Follow the monthly candle and be profitable | Page 88 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Follow the BIG Candle 322 replies

Follow Last Candle EA 10 replies

Follow the prior Heiken Ashi candle for profits 61 replies

How to make EA that send Open Price of Candle for every new candle 5 replies

Correlation between first 4 hour candle and daily candle 1 reply

Attachments: Follow the monthly candle and be profitable
Exit Attachments

Follow the monthly candle and be profitable

  • #1,741
  • Apr 22, 2015 4:08pm Apr 22, 2015 4:08pm
Quoting Erebus
{quote} Good questions: I put each order manually, from AUDCAD to USDJPY I used equal risk of 5% for each trade I calculate the lot size with a script I used 1 x ADR for stop loss calculation in the script I used an EA to set profit target & stop loss for when the trade entered But today, I will do without stop loss or profit target, just trade as a basket End of trades will be +11% gain or -5% loss {image}
very good erebus
i made mine in xls

Attached Image (click to enlarge)
Click to Enlarge Name: xl.png Size: 17 KB
  • #1,742
  • Apr 22, 2015 4:17pm Apr 22, 2015 4:17pm
Quoting Erebus
{quote} End of trades will be +11% gain or -5% loss {image}
Hipotetical situation:
You set 10 pending orders. All of them open at the same time , and immediatly go to SL. Each trade has risk=5% ,so total risk is 50%. Am i right?

Do you use only one EA which calculate all variables (SL,TP) and also let you manage all positions as a basket?
  • #1,743
  • Apr 22, 2015 4:27pm Apr 22, 2015 4:27pm
Quoting dimdel
{quote} very good erebus i made mine in xls {image}
I don't understand how you did that;

say I want a trade on EUR-GBP, risk 5%, Stop Loss 56 pips, what does your xls calculate for Lot Size??
It takes a lot for me to IGNORE you, but you can try.
  • #1,744
  • Apr 22, 2015 4:37pm Apr 22, 2015 4:37pm
Quoting iwan73
{quote} Hipotetical situation: You set 10 pending orders. All of them open at the same time , and immediatly go to SL. Each trade has risk=5% ,so total risk is 50%. Am i right? Do you use only one EA which calculate all variables (SL,TP) and also let you manage all positions as a basket?
1. Yes, that is correct, 50% loss (assuming I put the stop loss AND they honor it, hypothetically of course)

2. Either you have a reading problem or a comprehension problem because I clearly stated:

a) Post 1735 - http://www.forexfactory.com/showthre...29#post8220929

" All trades closed by Equity Sentry EA " and there is a picture

b) Post 1740 http://www.forexfactory.com/showthre...82#post8222582

" I calculate the lot size with a script " and there is a picture

iwan73 = Please read the posts twice, think about the content, look at the pictures carefully, BEFORE asking questions THINK

as I am quite tired of reposting and referring you to information that has already been given!!
It takes a lot for me to IGNORE you, but you can try.
  • #1,745
  • Apr 22, 2015 4:49pm Apr 22, 2015 4:49pm
All set for Day 2 trial, well almost, my broker say I need 60 pips gap for AUDNZD trade ????

Oops, big mistake I just entered that at market, wow, big spread, wait and see what NZD does today I guess

Otherwise it would be 14 pending same a Day 1
Attached Image (click to enlarge)
Click to Enlarge Name: Day 002.png Size: 125 KB
It takes a lot for me to IGNORE you, but you can try.
  • #1,746
  • Apr 22, 2015 7:57pm Apr 22, 2015 7:57pm
Day 2 - update

Halfway to equity target, maybe I should grab that, then wait for Europe trades

This further confirms my belief that it is much better to trade the positions as a basket instead of trying to get each one to the profit target

If this continues, seems like it could make the 11% with only 3 trades open, that would be awesome

Attached Image (click to enlarge)
Click to Enlarge Name: Day 002a.png Size: 153 KB
It takes a lot for me to IGNORE you, but you can try.
  • #1,747
  • Apr 22, 2015 9:13pm Apr 22, 2015 9:13pm
Day 2 - update

Big move on the NZD pairs as you may noticed, these 3 trades were up over $9,000 at one point, I closed manually at $8,000 as it looks like market will take a break before Europe. We all know what happens when the price gets over extended as it just did.

