Bob and Shelley Again

[SteveHopwood]

V 1t is in post 1, in response to this pm from Shelley:

Hi Steve,

I hope your weekend was good and you managed to get some R&R

I've been thinking a lot about the re-entry trades and I believe we are still missing out on getting in on some potentially good trades, so I've been doing a lot of chart studying. The basic premise is that we won't be getting a real lot of 'main' trades as the 60 LWMA won't be getting crossed that much (especially once trading volume starts to increase in September), but I expect there will be lots of mini pullbacks in the trend and that's where I want to get back in with the re-entry trades.

So going back to my original re-entry rules (for a Buy trade):

Re-entry:
1. Candle (shift 2) must have closed LOW
2. Candle (shift 1) must close HIGH
3. Sto 5 indicator must be below 20 (shift 2)
4. BE 30 +2, SL 100, JS 50

Then you asked and I answered:

Just to clarify: you mean Candle (shift 2) closed below its open (falling candle) and Candle (shift 1) closed above it open (rising candle)? Yes, this is to re-enter a Buy (opposite for sell)

I think at the time, I got myself a little confused because your question & my answer was the most logical expectation BUT...

I think we need to amend the rule to the following (for a Sell trade):
1. Candle (shift 1) must have closed HIGHER than Candle (shift 0)
2. Candle (shift 2) must have closed HIGHER than candle (shift 1)
3. Sto 5 indicator must be above 80 (shift 2)

So that does not necessarily mean that Candle (shift 2) needs to be a rising candle, it can be a falling candle and still close higher than the open of Candle (shift 1)

EG. Price is trending down, then there is a pullback that lasts perhaps 3 or 4 candles (without crossing back over the 60LWMA), price stalls and then resumes back into the direction of the trend. During this pullback Stochastic goes up above 80. Depending on how deep the pullback has been, it may be that there could be 2 or more falling candles before a trade is triggered.

Opposite for Buys

Please see chart below...I hope it helps a bit more with my explanation and in my opinion this would be a valid re-entry trade but at this stage BASA will not take it.
Let me know what you think

cadjpy.gh4.png

So, the trade entry rules are now:

Buy re-entry trade
Re-entry trigger:
1. Candle (shift 1) must have closed LOWER than the current market price
2. Candle (shift 2) must have closed LOWER than candle (shift 1)
3. Stochastic 5, 3, 3 indicator must be below 20 at Close(2)
4. Stacking moving averages must be pointed up.
5. BE 30 +2, SL 100, JS 50

Sell re-entry trade
1. Candle (shift 1) must have closed HIGHER than current market price
2. Candle (shift 2) must have closed HIGHER than candle (shift 1)
3. Stochastic 5, 3, 3 indicator must be above 80 at Close(2)
4. Stacking moving averages must be pointed up.
5. BE 30 +2, SL 100, JS 50

[ffxbettor]

Small bloop in version 1t ?

In function LookForTradingOpportunities(), in the code looking for a SELL re-entry :

Code: Select all

         //Is this a re-entry?
         if (!MainEntry && AllowReEntry)//See 7
         {
            //~ 1. Candle (shift 1) must have closed HIGHER than Candle (shift 0)
            //~ 2. Candle (shift 2) must have closed HIGHER than candle (shift 1)
            //~ 3. Sto 5 indicator must be above 80 (shift 2)
            //~ 4. Previous candle must close below fast MA
            //~ 5. No open trade.
            //~ 6. Only 1 trade per candle, so no new trade if there is one that opened/closed within the candle
            //~ 7. User must allow re-entry trades.

            if (Close[0] > Bid)//1  <- HERE
 

I think (but I'am not sure) that the last line should be :

Code: Select all

            if (Close[1] > Bid)//1   Close[1] instead of Close[0]

Cheers,
Didier

[SteveHopwood]

Small bloop in version 1t ?

In function LookForTradingOpportunities(), in the code looking for a SELL re-entry :

Code: Select all

         //Is this a re-entry?
         if (!MainEntry && AllowReEntry)//See 7
         {
            //~ 1. Candle (shift 1) must have closed HIGHER than Candle (shift 0)
            //~ 2. Candle (shift 2) must have closed HIGHER than candle (shift 1)
            //~ 3. Sto 5 indicator must be above 80 (shift 2)
            //~ 4. Previous candle must close below fast MA
            //~ 5. No open trade.
            //~ 6. Only 1 trade per candle, so no new trade if there is one that opened/closed within the candle
            //~ 7. User must allow re-entry trades.

            if (Close[0] > Bid)//1  <- HERE
 

I think (but I'am not sure) that the last line should be :

Code: Select all

            if (Close[1] > Bid)//1   Close[1] instead of Close[0]

Cheers,
Didier

Nice spot Didier. Thanks.

For the code-phobics, I have added the fix to 1t in post one - not updated the version number.

The rest of you go to Scite line 1461 and change

if (Close[0] > Bid)//1

to

if (Close[1] > Bid)//1

[fxozgirl]

V 1t is in post 1, in response to this pm from Shelley:

Simply stunning Steve...an amazingly quick response

Thanks
Shelley

[SteveHopwood]

V 1t is in post 1, in response to this pm from Shelley:

Simply stunning Steve...an amazingly quick response

Thanks
Shelley

You supply the brains. I will supply the nuts and bolts, then later comers will ensure I am fitting them in the right place.

[fxozgirl]

V 1t is in post 1, in response to this pm from Shelley:

Simply stunning Steve...an amazingly quick response

Thanks
Shelley

You supply the brains. I will supply the nuts and bolts, then later comers will ensure I am fitting them in the right place.

And between us all we make quite a team

You have forged an incredible environment here Steve...something that I hope you & every member here is proud of and recognise...Thanks so much

[SteveHopwood]

You have forged an incredible environment here Steve...something that I hope you & every member here is proud of and recognise...Thanks so much

I am, for sure. It helps that all the mods agree with my general direction - makes this place a whole lot easier to manage.

[fxozgirl]

Hi Steve,

Getting the following error message with v1t...although it looks as though jumping stop is working correctly

BASA_v1t_error_messages.png

[fxozgirl]

Demo 2a: BASA using ATR for SL
(started 26/08/13), v1s
Main Entry / Re-entry: Both On
MA Stack: On
Trade Stacking: Off
Trade Management: TP 300, JS 40, BE+2 30 ATR for SL: 20, 240, 2
Updated stochastic settings (re-entry trades) - details provided at later date


Demo 2b: BASA using ATR for SL
(started 26/08/13), v1s
Main Entry / Re-entry: Both On
MA Stack: Off
Trade Stacking: Off
Trade Management: TP 300, JS 40, BE+2 30 ATR for SL: 20, 240, 2
Updated stochastic settings (re-entry trades) - details provided at later date

I just realised a made a mistake with the settings above...I am trialling a Jumping Stop of 40 with Demo 2a & 2b for anyone who is interested

[Pips A-Go-Go]

Thanks Shelley