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Davit's BB Wave System

  • #861
  • Aug 29, 2014 3:23am Aug 29, 2014 3:23am
Quoting Davit
Chris and others Green pips will have to go to sleep. Good night
Rest well Davit.
Ghost Rider - WWTBMD?
  • #862
  • Aug 29, 2014 11:47am Aug 29, 2014 11:47am
Time to post the updated Version of the BB_WAVE_CounterTrend_EA.

do not use this version on a live account until it is further tested on demo to be bug free.
If you use it on a life account, you do so on your own risk. There are no warranties or guarantees.
Donīt use this EA if you did not understand the strategy behind it!
Donīt blame me for losses on a life account,

Short manual description:
this version will work until 31.12.2014 after this time it wonīt not open any other trades.
please note the prolonged Tradeduration, sure if you use a trailingstop itīs possible to exit in the next day(s)


range = minimum pip distance between 2 orders when the open criteria is fullfilled, be carefull on pairs like the dragon!
level = maximum open orders!
tp in money = close all orders of the same symbol at a defined profit in money (account currency)

you have to attach the EA to on every currency chart you want to trade, use different magic numbers for each symbol, Daily TF is recommended.

this EA is for free, but when there is no feedback, bug reports, tips for improvement, donīt expect an improved Version pubilshed here
in the coming weeks.

sharing ideas/work is always a two way mirror, thats what forums are for!

have fun and thank you for testing and sharing ideas.

trade safe!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Unbenannt.PNG Size: 64 KB
Click to Enlarge Name: Unbenannt1.PNG Size: 62 KB
Attached File(s)
File Type: ex4 29-08-2014_Davit_BB_Wave_Test.ex4   31 KB | 388 downloads
just do it
  • #863
  • Edited 12:49pm Aug 29, 2014 12:02pm | Edited 12:49pm
UPdate on my trading
DD on UJ
DD on AN
DD on CAD/JPY but very minor

Closed fresh short on EJ from 37 2x(limit order) at 3673 +50pips

Thanks guys for your Contributions

Correction on UJ is still "due" for higher levels.
103-102.90 so holding over weekend although spike up is likely but not fazed.

UJ Fibs from last swing lend on 38.2 at 103.21 50% 102.88
looking for 103.21 1st target
In trading, you have to be defensive and aggressive at the same time
  • #864
  • Aug 29, 2014 5:16pm Aug 29, 2014 5:16pm
Hi Davit

Sorry I haven't posted this earlier.....

Just going back to the CADJPY trade.

This is what you said about a counter trend trade:
2nd Part Counter trade daily chart
PA inside 2nd 3rd Deviation
RSI 70/30 and above WR% above -20 below-80

What confused me is you stated that RSI and WR% were turning down. That is why I asked about the daily close as we all know the daily indicators can show an upturn or downturn but they're not locked in until the day closes. In your rules for a CT trade you state the RSI and WR% just need to be overbought in the case of the CADJPY trade. I take it if the indicator is turning down as the day progresses as with the CADJPY trade this is just used as further confirmation? Would that be a correct assessment of how you use the RSI and WR% on a CT trade?
Attached Image (click to enlarge)
Click to Enlarge Name: CADJPYDaily 30.8.14.png Size: 47 KB
  • #865
  • Aug 30, 2014 12:00am Aug 30, 2014 12:00am
Quoting ozziedave
Hi Davit Sorry I haven't posted this earlier..... Just going back to the CADJPY trade. This is what you said about a counter trend trade: 2nd Part Counter trade daily chart PA inside 2nd 3rd Deviation RSI 70/30 and above WR% above -20 below-80 What confused me is you stated that RSI and WR% were turning down. That is why I asked about the daily close as we all know the daily indicators can show an upturn or downturn but they're not locked in until the day closes. In your rules for a CT trade you state the RSI and WR% just need to be overbought in...
Hi Dave
Yes your last sentence is correct.Any time RSI WR% pointing down and in BB zone then trade is valid.The reason I don't like waiting daily close because lot of distance PA can move before that occurs and in fact diminishing the edge.
This is more obvious on all my EJ trades when price dropped 50 pips down after entry and bounced up within 1day.Had I waited that would not have profitable trade.My system is somewhat advance that it mimics PA in real time instead of waiting 5 MA cross overs and all that BS.
I trade aggressively because I recognize that PA moves fast.If for any reason this makes you feel unease I suggest choose system that is more conservative.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #866
  • Aug 30, 2014 7:24am Aug 30, 2014 7:24am
Thanks Davit..

