your strategy has given one more signal but today it is enough coz i lost all of my trades so far ( 4 total) … i shall look for a signal tomorrow. i will be checking back here regularly. as i am sick of being the one of consistent losers. so i really look for a good strategy to stick it 
What pairs are you trading? I am trading the 8 pairs and I have had 4 that have opened and closed and with a loss of 41pips,
But on the other hand I have 5 open trades with a profit of +400pips. During the rally with the news release in the US, I removed the TP and set a trailing stop to get the maximum return.
So in total counting closed and open trades today, I’m +365pips.
Go to the myfxbook link on the 2nd page on this thread and you can see my real account details of these trades.
Have you made those adjustments on the account that is trading this system? If so, your test results have now basically become invalid since you’ve broken your own rules to get extra pips.
If there was an EA trading this, the EA would not have been able to make those adjustments.
Well done that you were able to get more pips…fantastic, however, if you are going to trade manually, you need to do it using a different account and use this one just for strictly trading your system.
Hi Jedster,
I’m not doing any manual trading, all the trades are being excuted by an EA on this account. I just changed the EA not to have a TP value, the trading strategy is still the same.
Althought a trading plan should be stuck to, I personally believe that as the market is continuously changing based on real world events i.e. new reports, wars, famines, etc, a trader should be able to adapt to these changes in order to maximise their trading potential, even if this involves breaking from their trading strategy.
For example, if my trading strategy has a TP of 100pips and a SL of 50pips, the trades opens and moves in the direction of the trade. Then there is a news release, the price is clearly going to continue in favor of the trade, you can either stick to your plan and take the 100pips, or you can abort your plan, move your SL to lock in 50pips, and either remove your TP to let it run while continuously moving your SL locking in more pips, or just set you TP to a higher level.
If your a beginner in the forex trading world then yes, stick to your tried and tested plan and gain experience for at least 6-8months before breaking from your strategy.
This would be possible with an EA, all depends on how it is programmed.
I agree about what you are saying, one has to alter trades to take into consideration real time events. That is called manual, or discretionary trading.
What I’m saying is, you’ve laid some very specific rules down and called it a particular strategy, given it a name, written an EA and set up an acount to trade it. Then, you’ve changed the rules of that strategy on the fly to suit some particular event. Lets say another event occurs tomorrow and you don’t the trade that was taken by the EA because of some news. Are you going to close the trade manually because you don’t like it? Maybe move the trade to b/e? The point is, you are no longer following the strategy rules as originally laid down.
You mentioned that all you did was set the TP to zero in the EA. Did you do that before the trade was opened or afterwards? If you did it before hand, then you weren’t following your strategy (how did you know to set the tp to zero just for that trade). If you did it after the trade was opened then you are manually altering the trade (albeit, technically, through an EA).
I’m going to make an assumption that you are ultimately planning to sell the EA. That is why you’ve taken onboard some testers and have set up the accounts to track the results. Of course I might be wrong about that, but with that assumption in mind, the results that you show in that account have to follow your system precisely. If I look back at that account in a month from now and see a trade with a gain of (say) 150 pips, I’m going to look at that and say, “how on earth did that happen if the system says set the TP to 100”.
Also, once you have manually adjusted the trades to suit the circumstances, rather than just follow your rules, people are not going to trust the results as they won’t know when you have or have not altered the trades.
The basic strategy is specific on the opening of the trades. Yes, it does give specific SL and TP values, but these need to variable for each traders in terms of risk & money management. There’s no point telling someone to have a stoploss of 100pips if their account doesnt have the balance for it. If a trade is lining up perfectly but a the trader know there is a new release happening that may affect the trade, they have to option to not trade or in the case of the EA, turn it off. Personally I don’t watch the econmoic news and looked into it when I seen the price move. In my case, the EA stays on and trades no matter what happens.
Once I seen the price move and I changed the setting via the EA, yes I agreed this is manual intervention, but there is no reason why a trader can’t manually change an EA’s TP or SL, it’s all down to the individual trader, the strategy for opening the trade is still the same, after that it’s a case of whether or not the trade opening was in the correct direction.
One of the tests has set his TP to 10 pips, and since this he has had 8 wins and 1 lose of 25 pips. He has also just closed a trade that didn’t have a TP but a trailing SL and it has closed +199pips. So yes, if you look back at my results you will see profit of +100pips on trades as the EA allows the trader to set their own SL and TP.
I am still undecided whether or not to sell this EA, so far for myself it has been quite profitable. The testers have had various trading results and I am working with them to improve the EA. If I am able to make money via the EA, I don’t see any need to sell it to make more money, plus support users, admin tasks, setting up and registering a business, etc.
No matter what, the testers will receive the final EA and support as a ‘Thank You’ for helping me test it. The reason for setting up a thread, trading strategy, blog, etc which just to give me the option.
Interesting comments. Look I understand what you are saying. Perhaps I am arguing over semantics here, and it is not my intention to argue for arguments sake.
What I’m trying to say is that, from an outside point of view, post 1 lays down a whole bunch of very specific rules. You entered the Forex Trading system of the month competition and said you have an account specifically to track how that strategy works. You then actually reveal you are only using the original strategy for entry, and are exiting based upon your discretion and a bunch of other factors including experience.
People new to Forex will see the first post, set up the strategy and won’t understand why they can’t achieve the results in your account. They will have seen many people saying “stick to the strategy, don’t change it, etc etc”. But here you are apparently doing just that, and they won’t understand.
Perhaps you should be indicating that those test accounts haven’t followed the strategy as stated in the first post and you have used your discretion. Or, show which accounts have followed the strategy precisely (and which haven’t). Newbies in particular will then stand a better chance of understanding what is going on.
Good luck with the development of the EA, I hope it works out.
Just a quick to add that the account is well labelled that it has an EA attached to the account. EA and manual trading are two completely different kinds of trading techniques.
Also in regards to any manual or automatic trading, any previous results are not indicative of future performance. That’s just a given.:19:
Currently sitting with +600pips in open trades.
Last trade to open was last night
USDCAD
SELL
Open: 1.00502
SL: 1.00602
TP: 0.99702
i envy you
This look very interesting and promising! I will wait for further testing and result, but so far so good 
Malouin
Im trying it out now as week speak, looks very good so far.
Simple and stable is what i perfer
On your second entry i can’t see why you entered? you should enter it later becouse previous low was below MA. Can you explain that to me?
Yes you are correct it should have been on the next bar. Misplacement of the arrow on the chart.
that trade is then a loss or?
If you are going ‘strictly’ with the strategy and sitting in front of the computer scanning all the pairs to get the opening 100% correct you may drop about 5pips, but if the strategy was followed since the beginning of the week, that would be a meaningless loss of 0.75% this week as the strategy brought in 664.2pips the week which can be verified on my real account @ https://www.myfxbook.com/portfolio/thesilentsniper-v2-real-account/227967
I currently have a number of people looking for the EA version of this strategy as well as they have manually backtested and found it to be a highly profitable strategy gaining any thing from a constant 10pips up to 200-300pips on some trades.
Forgot to say there is still 250.4pips in open trades so based on the pip equity that’s 664.2 + 250.4 = 914.6pips this week, that means the 5pip lost that you have flagged up on my demo chart will be a pitiful 0.54% loss, in my strategy that’s nothing!!! :35:
With trailing stops every strategy can make those profits, if you follow the rules. Especially if you trade 8 currency pairs
Only 2 trailing stops were used on 26th, no other trailing stops were used in the system as it’s not specified in the 1st post outlined in the strategy, even at that, it was only 100 extra pips that I took, could have done better as the trend kept going.