Sorry Carnino, my impatience getting the better of me. I’ll see what they all say in the morning.
S.
No problem! I was once guilty of doing the same thing! It is all part of the learning curve!
Carnino,
I did not take your comments as disrespectful, nor did I intend to be disrespectful to you. I believe any differences in opinion will all sort themselves out as we progress with Vijay’s trading method. Personally, I am not a great fan of back tests because the reality of live trading is often fraught with irregularities that are frequently not covered in automated trading programs. I believe the live results are key.
Carnino, I request that you continue to bless us with your informative insight and testing as it is invaluable. You are a great contributor! Keep up the good work! We will all benefit from it.
Great trading,
Bob
Hello Bob,
Sorry, I am just on edge and a little too sensitive right now because of a personal issue at home. I will mellow out soon enough.
Regards,
Carnino
To deal with a “troll”, just click on the report icon, a triangle with an exclamation, in the lower left corner of the “troll’s” post, and report him to the admin.
[B]The more reports the quicker he gets kicked off.[/B]
EDIT: Alternatively, add him to your “Ignore List”. Just visit his profile page and click the “Add to Ignore List”.
EDIT: [I]Vijay[/I], I think that you as the author of the thread may also have the “power” to ban/kick him off the thread, but I do not know how that mechanism works.
Vijay’s method continues to show potential with his fxbook evidencing a 40% and 475 pips gain in just over three months. This would seem to be a successful revision of the Daybreak method that bobcat and I (and many others) worked on for months without achieving what Vijay has here. I will probably be able to add some configuration of this trading to my accounts in the next month or two.
If you will, those of you using or looking into the system, i.e., bobcat, carnino, stickerman, and others, can you share specifically how you are trading? Are you entering your positions manually, using the ea written by Mata Nui, or using Vijay’s personal ea? Also, I presently have half a dozen accounts with different brokers and, surprisingly, Oanda seems to have the best spread on the gbp/usd pair. It is presently showing around 15 points with no additional commission. I am not opposed to opening another account. What is your experience? Thanks for your help.
Time to say Hi to this awesome thread. Thanks to all the previous posters and contributors and Vijay for all your work. Very impressive.
I am still new but have been looking for a good break-out method I could practice with.
I use Oanda fx trade platform. I can set the daily candle to the 17.00 NY close. I enter my orders manually sometime after 5pm, as I am in the US Eastern time zone. Since 6/23, when I started, I had the exact results Vijay posted. I use his original method with 3 sell and 3 buy orders 1 pip from daily low and high price, 5 pip SL on all, but 5, 10 and 15 TP with the 3 different lot allocations. No trailing yet. Oanda sometimes spikes, as was the case this morning when all 3 buy orders get filled but than quickly closed as a loss.
Unfortunately, (fortunately :-)) I will spend the summer in Germany and will only have my iphone to trade with. On the Oanda mobile platform the daily candle still closes at midnight EST. I will still trying to follow this method. Toying with the idea of opening a Dukascopy account while I am there but have to study the legal restrictions for part year residents. 
Wishing you all a good trading summer. I will check in from time to time.
Best,
Angela
I am currently trading with Vijay’s EA in a live account with IC Market．This is my second attempt to use Vijay’s EA. I have used it in May and noticed that Live and Demo results based on the same EA and pair were materially different - winning trades in demo turn out to be losers in the live account. I stopped using the EA after I saw this happened a few times.
I must qualify that this obersvation is only my own experience with limited trades but it should highlight that variance in performance between demo and live account must not be overlooked when evaluating this strategy.
I am happy to share my live account performance with this EA. Do I do this with Myfxbook?
Hello Pipwoof
My results so far: as I mentioned in an earlier email I only started following this thread on a demo after the beginning of the month. So far I have been using FXDD, and entering the trades manually.
Total entries = 51
Wins = 23
Losses = 28
Percentage of wins = 45.1%
Total pips at end of the month = +85
Total cash 45.00 (= 4.5% for the month)
Not perhaps a startling amount compared to some of Vijay’s previous months, but still very positive and much better than other investments.
Stickerman
Thanks Vijay for posting an interesting EA, I’m considering using it to supplement my PA trading. Also thanks to Carnino for his suggestions and improvements.
I use Oanda MT4 and Oanda FX Trade (for order placement) and a Peperstone Demo acct for the NY close chart data. I too have noticed that on Oanda the spread on the GBP/USD about doubles from NY close to Tokyo open (as it does with most other pairs). Unless there’s an A+++ set up I usually don’t trade during that 2 hour TF.