Just trying to understand the details of how you look at trade set ups.
  • #867
  • Aug 30, 2014 12:44pm Aug 30, 2014 12:44pm
Good morning guys.
Spent great deal reading on Yen.Overall sentiment is bullish.BOJ may start easing even more in 2015 forcing Yen 105+ to even 110
If I see no sign of retrace I will take the loss on all Yen trades.
In trading, you have to be defensive and aggressive at the same time
  • #868
  • Aug 30, 2014 1:42pm Aug 30, 2014 1:42pm
@thodie

I'll test your EA, demo, forward, all pairs. The demo acc (broker Global Prime) is linked to MFXB so here you can watch continously (day and night ) the trades + trade results:
http://www.myfxbook.com/members/TGTFX1 (MT4-2000130). Hope that helps and will bring us success.
  • #869
  • Aug 30, 2014 1:45pm Aug 30, 2014 1:45pm
Quoting Davit
Good morning guys. Spent great deal reading on Yen.Overall sentiment is bullish.BOJ may start easing even more in 2015 forcing Yen 105+ to even 110 If I see no sign of retrace I will take the loss on all Yen trades.
good morning Davit, means down on CadJpy? because im short on it.
  • #870
  • Aug 30, 2014 2:01pm Aug 30, 2014 2:01pm
@thodie
I'll use the bot nearly OOTB.
Could explain plz:
What is Exittrigger ?
trailStop_std - is it to type in pips... right ? 50 pips for the daily I use is ok I think that's reasonable ?
Hmm range ? Haven't a clue what's the best ... I leave it untouched - 10 ? Or better 20 for the "wild" pairs ?
AND: what about the lot size ? Cant see any possibility for choosing a lot size or risk number ?
  • #871
  • Aug 30, 2014 10:04pm Aug 30, 2014 10:04pm
Quoting DerBerliner
@thodie I'll use the bot nearly OOTB. Could explain plz: What is Exittrigger ? trailStop_std - is it to type in pips... right ? 50 pips for the daily I use is ok I think that's reasonable ? Hmm range ? Haven't a clue what's the best ... I leave it untouched - 10 ? Or better 20 for the "wild" pairs ? AND: what about the lot size ? Cant see any possibility for choosing a lot size or risk number ?
Hello and nice sunday,

EMA exit means, the EA will close all open positions on the next meeting with the EMA34 on Daily TF
Exittrigger is an exit in case of a countersignal so if you have som buy positions, they will be closed in case
of a sell signal that works good in range but can be worse in a strong trend.
The Trailingstop can work in both variants to activate enter the amount of pips you want to trail, if you want to
deactivate the trailingstop just enter a zero.

Range depends not only on pair, also on the account size and risk aversion, GBP/USD for example had the first buy signal aroungd 1.69 - so the ea would have been buying everytime the condition would be met. Thatīs many pips and it can happen, so donīt forget about the fundamentals.

Lotsize is restricted to 0.01Lot as i donīt want people to loose serious money on their life accounts. Not everybody listen when i say
test on DEMO.
A minor bug in the first version caused a rapidfire of more than 4000trades with 0.50 start lot and crashed an 50K demoaccount within hours only
by the spread.

Donīt take it personal, see it as a protection from ourself , the forward tests on demo will show what this EA is able to do and what not.
As this EA aims for xxx pips marginal differences in the spread wonīt have much impact.

regards thodie
and thanks for testing!
just do it
  • #872
  • Aug 31, 2014 1:55am Aug 31, 2014 1:55am
Quoting Facu
{quote} good morning Davit, means down on CadJpy? because im short on it.
Incorrect.Base currency is CAD so weaker Yen means it will take more yen to buy 1 Cad.

Weaker Yen means Any pair that has XXX/JPY will go up and reverse true. So CAD/JPY will go up if Yen continues to weaken.
We will see how markets react next week.I am short on CAD/JPY myself

I suggest you read little about base currency
In trading, you have to be defensive and aggressive at the same time
  • #873
  • Aug 31, 2014 2:29am Aug 31, 2014 2:29am
CAD/JPY close is actually Bearish
Tiny Bull candle is engulfed by Bear candle before it.
Attached Image (click to enlarge)
Click to Enlarge Name: CADJPY.Daily.png Size: 23 KB
In trading, you have to be defensive and aggressive at the same time
  • #874
  • Aug 31, 2014 2:44am Aug 31, 2014 2:44am
Quoting Davit
Good morning guys. Spent great deal reading on Yen.Overall sentiment is bullish.BOJ may start easing even more in 2015 forcing Yen 105+ to even 110 If I see no sign of retrace I will take the loss on all Yen trades.
Good morning Davit Did you catch this one by chance. I found it interesting.

http://www.marctomarket.com/2014/08/...technical.html

EDIT: And oh, I knew what you meant (YEN being sold) but by your wording above, I can see why some readers may have been confused to thinking you meant the "yen" is bullish.
Ghost Rider - WWTBMD?
  • #875
  • Aug 31, 2014 2:52am Aug 31, 2014 2:52am
Quoting albchr
{quote} Good morning Davit Did you catch this one by chance. I found it interesting. http://www.marctomarket.com/2014/08/...technical.html EDIT: And oh, I knew what you meant (YEN being sold) but by your wording above, I can see why some readers may have been confused to thinking you meant the "yen" is bullish.
GM Chris
What do you make out of the article.Your view?

