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Author Topic: TA Forex Trading  (Read 11736 times)

javalin

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Re: TA Forex Trading
« Reply #3585 on: August 16, 2017, 08:00:27 pm »
PENNIES your thoughts on this explanation of STRATEGY 5 maybe ?
« Last Edit: August 16, 2017, 08:15:00 pm by javalin »

Pennies2007

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Re: TA Forex Trading
« Reply #3586 on: August 17, 2017, 03:14:06 am »
PENNIES your thoughts on this explanation of STRATEGY 5 maybe ?

Yep, that looks right Jav. It follows the basic rules. I'd say it's a good pattern to watch for.

Actually, this 5 minute EA I've been working on is based on very similar principles.

I just got a modified version completed tonight and just loaded it up on the forward testing account that links to the public account. So we'll see how it does over the next several weeks.

Pennies2007

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Re: TA Forex Trading
« Reply #3587 on: August 17, 2017, 03:26:23 am »
Took 103 pips profit on my EA short from a couple days ago. I'll likely get back in on any bounces back up.

Pennies2007

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Re: TA Forex Trading
« Reply #3588 on: August 17, 2017, 03:37:21 am »
EA Chart Example

Just to give a quick rundown of how this thing works. It's a lot more complicated than what I'm showing here because it's checking all sorts of things in the background to get the best trade possible but this is the essentials.

This is a 15 minute chart but I have the EA tailored to run primarily on 5 minute charts.

GU 15 minute...


Pennies2007

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Re: TA Forex Trading
« Reply #3589 on: August 17, 2017, 06:13:03 pm »
Still debugging the code as it runs on the forward test for the 5 minute EA so don't be surprised to see some wild swings on price action in the public account till I get it all smoothed out.

javalin

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Re: TA Forex Trading
« Reply #3590 on: August 17, 2017, 08:25:20 pm »
Specialist Trading‏ @SpclstTradg  13h13 hours ago
More
 The trend of a higher time frame doesn't always confirm the trend of a lower. You'll be more consistent if you just trade ONE time frame...


i also am learning that --each time frame has it's own Trends and QUIRKS
As does each pair-I keep coming back to AUD/USD--AUD/JPY--NZD/USD--and NZD/JPY
some reason i'm drawn to the 15 min time frame-too impatient to wait on a higher time frame
So i'm tuning into those pairs and LOVE the PRIMO Strategies that Pennies brought to the board--THANKS AGAIN PENNIES

PS may watch the 1 Hour too-awe heck in between the 30 min too-see which one does better for me
« Last Edit: August 17, 2017, 08:29:13 pm by javalin »

Pennies2007

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Re: TA Forex Trading
« Reply #3591 on: August 18, 2017, 11:21:59 pm »
Specialist Trading‏ @SpclstTradg  13h13 hours ago
More
 The trend of a higher time frame doesn't always confirm the trend of a lower. You'll be more consistent if you just trade ONE time frame...


i also am learning that --each time frame has it's own Trends and QUIRKS
As does each pair-I keep coming back to AUD/USD--AUD/JPY--NZD/USD--and NZD/JPY
some reason i'm drawn to the 15 min time frame-too impatient to wait on a higher time frame
So i'm tuning into those pairs and LOVE the PRIMO Strategies that Pennies brought to the board--THANKS AGAIN PENNIES

PS may watch the 1 Hour too-awe heck in between the 30 min too-see which one does better for me

You make an excellent point Jav. During all this time I've spent coding and testing, one thing I've realized is that setting up a system of trading rules for an EA to run on really shows you what can happen if you try to incorporate too many time frames into one trading strategy. For example, when I first started putting EA's together, I naturally assumed that I needed to filter the trades on the 5 and 15 minute charts with what was happening on the hourly and 4 hour charts, or even daily charts. Boy, was I surprised...turns out that trying to make the lower time frames take only longs or only shorts based on larger time frame conditions actually caused the lower time frames to lose MORE MONEY than just leaving off the references to the higher time frames altogether.

While I still feel the need to watch the upper time frames when trading (I guess just from habit), there's no doubt that each time frame does indeed have the capability of standing on it's own.

Pennies2007

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Re: TA Forex Trading
« Reply #3592 on: August 18, 2017, 11:30:00 pm »
5 Minute EA Modification Update

Well, as expected, I found several bugs in the last 5 minute EA that I turned loose this week. That's good though...the only way to ferret these things out is to put em into play and see how they float.

What I realized is that my strategy had some flaws in the logical part of the EA...the decision making process. So I went back to the drawing board on the logic side and rehashed it. I finally came up with something I like.

One of the problems I kept running into is that each EA would seem to do ok for 3 months or 6 months or maybe even a year. But when I tried to backtest it further than that, it kept running into hurdles. I thought it was the backtester but apparently, it's because I didn't code the ability into the EA to take care of itself, mainly to recover and maintain a good equity through the ever-present consolidating market conditions we find ourselves in between trends.