There are still 11 pending trades but nothing close to opening; even if they don't, it has been a great day.
Attached Image (click to enlarge)
Click to Enlarge Name: Day 002b.png Size: 170 KB
It takes a lot for me to IGNORE you, but you can try.
  • #1,748
  • Apr 23, 2015 12:37am Apr 23, 2015 12:37am
Quoting Erebus
{quote} I don't understand how you did that; say I want a trade on EUR-GBP, risk 5%, Stop Loss 56 pips, what does your xls calculate for Lot Size??
hi erebus

1) i note my capital
2) i note how many % to risk totaly in the day

3) if i want 6% totaly risk then / how many pairs i have new color
so in each pair i wil risk 6%/11=0,54 %
4) in each pair i see the different SL and i put the lot , but always with the 0,54%
i prefer RR=1/1

Attached Image (click to enlarge)
Click to Enlarge Name: xl.png Size: 17 KB


the only thing to do is to write the amount and the risk
  • #1,749
  • Apr 23, 2015 1:15am Apr 23, 2015 1:15am
Quoting Erebus
Day 2 - update Halfway to equity target, maybe I should grab that, then wait for Europe trades This further confirms my belief that it is much better to trade the positions as a basket instead of trying to get each one to the profit target If this continues, seems like it could make the 11% with only 3 trades open, that would be awesome {image}
would you share your ea if it possible

thank you...
  • #1,750
  • Apr 23, 2015 2:01am Apr 23, 2015 2:01am
Quoting ven16
{quote} would you share your ea if it possible thank you...
Sure, why not, but it's not my EA - it is found right here on FF if you take care and do a SEARCH

Attached File(s)
File Type: pdf Equity Sentry manual.pdf   203 KB | 2,067 downloads
File Type: ex4 Equity Sentry v1.4c.ex4   46 KB | 454 downloads
It takes a lot for me to IGNORE you, but you can try.
  • #1,751
  • Apr 23, 2015 2:04am Apr 23, 2015 2:04am
Quoting dimdel
{quote} hi erebus 1) i note my capital 2) i note how many % to risk totaly in the day 3) if i want 6% totaly risk then / how many pairs i have new color so in each pair i wil risk 6%/11=0,54 % 4) in each pair i see the different SL and i put the lot , but always with the 0,54% i prefer RR=1/1 {image} the only thing to do is to write the amount and the risk

I didn't really follow that, and yo never answered my question either, but never mind

You do realize that every pair is a different value per pip?

Seems to me you are either using same stop loss for all or same lot size for all

Each to their own
It takes a lot for me to IGNORE you, but you can try.
  • #1,752
  • Apr 23, 2015 4:30am Apr 23, 2015 4:30am
Day 2 - Final

14 Signals

5 entry

3 win

2 loss

9 cancelled / not triggered

EURAUD + EURCAD enter at Europe but they faked direction and stopped out for 4% loss

Account Balance is $114,000 after 2 days, up 14 %

Good night
Attached Image (click to enlarge)
Click to Enlarge Name: Day 002c.png Size: 664 KB
It takes a lot for me to IGNORE you, but you can try.
  • #1,753
  • Apr 23, 2015 5:07am Apr 23, 2015 5:07am
Quoting Erebus
Day 2 - Final 14 Signals 5 entry 3 win 2 loss 9 cancelled / not triggered EURAUD + EURCAD enter at Europe but they faked direction and stopped out for 4% loss Account Balance is $114,000 after 2 days, up 14 % Good night {image}
Why do you only have 14 signals? And not all 28? What defines them as invalid signals?

3 wins

5 losses

1 active

all NZD manually cancelled

same lot sizes. ADR TP, 0.50 ADR SL.

