TambaTrader » Mon Mar 16, 2015 7:32 am wrote:my eurusd daily trader is still doing well. By week 11, I was up to 18% profit ......
Is anybody interested in helping me? I'm happy to post all my results as proof it works. I need the ALR2 ea converting. (Or perhaps just a seperate simple EA that works alongside it- although there is an annoying quirk of the ALR ea where it adjusts my TP so that would need fixing too).
I have posted my strategy before on this forum...
Shona
Hi Shona,
If you can write down exactly how your system works in a way that translates into steps that an EA can create, then I am sure Steve will give it a try.
You can use simple 'if - then' steps, something like
'if' today is Monday 'then' no trades to be taken before 12:00
'if' daily candle close is above 200MA 'then' Go long with a pending 50 pips above the pivot point etc etc
This way means that the amount of confusion for Steve or any other programmer is much less and it means you really find out how much of your approach can be automated.
Before plunging ahead with this you should also ask yourself whether your system is valid for different pairs and at different points in time. Until today, you couldn't really go wrong shorting the EU for about a year now. Just about any trend following system would look good during this time. Have you tried this on any ranging pairs?
I'm pretty sure it wouldn't work on any currency pair at any time. It works on eurusd at 7am GMT because that is when the European market opens And you usually get a nice movement then. Quite often my trade has won within an hour. Even sometimes with an ALR turn. I got my original idea from a YouTube video called '50 pips a day'. The guy wants you to subscribe to his service and he tells you which direction to pick. I thought it can't be that hard to find a predictor and started analysing different things in SAS. I had some options but then I discovered ALR and that means you don't even need to get the direction right.
The 30 pip stop loss is from my analysis it's not plucked out of the air (though it was only on one year of data - 2013)
I take your point about it perhaps not working in ranging markets. I do think that is when it won't be as good. An EA might enable some more testing.
There is one other important point. In my real account you can see it's a very tiny practise account. Because it is so small the step of 0.01 forces the take profits to be less than 90 so the ALR wins more easily. However your 7.5% risk will get you fewer alr turns as you are forced to do a larger than necessary lot size. Worth bearing in mind that it therefore may not be reflective of results on a larger account. It has been doing well on my larger demo account too though.
I am not going to attempt to write the logic of the alr2 code as that is too complicated and there is already an EA with it in. Plus I don't want to make a mistake.
My original trade has easy logic though:
If a trade on EURUSD is open do nothing;
else if no eurusd trade open do;
If hour bar is 7am bar (gmt) and price less than or equal to 200 sma then open eurusd sell trade. (Tp 50 and SL 30 but possible to change in settings)
If hour bar is 7am bar (gmt) and price greater than 200 sma then place eurusd buy trade (same SL and TP as above)
the things that could be changeable in settings are currency pair, take profit, stop loss, 200 sma. Then you would have all the usual alr2 settings.
if I had a simple EA that just did my original trade and used the alr2 to manage it I would have two problems 1) alr2 ea would change my original trade to a TP of 90 and I'd have to remember to manually change it back. 2) I'd not be able to backtest it Though would still be good for forward testing. (Yes i know backtesting in Empty4 is rubbish but might help look at ranging periods which haven't been tested at all yet)
I should say I don't mind paying for this EA. Not trying to get a freebie. I could give a donation to the website fund. I already have paid for an EA myself that does my part it's the ALR part that is the most complicated