no fun.
g/j, sell 121.71, stopped at 122.00, -30, -30, -30
a/u, sell 1.0445, stopped 1.0475 -30, -30, -30
e/u, dodged a short entry by mere tenths, but wasn’t triggered on my platform
g/u, sell 1.5528, stopped at 1.5575, -50, -50, -50
e/u buy 1.2336, trades above 1.2400, tp +35, air taken out at 1.2375 +35. retrace taken out at 1.2350 +10.
edit 7:45 am: very strange day and i am fried at net -330 +80 = -250
if you were trading eur/jpy buy 96.46, we got tp at 96.75 +25 and reversed to be on the other two positions.
Wow huge volatility…Just as a side note, given the timing to see what others are doing. I always close out trades before headline announcements to prevent getting whipsawed at least one hour before the announcement and wait at least 1 hour afterwards before reentering any market especially if the strategy is using fairly tight stops < 1 ATR. What do others think in terms of headline announcements since obviously it can be very profitable if the announcements goes your way but then your just guessing…
something to consider. i believe there was a uk rate announcement at 11:00 gmt and the most volatile bar was the 12:00. this time, stepping out might have helped us on the g/j, but it looks like we were beyond help on the others.
Unfortunately, it seems our EA is still not perfect. My GBPJPY trade from 07/31 reached 2nd Air level and the SL was not modified by the EA. Checked and thought the code over again, I determined that while the EA seems to set the initial first jump correctly (when the first position TP is reached) but if price goes further in our favor, the SL is not “jumped” as required. Changed the relevant portion of the code, I hope this version works better but we need a to catch a good price movement to trigger at least two “jump points”.
Current version is 3.21 available here http://www.rpotor.com/forex/TTE/Daybreak-TT-OrderEntry-v3.21.mq4 please use this from now on, and test with this. I’d like to emphasize again that [B]the EA is still not proven to be working perfectly[/B] (as the above clearly demonstrates). Therefore [B]it is absolutely not recommended to use it on a live account[/B]. Again: [B]don’t use this EA on a live account yet[/B], until we thoroughly tested it and confirmed it working flawlessly.
Also, Godwin Igili, thanks, I received the code you’ve sent to me, took a look at it and its implementation of a trailing stop looks fine, however I don’t think I’ll add it to the Triple Threat EA just yet, at least until we confirm that it works in its current version and does what it was originally meant to do. Only after that shall I consider adding any more “features” to it. Let’s hammer out the initial bugs before we try to “upgrade” it.
fyi, i did not consider any news or other fundamentals to assemble the results section. if interested, i have posted an indicator on #167 which shows the news on your chart.
Well, that was fun. Suffice it to say, I gained a little and lost a little today. Overall, I am down this month around -460 pips.
Things got excited there and keeping up with that kind of movement on 3 pairs is, shall we say, uncomfortable. Moving the stops didn’t work out exactly but I also accidentally TP all three on the g/j, which worked in my favor. Although, I didn’t get the stops high enough to lock in the correct profit on that squirrelly e/u either. All-in-all, the -460 is about where I should be with the system.
I hope y’all had better luck than I today. Maybe even caught the 120+ downside on a pair. I have confidence that, in the long run, the system works itself out.
The only change I have been wondering about (other than trailing stops which are pretty much a different strategy) is maybe trading 4 trades instead of 3 and TP on 2 instead of one. I’ll look back and see how different things end up.
I have just noticed that, fairly often, the RETRACE gets stopped out before really giving price the wiggle room it’s designed to allow it. My thought is that doubling our near-term TP will help offset the SL when an entire trade fails.
Whereas, you lose on 3 when you are stopped out and gain on 1 if TP and your RT&AIR b.e. If you trade 4, you lose on 4 or gain on 2 in the same situations. I hope that makes sense.
This is the part that scares me the most. These orders get placed a full 10 hours before London opens. In testing, I’ve seen times where both sides get stopped out before the London market even opens.
That’s why I test the heck out of this stuff. The test shows that days like this happen, yet the strategy is still profitable.
