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Simplicity is the Ultimate Sophistication

  • #81
  • Mar 13, 2017 1:52pm Mar 13, 2017 1:52pm
Quoting zentrader8
{quote} please read the rules. not gonna help you, if you aint read the rules. Thanks
Excuse. Through a translator I must deduce as Sherlock Holmes.
Please excuse the bad English via Google Translate.
  • #82
  • Mar 13, 2017 6:26pm Mar 13, 2017 6:26pm
Quoting zentrader8
{quote} yeah, the first trade hit the sl, open the second trade and hit the TP.
Alright, so you just open buy stop / sell stop at whatever 00 level gets hit after the 09.00 candle opens..

Quoting zentrader8
BUY STOP 1.0710 TP 1.0720 SL 1.0705 Lets see {image}

I was confused because in rule number 3 you seem to indicate the 08.00 candle high and low had some significance. The next 00 level above the 08.00 candle was 1.072. If you had your buy stop at that level, the order would never had been triggered.

Quoting zentrader8
3. at 9.00 opening candle see the market whether its going down or going up. If its going down, put the sell stop the first 00 level under, and if it going up, put the buy stop at the first 00 level above the 8.00 candle.
  • #83
  • Mar 13, 2017 9:09pm Mar 13, 2017 9:09pm
Quoting OldeStoney
{quote} Alright, so you just open buy stop / sell stop at whatever 00 level gets hit after the 09.00 candle opens.. Quoting zentrader8 BUY STOP 1.0710 TP 1.0720 SL 1.0705 Lets see {image} I was confused because in rule number 3 you seem to indicate the 08.00 candle high and low had some significance. The next 00 level above the 08.00 candle was 1.072. If you had your buy stop at that level, the order would never had been triggered. {quote}
You have to check your broker time. I believe zentrader was referring to the close of 0800 candle as reference for IC markets, might be different from other brokers. My timezone is +8 GMT, so is at 2pm for +8 GMT.
  • #84
  • Mar 14, 2017 1:31am Mar 14, 2017 1:31am
I check some last Trading days start 19 Jan 2017, but careful it will be different by other Broker, I decide at GKFX MT4 and trade at Dukascopy because of the small Spread and this is important, same at the 23 Jan 2017, the price come for 0.7 pips near the SL but my Broker had only 0.2-0.5 pips spread. may you take some broker with the small spread and commission so its better.

I check 20 trading days, 19 Jan - 26 Jan and 01 Feb - 20 Feb 2017 between Jan and Feb some 1 minute data was missing, so this 20 days

the result, trade first 1:1.5R and second if need 3:4.5R, was:

10 days normal winner +1R
09 days second Trade winner +1.5R
01 day loss -6R
all together +17.5 R

we just trade probabilities and they look not bad!

Thank you zentrader8 for your method
  • #85
  • Mar 14, 2017 1:56am Mar 14, 2017 1:56am
Quoting 4x4free
I check some last Trading days start 19 Jan 2017, but careful it will be different by other Broker, I decide at GKFX MT4 and trade at Dukascopy because of the small Spread and this is important, same at the 23 Jan 2017, the price come for 0.7 pips near the SL but my Broker had only 0.2-0.5 pips spread. may you take some broker with the small spread and commission so its better. I check 20 trading days, 19 Jan - 26 Jan and 01 Feb - 20 Feb 2017 between Jan and Feb some 1 minute data was missing, so this 20 days the result, trade first 1:1.5R and second...
Yeah, glad if the method can help you.Hope this method will bring some green pips to all of us.
See the hitrate quite high right?
We dont know where the market move, we just trade the probability.
If you can ,please also did backtest also in 2016 or even 2015,
  • #86
  • Mar 14, 2017 4:48am Mar 14, 2017 4:48am
Quoting stevox
{quote} You have to check your broker time. I believe zentrader was referring to the close of 0800 candle as reference for IC markets, might be different from other brokers. My timezone is +8 GMT, so is at 2pm for +8 GMT.
yeah, I was looking at the wrong candle. thanks.
  • #87
  • Mar 14, 2017 8:22am Mar 14, 2017 8:22am
Today trade
first trade:
buy stop 1.0660
tp; 1.0670
sl : 1.0645

