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JPY Pair Daily Chart Trader EA

  • #41
  • Jan 12, 2014 7:08am Jan 12, 2014 7:08am
Quoting Scoobidoobi
Tried incorporating 30pip SL ,60pip TP ,15pip profit trail, its getting lots of Stoploss hits with V2 version of the bot , so I have left the idea for good
Having a tight SL on any JPY instrument is suicide.

I know because I used to trade the YEN for a number of different banks around the world.

Counter trend trading is fine as long as you are fully aware of related news which happens in multiple timezones. There are also some key areas around USDJPY regarding support/resistance which if you get wrong will blow your forex account in a matter of days.

The GBPJPY or Guppy is a beast to trade for good reasons.

Scoobs. (The original)
  • #42
  • Jan 12, 2014 7:15am Jan 12, 2014 7:15am
Wellsaid!, Can't ask for more Scoobs on GBP JPY (Beasty Pair), its in par with Gold/Silver in terms of wild nature of price action during news /events..
Scoobi doobi doo
  • #43
  • Jan 12, 2014 7:23am Jan 12, 2014 7:23am
If you want to trade JPY then you should be aware of the following.

- The Bank of Japan (BOJ) has its own dedicated traders which will intervene in the markets if the Yen is overbought or oversold. The reason for this is that they are one of the worlds biggest importers of oil. So watch the CADJPY very carefully. If you are on the wrong side of the trade then all your JPY pairs good suffer HUGE swings.

A good way of trading these pairs is just before Tokyo opens.

- If the Yen is oversold then SELL your JPY pairs. Why ?, because the BOJ traders will intervene to increase the strength of the YEN.
- If the Yen is overbought then BUY your JPY pairs. Why ?, because the BOJ traders will intervene to decrease the strength of the YEN.

This allows them to import oil and other stuff cheaper and keep overnight borrowing rates low.

Lastly, be VERY careful trading NZDJPY as the spread is usually huge and it tends to spike up/down when there is any news regarding the YEN.

Have fun.

Scoobs.
  • #44
  • Jan 12, 2014 7:29am Jan 12, 2014 7:29am
The GBPJPY is in a massive up trend at the moment breaking new resistance areas.

Having said that there was a large retrace on Friday. There is nothing to suggest that it is a trend reversal and the 25 day EMA has a gap of more than the average daily range over the 50 day EMA. It is/was in a key oversold area.

Therefore it would be wise when Tokyo opens tonight to place a BUY trade. But first check that there is no news affecting the YEN overnight.

Hope this helps

Scoobs.
  • #45
  • Jan 12, 2014 7:35am Jan 12, 2014 7:35am
Tomorrow is a bank holiday in Japan, so the BOJ traders wont be active unless some of their traders are based overseas (which they are).

Again, this is something you need to be aware of as it can mean less market interventions.

Scoobs.
  • #46
  • Jan 12, 2014 7:47am Jan 12, 2014 7:47am
Quoting Scoobidoobi
Perfect Telac!, let the EA only trade during London and US sessions with a time filter . I have removed RSI20 filter to get trades Is 30pip SL ,60pip TP ,15pip profit trail also fine?
Ya, I edited and tried that 120 day and got terrible results - much better the way you had it. As for SL and TP; I think just make this adjustable or perhaps as a multiple of ATR or ADR. As per scooby-doo's advice, a news filter may well be in order also. As a matter of interest I got some nice results from a number of other pairs besides the JPY ones on demo. I tested for a while a few months back and played with taking a global profit running many pairs using a trade management EA. Didn't keep records but as I recall I was running over 20 pairs. Did good for several weeks but then gave a lot back when there was a big trend change. However, I would think that with some of the mentioned changes and some optimization the results may well improve.

BTW - nice to see you again scooby-doo Always appreciated your wisdom
  • #47
  • Jan 12, 2014 8:01am Jan 12, 2014 8:01am
As you can see from the chart, a good buy trade has formed ready for market open.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpydaily.png Size: 49 KB
  • #48
  • Jan 12, 2014 9:01am Jan 12, 2014 9:01am
If you like trading the YEN then please read the attached document.

Its a rather long read but well worth it.

Scoobs
Attached File(s)
File Type: pdf BOJ Intervention Policy.pdf   331 KB | 762 downloads
  • #49
  • Jan 12, 2014 11:23am Jan 12, 2014 11:23am
Quoting scooby-doo
If you like trading the YEN then please read the attached document. Its a rather long read but well worth it. Scoobs {image}
Hi scoobs,
nice to see you back.
  • #50
  • Jan 12, 2014 11:37am Jan 12, 2014 11:37am

Quoting tebis
{quote} Hi scoobs, nice to see you back.
Yeah, its been awhile.