I am curious though. Could the EA be modified to specify an Order Start Hour? So when testing a specific currency pair, I could put in 04:00 since that’s when I feel is the best time to enter my position on that exchange? It might be an interesting variable to back-test.
I have written the formulas for tracking two “what if” scenarios into my trade spreadsheet. One is doubling the base trade to TP according to system rules. The other is doubling the RETRACE. I will note how they work out.
So far, on the e/u today, it would have doubled the locked in profit in my open trade if I double my RT position and don’t move the SL until it hits its next mark. That is, I don’t move to +/- b.e. when TP is hit. I only move it when the next level is hit (ie: 1.2500, 12550, etc.)
I was taking note that, if played conservative, and I usually do, the RT positions don’t get the room to follow the tend as designed. Example: 30 july short of the g/j. The pair is in a consistent downtrend but was stopped early on
Yes, it would have been stopped out in todays volatility but I’d like to see it make 3 days to have that chance.
All subsequent entries of that pair have been short. This makes for a frustrating +,-,+,- pattern that is close to BE when it should, theoretically, be profitable. Very profitable.
Anyway just some thoughts and observations I have had. As always, all constructive input is welcome.
I find this discussion fascinating!! There are a LOT of variables to test for any given strategy. I sure hope that folks are using the same variables in live/test trading that they did in back-testing (I know that you are pipwoof).
I’m hoping to find the time to try out the following tests on July’s data. Not to see if it’s a profitable strategy, but to see what the variability is between tests.
EUR/USD, Every Tick, order’s placed at Beginning of Day (BOD) Server Time, can take both positions (BUY/SELL).
EUR/USD, Every Tick, order’s placed at Beginning of Market Open (MO) Server Time, can take both positions (BUY/SELL).
EUR/USD, Every Tick, order’s placed at BOD Server Time, can take only first position (BUY or SELL).
EUR/USD, Every Tick, order’s placed at MO Server Time, can take only first position (BUY or SELL).
EUR/USD, Daily Candle, order’s placed at BOD Server Time, can take both positions (BUY/SELL).
EUR/USD, Daily Candle, order’s placed at MO Server Time, can take both positions (BUY/SELL).
EUR/USD, Daily Candle, order’s placed at BOD Server Time, can take only first position (BUY or SELL).
EUR/USD, Daily Candle, order’s placed at MO Server Time, can take only first position (BUY or SELL).
i had several reasons to think this might be a good idea. i have said before, regarding some other methods i use, that if i’m not willing to get up for the london, i don’t do as well. i wanted to look at not entering our trades before london opened. that would be 7:00 gmt. i looked at the trades this way, considering i think this is the way rpotor’s ea might end up working anyway if we did this. if price had not reached entry point by beginning of the 7:00 bar, of course, enter if hit. if price was beyond entry point at that time, no entry. if price traded back inside the entry points, then moved to reach one, take the trade.
to look at one month by hand and be reasonably confident about the results requires me about an hour, so to go through 5 pairs for 18 months…you get the idea. i took time to look at gpy/jpy for jan '11 and july '12 and aud/usd for july '12. little difference for g/j last month. for g/j in jan '11, i had originally logged -1,290 +1,440 = +150. using this new idea -540 +1,110 = +570.
we had a good month in july and a/u led the way. i reported -210 +1,010 = +800 for the pair. using the london open idea -300 +1,210 = +910. preliminary and incomplete, of course, but my impression is that, while the idea misses a winner now and then, it also avoids a number of “sleepy hollow” entries where we are in and the price meanders back to our sl. there is no doubt that i proposed entering at a slow time. action usually starts with the london and that may give us an advantage.
no promises, 'cause i have some commitments out of the office, but i will try to get back into this and see how far my patience will take me into a month by month look. i won’t get tired if it keeps coming up positive.
if we want to consider this idea of entering at the london open, i think we will need to redefine our “day” to include prior day plus those bars between 00 and 6. otherwise, our day doesn’t end when the london begins and, in some cases like below we will already be beyond entry and miss the trade.
