Gday: a D1 Stochastic OB/OS trading robot

[fxozgirl]

Watch your Jumping Stop inputs. I have programmed Gday to close a third of the position every time a jumping stop event occurs, so having this too narrow will part-close your trade prematurely. Also make sure you lot size can be divided by 3; there is no idiot checking.

Steve,

Does this also mean the last 1/3 of the trade will close at 150 pips or will the last 3rd of the trade run until closed by a retrace to the jumping stop?

ie. Trade moves to +50 1st 3rd closes
Trade moves to +100 2nd 3rd closes
Trade moves to +150 last 3rd closes


As I didn't really provide a lot of detail in my pm, here's some more about the trade exit strategy I've been using...

My main focus has been account preservation, which is why the trade is taken divisible by 3 and using mptm to manage the trade utilising the break even, jumping stop & close partial trades functions

These are the settings I have been using in mptm
Use Breakeven: true
Breakeven Pips: 50
Breakeven Profit: 2

Jumping Stop: true
Jumping StopPips: 50

Part Close Enabled: true
Close Lots: 0.01 (or 1/3 of your opening trade size)
Preserve Lots: 0.01 (or 1/3 of your opening trade size)
The trade reaches 50 pips profit and first 3rd of trade closes, locking in 50 pips profit and moving stop to BE +2 - we're now in a safe trade and the market can do what she likes

by using these functions this allowed me to
1. get into a free trade asap (by locking in profits at 50 pips and moving stop to BE +2
2. if trade continues to run, we can then lock in another 100 pips by closing the 2nd third of the trade which then jumps the stop to +50 for the last 3rd of the trade
3. if market continues to go in our direction, this last 3rd is left to run and is closed either at reaching full TP of 500 pips or retraces back to the jumping stop

By having a staged exit, I am securing my trade first and foremost, but also getting as much out of the trade as possible (even though I do leave some pips on the table with the retrace, I'm still happy)

Hope this makes sense....

[fxozgirl]

I loaded it onto everything I could find except the silly pairs. There are a few pairs awaiting trades; should be interesting.

Great it will be good to see how the fully automatic version works

[SteveHopwood]

Watch your Jumping Stop inputs. I have programmed Gday to close a third of the position every time a jumping stop event occurs, so having this too narrow will part-close your trade prematurely. Also make sure you lot size can be divided by 3; there is no idiot checking.

Steve,

Does this also mean the last 1/3 of the trade will close at 150 pips or will the last 3rd of the trade run until closed by a retrace to the jumping stop?

ie. Trade moves to +50 1st 3rd closes
Trade moves to +100 2nd 3rd closes
Trade moves to +150 last 3rd closes


As I didn't really provide a lot of detail in my pm, here's some more about the trade exit strategy I've been using...

My main focus has been account preservation, which is why the trade is taken divisible by 3 and using mptm to manage the trade utilising the break even, jumping stop & close partial trades functions

These are the settings I have been using in mptm
Use Breakeven: true
Breakeven Pips: 50
Breakeven Profit: 2

Jumping Stop: true
Jumping StopPips: 50

Part Close Enabled: true
Close Lots: 0.01 (or 1/3 of your opening trade size)
Preserve Lots: 0.01 (or 1/3 of your opening trade size)
The trade reaches 50 pips profit and first 3rd of trade closes, locking in 50 pips profit and moving stop to BE +2 - we're now in a safe trade and the market can do what she likes

by using these functions this allowed me to
1. get into a free trade asap (by locking in profits at 50 pips and moving stop to BE +2
2. if trade continues to run, we can then lock in another 100 pips by closing the 2nd third of the trade which then jumps the stop to +50 for the last 3rd of the trade
3. if market continues to go in our direction, this last 3rd is left to run and is closed either at reaching full TP of 500 pips or retraces back to the jumping stop

By having a staged exit, I am securing my trade first and foremost, but also getting as much out of the trade as possible (even though I do leave some pips on the table with the retrace, I'm still happy)

Hope this makes sense....

It leaves the final third running.

[fxozgirl]

Watch your Jumping Stop inputs. I have programmed Gday to close a third of the position every time a jumping stop event occurs, so having this too narrow will part-close your trade prematurely. Also make sure you lot size can be divided by 3; there is no idiot checking.

Steve,

Does this also mean the last 1/3 of the trade will close at 150 pips or will the last 3rd of the trade run until closed by a retrace to the jumping stop?

ie. Trade moves to +50 1st 3rd closes
Trade moves to +100 2nd 3rd closes
Trade moves to +150 last 3rd closes


As I didn't really provide a lot of detail in my pm, here's some more about the trade exit strategy I've been using...

