ForexMorningTrade System

[aagarcia]

US holiday mean less liquidity in the "pool". Less liquidity means more volitility and more spikes...

Have a look at the AudNzd 5 minute chart. It's a good example of a pair with less liquidity hence the volitility and spikes...

Yes during US session but not London Open- minimal effect

 

[mitchp]

You don't want to confirm dll calls. In common tab you should have all the main boxes ticked but none of the subboxes.

So tick: enable alerts, allow love trading, allow dll imports, allow import of external experts.

Under inputs tab make sure you have correctly configured the trading hour. Check the gmt current time compared to your brokers market watch. Then add or subtract the difference from 530.

Thanks for the response, I have everything set up as you have above, my broker is at GMT so I'm set to take trade at 5:30 and I had the happy face on my chart - this just doesn't make any sense to me. When I run the EA through strategy tester it run just fine.

 

[JustinSydney]

Thanks for the response, I have everything set up as you have above, my broker is at GMT so I'm set to take trade at 5:30 and I had the happy face on my chart - this just doesn't make any sense to me. When I run the EA through strategy tester it run just fine.

Check also your lot size and balance. You probably already have but just checking all avenues.

 

[Dean31]

Yes during US session but not London Open- minimal effect

Less liquidity would affect all sessions - not just the US session.

 

[c0py]

Hey c0py,

Could you run a back test on the GBP/JPY at Asian open or similar timeframe like your previous test?

Ok, here you go:

GBPJPY

Starting with $4000 using lot size of 0.5 (5% risk) per trade.

Optimization results found that 2:00 was the best time setting.

2010.01.01 to 2010.09.06

Total Trades - 58
Profitable trades - 33 (56.90%)
End balance - $5899.75

 

[Prof8t]

Ok, here you go:

GBPJPY

Starting with $4000 using lot size of 0.5 (5% risk) per trade.

Optimization results found that 2:00 was the best time setting.

2010.01.01 to 2010.09.06

Total Trades - 58
Profitable trades - 33 (56.90%)
End balance - $5899.75

OK, thanks. I'm assuming that's 2:00 GMT?

 

[c0py]

OK, thanks. I'm assuming that's 2:00 GMT?

Yeah 2AM GMT

 

[Fabius]

Everything when one of the currencies is the usd.

Well, in the morning, when this system is starting, Usa Banks are closed as well.
Today they are closed even in european afternoon but if I am not wrong, TP is taken most part of times during european morning with Usa Banks still closed.

Just like today. Just like the other days.

 

[Paris Hilton]

Just done some testing using EURUSD pair comparing results to the recommended pair GBPUSD, some very interesting results:

each pair using:

start balance - $400
lot size - 0.1 (10% risk)

date range - 2010.01.01 -> 2010.09.05

-------------------------
GBPUSD

trade hour - 7
trade minute - 30

total trades - 83
profit trades - 49 (59.04%)

drawdown - 26.15%

total profit - $600
end balance - $1000

-------------------------
EURUSD

trade hour - 16
trade minute - 30

total trades - 85
profit trades - 55 (64.71%)

drawdown - 17.01%

total profit - $983.97
end balance - $1383.97

For this year EURUSD seems to have performed better than GBPUSD, I will try and spend some time backtesting further to see if it holds up.

Can you do a back test on the EUR for 2 to 3 years back and see what the results are? 40 pip TP and 40 pis SL. I might also add this to my trading along with the GBP. Thanks, Paris

 

[c0py]

Can you do a back test on the EUR for 2 to 3 years back and see what the results are? 40 pip TP and 40 pis SL. I might also add this to my trading along with the GBP. Thanks, Paris

Ok,

For 2008.01.01 to 2010.09.03

Total trades - 418
profitable trades - 218 (52.15%)

Now we are seeing what I suspected, being that long term it's not good enough but still profitable using EURUSD.

 

[Paris Hilton]

Ok,

For 2008.01.01 to 2010.09.03

Total trades - 418
profitable trades - 218 (52.15%)

Now we are seeing what I suspected, being that long term it's not good enough but still profitable using EURUSD.

How about 2008 til now with a 30 pip sl and 30 pip tp? Thanks, Paris

 

[Paris Hilton]

Ok,

For 2008.01.01 to 2010.09.03

Total trades - 418
profitable trades - 218 (52.15%)

Now we are seeing what I suspected, being that long term it's not good enough but still profitable using EURUSD.

Also it would be good to test the fx morning trade system going back maybe to 2007 and see what the long term results are. Trading the GBP , Mark's system. Thanks, Paris

 

[PONKO]

Hello All traders:

It would be interesting analizing %winings on Mondays...I do not have time now but I will do it when possible. A quick looking I can see some Mondays (not hollidays) are loosing to as todays but I still think we have to follow the system with a proper M.M. as Mark recomendations.
Regarding EURUSD, I have noticed that it can perform better with TP 20 ro 30 pips and I´d set a 0.5% risk as a complement to the main system using GBPUSD.
Any Idea?:

Best for all

Ponko

 

[c0py]

Hello All traders:

It would be interesting analizing %winings on Mondays...I do not have time now but I will do it when possible. A quick looking I can see some Mondays (not hollidays) are loosing to as todays but I still think we have to follow the system with a proper M.M. as Mark recomendations.
Regarding EURUSD, I have noticed that it can perform better with TP 20 ro 30 pips and I´d set a 0.5% risk as a complement to the main system using GBPUSD.
Any Idea?:

Best for all

Ponko

I already checked that last week, Mondays are good from what I found - using this years data only.

The worst day was in fact Wednesday. There were 17 trades on wednesdays, 10 of those lost. All other days had more winners than losers.

 

[PONKO]

I already checked that last week, Mondays are good from what I found - using this years data only.

The worst day was in fact Wednesday. There were 17 trades on wednesdays, 10 of those lost. All other days had more winners than losers.

Thanks C0py,
And what about using 20 to 30 pips SL/TP?

 

[c0py]

Thanks C0py,
And what about using 20 to 30 pips SL/TP?

ill check in the morning when im back at work

 

[Kinger]

ill check in the morning when im back at work

thats the spirit, trading whilst you should be working

alt-tab ... the greatest addition to windows ..:clap:

 

[PONKO]

thats the spirit, trading whilst you should be working

alt-tab ... the greatest addition to windows ..:clap:

Yes, I liked that, C0py.
Many tiems I do similar in my job but I can not set up an MT4 and I check the trades with Netdania-Java. I do not have problems opening java files in my job.....
I´m seriously thinking about Mobile trading to get acces to one of my little accounts and close a trade if neccesary....maybe in Toilets...ja ja ja seriously...I have good signal in my BlackB at toiles in my job
C0py...king

 

[JustinSydney]

Well, in the morning, when this system is starting, Usa Banks are closed as well.
Today they are closed even in european afternoon but if I am not wrong, TP is taken most part of times during european morning with Usa Banks still closed.

Just like today. Just like the other days.

My guess is that the London and European banks are phsycologically effected by the predicted lack of liquidity in the us trading session. Therefore currency pairs with usd would all be effected.

 

[traderathome]

Once again my EA didn't take the trade, I wish I could figure this out. Does everyone have confirm DLL calls checked, this is the only thing that I'm not sure if it needs to be checked. Once again there is nothing in the EA log file, another thing that is fustrating. Can anyone think of a solution?

hi mitch who is your broker what was your lot settings and have traded same lotsizes b4