Fantastic, rtripath. Can you please share Buy or Sell for each currency pair for this week please so that I can see if I am selecting right or wrong?
Hi rtripath,
I saw in your docs the following.
"It can give you 25% profit easily in a week. But a whole lot depend on how you manage it. "
How do you calculate 25% profit?
What do you mean by âhow you manage itâ? What exactly do I need to do please?
Hi rtripath,
I am a bit pleasantly surprised.
Yesterday 01/10/20, I did the trades (GU, GJ, EU and EG) manually and all hit SL. I give GU example below for clarification.
You must have managed somehow manually to make this profit. What did you do please?
Sorry for too detail question. Apologies. I need to learn.
GBP/USD - 01/10/20 - SELL
EP 12891 (8 AM Candle Close)
SL 12950 (7 Am candle High) - 59 pips
TP - 1.5R - 1.5 X 59 = 88.5 pips - 12891-88.5 = 12802.5
9AM candle - Low 12819.8 (The trade didnât reach TP) - after this price action reversed and hit SL
Same for other three trades.
1 Like
trailing stoploss? Explained in the summary.
Today I got 5 won and 1 loss. Won GU/GBPCAD/GBPNZD/EG and GBPCHF. Loss in GBPJPY . EURJPY and EURCAD were not triggered . Also I closed the trade very early as compared to my other day because of NFP news. Based on my experience so far News is the only factor that can affect this strategy in a big way. So please be aware of that. Overall this week 3 days of profit , 1 day of loss and 1 day of mixed result.Good one unlike last week.
Fantastic thanks! Is Backtesting before April correct? I ask because of the Timeshift.
You have to use the correct time frame for london time. So you can do from april onward one test and before april another. This is a good point and i missed that when i ran it for the whole year.
1 Like
Yes, you have to do the BT from Timeshift to Timeshift
I think the lesson learned here is that everyone is different. My original strategy is there for people to base on and make their own changes to suit their own trading style. You will not be able to copy another personâs way of trading 100% because mentally you are different - you will see and manage trades differently.
1 Like
Might you add an alert message and phone/mail notification to the EA? This would be very generous!
My understanding is that because my MT4 program is based on the brokerâs time, which does not have daylight savings, I do not need to make any changes to the times I draw my boxes and place my trades.
Am I correct?
@adamsc57 for me it is 9:58 right now, the box is created by the last 3 candles.The Breakout might happen now. It is closeâŚ
10:02 - no Breakout with the first Candle after London Opening at EU, GU, EG, EJ, GJ
No breakouts for me either.
Thanks for your help.
The EA trade for me GBPNZD/GBPJPY/GBPCAD/EURUSD/EURJPY/GU/EG and GBPCHF. Out of which EG was loss rest all are in profit varies from 5 pip to 35 pips as i moved SL to secure pips once in profit.Please note it may take 1-4 hours for making a trade. Minimum is one hour after london open as it is based on closure of hourly candle outside the rectangle to take a trade
1 Like
Well that was a profitable evening, using rtipathâs EA.
I have just got up and saw five out of six trades sitting at good profits, and one trade sitting at a small loss.
I closed them all and am very happy.
I know this wonât always be the case. I will try trailing SLs and manually moving TP levels down before bed to catch profits that may turn around during the night.
Looking forward to more testing.
1 Like
Lovely results.
Be careful with trailing SL. While it can save you from trades that turn around, high chance it will be taking you out of a lot of full TP winning trades as well because of pullbacks.
1 Like
Good job , even i got similar result. Depending on your broker your result may vary as 1pip here and there may not open a trade.I do not rely on trailing stop. As i can not monitor when trade happen i set the dynamic_sl=true so that it will execute the SL based on original strategy. Once i start monitoring I move the SL manually . Sometime that give me good profit sometime eat my profit.As long as overall I am getting positive pip I am good here. Be careful about news that comes between London to US open time frame .It can cause big loss
2 Likes
Today is a mixed day. When I wake up found 5 pairs already hit their SL. Able to get profit in GBPCAD/GBPNZD and GBPJPY. Few of the loss trade reversed and few loss could have been closed in profit If I was available to monitor.But thats how I am playing this one. Good thing is losses are not that huge.In 5 losing pair and 3 winning pair i made 55 pip of loss. Overall still profitable for this week
Yea, not a good day for me as well. I have 5 to 1 loss.
But not giving up.