Advanced system #4-a (London GBPJPY breakout)
Submitted by Edward Revy on March 2, 2009 - 16:24.
Submitted by Stuart Williamson
This strategy is based on the London Market.
Currency Pair: GBPJPY
Timeframe: 1 hour
Strategy:
Before London opens, at 08:00 GMT, mark the High and Low of the last 4 hours - from 04:00 until 07:59 GMT. Set your Buy and Sell orders 10 pips away from those highs and lows.
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Hi, Here is what I have. You will have to Google to find proper settings.
Market_Hours.mq4
Clock_v1_3.ex4
Market_Hours.ex4
Clock_v1_3.mq4
Paul
i tried to test this strategy... using downloaded data 1jan-30june
Capital: 50usd
Lots: 1% from capital (=0.05) and increasing based on current equity
Findings:
the best way is to use 70pips TP
and WITHOUT trailing stop.. maintain the original SL
try to believe
-Shawn-
Hi Edward,
I cannot watch market during those mentioned timings. is it possible to get an automated sytem for the same setup. so that it does the work on its own.
Thanks
Aariff
Hi Shawn,
Thank you for sharing your trading approach and results.
Eventually, one really needs to believe in the system he is trading. These are the roots of trading discipline.
Regards,
Edward
Hi Aariff,
Sure, there is no impossible things for a good programmer. But I'm not the one of them, unfortunately.
Regards,
Edward
Has anyone tested this strategy for a year or more ( backtest ). Also is there an EA for this.
Please advise. Thanks.
-Jack
backtest from 2005.1.1 to 2009.9.20. Backtest quality 90%.
Untrigged orders are deleted at 12:00 pm, i.e. 4 hours after placing the pending orders at 8:00am in the morning.
As I cannot guarantee the EA for the backtest is full correct, I post the results here. If someone noticed that the orders don't match this strategy, please let me know so that I can correct my EA.
Also the initial stop loss in this EA is 100 pips. But as soon as the orders are filled, the stop loss are immediately changed to the previous hours highs or lows. So I don't think the initial 100 pips stop loss has any influences on the final results.
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