In the Selling Zone for EUR-USD
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- #542
- May 23, 2013 2:41am May 23, 2013 2:41am
- Joined Jul 2011 | Status: Gold Again | 10,600 Posts
HiCan somebody direct me to this EA as i dont find it in the threadThank you
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{quote} Hi Khaled, You are right, we DO NOT use a trailing stop with this strategy. We just set it and forget it and wait patiently for SL or TP targets to be hit. I definitely will not be utilizing the trailing stop if you fix it and probably won't post up the new EA in this thread anyways. However, if you would like you can fix it and post it for anybody who is interested. Thanks for letting us know!
I would like to say that having trailing stop is what I think would help us, especially when market goes into massive swings, as shown in pic below, taken just now at 9.50 am GMT. You can see the position went in positive and than got closed out. Had there been a trail, it would have either been very little positive or would close at break even, saving pips.
Now I know we could argue that it could rebound from its current position and may be got 500 pips positive, but well it would go 500 -ve as well from here.
Just my thought that why we should have a trail. We'll never have broken accounts if we close out on small profits instead of any kind of losses.
I would back a trail within the code and sadly people like me who are not into coding can be pain at time
Otherwise going great, though I've had some SL hits on /chf and jpy pairs which has brought things in negative for today.
All the best all...
- #546
- Edited 9:35am May 23, 2013 8:41am | Edited 9:35am
- | Joined Nov 2011 | Status: Trader | 1,042 Posts
Huge Pips losses are expected in such strategy. So no suprise.
If each trade has roughly 200 pip SL and there are around 100 trades open (like yesterday in 100PipsADay trade explorer) this are potentially: -20.000 pips (SL hit).
using current Avg Losing Trade: -0.2% this makes for 100 trades a potential floating risk of: -20%
I don't think that counting Pips Loss or Profit says much as it depends a lot on the strategy timeframe and how much each pip is worth - so better to look at Risk/Return.
this strategy is surely meant for people with a longer outlook of at least a couple of month and it will be interesting to see how it works out over such time period.
trade explorer is at 25 days with currently +13% for nearly fully automated
But I guess the problem, if any, will be the big potential floating Risk of about -20%.
Maybe one suggestion: base the lot size for instance on the actual SL so that each trade has the same opportunity (worth)
than such can not happen: (if TP is greater than SL)
Best Trade Return: 0.4%
Worst Trade Return: -0.5%
If each trade has roughly 200 pip SL and there are around 100 trades open (like yesterday in 100PipsADay trade explorer) this are potentially: -20.000 pips (SL hit).
using current Avg Losing Trade: -0.2% this makes for 100 trades a potential floating risk of: -20%
I don't think that counting Pips Loss or Profit says much as it depends a lot on the strategy timeframe and how much each pip is worth - so better to look at Risk/Return.
this strategy is surely meant for people with a longer outlook of at least a couple of month and it will be interesting to see how it works out over such time period.
trade explorer is at 25 days with currently +13% for nearly fully automated
But I guess the problem, if any, will be the big potential floating Risk of about -20%.Maybe one suggestion: base the lot size for instance on the actual SL so that each trade has the same opportunity (worth)
than such can not happen: (if TP is greater than SL)
Best Trade Return: 0.4%
Worst Trade Return: -0.5%
Money is important, Love is essential.
- #547
- May 23, 2013 11:10am May 23, 2013 11:10am
- Joined Apr 2011 | Status: "Never Give Up - Never Surrender" | 1,608 Posts
In the Selling Zone for EUR-USD
Bear in mind that this comment comes 9 hours after the initial oversold signal! So I did not see this as it happened - limited screen time I'm afraid.
Still new to this strategy, so all comments welcome.
"To live with Passion, it takes Courage and Grace to survive"
- #549
- Edited 8:30pm May 23, 2013 8:29pm | Edited 8:30pm
- Joined Jul 2011 | Status: Gold Again | 10,600 Posts
100pips could I have your opinion on Eur/Aud please. D1 above 20 and 50 EMA's H1 oversold so a buy signal. I am wondering how you see the bigger picture and if you see an imminent change of direction.
)You are right to be cautious in the short term, however, scope out to the weekly / monthly chart and you will see a bigger picture.
Can you turn around a super tanker quickly? a speeding train?
Much of what people will take from this method will be from the point in time when they begin to enter trades.
Backtesting of stock portfolios for instance, over long, long term, even shows there is difference from if you started investing in year or the following year.
This demo of mine was lucky enough to take 4 trades on May 15, so they are nearly to take profit line. See charts below.
So, the need for manual intervention is probably mandatory for this method.
The EA is excellent to show you when the indicators on both Daily and 1 Hour chart line up, as last night's entry you mention.
Run it on demo, trade small trades on real account, use stops, watch price action.
Hope that helps, E.
It takes a lot for me to IGNORE you, but you can try.
- #552
- May 24, 2013 2:41am May 24, 2013 2:41am
- Joined Jul 2011 | Status: Gold Again | 10,600 Posts
Thanks for your reply Erebus. I like the speeding train analogy. Personally I prefer the third screen direction off the D1 MACD (which is also showing a buy) and am trading that on a live account with small trades 0.01. Just watching 4 pairs that tend to trend, E/A, E/J, E/U and G/A. Unfortunately missing some entries when Williams goes into O/B O/S during the night when I am not at the PC. Would love an EA for the thrid screen method.
Amazing how price "knows" to go exactly the Daily Range
Of course, could still explode one way or the other
Yes, the D1 MACD is great method, I watch that on charts also
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