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Trading method Daily 95 pips
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Author:  Stefan61200 [ Sun May 04, 2014 8:15 pm ]
Post subject:  Trading method Daily 95 pips

Hi guys, in a few other forums like Babypips; FF and fxfisherman.com I found a trading method called "Daily 95 pips". This method is about 4 to 6 years old. A few people tried to create an EA but I haven't seen one working good.

After the new daily bar opens, place 6 pending orders on the PREVIOUS daily candle. The original parameters are as follows:

3 Pending buy orders above the High which should be as follows:
Buy/Long Orders:
i. #1 - Entry = HIGH+5pips, Take Profit=15pips, S/L=30pips
ii. #2 - Entry = HIGH+5pips, Take Profit=30pips, S/L=30pips
iii. #3 - Entry = HIGH+5pips, Take Profit=50pips, S/L=30pips

And 3 pending sell orders below the daily LOW as follows:
Sell/Short Orders:
i. #1 - Entry = LOW-5pips, Take Profit=15pips, S/L=30pips
ii. #2 - Entry = LOW-5pips, Take Profit=30pips, S/L=30pips
iii. #3 - Entry = LOW-5pips, Take Profit=50pips, S/L=30pips

I would like to add a trailing stop after the second order has been closed.

I don’t know if that is the right place to ask for an EA. I have no idea if it is a lot of work to create such an EA because I have no clue about programming. So if one of you guys could create such an EA it would be highly appreciated.

Greetings from Germany
Stefan
Author:  jcl [ Fri May 16, 2014 1:29 pm ]
Post subject:  Trading method Daily 95 pips

Why do you think that this method produces daily 95 pips? When people already created an EA and it didn't work good, it's not to be expected that another EA would work any better.
Author:  Stefan61200 [ Tue May 20, 2014 3:47 pm ]
Post subject:  Trading method Daily 95 pips

Hi jcl,

the Eas did not do what the creator of this strategy asked for. The rules are christal clear.
Is there nobody who would like to create such an EA?

Stefan
Author:  SpiderX [ Wed May 21, 2014 3:31 am ]
Post subject:  Trading method Daily 95 pips

Stefan61200 » Tue May 20, 2014 11:47 pm wrote:Hi jcl,

the Eas did not do what the creator of this strategy asked for. The rules are christal clear.
Is there nobody who would like to create such an EA?

Stefan

Hi Stefan,

For any coder to take interest in this, it would be good to show that these rules are able to produce results.
Maybe produce some statements from your demo testing.

Cheers
Author:  jcl [ Wed May 21, 2014 1:05 pm ]
Post subject:  Trading method Daily 95 pips

Yes. This system is very simple, but we programmers are lazy - even for investing the 20 minutes to code it we need some incentive. The rules do not _look_ profitable. Unless proven otherwise, I'm almost sure just from a look at it that the system is unprofitable and the work would be wasted.

Alternatively, I can show you how to code a system. I have a tutorial on my website. It would take you about a week.
Author:  MaxS [ Wed May 21, 2014 4:09 pm ]
Post subject:  Trading method Daily 95 pips

jcl » Wed May 21, 2014 1:05 pm wrote:Yes. This system is very simple, but we programmers are lazy - even for investing the 20 minutes to code it we need some incentive. The rules do not _look_ profitable. Unless proven otherwise, I'm almost sure just from a look at it that the system is unprofitable and the work would be wasted.

Alternatively, I can show you how to code a system. I have a tutorial on my website. It would take you about a week.
I'm not interested in the system, but I'd like to watch your tutorial jcl, may you provide us with ur site?
Author:  garyfritz [ Sat May 24, 2014 4:33 am ]
Post subject:  Trading method Daily 95 pips

Stefan, I wrote a quick system to test this in Tradestation and checked it on half a dozen symbols.

To my surprise, it did actually show a profit -- but ONLY if you didn't include any costs. If you included slippage and/or commission, it loses money. I'm surprised it did that well.

As jcl told you, it is not a profitable system.
Author:  Stefan61200 [ Sat May 24, 2014 3:33 pm ]
Post subject:  Trading method Daily 95 pips

Hi Gary,

thanks a lot for your effort. I found this method/system in an old thread in FF. The creator (mikelath) of this method/system traded 6 pairs. These are GBPUSD, GBPJPY, USDJPY, EURJPY, EURGBP and EURUSD. mikelath published his trades in 2008 and they looked really good. Maybe the market has been changed and this type of trading is not profitable anymore.

Here is the link to the thread where Mikelath publuished his results.
http://www.forexfactory.com/showthread.php?p=1854671

Anyway. If you guys think that this is not a profitable System then we should close this thread.
I will keep looking for a good breakout system - maybe Hans123 is a good one. We'll see.

Thanks all together.
Author:  garyfritz [ Sat May 24, 2014 4:16 pm ]
Post subject:  Trading method Daily 95 pips

I don't see any better results in 2008.

2008 had some strong trending moves as the financial crisis blew up. I haven't looked at the FF post, but I wonder if the guy ended up riding some moves longer than this system does, and THAT'S where his great profits came from.
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