Developing a system #16 (40 pips per trend)

hi!
"So this version is the one that has been responsible for the wins of 120, 180, 280 pips etc that Yantz posted."

that is correct. but as i said, now that a few people are running it, i found that it is inconsistent. yesterday, i'm down -20 pips. today, i put it on hold and test the other one instead. what about the others? any results or feedback?

yantz

Hi Yantz,

How long had you been running iton Micro account? I got the impression that it had been producing good results consistently. I know you also did the manual test from January but was this done the same way as the EA?

Just trying to get an idea of how long performance has been measured over and whether the manual test you did represent the EA.

cheers,
Justin

Dear yantz

After testing several EA's I tried urs with live trading for two days and it made a profit on 3 currency pairs., today I lost all those profits I earned through your EA., today it selected a late spotting and trend reversed everytime with every currency pair,gbp/usd,eur/usd,eur/jpy.every one ended in a stop loss of 60., i removed the EA but I used only the old version u provided.
anyway please provide some better means for trading, I got relieved as I thought urs were consistent and sure profitter,might be today markets volatility made it.,
seek ur support
regards for yantz

Hi,

I suppose when Yantz invented his strategy markets were moving quite a lot. Just compare how much the markets were moving in 2007-2008 and how much they moved several months ago. You will find out that it was much much less in 2007-2008. So if markets are slowing down a little of course chances for another 40 pips after already 60 pips in the same direction are becoming rather dimm. So you should reduce your profit target and also the minimum amount of pips the currency has to move in one direction bevore entering. But with changing the latter you chances of a profital trade are alse being decreased. So all you've got to do is to observe the markets and find the best values for your setup and hope that the markets do noch change significally after you finished your research waht I think they did some time after Yantz developed and posted his strategy and EA.
Besides, if there are significant changes you will have to adapt almost every strategy to this new market situation, because strategies which do not need to be adjusted according to market conditions are very rare. So you either have to invent a strategy which workes no matter what changes occur in the market you are trading or you have to invest a lot of time to change your strategy in order to be profitable and not to lose a lot when markets change.
I myself tried lots and lots of strategies which most of them worked in earlier times and do not work now if these strategies are not adapted to the new market conditions. As example I name "Capture Market Opening Pips" which I developed and posted here http://forex-strategies-revealed.com/simple/capture-market-opening-pips. As you might see, it does not work that good nowadays, but it worked perfectly in the past.
So what you have to do in order to trade profitably is: find a strategy that works for you (not every strategy works for every trader) and make sure you modify it so it fits the current market situation.
If you have any questions feel free to contact me via email (you will find my adress in one of my earlier comments).

Happy trading,

Philipp

Hi Yantz,

I find your method and ea very interesting. I am testing with demo trading with good very early results. For some reason back testing on 1H did not work as well as 30M with EURUSD. I am therefore testing 30M.

Questions:

1. At what point do you determine your pip movement from? Is it starting from the open or from the low of the current bar?

2. How do you determine your direction (buy or sell)?

3. I think it might be better to go with pending orders instead of market orders. It might help to get you going in the right direction.

4. I have heard on other forums that it is better to take the trade in the direction of the daily open. If current price is above daily open then only look for buy setups, reverse for sells. They say that this helps to keep out of bad trades.

Hi Yantz,

Your method and ea has really got me thinking along your line of trading.
Please check out my additions to your ea.

Here is the latest modifications to the ea. I am not a programmer, I just hack my way thru the code trying to make it do what I want.

TEST ON DEMO ACCOUNT ONLY, this ea is under construction!!!!
Place ea on EURUSD, 30 minute. Use default settings (Broker is Forex.com)
As we all know back testing is not reliable, this ea has to be forward tested.

EA Code changes:

1. Added expert name, pair, and time frame to trade comment field.
2. Added amount of pips to lock in after break even amount reached.
3. Added buylimit and selllimit to orders instead of market orders, with pending amount before entry.
4. Reduced minimum move to 23 pips.

The following problems or things to do exist in this ea.

1. I would prefer to place a pending buystop or sellstop (instead of limit) but with my limited programming knowledge I could not get it to work.

2. When trailing stop is enabled, the break even pips lock does not work. We should be able to lock in pips and then trail from that lock in point.

3. Add option to trade in the direction of the daily open. If price is higher than daily open then only do buys. If price is lower than daily open then only do sells.

4. Be able to select how many trades can be open at any given time.

5. Option to delete trade if it is not activated within X amount of hours.

6. Option to set trading start and stop times in chart GMT format. Could help to keep us out of ranging periods.

I have attached latest version of ea.
yantz_v1.34.mq4

Thanks everyone for the great effort.

Everton

Here are the results of the EA for 2010 for EURUSD