FXiGoR DYNAMIC Breakout system on Daily Average Range - page 10
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Thanks Kevin and fotovat.
One precision, to avoid a common mistake for those new to backtesting:for the entry of the first trade, don't look at the High/Low of the day between 0000 and 2359. This would be looking into the future. In real life, when trading the DBO, the High/Low of the day is of course the High/Low of the day between 0000 and the current bar. Because when we enter the first trade, we don't know yet if the day will make a higher high/lower low.
Cheiser,
Lets assume that euro's average daily range is 100 pips. It opens at 1.2500. So you would have two options, to go short @ 1.2450 or to go long @ 1.2550. So now the day begins, euro races upto 1.2540 and then reverses down (your long entry was not triggered). So now 1.2540 is your day's high. So your short entry will be modified to 1.2490 (1.2540 - 50). In any case your trailling stop will be 50 pips.
Hope this clears your doubts.
Regards,
Kevinthank you ALL
Thanks Kevin and fotovat. One precision, to avoid a common mistake for those new to backtesting:for the entry of the first trade, don't look at the High/Low of the day between 0000 and 2359. This would be looking into the future. In real life, when trading the DBO, the High/Low of the day is of course the High/Low of the day between 0000 and the current bar. Because when we enter the first trade, we don't know yet if the day will make a higher high/lower low.
Thank you everybody, it looks like I am getting it right, piece by piece. I like this system and appreciate the help of more experienced traders. Wish everybody lots of pips.
aolsucks,
the second one is the correct formula. Remember, the dailylow and dailyhigh is today's low and high values that are established once the difference between them becomes equal to half the daily range.
Hope this helps.
Maji
Maji and herty,
Thanks for your time and your help
System for test
Hello Igor
Here is a version of your system for test.My friend to make this system no necessary to use your indicator..... At backtesting this ea not work fine.Please look the statement and test this ea and say me if is work equal your rules of trade.
If we need to modify .. please send me a reply...
Hey IGor,
Haven't seen the posting from you about the results for a while. The result for the last 2 days for cable are as follows:
For GBP:
16th oct - +23 pips
17th oct - + 62 pips
Kevin
Also, for 17th oct
euro = +13 pips
Swissy = + 20 pips
Yen = +10 pips
Also, for 17th oct
euro = +13 pips
Swissy = + 20 pips
Yen = +10 pipsFirstly, I want to Thank You iGOR for sharing this great system.
Yesterday, I started doing forward test of this great system. However my euro result is different than what kevmcfoster reported. For the euro, I got -8 pips, because I firstly I got sell position for EURUSD and then it reached its stoploss ( which is 30 pips ), because it came back up.
For GBPUSD is roughly the same.
FYI, I use FXDD as my mt4 broker.
kevmcfoster, I was wondering, which mt4 broker did you use ?
Regs,
popok_sakti