gap trades

TambaTrader · Post by **TambaTrader** » Sun Nov 30, 2014 6:53 am

Hi everyone,

Out of all the strategies that I have been trying out the gap trades I do on Sunday evenings are the ones that always seem to win.

It is so simple I might even give the coding a go myself in the new year (when I will have time) but just in case anyone else wants to do it, here's what I do.

On Sunday night I open a trade as soon as the market opens with a take profit of whatever the market closed at on Friday night.

For the risk management side I have tried ALR. Stop losses work too. I havent done enough testing to work out optimum stop loss setting. Because I have been doing it manually I can't do enough trades quickly enough as I find I've already wasted a few pips by the time I get to the 2nd or 3rd currency pair. Sometimes they win really quickly, often by the time I've woken up on Monday morning.

If I had an EA I would use it on more currency pairs. Each Sunday night the EA would set the trades off for me the second the market opened, and I could just manually check or adjust them at my leisure.

So far I cave been doing gap trades on eurusd gbpusd and I usually pick a couple of random others.

It's not a very original idea so I wonder if anyone here has already done this EA. Does anyone else trade weekend gaps?

Shona

TambaTrader · Post by **TambaTrader** » Sun Nov 30, 2014 7:04 am

Found a really old thread about this but can't see an EA attachment on it...

http://www.stevehopwoodforex.com/phpBB3 ... p&start=10

Interesting to see its already been tried here though. Anyone still use it? It could be my perfect trading strategy as I'm not trying to get rich I just want consistency. Consistent small wins will do nicely.

Post by **milanese** » Sun Nov 30, 2014 7:44 am

TambaTrader » Sun Nov 30, 2014 7:04 am wrote:Found a really old thread about this but can't see an EA attachment on it...

http://www.stevehopwoodforex.com/phpBB3 ... p&start=10

Interesting to see its already been tried here though. Anyone still use it? It could be my perfect trading strategy as I'm not trying to get rich I just want consistency. Consistent small wins will do nicely.

there was to an EA published here http://www.stevehopwoodforex.com/phpBB3 ... 972#p21972 but it was no success...

Cheers

Tommaso

TambaTrader · Post by **TambaTrader** » Sun Nov 30, 2014 9:52 am

Great thanks Tommaso. I will look at it and have a read of the thread.

I will be interested to see if it's a complete loser or if it just needs some adaptations (e.g. only take ones in the direction of long term trend).

Might try it out tonight.

TambaTrader · Post by **TambaTrader** » Sun Nov 30, 2014 6:59 pm

I can't even get it to compile! And it looks like it is doing more than I need it to.

I will carry on with my manual trades and then try and make myself a really simple EA. All I want it to do for now is open a trade straight away when market opens where SL is friday's close. I will then either add a stop loss or use the ALR EA.

I think it will be good practice for me to make that EA, it is a nice easy one.

Thanks for the link though.

Aus67 · Post by **Aus67** » Wed Dec 03, 2014 7:03 am

milanese » Sun Nov 30, 2014 5:44 pm wrote:
TambaTrader » Sun Nov 30, 2014 7:04 am wrote:Found a really old thread about this but can't see an EA attachment on it...

http://www.stevehopwoodforex.com/phpBB3 ... p&start=10

Interesting to see its already been tried here though. Anyone still use it? It could be my perfect trading strategy as I'm not trying to get rich I just want consistency. Consistent small wins will do nicely.
there was to an EA published here http://www.stevehopwoodforex.com/phpBB3 ... 972#p21972 but it was no success...

Cheers

Tommaso

Hi Tommaso,

I know this is an old thread but I was hoping to try the Gappy EA with the new version of Empty4.(600+)

It looks as though it is compiled for earlier versions of Empty4. Is it possible to recompile this EA for the new version of Empty4 ?

Thanks for all of your great work !!

Cheers for now
Aus67

Post by **milanese** » Wed Dec 03, 2014 7:37 am

Aus67 » Wed Dec 03, 2014 7:03 am wrote:
Hi Tommaso,

I know this is an old thread but I was hoping to try the Gappy EA with the new version of Empty4.(600+)

It looks as though it is compiled for earlier versions of Empty4. Is it possible to recompile this EA for the new version of Empty4 ?

Thanks for all of your great work !!

Cheers for now
Aus67

I will later take a look...

Cheers

Tommaso

TambaTrader · Post by **TambaTrader** » Wed Dec 03, 2014 7:39 am

Actually it was easy to fix it you just had to delete a full stop out of one of the variable names. I'm writing from my phone so haven't got the exact name to hand.

I tried to use it on a few currency pairs but it said on the charts that it wasn't the beginning of a trading week so no trade placed.

I didn't try and solve that problem I just did manual trades. I would like to get this one working though as my weekend gap trades are my best trades.

Aus67 · Post by **Aus67** » Wed Dec 03, 2014 10:59 am

milanese » Wed Dec 03, 2014 5:37 pm wrote:
Aus67 » Wed Dec 03, 2014 7:03 am wrote:
Hi Tommaso,

I know this is an old thread but I was hoping to try the Gappy EA with the new version of Empty4.(600+)

It looks as though it is compiled for earlier versions of Empty4. Is it possible to recompile this EA for the new version of Empty4 ?

Thanks for all of your great work !!

Cheers for now
Aus67
I will later take a look...

Cheers

Tommaso

Many Thanks Tommaso!

Aus67 · Post by **Aus67** » Wed Dec 03, 2014 11:06 am

TambaTrader » Wed Dec 03, 2014 5:39 pm wrote:Actually it was easy to fix it you just had to delete a full stop out of one of the variable names. I'm writing from my phone so haven't got the exact name to hand.

I tried to use it on a few currency pairs but it said on the charts that it wasn't the beginning of a trading week so no trade placed.

I didn't try and solve that problem I just did manual trades. I would like to get this one working though as my weekend gap trades are my best trades.

Oh okay, ...coding is like an alien language to me! I admire anyone who can read that stuff.

Yes for me gap trading is a given. I usually wait about an hour or so after the open and only trade the currencies that haven't closed out already. I miss some, but I like to find the nearby support and resistance and then pile on the trades. Works a treat!

I am conservative and only trade the gap then close out when it has been closed.

Do you remember if the EA uses the close of the gap as the TProfit or is it set as a value?

Cheers
Aus