No, because sometimes the trade is below 2R and it’s ok. We only want to stop trading EUR/JPY if the markets start consistently giving us trades under 2R every week.
There are a few < 2R weeks scattered around through the normal weeks that don’t hurt anything.
Also, the trade might be 2.1R after 3 months of < 2R trades, and we wouldn’t want to trade that either.
I think that’s a great idea! I wouldn’t just use it for this system but for all my trades.
I use a spreadsheet for my lot size calculations right now. It’s not really hard to do it that way but an indicator would be easier. 
Phil
I looked back through your test data on gbpusd and noticed you didn�t take trades when the range was at 197 and 214. The next highest range was 147 with a R:R of 2.89 and the trade was taken and it was a winner.
Do you think a good rule to apply would be take the trade if the range is up to 150 pips and R:R is above 1:1? If the range is above 150 pips, then don�t take the trade regardless of the R:R.
Also did you have any thoughts about when you should stop trading the system. I recall someone mentioning that your data showed a drawdown of up to 7R. This seems quite reasonable and I reckon I could handle double that before I stopped. Do you think this is a reasonable conclusion?
Regards
Sean
Hi Sean,
I think that’s a good rule-of-thumb. I’ve never really written out an “official” rule on it because it just doesn’t happen very often (I think it happened 3 or 4 times over 5 years of backtesting). Basically if there is a unusually large Sunday candle I won’t trade that week. It’s never happened to me since I’ve been trading live, though…
For those of you that haven’t noticed what Sean’s referring to, there are some extremely rare weeks when some news event or something else causes the Sunday candle to be HUGE. A good example is Sept 8, 2008. The Sunday candle was 197 pips, where 30-50 pips had been the norm for the few months before that.
I think your idea about when to stop trading is reasonable, but I’d even go a little lower. 7R is the longest losing streak I’ve ever had, and if I ever had a 10R losing streak I would start looking into what was wrong and start considering changing or abandoning the system.
Thanks for your reply phil. You’re right about the third trade which would come as a result of price spikes canceling the first two.
From your excel document, your trading system seemed to give an average of over 100% profit every year. I would really like to know how much percentage increase it (ie the GBP/USD) has given this year (january till now). I already know that of the EUR/JPY as 87.??% or thereabout. Thanks again
My calcs show 83% return since 11/1/09 on GBPUSD. This is based on 2% risk and weekly profits/loss not adjusted as part of the 2%.
57% losers
16% BE
27% wins
My rules are modified so that I don’t take a second trade if the first trade reaches BE. I also don’t take the second trade after Tuesday ie after the 20:00 bar.
Would be interested to see how this compares with if others.
I’m sure this is of absolutely no use to you but hey 
(Calculated) 40% return since beginning of May on GBP/JPY closing at 3R at 2% risk.
[B][U]Position Sizer.zip[/B][/U]
Download here:
http://forums.babypips.com/133505-post986.html
ETA:
next step for this position sizer would be to place the orders for u by hitting a button (after you have setup your entries)
does anyone know if mt4 has any interactive command box or things to interactive with the user? or is there any EAs that does this? Pls post it up with code, and I can figure it out.
Thanks,
couldn’t find a command button for user to click to enter into the market
walkaround:
what do u guys think?
[B][U]Position Sizer EA.zip[/U][/B]
Download here:
http://forums.babypips.com/133505-post986.html
This is great but could you back test this further to maybe 2004 and see if it’s consistent? thanks
This is great! You should make a new thread for it. There are a lot of people who would use this but don’t trade the Sunday breakout and will never see it here.
Hey phil,
Still waiting to hear from you to know how much (in percentage profit) your strategy (sunday break out) has yielded this year on the gbp/usd.
Thanks
G/U making some big movements Its quite tempting to jump into the market. If I didnt have this system holding me back I think I would be wasting away my account on these shorter term trades.
I have gotten some pips from the short side, exited at the other side of the trend line
[B][U]Daily Chart[/U][/B]
I am thinking of setting a trade for the long side, using a GMT0 chart, u can see inside bar?
if using a GMT2 chart, u can see a pin bar
Sorry, I must have missed your question the first time around.
I’m not at home right now so I can’t see my updated records, but 3-4 weeks ago someone asked this question and as of that day I’d made 31% with the system so far this year.
That’s what I personally made, but I missed a few weeks of trading on occasion. If I’d never missed a trade it would have been a bit over 40% for the year.
I’ll look up and post my current results when I get home over the weekend…
I haven’t tried it out yet because there are no trades on the horizon, and it might already do this, but if not a good feature would be to automatically replace the yellow label after the trade closes. Then you wouldn’t have to remove and replace the EA to take another trade.
But like I said, you may have already though of that.
I am trying to find out the sunday candle. It seems that the metatrader is not displaying sunday candles after 09-08-09. I am using interbank fx demo account. Any suggestions ?
EDIT: multiple servers are available on ibfx. I chose the wrong server. I have corrected the issue:)
It looks like your data has gotten corrupted somehow… Both my IBFX demo and live accounts have Sunday candles after the 8th.
It’s not just your Sunday candle that’s missing… Your charts look entirely different than mine!
I really don’t know what to tell you. Maybe erase the history folder in your MT4 installation and reinstall MT4?? 
