The Sproule System

Better image can be found here - The Sproule Trading System � The Silent Sniper EA

I like the idea of nice simple systems. Have you tried backtesting this over any period (either manually or with your EA)?

The problem with simple price/MA crossover systems is that they often suffer from too many false signals to be profitable in the long term. I tried backtesting this over various periods and each time, whilst there were some nice trends to be found, there were too many signals that lost.

While back testing, the issue was that the trade was entered, and then lost within the next few bars, so the MA had not moved enough to allow the stop to tighten. I was trading 2% on each trade, and as a result, the losses were too many so I couldn’t make any profit. When you say that in a sideways movement your EA makes a few small losses, how is that? What is it doing to move the SL so as to reduce the risk?

I like the name “Sproule” :slight_smile:

I found that there are many small orders triggered around the MA line, so I added “Once per bar” functionality. That means only one order per bar (one hour) can exist. I added StdDev (pipbiquitous idea) and the result is here:
FxDreema - The Sproule System
(click .mq4 or .ex4)

what is it used for?

i want to ask you take trades according to the first candle closes after touching the EMA? you look for a marubozu candle for ex? and one more question did you ever test it with NZD pairs?
looks promising. thanks for sharing

I think that this system has much potential, I’ll keep into consideration during the 2012 and making the necessary changes.
I think that the same system can also be applied for a time frame of 15 min or 4 hours, what do you think about?

I open the trade on the new candle, so when the new hourly candle opens, I check the previous candle to make sure the high\low was on the opposite side of the ema, this means that we know the trend, but sometimes we can be caught with this if the there is a news report and the price whipsaws.

I’m currently looking at a slightly modified version to ensure we know the trend and to cut out the trades that whipsaw.

No i haven’t looked at the NZD pairs, big I’m sure it will work on them as well.

The H4 chart definitly suit this strategy and you have the protential to get really good trends and big profits but if your want to see something happening fast it not for you as the trades opening only happen every few days, but well worth thewait if you what to gain big profits.

Yes, I think I will test this system on 15 min, H1 and H4 charts :slight_smile: Thank you guy :47:

There might be an EA on the market very soon! :59:

http://forums.babypips.com/expert-advisors-automated-trading/42644-silent-sniper-pre-release-testing.html

I just had a look at 4 pairs with the NZD, there are some pretty amazing trends on the H1 & H4, one trade that would have started in Dec would have netted +780pips!!!

That’s proper trading! :59::60:

Results of the EA on my real account using this trading strategy.

i would be very thankful if you can modify it because i got stopped by whipsaws twice today :slight_smile: there should be some indicator to avoid the most of the whipsaws…

can we get the EA and test it?

Hi Zirzovat,

I’m currently working on a modified strategy that will take out alot of the whipsaws… keep checking back here as it will be posted soon… :slight_smile:

I have a number of people testing it at the minute so I don’t need any more testers at the moment.

Head over to the EA theads and see how the EA is performing - http://forums.babypips.com/expert-advisors-automated-trading/42644-silent-sniper-pre-release-testing.html

your strategy has given one more signal but today it is enough coz i lost all of my trades so far ( 4 total) … i shall look for a signal tomorrow. i will be checking back here regularly. as i am sick of being the one of consistent losers. so i really look for a good strategy to stick it :slight_smile:

What pairs are you trading? I am trading the 8 pairs and I have had 4 that have opened and closed and with a loss of 41pips,

But on the other hand I have 5 open trades with a profit of +400pips. During the rally with the news release in the US, I removed the TP and set a trailing stop to get the maximum return.

So in total counting closed and open trades today, I’m +365pips.

Go to the myfxbook link on the 2nd page on this thread and you can see my real account details of these trades.

Have you made those adjustments on the account that is trading this system? If so, your test results have now basically become invalid since you’ve broken your own rules to get extra pips.

If there was an EA trading this, the EA would not have been able to make those adjustments.

Well done that you were able to get more pips…fantastic, however, if you are going to trade manually, you need to do it using a different account and use this one just for strictly trading your system.

Hi Jedster,

I’m not doing any manual trading, all the trades are being excuted by an EA on this account. I just changed the EA not to have a TP value, the trading strategy is still the same.

Althought a trading plan should be stuck to, I personally believe that as the market is continuously changing based on real world events i.e. new reports, wars, famines, etc, a trader should be able to adapt to these changes in order to maximise their trading potential, even if this involves breaking from their trading strategy.

For example, if my trading strategy has a TP of 100pips and a SL of 50pips, the trades opens and moves in the direction of the trade. Then there is a news release, the price is clearly going to continue in favor of the trade, you can either stick to your plan and take the 100pips, or you can abort your plan, move your SL to lock in 50pips, and either remove your TP to let it run while continuously moving your SL locking in more pips, or just set you TP to a higher level.

If your a beginner in the forex trading world then yes, stick to your tried and tested plan and gain experience for at least 6-8months before breaking from your strategy.