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  • #561
  • Apr 20, 2017 3:37am Apr 20, 2017 3:37am
I would just like to recommend this EA,
It's working really good. If you look at my chart above, I put a buy stop at 1.07300 and a stop at 1.07200. t/p 1.07400.
I also bought a sell stop which I cancel, if you look at my picture you can see the winning trade. And you can also see how my stoploss was moved to break even. I was never going to lose any money. Once the trade move in my direction

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File Type: ex4 0 - SL_TP_BE_all_FX_order_types v2.ex4   9 KB | 212 downloads
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File Type: mq4 0 - SL_TP_BE_all_FX_order_types v2.mq4   5 KB | 240 downloads
  • #562
  • Apr 20, 2017 3:44am Apr 20, 2017 3:44am
Quoting zentrader8
Hidden
As long as you are not acting as an IB referrer Zen!
https://tickmill.com/partnerships/introducing-broker/
Trade less and become more profitable!
  • #563
  • Apr 20, 2017 5:06am Apr 20, 2017 5:06am
Quoting Grimweasel
{quote} As long as you are not acting as an IB referrer Zen! https://tickmill.com/partnerships/introducing-broker/
even if im an ib,i see nothing wrong in it.
its a great broker, if ,you trade profitly you earn,i also earn.we both earn.if you join with the link you will get 5%off from the commision.its mutualism.
  • #564
  • Apr 20, 2017 5:07am Apr 20, 2017 5:07am
Quoting redfan
I would just like to recommend this EA, It's working really good. If you look at my chart above, I put a buy stop at 1.07300 and a stop at 1.07200. t/p 1.07400. I also bought a sell stop which I cancel, if you look at my picture you can see the winning trade. And you can also see how my stoploss was moved to break even. I was never going to lose any money. Once the trade move in my direction {image} {file}{file}
yes,just dont be greedy.nowadays i find its better to use one trade for a day.and trade on the other day if you.lose.just do it consistenly and you will get the result.
  • #565
  • Apr 20, 2017 5:21am Apr 20, 2017 5:21am
[quote=zentrader8;9777576]{quote} even if im an ib,i see nothing wrong in it.........

Supposed to be a non-commercial thread Zen :/
  • #566
  • Apr 20, 2017 6:11am Apr 20, 2017 6:11am
[quote=neil001;9777602]
Quoting zentrader8
{quote} even if im an ib,i see nothing wrong in it......... Supposed to be a non-commercial thread Zen :/
i see. i apologize then.
  • #567
  • Apr 21, 2017 2:22am Apr 21, 2017 2:22am
Red pips today.

Open 10710
Hit SL at 10725

Done until eurjpy this afternoon
Trade less and become more profitable!
  • #568
  • Apr 21, 2017 2:33am Apr 21, 2017 2:33am
Quoting Grimweasel
Red pips today. Open 10710 Hit SL at 10725 Done until eurjpy this afternoon
Mine did not trigger short, the low was 1 point above the RN .
So +10 it was.
  • #569
  • Apr 21, 2017 9:49am Apr 21, 2017 9:49am
today trade buystop @1.0720
tp @ 1.0730

