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100 Pips daily target, easy to use

  • #561
  • Oct 23, 2016 3:07pm Oct 23, 2016 3:07pm
Quoting shimmering
{quote} which ARE THOSE 6 LOW SPREAD PAIRS?
Actually 7 pairs, "roughly non correlated"...although if I´m trading EURGBP, I wouldn´t open a GBPUSD trade, cause they are "kind of" negatively correlated...
BTW, I traded Gohstbikers Renko system for 2 days (real money)...5 winners one small looser!!

AUDUSD
EURAUD
EURGBP
EURUSD
GBPUSD
USDCAD
USDJPY
  • #562
  • Oct 23, 2016 3:22pm Oct 23, 2016 3:22pm
I managed to manually backtest the 100pip system for GBPCAD for the month of september 2016 considering the following (for a long entry, short entry is the opposite):

1. Green dot appeared on H1
2. Evo-slope changed to green on H1
3. Blue line crossed the yellow line above on H1
4. All 5 arrows turned bright green on M15
5. Fisher Yurik is green for the last H1 bar

The result was -1.5% for a 1000USD account and 0.04 lots each trade (50 pipis SL and 25 pips TP).
The orders were given on M15 timeframe.
The third trade was a mistake (closed it on BE), therefore the horizontal line in the graph.
Since it took me 2.5 hours, I plan to do another backtest next weekend for EURAUD also for september 2016.

Cheers all.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD-09.2016.jpg Size: 238 KB
  • #563
  • Oct 23, 2016 3:53pm Oct 23, 2016 3:53pm
Quoting muon
I managed to manually backtest the 100pip system for GBPCAD for the month of september 2016 considering the following (for a long entry, short entry is the opposite): 1. Green dot appeared on H1 2. Evo-slope changed to green on H1 3. Blue line crossed the yellow line above on H1 4. All 5 arrows turned bright green on M15 5. Fisher Yurik is green for the last H1 bar The result was -1.5% for a 1000USD account and 0.04 lots each trade (50 pipis SL and 25 pips TP). The orders were given on M15 timeframe. The third trade was a mistake (closed it on BE),...
UNDERSTAND THE PROBLEM:
You are taking a 50 pipis SL and 25 pips TP, as per Gohstbiker general recomendations.
She mentioned she closes when the opposite Donchian is reached, that could be "only" 15 pips of profit, before the trade turns around negative, and by the time it reaches the 50 pip Stop, you would probably get an opposite signal.

I would close or move to BE: if reaching a very obvious SR area, news are inminent, and if touched the opposite Donchian line.

In my opinion, the entry signal is mechanical, the trade managment is an art...to be perfected and improved constantly...

Back in the old days, the "turtle system" creators , (a profitable system back then), knew that handed to unexperienced hands, it would loose money...and it did.

GB mentioned it took her 13 years of study...it took me 15 to BE, and another 2 to become profitable...with my system...but this is for me simple and valuable...and I will definitely test it further, (with real money)...
  • #564
  • Oct 23, 2016 3:54pm Oct 23, 2016 3:54pm
- stay out from GBP pairs (have I in my System 100Pips System GBP pairs ?)

- can you see CAD pairs ? I NOT !

- what will you me say with back tests ?
  • #565
  • Oct 23, 2016 4:25pm Oct 23, 2016 4:25pm
ghostbiker do i Understand correct?
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY.png Size: 74 KB
  • #566
  • Oct 23, 2016 4:27pm Oct 23, 2016 4:27pm
Quoting ghostbiker
- stay out from GBP pairs (have I in my System 100Pips System GBP pairs ?) - can you see CAD pairs ? I NOT ! - what will you me say with back tests ?
Before I start using a system I always backtest first. It's not my intention to invalidate your system. I think in this case is the opposite (stay out of GBP pairs). I'm just trying to have a broader picture of the system.
Although one month is not relevant for a long term becktest, I think the last month is the most important in pointing out the current market conditions. Given the time it takes me to test this system and the amount of time I have for backtesting I think "the last month" is the least I could do, since I think your system has a lot of potential.


@cuchuflito: I prefer to use in a backtest a mechanical approach so that the results are not influenced by subjective decisions, so that the test is more analiticaly relevant. I will try to include in the next one the rules you mentioned in a mechanical way.

PS. In my tests I don't take trades during 0.00÷8.30 hours GMT+2 (DST ON).
  • #567
  • Oct 23, 2016 5:15pm Oct 23, 2016 5:15pm
manually trading is others us a backtest ! This is not a EA !
  • #568
  • Oct 23, 2016 6:31pm Oct 23, 2016 6:31pm
Quoting alecsa72
{quote}{quote} ok, I know why that is - I did not plan on using DAX or Gold - I don't usually dabble in things I do not really understand. This 1Click EA was meant for currencies only But it's easy to fix it - I need to adjust the substr() function to work slightly differently for Gold and DAX - these are just text labels nothing more I will add them later, if I have time

Thankyou Alecsa
  • #569
  • Oct 23, 2016 9:38pm Oct 23, 2016 9:38pm
Can someone post instructions for putting template and indies on chart? The template is an .rar file. All my template files are .tpl. Why is this one different?
None of the downloads are zipped. Thank you.
  • #570
  • Oct 23, 2016 11:26pm Oct 23, 2016 11:26pm
Quoting muon
I managed to manually backtest the 100pip system for GBPCAD for the month of september 2016 considering the following
GBP pairs is not a good way to test right now, there was a flash crash in GBP not too long ago and it is very volatile.

