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Simplicity is the Ultimate Sophistication

  • #281
  • Mar 31, 2017 2:32am Mar 31, 2017 2:32am
Quoting grandaevus
Buystop has been triggered. Because of slippage, actual open price is 1.06802. Commission is 0.7 pips (icmarkets) Ea puts TP @ 1.06909 (10 pips + commission) and SL @ 1.06659 (15 pips - commission) I'll move SL to BE @ 1.06889 (order opening price + commission + 8 pips)
Hits 1.06889 move SL to breakeven = order open price + commission = 1.06809
  • #282
  • Mar 31, 2017 2:33am Mar 31, 2017 2:33am
Price hits TP . Done for today.
  • #283
  • Mar 31, 2017 4:00am Mar 31, 2017 4:00am
Quoting grandaevus
Zen, What about moving stop loss to breakeven when price goes open price + 8 pips and then put a trailing stop = 1 pip.
Since this is trading the "Frankfurt momentum", maybe also applying a direct trailing stop so that if price goes to +7 pips, our SL would be at -8, then let pick up the +8 trailing stop with breakeven. On average out SL would be around -10 or so, less or no need for "recovery"...
  • #284
  • Mar 31, 2017 4:20am Mar 31, 2017 4:20am
Quoting Timnyman94
Have i understood it right.. the candle that's about to start in 20 minutes, when that closes you take the 00 levels above and below it, place your pending orders and then just wait till one gets hit, remove the other, 15 pips stop loss, 10 pips tp.? easy as that? Only thing i havnt quite gotten - if SL is taken - are we supposed to look only for the other way to trade? Lets say our first pending was a buy order, sl taken - we're only looking for sells for our second? or is it again, buy pending above, sell pending below "00's"
yes as easy as that
  • #285
  • Mar 31, 2017 4:24am Mar 31, 2017 4:24am
Quoting grandaevus
{quote} Hits 1.06889 move SL to breakeven = order open price + commission = 1.06809
yes , if it hit stop loss then the next trade would be 00 level again, if it go up then buy, so no need to only trade the opposite.
now i open two trade , one at 10 pips Take profit, and the other one at 10 BE+1.
and my Sl now only use 13 pips.
  • #286
  • Mar 31, 2017 4:26am Mar 31, 2017 4:26am
ended the day with green pips.
This week only one day failed(yesterday).but second trade ended with profit as well.
so this two weeks can count as 8 consecutive wins on the first trade.(from last monday-wednesday).
and only one has second trade, which is yesterday.
and today also only needs a trade to ended the day.

Hope you all have a nice weekend
  • #287
  • Mar 31, 2017 4:28am Mar 31, 2017 4:28am
Quoting grandaevus
Price hits TP . Done for today.
Can you add the feature to open the second trade as well?
and first trade can you add to open two trade?
so one can hit at 10 pips, the other one we let it run without risk.
  • #288
  • Mar 31, 2017 4:29am Mar 31, 2017 4:29am
Quoting guybaker
{quote} Have you back tested this? how many days have you tested?
Please do a backtest and also forward test.
  • #289
  • Mar 31, 2017 4:59am Mar 31, 2017 4:59am
Quoting zentrader8
{quote} Please do a backtest and also forward test.
lol ) Thanks I know what the result will be
I live entirely from the growth of my personal trading account
  • #290
  • Edited 5:24am Mar 31, 2017 5:06am | Edited 5:24am
Quoting zentrader8
{quote} Can you add the feature to open the second trade as well? and first trade can you add to open two trade? so one can hit at 10 pips, the other one we let it run without risk.
For first trade, if you want to open a second order, please open another 1h eurusd chart, and run ea with a different magic number.
  • #291
  • Mar 31, 2017 5:15am Mar 31, 2017 5:15am
Quoting zentrader8
{quote} Can you add the feature to open the second trade as well? and first trade can you add to open two trade? so one can hit at 10 pips, the other one we let it run without risk.
Zen, speaking for today.
Long order has been triggered.
Open price : 1.06800
TP : 1.06900
SL : 1.06650

If stop loss hits, we place a triple lot sellstop order @ 1.0660.

What about the buystop order?

Could you please confirm the right price for the buystop order?

