[B][/B]1. Introduction, explanation, examples and results: Posts 1 & 2
2. Chart example, detailed trade step by step: Post 7
3. Using judgment to depart from strict rules: Posts 17, 69, & 108
4. How to define “day,” platform and results differences: Posts 5, 31, 123, 137, 148, 149, 152, 155, 157, 164, 194, & 195
5. July summary of all trades, posted for comparison: Post 208
6. Demands on personal life to trade the method: Post 83
7. Indicator, Forex News Market Clock: Post 167
8. Re-entering trades that are stopped out: Posts 111, 113, 247, 255, 259
9. EUR/JPY, results for a new pair: Post 115
10. EA & RPOTOR: Posts 89, 93, 94, 100, 106, 107, 159, 160, 166, 172, 175, 178, & 200
NOTE: The latest version of rpotor’s order entry ea is v3.21 and is available at this link: http://www.rpotor.com/forex/TTE/Daybreak-TT-OrderEntry-v3.21.mq4
Instead of typing 40 strings of trades im going to post overall results. (To date) note: this is on eur/usd, Gbp/jpy, Aud/usd
TT total: -466.2
TT w/ base x2: -441.1
(Where 4 lots are traded and 2 of them TP instead of one)
TT w/ RT x2: -786.3
(Where 4lots are traded and 2 run as the RETRACE)
I suppose I could make another column and track a strategy where AIR is doubled too but I figured the results are more exacerbated by the RT because it’s more of an extreme. When we catch a trend it’ll be neat to see what happens. I do like that this system will catch each trend and strong moves.
Hmmm, that’s strange, because the EA identifies the orders belonging to it by its magic number and the long string of numbers at the end of the order comment. Soooo, it [B]should[/B] manage trades no matter which version placed it. I’ll look into it, but at the moment I don’t know what possibly could be the bug here.
I was curious. So, I set up my trusty dusty spreadsheet to track our results exactly opposite and went back through the previous weeks data. note: this is for pairs: a/u, g/j, e/u.
Totals:
ITT = -12.7 (Aud/usd +246)
ITT w/ base x2 = -72 (g/j was the only loser)
ITT w/ RT x3 = -14.6 (g/j was only loser; a/u +317.4; e/u +149)
I was just curious about how this would result if our trades were inverted, as I watched trades consistently go in the opposite directions this week.
Obviously, g/j is too trendy to use this inverse TT technique. Maybe it would be good on pairs that tend to range? Usa/cad maybe? If you could do this and still figure out a rule to still catch the trends and power moves, it could be deadly.
I’ll continue to track its progress as its now automatic on my spreadsheet and requires no extra effort. I’ll post its results for comparison and ponder how to make a successful hybrid (without being able to hedge).
I know it may be confusing in the thread but my thought was to manually define ones own day by using 1 hour bars. This has the advantage of making it broker time independent and perhaps we can run the best period down statistically based on 1 hour bars rather than daily. ie. I could start my “day” at GMT 0800 hours and close all pending at GMT 1800.
The London Market opens in the summer at 8AM which is @ 0700 GMT. Did you really want to define your “day” to begin one hour AFTER the London market opens?
I was also thinking to avoid trades getting stopped out before commencing the London session. So I decided to demo trade daybreak from 1st of August in a pre determined time period which is preferable by me (I like to call this deviation as [B]London break with TT exit[/B]).
I also started trading live, with a $300 micro account in 0.01 lots with the original [B]Daybreak with TT exit [/B]with effect from 1st August and so far the result for first 2 days is [B]-741 pips[/B]. $300 is left with $219.04. I will continue trading with the original strategy till my account gets wiped out(not expecting). It is required to earn minus pips more than 2500 to get the account wiped out.
Meantime, I was also trading [B]London Break with TT exit[/B] in demo account for the same period with same data and the result is[B] -355 pips[/B].
Here the rules I am adopting for [B]London Break with TT exit[/B].
