RJo wrote:AltosT wrote:RJo wrote:v1z opened CHFJPY sell, EURJPY sell, AUDJPY sell, and USDJPY sell.
Hi RJo - have you got any cumulative results for this approach and EA ? I am likewise trialing another EA on daily bars and am interested in what your result may be.
Thanks.
Before we get into results, just know that I've not gone live yet--my results are all based on an Cowboy IBFX-US demo account. I have, in effect, been trading fxozgirl's early settings since the release of v1t on December 31st. fxozgirl's early settings are simply the default settings in v1z.
Since December 31st, The8 has closed 521 pips of profit. Right now, drawdown is as high as it's ever been at -149 pips. I'm trading 28 pairs--by exclusion, not the CZK, MXN, or PLN pairs.
v1z's PrevHighLowSL recently closed CHFJPY sell at -73 pips, and AUDJPY sell at -76 pips. Considering this along with my current DD, I'm giving back a large percentage of my profit. The real issue, as I see it, is that on 2 or 3 occasions I lost 100 to 200 pips of floating profit.
On dynel14's advice, I added EMAExits but I haven't tested them. I suspect they may be the cure for the floating profit issue. Note that EMAExits use the current EMA values which bounce around until the currently forming bar closes. Keep this in mind if you decide to visually check EMAExits.
I think the biggest issue is the EA is buying JPY -
correctly so, as the setup's are there at the time, however right now, the fundamentals for JPY are overriding/stronger than any indicator's results & at the moment any time a Japanese politician opens his mouth the markets move. JPY is likely to be going down for at least the first 6 months of this year due to government policy, so any buys would definitely only be a minor correction.
This shows the need to continue 'monitoring our charts each day, being aware of 'strong' fundamentals & not allowing the EA to take these trades. Remember, no EA is set & forget (especially when making the transition to live trading).
I have allowed my demo to buy JPY, however I am trading Live as well, but will not let it take buy JPY at all.
In regards to exits, my main focus is on getting the BE to set at the correct level... a number of times, I have had trades, set BE+2 @ 50 pips, retrace & close, then resume in the correct direction in a sustained run leaving 100's of pips on the table
I am currently +11% on my demo (v1t) which commenced on 2nd December...I'm very happy as my personal goal is to increase my account 5% per month. Now if I can only get the BE right
