The route is the goal
Simplicity is the Ultimate Sophistication
- #305
- Edited Apr 1, 2017 12:46am Mar 31, 2017 9:35pm | Edited Apr 1, 2017 12:46am
- Joined Mar 2009 | Status: Trader | 885 Posts
###ZenTraderEAV04
When the last candle before London opening starts, ea puts a BuyStop & SellStop order. When price hits one of these pending orders, ea immediately deletes the other pending order and sets a stop loss and take profit in accordance with actual order open price.
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What's new in this version?
EA now supports moving StopLoss to BreakEven after X pips (Default = 8 pips)
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LondonSessionOpeningTime = 10:00 for icmarkets mt4 server time (gmt+3)
Commission = 0.7 pips for icmarkets (for non commission based accounts, should be 0)
Leverage = 10 (for every 1,000$ account balance , ea opens 0.10 lot) (risk is only % 1.5 of of your account balance)
MaxSpread = 0.5 pips (change it if your spread is higher)
*** Use it only in 1H EURUSD Chart
*** EA opens just one trade per day. If stop loss hits and you want to recover your loss by a triple lot size, you have to trade manually.
*** LondonSessionOpeningTime should be set to London opening time . It's 7.00 gmt+00. Since all brokers don't use gmt+00, you have to change it in accordance with your mt4 server time. Speaking for icmarkets , it's 10:00 (gmt+3)
*** Please try this ea in demo account first.
How To Find The Right LondonSessionOpeningTime
@ forexfactory home page, click on time options
Change TimeZone till it matches with your mt4 server time (DST OFF)
Check time again. Be sure that it is synchronized with your mt4 server time
Find the box that shows trading sessions at the bottom of the home page. Find the London Opening Time and enter the value in to LondonSessionOpeningTime parameter
When the last candle before London opening starts, ea puts a BuyStop & SellStop order. When price hits one of these pending orders, ea immediately deletes the other pending order and sets a stop loss and take profit in accordance with actual order open price.
--------------------------------------------------------------------------------------------------------------------------------
What's new in this version?
EA now supports moving StopLoss to BreakEven after X pips (Default = 8 pips)
-----------------------------------------------------------------------------------------------------
LondonSessionOpeningTime = 10:00 for icmarkets mt4 server time (gmt+3)
Commission = 0.7 pips for icmarkets (for non commission based accounts, should be 0)
Leverage = 10 (for every 1,000$ account balance , ea opens 0.10 lot) (risk is only % 1.5 of of your account balance)
MaxSpread = 0.5 pips (change it if your spread is higher)
*** Use it only in 1H EURUSD Chart
*** EA opens just one trade per day. If stop loss hits and you want to recover your loss by a triple lot size, you have to trade manually.
*** LondonSessionOpeningTime should be set to London opening time . It's 7.00 gmt+00. Since all brokers don't use gmt+00, you have to change it in accordance with your mt4 server time. Speaking for icmarkets , it's 10:00 (gmt+3)
*** Please try this ea in demo account first.
How To Find The Right LondonSessionOpeningTime
@ forexfactory home page, click on time options
Change TimeZone till it matches with your mt4 server time (DST OFF)
Check time again. Be sure that it is synchronized with your mt4 server time
Find the box that shows trading sessions at the bottom of the home page. Find the London Opening Time and enter the value in to LondonSessionOpeningTime parameter
{quote} 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.
Ofcourse, just if anyone have been doing this system for a while ~ what's their ROI
? gonna run 2 seperate accounts doing this, 1 with 100-200$, doing a modified version of rags to riches, and then trade normal on my other account just for a few weeks see how it pans out ! Thanks for the easy and somewhat exciting way of trading haha!
I check the time from middle of last year December to now end of March.
December last half was very bad for this system!
so the result is depend of your MM, in one case you loose half of your money and in the best case you win in this 3-1/2 Month all together 10% of your capital.
if you start 1 January this Year with the best MM you can make 30%
you hope if you trade at real account you choose the right time
good luck to all, then we need it!
December last half was very bad for this system!
so the result is depend of your MM, in one case you loose half of your money and in the best case you win in this 3-1/2 Month all together 10% of your capital.
if you start 1 January this Year with the best MM you can make 30%
you hope if you trade at real account you choose the right time
good luck to all, then we need it!
I check the time from middle of last year December to now end of March. December last half was very bad for this system! so the result is depend of your MM, in one case you loose half of your money and in the best case you win in this 3-1/2 Month all together 10% of your capital. if you start 1 January this Year with the best MM you can make 30% you hope if you trade at real account you choose the right time good luck to all, then we need it!
https://www.oanda.com/forex-trading/...isk-calculator
It's never a good idea to trade the Xmas period as vola is too low (see chart - ATR was barely 11 from 23-29 Dec). Most traders and therefore vola come back to desks in second week in Jan.
Trade less and become more profitable!
- #312
- Apr 1, 2017 7:27am Apr 1, 2017 7:27am
- Joined Sep 2011 | Status: Trader | 1,252 Posts
{quote} Zen, in order to prevent misunderstanding, Could you please confirm the entry price levels of (second trade) recovery pending buy/sell stop orders? Suppose, High / Low prices of 8:00 1H EurUSd Candle are (two hours before London opening) (icmarkets London Opening Time = 10:00 gmt +3) High : 1.08524 Low : 1.08443 Close : 1.08501 As soon as 8:00 candle closes and 9:00 candle starts we place buy/sell stop orders (1 hour before London opening) BuyStop @ 1.08600 SellStop @ 1.08400 Price moves upwards, triggers our pending buystop and a long order...
I'm sorry about this. But I'm getting confused when you say 9 o'clock is the London open,
I am trading in Great Britain. So the clock on my wall tells me when London opens, And when I place my mouse over the candle. It tells me which candle, as just open.
What makes it so confusing is my broker as two candles or two hours in front of me.
So I count everything from the mid-night line. Could you just look at my chart and tell me if I have got this right.
Thank you
{quote} Zen, in order to prevent misunderstanding, Could you please confirm the entry price levels of (second trade) recovery pending buy/sell stop orders? Suppose, High / Low prices of 8:00 1H EurUSd Candle are (two hours before London opening) (icmarkets London Opening Time = 10:00 gmt +3) High : 1.08524 Low : 1.08443 Close : 1.08501 As soon as 8:00 candle closes and 9:00 candle starts we place buy/sell stop orders (1 hour before London opening) BuyStop @ 1.08600 SellStop @ 1.08400 Price moves upwards, triggers our pending buystop and a long order...
In this case ,the second trade would be buy stop @ 1.0860 and sell stop @ 1.0840.
Because the first it hit SL and the 00 pricle price above and below 8 candle is @1.0860 and @1.0840, so we still put it on the level.
{quote} Thanks for the update
Hi Everyone, I am following this tread and reading your posts. I think it is really helpful but it still can be misleading. Let me sum up our rules for you to review and to modify if necessary. Zen Trader Method: Play major pair with low spread, most commonly EUR/USD Use 1H chart with marks at 00 levels Focus on market openings, most commonly London open (8:00 GMT) but you can also use NY Open, Tokyo Open etc... Two hours before market open (6:00 GMT) watch 1H candle and mark her HIGH and LOW, those are your reference points If next candle (7:00...
