Need ea for System I am have developed

To add comments, please log in or register
wpaten
83
wpaten  

Hello,

Ok here's the system I have come up with. I have paper traded it and it has been successful over the past year for GBP/USD, GBP/JPY, USD/CHF, and CAD/JPY.

Buy Rules

1) Daily Charts with NO Indicators

2) If price has 3 consecutive days where the Close is higher than the Open, on the OPEN of the 4th candle, Initiate a Buy Order.

3) Stop is 2 pips below the previous candle, or 90 pips (whichever is lower)

4) Take Profit is in 2 steps...

a) Take half profit at 30 pips and move stop to break even

b) Take remaining profit at 100 pips

Sell Rules

1) Daily Charts with NO Indicators

2) If price has 3 consecutive days where the Close is lower than the Open, on the OPEN of the 4th candle, Initiate a Sell Order.

3) Stop is 2 pips above the previous candle, or 90 pips (whichever is lower)

4) Take Profit is in 2 steps...

a) Take half profit at 30 pips and move stop to break even

b) Take remaining profit at 100 pips

This is an easy system because it eliminates many factors that make the novice trader unsuccessful (overtrading, ignorance about how to effectively use indicators, etc.).

I found that MANY times the 30 pips was hit. The 100 pips take profit was hit but only about half the time. The key, however is to continue looking for a new setup once a trade has ended. What I mean by that is let's say that you enter a Buy trade and it is successful for 130 pips, and it continues heading up, YOU DO NOT RE-ENTER THE TRADE. You look for a completely new signal, which means that price needs to close Lower than it's open before you could look for a new signal to occur.

Out of the 4 pairs that I tested, GBP/JPY and GBP/USD had the best results (close to 1000 pips each for they year), followed by CAD/JPY with 600 pips, and then USD/CHF with 300 pips.

So if one pair is not setting up then another pair usually was.

Thanks for the help.

Candles
22
Candles  
wpaten:
Hello,

Ok here's the system I have come up with. I have paper traded it and it has been successful over the past year for GBP/USD, GBP/JPY, USD/CHF, and CAD/JPY.

Buy Rules

1) Daily Charts with NO Indicators

2) If price has 3 consecutive days where the Close is higher than the Open, on the OPEN of the 4th candle, Initiate a Buy Order.

3) Stop is 2 pips below the previous candle, or 90 pips (whichever is lower)

4) Take Profit is in 2 steps...

a) Take half profit at 30 pips and move stop to break even

b) Take remaining profit at 100 pips

Sell Rules

1) Daily Charts with NO Indicators

2) If price has 3 consecutive days where the Close is lower than the Open, on the OPEN of the 4th candle, Initiate a Sell Order.

3) Stop is 2 pips above the previous candle, or 90 pips (whichever is lower)

4) Take Profit is in 2 steps...

a) Take half profit at 30 pips and move stop to break even

b) Take remaining profit at 100 pips

This is an easy system because it eliminates many factors that make the novice trader unsuccessful (overtrading, ignorance about how to effectively use indicators, etc.).

I found that MANY times the 30 pips was hit. The 100 pips take profit was hit but only about half the time. The key, however is to continue looking for a new setup once a trade has ended. What I mean by that is let's say that you enter a Buy trade and it is successful for 130 pips, and it continues heading up, YOU DO NOT RE-ENTER THE TRADE. You look for a completely new signal, which means that price needs to close Lower than it's open before you could look for a new signal to occur.

Out of the 4 pairs that I tested, GBP/JPY and GBP/USD had the best results (close to 1000 pips each for they year), followed by CAD/JPY with 600 pips, and then USD/CHF with 300 pips.

So if one pair is not setting up then another pair usually was.

Thanks for the help.

This is the best method in forex-tsd!!!

