My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
As simple as possible: 00 level trading
- #301
- Jun 4, 2014 6:35pm Jun 4, 2014 6:35pm
- Joined Mar 2012 | Status: Trader | 14,369 Posts | Online Now
- #307
- Edited 10:49pm Jun 4, 2014 10:18pm | Edited 10:49pm
Hi Udine,
I create a automatic trading EA base on your idea.
Here the chart that I created and the 2 winning trades undertook today.
Since you talk about lesser screen time, an EA might do the job
As you can see in the history, 2 trades was taken, both win, but the SL was 10 pips and TP was 5 pips.
Question:
Should I adjust the SL and TP to both 10 pips so they got a 1:1 RR or I should keep it this way or adjust to another value?
The rule as I know is
if price is above Daily Open - Look for LONG only
if price is below Daily Open - Look for SHORT only
Further to the above rules, price need to be above hour open, for long - Hour + Day Open need to be higher than its open to get a valid Long
Vice versa for short.
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I also set it to take a trade every hour if VALID (which means match your rules) between tokyo and new york session.
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Please ignore my template as they don't affect the EA in operation.
I create a automatic trading EA base on your idea.
Here the chart that I created and the 2 winning trades undertook today.
Since you talk about lesser screen time, an EA might do the job
As you can see in the history, 2 trades was taken, both win, but the SL was 10 pips and TP was 5 pips.
Question:
Should I adjust the SL and TP to both 10 pips so they got a 1:1 RR or I should keep it this way or adjust to another value?
The rule as I know is
if price is above Daily Open - Look for LONG only
if price is below Daily Open - Look for SHORT only
Further to the above rules, price need to be above hour open, for long - Hour + Day Open need to be higher than its open to get a valid Long
Vice versa for short.
------
I also set it to take a trade every hour if VALID (which means match your rules) between tokyo and new york session.
------
Please ignore my template as they don't affect the EA in operation.
Learn to Trade is Important. Keep your bias & ego aside.
- #311
- Jun 4, 2014 11:01pm Jun 4, 2014 11:01pm
- Joined Jul 2008 | Status: Trader | 5,763 Posts
Your reward = 2% per trade Your risk = 4% per trade What is your max risk % on a daily basis? Do you know the win % if you adjusted to a 1:1 R/R ratio? Just curious if the way you trade is the only profitable way. Thank you for sharing.
Not correct..
Daily target = 2 % = 10 pips
target per trade = 5 pips = 1 %
risk per trade = 2 %
At the same time i have max 2 trades active: one EJ and one GJ
Nope, never tested 1:1
I simply watched the charts and noticed the price most of the time reached 5 pips after crossing a 00 level
thats all.
Sleep less, live fast, as it aint gonna last 
- #312
- Jun 4, 2014 11:03pm Jun 4, 2014 11:03pm
- Joined Jul 2008 | Status: Trader | 5,763 Posts
Sleep less, live fast, as it aint gonna last
- #313
- Jun 4, 2014 11:05pm Jun 4, 2014 11:05pm
- Joined Jul 2008 | Status: Trader | 5,763 Posts
Sleep less, live fast, as it aint gonna last
- #314
- Jun 4, 2014 11:09pm Jun 4, 2014 11:09pm
- Joined Jul 2008 | Status: Trader | 5,763 Posts
Sleep less, live fast, as it aint gonna last
- #315
- Jun 4, 2014 11:12pm Jun 4, 2014 11:12pm
- Joined Jul 2008 | Status: Trader | 5,763 Posts
Hi Udine, I create a automatic trading EA base on your idea. Here the chart that I created and the 2 winning trades undertook today. {image} Since you talk about lesser screen time, an EA might do the job As you can see in the history, 2 trades was taken, both win, but the SL was 10 pips and TP was 5 pips. Question: Should I adjust the SL and TP to both 10 pips so they got a 1:1 RR or I should keep it this way or adjust to another value? The rule as I know is if price is above Daily Open - Look for LONG only if price is below Daily Open - Look for...
From your results I notice that entries were not correct, but PM me please
Although I doubt there is a need for an EA, as plenty times with the London open I get my daily dose of 10 pips and am done trading within 30 minutes of "active worktime".
When I hear EA, then I think the greed factor is taking over
Cheers,
Udine
Sleep less, live fast, as it aint gonna last
- #316
- Jun 4, 2014 11:13pm Jun 4, 2014 11:13pm
- Joined Jul 2008 | Status: Trader | 5,763 Posts
Sleep less, live fast, as it aint gonna last
big smile from Down Under. Long time since we spoke.
{quote} Use Google Udine
Will be good if you can enlighten.The purpose for EA is to maintain the level of entry to the most standardize way, to ensure that the mind will never falter and the emotions will not get into play
The 3rd trade that the EA done was also in profit.
Would like to know how to improve it.
Learn to Trade is Important. Keep your bias & ego aside.