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Price Action Trading with Indicators! The Freebie System

  • #8,901
  • Feb 22, 2017 12:50pm Feb 22, 2017 12:50pm
Quoting Trav707
{quote} Xmess, If you were to add a news filter I personally would use it for only high impact news and would suspend trading 2 hours before the event and up to 1 hour after. Think this would help a lot especially with other currency pairs. After running the EA through the night on the same 4 pairs I lost 6% and am now at a total gain of 3%. There were some larger market spikes that look like they were caused by news events. Any thoughts or recommendations are welcome.
hi Trav: this is what I am doing. Each week I am posting the equity curve of the activity. With a couple of weeks and perhaps months of this data we can then figure out how consistent the EA is in creating profitable opportunities. so for example in your case you saw 9% yesterday. say that in the next couple of weeks you consistently see 9-10% per week and you only see a -5% during each week. so then your strategy is to target 7% per week with a risk of 3%. this is an example, each trader has there preferences. but do u see where I am going?

As for the News events I do think that is important. Again using your example if you know that you can get 8% per week then I would have the EA skip the days that News events happen. True you may not get 8% that week cause opportunities were skipped but you do have the probability of avoiding losing all your profit or worse settling for a considerable loss.

I tell you I have done this with other EAs before and it works. you become consistently profitable. so be patient and don't worry about why or what happened just gather the data and then lets see if we can create a high probability scenario where each week we get +%. each week forever LOL
Our AWESOME IMAGINATION is the true holy grail!
  • #8,902
  • Feb 22, 2017 7:34pm Feb 22, 2017 7:34pm
Hi Jess, I haven't been posting much because of too many options that had to be set. So after one of your posters talked about just loading and forgetting and that it worked, I tried it two days ago and I am very happy with it. Only change I have made is the breakeven was set at 20%. I had 50 and that was too far. So here is a current screen shot of activity as of today. Also I am thinking that multi pairs is preferable.
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  • #8,903
  • Feb 23, 2017 11:31am Feb 23, 2017 11:31am
Looks as if there is a problem with some pairs. I am eliminating using stochs . It seems that stochs are determining which direction the trade is taken. Am I right?
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  • #8,904
  • Feb 23, 2017 3:43pm Feb 23, 2017 3:43pm
Quoting xmess7
UPDATE to latest Freebie: Folks I am slowly developing the new update. I already have a "raw" indicator. Check out the image and see the "winners" . I took another look at Dredding's first posts and decided that using the ZigZag on the upper TF would be one of the better ways to tell direction. Yes the ZigZag repaints but at the higher TF we got a chance to get some pips BEFORE it repaints. Anyhow see attached image. This is the regular Freebie using the ZigZag as the upper Trend detector. Oh I also plan to incorporate the 3C along with...
As of February 22,2017 I have been trading two currencies, EurUsd and UsdChf. I watch the EurUsd for trend direction, so if the MTF Zigzag is on the bottom then the EA places .04 lot buy trades on EurUsd and on the UsdChf I set it to Buy Only .02 lots. I hold the trades that are in profit until the MTF Zigzag goes from being on the bottom of EurUsd to being on the top of EurUsd then I will start Selling .04 lots EurUsd and selling .02 UsdChf lots. Hopefully this stratergy will give me a profitable trade while the other one is losing then once the MTF Zigzag stops repainting the .04 lot EurUsd trades should recoup the trades you lost on. The whole idea is the EurUsd should erase your losing trades but you will lose for awhile until the daily MTF Zigzag stops repainting. Starting Balance:$190.91 so right now im losing. I will keep you posted.
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  • #8,905
  • Feb 23, 2017 5:29pm Feb 23, 2017 5:29pm
Quoting Checkz
{quote} As of February 22,2017 I have been trading two currencies, EurUsd and UsdChf. I watch the EurUsd for trend direction, so if the MTF Zigzag is on the bottom then the EA places .04 lot buy trades on EurUsd and on the UsdChf I set it to Buy Only .02 lots. I hold the trades that are in profit until the MTF Zigzag goes from being on the bottom of EurUsd to being on the top of EurUsd then I will start Selling .04 lots EurUsd and selling .02 UsdChf lots. Hopefully this stratergy will give me a profitable trade while the other one is losing then...
Checkz:
question are the percentages that you see accurate for the week/day etc? I found a way to include the commission and swap as a pip component. I think I will add this in a new update.