Candles
22
Candles  

Preatty Good

Gbp\Usd Testing

From beginning of 2007 to today

2 lots:First lot close at +30,

second lot close at +100 pips

January:+190 pips

February:+190 pips

March:-20 pips

April:+550 pips

May:-280 pips

June:+550 pips

July so far:+150 pips

Total for the year:+1,329 pips

Candles
22
Candles  

Another

Gbp\Jpy Testing

From beginning of 2007 to today

2 lots:First lot close at +30,

second lot close at +100 pips

January:+650 pips

February:+450 pips

March:+190 pips

April:+530 pips

May:-100 pips

June:+710 pips

July so far:-130 pips

Total for the year:+2,300 pips

Candles
22
Candles  

Another part 2

Usd\Chf Testing

From beginning of 2007 to today

2 lots:First lot close at +30,

second lot close at +100 pips

January:+610 pips

February:+150 pips

March:-148 pips

April:-240 pips

May:+236 pips

June:+02 pips

July so far:-150 pips

Total for the year:+463 pips

Candles
22
Candles  

Another part 3

Cad\Jpy Testing

From beginning of 2007 to today

2 lots:First lot close at +30,

second lot close at +100 pips

January:+302 pips

February:-94 pips

March:-194 pips

April:+536 pips

May:+1,130 pips

June:+190 pips

July so far:+60 pips

Total for the year:+1,930 pips

Candles
22
Candles  

For all 4 pairs, we have a total of :

+6,022 pips for the year

Wow! Now that is money!

+1,000 pips/month

I love this method!!!

Somebody make EA of this method???

Candles
22
Candles  

Thank you!!!

I am going to live with this method!!!

6,020 pips for half a year!!!

I usuually trade 5 standard lots on my live account, I made $20,000 and stopped because I thought I got lucky, until now, i'll have to go find the password to my live account and trade this method.THANK YOU!!!!!!

Starting today, i'll be trading 30 lots.:)

30 lots on 6,020 pips would already be a good +$180,000 !!!

OH MY GOSH!!!!!

I can live with $1,000,000 in a fast 1 year.Anyway, with the $180,000 i'd be trading 300 lots, which I would make that 6,020 pips tuen to +$1,806,00+)the current balance($180,000)

So, the total is +$2.6 million !!!

wpaten
83
wpaten  

It's profitable but I don't think it's THAT good. I went through each and every trade for the past year, and it only gave me a combined total of about 3500 pips for the past year. I think that the 30 pips is hit probably 85-90% of the time. But the 100 pips is hit between 40-50% of the time.

Remember I had a stoploss of 2 pips beneathe the previous candle, or 90 pips (whichever is lower). But once the 30 pips was reached, the stop went to break even. Many, many times after reaching the 30 pips, the trade was stopped out, because of a retracement.

Also I want to mention that it is 30 pips and 100 pips from the open of the candle. Not 30 pips or 100 pips + spread. That's pretty critical actually.

But I like this system because it is soooooo simple to use. If you see a setup at midnight, you enter the trade. If you do not see a setup at midnight, then you walk away and come back tomorrow.

I would love it if someone could make this into an ea though. Any takers?

Michel
476
Michel  

The heart is here, seems good...

Files:
wpaten.mq4 3 kb
aelimian
336
aelimian  
wpaten:
It's profitable but I don't think it's THAT good. I went through each and every trade for the past year, and it only gave me a combined total of about 3500 pips for the past year. I think that the 30 pips is hit probably 85-90% of the time. But the 100 pips is hit between 40-50% of the time.

Remember I had a stoploss of 2 pips beneathe the previous candle, or 90 pips (whichever is lower). But once the 30 pips was reached, the stop went to break even. Many, many times after reaching the 30 pips, the trade was stopped out, because of a retracement.

Also I want to mention that it is 30 pips and 100 pips from the open of the candle. Not 30 pips or 100 pips + spread. That's pretty critical actually.

But I like this system because it is soooooo simple to use. If you see a setup at midnight, you enter the trade. If you do not see a setup at midnight, then you walk away and come back tomorrow.

I would love it if someone could make this into an ea though. Any takers?

Is the beginning of a new day 00.00GMT?

To add comments, please log in or register