Mark120169's easy and free daily system

This is a discussion on Mark120169's easy and free daily system within the Forex Net Trap forums, part of the Specialists' Corner category; Ok Nutters thought this up in May 2011 after FNT started the losing streak. Basically wanted a easy, EA controlled ...

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Old Jan 17, 2012, 12:51am   #1
 
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Mark120169's easy and free daily system

Ok Nutters thought this up in May 2011 after FNT started the losing streak. Basically wanted a easy, EA controlled daily system that just traded throughout the day and didn't need touching. live traded from July onwards and backtested it for 2011 and it made reasonable profit live (about 26%) and better profit with back test and live test combined once I have played with S/L and TP settings.

Details tomorrow on here in more detail but basically.

1) EA controlled so easy, using the Amazing EA we already have for news trading but you currently have to manually set up each day and manually close just before 11pm.

2) Trading on SLM but would work on any MT4 broker.

3) Once a day, daily trade on 24hr timeframe. No intervention needed as EA will run it, adjust etc.

4) 50 SL, 200 TP, but if not stopped out you close daily same principle as we close FNT @ 8.30am. This happens if in winning or losing position unless TP or SL has been hit.

5) Tested on EU (Wont work on GU, currently live trialing on EG)

6) currently running 2012 @ +414 pips (16.56%) for the last two weeks, no losing days, but has hit s/l once in 7 trades.

7) However in 2011 did have plenty of losing days, losing weeks and some lsong months, is not a "wonder system". However is profitable so far and with a proper fully automated copy of the amazing EA (think Amazing EA crossed with FNT trader) could be back tested .

8) Is entirely possible it could be a fluke system for 2011, not tested for 2010 or before as even using the EA you have to run MT4 strategy tester seperately for each day adjusting dates in the settings to get the Amazing EA to backtest run, even then as it runs off the M1 chart plenty of days with incomplete data in SLM that have to be manually checked off the H1 charts to figure out what would have happened on that day.

9) The reason for saying fluke system above is because this system actually thrives on big daily swings and periods when EU with swing and swap + / - 500 to 1000 pips over a 2-3 week period then flip flop, just like 2011. So could be ace in 2012, maybe ok in 2010 but rubbish in 2009 and before, really don't know.

10) Anyway details, links and the MT4 . set file needed to run it all detailed on the 17th sometime.

Thanks for listening, I aint stopped trading, just took a step back and did some chin scratching.

M

p.s. Surferking will problably get excited about the work, thinking and simplicity of the system!!!

Last edited by mark120169; Jan 17, 2012 at 11:06am.
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Old Jan 17, 2012, 1:13am   #2
 
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Re: Mark120169's easy and free daily system

I have all my Dukascopy tick-data up to date on my server now and can back-test all the majors and major-crosses on any timeframe if help is needed with a full-automated EA.

If it is a D1 system too I can also run optimisation tests pretty quickly to test for robustness / curve fitting.

Yup, do like H1 / D1 timeframes - it's the only way to go in my humble opinion.

I can't trade fixed SL and TP amounts any more though, not now I can see so clearly where they *should* be and how incorrectly placed/fixed closes can erode a good system over time.

Bollinger Bands can be used as an alternative though since they are dynamic so if the strategy is sounds then they will help make if self-adjusting to all years. I find 30 is a good period for BBs on all timeframes. The bigger the standard deviation the less often price can escape it and more likely it is to revert within 3 bars. It's a just an inescapable law of nature
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Old Jan 17, 2012, 8:40am   #3
 
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Re: Mark120169's easy and free daily system

....something new?! I like daily trades ... so less stress...
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Old Jan 17, 2012, 6:52pm   #4
 
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Re: Mark120169's easy and free daily system

mark120169 started this thread Ok. As promised here are the Amazing EA off the news trading thread, and my .set file set @ 0.1 lots (10p pip on SLM). We should all know how to add and run EA's in MT4 now so won't go into that.

Also, thinking about this last night no reason why you can't do this manually on IG Index, Capital spreads of Worldspreads accounts etc as long as you are available @ 11pm most nights to set up the trades.

Firstly download the Amazing EA ex4 and mq4 files off here and whack them in your MT4 experts folder. Then I had to rename the .set file to .pdf as it wouldn't let me upload an .set file. So next download the FX Daily Straddle.pdf file and rename it to FX Daily Straddle.set and then whack that in your experts/presets folder.

Load up a new EUR/USD M1 chart in MT4 and drop the Amazing EA onto it then load up the .set file. Make sure you set the DLL and live trading tabs to get the EA smiley face.

How to set up the trade daily


You need to be at your PC daily about 10.50pm to give yourself a few mins to set the EA up for the new days trade and close any live exisitng days trades and delete any pending orders not triggered. Best to set a repeating daily alarm on your smartphone for 10.50pm.

1) So at 10.55pm, drop the Amazing EA onto the EUR/USD M1 chart, from the next day onwards the EA will already be there so just move to step 2.

2) Open the EA and ammend the EA properites, 4th value down, called NDay. This will be set on todays date (say the 17th , so will have a value of 17). Ammend this to tomorrows date, 18th (so 18). Then save the .set file and close the properties.

This must all be done by 10.59pm GMT (11.59pm broker time for 1 hour offset brokers etc.

The EA will then launch on the next tick and just wait.

3) At 11pm and 5 seconnds the EA will place an long and short pending order 50 pips away (plus broker spread on long) from the current price (basically the 11pm GMT price / 00:00 broker price).

