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Advanced engulfing bar system

  • #61
  • Mar 27, 2014 2:31am Mar 27, 2014 2:31am
ec +20pips
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  • #62
  • Mar 27, 2014 2:51am Mar 27, 2014 2:51am
Quoting covetousrat
First of all thank you smilee89 for sharing your system. I am currently trying it out. I just came across this setup GBP/JYP. The trade would end up with a loss of 75 pips (the purple line down). Can you give me your opinion. Should we take into consideration when the pair is within a ranging market and watch whether is it a fake breakout? Thanks. {image}
You did right.
fortunately, I missed it.
  • #63
  • Mar 27, 2014 4:07am Mar 27, 2014 4:07am
Hi smilee89,

Did you leave 0.5 trade size on @ your examples? Or did you close them completely at once @ 20 pips profit?
  • #64
  • Mar 27, 2014 4:22am Mar 27, 2014 4:22am
I mostly close all at 20, since I don't have it automatically, but sometimes I divide the trade to 2 X 0.5 lot.
  • #65
  • Mar 27, 2014 4:23am Mar 27, 2014 4:23am
Gold, xu (xauusd) + 20pips
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  • #66
  • Mar 27, 2014 4:29am Mar 27, 2014 4:29am
Quoting smilee89
I mostly close all at 20, since I don't have it automatically, but sometimes I divide the trade to 2 X 0.5 lot.
Aren't you in any way bothered by the fact that you're risking a whole lot more than your possible gain?
  • #67
  • Mar 27, 2014 4:34am Mar 27, 2014 4:34am
I am!
This is the reason why I ask for an EA.
It will give me the option to backtest it for a long time.
  • #68
  • Mar 27, 2014 4:47am Mar 27, 2014 4:47am
Quoting smilee89
I am! This is the reason why I ask for an EA. It will give me the option to backtest it for a long time.
Ok, so the reason you want the ea is so that you can figure out a profitable sl / ratio?
  • #69
  • Mar 27, 2014 5:29am Mar 27, 2014 5:29am
Hey smilee89,

Do you enter immediate if the next Heiken ashi bar is higher/ lower than the 'first bar that closes outside engulfing bar'? This happens when the previous bar closing high and continue to move higher next bar.

What pairs do you trade. Im testing (demon acc) on 13 pairs and in trade for 5 pairs and sell stop pending for 3 pairs.
  • #70
  • Mar 27, 2014 5:35am Mar 27, 2014 5:35am
Quoting Anusragger
{quote} Ok, so the reason you want the ea is so that you can figure out a profitable sl / ratio?
Yes, but not just it.
I want to figure out the TP for each pair, maybe using other SL or trailing it.
Much more to come, but it needs to be with an EA.
  • #71
  • Mar 27, 2014 5:36am Mar 27, 2014 5:36am
Quoting covetousrat
Hey smilee89, Do you enter immediate if the next Heiken ashi bar is higher/ lower than the 'first bar that closes outside engulfing bar'?
Yes, But after price breaks above/below that bar to close outside the engulfing bar.
  • #72
  • Mar 27, 2014 9:01am Mar 27, 2014 9:01am
ec +20pips
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  • #73
  • Mar 27, 2014 9:29am Mar 27, 2014 9:29am
lets say this is vely good

but with all this happening, one can really see one could get better entries for all
plus MM would be normal later on

I guess
  • #74
  • Mar 27, 2014 10:05am Mar 27, 2014 10:05am
Quoting smilee89
I am! This is the reason why I ask for an EA. It will give me the option to backtest it for a long time.
The EA is in work, i still fighting some bugs, but it looks promising

In that Test the 2 loss trades wouldnt be according to the rules, its an error...
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Online Prop Firms are not the solution
  • #75
  • Mar 27, 2014 11:54am Mar 27, 2014 11:54am
ea +20pips
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  • #76
  • Mar 27, 2014 12:30pm Mar 27, 2014 12:30pm
cadchf +20pips
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  • #77
  • Mar 27, 2014 1:56pm Mar 27, 2014 1:56pm
ucad +20pips
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  • #78
  • Mar 27, 2014 3:14pm Mar 27, 2014 3:14pm
I am testing this strategy and looks good , but i have an idea . Why not open position with the close of the candle out side the formation than wait for the break of the high part of the candle . I think this would be better ,
  • #79
  • Mar 27, 2014 11:40pm Mar 27, 2014 11:40pm
au +20pips
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  • #80
  • Mar 28, 2014 12:11am Mar 28, 2014 12:11am
Hello,

I am looking into this thread and starting to catch up on it... I MIGHT be able to code this EA.

The system sounds pretty decent from what I have read and I could obviously add on my own touches as well.

I'm not an excellent programmer, but I might be able to get it done. It would definitely take some time though.
Please check out my blog at https://from-zero-to-hero . net
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