I use Armada Markets… And NY also 5 entries each side…
I use the MM option 1… But I can’t imagine that to be the issue…Strange isn’t it?
I’ll try next time in their live account, and other demos and let you know on Monday if problem persists…
Today for me London Buy Loss… Sell TP30 … NY Double Loss
Enjoy the weekend PipManiacs!!!
Cheers from Spain…
So this week breaks down from a net loss of -4 pips with the following
London trades netted +90 pips
NY trades netted -94 pips …boooo NY!
note: on London this week, using 60 pip TP netted 150 pips by itself, plus or minus the outcome of today’s London sell, which would still be open, looking for 60 pips.
This seems more intriguing to look at a 57 pip TP, (because of 3 pips above ref candle buffer) for London, and stick with it. Ny may be a good idea over the long run, but it also means the possiblility of more consecutive losses, which it has played on us the last 2 weeks, which forces us to reduce trade size for risk reasons, which may outweigh the benefits of trading the NY idea in addition to London…what do you guys think about this?
EDIT: London with 60 pip idea would have closed the day at about net +5 pips. -25 pip buy, and forced close at end of trading week at +30 pips
PC, since the London was your original concept, I like the idea. Moreover, it might be worthwhile openening a second demo account dedicated the NY this way, we can see how each actually does on their own over time.
I’ve also had multiple instances of 2 identical trades using FXCM MT4 Demo account. Tried changing magic number to no avail.
Does anyone use Oanda and lives in the UK?
Pipcompounder, I have been following your thread for a while. I do not use mt4 at the moment but manually set my trades using my iphone when I’m at work. I have been playing around with different things and I found that most of the times after making a win on the London trade, the NY trade would wipe my win. So this is what I do now: I trade both the Eur/Usd & Usd/Chf only in the morning
For the Eur/Usd I place my orders as normal just before 9am gmt, I set my orders at 5 pips above the high and 5 pips below the low of that candle, however my sl is 20 pips and my tp is 30 pips. This way if one gets stopped out and the other hits tp, I would be up 10 pips.
I do the same on the Usd/Chf with the same plan, now some may ask why this pair, well the Eur/Usd and Usd/Chf have a negative correlation, when the euro goes up the usd/chf tends to go down. So during January I set up the trades and the Euro landed me 310 pips, the usd/chf landed me 140 pips. There were a few occasions when I was down on the day, but when the euro orders were hit, pretty much straight away the Usd/chf orders were also triggered.
During January I traded 23 days and out of 23 days there was only one day where both trades came in at a loss and that was 60 pips, but on 6 of those days both trades hit full tp of 60 pips, other days varied. I just thought I’d put my findings out there, as your initial thread is what has helped me to this level.
Shaf
Hi Shaf,
Thanks for sharing you strategy. I have been doing a similiar setup with London! 5 pips above and below the 8.00 GMT H1 candle. TP at 30 but SL at 25. I will take a look at USD/CHF.
Thanks again.
drb.
Help my alpha 5 dont run! I was using london breakout all the while so i wanted to try alpha 5 since its the latest version but i found that it does not have any trades AT ALL? How come like that? My london already have many trades done already but not one trade on alpha. Both using same broker
im using oanda but i leave in sg
Morning Guys,
I’ve tried Today the EA in Armada Markets LIVE account and it failed to open any positions when price broke through the buy level… In their demo account I had 5 entries sent by the Ea…
Could it be because the Ea wasn’t on until AFTER the reference candle had formed…? (****! I was late)
I saw somewhere in the thread that the EA had to be running all the week non stop…
Why can’t it be activated BEFORE the reference candle forms? and switch off a the end of trading day?
It seams a good idea to test separately the london and NY strategy…
I can try different brokers of course, but why doesn’t it work with Armada…? (My EA’s “IsECN” setting is set on true)
Sorry that I’m only questions… Not many answers coming from my side :33:
Let’s see what’s up with today’s action
My EA always only start having trades after 5pm SGT Mon. Even though i on my com and EA on the previous night before i went to bed… Maybe somewhere in the code we can change the time.
The EA is designed to be left on all the time. It will automatically close any orders left open from the session before when the next same session starts, 24 hours later. It will close all orders before the market closes on Friday’s, so you don’t have to worry about trades hanging over the weekend. And it has a basic money management system, so it’s pretty much set and forget, which is the idea.
~Shaf, thanks for your interest. Congrats on the pips.
Looking back at January, it does seem a bit bigger buffer would have saved some losses on the London idea.
I am adding to testing having the London session basic idea with the 1 pip more on the buffer above and below the ref candle, so 4 pips above, 2 pips below, and 55 pip TP. There were a few trades in January that went up to 57 pips, just missing 60 pips, so I reduced the TP down a bit because of that and spread and the extra buffer. I think this will continue to offer a better risk\reward, despite a few more losers. When we have a version (MT5 or whatever) that is better for backtesting, we can refine the buffer and TP further.
If anybody was testing with Finfx, don’t forget they are from now on 0 GMT server, so no offset.
Thanks PC for the clarification…
Is great that the EA can do it all alone… Obviously that’s the goal…
But I was wondering if to switch it on and off would make it to malfunction…? (I’m thinking why I had problems with execution) or it’s solely my broker problem…?
I’ll try different ones…
Just curious about the logic behind a different pip buffer above or below the ref candle…? Is it some conclusion after back testing… Robopip seamed to suggest in his blog that a 3pip buffer below would work better… But I guess you must have explored all theses possibilities…
Did you changed then to 55 pip TP from 30…? Or are you just back testing that possibility?
What about choosing the TP based on the daily average range remaining? (is it total non-sense…? Sorry if I’m dumb…!) But I guess that’s kind of impossible to back test…
Thanks again for your great work!
hmmm…well the London 60 pip idea had a weird event. I have TP at 55 pips, but the buy trade closed at +18 pips, at 1.3411, at exactly 17:00, GMT.
It seems like the pending order cancel also closed the open trade???
This 55 TP is additional testing, the others did fine, London won 30 pips, and NY lost the sell, open on the buy, coming within 5 pips of TP.
I finally got alpha runing buy it only start placing trades 2 hrs ago (tues 8am) is it normal?
Would like to ask how do i adjust the number lots to place trade? 30k units too big for my acc i got insufficient funds error
thank u in advance 
Hi, everything is explained a few pages back, all the settings and everything, please look at the respective post.
Alright!
London was good to us this morning. Both 30 and 60 pip TPs.
NY already half-way to target.
Hi guys…
Just to let you know that today with FinnFX I still have the issue of 5 entries each way…
The only different settings that I have is that I’m using MM option 1…
Any ideas…?
Thanks for your help
Sorry, I have no ideas, as long as you’re loading just one time on one chart.
On the buy order that ended too early on monday, the log said there was a command to close buy order at 0.00000 price.
So, there may still be some bugs to figure out, not to mention the sunday order problem.
Today’s London buy hit 30 pips, waiting still for 60 pips.
NY sell is still open.
Thanks Pipcompounder…
We’ll see if jonathan can figure it out…? Other wise I’ll just change the risk factor…
Wish Mt4 backtests were reliable…
From jan2007 to jan 2013, with 90% accuracy… alpha5 with 30tp… Would have brought 10k (3% risk) to 1.1M !!! in the london idea…
Shame the past doesn’t predict the future…!
Thanks again PC for your great strategy
