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Biting the Big Apple - XAUUSD M1 trading London close / NY open

  • #161
  • Dec 11, 2023 5:59am Dec 11, 2023 5:59am
nice long move going on at the moment!
  • #162
  • Dec 11, 2023 6:07am Dec 11, 2023 6:07am
registered
I wish everyone serenity and a happy hand.
My special thanks go to Kirk for his generosity and strikingly precise presentation of the methodology.
I use MT4, but I also see how committed MachineLearn works without being able to appreciate it with expertise.
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See you later.
  • #163
  • Dec 11, 2023 6:34am Dec 11, 2023 6:34am
Quoting kirkleaforex
For those who would prefer to NOT have a button for the Waddah Attar Explosion indi appearing on the screen, here is an updated version of the BTBA indicator, V2.1. As always, if you download this latest version of the BTBA indi you will need the latest Waddah Attar Explosion indicator to accompany it in your /Indicators folder. Both are attached here to download. Thanks again to Aussie Phil above for his input here, much obliged mate. I would LOVE someone to help me amend the code for the Currency Strength XAUUSD indi so it can be utilised...
Hello , i made this account just to answer this , but i am interested in helping you make a currency strength indi for XAUUSD, i have experience in coding both mql4/5 and i like this indicator you made very much
  • #164
  • Dec 11, 2023 6:35am Dec 11, 2023 6:35am
I second Isabella.

Thanks again Kirk and MachineLane , you guys are awsome :-)
  • #165
  • Dec 11, 2023 6:36am Dec 11, 2023 6:36am
Quoting Isabella_D
registered I wish everyone serenity and a happy hand. My special thanks go to Kirk for his generosity and strikingly precise presentation of the methodology. I use MT4, but I also see how committed MachineLearn works without being able to appreciate it with expertise. {image}See you later.
Thanks for registering and being part of this demo challenge, Isabella_D. Best wishes for your trading this week.
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  • #166
  • Dec 11, 2023 6:55am Dec 11, 2023 6:55am
Good work Kirk!

I’m joining in on the challenge

  • #167
  • Dec 11, 2023 6:57am Dec 11, 2023 6:57am
Quoting MachineLearn
Good work Kirk! I’m joining in on the challenge
Thanks MachineLearn for everything you are doing for us here and for the TradingView community.

Best wishes to you for the demo challenge.
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  • #168
  • Dec 11, 2023 6:59am Dec 11, 2023 6:59am
Remember to wait for candle close before entering off an arrow...
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  • #169
  • Dec 11, 2023 7:50am Dec 11, 2023 7:50am
Not the best of starts, but so far NY has been very choppy.

Started with a quick win, then a loss, another win, another loss, and then 2 successive losses to close my account close enough to 2% down to call it quits.

This is important data we are gathering here. We can look back and analyse what happened, and for me it seems pretty clear that I should not be entering a 2nd trade immediately after the first win as soon as another consecutive arrow appears. But then again, on another day the market could be trending strongly in a single direction and I would make my 2% in minutes.

Another thought is that Mondays are not the best trading days, as markets are finding their feet a bit. It is mid-week when we can see more reliable directional moves.

Did anyone else have any thoughts they want to add in here?

One other thing is also clear - discretion is going to make a big difference. If you are using the BTBA indi as a 'confluence tool' as part of a greater strategy, this might offer you the edge you are looking for.

For now though, these are my initial thoughts. Let's see what tomorrow brings.
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  • #170
  • Dec 11, 2023 8:02am Dec 11, 2023 8:02am
I caught the move down nicely and used the 'x' to get out.
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  • #171
  • Dec 11, 2023 8:08am Dec 11, 2023 8:08am
So far I’m 2-0 in LO but used small lot sizes to adjust to using this broker. Increasing lot size on following trade at NYO and reporting back…
  • #172
  • Dec 11, 2023 9:35am Dec 11, 2023 9:35am
Quoting kirkleaforex
Not the best of starts, but so far NY has been very choppy. Started with a quick win, then a loss, another win, another loss, and then 2 successive losses to close my account close enough to 2% down to call it quits. This is important data we are gathering here. We can look back and analyse what happened, and for me it seems pretty clear that I should not be entering a 2nd trade immediately after the first win as soon as another consecutive arrow appears. But then again, on another day the market could be trending strongly in a single direction...
Hi kirkleaforex,