Day 1 Test: +11% closed.
Attached Image (click to enlarge)
Click to Enlarge Name: 042315.png Size: 152 KB
  • #1,754
  • Apr 23, 2015 6:10am Apr 23, 2015 6:10am
Quoting yelena
{quote} Why do you only have 14 signals? And not all 28? What defines them as invalid signals? 3 wins 5 losses 1 active all NZD manually cancelled same lot sizes. ADR TP, 0.50 ADR SL. Day 1 Test: +11% closed. {image}
Well, first we have to know what signals you are trading also!

I am going by the first Robinho post on this method - Post 1571

http://www.forexfactory.com/showthre...89#post8190389

For now I am concentration on the method explained like this -

"Follow new color D1 candle diferente."

To me this means, when the daily candle has a different color, ergo reversed, take an entry in the direction of the change.

So, what is your entry?
Attached Image (click to enlarge)
Click to Enlarge Name: 23-04-2015 9-07-23 PM.png Size: 39 KB
It takes a lot for me to IGNORE you, but you can try.
  • #1,755
  • Apr 23, 2015 7:48am Apr 23, 2015 7:48am
Quoting Erebus
{quote} Well, first we have to know what signals you are trading also! I am going by the first Robinho post on this method - Post 1571 http://www.forexfactory.com/showthre...89#post8190389 For now I am concentration on the method explained like this - "Follow new color D1 candle diferente." To me this means, when the daily candle has a different color, ergo reversed, take an entry in the direction of the change. So, what is your entry? {image}
Very clear. Appreciate it!
  • #1,756
  • Apr 23, 2015 12:56pm Apr 23, 2015 12:56pm
Hi there

I've been silent in this forum for a while.
Just for fun I coded an EA which does exactly what rob says in post 1571 (IMO).
Some ugly copy / paste code. But it works. Not interely tested, no warranties to anybody as usual.

One EA for all 28 pairs.

UseCurrentBidPrice = true means to use the current candle insteat of the previous day as entry price. It has to be false according to robs method.

Question? Does the broker time matter (endtime of D1-candle)? It does, but I think over time it does not matter.

best regads

PBPTaker
Attached File(s)
File Type: ex4 PendingOrderEA-Rob.ex4   22 KB | 291 downloads
File Type: mq4 PendingOrderEA-Rob.mq4   14 KB | 414 downloads
  • #1,757
  • Apr 23, 2015 1:06pm Apr 23, 2015 1:06pm
Quoting PBPTaker
Hi there I've been silent in this forum for a while. Just for fun I coded an EA which does exactly what rob says in post 1571 (IMO). Some ugly copy / paste code. But it works. Not interely tested, no warranties to anybody as usual. One EA for all 28 pairs. UseCurrentBidPrice = true means to use the current candle insteat of the previous day as entry price. It has to be false according to robs method. Question? Does the broker time matter (endtime of D1-candle)? It does, but I think over time it does not matter. best regads PBPTaker {file} {file}...
Nice works, will check the EA. Is the ea will put pending order on specific time? Daily open?
Look for it and you will find it
  • #1,758
  • Apr 23, 2015 1:07pm Apr 23, 2015 1:07pm
Quoting PBPTaker
Hi there I've been silent in this forum for a while. Just for fun I coded an EA which does exactly what rob says in post 1571 (IMO). Some ugly copy / paste code. But it works. Not interely tested, no warranties to anybody as usual. One EA for all 28 pairs. UseCurrentBidPrice = true means to use the current candle insteat of the previous day as entry price. It has to be false according to robs method. Question? Does the broker time matter (endtime of D1-candle)? It does, but I think over time it does not matter. best regads PBPTaker {file} {file}...
thanks


we must put the ea in each 28 pairs or only in one
  • #1,759
  • Apr 23, 2015 1:17pm Apr 23, 2015 1:17pm
Quoting Juan007
{quote} thanks we must put the ea in each 28 pairs or only in one
Well, one EA for all 28 pairs meaning it trades all pairs. Irrelevant on which pair you attach it.
  • #1,760
  • Apr 23, 2015 1:19pm Apr 23, 2015 1:19pm
Quoting Juan007
{quote} thanks we must put the ea in each 28 pairs or only in one
Daily open and when you compile ... to be honest I did not check it overnight. But the new candle function is the same I'm using on all my EAs.
5 traders viewing now