Trading method Daily 95 pips

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Stefan61200

Trading method Daily 95 pips

Post by Stefan61200 »

Hi guys, in a few other forums like Babypips; FF and fxfisherman.com I found a trading method called "Daily 95 pips". This method is about 4 to 6 years old. A few people tried to create an EA but I haven't seen one working good.

After the new daily bar opens, place 6 pending orders on the PREVIOUS daily candle. The original parameters are as follows:

3 Pending buy orders above the High which should be as follows:
Buy/Long Orders:
i. #1 - Entry = HIGH+5pips, Take Profit=15pips, S/L=30pips
ii. #2 - Entry = HIGH+5pips, Take Profit=30pips, S/L=30pips
iii. #3 - Entry = HIGH+5pips, Take Profit=50pips, S/L=30pips

And 3 pending sell orders below the daily LOW as follows:
Sell/Short Orders:
i. #1 - Entry = LOW-5pips, Take Profit=15pips, S/L=30pips
ii. #2 - Entry = LOW-5pips, Take Profit=30pips, S/L=30pips
iii. #3 - Entry = LOW-5pips, Take Profit=50pips, S/L=30pips

I would like to add a trailing stop after the second order has been closed.

I don’t know if that is the right place to ask for an EA. I have no idea if it is a lot of work to create such an EA because I have no clue about programming. So if one of you guys could create such an EA it would be highly appreciated.

Greetings from Germany
Stefan
jcl
Trader
Posts: 82
Joined: Wed Oct 31, 2012 8:04 am
Location: Frankfurt / Germany

Trading method Daily 95 pips

Post by jcl »

Why do you think that this method produces daily 95 pips? When people already created an EA and it didn't work good, it's not to be expected that another EA would work any better.
Stefan61200

Trading method Daily 95 pips

Post by Stefan61200 »

Hi jcl,

the Eas did not do what the creator of this strategy asked for. The rules are christal clear.
Is there nobody who would like to create such an EA?

Stefan
User avatar
SpiderX
Trader
Posts: 554
Joined: Thu Aug 22, 2013 4:50 pm

Trading method Daily 95 pips

Post by SpiderX »

Stefan61200 » Tue May 20, 2014 11:47 pm wrote:Hi jcl,

the Eas did not do what the creator of this strategy asked for. The rules are christal clear.
Is there nobody who would like to create such an EA?

Stefan

Hi Stefan,

For any coder to take interest in this, it would be good to show that these rules are able to produce results.
Maybe produce some statements from your demo testing.

Cheers
"Love is patient, love is kind. It does not envy, it does not boast, it is not proud. It does not dishonor others, it is not self-seeking, it is not easily angered, it keeps no record of wrongs.Love does not delight in evil but rejoices with the truth. It always protects, always trusts, always hopes, always perseveres."
-Corinthians 13:4-8
jcl
Trader
Posts: 82
Joined: Wed Oct 31, 2012 8:04 am
Location: Frankfurt / Germany

Trading method Daily 95 pips

Post by jcl »

Yes. This system is very simple, but we programmers are lazy - even for investing the 20 minutes to code it we need some incentive. The rules do not _look_ profitable. Unless proven otherwise, I'm almost sure just from a look at it that the system is unprofitable and the work would be wasted.

Alternatively, I can show you how to code a system. I have a tutorial on my website. It would take you about a week.
MaxS
Posts: 1
Joined: Fri Mar 07, 2014 1:06 pm

Trading method Daily 95 pips

Post by MaxS »

jcl » Wed May 21, 2014 1:05 pm wrote:Yes. This system is very simple, but we programmers are lazy - even for investing the 20 minutes to code it we need some incentive. The rules do not _look_ profitable. Unless proven otherwise, I'm almost sure just from a look at it that the system is unprofitable and the work would be wasted.

Alternatively, I can show you how to code a system. I have a tutorial on my website. It would take you about a week.
I'm not interested in the system, but I'd like to watch your tutorial jcl, may you provide us with ur site?
garyfritz

Trading method Daily 95 pips

Post by garyfritz »

Stefan, I wrote a quick system to test this in Tradestation and checked it on half a dozen symbols.

To my surprise, it did actually show a profit -- but ONLY if you didn't include any costs. If you included slippage and/or commission, it loses money. I'm surprised it did that well.

As jcl told you, it is not a profitable system.
Stefan61200

Trading method Daily 95 pips

Post by Stefan61200 »

Hi Gary,

thanks a lot for your effort. I found this method/system in an old thread in FF. The creator (mikelath) of this method/system traded 6 pairs. These are GBPUSD, GBPJPY, USDJPY, EURJPY, EURGBP and EURUSD. mikelath published his trades in 2008 and they looked really good. Maybe the market has been changed and this type of trading is not profitable anymore.

Here is the link to the thread where Mikelath publuished his results.
http://www.forexfactory.com/showthread.php?p=1854671

Anyway. If you guys think that this is not a profitable System then we should close this thread.
I will keep looking for a good breakout system - maybe Hans123 is a good one. We'll see.

Thanks all together.
garyfritz

Trading method Daily 95 pips

Post by garyfritz »

I don't see any better results in 2008.

2008 had some strong trending moves as the financial crisis blew up. I haven't looked at the FF post, but I wonder if the guy ended up riding some moves longer than this system does, and THAT'S where his great profits came from.
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