Peaky

[cozybooks]

Zool, thanks for the indi update! I knew the indi I provided was slightly off (or sometimes more) from what Steve's charts where showing, but I had no idea why and no idea what to do about it.

Peaky Jr. (aka live Peaky 15 minute on just 6 pairs) officially is closed for the week. All trades closed, last one manually, for a net of 219 pips. I put Peaky Jr. on a strict $600 account with .01 lots traded, and told her to see what she could do before I gave her more money to chew on.

$23.00 gain on the 219 pips, for a 3.8% return in the first week. I know it won't be this easy going forward because Peaky only had to open a second trade on two pairs and never got as far as having to open a third trade, but it's nice to start with a big smile, and lots of thanks to Steve!

As one of the five (or so it seems) traders left trading here in the U.S., I won't be able to enjoy Steve's new toy when it comes out, but he's given us all the tools we need to succeed anyway. Less pairs and multiple timeframes might be the way I go long term since I'll have all the U.S. limitations.

Have a great weekend!

[gprince66]

Looking forward to PoS, Brilliance to GENIUS

[goodo]

This is a great idea, big thanks Steve. Each day that passes I feel more and more lucky of having stumbled upon your forum.

I thought about a similar thing on Wednesday, so I setup 2 additional Empty4's with Peaky. For M15 and M5. Initially I set TP's, MarkerDistancePips and BasketCashProfit Targets to 55 (today I tailored these settings using the SIXTHS SQ_mod1 indy). Both crapt4s are ready to send trades with TradeCopy.

The M5 is up by 18.4% and M15 is up by 4.1%. Peaky H1 is the only one going into my live account but it didn't close the one trade that it opened on EURUSD so its balance stays the same. Equity is a different story.

As a side note, an advantage of using a trade copier to send trades to my live account is the margin doesn't get eaten up with pending orders. Which I think is good.

Looking forward to PoS

[Zool]

Spent a couple of hours with the indi I posted earlier and have some thoughts after it Please note I have these ideas based on how the current version of Peaky works.

Peaky only place orders when there were a recent high or low. So if we're heading up from the bottom with a recent low and long trading direction, and arrive into the top sixths that will not trigger a sell stop trade until the price makes a new high and breaks the previous sixths' high.

This is a screenshot about what I trying to say, notice the trading direction and sixths status in the EA's comments.

peaky direction.png

SInce with the upcoming PoS we will be able to trade on the bigger TF trend's retracements, it is possible that the price will not make a recent high/low, so Peaky will not send a stop order when the price arrives into the trading zone. See this 5M TF picture about what I'm talking about:

peaky-recent-HL.png

Maybe an option to let Peaky place trades even if there weren't any recent high lows, only the price moved into the trading zone, would be useful.



The second thing I noticed that the Take Profit pips has a very big impact on how long will it take to reach it, and how big would be the drawdown meantime. Sometimes only a 3-4 pip change in TP (lowering it) cut down the time from 10-12 days into 1-2 days (on the 5M timeframe). But how could we figure out what would be the optimal TP amount? We can run backtest and optimize this parameter, but that would be curve.fitting and could cause several other problems. I put a MTF ATR indicator on the chart, and found that H1 ATR(20) is usable on the M5 timeframe as take profit. We would leave some pips on the table, but sometimes there is multiple trades taken.
Pictures for illustration:

peaky-atr-tp2.png

peaky-atr-tp1.png

The third thing is about "those" trades. There will be opposite direction trades taken in a long trend that will "never" (well we know they will reach it eventually) reach their TP. I don't know what can be done with these. Maybe the currently available "FollowAdverseMarketWithStopOrders" option will handle some of these, but there will be ones that cannot be saved with this trick.

Here is a serious one (with somewhat recent dates):
This is a H1 screenshot. The red rectangles marks the places where trades would been taken longs on the M5 timeframe. The lines are showing the trade open times and open prices (NOT the TP levels). This is a 4400 pip drawdown. I don't know what can be done against situations like this, but I think it is worth thinking about this, because it WILL happen.

GBPNZDH1-peakyM5scalp.png

[SteveHopwood]

Spent a couple of hours with the indi I posted earlier and have some thoughts after it Please note I have these ideas based on how the current version of Peaky works.

