what can we do with 90% winrate?

In order to disable the filter, set Min Bar Range = 0 and Max Bar Range = 1000000 in the input settings of the EA. It will then trade on each and every bar.

First trade taken last night on the GC, still open but it looks like its heading for the SL. Was this a valid setup guys?

D1 and H1 images included.

Moonie.

That looks valid to me, tp should be 0.8 in settings

noted ,thank you

Cool, TP hit, 44 pips.

Thanks for Retracer Extender v2

I tried to optimize it and this is the results
It performed better with S/L @ .6, T/P @ 1.2, ATR @ 18, candleminATR @ .8 and candlemax ATR @ 2.4
Also to be noted, long periods (months) and long periods of losing. Also, big drawdowns.

Here is some ideas from looking at a chart, I think I have found the reason why some trades don't work,
after measuring with the tool looking for reasons, it appears to just be support and resistance,
we should be able to avoid most of them with a filter,

the candles with the boxes around I call setup candle, those are the candle we draw the fib tool on to trade the next.
I have marked the failed candles with numbers and tumbs up and downs, the wins are white thumbs up's and the losers red thumbs downs.

for example, if a trade dont work you see the red thumbs down, you also se a number above, example 1, find the other number 1 and you se the reason why it failed.
it appears that resistance and support is why some trades fails, and spinning tops and small dojis seem to be the key.

I think it is no problem to trade the spinning tops them selves if they are large enough for some decent pips,
but if we have a spinning top interfering with our path to the target, then we should maybe avoid,
the resistance and support of a spinning top is at the end of it's wicks, and that is how I suggest the sr lines to be,
we can of course draw them by hand until we have a working indicator.
these lines should be extended all the way to the right, don't know yet how far we have to go back, that must be tested.

the chart with many horisontal lines on, are my idea of an indicator, this will clearly mark out this areas on the chart so we can avoid them.
so if there are a line between the close and our target, we dont take that trade, hopefully this can bring up the win rate and profitability a lot.

are you trading live?

No, Demo. Going to try it live next week.

I would not be trading the Euro right now, looks like the momentum is too strong

Here is something I have been experimenting with, it have been showing good results.
this is what you can do when you enter a trade and you get no wick at all, like pic1,
then on the next candle you simply move down the tool to the next candle close but you leave the other end untouched like shown in the pictures.
the probability there will be a wick on the next candle is higher,
note that this should only be done if the second candle is in the same direction as the first one,
the good thing with this is that the target will become larger and you will get a bit more back from the first loss

Maybe the solution here is to use these fib targets as an additional indicator in a manual trading method.
Maybe drop down one TF and trade towards the fib target at at a pull back???

Is there anyone who can run a backtest on GC where the SL is no larger that 100 pips?

Doing a visual check, it seems to weed out many of the fails.

Cheers

Moonie.

Hi! yes sure you could do that, if you mark the high low and close with horisontal lines, but my guess is that it would be very frustrating, you would be looking at higher highs, lower lows etc , or maybe use some filter by looking at the price action, the thing is, price fluctuate a lot up and down and many times it will almost reach your sl a lot of pips from your entry, only to reverse up and hit the target, if you think you have the mental stamina for that, then sure, personally I think I couldn't handle that, I would be all wet in sweat and probably close out the trade pre-mature

I think what we should be focusing on is to minimise the losses, by doing that, the profitability would go way up, because we would gain a lot of pips from the large stop outs. I suggest using support and resistance and avoid trades that intersect with those levels. I really think we should not mess with the tp, it seems to be key for the great win rate, maybe the sl could be a tiny bit lower. why some trades don't work is because on a buy trade, if the resistance is to high, the buyers will not have strength enough to create the wick, or large enough wick. I am thinking a momentum indicator could be used, it will show the greatest momentum, if there is more sellers the momentum will point down, but momentum can also diverge from price, so I'm not sure if that will be good or not, however if we can minimise only a few losses by this, it can be worth it. also as I wrote earlier is to mark up the spinning tops with lines. in a trading range there are usually many spinning tops, so in that case, maybe the weekly chart will prove to be better because there are more pips between the spinning tops, in a trending market there will be fewer and we can use the daily. maybe we can't trade everyday, but that's ok, the key is to maintain the good win ratio and consistency. many thoughts here, but we can only make this really good by testing. I will begin Monday trading this on Demo, I will of course log each trade and post them here. this can take some time, but hang in there​

https://en.wikipedia.org/wiki/List_of_cognitive_biases

The key for the high winrate is the SL to TP ratio.

I cannot replicate the 70% results, using Retracement Extender 02, default values
EURUSD Daily 10/2010 - 9/2015

The EA fails to even generate profit.

win rate has nothing to do with profitability. I've seen trade explorers here with 90% win rate and still losing money simply because their average loss is much larger than their average profits which tends to be small. Having said that u can still make money with win rate 20%

lose money...thats what

4 days of testing
5 pairs (E/U, G/U, U/J, U/C, A/U)
Lot size 0.10
Rules from 1st post

Black fields are trades from another strat.

91 $ profit