I'll also be reporting at the end of week the equity curve and compare that to last weeks.
Our AWESOME IMAGINATION is the true holy grail!
  • #8,906
  • Feb 23, 2017 7:19pm Feb 23, 2017 7:19pm
The last two trades taken were buys but they came after a semifor dot above and the stoch was in oversold territory. This should have been a sell and not a buy.
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  • #8,907
  • Feb 23, 2017 7:29pm Feb 23, 2017 7:29pm
Quoting keysharp
The last two trades taken were buys but they came after a semifor dot above and the stoch was in oversold territory. This should have been a sell and not a buy. {image}
John:
Those trades are correct. all conditions were met.
1. Green semafor dot
2. Stocks UP
3. Trend according to ZigZag is up
4. Failed pivot I assume since you don't have the pivot lines up.

Where I think that this confuses is that I am using 5 or less candles from trade to last semafor instead of 3 or less.
This was done cause someone had said that opportunities were being missed. Looks like it can go either way.
Now, I don't know why but I have descent runs in the last two weeks with 2 brokers. Yes I have seen the accounts go down to negative balance but it's only as low as -3% then they take off. I will show the equity curve tomorrow so you can check it out.

Next week I will return the condition down to 3 candles instead of 5. For those that wanted 5 just keep your copy.
Our AWESOME IMAGINATION is the true holy grail!
  • #8,908
  • Feb 23, 2017 7:30pm Feb 23, 2017 7:30pm
Quoting keysharp
The last two trades taken were buys but they came after a semifor dot above and the stoch was in oversold territory. This should have been a sell and not a buy. {image}
John Now I see what you are saying.
If the signal candle has an opposite 3semafor ==> no trade.
Is that correct? I will add this to the next version
Our AWESOME IMAGINATION is the true holy grail!
  • #8,909
  • Feb 24, 2017 5:11pm Feb 24, 2017 5:11pm
Folks:
Broker is ForexWare. NO INTERVENTION. This week was alot better than last week:
http://www.forexfactory.com/showthread.php?p=9570918#post9570918

This is a good sign. If this is the common pattern then we know were we can close for profit for the week
18% for the week.
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Our AWESOME IMAGINATION is the true holy grail!
  • #8,910
  • Feb 24, 2017 5:21pm Feb 24, 2017 5:21pm
Folks:
Broker is FXChoice. NO INTERVENTION. Oh looks terrible or does it??

Notice that it was in profit for a little while and then it fell to about -3% then it climbed but nothing ... and then it tanked.
Hmmm You see what I see?? You see the escape sign?? Lets see what it does next week. More data will help to clarify where we could escape.
Although down -11% is not bad. not that bad... worse is -100% LOL.
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Our AWESOME IMAGINATION is the true holy grail!
  • #8,911
  • Feb 25, 2017 8:59pm Feb 25, 2017 8:59pm
Update version 54

1. Fixed Set BE withAfterBE_KeepTP=No. For whatever reason the TP was not being removed. So what I did is just have it set to 1000 pips TP .

2. Made a change to Set_BE=OnOppositeSemaFor. I saw this sometimes work/other times not work. So, for those use it, let me know if it works.

3. Placed back the number of candles after a SemaFor from 5 to 3. I noticed that alot of losses could of been avoided had this been set to the original 3 as per rules in pg1.

4. Added a New cancel trade condition. If a new trade is found BUT the previous candle shows an OPPOSITE 3sema dot the trade is canceled. Lets see how this affects trading this coming week. If it doesn't work out I will remove it.

Thnx
Jess
Attached File(s)
File Type: ex4 xm7_Freebie_EA_v54.ex4   143 KB | 361 downloads
Our AWESOME IMAGINATION is the true holy grail!
  • #8,912
  • Feb 26, 2017 7:28am Feb 26, 2017 7:28am
Thanks Jess. Looking forward to this one.
  • #8,913
  • Mar 3, 2017 2:01pm Mar 3, 2017 2:01pm
From Feb. 27 - March 3. This was using the broker FXCM and the pairs: Eur/usd, usd/jpy,gbp/usd, aud/usd. Thinking about adding usd/cad next week. I think this system may have a hard time during BIG news weeks such as last week, when FOMC and ECB are released. I was up around 12% last week until that news hit and finished the week down -10%. Next time around I think i'll turn it off during those days to see how it does.
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  • #8,914
  • Mar 3, 2017 2:29pm Mar 3, 2017 2:29pm
Quoting Trav707
From Feb. 27 - March 3. This was using the broker FXCM and the pairs: Eur/usd, usd/jpy,gbp/usd, aud/usd. Thinking about adding usd/cad next week. I think this system may have a hard time during BIG news weeks such as last week, when FOMC and ECB are released. I was up around 12% last week until that news hit and finished the week down -10%. Next time around I think i'll turn it off during those days to see how it does. {image}
Trav707:
Wow you got good results. WHAT ARE U DOING LETTING THE EA RUN AFTER IT GAINS 10% FOR THE WEEK!! ?? LOL
I always target 10%/week and I STOP there. Period. With 10% a week do u realize u can just about take 10K and turn it into a million in about 250-300 working days?
It's a rough estimate, I'll do the math later LOL.

