[QUOTE=pullice;177003]
32 days would have had you in profit (30 pips) if TP was 30 pips
27 days would have averaged once the trade 30 pips away and made a few pips (no loss)
21 days you would have averaged twice where price was 60 pips away from your first entry to break even (no loss)
12 days you would have had averaged thrice and broke even (no loss). this is very highly leverage and you could have blown about 20 of your account.
8 days where no trades were being made where the hi or low were not reached
QUOTE]
your wording confuses me some. This for example
" averaged once the trade 30 pips away"
That sounds like the kind of backtesting Iām wanting to do though. If I can find time.
Just a quick glance today with that sessions indicator. It sure would be good to catch the big moves rather than limit it to 20 tp some days.
got 20 again last night, but question. should I be using 5pm to 5pm Eastern time as a day? or midnight to midnight?
I would have made the 20pips either way, but would have gotten the order triggered at a different price.
If I had left the trade open rather than using a 20pip TP, it would be up about 80pips about now. It would have retraced back to about even a couple times.
30 pips on e/u
using New York close as the daily break
I am setting 30 pip stops and 30 pip take profit on a few pairs.
I have been reading another thread that says to use midnight to midnight as the daily break I am not sure how much it matters which way its done in the context of this strat. For me using 5 pm to 5 pm works better simply because I can place my trades in the evening local time instead of 1 AM.
maybe I should try 30 instead of 20. Picking 20 was kind of arbitrary considering my initial analysis says that something like 55 would be better, but I like the gratification of frequent wins. Thatās not a good reason is it.
I think usually 5pm vs. midnight as a break wouldnāt make much difference. Unless the day closes near itās high or low and then the Asian session could trigger an order. Donāt know if that would be good, bad or indifferent.
I have a bad habit of stying up till 12 or 1am and getting about 5 or 6 hours of sleep. So much for trying to change my schedule and trade London open while awake.
Started record keeping of daily results this week. Looking back past couple weeks itās been mostly wins but havnāt done a good job of keeping track. Maybe I should keep a running total in post number 2.
Scooby, I like your idea of doing multiple break outs. and Shr1keās multiple pairs, might be a good idea to combine the two in a shotgun aproach.
You can set up that indicator (FX sessions) to show the full standard day, such as a complete daily bar, and another 24 hour period such as midnight-midnight or any other time, and if you ever need anymore boxes simply open the editor, open the indicator, copy and past all of the code into a new indicator and save it as something like FX sessions2 that way you can use two of the exact same indicator.
I set up that indicator on a 15m chart and wanted to set the start time and end time so that the box covers the complete day, say from 17:00 EST to 16:59 the following day, so 24 hours. but I have to stop it an hour short at 16:00 or else the box doesnāt show up. So thereās a one hour period that it doesnāt cover. Is there a way to fix that? or am I doing it wrong?
itās not that big a deal, just wondering
Iām having the same problem, dont know what could be done to fix it other then simply put another session on for the last candle, BTW, look at GBP/JPY, using a SL at the end of a session or other Time period so if your shorting having the SL at the top, is usually like 50-60 pips, its rarely hit, and profits range from +30 to +300, those +300 days make that SL very small in comparison
I fired the shotgun again tonight:D
8 pairs with a 30 pip sl,tp
one trade is open now and up 14 pips
this takes about 5 min to do each night if this shows any potential as is its worth the time.
the account I am doing this with is linked at myfxbook so in a few weeks it will be real easy to see how its working. I will share the history so we can all see how it does.
The same SL/TP for all eight pairsā¦? Donāt some pairs have a much smaller ADR? I admit I still havenāt gotten round to computing the ADRs for all the pairs.
Also, are you taking notes from that earlier article and avoiding trade setups where the previous dayās candle is less than 90 pips and/or an āinside barā?
I am using the same set up for all pairs I am not really looking at stuff like adr and candle patterns just putting out the orders and seeing what happens. I closed out a trade the made it to about 29 pips profit then it retraced back about 10 pips I closed it at +20. I am just using as broad a brush as I can to try and catch a few pips every day not the most pips just end each day on the positive side with the least amount of work. Down the road if this is break even or a little bit profitable I think the way to improve it would be to tweek the stop size a little based on the pair. I still think its really easy to optimize a strategy right into uselessness based on past data. I think the best bet is to reliably take a small profit.
20 pips again last night while asleep. That was the sell that got triggered and I just cancelled the buy stop.
Iām keeping track on an excel spreadsheet.
I disagree with not trading if the previous day was an inside bar. I think that would represent price being in a range from which you could break out of.
Of courseā¦ I could be wrong.
There was one morning when I I got both orders triggered for 2 wins. and if I remember correctly that was breaking out of an inside bar. Iāll have to look back to verify that.
Tried my first set of entry orders last night. I tried three pairs and the following triggered: GJ Short netted -30, GU Short netted +20, EG Long netted -10.
I went with 30:20 SL/TP save for EG where the much smaller ADR I felt would be better served with equivalently smaller stops. I chose 10:8 and would have had a winning trade with a slightly larger stop-loss.
I had longs on both E/U and G/J, both made me 20 pips, if i hadnt set the TP to +20 i could have been up +100 on each trade :p, oh well, ill take an easy 40 pips any day
Are you setting your entries at the previous high/low from the candle ending with the NY session? Cause my G/J triggered short only overnight (I closed the non-triggered [I]opposing[/I] pending trades when I got up this morning).
it happens but you would have still netted +50
That was the sell that got triggered and I just cancelled the buy stop.