SL hit

Second trade open:
sell stop 1.0640
TP: 1.0630
SL: 1.0655

TP hit
End the day with green pips
  • #88
  • Mar 14, 2017 8:31am Mar 14, 2017 8:31am
really cool if this works in the long run!
Everyday better.
  • #89
  • Mar 14, 2017 9:23am Mar 14, 2017 9:23am
Quoting arlucad
really cool if this works in the long run!
yeah, it is simple method
  • #90
  • Mar 14, 2017 9:28am Mar 14, 2017 9:28am
i get a lower or the same spread about 0.2-0.4 on eurjpy so i will try this pair aswell on demo lets see how it goes in the long run
Everyday better.
  • #91
  • Mar 14, 2017 10:06am Mar 14, 2017 10:06am
Quoting arlucad
i get a lower or the same spread about 0.2-0.4 on eurjpy so i will try this pair aswell on demo lets see how it goes in the long run
never tried to trade eurjpy with this method before, i suggest you do a little backtest first and if it looks good you can do a forward test, and lets us see the result
  • #92
  • Mar 14, 2017 10:11am Mar 14, 2017 10:11am
yes i will do this tommorrow morning! a year backtest should be enough for the beginning, isnt it?
Everyday better.
  • #93
  • Mar 14, 2017 10:16am Mar 14, 2017 10:16am
Quoting arlucad
yes i will do this tommorrow morning! a year backtest should be enough for the beginning, isnt it?
yes , i think its enough for the beginning,
after you get the data, please give me the update, im curious about the result.
  • #94
  • Mar 14, 2017 10:32am Mar 14, 2017 10:32am
i will and im too i will test with 1 lot each trade your money management 0.3 spread and a commision of 6 Dollar. So we get a bit real data
Everyday better.
  • #95
  • Mar 14, 2017 11:05am Mar 14, 2017 11:05am
Quoting zentrader8
Today trade first trade: buy stop 1.0660 tp; 1.0670 sl : 1.0645 SL hit Second trade open: sell stop 1.0640 TP: 1.0630 SL: 1.0655 TP hit End the day with green pips
My feed signal H1 candle high was already above 1.0660 so my next level was 1.0670 which didn't activate.

The lower bound was 1.0630 as the H1 low was 1 pip below 1.0640 so I went to next level down. Activated at 1.0630 then stop hit at 1.0645.

If the H1 signal candle touches the 00 level would you drop to the next one down or trade that 00 level?

Thx
Trade less and become more profitable!
  • #96
  • Mar 14, 2017 11:42am Mar 14, 2017 11:42am
Quoting zentrader8
Today trade first trade: buy stop 1.0660 tp; 1.0670 sl : 1.0645 SL hit Second trade open: sell stop 1.0640 TP: 1.0630 SL: 1.0655 TP hit End the day with green pips
Hi Zen, this neat little indy should make life a bit easier (thanks to Gumrai). Just input the desired hourly candle and it will auto draw the high and low. Should make back-testing easier too.

I am a little confused about your trade today. You said your first trade hit SL, but I dont see how your buy stop was triggered because the hourly candle before london open never crossed that high, or even came close to it. It did trigger your sell stop which went to TP.

Attached Image (click to enlarge)
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Attached File(s)
File Type: mq4 FirstHourHiLo v1.1.mq4   4 KB | 787 downloads
File Type: ex4 FirstHourHiLo v1.1.ex4   7 KB | 728 downloads
In other news: A ranger was trapped between a bull and a bear
  • #97
  • Mar 14, 2017 11:50am Mar 14, 2017 11:50am
Quoting digiff
{quote} Hi Zen, this neat little indy should make life a bit easier (thanks to Gumrai). Just input the desired hourly candle and it will auto draw the high and low. Should make back-testing easier too. I am a little confused about your trade today. You said your first trade hit SL, but I dont see how your buy stop was triggered because the hourly candle before london open never crossed that high, or even came close to it. It did trigger your sell stop which went to TP. {image} {file} {file}
I am confused too, looks like Zentrader is not using the candle two hours before London open, but 3 hours before London open to mark the high/low.
  • #98
  • Mar 14, 2017 12:06pm Mar 14, 2017 12:06pm
Quoting Forex Lion
{quote} I am confused too, looks like Zentrader is not using the candle two hours before London open, but 3 hours before London open to mark the high/low.
Ok, I looked at charts again and I think Zen might have had a little mix up because of the Daylight saving time changes. His buy stop level matches with the candle high of the previous candle (which would be incorrect according to his rule) but his sell stop matches with the low of candle after that one (which I assume should be the correct one).
In other news: A ranger was trapped between a bull and a bear
  • #99
  • Mar 14, 2017 12:11pm Mar 14, 2017 12:11pm
Quoting digiff
{quote} Ok, I looked at charts again and I think Zen might have had a little mix up because of the Daylight saving time changes. His buy stop level matches with the candle high of the previous candle (which would be incorrect according to his rule) but his sell stop matches with the low of candle after that one (which I assume should be the correct one).
yes, that is my thinking, too
  • #100
  • Mar 14, 2017 6:11pm Mar 14, 2017 6:11pm
Quoting zentrader8
Today trade first trade: buy stop 1.0660 tp; 1.0670 sl : 1.0645 SL hit Second trade open: sell stop 1.0640 TP: 1.0630 SL: 1.0655 TP hit End the day with green pips
after the sl got hit on the first trade, you don't ever use limit order (like chart below at 1.065). only ever stop order (at 1.064). As technically 1.065 is the next 00 level below the "8:00 candle".
Quoting zentrader8
6.if its hit sl then see the market, see the high/low of the first 00 level above/under the 8 pm, place an order on that level with triple lots.
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