So I finally came up with something that seems to work well. I just ran it on a 3 year backtest for AU. I only had it set to 0.5% risk per trade. I did that for a very good reason though...I gave the EA the ability to take multiple trades in both directions. So it's constantly rebalancing the account by closing out losers, opening winners, etc. One major challenge with any trading system (manual or automated) is to keep the drawdown as low as possible. This one, even with multiple trades, only had a 10.42% DD over 3 years. And it shows over 75% average winners. That's a good combination and it's one that needs to hold up over longer term testing.

Here's a few screen shots of what I mean. The EA places trades in both directions depending on the signals it gets from the new logic I coded in. Of course, it's still using good money management. It may look like a lot of the account is in play here but it's really not.

These are all screen shots of AU 5 minute charts and the final 3 year strategy test results in a PDF file at the bottom.

Now my task is to see if it runs on multiple pairs, which is also a hurdle I've struggled with. As Jav mentioned, each pair has it's own unique characteristics. My goal is to see if I can craft an EA that will run on pretty much any of the standard pairs without fiddling with the settings. I know it's a lofty goal, but if the logic behind the EA is good, it should be possible.

Results and screen shots here...


« Last Edit: August 18, 2017, 11:32:20 pm by Pennies2007 »

Pennies2007

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Re: TA Forex Trading
« Reply #3593 on: August 19, 2017, 07:18:19 am »
EA 5 Minute...Optimized

The win rate was good so I left all the settings the same but I went in and made slight alterations to the way it takes profits and losses. Drawdown was basically the same...less than 3% difference. But the profit was considerably better. It made over 2100 dollars profit instead of just 1700 over the same period with essentially no more risk to the account.

Getting closer...here's the original report and the optimized report...

Now, the big question...can it do the same on other pairs? Stay tuned to find out...I'm testing now.

javalin

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Re: TA Forex Trading
« Reply #3594 on: August 24, 2017, 12:13:09 pm »
Where's everybody ??

Pennies2007

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Re: TA Forex Trading
« Reply #3595 on: August 25, 2017, 12:47:13 am »
Hey Jav, I'm still poking around. I guess the market has been fairly quiet so everybody is taking a break.

But I've been busy coding and I finally gave up on the idea of a reliable 5 minute EA. There's just too many variables, especially if the EA is based on an indicator.

So I went the other direction and created one that runs on a 4 hour time frame and is based purely on price action. I just compiled it tonight and loaded it up on the MT4 demo platform that publishes to the public account I have set up for testing. We'll see how it goes.

Pennies2007

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Re: TA Forex Trading
« Reply #3596 on: August 25, 2017, 02:50:12 am »
New Handy MT4 Tools

Ok, one of these I did myself. I created an MA Cross Buy and Sell indicator that looks at the bias for 3 specific EMA's and signals you when the bias has shifted on the chart you place it on. It works on any time frame and any pair.

Just drop it on the chart and wait. It has 2 triggers...one when it begins the faster EMA cross and the primary trigger comes when the 2nd slower EMA cross confirms the first one. The primary trigger also pops up with an on-screen alert and can also send you a Push notification from your MT4 platform. Both alerts tell you the time frame, the pair, and whether it's a BUY or SELL signal on the alert.

The other tool is one that I was going to sit down and code myself but I found one that's really nicely done. It's called the Risk Calculator. I'm including a link to the training video showing how to use the calculator.

The zip file attached to this post contains 3 files...my MA Cross BUY SELL indicator, the Risk calculator indicator and the Risk Calculator Script file that can actually execute trades instantly once you use the Risk Calculator indicator to place your entries on your chart.

My indicator and the Risk calculator go in the standard Indicators folder in your MT4 directory. The risk calc script, however, needs to be placed in the Scripts folder.

Here's the video link showing how to use the Risk calculator and the script that goes with it.

http://www.spartantraderfx.com/mt4-script-to-one-click-risk-calculation/
« Last Edit: August 25, 2017, 02:51:56 am by Pennies2007 »

javalin

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Re: TA Forex Trading
« Reply #3597 on: August 25, 2017, 07:10:13 pm »
Simple be safe hope you're not in Harvey's path--you too Pennies

javalin

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Re: TA Forex Trading
« Reply #3598 on: August 25, 2017, 08:55:55 pm »
[ Guests cannot view attachments ] Still trying to figure Steve Primo's # 5 strategy--i'll call this # 5 A
two attachments
1-My rules for his strategy
2-using AUD/USD daily chart
« Last Edit: August 25, 2017, 09:33:17 pm by javalin »

Pennies2007

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Re: TA Forex Trading
« Reply #3599 on: August 26, 2017, 09:16:39 pm »
Revised MA Cross Indicator

I realized I forgot to set the indicator I coded to show prior history. That way, it sets the chart for the last known bias cross and shows past history of the indicator signals so you can see how it did overall.

Attached is the new version...just discard the old one.


 

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