Back and ready to rumble.
  • #51
  • Jan 12, 2014 4:18pm Jan 12, 2014 4:18pm
Welcome back Scoobs. Missed your wisdom and presence. Dont know if you have kept up but some new developments have happened. Great to see you again.
  • #52
  • Jan 12, 2014 5:02pm Jan 12, 2014 5:02pm
Quoting nanningbob
Welcome back Scoobs. Missed your wisdom and presence. Dont know if you have kept up but some new developments have happened. Great to see you again.
Thanks for your kind words bob.
  • #53
  • Jan 13, 2014 12:32pm Jan 13, 2014 12:32pm
Quoting scooby-doo
{quote} Thanks for your kind words bob.
Hear, Hear.. Totally agree.. Welcome back scooby-doo.. welcome Back.
  • #54
  • Jan 14, 2014 9:18am Jan 14, 2014 9:18am
Hi all!

I used this EA in the EUR / USD (4-digits - cent account) and I got an excellent result, but when I went to use it in an account that uses 5 digits it did not work properly.

Anyone here could help me adjust the system to work properly in accounts of 5 digits?

Attached Image (click to enlarge)
Click to Enlarge Name: StrategyTester.gif Size: 8 KB



Thank you :-)
  • #55
  • Jan 14, 2014 9:52am Jan 14, 2014 9:52am
Quoting eliseu
Hi all! I used this EA in the EUR / USD (4-digits - cent account) and I got an excellent result, but when I went to use it in an account that uses 5 digits it did not work properly. Anyone here could help me adjust the system to work properly in accounts of 5 digits? {image} Thank you :-)

Not sure about the 5 digit problem. I must say my results vary from yours tho.

What settings did you use, over what dates? Could you upload your set file?

Tx
  • #56
  • Jan 14, 2014 10:23am Jan 14, 2014 10:23am
Quoting burningmunke
{quote} Not sure about the 5 digit problem. I must say my results vary from yours tho. What settings did you use, over what dates? Could you upload your set file? Tx

E/U - Period 4 Hours (H4) 2013.01.01 20:00 - 2013.12.27 20:00 (2013.01.01 - 2013.12.31)

I changed RSI from 20 to 14

See the file below,
Attached Image (click to enlarge)
Click to Enlarge Name: Sem título.png Size: 45 KB
  • #57
  • Jan 14, 2014 12:10pm Jan 14, 2014 12:10pm
Quoting eliseu
{quote} E/U - Period 4 Hours (H4) 2013.01.01 20:00 - 2013.12.27 20:00 (2013.01.01 - 2013.12.31) I changed RSI from 20 to 14 See the file below, {image}

Hmm, Im making a loss over the same period. Not able to change the RSI to 14 though. How did you do that? I don't seem to see an option to change it..
  • #58
  • Jan 14, 2014 12:20pm Jan 14, 2014 12:20pm
Quoting burningmunke
{quote} Hmm, Im making a loss over the same period. Not able to change the RSI to 14 though. How did you do that? I don't seem to see an option to change it..
Please see the file below,
Attached File(s)
File Type: rar 2013.rar   20 KB | 491 downloads


It's my Report (Strategy Tester)
  • #59
  • Jan 14, 2014 12:26pm Jan 14, 2014 12:26pm
Quoting eliseu
{quote} Please see the file below, {file} It's my Report (Strategy Tester)

I changed
Inserted Code
From:
double rsi20 = iRSI(Symbol(),PERIOD_H4,20,PRICE_CLOSE,0);     /* periodo original do rsi é 20 */
      if (rsi20 > 45 && rsi20 <  55) atrresult = "Range-Bound";
      if (rsi20 > 55) atrresult = "UP";
      if (rsi20 < 45) atrresult = "DOWN";

To:
double rsi20 = iRSI(Symbol(),PERIOD_H4,14,PRICE_CLOSE,0);     /* periodo original do rsi é 20 */
      if (rsi20 > 45 && rsi20 <  55) atrresult = "Range-Bound";
      if (rsi20 > 55) atrresult = "UP";
      if (rsi20 < 45) atrresult = "DOWN";
  • #60
  • Jan 14, 2014 12:51pm Jan 14, 2014 12:51pm
Quoting eliseu
{quote} I changed From: double rsi20 = iRSI(Symbol(),PERIOD_H4,20,PRICE_CLOSE,0); /* periodo original do rsi é 20 */ if (rsi20 > 45 && rsi20 < 55) atrresult = "Range-Bound"; if (rsi20 > 55) atrresult = "UP"; if (rsi20 < 45) atrresult = "DOWN"; To: double rsi20 = iRSI(Symbol(),PERIOD_H4,14,PRICE_CLOSE,0); /* periodo original do rsi é 20 */ if (rsi20 > 45 && rsi20 < 55) atrresult = "Range-Bound"; if (rsi20 > 55) atrresult = "UP"; if (rsi20 < 45) atrresult = "DOWN";

Bah I don't have a clue how to edit code lal. Could you possible post ur modified EA? I'm keen to test this on my PS 5 digit...
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