My view is that market is positioning Oct QE end as Feds promised and 6-8months later interest rate hike.During this entire process we could see prolonged USD gains unless subsequent months data comes out negative then Yellen could keep extending date of IR hike.
Only reservation I have all the talking heads are saying 105 Yen is eminent then break out to 110 very possible.Seems too easy.Who is out there making millions based on what CNBC is saying....
Guppy inventor of Guppy averages predicts 106 then very sharp drop.He gets my vote...
funny guy
http://video.cnbc.com/gallery/?video=3000305549#.
In trading, you have to be defensive and aggressive at the same time
  • #876
  • Aug 31, 2014 3:03am Aug 31, 2014 3:03am
Quoting albchr
{quote} Good morning Davit Did you catch this one by chance. I found it interesting. http://www.marctomarket.com/2014/08/...technical.html EDIT: And oh, I knew what you meant (YEN being sold) but by your wording above, I can see why some readers may have been confused to thinking you meant the "yen" is bullish.
You are right.My wording was confusing.
In trading, you have to be defensive and aggressive at the same time
  • #877
  • Edited 3:27am Aug 31, 2014 3:16am | Edited 3:27am
Quoting Davit
{quote} GM Chris What do you make out of the article.Your view?
Well, as you know fundamentals have never been my strong point and I'm still trying to learn more but as I interpret it, it would seem the dollar is poised to keep gaining strength against everything but the sterling. (Basically it's just now catching up to all that good data recently) Still, confidence in it "sustaining" those gains is weak but it seems that's the flow as of now for investors. So I can see more upside for the dollar.

Obviously the YEN is not seen as a very good risk at this point and large short orders seem to in place. Although I expect some retrace on most XXX/JPY pairs, they'll be short lived. This "possibly" excludes the EUR/JPY for obvious reasons concerning the EUR.

Basically my take is it agrees with what we already see in the charts. EU has more downside to at least my target of 1.31038. If that fails to hold 1.27576 is next major SR. GU I still expect to rise from "around" here to at least 6900. Probably more but we'll see at that point. UJ is certainly going to gain over the rest of this year. 105 next stop but I'm pretty sure we'll slightly higher as well. 110? I don't think so. The CAD is a trick shot right now at about 50/50. Movement in CAD pairs will largely depend on their counterparts me thinks. At least near term.

What's your take from the article?

EDIT: Never mind I see you added to your post.
Ghost Rider - WWTBMD?
  • #878
  • Aug 31, 2014 3:21am Aug 31, 2014 3:21am
Quoting Davit
{quote} You are right.My wording was confusing.
Yeah lot's of folks refer to UJ as the YEN. Used to confuse me too when I'd read the "yen" is weak or strong but they actually meant UJ is weak or strong. lol
Ghost Rider - WWTBMD?
  • #879
  • Aug 31, 2014 3:31am Aug 31, 2014 3:31am
I have a question though. What's your (or anyone else's) take on the COT?

I read much from many and it seems folks either swear by it or against it. There never seems to be much middle ground on the opinions to it's accuracy.
Ghost Rider - WWTBMD?
  • #880
  • Edited 3:50am Aug 31, 2014 3:33am | Edited 3:50am
Quoting albchr
{quote} Yeah lot's of folks refer to UJ as the YEN. Used to confuse me too when I'd read the "yen" is weak or strong but they actually meant UJ is weak or strong. lol
Its interesting perhaps how so many of us underestimated Last Feds announcement.Now it looks lot of big guns were waiting to unload on cue.
I am very curious how Sept shapes.
If ECB goes with QE 1.25 Euro is not out of question (with USD interest rate hike almost guaranteed EU under 1.30)finally all the negative fundamentals can't be ignored anymore by EZ specially extreme high unemployment and lack of growth.
In this context continued depreciation of Euro added Ukraine crises on top of it will drag GU lower as well.I am not ready to long GU yet.

Deutsche Bank's Major Currency Forecasts

Little extreme and way off on Yen,GU and EU but in general correct on downtrend
Interesting that they view Dollar being the king in coming months.
Note that both EU and GU are significantly lower but also note EG is only 300pips range suggesting they don't see significant Pound gain.


http://www.efxnews.com/sites/default...c13_2/m117.PNG
I still have their original PDF when I started shorting EU from 139.I wished I never exited those trades!!!
Regards
In trading, you have to be defensive and aggressive at the same time
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