Wrong place for this idea ! It must be shifted into the special thread for ideas to be automatized ... perhaps ...
look here:
http://www.stevehopwoodforex.com/phpBB3 ... m.php?f=12
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| EA idea - weekly trading strategy https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=1484 |
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| Author: | pg2205 [ Tue Feb 12, 2013 11:02 pm ] |
| Post subject: | EA idea - weekly trading strategy |
Firstly I want to say a big thankyou to Steve Hopwood for an amazing forum he has created. I've been a long time user of forexfactory but found this forum to be better value. I'm starting to learn about Nanningbob and trying to get my head around it. In the mean time I want to present an idea and hoping that somebody out there can help me code it, because I think it could be 100% mechanical. The idea is NOT new, and it’s a combination of ideas from various people, so whoever you are, I thank you too. I'm hoping the idea I present can make those of us who work full time a little money on the side while we work our full time jobs. I want to test this EA on several years of data and then present the results to everyone for evaluation. After that I will demo test in and then finally use the EA in a live micro account. The EA needs to work in Empty4 4. The concept behind the idea is this. I want to put on a trade every week, based on last week trading range. For example, If the Euro's high last week was 1.3200, and the low was 1.2800, then last week range was 400 pips. Using this range I will decide what percentage of the range I will use and set my order. So if I set it to trade 20%, then 20% of last week’s 400pip range is 80 pips. This value is used to determine this week buy and sell orders. Continuing the example, if this week the market opens at 1.3100, the EA will determine that using 20% of last week’s range (80pips), it will set a buy order of 1.3180 (this week’s open + 80pips) and a sell order of 1.3020 (this week’s open - 80 pips). The stop loss of the buy order will be 1.3020 (the sell order) and the stop loss of the sell order will be 1.3180 (the buy order). All I want to do is capture some of the week’s coming trend. In the EA I can determine what percentage of the market range I want to use so I can test various range percentages. A visual back test on the major pairs shows this can work, but I want to see how it would perform over many years of data. I would also like to consider using a trailing stop loss and TP’s at different levels (e.g.: close half position at 50% of the risk, etc.). Hopefully I've explained this correctly, if not, please ask and I will clarify. Cheers PG |
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| Author: | AGT [ Tue Feb 12, 2013 11:20 pm ] |
| Post subject: | Re: EA idea - weekly trading strategy |
Wrong place for this idea ! It must be shifted into the special thread for ideas to be automatized ... perhaps ... look here: http://www.stevehopwoodforex.com/phpBB3 ... m.php?f=12 |
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| Author: | pg2205 [ Tue Feb 12, 2013 11:42 pm ] |
| Post subject: | Re: EA idea - weekly trading strategy |
No worries thanks, how can I get this post moved? Or shall I re-post in the "Ideas for Possible Automation" forum? |
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| Author: | AGT [ Tue Feb 12, 2013 11:57 pm ] |
| Post subject: | Re: EA idea - weekly trading strategy |
Ask a mod ... or Steve ... I saw some time ago Jem could move posts into other threads ... so send them a PN ... |
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| Author: | Jemook [ Wed Feb 13, 2013 12:31 am ] |
| Post subject: | Re: EA idea - weekly trading strategy |
Looks like a new idea, so start your very own new thread  good luck. |
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| Author: | forextrader-radioman [ Wed Feb 13, 2013 2:02 pm ] |
| Post subject: | Re: EA idea - weekly trading strategy |
Hy pg2205, imo the first and most important question before some mind power and time is invested into an EA should be: - is the strategy tested for some weeks and months in manual forward testing trades? - no = end here, test it, show the results ... - yes = please show the results of your manual trading (only this system, not mixed with other trades) all the best, Dietmar |
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