Entry and Exit rules are same as Daybreak with TT exit.
Pairs traded are EUR/USD, GBP/USD, AUD/USD, GBP/JPY and EUR/JPY
Enter on trades only between [B]8.00 GMT and 17.00 GMT[/B]. (This time is found preferable for this strategy- Also the initial hour of London session is pretty volatile due to ending of Asian session. Hence I prefer 8.00 GMT for commencing the trades. )
Place Sell stop/Buy stop orders if the price at 8.00 GMT is above/below previous day Low/high
If price is below/above previous day low/high, then wait for the price to retrace back and go above/below previous day’s low/high by [B]10 pips[/B]. Place Sell stop/Buy stop orders after getting the price above/below previous day low/high by 10 pips. [B]If the price won’t go by 10 pips, then no trade.[/B]
Cancel opposite direction order, when an order get triggered. (i.e., Cancel buy stop orders after getting Sell stop orders for the same pair triggered. Similarly, cancel sell stop orders after getting buy stop orders triggered. [B]It is my personnel choice[/B])
Cancel all the pending orders which are not triggered at 17.00 GMT
Place a new order in the direction of an existing trade, only if the existing trades are locked in profits. (i’e., If you are already having an open short position of GJ triggered from previous day(s), then place new sell stop orders for GJ, only after getting the open position locked in profits. If the open short positions are still not locked in profit, then don’t place any further sell stop orders.)
[B]Defining a Day
[/B]
There is no confusion as I am using Hot forex data for my entries. The brokers day ends at 21.00 GMT. Previous day candle closes and new day candle opens at 21.00 GMT. [B]21.00 GMT is considered as the closing time of Newyork session. Also Newyork closing is internationally accepted as the end of a trading day and start of a new trading day.
[/B]
Hence the entries are not restricted as the trading time starts at 8.00 GMT which is after 11.00 Hours of previous day close.
So far the results from 1st August are
[B]1. Daybreak with TT exit (Live account) -741 pips
London break with TT exit (Demo Account) -355 pips
[/B]
I will continue posting my results on both accounts and let us together continue our efforts for filtering out some bad trades.
08/02 details
GBPJPY BUY expired
GBPJPY SELL -50/-50/-50 (stopped out at initial SL)
AUDUSD BUY +33/+1/+1 (First position reaches TP, Air and Retrace positions stopped out near BE)
AUDUSD SELL -30/-30/-30 (stopped out at initial SL)
EURUSD BUY +38/+14/+14 (First position reaches TP, Air and Retrace positions stopped out near BE)
EURUSD SELL +41/+16/+16 (First position reaches TP, Air and Retrace positions stopped out near BE)
GBPUSD BUY expired
GBPUSD SELL -47/-47/-47 (stopped out at initial SL)
GBPJPY SELL from 07/31 finally closed at +46/+46/+46
Orders for 08/04 (I did not place the orders for today when the daily candle opened, but instead waited till the morning (my time) and placed the orders 2 hours before London open). All orders are pending now (@ 10:46 GMT right now)
GBPJPY BUY @ 122.604
GBPJPY SELL @ 121.121
AUDUSD BUY @ 1.05802
AUDUSD SELL @ 1.04337
EURUSD BUY @ 1.24049
EURUSD SELL @ 1.21322
GBPUSD BUY @ 1.56788
GBPUSD SELL @ 1.54885
Running total of results
07/30 -99
07/31 -318
08/01 -573
08/02 -69
I like this modification to the basic strategy. I guess the EA needs to be modified big time to accommodate these rules, but it is promising to see that it cut in half the losses of the previous two “black days”…
as the cat who got romantically involved with a skunk said, “i think i’ve enjoyed all this i can stand.” one trade g/j triggered for another loss this week. non-farm payroll report on the way. i am standing aside to avoid further abuse.
Today’s losing trade on GJ was also triggered before London Session. Any way, I am on the way, waiting grand father of news (NFP) with the bouquet of orders.