can you explain to me what your trigger is for entering a trade?
Because except for the first trade where I see the black arrow pointing downwards, for the other trades I don't see anything...
thanks
  • #173
  • Dec 11, 2023 9:53am Dec 11, 2023 9:53am
Quoting MachineLearn
System working to perfection this morning.. and we’re out by 10. I take what I can from first two setups and call it a day.. When I’m home I’ll update my entries and exits {image} {image}
2-0 LO

2-0 NYO
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  • #174
  • Dec 11, 2023 10:21am Dec 11, 2023 10:21am
Quoting MachineLearn
{quote} 2-0 LO 2-0 NYO {image} {image} {image} {image}
Well done!
Less is more...
  • #175
  • Dec 11, 2023 10:25am Dec 11, 2023 10:25am
one more trade
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  • #176
  • Edited 11:31am Dec 11, 2023 11:17am | Edited 11:31am
Quoting pipcruiser
{quote} Well done!
Thanks sir! Excited for more trades

Im torn between arbitrary percent targets or letting trades run till reversal with hard stop.. the latter is harder to create a consistent system with though
  • #177
  • Dec 11, 2023 12:54pm Dec 11, 2023 12:54pm
Quoting flavio1900
{quote} Hi kirkleaforex, can you explain to me what your trigger is for entering a trade? Because except for the first trade where I see the black arrow pointing downwards, for the other trades I don't see anything... thanks
Hi flavio1900.

After I entered on the first black arrow I closed when the profit % reached 1.1%. After this happened there was another black arrow at the close of the following candle, but the market then reversed and stopped me out.

Then there was a white arrow which I entered a buy and that was a win, but then there was another white arrow on the next candle close after this, and the market reversed again and took my SL, so another loss.

After this there was a buy arrow which reversed and stopped me out, then a sell arrow which reversed again and stopped me out, making me around -2% for the session.

You can see the individual trades on the screenshot I posted - small dotted red and blue lines.
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  • #178
  • Dec 11, 2023 1:08pm Dec 11, 2023 1:08pm
Well done to everyone who participated with the start of the Prop Firm Demo Challenge - it seems you all got the results we are looking for (except me! lol)

If you are trading using a more 'discretionary' approach and not being as strict with the rules as I am then I think you will be seeing better results. For now until the end of the challenge I will continue trading the same way - robotic entries as soon as there is an arrow in either direction - and see what happens.

For the next demo challenge after this I will start trading with more discretion, i.e. trade what I consider are higher probability trade setups using support / resistance levels, ICT concepts etc. It will be interesting to compare results between the two approaches.

I am now away from my computer until just before tomorrow's NY open, am driving to Sydney today - see you all soon.
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  • #179
  • Dec 11, 2023 3:37pm Dec 11, 2023 3:37pm
Quoting kirkleaforex
Not the best of starts, but so far NY has been very choppy. Started with a quick win, then a loss, another win, another loss, and then 2 successive losses to close my account close enough to 2% down to call it quits. This is important data we are gathering here. We can look back and analyse what happened, and for me it seems pretty clear that I should not be entering a 2nd trade immediately after the first win as soon as another consecutive arrow appears. But then again, on another day the market could be trending strongly in a single direction...
Excellent Moeny mangement Skills and you stopped trading , I have a very weak and emotional mind set and aggessively trading until I recover the losees, sometime that approach may work, but I failed many times, slowly progressing and trying to stop trading when I see losses at some extent, Thanks again for your time to write all money management advises. Its really helpful and trying to follow.
  • #180
  • Dec 11, 2023 4:06pm Dec 11, 2023 4:06pm
Quoting lokiko
{quote} Hello , i made this account just to answer this , but i am interested in helping you make a currency strength indi for XAUUSD, i have experience in coding both mql4/5 and i like this indicator you made very much
Hello, sorry I have only just seen this post of yours now!

I would love to chat with you about this, please pvt msg me and we can discuss. Thanks again!
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