November was a loser. December and January were profitable. The jury was still out on February at the time of writing. It was profitable ultimately..
Here is the gig:
- Early on in the month, send a trade in the direction of travel during the previous month.
- Close down at the end of the month.
- Rinse and repeat.
Here are the details of the demo for you to follow:
Login: 2257104
Investor: uwbl4nw
I have come to the conclusion that it is probably a good idea to close down when profits reach a pre-determined level, if ever they do, so I am using my Simplest Ever Basket Manager to achieve this.
There are some software attachments:
- Send trades in monthly direction script: go on, take a guess. I talk about Bob's moving average filter further down.
- UPL highlow indi: keeps track of the highest and lowest cash UPL of the position, so we can see where these went.
- Global variable deletion script: UPL hilo indi keeps track of the highest/lowest by saving the values to Global Variables. These are small files saved to the platform and need deleting when we open a fresh position. The script achieves this.
- Simplest basket manager ever: load it onto a blank chart (Blank.tpl) set your cash profit target, sit back and let it do its job.
- Monthly trading indicator: This is not part of the trading; I wrote it merely to confirm that the order sending script was working properly. There are three columns:
- The list of pairs you are monitoring.
- The direction of travel of the previous candle.
- The trading direction indicated by Bob's optional moving average filter.
- Position monitoring indicator basic: this shows the progress (or otherwise) of individual pairs. Set up a chart as you like it then add the indi. Whenever you want to examine an individual pair, then drag the order from open trades window onto the chart and it will automatically change to that pair.
Bob's optional moving average filter is something that nanningbob introduced to us in the early days of this forum. Bob isn't around much these days but his influence is felt throughout, most visibly in HGI and Super Slope that he conceived and got brilliant coders to create the software.
Bob taught us that prices on the monthly chart rarely change direction to form a trend in the opposite direction. As I recall, he wanted to use a 1 period MN1 moving average. 1 period MA was not available at the time, so he devised an emulation by creating a 240 period H4 MA:
- Market is above the MA: buy only.
- Market is below the MA: sell only.
You will see the option to use Bob's MA filter in the order sending script and the monthly direction indi. It is disabled by default.
We have the option to set different time frames in the order sending script so that we can experiment. At the time of writing I am playing with scalping on the H1 with the MA enabled.
I already have three more demos ready to start and will post the login details before the start of March. The idea is to open new positions as simultaneously as possible for comparison:
- One with a target of $2000 - no MA filter.
- Login : 2276023
- Investor : kpw2njf (read only password)
- One with a target of $2,000 - with MA filter
- Login : 2276025
- Investor : bpns4dg (read only password)
- One with a target of $1,000 - including the MA filter.
- Login : 2277267
- Investor : 4qopeyn (read only password)
I reckon it will be 12 months before we can come to any firm conclusions unless we instantly a run of losses. We shall see.
Hey ho.