Vijay, on your EA is it possible to manually change the trigger time for when the trade begins (say until 7pm EST), but based on the close of NY daily candle? If so, any idea how would that affect the entry, either long or short, if the price has already passed the daily high/low? Or would it just be better to use a buffer of say + 5 pips on longs to compensate for the increased spread?
Carnino, thank you for your reply. After testing both manual and with the EA today, it turns out it is more than a broker’s thing or MT4 thing. It is a lovely over regulated USA thing. It is the FIFO (First In First Out) rule which is part of US regulations put in place after the banking crises a few years ago. In the US if you have more than one trade on a pair the exit of those trades must be executed in the order of their original entry. In this case all three are entered at the same time so somehow the broker nets the take profits. The person I was chatting with from FXCM could not give me exact details, but the solution for me is to only enter one trade with one stop loss and then to enter separate trades in the opposite direction with the correct ratios to act as my take profits. It ends up doing the same thing. I wanted to send this reply, because it is not just a broker issue or an MT4 issue. This problem will come up for anyone trading from the USA whether using and EA or not.
Hi Grock,
You could try staggering the three entries just 1 pipette apart in sequence from one another. For example, I am using tonight’s pending order entries at 1.71162, 1.71163 and 1.71164 respectively. I doubt that the tiny entry differences will upset the win/lose results.
Great trading!
Bob
Hi everyone,
I purchased Vijays EA and am running it on IC markets now into my second week. I had a bit of an issue with my MT4 platform (or my ability to work MT4 platform) which resulted in me missing a couple of days trading (2 loosing days and 1 winning day).
Last week wasn’t the best trading week, but my account is sitting about where it began.
Vijay has been so helpful. He has answered my many questions and queries, and even spent some time logging onto my VPS to see why my EA wasn’t working. His customer service is really excellent.
Heres hoping this week has more winners!!
David
Hello Grock,
Why not use a broker outside of the USA?
Many brokers, all over the world, accept USA clients. Just find one that fits your needs and meets your criteria. For example, you could use a broker that is regulated and based in the UK (or any other country you prefer).
[I]EDIT: Also, you could try out my adaptation of Single Orders with the Trailing stop as it should not be affected by the FIFO issue.[/I]
Regards,
Carnino
I have no experience with FIFO but it seems a great idea Bob!
[B]EDIT: NB! Please ignore the following suggestion. It is useless because of FIFO rules, you have to stagger them in the sequence of closure with no other alternative. [/B]
INVALID (please ignore):
[I]I would suggest staggering the orders in sequence of lot allocation from smallest to largest. That way, if it is a micro fake-out where only one or two orders get triggered, then the stop-loss volume would be the smallest possible. Obviously, the probability of only breaking out one or two pipettes is very low, but when it does happen at least you end-up loosing less on the stop-loss this way.[/I]
Regards,
Carnino
There was a spike on entry and was loss in live account.
However all order triggered at different price.
regards
vijay
I have 6pip sleapage on real account
There is a type of protection afforded by trading with Oanda. My 3 orders tonight were cancelled automatically with no loss.
Here is Oanda’s explanation: " BV:SL stands for Bounds Violation on a stop loss order. An order is cancelled with the message “Order Canceled (BV:SL)” if [B]at the time of order execution[/B] the stop loss condition had already been met. This is more likely to occur around the news announcements due to increased spreads and higher volatility in the market.
An order that would be stopped out at the time of execution would result in an immediate loss - an action we assume you do not want to take. To avoid this loss, the platform treats take profits and stop losses in the same way as upper and lower bounds and will cancel the order if either of these bounds is violated."
This has occurred 3 times in the past month or so. This is the reason why my win% has been higher than others trading with other brokers that don’t allow for this protection.
Good trading everyone
Three entries and three wins for me last night. Good start to the month.
S
I had the same thing happen on Oanda at 4.30 am as Mr. Bobkat. All three buy orders got canceled on BL:SL. Looking at the calendar it must have been when the UK Manufacturing PMI came out positive…
Regarding the FIFO issue I have not had that happen on the two complete wins I had since I started using the system. All my 3 different TP levels where set and filled correctly. I will keep an eye out on it as I know Oanda applies the FiFO rules here in the US. Maybe they adjusted the server somehow?
Now who is going to win that soccer thing?