yeah, i can believe that, especially when i see a friday like this that starts at the bottom and ends at the top. makes it hard to get a short signal and you have to be suspicious of the long because the move may have exhausted. we could have had more of that friday move if it weren’t for that rate decision wick on thursday.
thank you for your interest and the work you have put into this. i will get it onto a chart and see if i can understand.
My trades for today LondonbreakEA at buy at loss as follows.
gu buy at 1.5667 Stop at 1.5626
Au buy at 1.0580 stoped at 1.0550
Gj buy at 123.14 stopeed at 122.75
Ej buy at 97.50 stopped at 97.25
EU buy at 1.2402 stopped at 1.2375
godwin, be sure you see my posts at 359 and 360 on these matters. thanks.
no entries triggered yet, but we are poised.
g/j, buy 123.04, sell 121.71
a/u, buy 1.0593, sell 1.0534
e/u, buy 1.2429, sell 1.2339
g/u, buy 1.5653, sell 1.5544
e/j, buy 97.69, sell 96.67
I am getting completely different result then what you posted. May be you are using too much “judgement call”… 
I am thinking to add this - whenever pair trades near to weekly/monthly pivot then tight SL to nearest quarter or BE.
Dineshydv. Your EA reopens orders
Hi Thanks for that response PipWright,
I am sorry for the late reply, I have been busy lately.Appreciated for your DBTT Zip. ITT seems profitable for me, but try not to be so greedy. My entry for A/U SHORT (ITT 7/8/12) @ 1.0593 and TP @ 1.0575 (reached), 2nd & 3rd position closed @ 1.0575 (being greedy is bad, just my 2 cents). A/J trade was triggered BUY @ 82.53 (ITT), TP @ 83.00 (reached), 2nd & 3rd still open positions (will manually close the trades, as I said being greedy is bad).
Yup, Pipwright. We have to strictly follow our trading rules. I am really admired to Mr. Livermore. Although Mr. Livermore died in 1940, but His concepts still applicable.
What do you mean by reopens.?? My EA goes long on yesterday high and short on lows. But it opens long/short only once.
E.g if price moves above yesterday’s high, EA will open long. If SL hit and price moves below yesterday’s low, then EA will open short trade. And thats how its meant to be. Isn’t it.??
three entries hit, a/u, e/u, and g/u, all long.
edit 6:10 am. looks like the euro has already turned himself in for the reward, -30, -30, -30. london entering at 7 would have taken the same loss.
had your ea on a demo e/u today. seems to have entered long at the right place, 1.2429. only entered one position, no sl, no tp.
Nice stratergy mate, I will backtest and see the merit of this system.
Keep up the good work.
I have downloaded his book and read it. As he was wildly successful in trading, I am going to study his methods. You can download it from the wikipidia page about him. Quite interesting.
i read a comment in a post today saying august was known for being hard to trade. i’ve had some problems in december and january in the past, but didn’t remember august being especially difficult. i did look back at last august for db/tt. the original portfolio showed over +1,800 and e/j would have added another +300. maybe last august was hard and this month is supposed to be easy. so, we’ve got something here that’s good in bad times. we can rename it, “hard times trader.”
well, here’s the score to date this month and i will continue with this so we have another baseline period for comparison.
gbp/jpy
8-1, sell 122.20, -30, -30, -30
8-2, sell 121.71, -30, -30, -30
8-3, buy 122.61, -15, -15, -15 *
8-6, sell 122.62, +35, +35, +35
8-7, buy 123.04, -30, -30, -30
8-8, nt
closed trades: -315 +105 = -210
aud/usd
8-1, sell 1.0474, -25, -25, -25
8-2, sell 10445, -30, -30, -30
8-6, sell 1.0543, -10, -10, -10 *
8-7, buy 1.0593, -45, -45, -45
8-8, sell 1.0531, -20, -20, -20 *
closed trades: -390
eur/usd
8-1, buy 1.2330, -30, -30, -30
8-2, buy 1.2336, +35, +35, +10
8-6, sell 1.2371, -5, -5, -5 *
8-7, buy 1.2429, -30, -30, -30
8-8, sell 1.2374, be, be, be *
closed trades: -195 +80 = -115
gbp/usd
8-1, sell 1.5623, -30, -30, -30
8-2, sell 1.5528, -50, -50, -50
8-6, sell 1.5617, +40, +40, +40
8-7, buy 1.5653, -30, -30, -30
8-8, nt
closed trades: -330 +120 = -210
eur/jpy
8-1, sell 95.74, -30, -30, -30
8-2, buy 96.46, +25, be, be
8-3, buy 96.98, +25, +25, +25
8-6, sell 97.12, +25, +10, +10
8-7, buy 97.69, -45, -45, -45
8-8, sell 96.81, -20, -20, -20 *
closed trades: -225 +145 = -140
five pair portfolio august to date: -1,065
- judgment call affects outcome
Read more: 301 Moved Permanently
Its strange. It worked fine for me and placed right SL and TP. Did you got any error.?? It tracks order by ordercomment(). E.g. TP order has “TP” as ordercomment, AIR order has “AIR” and RETRACE has “RTRCE”. If your broker doesnt allow ordercomment then need to change the tracking to magicnumber.