Pick something else to test with, something more benign, like USDCAD or EURUSD
  • #571
  • Oct 23, 2016 11:43pm Oct 23, 2016 11:43pm
Quoting muon
{quote} Before I start using a system I always backtest first. It's not my intention to invalidate your system. I think in this case is the opposite (stay out of GBP pairs). I'm just trying to have a broader picture of the system. Although one month is not relevant for a long term becktest, I think the last month is the most important in pointing out the current market conditions. Given the time it takes me to test this system and the amount of time I have for backtesting I think "the last month" is the least I could do, since I think your system...

OK Muon, your homework is very valuable:
Need to take some things into consideration in your backtest like:
-News.
-Exit strategies
a. Slope change of colour.
b.MA lines crossing against the trade.
c. Jurik changing colour...etc.
Basically, the same parameters that got you in the trade in the first place, turning aginst the trade.
Those make me, either close, even with a small loss, or at least adjut my stop, maybe to BE.
  • #572
  • Edited Oct 24, 2016 12:15am Oct 23, 2016 11:46pm | Edited Oct 24, 2016 12:15am
Quote
Hi alecsa, good work however for likes of DJ30 or GOLD as on my chartting i get GOL/D or DJ3/0
not knocking you at all just wondering is there any thing that can be done easily so that one has room to put there pairs how they are labled as some may also have ecn and then a pair maybe labled USD/JPYecn or something of that nature

@forexdancer

Check attached version 3 - I think I implemented various non-currency labels correctly now

Edited : I deleted the file attached here, please re-download the one in the next few posts. the attached file here had a major bug
  • #573
  • Oct 23, 2016 11:55pm Oct 23, 2016 11:55pm
One thing worth mentioning in any forex system is
STOP HUNTING!!

70% of the volume traded runs under 5 big banks...(you can google the exact number).
And they MANIPULATE the market .They have the power to spike a pair to run stops.
These are called "liquidity pools", where most retailers have their stops (which they can see), which get hit to fuel the next move.

Just open a naked chart, spot the typical places where anybody will place a stop, scroll back and you will find that almost every big move on any time frame starts with a stop run.

So one can use it as a confirmation: ie. if you want to go long on a potential starting swing, if BEFORE your entry there was an obvious stop run , typically by a few pips, your chances of riding the wave with the big boys improve dramatically.

Swings start with stop runs, then during the extent of the move, the big banks go to smaller time frames to shake up as many retailer trailing stops as possible...fueling the move further.

It is a basic game of money transfer from retailer pockets to BIB BOY´s POCKETS.

Hope this is usefull..
  • #574
  • Oct 24, 2016 12:00am Oct 24, 2016 12:00am
On blabers:

GB is investing time and effort to share her ideas for free.

Best is to ignore blabers, just a waste of precious time.
  • #575
  • Oct 24, 2016 12:06am Oct 24, 2016 12:06am
Everyone - please download new version 3 of 1Click 12 Pair EA - I just noticed and fixed a massive mistake in V02

PS: ECN broker and trailing stop options show on screen but are NOT IMPLEMENTED YET
Attached File(s)
File Type: mq4 EA_1Click_12Pairs_OnChart_V03.mq4   26 KB | 387 downloads
  • #576
  • Oct 24, 2016 12:07am Oct 24, 2016 12:07am
Quoting cuchuflito
One thing worth mentioning in any forex system is STOP HUNTING!! 70% of the volume traded runs under 5 big banks...(you can google the exact number). And they MANIPULATE the market .They have the power to spike a pair to run stops. These are called "liquidity pools", where most retailers have their stops (which they can see), which get hit to fuel the next move. Just open a naked chart, spot the typical places where anybody will place a stop, scroll back and you will find that almost every big move on any time frame...

Hi Cuchuflito,

If my memory serves me right, you have mentioned this point in some other thread. You said something along the lines of watching what price does around S/R on weekly, day, etc... I tried looking, but was confused due to the discretionary part involved in it. Example: Sometimes key S/R levels were matching with double tops. So was it a Stop Loss hunt or did the price reverse due to the double top pattern.

1.It would be really helpful if you could please list the specific steps on how you identify stop loss hunts.

2.Any accompanying charts with examples would be a great bonus.

Much appreciated for bringing this key topic...

Thanks
  • #577
  • Oct 24, 2016 12:13am Oct 24, 2016 12:13am
Quoting muon
I managed to manually backtest the 100pip system for GBPCAD for the month of september 2016 considering the following (for a long entry, short entry is the opposite): 1. Green dot appeared on H1 2. Evo-slope changed to green on H1 3. Blue line crossed the yellow line above on H1 4. All 5 arrows turned bright green on M15 5. Fisher Yurik is green for the last H1 bar The result was -1.5% for a 1000USD account and 0.04 lots each trade (50 pipis SL and 25 pips TP). The orders were given on M15 timeframe. The third trade was a mistake (closed it on BE),...
Hi Muon,

Thanks for the effort, but one thing though:

"The orders were given on M15 timeframe."

We must trade off the 1HR time frame. M15 is only for confirmation.

Thanks
  • #578
  • Oct 24, 2016 12:14am Oct 24, 2016 12:14am
Good Work
EURAUD
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  • #579
  • Oct 24, 2016 1:30am Oct 24, 2016 1:30am
Is that correct?

Attached Image (click to enlarge)
Click to Enlarge Name: is that correct eurchf.png Size: 71 KB
  • #580
  • Oct 24, 2016 1:36am Oct 24, 2016 1:36am
Quoting aaven
{quote} Hi Muon, Thanks for the effort, but one thing though: "The orders were given on M15 timeframe." We must trade off the 1HR time frame. M15 is only for confirmation. Thanks
If you look again at my post you will see that every entry signal comes from H1 timeframe except the arrows which are on M15.

I entered on M15 for better accuracy and because the last signal comes on M15, as I would do in real time, but the trade is based on H1.


@cuchuflito: I will take into considerations your recommendations the next time, but as I said earlier the rules have to be precise.
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