won one lost one
An update--my trade on the EURJPY was a loser (first loss of the year though on that pair). Did you get the +30 from the GBPUSD? Half the position is still going. GBPJPY is set up to trade on Monday.
I did get +30 pips on the GBP/USD but my second position was stopped out at break even.
GBP/JPY should be good for at least 30 pips on Monday.
Are you trading this Manually or using the EA? I noticed that on the EA didn't open a trade for the GBP/JPY on 7/19/07, even though 7/18 gave the 3 signal bar for a buy trade. I have FXDD and it showed the open was 250.36 and the close was 250.37. In my mind that should have been enough, but it didn't open the trade. The way the trade worked out, it would have given 30 pips though.
Just curious if you see the EA working for you correctly or not.
I'm actually trading this using Michel's EA that I've rewritten a little (I've changed it's TP from +130 to +100 per your rules and added a few other things like money management--equity based lot sizing). I'll change a few things and then post it for you if you'd like.
I didn't change much from Michel's original in terms of how the EA opens/closes trades. That's weird that it didn't open that trade on the GBP/JPY. According to the code it should have. On NF, 7/15 was a down day by 5 pips, but yesterday it opened a trade for +100 pips. My GBP/USD was also stopped out for +30 on the 19th.
Have u tested this E A on hourly,4 hourly and 15m and 30 m time frames ?
If so what are the results
Hi El Cid,
No, I haven't tested the EA on other timeframes.
That would be good of you
Am interested to play with an EA for this method !
Maybe there is some mistake with the sunday's bar... Not every broc have them.
I have not tested this on anything but the Daily. The Daily timeframe is the only one that I fully trust using this strategy.
The point behind this strategy was the fact that I didn't want to have to stare at charts all day long looking for a setup. I wanted to look and see within 10 seconds if it meets my criteria. If I start looking at lower timeframes, then I end up giving that freedom away.
I found out what the issue was with the position not being opened. Day 2 closed at the exact same price as day 3. The rules for the EA need for there to be at least 1 pip difference for the buy to be placed.
So it wasn't the EA. It was Me!!!!
Very interesting strategy, is it possible to members who have backtest this strategy to post for each pair the trade history, this will help to compare our trade and see missunderstand or not