Sounds like a sound strategy developed around round numbers
Thanks for sharing Olivier
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| Author: | Gamma_gallus [ Thu Feb 02, 2012 6:30 pm ] |
| Post subject: | Stop hunting EA |
Hello, I've found below strategy very interesting , so I made a visual check on a EURUSD chart and it seems to be working well. (Why "stop hunting" is very well explained in the article) http://www.investopedia.com/walkthrough ... stops.aspx In short it's : TF: H1 Long: price above SMA 200 Enter at a price .85 (15 pips under a round number) * edit (option from Michael) : optional input = trigger the trade if Daily candle open is below .85 mark TP1 : round number (00) also move to break even the SL TP2 : price at .15 (15 pips above the round number) SL : 15 pips (so at level .70) Short: price under SMA 200 Enter at a price .15 (15 pips above a round number) * edit (option from Michael) : optional input = trigger the trade if Daily candle open is above .15 mark TP1 : round number (00) also move the SL to break even TP2 : price at .85 (15 pips under the round number) SL : 15 pips (so at level .30) Do not trigger a second trade if the first one is still open. R:R : 1:1 for TP1 , 1:2 for TP2 Maybe with a jump stop or trailing stop functionality we could set a very high TP2, because based on what i saw , there are rooms sometimes for making much more pips. thx Olivier |
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| Author: | MichaelM [ Thu Feb 02, 2012 10:16 pm ] |
| Post subject: | Re: Stop hunting EA |
Sounds like a sound strategy developed around round numbers Thanks for sharing Olivier |
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| Author: | MichaelM [ Thu Feb 02, 2012 11:49 pm ] |
| Post subject: | Re: Stop hunting EA |
I was analysing this method on AUDUSD and you'll see on the H1 chart that it had been chopping around it's RNs. A good additional rule for direction would be: LONG: Only enter if candle* open below 85 mark SHORT: Only enter if candle* open above the 15 mark. * An extra filter for this rule would be to use the Daily candle open, instead of H1 candle open. |
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| Author: | Gamma_gallus [ Fri Feb 03, 2012 4:29 pm ] |
| Post subject: | Re: Stop hunting EA |
Interesting point Michael, thanks for that, this could be indeed an user option. I make an update on the 1st post Olivier |
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| Author: | Gamma_gallus [ Sat Feb 04, 2012 1:54 pm ] |
| Post subject: | Re: Stop hunting EA |
Stupid me ! I've posted the article without making first my investigations ... I've found this EA on codebase.mql4 ... All my apologizes Gentlemen, I may have left my brain aside when I posted my initial post .. (it happens that I behave sometimes like a primitive primate  )Anyhow, as per what I read the EA seems to have some bugs : it triggers sometimes many similar orders and doesn't seem to follow the SMA rule. I should test this EA when the market opens to see what's what. PS: I know that I didn't practice this method over a period of time, so no results to share with you, but just consider the above as sharing an idea that seems interesting and makes sense to me. Olivier |
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