GBP/JPY every hour automatic system.

[nika]

After struggling for a while, I see clearly that there are only few people who may pay a little-to-some attention about your whatever (but unfortunately I never met them), so I've decided to start my own thread.

After a couple of weeks of 24/7 chart scrolling, backtesting and disappointments, i finally found something, that works ALMOST every day, but it ALWAYS closes week in profit.


The system rules:

1. We trade only GBP/JPY pair.
2. We trade every new hour, every new h1 bar.
3. We open Sell and Buy positions at the same time.
4. For both (Sell and Buy) positions StopLoss is 50 pip and TakeProfit is 100 pip.

rule addition #1 : instead of opening market orders every hour, we can open 2 opposite pending orders 50 pips away with 50pip - TakeProfit and 100pip - StopLoss

Next I'd like to explain why do we open sell and buy positions at the same time and why do we do same over and over every hour, despite of the fact, that previous orders are still working.
In most cases, when such volatile pair as GJ is doing 50 pip movement in one direction, it's more likely that it will do 50 more pip movement into the same direction, then100 pip into another. Because of that, we will always lose 50 pips, but after 50 more pip we will gain 100 pip, so we'll be in 50 pip profit, but if we lose, we will lose 100 pip. From that point, the only bad thing is that our RR is negative 1:2, but in this case, quantity is over quality. By opening new orders every hour, we increase our chance of success and it is not martingale or anything like that, it's is trading system, not gambling.

Well, I'm not here to waste your, as well as my time, if you do not believe that system works it's fine, because I am not sure about that neither. I AM NOT TELLING YOU TO USE THE SYSTEM ON LIVE ACCOUNT YET, always try everything on demo first.

BUT, we have a problem here:
in order to make system work, we need to trade 24/5, for what we need ExpertAdvisor. Since I am not a coder, I can not provide EA for the system, I've tried to code (due tutorials) but it hardly ever works and worst part is that I do not know what to improve to make it work the way we need it to work. So PLEASE, if there is anybody who can create an EA, do not feel lazy to code it so we can run it on strategy tester. I'll be very thankful.

PS, any new tips and ideas for developing this system are agreed and accepted in this thread, so feel free.

Stay green!

[nika]

Here you are - took about 10 minutes. Turn EveryTickMode to false if you want to force the bot to wait for the open of the next H1 candle, otherwise it it will send a pair straight away.

No finnesse here and lot of redundant inputs - ignore them all. I will beautify the ea if it looks as though it might have legs.

Thank you soo much sir for such a fast replay and an EA.

the problem is I can not run it on StrategyTester, what am I doing wrong? it's not opening orders

[nonlinear]

works for me. why don't you test it on a forward test, after all it opens a ton of trades

[nika]

works for me. why don't you test it on a forward test, after all it opens a ton of trades

I have a "5 digit" account, may be that the reason?

[milanese]

works for me. why don't you test it on a forward test, after all it opens a ton of trades

I have a "5 digit" account, may be that the reason?

for sure not(the EA is concepted for recognizing the digits..) do like nonlinear told you, put it on a demo and test it forward..

Cheers

Tommaso

[nika]

works for me. why don't you test it on a forward test, after all it opens a ton of trades

I have a "5 digit" account, may be that the reason?

for sure not(the EA is concepted for recognizing the digits..) do like nonlinear told you, put it on a demo and test it forward..

Cheers

Tommaso

Ok, thanks for help

[nonlinear]

It is an interesting approach, I recall Ronald over on FF trading something similar. Win rate will be low, but the RReward might make up for it. Tough to say though as one will pay a ton in spread. Might be better with a slightly higher TP.

[nika]

It is an interesting approach, I recall Ronald over on FF trading something similar. Win rate will be low, but the RReward might make up for it. Tough to say though as one will pay a ton in spread. Might be better with a slightly higher TP.

Thanks for replay. the thing is, I have very tight spreads, I have FXCC XL ECN account, which provides 0.7 - 1.3 spread on GJ, without any commission.

On the other hand, I'd like to make this system useful for every trader, not just for myself.

May be you are right and higher TP will be better.

[nika]

It is an interesting approach, I recall Ronald over on FF trading something similar. Win rate will be low, but the RReward might make up for it. Tough to say though as one will pay a ton in spread. Might be better with a slightly higher TP.

Friend, can you give me a link of Ronalds FF account if it's not hard for you?

[AnotherBrian]

It is an interesting approach, I recall Ronald over on FF trading something similar. Win rate will be low, but the RReward might make up for it. Tough to say though as one will pay a ton in spread. Might be better with a slightly higher TP.

Friend, can you give me a link of Ronalds FF account if it's not hard for you?

Have you tried this link? Click it for some search results.

www.google.com