Forex trading strategy #15 (10 pips a Day)
Submitted by User on April 13, 2009 - 13:50.
Submitted by Steve
HELLO TRADERS,
AM NEW TO THIS WEBSITE AND DECIDE TO POST MY PERSONAL SYSTEM.
IT HAS BEEN MAKING ME STEADY PROFIT BUT SOMETIMES WHEN AM LATE IN THE MARKET I DON'T MAKE ANY THING AND THATS WHY AM HERE SO THAT I CAN GET HELP URGENTLY.
THE SYSTEM:
TIME FRAME:DAILY
NO INDICATORS
CURRENCY: ALL
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Thanks, but i have a question.
What do we must do with orders that are not opened?
for example if we take profit from BUY STOP order, then what we must do with SELL STOP order?
Cancel the other one.
I am novice programmer just got curios about forex so I learned some mlq4 coding. Here is the code ;
mfa.txt
I'm pretty sure the code is correct, you can see it from journal entries.
I back test it for 1 year and 2 years with m1 time interval for every tick, the system goes bankrupt pretty fast :).
As a result the system is pretty bad and wont work at all if my tests are correct, anyway it was a good coding practice for a start.
This is reply to Ali Yakamercan posting that was posted on August 20,2009.
Hi Ali. I do not think this system works for every currency. Try to do programming backtesting for currency pair Hourly chart EUR/GBP and you will see a lot of winning trades, do not do testing on MINUTE CHARTS like M1, M15, M30. Please reply to this posting with results.
Thank you for cooperation.
Hi have run some tests (H4 usually) and all end up with losses. Here is the GBPUSD one for 2009 using h4 charts;
and btw the above code was wrong, it doesnt cancel the other once the other is active. im uploading the correct one as well.
the system has more wins then the losing trades but the pay off is too low compared to the risk you are taking, you need a 5-1 wining ratio to make profit like this, which seems impossible to me tbh. And the time period of the charts doesnt really since the trade occurs once a day and time based not candle based.
I find idea about 10 pips strategy interesting. I have a question.
When I read about the system its said 'PLACE BUY STOP 30PIPS ADDED TO THE OPEN PRICE and
PLACE SELL STOP 30PIPS MINUS FROM THE OPEN PRICE'. So I have a question, why 30 pips ?
Why not 10 pips or 15 pips or 20 pips or 25 pips ?
Also can somebody do backtesting with PLACE BUY STOP 10PIPS ADDED TO THE OPEN PRICE and
PLACE SELL STOP 10PIPS MINUS FROM THE OPEN PRICE ?
Also can somebody do backtesting with PLACE BUY STOP 15PIPS ADDED TO THE OPEN PRICE and
PLACE SELL STOP 15PIPS MINUS FROM THE OPEN PRICE ?
Also can somebody do backtesting with PLACE BUY STOP 20PIPS ADDED TO THE OPEN PRICE and
PLACE SELL STOP 20PIPS MINUS FROM THE OPEN PRICE ?
Also can somebody do backtesting with PLACE BUY STOP 25PIPS ADDED TO THE OPEN PRICE and
PLACE SELL STOP 25PIPS MINUS FROM THE OPEN PRICE ?
Hi,
Backtesting can be done, theoretically is not a problem when you have an EA.
Without it, not so much :-)
From what I can see, waiting for someone to do it, is not the best option.
Sometimes it is better to do it yourself. As practice shows, a lot of new good ideas can be discovered during such tests. Get inspired and let it show you the profitable side! Good luck!
Thomas
THIS STRATEGY U MUST LOOK AT MONITOR
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