4) Once the pending orders have been set by the EA then close any live EA trades (as close to 11pm as possible) regardless of if they are at a profit of loss. Also it is important that and previous days pending orders have been deleted BEFORE 10.50pm.

5) Walk away, go to bed, come back the next night @ 10.50pm and repeat steps 1 to 5.

That's it. If you want to trade this manually then record the 00:00 broker open price and manually place a long and short pending stop order 50 pips away each way from this price. Add spread onto long pending order.

Set TP for 200 pips and sl for 50 pips.

On brokers that alow it DO NOT set these two trades as OCO (one closes the other). Reason is you want to make sure whichever way EU moves the next day you have a chance of following it in the trade, even it the first order is triggered, then dragged to loss, you want to be live for the next trade if that trend is the main daily trend and keeps going a few hundred pips.

Also if doing this manualy check the trade every few hours or set an IG Index price alert and move SL to b/e once the trade has reached +100 pips. This will happen a lot and did happen today. Using the EA it will do this for you automatically.

Basically is a daily straddle trade on EU 50 pips each way open the daily opening price. And you have trades both ways to catch whips caused by the markets. In 2011 you had several days the market at least moved +250 pips from daily opening in one direction so TP was hit.

Daily risk is 4% if trading @ 2% risk for 50 pip s/l and max daily reward is 8% (+200 pips). However the majority of days will close out at some smaller profit or smaller loss. You will get some periods where a few double stop out days will occur, but the 50 pip distance was checked and tested for 2011 as the most reliable distance value for EU daily price travel to avoid getting taken into two trades daily unless the main daily movement was a large 200 -300 pip movement. Meaning ok you take -50 but then go on to take +200 the other direction for a net daily +150 (6%).

You will also get several days where daily travel spikes in one direction around +100 pips then retraces 80% and closes +20 for the day. Of course as we didn't enter until +50 we close out the day at -30.

Trust me I have tried over several months looking at 20 pips distance, 25, 30, 35, 40 and 50. And by far for 2011 50 pips produced the best results due to many more daily double loss trades with smaller distances. Just look at most EU daily candles and calculate the wick lengths from open against the daily trend, not so many move 50 pips in one way before going the opposite direction 100 to 300 pips.

What is the EA set to do?

Basically it places the two pending orders 5 seconds into the new daily candle. Then once a trade is live it is set to move s/l to b/e @ +100 profit and then trails pip for pip anything above +100.

So if say a trade triggered and got to +195, then started to retrace due to news etc the EA would have locked in +95 profit.

But the majority norm is to close the daily trades manually as they didn't hit S/L or T/P.

Hopefully some bright spark can create the EA with opening and closing times over a 24 hour period ( 00:00 open and 11:59 close) and also one that does the same thing every day without having to reset the "DATE" each night. Pretty much like FNT trader but one that places two straddle trades whatever specified distance from the set open time.

This will also work 100% as well on Demo account as a live account because it places trades at times when the market is slow so their should be little difference in real performance if you want to demo it.

If we get a specific EA fully automated then I will link it to myFXbook to track performance.


Any questions just ask!



M
Attached Files
File Type: ex4 AmazingEA-1.1.8.ex4 (22.0 KB, 141 views)
File Type: mq4 AmazingEA-1.1.8.mq4 (22.0 KB, 155 views)
File Type: pdf FX Daily Straddle.pdf (191 Bytes, 147 views)

Last edited by mark120169; Jan 18, 2012 at 12:19am.
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Old Jan 17, 2012, 9:34pm   #5
 
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Re: Mark120169's easy and free daily system

...this looks promising.... may even be able to back test this as before with FNT... but will not be of 99% quality as Surferkings data...

Sorry, i haven't been around... left NT and went of successfully testing a Daily system...
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Old Jan 17, 2012, 11:05pm   #6
 
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Re: Mark120169's easy and free daily system

you won't need 99% quality backtesting on the D1 timeframe. M1 data (90% quality) will be more than adequate.
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Old Jan 18, 2012, 12:11am   #7
 
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Re: Mark120169's easy and free daily system

mark120169 started this thread Ok just a small update on todays live trade. Just closed out for +38 pips. On a 50 stop @ 2% risk this is about 1.5% profit.

So 2012 is now on +452 pips with no losing days yet! (They will come) .

EA placed pending orders 24 hrs ago and buy order @ 12701.6 was triggered 1.52am. Reach a peak profit of about +107 pips, before falling back. Came about 4 pips from hitting trailing stoploss which was @ +7 but it made it and the market recovered to +38 pips by days end.

Very happy to walk away today with 1 1/2% gain, bring 2012 to just over +18% so far.

Todays (18th) pending orders have now been setup by the EA @

Buy 12791.8 and sell 12689.4.

So we shall see what happens over the next 24hrs. Basically a very slow, lazy relaxing way to trade on the D1 timeframe. Way above the noise of news releases and market opening and closing spikes. No looking at S & R levels, cam levels or trying to second guess where it's going. Just let it go where the market takes it and hopefully have a profit come days end.

Hopefully the Asian session will push in one direction overnight and the UK / Europe and USA sessions will keep that trend going for another days profit tomorrow.

Have Fun.

M
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Old Jan 18, 2012, 3:03pm   #8
 
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Re: Mark120169's easy and free daily system

Sonds good Mark, I thought you had been quiet. Longer time frames and wider stops is where I have been looking, including overnight - I just haven't got the time and discipline to fully record and analyse what I am doing, just going on likely low and highs ie looking at PA. I'll give it a go, lets see.
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