Forex trading strategy #18 (20 pips with GBPUSD after midnight)

well i was able to upload a picture of the indicator

and the indicator ant-GU_Breakout.ex4 this helps visually backtest in mt4

The historical data is from Metatrader.

Sorry, you're right it did lose 5 times in a row, must have missed that due to the trade that never kicked in inbetween, apologies.

rich can you tell me where u got the historical data for gbpusd from?

rich you've said your new strategy of a 5 pt break of the previous day's high and low shows only three losses in a row twice but from the results you've posted I see 5 losses in a row in may 21~28 2008 ?

- Click on "Upload file or image".
- Choose a file and click "Upload".

The file uploads to a remote server.

- You should see a link to the uploaded file.
- Now, the most important part: you have to copy that link and paste it inside your comment field.
- Submit a comment with a link in it.

P.S. In case you may wonder why we need such remote uploading. We do it for the sake of keeping our website healthy, running quick and not being overloaded with storage files.

can anyone explain how can upload the indicator and a picture the "upload file or image" button doesn't seem to be clickable

Rich well I've been playing around with this strategy it seems good but i havent had a chance to back test it more than one year (which rich has already done)

I've found an indicator which makes backtesting on mt4 very easy and am uploading it here along with a picture

Hi John,

I'm not aware of these new rules? I don't see how your hedging if you're only allowing 1 order to trigger? My broker IG Index allows me to place as many orders as I like on the same pair in either direction.

Rich

Hi Rich,

This strategy is great. I came across it on Friday 8th May 09 and wanted to test on my demo account on Monday 11th May GMT 0:15 but I was told by the broker that hedging of buying and selling the same currency pair is not allowed anymore (this is IBFX demo account). They said the NFA have changed the rules and do not allow hedging.

Is there any way we can get round this problem, because if based on ibfx, such buying and selling of the same pair is not possible anymore. Please advise, I will appreciate it.

John

Wanted to demo this strategy this evening and with the new NFA anti-hedging rules I was unable to put a pending order in the opposite direction. Would have been great to have tried it. Next option would be to set a price alarm and set my order at that point. Too bad it won't be a set it and forget it type of trading with this new regulation.

The 20, 30 and 40 relate to the limit orders for profit taking, stop always stays at 20 points.

You are correct regarding the 1 meaning win and the L meaning lose, I wanted to use W for Win but the 'IF' function in excel didn't like it in the formula.

Obviously past results don't guarantee future performance but looking a years results where the market has been pretty static in some months and in huge trends in others gives a good diversification to test the strategy.

I've like to try and add additional rules to get the win ratio up, but so far moving averages and general trend don't seem to have any baring on results.

thanks for your effort rich, much appreciated! your new strategy of the high and low would it be possible for you to define it more clearly please?

if you need any help with backtesting any months please let me know although i dont know programming i can do it manually and would be happy to help :)

thanks for the reply Rich, and your new strategy looks great too ! Is it possible for you to upload the xls file for this as well.

thanks again rich !

to the user who asked about the numbers 20/30/40 ... rich tried it out with different stop losses and included the result. also "1" means a winning trade and "L" a losing trade.

Hi,
Looks cool as a strategy.
i have a question : i opened the .xls file but i didn't understand the numbers 20 /30 /40 and the "1" and "L"
Could you explain it to use please ?

thanks,

past results are not indicative of the future, All you know is that this system was a winner. Its performance from this date forward is completely unknown