Easy 5 minute Trading

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636

The last two weeks have been a killer !

But i did find something, here is some food for thought. Both EA’s on the H4 and Daily charts have been running forward from the 24th of September, so this could help filter our trades by only allowing trades to enter between the London market hours of 0800 - 1800 GMT

My myfxbook account allowing the Wicks EA on the H4 Chart to trade 24/7:

Wicks-H4-247.jpg700×331 27.8 KB

My fxbook account allowing the Wicks EA on the Daily chart to only trade 0800 - 1800 GMT:

Wicks-H4-0800-1800GMT.jpg700×332 25.9 KB

My fxbook account:

https://www.myfxbook.com/portfolio/ww-ea-h4-v24/390792

The last two weeks have been quite hard, but limiting trading on the H4 chart does help to protect profits and eliminate most losses reducing 8 losing days to 5.

Looks like an interesting find but take a look at applying this logic to the daily chart for the Wicks EA:

My myfxbook account allowing Wicks EA on the Daily chart to trade 24/7:

Wicks-D-247.jpg700×329 27.3 KB

My fxbook account allowing the Wicks EA on the Daily chart to only trade 0800 - 1800 GMT:

Wicks-D-0800-1800GMT.jpg700×332 24.5 KB

My fxbook account:

https://www.myfxbook.com/portfolio/ww-ea-d-v24/390794

637

Nice, I’ve been toying with that idea of finding particular times of day to trade on another ea.

good find :wink:

638

No worries, since i have had a month’s worth of forward testing data to play with im hoping this should work to improve the EA, since the EA i am running has been on autopilot running 24/7 through all the news and events of the last few weeks it has not done too badly.

It shall be interesting to see how the EA performs over the next few months though and if my find truly does hold weight.

Do you have a thread for the other EA your playing around with ?

639

Nah, it’s not working very good.

640

Darn it, lost a couple of accounts on 30 day expiry. Big variations between brokers. Worst was Pepper USA went to 20% gain while Pepper AU was about 8%. I have been running about 20 or so pairs and after weeks end will examine statements to see which pairs performed - or not. Will try to post MyFXBook link here now.

641

Better than MyFX Book though is FX Junction where you can see the pairs P/L - much more useful. Links to three : -

642

That’s quite a bit of variation given that it’s the same strategy but different brokers.

I found that my trades on a GMT+ 2 broker were different from, say, a GMT-6 broker. This was on the Daily TF.

For some unknown reason, the broker’s start-of-day time seemed to affect the quality of trade results. I’m still not sure why this happened – or even if it should happen.

643

Ah yes, but those shown are all on the same time and no Sunday bars

644

Hey Sandybeach, sorry I haven’t been around lately. Hope you found the answer you were looking for. I’m using the 110.0 fib level as my entry point. Still making profits with the original rules of this system. I’m on page 13/63 for this thread, a LOT to catch up on lol!

645

OK all, while I’m trying to catch up with everything in this thread and all the hardwork everyone else is putting into it, I’m just wondering how everyone is trading the Whicked Wicks?
Are you guys using the original rules, or have you altered them and getting better results?

I read somewhere someone is closing the trade manually at the end of the trading day if the candle doesn’t hit the TP or the SL levels. Personally, once I set the trades I don’t touch them, let them run their course, moving the SL with each Fib level manually. It’s a pain in the ass lemme tell you but I’m seeing consistant profits. I still have a LOT of reading to do to catch up. 40 or so pages of posts lol.
Well here goes nothing!

Cheers!

Edit: Wow I can’t believe you guys are working on an EA for this system. That’s awesome! I’m still only at page 18/63 and am uber pumped!
The filter I have been using for the ‘fibs too short’ is the distance between 110 and 130 levels. If the distance is less than 15 pips, I don’t trade. Other than that, everything else is the same. I never look at news releases etc, news doesn’t really have an effect on the daily time frames as it does on the smaller ones. Have a good weekend, mine will be busy reading this thread!

646

Hi Windsor - Great to see you back - you did start this so I hope you stick around for a while. If you have a look at my results about 3 and 4 posts above yours, these are my prelim testing with the EA. No manual intervention. Shortly I will weed out the underperformers but nonetheless, one account is up about 50 % in just a few weeks

647

Really? i thought this was inconsistent. I had too many losses.