Thanks in advance.
  • #292
  • Mar 31, 2017 5:17am Mar 31, 2017 5:17am
Quoting zentrader8
{quote} Please do a backtest and also forward test.
May i ask what % gain you've been doing with this method since you started ? i'm happy for the 150$ this made me today haha! ty
  • #293
  • Mar 31, 2017 5:19am Mar 31, 2017 5:19am
Quoting zentrader8
{quote} Can you add the feature to open the second trade as well? and first trade can you add to open two trade? so one can hit at 10 pips, the other one we let it run without risk.
Zen, speaking for today.
Long order has been triggered.
Open price : 1.06800
TP : 1.06900
SL : 1.06650

If stop loss hits, we place a triple lot sellstop order @ 1.0660.

What about the buystop order?

Could you please confirm the right price for the buystop order?

Thanks in advance.
  • #294
  • Mar 31, 2017 5:35am Mar 31, 2017 5:35am
Quoting grandaevus
{quote} Zen, speaking for today. Long order has been triggered. Open price : 1.06800 TP : 1.06900 SL : 1.06650 If stop loss hits, we place a triple lot sellstop order @ 1.0660. What about the buystop order? Could you please confirm the right price for the buystop order? Thanks in advance.


What he meant is you do the same as with the first trade.

buy order will be at 1.0670.
  • #295
  • Edited 6:43am Mar 31, 2017 5:45am | Edited 6:43am
Quoting Timnyman94
{quote} What he meant is you do the same as with the first trade. buy order will be at 1.0670.
I'm not sure but what he meant is find the highest point that price reaches after your long order has been opened.

Lets say, highest point is 1.06876. Then place a buystop order to the next 1.xx000 level.

In my opinion, buystop order should be placed @ 1.06900.

Looking for a confirmation from zen.
  • #296
  • Mar 31, 2017 5:48am Mar 31, 2017 5:48am
Quoting grandaevus
{quote} I'm not sure but what he meant is find the highest point that price reaches after your long order has been opened. Lets say, highest point is 1.0687. Then place a buystop order to the next 1.xx000 level. In my opinion, buystop order should be placed @ 1.0690. Looking for a confirmation from zen.


Using this method for Rags to riches might be something.. hmm.. :O! 5-6 wins in arow and you got like 10000% ROI
  • #297
  • Mar 31, 2017 12:01pm Mar 31, 2017 12:01pm
Quoting grandaevus
{quote} Zen, speaking for today. Long order has been triggered. Open price : 1.06800 TP : 1.06900 SL : 1.06650 If stop loss hits, we place a triple lot sellstop order @ 1.0660. What about the buystop order? Could you please confirm the right price for the buystop order? Thanks in advance.
For example today price, Open price : 1.06800 TP : 1.06900 SL : 1.06650 If stop loss hits, we place a triple lot sellstop order @ 1.0660. But if it didnt touch the sell stop at 1.0660, and go up to price 1.0680 again , we will take that trade again(buy stop there again).. Just remember second trade must still above or below the highest or low the candle 8(2 hours before london open)made.
  • #298
  • Mar 31, 2017 12:02pm Mar 31, 2017 12:02pm
Quoting grandaevus
{quote} I'm not sure but what he meant is find the highest point that price reaches after your long order has been opened. Lets say, highest point is 1.06876. Then place a buystop order to the next 1.xx000 level. In my opinion, buystop order should be placed @ 1.06900. Looking for a confirmation from zen.
this case if highest point is 1.06876 then the buystop should be 1.0690.
Hope this clear the confusion.
  • #299
  • Mar 31, 2017 12:05pm Mar 31, 2017 12:05pm
Quoting Timnyman94
{quote} May i ask what % gain you've been doing with this method since you started ? i'm happy for the 150$ this made me today haha! ty
Youre welcome, just remember that the method itself doesnt always made you profit or lose.
its money management and our mind management that made a good trader.
a good trader trade for the long run, gambler trade for a trade or two.
Trading is a long journey.
  • #300
  • Mar 31, 2017 12:05pm Mar 31, 2017 12:05pm
Quoting guybaker
{quote} lol ) Thanks I know what the result will be
Good then
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