Peaky only place orders when there were a recent high or low. So if we're heading up from the bottom with a recent low and long trading direction, and arrive into the top sixths that will not trigger a sell stop trade until the price makes a new high and breaks the previous sixths' high.

This is a screenshot about what I trying to say, notice the trading direction and sixths status in the EA's comments.


SInce with the upcoming PoS we will be able to trade on the bigger TF trend's retracements, it is possible that the price will not make a recent high/low, so Peaky will not send a stop order when the price arrives into the trading zone. See this 5M TF picture about what I'm talking about:


Maybe an option to let Peaky place trades even if there weren't any recent high lows, only the price moved into the trading zone, would be useful.



The second thing I noticed that the Take Profit pips has a very big impact on how long will it take to reach it, and how big would be the drawdown meantime. Sometimes only a 3-4 pip change in TP (lowering it) cut down the time from 10-12 days into 1-2 days (on the 5M timeframe). But how could we figure out what would be the optimal TP amount? We can run backtest and optimize this parameter, but that would be curve.fitting and could cause several other problems. I put a MTF ATR indicator on the chart, and found that H1 ATR(20) is usable on the M5 timeframe as take profit. We would leave some pips on the table, but sometimes there is multiple trades taken.
Pictures for illustration:



The third thing is about "those" trades. There will be opposite direction trades taken in a long trend that will "never" (well we know they will reach it eventually) reach their TP. I don't know what can be done with these. Maybe the currently available "FollowAdverseMarketWithStopOrders" option will handle some of these, but there will be ones that cannot be saved with this trick.

Here is a serious one (with somewhat recent dates):
This is a H1 screenshot. The red rectangles marks the places where trades would been taken longs on the M5 timeframe. The lines are showing the trade open times and open prices (NOT the TP levels). This is a 4400 pip drawdown. I don't know what can be done against situations like this, but I think it is worth thinking about this, because it WILL happen.

Stop trying to over-complicate something that is simple. Leave the conceptual stuff to me. I know what I am doing.

<Ignores cries of, "That is a first"> from the assembled audience.

[SteveHopwood]

BIG NEWS TO US MEMBERS

Coding star Gary has adapted Peaky to better suit your needs. Read about it/download it at http://www.stevehopwoodforex.com/phpBB3 ... 62#p154362

Amazing stuff Gary.

[SteveHopwood]

Calling all US citizens: Gary is working on a version especially for you. He is attempting to deal with the ludicrous FIFO rules. Download it from http://www.stevehopwoodforex.com/phpBB3 ... f=5&t=5203

[cozybooks]

Steve and Gary, Thanks so much for the Peaky Fifo! Hope there are some U.S. traders left out there to join the fun!

[m16club]

Steve this will be huge! Thank you for your effort to put this together, and your kindness to share it with us!

As my small contibution to this:
I've modified the Sixths_As_Bands indicator, so it can be used to visually backtest those retracement patterns (to find optimal values etc.). You wrote: "The two previous rectangles mark trades from the previous PH's; I have not measured precisely, but that looks like another +90 using a TP of 30". With this modified indicator you can see where were the sixths lines at that time (the "30 pips here probably" was good, the "And here?" wouldn't been a trade, but there was a trade just before that completed with the big drop later).

There is an input to choose between Close and High/Low price for the sixths calculation. I added it there because the original sixths as bands indicator used high/low values to calculate the sixths, but in the peak hi/lo and peaky, the close price is used to calculate the sixths (usually not a big difference but big spikes can mess things up between the 2 method).

Thanks for the historical indi update zool. This still needs to be fixed with Close instead of High/Low though. Also, for some reason ifunctions act weird with numbers, instead MODE_CLOSE is better to used.

Code: Select all

double high = High[iHighest(NULL,0,modehi,BarCount,i)];
double low  = Low[iLowest(NULL,0,modelo,BarCount,i)];

This is a very interesting project indeed. I'm new here, but I've been lurking and reading a lot of good stuff. I'm very glad that I found you guys here. This is certainly the best Forex forum filled with all smart people and no BS. Thank you all for your contributions.

[SteveHopwood]

My computer keyboard has taken a fearful hammering this weekend. New toy folks. http://www.stevehopwoodforex.com/phpBB3 ... 72#p154372