have been posting systems on Forex Factory for quite a while now and although I am overjoyed to have helped so many people on their trading journey I have taken the decision to become a commercial member. This thread and my other system threads will soon be moved to the commercial section. I have taken this decision because quite a lot of people have expressed an interest in trading these systems alongside me. I am happy to help anyone out but in order to help the maximum number of people it is necessary for me to come up with a solution to enable me to communicate my methods of trading to a large group of people at the same time. Hence the need for a website which incurs costs, etc. You know the rest.

I'm not the sort of person to pretend that I will not be making a profit from these activities too but then is that such a bad thing? I make a percentage return on my trading systems but my overall account size could be boosted a little. So profits from my website go to increase my account size. At the end of the day I know how to make money from trading and I can show you how. I don't feel the need to apologise for asking for a small return for my time especially when you consider the time and effort I have put in for free over the last year or so.

I wish everyone the best of luck and if you feel that you would like to trade this or one of my other systems live with me then look out for me in the commercial section. I will be offering a period of free access to my site for you to check that my style is right for you and there will be lots of bonus content such as videos, articles and the (im)famous expert advisor plus settings for the Donchian Channel system! I will be updating this thread with the system trades, screenshots, etc on a weekly basis. The day to day trading and mentoring will take place on the website.

Until we meet again, thanks for all the kind words and support for my systems.

Edward (Hugh Briss)

Sorry, I saw this earlier and forgot to answer. This is not a pair I would be trading, too choppy for my liking. It's tricky to see what's happening on your chart because you have too much clutter on there but looking at my brokers chart it was a valid trade and has triggered already. I hope you got in? Whether it will be a winner or not I don't know but like I say, it's a choppy pair. Good luck with it.

thx thou, i will definitely join your commercial activities. wish you luck and lot of great trades.

Thanks dipie, good to have your support.

[quote=Hugh Briss;6045500]
A notice to all thread followers..................................

E...(HB)

I will join you on the "Commercial-side".
When will this be effective?

Coast101

[quote=Coast101;6045792] I have been in contact with Twee and I am just waiting for the threads to be moved before I post anything that would violate the terms and conditions for me to post here. If nothing happens in a few days time I will contact him again. Should be cleared up in a few days. I am busy putting some quality content on the site at the moment and have just posted my first daily update there so by the time I have preview members it should be looking pretty cool.

Thanks for your interest and I look forward to seeing you over there.

Hi Hugh (Edward),

Good luck with the commercial venture.

Will you be posting details here of the website?

Look forward to following you, and thanks for the systems!!

Very best,

Steve

Hi, just typing out the detals now.

So, here we are, in the commercial section. I've explained my reasons for being here in the post above. Now let me tell you about what I have to offer.

Learning how to trade is very much a two stage process. First you learn the how's and why's, what to do and when, what is a stop loss and why you should use one, etc. You learn about indicators and what they do (or more often don't) tell you. You learn the mechanics of trading relatively quickly. The second stage takes a bit longer and that is learning how to put all of the information you learnt in the first part together into a coherent plan and more importantly sticking with it!

The trading process itself is simple, you buy or sell and if the price moves in your favour you make money and if it moves against you then you lose money. The emotional and discipline aspects of trading take a long time to get control of and this is what makes successful trading so hard. The sooner you learn to accept losses and even long spells of losing trades, the sooner you will make the breakthrough to being a consistently successful trader.

We must also consider what that means. To me being a successful trader means that you followed your system no matter what happened. If you have a properly back tested system which has a positive expectancy, ie you expect to make money following it but after a year of trading it you are 10% down in your account then you are still a successful trader!

This is a hard concept for many people to get the hang of. If you're a successful trader then surely you should make money all the time? The fact is that even the most successful traders don't make money every year. Sometimes the trends just aren't there. One thing you can more or less guarantee though is that the smart trader will continue following that well tested system for the next year and the year after because they know for a fact that their next 150% year is only just around the corner. It's about having faith in yourself and about having faith in your system and sticking with it through thick and thin.

Now I'm not trading with the intention of losing money or just going sideways, I'm trading to make money but being realistic about your goals and philosophical about your losses is the first step. At the time of writing my Donchian Channel system is floating around 30% up after only two months of trading. This could go either way from here. If the trends reverse I will be around break even for the year (after having an open equity at one point over £600 up). If the trends continue then I will make more money as the stop losses are trailed. I've also just banked over 1200 pips on a small move on eurusd. It's nice when you experience gains but it doesn't always run so smoothly and you need to be mentally prepared for when things don't looks so rosy.

So what am I offering? First of all I am offering free access to my website until the 15th October 2012. As it stands at the moment the site is very much in it's infancy and it will take a week or so for me to get enough content on there for me to be happy. After the initial free period there will be a small fee for full access to the site.

Free members will be able to view all pages but not contribute or download attachments. Full members will be able to post on the site and download all attachments including the expert advisor I use for my Donch Channel system.

I will be updating this thread on forex factory on a weekly basis with details of trades taken/closed and the overall results of the system. The day to day running of the system will be posted on the other site. A large part of the service I am offering is the "live" trading aspect to help with the problems detailed in the paragraphs above. A lot of people have expressed an interest in trading alongside me and this is the best way I can find to do so and reach as many people as I can at the same time.

For anyone new to the systems I will provide skype access so we can trade live and I can explain my thought process as it happens. As a full member you will also have the option to contact me via skype at a convenient time for us both to discuss any issues you might have.

Also on the site there will be educational videos covering any topic you care to mention. There is a request option to request a video on a topic you would be interested in being covered. There is an articles section where I will post articles I have personally written on subjects to do with trading and also as an incentive there will be a payment of £10 for any good quality article written by a full member that is included in the site. Also there will be a payment of £50 for any good quality ebook written by a full member that is included on the site. This is a small incentive for the full members to contribute their thoughts, ideas and expertise to the site and to pass on their growing knowledge to newer traders.

My intention is to create a valuable learning tool with all the information necessary to successfully trade my systems in one place. If there is any other service that you feel you would like me to add to the site then just let me know. I want to do everything I can to help people succeed whether it's through the videos, the live trading or through personal access.

To take advantage of the free membership offer just email me at [email protected] . I need your email address to set you up as a free member to my site but I will never sell or in any other way use your email address. Once I have your membership request I will set up your membership as soon as possible and email you back with your username and password. If you have any questions at all then ask them at the same email address.

I'm looking forward to working with you and I hope that you will find this service useful.

Edward Munroe (Hugh Briss)

Please note that I can no longer reply to private messages as I am a commercial member. If you have recently contacted me by private message and I have not replied then please accept my apologies and please contact me with the address above.

This thread along with my others are in the "Under Evaluation" section. Once I have enough sufficiently high thread ratings I will be able to move to the main section. I would be grateful if anyone with 4 vouches or more could rate this thread honestly. Thanks.

Spyder, Tradestar, HB --

This strategy almost seems scary in its simplicity. One quick question: Are the 10ema and 10wma on the Close, Open, High, Low? I haven't seen that detail anywhere - I apologize if I've missed it.

Thanks!