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  • #101
  • Sep 9, 2014 3:41am Sep 9, 2014 3:41am
Subcribed, I'm curious ... Hehe

Thanks to aahmad29 for your efforts ... And Paracelsus and another members for you great work.
  • #102
  • Sep 9, 2014 3:59am Sep 9, 2014 3:59am
Paracelsus, are you trading live or demo testing?
  • #103
  • Sep 9, 2014 4:26am Sep 9, 2014 4:26am
Quoting Paracelsus
Guys, I am glad that my small summary has resonated with your views. I hope that we can work together to make "serious monies" from this "casino", i.e. game strategy applied to Forex markets. Today morning LO has provided an opportunity for almost instant TP with the "original" entry direction (as described in Post No.1). I open each series in the direction of the last M5 before LO and NYO, so my initial trade was a "sell" which has reached SL, then with "Level_2" mode "buy" it has reached TP. Concerning NYO, one may even choose even...
First of all i want to appreciate your efforts bcz you are answering most of questions. My job make it hard for me to answer all questions.

I liked your idea about three different entries and it came in my mind that most of major news are on 08:30 so we can use other option. I know i am asking more from you but if you have time, can you do forward testing with three entries.

Thanks for your participation
Love for all; Hatred for none.
  • #104
  • Sep 9, 2014 5:43am Sep 9, 2014 5:43am
Hi Mr.Ma,

Can you share the EA? This is the EA I look for long times. I will manual open long or short for the first trade. Then EA will automatic help me look for the balance.

Thank in advance.
  • #105
  • Sep 9, 2014 6:42am Sep 9, 2014 6:42am
Quoting Mr.Ma
Paracelsus, are you trading live or demo testing?
Yes, this is a live account with an ECN broker. The last screenshot shows the commission charged by the broker.
  • #106
  • Sep 9, 2014 8:04am Sep 9, 2014 8:04am
Quoting Jerkmiew
Hi Mr.Ma, Can you share the EA? This is the EA I look for long times. I will manual open long or short for the first trade. Then EA will automatic help me look for the balance. Thank in advance.
Sorry Jerkmiew,
I dont have an EA for this strategy... The trade simulator just makes it possible to trade with some historical data but you have to enter the trades manually as well!
What helped me with backtesting the strategy for the month of august was, everytime I entered a trade I also Setup a pending order with the right Parameters to the rules of this "game" this made it a lot easier for me
  • #107
  • Sep 9, 2014 8:06am Sep 9, 2014 8:06am
Quoting Paracelsus
{quote} Yes, this is a live account with an ECN broker. The last screenshot shows the commission charged by the broker.
very nice!
would you mind to PM me which Broker you are using?
  • #108
  • Sep 9, 2014 8:10am Sep 9, 2014 8:10am
And while Iam typing my 3rd go on the NYO hit my TP now.

Started short with the bearish M5 pre-open candle at 1.28899
SL hit at 1.28999 --> long at 1.28999
SL hit at 1.28899 --> short at 1.28872 (because Iam trading from my phone (at work) and missed the right entry)
TP hit at 1.28772
  • #109
  • Sep 9, 2014 8:18am Sep 9, 2014 8:18am
Hi There,
Nice thread guys.

I would like to test a different level. At the current 4 level one single loss wipes away 15 profitable days.
Maybe a level 3 with a slightly higher profit ratio (10SL vs 12TP).
I'd love to backtest this, but I have never done this in MT4.
Any ideas on where I should begin?

Thanks for the great effort and green pips to all.
  • #110
  • Sep 9, 2014 8:28am Sep 9, 2014 8:28am
Quoting freundr
{quote} I wonder if using a TP of 5-8 would produce an even higher % of success and less times spent going to a LV 3 or L4 trade. More frequent but smaller positive trades.
you have to keep the same as for tp and st. if you open a trade at 10 st 5 tp, if you losse one, how you will open the next ? this is compounding, if a trade hit stop, you need to win the next one for double the profits, you can stay with the same lot and double the pips, or double the lot and stay with the same pips.
  • #111
  • Sep 9, 2014 8:44am Sep 9, 2014 8:44am
09/09/2014:

LO: +10 pips (see previous screenshot)
NYO: +10 pips

According to the original method the first trade was a "BUY", i.e. instant PROFIT. It almost looks like that the initial trade's direction does not even matter.

It was also +10 pips using the "last M5 candle's direction" entry method (shown below), although it lasted slightly longer:

Attached Image (click to enlarge)
Click to Enlarge Name: NYO 0909.jpg Size: 398 KB
  • #112
  • Sep 9, 2014 9:27am Sep 9, 2014 9:27am
Am I right in stating that with such a trading system there is no confidence in the system will continue to perform into the future as it appears to now? You need confidence to trade well..
Keep It Simple Stupid
  • #113
  • Sep 9, 2014 9:39am Sep 9, 2014 9:39am
Quoting Smiler
Am I right in stating that with such a trading system there is no confidence in the system will continue to perform into the future as it appears to now? You need confidence to trade well..
Real confidence will come after I have at least 4 years' (i.e. approx. 1000 trading days') worth of backtest results, showing at least a 25:1 W:L ratio.

With 0.1 lot I can afford LIVE forward testing it while working on the backtests.

Nevertheless, I am still about to see the first losing day... (even with max. Level_4 entry). I know that it will come one day, and I am ready to face it. With 2 trades per day (LO and NYO) I need only 8 profitable days to recover one loss.
  • #114
  • Sep 9, 2014 9:46am Sep 9, 2014 9:46am
Keep hunting.
Keep It Simple Stupid
  • #115
  • Sep 9, 2014 9:50am Sep 9, 2014 9:50am
Quoting Smiler
Keep hunting.
...and "stay thirsty, my Friend"

Attached Image
  • #116
  • Sep 9, 2014 10:05am Sep 9, 2014 10:05am
Quoting Paracelsus
As the enclosed screenshot shows: ECN broker EURUSD spreads can be really low: {image} I am showing it in support for the above price chart. With larger spreads an additional SL would have been triggered, bringing in the +10 net profit only after the 6th entry.
paracelsus, can you please pm me about your ECN broker. i might use the same. my broker for now is fxcm and spread is 2.4, thank you so much and also to aamad for sharing this valuable method.
  • #117
  • Sep 9, 2014 10:49am Sep 9, 2014 10:49am
Quoting Mr.Ma
{quote} very easy... google fxblue trade simulator and you find a very usefull tool
+1 Thank you Mr Ma..
  • #118
  • Edited 8:24am Sep 10, 2014 4:52am | Edited 8:24am
Today LO was another +10 pips.
Going with the last M5 candle's direction (i.e. sell with LO) it was a fast +10 pips profit.
  • #119
  • Sep 10, 2014 5:15am Sep 10, 2014 5:15am
Quoting Paracelsus
Today was another +10 pips, but only with the 5th entry according to the original entry strategy. Going with the last M5 candle's direction (i.e. sell with LO) it was a fast +10 pips profit.
Just to make it clear how much is the 5th entry? 8 or 16?
I got hit today on the 3rd (I cannot go any higher) and it was mostly form the spread pips. But I'm testing the system.
  • #120
  • Sep 10, 2014 5:29am Sep 10, 2014 5:29am
Quoting Paracelsus
Today was another +10 pips, but only with the 5th entry according to the original entry strategy. Going with the last M5 candle's direction (i.e. sell with LO) it was a fast +10 pips profit.
so basing the first entry from last 5m candle is better than the original idea of aamad, maybe faster in achieving the TP. what do you think guys, the better idea is better for everyone. 5th entry is too risky.
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