GU H1 high/low entry system?

[SteveHopwood]

You can have the best of both worlds. I will draw attention to this in my wrup on Sunday to attract more people. You guys bat this around for a few weeks and firm up a few exit conclusions, then send me a spec and I will code the bot for general distribution.

If you cannot come up with firm conclusions, then I will code what you have for my usual $100.

[themaxx]

You can have the best of both worlds. I will draw attention to this in my wrup on Sunday to attract more people. You guys bat this around for a few weeks and firm up a few exit conclusions, then send me a spec and I will code the bot for general distribution.

If you cannot come up with firm conclusions, then I will code what you have for my usual $100.

Thank you Steve.

My exits are completely discretionary. If I had a gun to my head I would say that a fixed 100-150 pip take profit would be a suitable exit strategy, but without an EA it's hard to back test.

If you have capacity Steve, could I please send you the £100 and a spec and get you to post the robot here? I'm happy for others to use the robot - maybe they'll improve things and share their improvements.

Alternatively, also happy to wait as described above. I've been manually entering these trades for a few months, a few more weeks won't kill me.

[JonCodesBad]

My exits are completely discretionary. If I had a gun to my head I would say that a fixed 100-150 pip take profit would be a suitable exit strategy, but without an EA it's hard to back test.

Why not just say for now:

• The EA will open trades as per your entry method.
• The EA will have a variable TP, so the user can adjust it. eg: 100 Pips
• Have an option to switch off the EA's trade management. So it will carry on entering new trades, but they will have to be closed manually.

"My exits are completely discretionary." It sounds like you use gut-feelings(GFs) alot. You can't code GFs.
But, GF's are a product of experience/screen time etc. As much hard work as it sounds, it is possible to extract this logic to put into code. Do you keep a trade journal?

How do you handle gaps?

As a thought, you could use market entries. To help visualize the next buy/sell level the EA could place horizontal line(s), as Rinse 'n Repeat does.

[themaxx]

Why not just say for now:

• The EA will open trades as per your entry method.
• The EA will have a variable TP, so the user can adjust it. eg: 100 Pips
• Have an option to switch off the EA's trade management. So it will carry on entering new trades, but they will have to be closed manually.

Agree with the above, these are sound ideas.

"My exits are completely discretionary." It sounds like you use gut-feelings(GFs) alot. You can't code GFs.
But, GF's are a product of experience/screen time etc. As much hard work as it sounds, it is possible to extract this logic to put into code. Do you keep a trade journal?

Yes, I keep a trade journal of every trade... I'm not sure how useful it would be to post extracts?

These are my broad thoughts on trade management:

• 1. Have a fixed TP (100-150pips). This system has a low win/loss, so you need to big hits to take care of the small losses.
  2. Close any trade after 4 days (extend this longer if the TP goes higher)
  3. Don't enter trades at the same level 3 days in a row. Ie if price consolidates for 2 days, and you have trades open from the previous 2 days, don't open new trades at the same level - wait for a breakout or stopout

How do you handle gaps?

As a thought, you could use market entries. To help visualize the next buy/sell level the EA could place horizontal line(s), as Rinse 'n Repeat does.

For gaps, I assume you mean weekend gaps? As I only enter new trades in London/NY sessions, they don't affect new trades. For existing trades, usually I'll close out everything at the end of the week, or if I had something open, as I always have a stoploss it shouldn't be too much of a problem.

Yes, market entries would work just as well as pending orders. The only minor advantage pendings would have is if the VPS went down just before a trade is due to be triggered, it would be missed. With pending orders the VPS only has to be up for a few seconds after the hour, when the order is calculated.

[guptabhk]

hi themax ,
i too was looking the same type , i got this expert from ff
http://www.forexfactory.com/showthread. ... 852&page=2
open pending buy/sell stop order @ 5pips above/below from the previous high/low. When one side pending order triggered, opposite order will be cancelled. When no trade triggered, close pending orders symbol which EA attached, wait for next candle. and puts new pending order

it has one cancel other

[themaxx]

hi themax ,
i too was looking the same type , i got this expert from ff
http://www.forexfactory.com/showthread. ... 52&page=2
open pending buy/sell stop order @ 5pips above/below from the previous high/low. When one side pending order triggered, opposite order will be cancelled. When no trade triggered, close pending orders symbol which EA attached, wait for next candle. and puts new pending order

it has one cancel other

Thanks mate, but I don't trust any EA for which I can't see the code, and looking at the FF thread the original poster lost the mlq code... But thank you.

[patmontes]

I'll be happy to fork out $20 to add TNAVI MA filters to the EA Steve will code. Enter trades only when at 8am candle the MA filters show a trend, else stay out for the day. :youknow:

[themaxx]

I'll be happy to fork out $20 to add TNAVI MA filters to the EA Steve will code. Enter trades only when at 8am candle the MA filters show a trend, else stay out for the day. :youknow:

We can always try this but the MAs that I've looked at have no bearing on the current day's movement. But a backtest would be best on this issue.

[SteveHopwood]

I'll be happy to fork out $20 to add TNAVI MA filters to the EA Steve will code. Enter trades only when at 8am candle the MA filters show a trend, else stay out for the day. :youknow:

We can always try this but the MAs that I've looked at have no bearing on the current day's movement. But a backtest would be best on this issue.

Would you like to send me a spec and I will knock something together?

[patmontes]

Themaxx, by the way, do you move also the SL of the previously triggered trade along when moving the pending buy/sell stop order with each candle?