To open 3 position you need set below 3 parameters to true. By default only Trade_TP is true.
// Below mainly for testing individuals trades
bool Trade_TP ( trade TP trade )
bool Trade_AIR ( trade AIR trade )
bool Trade_RETRACE ( trade RETRACE trade )
Hello all! I recently stumbled upon this thread as well as daybreak and let me say, Pipwoof, that I believe you have done very good work here. The system is simple and easy to understand-especially for a newbie like me-and it looks to be doing very well. I do have one question though. I went and downloaded IBFX and opened a free demo account with them, so you would think that since you and I are operating off of the same platform (and in the same time frame) that my daily highs and lows would be the same as yours. The last few times, however, we have had significant differences in our entry points. For instance: your g/j entries were 123.04 for buy, and 121.71 for sell. I entered 123.25 for buy and 121.76 for sell, and when I check the candlestick from 8/7, it lists the high as 123.24 and the low as 121.77. Any idea where our divergence could be coming from?
Thanks so much in advance for any reply you give! I really appreciate the work you and everyone in this thread has been doing.
i think this time situation is difficult for everyone. what i see in your numbers is exactly right, but we may be getting confused on what day to apply them to. i am in the central time zone. at 7 pm, my time, on aug 5, my date, ibfx began data feed for 00, their time, and aug 6, their date. so, while it is still sunday night for me, it is the beginning of monday for ibfx. hope this makes sense, but i won’t be showing aug 6 for another five hours. but, we don’t use my time and date or your time and date to base entries, we use platform time and date. platform high on aug 6 (see chart below) was 123.039 which was set on the opening bar, 00. that means a long entry for aug 7 will be 123.049. this entry mark will be valid as ibfx begins their new day, aug 7.
then, on aug 7, ibfx shows a high of 123.247, established on the 16 bar, which means the long entry stop for aug 8 will be at 123.257. i am showing the tenths here because rpotor’s order entry ea actually gets it to tenths, but don’t show the last digit when reporting results.
we are holding our breath as the system takes heavy losses in august. we have to give it time to right itself, but will be watching closely. systems fail because markets change. only time can tell us if this is a drawdown period or a failure. in any case, it is time to be trading only on paper or demo.
Thanks for the quick response, Pipwoof! I am also in the central time zone, so I too set my entries for the day around 7pm, as it is the start of a fresh day for IBFX. I think I may have bugged you here for nothing. The entries for my last post would be the ones for 8/8 (placed at around 7:30pm last night). I may have just seen your posts for the previous day’s entries, rather than the entries for the current day, which would mean that everything is working as intended, and I actually am entering at the correct positions. As far as the system goes, I think it will probably do just fine. After all, it is only the 8th of August, so it is a little ambitious to believe it might already be a losing month. At the same time, every system has its drawdowns, so a bad month or two is inevitable. I guess it COULD be possible that you discovered a system right as it reaches the end of its tenure, but that would be some pretty heinous luck!
well, i’ve had some bad luck in my time, including systems that fail right after i go live. heh. not often, though. if a method has a good established record, i actually like to give it at least three months to correct a drawdown. during that time, i will be reducing trade size or going back on paper. i like to watch the equity curve on each pair and the portfolio overall. db/tt has hurt my feelings, but i’m not ready to kick her out of bed yet.
thanks for the support and glad we got that time issue worked out. best wishes.
Hi pipwoof,
Here is i have given what i have understood about your system, Please reply me if i am wrong!
Buy @ yesterday’s high +1 pip.
Sell @ yesterday’s low -1 pip.
For Monday trades, Buy at yesterday’s high plus 11 pips or Sell at yesterday’s low minus 11 pips.
I buy 1+1+1 lots at yesterday’s high + 1pip , placed same s/l for all positions. Placing t/p for all 3 positions with 3 different t/p.
Sell also done from yesterday’s low -1pip
Please reply me what i understood is correct?