Outside The Box????

[droesparky7]

Got it, seems mcafee decide the compiler was a virus and quarintined it.

[tasse]

Hi Cartoon (or anyone else with the knowledge)

How did you set it up on oanda platform? Any help or advice is much appreciated.

Thanks
tasse

Originally Posted by Cartoon

I have try the similar strategy in oanda, but it not working well, b'cause the spread of oanda will change suddenly... T_T. So guys, which broker you recommand?

[hottuna]

Thank you for posting a method that someone who works for a living outside the home and away from the computer might use. I'm confused with the stop loss. From you directions it seems that I am not placing one when the trade starts out. That I am waiting until a 30 minute candle closes through where the exit has been drawn by the fib retracement ( on a 30 minute chart). Do I understand correctly.

[bunglungchingdong]

To
Nentro
Why do you post only strategy tester reports that is the EASY way why not run it on a demo for 6 months and post the trade sheets.
Also I think thats for Nentro to plug his site which of course has paid services.
Yes! Our results have been independently verified at FX-Performance.com since Feb. 13, 2007.
COME ON MAN at least test it on a demo for 6 months first!!!Your selling something with results for just 2 months lol geeeeesh

[Nentro]

To bunglungchingdong,

Sorry for offending you! I was just trying to contribute something useful to the fxfisherman community for my first post here.

But you are absolutley right, the EA I posted here has not been forward tested at all, so please be careful. That's why I reccommend trading it in a demo account for starters. I only posted it here because people on this forum were interested in a Monday Breakout EA, and the one I made looked good in backtests.

---

For those that are interested in tweaking this EA further, or would like to understand how I arrived at the current optimization settings:

At first, I gave it settings that I thought were reasonable, and it backtested well on the GBPUSD. I always optimize my EAs on multiple broker's data feeds to avoid over-optimization, so I did that on MIG, FXDD and InterankFX. (But it is now set for FXDD's timezone) I also noticed it was profitable on the EURUSD, so I began reoptimizing it to work on both currencies. This worked alright at first, but I knew that I would eventually need to optimize it seperately for each currency. So the project split into a GBPUSD system and a EURUSD system. It is now ready to be forward tested if anyone is up to the task.

Feel free to try it out in a demo account .

Happy Trading!

[droesparky7]

has anyone backtested this method to see if taking a reverse trade when your stopped out would work out ok?

BTW our stop was hit on cable today not long after the trade triggered.

[JoshDance]

Originally Posted by droesparky7

BTW our stop was hit on cable today not long after the trade triggered.

droesparky, remember that while systems like this have strict rules, you should always use common technical analysis skills along with them. For example, your trade on Tuesday failed because cable hit a well-tested resistance level not breached in the history of the currency. Simply opening a long position because a candle closed right at the fib line is not the best move, regardless of the system, when a strong R line like this is being hit. Why not wait for a decisive close at least 30 or 40 pips above?