I'll show my report for the week soon.

Oh! you said u used FXCM is that for US clients??
Our AWESOME IMAGINATION is the true holy grail!
  • #8,915
  • Mar 3, 2017 2:32pm Mar 3, 2017 2:32pm
Quoting Trav707
From Feb. 27 - March 3. This was using the broker FXCM and the pairs: Eur/usd, usd/jpy,gbp/usd, aud/usd. Thinking about adding usd/cad next week. I think this system may have a hard time during BIG news weeks such as last week, when FOMC and ECB are released. I was up around 12% last week until that news hit and finished the week down -10%. Next time around I think i'll turn it off during those days to see how it does. {image}
One more thing. I am thinking of adding a NEWS feature where u can tell it NOT to trade during those days that news hits or you can tell the EA to trade X hours before or Xhours after the news. This would help with those situations like what you went thru. think about it what would you prefer? Do you prefer to end up the week -10% or at break even, KNOWING that the next week you will get say +5% at least.... So u see it is not a bad thing to take the BE or small loss...

Hey what version of EA?? v54 right?? Just checking, and I'll tell u what later..
Our AWESOME IMAGINATION is the true holy grail!
  • #8,916
  • Mar 3, 2017 2:45pm Mar 3, 2017 2:45pm
Brokers, FXChoice and Forexware. Pairs: EURUSD,GBPUSD,GBPJPY,GBPAUD

Foreware is going to finish this week down -3%
FxChoice is going to finish week down -5%
Please NOTE the graphs show the close of yesterday's trades, todays trades caused to lifted the balances and that is what I am seeing on my charts displays for %'s

All in it was not a bad week. I only ended up with small loses. Let see what next week brings. Guys if we see this kind of pattern where the EA with the many trades protect the account then this in my opinion is great. It gives us a chance to make big pips like Trav did in the next couple of weeks.

Below are the images of the equity curves. The black line represents where the balance was at the beginning of the week.
Once I get some more inputs I will tell you what your EAs have different than what I have on mine. That little difference I think gives u guys the edge...
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: FXchoice.gif Size: 8 KB
Our AWESOME IMAGINATION is the true holy grail!
  • #8,917
  • Mar 3, 2017 2:57pm Mar 3, 2017 2:57pm
Quoting xmess7
{quote} Trav707: Wow you got good results. WHAT ARE U DOING LETTING THE EA RUN AFTER IT GAINS 10% FOR THE WEEK!! ?? LOL I always target 10%/week and I STOP there. Period. With 10% a week do u realize u can just about take 10K and turn it into a million in about 250-300 working days? It's a rough estimate, I'll do the math later LOL. I'll show my report for the week soon. Oh! you said u used FXCM is that for US clients??
xmess7:
Yes FXCM is a US broker, I'm also testing on Tallinex but it hasn't run a full week yet. I did update it this week to v54 and I'm still using it as a drag and drop EA. I didn't change any of the inputs values. Literally just drag it from the navigator onto my charts and let it go. What is your BE set at?
  • #8,918
  • Mar 3, 2017 3:06pm Mar 3, 2017 3:06pm
Quoting Trav707
{quote} xmess7: Yes FXCM is a US broker, I'm also testing on Tallinex but it hasn't run a full week yet. I did update it this week to v54 and I'm still using it as a drag and drop EA. I didn't change any of the inputs values. Literally just drag it from the navigator onto my charts and let it go. What is your BE set at?
No BE. I took it off. I was using the BE on Opposite 3sema dot but decided just let the trades do what they need to do.
Our AWESOME IMAGINATION is the true holy grail!
  • #8,919
  • Mar 6, 2017 10:44am Mar 6, 2017 10:44am
I was hoping that Trump would take care of this problem with foreign brokers, but it has not happened yet. Tallinex is moving my inactive account to Capital City Markets at the end of March 31st. So for us US traders we apparently have aother of the few viable brokers.
  • #8,920
  • Mar 7, 2017 7:51am Mar 7, 2017 7:51am
Good start for the week. Going 24/5. Using default settings and 25 stop loss. But having to monitor the trades and when the trade reaches a semi-dot and the zig-zag is engaged then I close the trade. Almost all trades are being closed manually.
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