648

It did go thru’ a bad patch in November and a glance at the charts makes that plain. Of course my test period is way to short and currently very general but with some good management I think this EA may show VG results longer term.

649

Ah, nice work.

I was trading before november though.

650

Good to see windsor back ahah, he sure has a lot to catch up on :P.

651

Hey guys n gals. Thanks for the warm welcome back lol. It’s been a long time :smiley:

I’m only on pages 25/64 so far (TONS of info to go through!). I did notice some things though that I’m not sure if you’ve discussed or not so here goes.

Currently, I’m trading GBPUSD, USDCAD, AUDUSD and EURUSD. Sometimes I have 10 or more charts set up per pair as I use the stop loss EA, and have multiple trades per pair (setting up trades once per day, every day of the week) and letting them run their course. It can get sort of hectic trying to track which chart is taking care of which trade, so I try and keep things to a minimum. If I were to trade more pairs, I’d have a lot more charts to track and take up more of my time. This system was meant to be a quick set and forget type of system.

This strategy does hit the BE point a LOT, which is kind of a blessing and a curse. It’s very frustrating to see price go up, hit the 131 fib mark, retrace to the 110 mark, then go on and eventually hit the various profit levels. On the flip side of it, when the price hits the 131 mark and goes the opposite direction by hundreds of pips you can breath a sigh of relief as the BE protects your capital.

We’re looking to get multiple entries into a strong trend. Once that nice strong trend develops, and you get 3 or more days of good entries that’s where the big bucks are at. Limiting the EA to trading only 1 open trade at a time will significantly reduce the multiple entries into the strong trends.

As for closing the trades on Friday, I have yet to experience a big enough gap where my stops were overlooked. I guess that’s just another way to protect profits that I need to look into a bit more eh? I’m just wondering if closing any trades early will result in a loss of the bigger picture. I know the 400 fib level rarely gets hit, but when it does, chaching. For price to hit that 400 fib level, it could take weeks, cutting it short on a friday might miss that opportunity. Again, it might save some profits from the SL being overlooked but again, so far I haven’t had any issues with this.

Do you guys mind posting up the latest EA so I can take a peak? I know I’ll find it eventually, but as I still have about 40 pages of notes to go through, I may end up missing it :smiley: Thanks!

Thanks for all your hard work and effort into tweaking the system. That was the whole reason why I posted it, to get some good feedback (which is being generated)

652

Altostrader, wow you’re getting pretty darn good results so far. It’s interesting to note, on all three accounts the JPY pairs are the money makers.
What settings are you using?

On another note…half way done lol. 32/64!

Thx for everyone for your insights and hard work to help improve this system. I did notice someone had said the rules had changed from the original post. Can you guys post up what you’re using as the basic rules? How did the 131 fib entry work out? I’m sure I’ll get to the answers sooner or later but would be nice to get a summary ahead of time :smiley: Thanks!

653

Heya the latest EA is on this thread:

http://forums.babypips.com/free-forex-trading-systems/39181-easy-5-minute-trading-60.html#post415387

With regards to the EA these are my results so far:

Running on the H4 chart:
https://www.myfxbook.com/portfolio/t-ww-h4-v24/390792

Running on the Daily chart:
https://www.myfxbook.com/portfolio/t-ww-d-v24/390794

I have used the EA on other pairs which i would not normally trade on. The EA has been left to run 24/7 so there have been times in the last few months when i would not let it trade.

If you could let the EA run alongside you trading manually maybe you could feed back to us if there is anything you believe should be changed to improve the EA ?

Thanks

654

Will do, thanks for the link. I’ll hopefully be caught up by tomorrow, i’m at page 36 now lol. Still much info to go through. I started demo testing a slight tweak about a month or so ago with good results, will post an indepth detail of the changes soon. Thanks again!

655

No problem, glad to see your back the EA did differ slightly from the original rules as we had to compensate for and not take trades if the fibo lines were too tight together, as naturally you would filter them out manually.

I will be interested to see what you think of the EA and how it compares to your manual trading :slight_smile: