3 different targets system on GJ | Forex Factory

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3 different targets system on GJ

  • #1
  • First Post: Edited Mar 26, 2015 3:08pm Mar 24, 2015 7:58am | Edited Mar 26, 2015 3:08pm
Here is one more Idea i was manually backtesting for a couple of day's.

_________________________________________________________________


Pair used : GBPJPY (because it's one of the most volatile pair and it has big movements 24/5)

Lot's used : 0.1 for per 2K (because it can make 6,000+ pips in 5 days or so, in 1 day it can lose 1,000 pip as well as gain 3,000)

Timeframe used : 1 hour

Indicators used : 2 Moving Averages (66, simple, close (color red)), (50, simple, close (color blue)). (because it shows the break we need).

Trade long when : 50MA crosses 66MA up

Trade short when : 50MA crosses 66MA down (yes, simple as that)

Keys to the system:

- We trade every new 1 hour candle open.
- 3 entries every hour.
- 3 different stop losses for each position.
- 3 different take profits for each position.

Position #1 : 70TP - 50SL
position #2 : 60TP - 40SL
Position #3 : 50TP - 30SL

All of them are opened at the same time (!)

_________________________________________________________________

Here is the EA, Thanks to uafx for his great help
Attached File(s)
File Type: mq4 GJ_3STRIKES_EA.mq4   7 KB | 561 downloads | Uploaded Mar 26, 2015 3:07pm
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  • #2
  • Mar 25, 2015 10:34am Mar 25, 2015 10:34am
As I understood:

You open every hour 3 new positions, if 50MA is above 66MA then 3 longs, if 50MA is below 66MA then 3 shorts.
Positions are open until SL or TP hit, no other trade management necessary.

Am I right?
  • #3
  • Mar 25, 2015 10:52am Mar 25, 2015 10:52am
Quoting uafx
As I understood: You open every hour 3 new positions, if 50MA is above 66MA then 3 longs, if 50MA is below 66MA then 3 shorts. Positions are open until SL or TP hit, no other trade management necessary. Am I right?

correct
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  • #4
  • Mar 25, 2015 12:13pm Mar 25, 2015 12:13pm
Quoting Nik13
{quote} correct
OK, then it seems not too difficult to create an EA for this....
I hope I will have the time to do it before weekend.. I will post it if it's ready...

I am very curious if such a mechanical system can be profitable with manageable drawdown...:-)
  • #5
  • Mar 25, 2015 12:33pm Mar 25, 2015 12:33pm
Quoting uafx
{quote} OK, then it seems not too difficult to create an EA for this.... I hope I will have the time to do it before weekend.. I will post it if it's ready... I am very curious if such a mechanical system can be profitable with manageable drawdown...:-)

I will appreciate that.

Thanks
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  • #6
  • Mar 25, 2015 12:33pm Mar 25, 2015 12:33pm
Do you just trade during specific market hours (for example only during London and New York) or do you recommend to trade it all around the clock?
  • #7
  • Mar 25, 2015 1:02pm Mar 25, 2015 1:02pm
Quoting Mr.Ma
Do you just trade during specific market hours (for example only during London and New York) or do you recommend to trade it all around the clock?

24/5
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  • #8
  • Mar 26, 2015 4:30am Mar 26, 2015 4:30am
hallo Nik13,
i wanted to ask you if any of your trade explorer is connected to this system ...
i think not but i just wanted to be sure
thanks
  • #9
  • Edited 6:19am Mar 26, 2015 5:59am | Edited 6:19am
Quoting Pipsverdi
hallo Nik13, i wanted to ask you if any of your trade explorer is connected to this system ... i think not but i just wanted to be sure thanks

No, none of them are connected to this system.

I do not have EA for this system yet, hope i'will soon.
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  • #10
  • Mar 26, 2015 1:33pm Mar 26, 2015 1:33pm
Quoting Nik13
{quote} I will appreciate that. Thanks
OK, here is a first version of EA, I think the code and the input parameters are self explanatory.
Works on 4 or 5 digit brokers automatically, so you don't have to multiply the pip values if you use a 5 digit broker.

Works on every timeframe, every pair, at every new candle it opens 3 positions according to the rules, with the given SL and TP parameters.

Nothing extra in the code yet, just the pure logic. I begin testing it on demo account.

Attached File(s)
File Type: mq4 GJ_3STRIKES_EA.mq4   7 KB | 291 downloads
  • #11
  • Mar 26, 2015 1:44pm Mar 26, 2015 1:44pm
Quoting uafx
{quote} OK, here is a first version of EA, I think the code and the input parameters are self explanatory. Works on 4 or 5 digit brokers automatically, so you don't have to multiply the pip values if you use a 5 digit broker. Works on every timeframe, every pair, at every new candle it opens 3 positions according to the rules, with the given SL and TP parameters. Nothing extra in the code yet, just the pure logic. I begin testing it on demo account. {file}

Ok, Thank you very much.

I will play with it.

Even though I do not believe in backtest results, I will give a try, to see "how it works" in general.

Let you know.

Thanks one more time.
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  • #12
  • Mar 26, 2015 1:57pm Mar 26, 2015 1:57pm
Quoting Nik13
{quote} Ok, Thank you very much. I will play with it. Even though I do not believe in backtest results, I will give a try, to see "how it works" in general. Let you know. Thanks one more time.
I think forward testing would be much reliable... that's what I will do...:-)

may I ask how much manual test did you make? And were these tests on trending or on ranging markets? This will be the key, if the wins on trending days is more than the losses of ranging... then...:-)
  • #13
  • Mar 26, 2015 2:04pm Mar 26, 2015 2:04pm
Quoting uafx
{quote} I think forward testing would be much reliable... that's what I will do...:-) may I ask how much manual test did you make? And were these tests on trending or on ranging markets? This will be the key, if the wins on trending days is more than the losses of ranging... then...:-)

I always do backtests of systems like that on ranging market, since I am sure that it will work on trend.

PS, GJ is the pair, which has almost no ranging conditions, that's why I chose it almost for every strategy of mine.

and I agree, forward testing is always much reliable, back testing is not reliable at all if you ask me.
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  • #14
  • Mar 26, 2015 2:05pm Mar 26, 2015 2:05pm
Quoting uafx
{quote} I think forward testing would be much reliable... that's what I will do...:-) may I ask how much manual test did you make? And were these tests on trending or on ranging markets? This will be the key, if the wins on trending days is more than the losses of ranging... then...:-)

One more thing, it takes forever to test system like this manually for long period of time (even 15 day manual back test is hell), so I did 15 day back test.
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  • #15
  • Mar 26, 2015 2:11pm Mar 26, 2015 2:11pm
Quoting Nik13
{quote} One more thing, it takes forever to test system like this manually for long period of time (even 15 day manual back test is hell), so I did 15 day back test.
Sure, I wouldn't have been able to do this 15 day manual backtest... respect for that...:-)

And did this backtest give positive results?
  • #16
  • Mar 26, 2015 2:12pm Mar 26, 2015 2:12pm
Quoting uafx
{quote} Sure, I wouldn't have been able to do this 15 day manual backtest... respect for that...:-) And did this backtest give positive results?
Thanks,

Yes, 6804 pip profit.
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  • #17
  • Mar 26, 2015 2:32pm Mar 26, 2015 2:32pm
while backtesting with ST, EUR/AUD looks good, definitely better than GJ.
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  • #18
  • Mar 26, 2015 2:40pm Mar 26, 2015 2:40pm
Nik13,could you please share your settings? I tried to BT with default settings(GJ),the result was terrible...
  • #19
  • Mar 26, 2015 2:46pm Mar 26, 2015 2:46pm
Does this work good? As I understand it the blue MA should cross the Red one. Yet when I applied it to my chart, by the time the blue line crossed, most of the move was already over...
  • #20
  • Mar 26, 2015 2:48pm Mar 26, 2015 2:48pm
Quoting bazze
Nik13,could you please share your settings? I tried to BT with default settings(GJ),the result was terrible...
Thanks for replay friend,

Result is terrible for me as well, but once again, Bakctest does not matter. It's simply DOES NOT WORK. (if you want I can PM you whole post why it does not work)

but anyway, try EURAUD if you want, you will see a better result (uncheck Use Data and Visual Mode).

only forward test counts, ALWAYS.
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