I agree. But I was just thinking aloud here. As we know that we really get fried on ranging and reversal days. As you might notice, we have had very few one sided trending days. I wonder if the large moves would be enough to make a substantial profit. Maybe for someone who is hoping for about 20% returns a year it would be good,, but small time speculators,, it is not enough.
I dont know, I am still waiting for someone to make an EA. I tried to download the Gordago optimiser, but unfortunately, its not free anymore.
We need someone to make an EA. Hoping someone can make a basic EA for this. The rules are pretty simple and should not be very difficult.
Keris has done a good job for the indicator tho.
Maybe this system needs some hype?? LOL
I will wait. Thanks for your interest tho.
I opened a thread this morning with this idea that was given to me from a friend and I had no idea it was coming from money tech, sorry (.
Anyway I post it here again, the EA I did (not too well programmed) and my result (220% in 19 month), this was optimised for EUR/USD 5 Min June 2004-> feb 2006.
I am going to read the all thread again.
Hope this help.
What's your TP and SL? Do you use a TS?
Ok if you use the indicator I just posted above, you would have to use these parameters:
extern double Long_Entry_pdr = 55;
extern double Short_Entry_pdr = 45;
extern double Long_stop_pdr = 15;
extern double Short_stop_pdr = 15;
extern double Lots_Acc_Equity = 1;
extern double TrailingStop_pdr = 50;
extern double TakeProfit = 75;
extern double Slippage = 3;
Which mean buy at +55%
sell at -45%
Stop loss = 15% yesterday range
take profit = 75
No trailing stop
This is optimised system for EUR/USD 5 min (220% in 19 month)
for consistency you could use:
Which mean buy at +45%
Stop loss = 20% yesterday range
take profit = 70
This is for EUR/USD 5 min (105% in 19 month)
So far I must say this system has been working well Entry strategy is excellent. Not sure on an exit strategy yet. Just been placing 20 pip TP on Eur/usd, and 25-35 on GBP/usd.
An EA would be great. Definately this system needs more attention as its well worth looking into!
Thanks everyone for the interest,
My computer crashed a couple of days ago, virus and spyware attack. I have been working to get everthing back to normal. My metatrader wont go online as I am unable to open a demo account.
I will be back trying to post soon,meanwhile any of you know why I am having this problem, please help me out. This has never happened to me before.
It cannot connect to any trading servers.
Thanks to all of you
Please let us know when you are back onboard. I'm curious as to your exit strategies, as most of the time 20-30 pips seems to be an average limit on daily profits.
Yesterday and today were bad days for me - S/L was hit.
Anyways, are you still testing this radmoses?
I am back on board. However I am a bit dissapointed as there is no response to the EA which I was hoping someone would code. Same at moneytec where a similar thread has gone into oblivion.
There was 2 days of sideways range bound movement and sure enuff you would have got stopped out. Today looks like a good day for a breakout, so it might work today.
well, till someone codes a EA, it would be pretty hard to manually test this system and optimise it.
I am testing various systems presently and this system is in the background as there is very little response. I would have loved to see this system through and make something out of this.
Thanks for your interest though
It was very pleasant to me to know, that strategy of my favourite author Larry Williams are considered in this thread.
I have already started to write ЕА for this strategy.
interest is here
There are so many EAs to look at and try develop here, it is better then being in a candy store. Most chaps are just max'd out at the moment - but I'm sure this system is on many guys todo list.