Crap…could not attach the htm report.
Oh well…
Uploaded it for all.
hope this is useful for the rest of you.
nivlek78.com/StrategyTester.htm
Happy trading everyone and may you have abundance and success in 2010.
[I]NOT your EA.[/I]
Got that. My bad.
My EA is here for everybody to look at in source code, test report and graphs. Until now you came up with wrong assumptions about my code, but nothing left. 
Just waiting for a trading journal or something like that. Any proof. Otherwise I assume it is what it always is.
Have fun! 
Okay, now you came with a report. Did you recognize the other SL and TP settings? You also altered my own Signalcheck variable. Put it in on my own. Nothing in this thread before. Just for a short overlook. And a lot of chart errors. You can for sure any EA tune to a specific time range to become profitable like that. Plus if you want compare two EAs, you must put in the SAME settings, don’t you? 
Trailing Stops has nothing to do with signals. Thats mm. I call it gambling strategy. Nothing wrong with, but to be precise here.
At least: I would be the last guy on this planet to not welcome a strat that would show me a better than 50:50 signal. That’s why I tried this signal and invested some time. Can you come with that? Alter the SL and TP to the same value and letz look at it. Otherwise, I stick to my own strats. Money matters here. Not ego.
Okay you guys, and all following the strategy posted by xtraction, here’s the deal.
I had my words, and him and I weren’t pals by any stretch, [B]BUT[/B],
you have it wrong.
What is the title of this thread?
Forex Store.
What did he keep posting?
Sales.
He didn’t trade every cross, he waited until something was undervalued, and then watched for the buyers to step in.
When that set of circumstances met up with a cross of the weekly open he bought in long.
The results would be somewhat predictable I imagine.
An undervalued currency can move up rather explosively.
Couple that with smart money management, and you got a winner.
Not every time I’m sure, but probably far better than 50 percent.
Nice post.
To be fair what Buckcoder did was test the validity of the signal itself excluding the exceptions & arbitrary factors involved. And it turns out that the signal was not all that flash when compared to a simple technical one. Because it’s that situational, ‘onsale’ and exactly which crosses you’re trading are ‘as arbitrary as it gets’ (okay so I said that in an earlier post but I regret phrasing it that way, given that it’s almost offensive) which means it really isn’t all that simple to apply after all hence the whole ‘deceptively simple’ point I was bickering about (also could have put that one better in my first few posts way back when it all started) despite the whole emphasis on simplicity. The lines may be easy to draw and it may be easy to use a weekly chart to see a relative oversold factor but it’s not simple pick which signal you’re going to take based on the cross & it’s not exactly defined/simple on how you’re going to manage that trade after that even though he did state it was meant to be a price how-to-do system so on and so forth
But yeh I do agree it’s probably one of the better ways for a completely fresh beginner to get orientated with dominant flows/PA, at least I know I would have appreciated it when I first started out (not that I’ve come that far since then) even if it was just to come to terms with a longer term dominant flow without getting confused about which trend on which timeframe to be following
Thanks nev, that’s the whole point. I never said this can’t be profitable over statistics. I don’t believe it right now, but that’s my opinion. [U]The backtest shows that this signal in it’s simplest form (like used took it), mm kept out of the game, is not a winner.[/U]
There is a known thing which I kept private until now: My EA has already some variables to add a discount and some other entry tune logics. Even that did not show up a good deal with the suggested 10 pips sl in the first place here by xtraction.
Do and change the EA to your needs and if you get it profitable in the long run, hallelujah! I can only warn people to use this EA and guessing they could win, even if they win in the first trades. If the markets move, the loss might set in. The graph of the backtest above shows this. There are a lot of good visible drawdowns and the line at all is not straight. It was also tuned for big pockets and uses my additional logic. So, this backtest from nivlek78 is not a signal check. So, there is NO warranty that this will win in the long run over statistics.
If you compare the graph above from nivlek78 with my best bit pet: The graph of my EA shows an almost straight line bottom left to upper right. No matter if the filter sets in or not. My very own EA also takes NO input parameter for the signal and has at all only one parameter for the sl and everything else is calculated “naturally”. That is how an EA should come out if you don’t want to analyze the markets and only use the EA if you guess it could be right. But even that I would not put on my real account until the demo shows some sort of correlation to the backtest. My opinion.
If you all want yourself doing some good: Stay away from throwing money after illusions and check things twice or more before investing a cent.
Have a good one, all!
Couldn’t have been said any better.
What is the debate about?
One of 2 things happen:
- price crosses the weekly open and keeps going
or
- price crosses the weekly open and then crosses back.
xtraction never mentioned anything about an EA.
Short at the weekly open because the daily open was above.
good point. it either goes up, or it goes down. very profound. 50:50
Assuming the probability is 50:50 is a common mistake.
yeah, but knowing when it isn’t is the tricky bit.
Going with the daily flow seems to work more often than not.
& the EA (or the author) didn’t conclude anything about xtraction or his system apart from that the daily/weekly signal rule alone with no exceptions doesn’t work very well for a 1:1 or 1:5 (with a 10 or 50 pip stop loss) R:R - as a breakout & discretionary sort of system those results don’t have too big a deal of relevance - can’t really say none at all though
Found that incredibly funny for some reason lol. I dunno if it’s a common mistake that anyone assumes it other than on a superficial level but I bet it sure is common to assume that some systems will tell you much more about price than 50:50 (or that it’d give you much of an edge in making a profitable decision more than that ratio)
Doesn’t it look like the buyers started buying?
More likely it means the sellers are a bit winded, and need a break before they start up again.
According to xtraction, it is all about the buyers. Sellers can’t sell if no one is buying. Makes sense to me.
Don’t you think the EJ buyers are smelling a bargain?
Doesn’t matter what the EA or back test says, xtraction showed how to make money using the weekly open.
Smart buyers also play the game the other way;)