Simple morning hours breakout system - forward test $1000 =gt ?
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Thread: Simple morning hours breakout system - forward test $1000 =gt ?

  1. #1
    Hey there and a fantastic new year 2016!

    Within this thread I want to present and forwards test a dead simple breakout egy in which I take the 30min candle from 9:00-9:30 (CET =gt; GMT 1) and place stop buy and stop sell orders above and beneath. That's it. Traded pairs are EUR/USD and GBP/JPY...

    Alright, here are the principles in a more readable form:Traded pairs: EUR/USD and GBP/JPY. Take the 30m candle from 9:00-9:30 (CET =gt; GMT 1) and place 2 stop buy orders over that candle and 2 stop market orders below (0.5% risk each). SL is 90 percent of the magnitude of this candle for many orders. TP for one of those orders is 100% of the magnitude of this candle, no TP for another one (allow it to run). Order length is 1 day. When the buy or sell order is filled, place one additional buy order 1/2 below the entrance. SL and TP have the very same settings. Reason for this is to increase the position in the event of an initial retracement. If one goal is reached, clear the order.
    The notion behind this would be to use the usual volatility in the first hours of this european trading session.

    I will observe that I reveal some example trades in the future. Initial risk will be 1.5percent per transaction.

    Cheers!

  2. #2
    Quote Originally Posted by ;
    Could you assess different position sizing could alter the results? I mean atm I have 0.5% per order, perhaps it's much better to have the first person with TP with 0.75percent and the trailing one with 0.25%?
    I will.

    What about the limit order ? Is it also at @ 0.75percent or we leave it in 0.5%.

  3. #3
    Quote Originally Posted by ;
    hello everybody and thanks and Abowaik to your support I agree too that little candles may sometimes trigger”random” trades but think that a potential solution to this problem may be to use the double or triple of the ATR applyed to the finish of the signal candle I noticed that the”recovery” trade on those candle activate too fast cause it's too near first commerce and that may be an additional source of overexposure which may be restricted by triggering”recovery” trades only when the price goes our way ( could...
    Really valid points Kunay. I completely concur

  4. #4
    Now look at that short. We would be in that trade, trailing it... A pity!

  5. #5
    Quote Originally Posted by ;
    Now look at that beautiful EUR/USD brief. We still would be in that commerce, trailing it... A pity!
    Right. I think we should incorporate a min/max stop reduction relative to each pair using ATR as Kunay suggested. And since lot size is variable and calculated based on stationary risk, '' I think it will give better results.

  6. #6
    How do you want to use the ATR once the opposite order is that shut?

  7. #7
    Could you assess how different position sizing could alter the results? I mean atm I've 0.5% per order, perhaps it's much better to have the very first person with TP with 0.75% and the trailing one with 0.25%?

  8. #8
    Hmm just leave it in 0.5% for the time being.

  9. #9
    Quote Originally Posted by ;
    quote The EA will by default by the high/low of the previous 2 candles. If the distance (trailing stop) is less than Min Trailing Stop it will use Min Trailing Stop instead.
    Another question about this one for clarifiion. What's the distance (trailing stop)? The distance to the current price or the distance to the current low (in terms of a short position)?

    Edit: Nevermind, the latter I figure. Does make sense.

  10. #10
    Quote Originally Posted by ;
    quote I will. What about the limit order ? Will it be also at @ 0.75percent or we abandon it in 0.5%.
    Is not the risk for the limit order set to 0.25% at this time?

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