I am new to this board and very happy to have found it. I have recently been introduced to EA and am technically challenged. I have outlined the trade and the rules in the attached file and would appreciate it if someone would code it. It has a 90% success rate when traded according to the rules, and I have manually backtested it on the eur/usd for a year and a half using 1 full lot. It was profitable every month with the lowest profit being $1800 and the highest being $6000. The trade occurs most frequently when I have to sleep so an EA is the perfect solution. Thank you in advance for your help.
How about when it loses? Also you will need to manually turn on and off the EA during the big news. The expert cannot predict when the news will be and I dont think it has been advanced enough to receive RSS feeds to know when the next news is. This expert seems simple and I've seen it work before, but the 35 pips is a bit close. For such a laggy indicator and volatile market it would be easily hit.
I think I tried this before and failed with it, I hope you can turn it into profit.
Backtesting has proven the need for the 35 pip stop. Actually the strategy calls for at stop at where the last bar touches the 10 ema line, but sometimes that can be too close, so 35 is a good average. If you notice, this worked twice yesterday and twice today (8/24). Sometimes momentum falls off but the general trend stays the same so the trade still works, it just takes its sweet time, and the retracements can be large. I would appreciate it if someone would post the code. Turning it on and off would be easier than trying to put timeframes and other rules in the code.
Interesting results. How do you backtest your strategy if you dont have an EA?
I used Global Forex' Dealbook which has archived charts. I did it one day at a time and it took me about a week. At the time I didn't even know what an EA was.
What platform EA supposed to be for?
Have a good day.
in the document there is a line that says:
"When the difference between the two is greater than or equal to 8 "
actually i use the metatrader plattform and i am using 2 moving average indicators but i don't know how to calculate the diference???
Too funny! I too trade this method but a little different, I have some extra rules. - I found this because I was searching for an indicator for MT4 - I have tried to convert an MT4 EMA crossover indicator to do this but it did not work. Please contact me if you get this working. I'm even willing to pay somebody to create one if that is what it takes. give me a call on 403 668 5257
I am planning to get things going on putting up an EA for this. I still have some questions.
1. What is the exit strategy ? Is it when order either hits target or gets stopped.
2. Is it possible that order placed in European session remains open and we take another position in the US session. ie. can there be two open orders ?
3. Do orders carry over the next day if they are not hit (this would be really unlikely considering the average daily range of EUR/USD
Any more information is appreciated. Can u post the maximum drawdown in manual testing ?
I have never seen more that three losses in a row over a year and a half,but I did not have the benefit of knowing news during that time so most likely some losing trades would not have been taken in real time
Thanks wingstar. I have more questions sorry because i dont have the details of ur trade i have to code precisely and ensure that i am doing correct.
Can you explain the following :
Do not take this trade again in the same direction. If the market has already moved 80 – 100 pips, it is probably done for the day
when do u could the 80 pips is it from 6 GMT or from the time n price u entered the first trade(when diff became > 8)
Do not take this trade immediately in the opposite direction. If the ema lines close for an hour or so then re-open in the opposite direction it is ok to go again.
Can u show some chart to explain this or give more details. I am sorry i may sound novice but i can program well provided i get the requirements clear.
Thanks and best regards,