Finfx, which I also have live account.
I had tried demoing trader’s way, but after a while the trades started not executing, and I just don’t feel comfortable with them, not enough positive reviews, etc.
I have had Finfx for almost a year, and no complaints…I just need to trade up account bal to get onto ECN account, which has a much better spread.
Ok locked and loaded for Monday’s open. I have one fxpro and one finfx with identical settings. Made sure that the Lots and TP for 2 and 3 are zeros. Lets see what happens. Have a great weekend all.
Alright, everybody, I have been actively trying different things to this idea to see what happens, and I am pretty sure I have stumbled upon a different reference candle. While I have tried 8am EST (New York Open) hour candle and also 15 minute candle of London Open, I have not until now tried the first 15 minute candle of the New York Open, 8-8:15am EST. It is very good for 40 pips almost every day and it’s size is between 10-15 pips, so if you have a loss, it is still a good risk reward, and following the loss, if you hit a 40 pip TP, you still net at least 25 pips, so I will try foward testing this manually. It seems the EA can be sort of tweaked to use this, but it won’t really fully work. I was changing the time the EA entered the trades from 59 minutes to 15 minutes, and the time of the reference candle to the 8am EST candle, which on my broker plateform server is 15am. The problem is if both SL’s are hit, within the hour (hasn’t happened in the past that I visually backtested), then the new orders would be placed on the hourly candle, changing the dynamics and probably ruining that day.
I wonder how easy it would be to be able to have the EA trade the 15 minute candles?
My idea would be to run two EAs with the London strategy using the hourly ref candle of the london open, and the other EA with the 15 min NY open candle, and have unique magic numbers to keep the trades apart. I would have to use lot sizes that allowed multiple positions to be open at the same time. I think having both would greatly increase profitability. It seems on days the London time idea loses, the NY idea still wins, and on days both win, the bottom line will be at least twice as nice!
Today’s trades has both the London and NY buy trades sitting at profit, but need a ways to go to hit TP.
Pipscompounder, that is very cool info on the 15 min bar.
As for my EA, i am going to have to go back and check the settings again. I found several attempts to place the long order but they seem to have been cancelled. I still show a pending short order. Also, several of these alerts as shown below. Will keep you posted on the error as others may have this issue and if I can solve it, it may help them too.
Indeed, it is very cool as both London and NY candle’s trades have hit their respective 30 and 40 pip TPs today!! So, that’s another 40 pips on top of the original 30…very good!..this has me excited for the future.
Happy New Year everyone i’ve been away for too long now so pipcompounder if it isn’t to much trouble can you please post the last version of the EA and its settings thanks
Pipcompounder
I am going to forward test your 15 min strategy with you.
Just want to make sure I am on the same page as you:
Buy 3 pips above high of the NY Open reference candle.
TP 40 pips
SL 30 pips or low of reference candle
Sell 1 pip below low of the NY open reference candle
TP 40 pips
SL 30 pips or high of refernce candle
So for today, high of 8am candle was about 1.3038 so an entry around 1.3041 with a TP of 1.3081 which looks to have been hit around 10:30 am eastern time.
This was a little fun manually trading on demo this morning. As you can see, everybody, the reference candle has no wick on the top, so I entered a market order immedietly when the next candle opened, which entered a couple of pips up, this is where an EA can help a little bit, to keep the order as close to strategy as possible.
Reference the EA settings tabled by Riley; some final clarification please. You mentioned that Riley’s settings were good except for his Lot2 and Lot3 settings which should be zero (0). I understand that ‘pip’ values as shown are configured for 5 digit brokers. If UseMaxSL=true and MaxSL=30.0 (as shown in Riley’s settings) are used, wouldn’t this set the SL’s to a maximum of 3 pips instead of 30 pips?
Thanks again to you and CrissCross for the great work.
Michette, good catch. From my earlier post yesteday, you can see that the EA was not working properly for me. Couldnt figure out why I had several $3 losses. That would explain it.
Pipscompounder… NY open looks very good. as of this writing, nothing triggered but very close to hitting buy stop.
Have a great weekend all.