today sell stop missed 0.1 pips didnt triggered,it triggered buystop and profit 10 pips.
green day today.
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  • #570
  • Apr 21, 2017 9:59am Apr 21, 2017 9:59am
this week,4 wins one lose.a good week this week.
  • #571
  • Apr 21, 2017 10:29am Apr 21, 2017 10:29am
Am I running the numbers wrong.....this very bad 80% winners and you loser - 2.86%......if risk is 1% @ 15 pips ....10 pips of profit= 8.3% of 1% or .0083% X 8 = total 6.64% profit ..2 losers@ 4.75% = 9.5% Loss.....-6.64= -2.86%
the risk of 15 to make 10 does not work ... 000 entry rule is equally not sound..so if you are 2 below 000 we will move 8 pips to enter.. requiring 18 pips to be safe I don't think so.....the money management is the worst I have every seen 80% win rate and you lose ????... this is a great system....I will trial it and it looks very good....rule 1 is good limit your loses 15 pips .. in my testing the martingales were the losers ....how to make this a fantastic system.....1//.entry point nearest 000 or 050.....so if you 2 pips below 000 the sell would enter after 3 pips @050.....2// NO MARTINGALE.... 3//// you must let your winner run or it is impossible to win! what to do.... split the 1% entry in half so 2 X 1/2% entries... TP 1 = +10 pips...move stop on 2nd entry to -5....if you get stopped out you break even or a small profit .....if you move the stop to the entry point how many times you seen market come back and take your profit.....if you going to break even why not give the trade every chance of success.. this way the 2 losers= -2% the other 8 even if 4 stopped out break even 4 trades run ... happy days conservatively one @ 20 pips one @ 30 one @ 50 one @ 80 ....4 X 1/2% = 2% that covers the loses then 20+30+50+80 =170 pips ... every 10 pips = 1/2% ...17 X 1/2% = 8.5% ... 8.5% every 10 trades WOW .. a lot of trades run and run 15 to 20% per month is possible....I will test it this way and report back ... looks like a great simple approach ....of course in my analysis none of the martingale were winners but even is 2 martingales were winners you would only break even ......break even = a waste of time...
  • #572
  • Apr 21, 2017 4:20pm Apr 21, 2017 4:20pm
My sell activated today and lost by 0.7 pip. Shows the value of having the lowest bid/offer spread possible
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  • #573
  • Apr 21, 2017 4:23pm Apr 21, 2017 4:23pm
Wallaby- I concur. Needs more work as I'm not comfortable with a R/R of 0.75% either, as you point out the long run could be negative. This would be the benefit of having coded into Amibroker or PRT to enable playing with the variables to fine tune. Entry and TP are sound. It's the money management and SL strategy that needs the work IMHO
Trade less and become more profitable!
  • #574
  • Apr 21, 2017 4:52pm Apr 21, 2017 4:52pm
Quoting Grimweasel
Wallaby- I concur. Needs more work as I'm not comfortable with a R/R of 0.75% either, as you point out the long run could be negative. This would be the benefit of having coded into Amibroker or PRT to enable playing with the variables to fine tune. Entry and TP are sound. It's the money management and SL strategy that needs the work IMHO
I trail the SL at a constant 15 pips and BE at 8. The average SL hovers around 10 that way. There must be a better way I'm shure.
  • #575
  • Apr 21, 2017 5:13pm Apr 21, 2017 5:13pm
Quoting Grimweasel
. Entry and TP are sound. It's the money management and SL strategy that needs the work IMHO
yep I agree - poor R:R and MM can turn the best strategy into a loss and a good MM can turn a marginal strategy into a winner...add the correct Psyche and..........!!!!
  • #576
  • Edited 7:00pm Apr 21, 2017 6:47pm | Edited 7:00pm
Ok, the key is the Volatility of the pair (expressed by the ATR). There is little point having a stop loss inside the period ATR. You'll get hit too often.

I have just manually back tested EurUsd from 30 Jan to 17 Apr.

I have some minor changes to the way I now trade.

I use a 24 period moving (1 day on an H1 chart) average as trend filter. Buy only if price above. Sell only if price below.

 

  1. If the 0600-0700 candle touches the ema - then apply the normal Zen rules but with 1x ATR stop and 10 pip target.

  1. If price > ema then disregard the .00 level above your signal candle. Look for the highest candle high of the day (starting at 0001hrs) and place buy order 1 pip above that candle high. This now looks for the trend to continue and fill our larger TP. 1xATR stop with a 1.5xATR TP. (so today the 24ATR is 13 pips. So 13 pip stop and 20 pip (rounded up) TP. This way winners will always be greater than losing trades. Cancel order by 0600 next day if not filled.

  1. If price < ema then reverse of above. Look for lowest low of that day (starting at 0001hrs) and place sell orders 1 pip below that candle low. 1xATR stop and 1.5xATR TP. Cancel order by 0600 next day if not filled.

Looking back at the period mentioned this yielded the following results:

Wins - 38
Losses - 14
No trades - 7

Assuming a 5K account and 2% per trade means start of 100 risk per trade. Divide this 100 by your ATR to arrive at per pip. In this case ATR today was 13 pips. So 100/13 = 7.69 so rounded down to 7.50 per pip (for max 100 loss). So 13 ATR x 1.5 = 19.5 so round up to 20. 20x7.50 = 150. So max loss 100, max gain 150. We are now hoping to win greater than losses.