My main focus has been account preservation, which is why the trade is taken divisible by 3 and using mptm to manage the trade utilising the break even, jumping stop & close partial trades functions

These are the settings I have been using in mptm
Use Breakeven: true
Breakeven Pips: 50
Breakeven Profit: 2

Jumping Stop: true
Jumping StopPips: 50

Part Close Enabled: true
Close Lots: 0.01 (or 1/3 of your opening trade size)
Preserve Lots: 0.01 (or 1/3 of your opening trade size)
The trade reaches 50 pips profit and first 3rd of trade closes, locking in 50 pips profit and moving stop to BE +2 - we're now in a safe trade and the market can do what she likes

by using these functions this allowed me to
1. get into a free trade asap (by locking in profits at 50 pips and moving stop to BE +2
2. if trade continues to run, we can then lock in another 100 pips by closing the 2nd third of the trade which then jumps the stop to +50 for the last 3rd of the trade
3. if market continues to go in our direction, this last 3rd is left to run and is closed either at reaching full TP of 500 pips or retraces back to the jumping stop

By having a staged exit, I am securing my trade first and foremost, but also getting as much out of the trade as possible (even though I do leave some pips on the table with the retrace, I'm still happy)

Hope this makes sense....

It leaves the final third running.

Awesome

[fxozgirl]

I loaded it onto everything I could find except the silly pairs. There are a few pairs awaiting trades; should be interesting.

Great it will be good to see how the fully automatic version works

Actually this will be interesting, as 2 of the 3 pairs I loaded it onto, only 1 of them is saying it's waiting to trade.
Mind you I am pre-empting the market as I expect the stochs to cross back over the 20 line for chfjpy and over the 80 line for gbpchf which should signal entries

[SteveHopwood]

I just looked at the demo. What I see is interesting and not entirely surprising.

17 pairs are ob/os and looking for a trade.

Anything with Upside Down currencies in the pair is looking to buy, so buy AJ, AU, AJ, NJ, NU etc. Sell GAud.

Euro pairs are looking to buy the Euro. Usd pairs are looking to sell Usd.

The likes of scoobs, astral, whip and I have been down the ob/os route before. Granted, using Rsi but that it really just the same beast. What scoobs already new and the rest of us learned is this: just because a currency is ob/os now, doesn't mean it will not continue to be ob/os for ages more.

No news to you, Shelley; just explaining this to new comers. Stoch/Rsi et al are bound oscillators folks. This means they have a range of 0-100. If a pair reaches 100, that does not mean it is going to fall. It can continue rising for yonks and yonks and yonks. Yes, as Bob has taught us, it will fall eventually, but not just because it has hit 100. If the pair continues rising, the oscillator will remain at 100.

It is your refinement to all this that attracted my attention, Shelley. The need for the signal line to move out of ob/os looks like the stroke of genius here. Of course, just because a pair moves out of ob/os does not mean it cannot hurtle straight back again. We shall see.

This last point raises an issue a lot of us learned from the likes of scoobs and macman over the years. It concerns over-exposure to a particular currency.

For example, taking the current /weakness' of the Upside Down Land dollar. Imagine that within the next few minutes, all my waiting-to-buy Aussie pairs buy - ACad, AJ, AU. The the Aussie government has an easily-understood extra rush of blood to the head and decides the Aud is actually rather too strong and dumps a gazillion units onto the open market.

Here we are with three pairs screaming towards stop loss.

This is what all those balance/only trade a currency twice filters are all about. UseZeljco will allow us to, say, buy ACad, but then stop us buying the AUD again. The only trade twice filter will allow a buy and a sell of a particular currency, then stop us from further involvement. The principle is that we are less exposed to dramatic market movements if our trades maintain this sort of balance. There are more details in the user guide.

By default, these balance filters are disabled here. It remains to be seen whether they will be needed.

[SteveHopwood]

A quick word about the logic lying behind Gday's status displays.

The Stoch Signal line lags behind the Main line. Gday looks at the Signal line only when deciding on a trading status. If the signal is above 80, it will set a 'looking for a sell' status. When it drops below 80 and the status is still waiting-to-sell, then it will do so. Gday ignores the Main line and does not worry about a cross of the signal by the main. If the signal moves into/out of ob/os, then a cross has occurred.

[SteveHopwood]

Two of those AUDxxx buys and a GAud sell have triggered, so I am now ridiculously exposed to AUD.

Got a euro trade open as well, but it is on the machine in the music room and I cannot remember which one or what type.

[spyderman]

I am now ridiculously exposed to AUD.

The Aussies will never be the same...

[Dewey McG]

I ran a few backtests on different pairs just to have a look. I used a 10k account increased the lot size to .3 instead of .03 to get a better idea of drawdown, which varied from just under 10% to as much as 27%. Obviously, you would want to use much smaller lotsizes running multiple pairs on this size account.

FX OZ ECAD.gif

FX Oz test GJ.gif

FXOZ test 1 EU.gif