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Peaky Fifo
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Author:  cozybooks [ Thu Aug 10, 2017 8:30 pm ]
Post subject:  Peaky Fifo
I think it's worth adding that I'm viewing the Peaky Fifo trades all as potential long term trades. I'm starting at .01 lots and adding new stop orders only once price has moved against me 200 pips. If price moves that far, I'm willing to increase the lot size .01 on my Oanda account so that I can close trades individually if I want or let them ride. If I get five trades in, at .05 lots, price has to have really moved a lot against me considering the first trade was only after the outside sixths line was broken. By then I am really overdue for a major correction, and as price moves back in my favor the larger lot sizes will quickly make up for the original trades.

Because of this, I'll run this live on only a limited number of pairs - probably about half a dozen total until I build up more equity.

Happy trading! :)
Author:  rosst [ Fri Aug 11, 2017 1:21 am ]
Post subject:  Peaky Fifo
Thanks!
Author:  cozybooks [ Fri Aug 11, 2017 1:50 am ]
Post subject:  Peaky Fifo
FYI, Kopan noticed that on the setfile I uploaded I had inadvertently left UseFifo as true. It should be false for me as I have UseVariedLots set to true. Using Oanda (for live trades) as a U.S. broker, if every trade is a different lot side I don't need the FIFO setting.

Also, the set file I uploaded is running on an FX Choice Demo account. They are an offshore broker accepting US Customers, but I'm only using them for running demos where I can run long and short in the same test account to save some CPU resources. If you are running demo or live on a US Broker, you would want either Long or Short trades set true, but not both.

Steve
Author:  cozybooks [ Fri Aug 11, 2017 1:55 am ]
Post subject:  Peaky Fifo
Two of the open trades I had earlier closed for 105 pip profits, so I now have six trades closed at 630 pips profit, four trades open running just about break even. :clap:
Author:  cozybooks [ Wed Aug 16, 2017 6:36 pm ]
Post subject:  Peaky Fifo
A nice test shaping up for Peaky Fifo. I now have seven trades closed for +735 pips banked profit.

Meanwhile, I have six open trades, five of which aren't going anywhere in particular at the moment, running a small total loss under 100 pips. The Monster on the Midway is GBPAUD, running nearly 300 pips in the red at the moment on a buy trade. Original buy was at 1.65585, and it is the only trade open for that pair. I now have two buystop orders, one at 1.64585 and one at 1.63585.

I have Peaky Fifo set to wait until it is down by 200 pips before it starts chugging out stop orders. With my varied increasing lots, the original order is .01 lots. The first buystop is .02 lots. The second buystop is at .03 lots. Neither look like they'll hit any time soon, and I may get still more pending buystops. I have it set to six trades maximum. I'll see if that is enough. In theory, while other trades on other pairs will hopefully keep popping 105 pip profits, when price turns on this pair I'm looking to see how quickly it makes it back to close in profit. I have it set to only two trades to make a basket, with a basket TP of $30.00

Of course, I'm wondering it it would be better to wait for more like 4-5 trades to create a basket, letting the bigger lot trades possibly close multiple times for 105 pip profits eventually. If I had enough U.S. accounts, I could run one of each on Oanda, basically forcing one group of trades to all close together while letting another group of trades close individually.

One of the nice ideas about leaving a demo running permanently is that now that I see this setup, I'll set up a live Peaky Fifo for GBPAUD. It's closing in on a 1,000 pip drop since its high in early July. A nice time to start setting up pending buystops.

Happy trading! :clap:
Author:  cozybooks [ Thu Aug 17, 2017 8:37 pm ]
Post subject:  Peaky Fifo
Don't look now, but here comes GBPAUD, creeping its way toward the .03 buystop. Will it make it?

Six trades open, running a meager $6.20 in the hole between them, which includes GBPAUD. Nine trades closed for a 945 pip profit.

The Peaky Fifo March continues!

Happy trading! :clap: :clap:
Author:  SteveHopwood [ Thu Aug 17, 2017 10:38 pm ]
Post subject:  Peaky Fifo
cozybooks ยป Thu Aug 17, 2017 8:37 pm wrote:Don't look now, but here comes GBPAUD, creeping its way toward the .03 buystop. Will it make it?

Six trades open, running a meager $6.20 in the hole between them, which includes GBPAUD. Nine trades closed for a 945 pip profit.

The Peaky Fifo March continues!

Happy trading! :clap: :clap:
It will make it eventually. Eventually might happen tomorrow or the market will decide to give you a kicking and fall again. :arrrg: :arrrg: :arrrg:

The market can whinge as much as it wants, but it will make it to your tp eventually. Let us hope it does not try your patience too much. Fingers crossed.

:xm:
Author:  cozybooks [ Fri Aug 18, 2017 11:35 am ]
Post subject:  Peaky Fifo
Steve is absolutely correct. The .03 trade could be taken and then have price drop again. How would you like to trade Peaky on the weekly chart, sixths set to 156 periods (3 years). Superslope here is set to 12 periods (1 year). Maybe look for 500 pips profit on each trade?

GBPAUD has lots of weekly and monthly support at 1.43-1.45 range, but that is still about 2,000 pips away. If the .03 buystop hits and then price drops to these weekly and monthly lows, it could be a long road back. :cry: Switch forums though, and look at the cool Awesome EA setups for sell trades on the weekly chart in the last year or so once SS had changed to red in the middle of 2016! :lol:

Peaky Fifo GBPAUD Weekly.png
Author:  cozybooks [ Tue Aug 22, 2017 2:57 pm ]
Post subject:  Peaky Fifo
GBPAUD is back to chugging downwards. Original .01 trade is 29.38 in the hole with no other trades open. A little further down, and a .04 buystop should get sent out, so I'll keep my eyes open for that.

Gary and Steve, the EA is running flawlessly! Kudos to both of you! :smile: :clap: :yahoo:

Meanwhile, I have five other trades open running an additional $15.00 in the hole, for $44.00 in the hole total for all open trades. I now have 9 closed trades at 945 pips closed profits $ 90.52)

Patience is the key. Luckily, Peaky has it even when I don't! :lol:
Author:  cozybooks [ Fri Sep 01, 2017 2:19 pm ]
Post subject:  Peaky Fifo
Hi gang,

Peaky Fifo 1 Hour with increasing lots starting at .01 is heading for a good challenge in September. August finished with 10 closed trades for 1050 pips, but with trades open on 10 pairs running about 1,000 pips to the negative - pretty much break even if I were to close everything, but of course, that's not the point with Peaky.

One more trade closed for 105 pips on 9/1, so I am officially up 1155 pips now, with current open trades down 1187 pips. EURUSD has two trades open (.03 total). GBPAUD finally hit on the .03 buystop, so it has two trades open (.01 and .03). All other pairs have one trade open. I have all pairs set to five trades maximum. If they get that far, they pretty much have to wait for the market to come all the way back around.

Have a great weekend, and a great Labor Day holiday Monday for folks in the U.S. :clap: :clap: :clap:
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