38x150 = 5700
14x-100 =1400
Profit =4300. Not bad for 2 and a half months' work. And this assumes that you don't increase the 2% in line with growing balance, so just static 100 risk, 150 profit. 86% Gain. Not to be sniffed at.

I then did the same for EurJpy, M30 candle close at 1600 UK time (so 1530-1600 candle)

Same rules as above. 26 winners, 16 losers and 17 no trades.
Profit of 2300

Add that to the 4300 gives you 6600. 132% gain. No more than x2 trades per day. No martingales. Some day no trades at all.

See example chart below of EurUsd for random period in past 2 months.

Now, this was a manual eyeball test and there could be a few errors either side of the wins/losses, so if someone is good at coding maybe they could test these rules on a larger data sample for stability and validity?

Have a good weekend folks

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  • #577
  • Apr 22, 2017 2:24am Apr 22, 2017 2:24am
Quoting Grimweasel
Ok, the key is the Volatility of the pair (expressed by the ATR). There is little point having a stop loss inside the period ATR. You'll get hit too often. I have just manually back tested EurUsd from 30 Jan to 17 Apr. I have some minor changes to the way I now trade. I use a 24 period moving (1 day on an H1 chart) average as trend filter. Buy only if price above. Sell only if price below. If the 0600-0700 candle touches the ema - then apply the normal Zen rules but with 1x ATR stop and 10 pip target. If price > ema then disregard the .00 level...
1) If the 0600-0700 candle touches the ema - then apply the normal Zen rules but with 1x ATR stop and 10 pip target.
Is this the candle before Frankfurt Open?
Touches the ema means high or low of the candle touches ema?
  • #578
  • Apr 22, 2017 2:53am Apr 22, 2017 2:53am
Quoting grandaevus
{quote} 1) If the 0600-0700 candle touches the ema - then apply the normal Zen rules but with 1x ATR stop and 10 pip target. Is this the candle before Frankfurt Open? Touches the ema means high or low of the candle touches ema?
Yes, if the ema bisects or any part (wick/body) is in contact with EMA then trade normal Zen rules. It's your signal candle, ie the 0600-0700 for me, 1hr prior to cash equity open.
Trade less and become more profitable!
  • #579
  • Apr 22, 2017 3:13am Apr 22, 2017 3:13am
Quoting Grimweasel
{quote} Yes, if the ema bisects or any part (wick/body) is in contact with EMA then trade normal Zen rules. It's your signal candle, ie the 0600-0700 for me, 1hr prior to cash equity open.
Thanks,

Look for the highest candle high of the day (starting at 0001hrs) and place buy order 1 pip above that candle high.

This value differs from broker to broker.

My broker 's server time is gmt +3. I place pending orders at 9:00. So I have to look for 9 H1 bars to find highest high / lowest low but for an other trader whom broker's server time is gmt + 0 , it would be 6 bars.

Wouldn't be better to update the rule to "look for 12 bars highest high/lowest low before Frankfurt open"?
  • #580
  • Apr 22, 2017 5:14am Apr 22, 2017 5:14am
Quoting grandaevus
{quote} Thanks, Look for the highest candle high of the day (starting at 0001hrs) and place buy order 1 pip above that candle high. This value differs from broker to broker. My broker 's server time is gmt +3. I place pending orders at 9:00. So I have to look for 9 H1 bars to find highest high / lowest low but for an other trader whom broker's server time is gmt + 0 , it would be 6 bars. Wouldn't be better to update the rule to "look for 12 bars highest high/lowest low before Frankfurt open"?
It could be and I guess time zone might make a difference. You might want to use the last high in terms of an uptrend or last low for down trend. The idea is that we want trend continuation and this only takes place when each higher high and higher low are exceeded in an uptrend.

Brian Marber has an excellent book on technical trading. For a trend to exist you need a rule of 4. A low, a high, a higher low and a higher high. Only after this sequence should you draw a new trend line.

In essence I think you need to do whatever you like for your rules to define a trend. For me, that means above/below the EMA and a second check that the last high or last low (for short) is also broken. You could also use a shorter ema (say the 12) as a ribbon. You could use a 24 CCI. Above 0 line is bull trend and below 0 line is bear. I mark the +200 and -200 levels on a CCI as this is useful for short term momentum exhaustion. If price > ema and CCI(24) is above 0 BUT BELOW +200 level then buy. If greater than +200 then it could be overbought.

In essence, do whatever you are comfortable with to define a trend
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