Hi there, i believe you will find of interest an expert advisor called the FXigorDynBOsystem that can be found in this directory, i renamged the EA by adding the "DynBO" since there are three FXiGOR systems that seem to have discussions going at some point. The Expert was originaly posted by project1972 at this post after adding MM and Magic Number capability to the original. As noted below, the first two days of my use on this netted +112 and +146.
The EA is based on the FXiGoR DYNAMIC Breakout system on Daily Average Range by seasoned pro-trader iGOR who has some interesting outside-the-box trading ideas i've found refreshing over the last year.
The idea is to look at the last 1, 5, 10, and 20 days daily average range and to take trades in the direction of the breakout when they exceed half this DAR ( see this post for a nice summary ). Once price exceeds this level a market order is generated and a trailing stop of 50 DAR is in effect.
The original Manually traded system calls for letting the open trades run their course and closing out any orders profits-or-not about 17 or 18 Central European Time and suggests that long term testing should be taken as there will be times of drawdown.
What i'm experimenting with is the idea of opening/turning on the EA when London Opens and then coming back to the PC before US opens, reevaluating any open trades the EA initiated, checking the news here at FF Calendar and depending on the possible impact of any US news i may close out trades before the news hour. If there are no major news announcements i can let the EA run and close out the trades at a pre-set time such as London close.
I would be interested in feedback from others, as this certainly looks logical as it's based on Statistical Averages and not Moving Averages ; ) For any who wish to follow, i will upload on a daily basis my demo statement. Friday's trades closed out at +112 pips in an old demo account. I've created a new one today which closed out at the US open with 146 pips profit after spread, taking 6 trades (+83, +35, +28, +17, -8, -9).
What say ye?? Anyone care to join in, forward testing this idea and see if there are some EA manament ideas we can develop to bring in some consistent profits? (i'm thinking things like trend indicators to help determin when we turn on a particular currency's EA, etc...)
For future reference, i will update/upload any new versions of this Expert or relevant information in this directory.
Cheers,
Thom
The EA is based on the FXiGoR DYNAMIC Breakout system on Daily Average Range by seasoned pro-trader iGOR who has some interesting outside-the-box trading ideas i've found refreshing over the last year.
The idea is to look at the last 1, 5, 10, and 20 days daily average range and to take trades in the direction of the breakout when they exceed half this DAR ( see this post for a nice summary ). Once price exceeds this level a market order is generated and a trailing stop of 50 DAR is in effect.
The original Manually traded system calls for letting the open trades run their course and closing out any orders profits-or-not about 17 or 18 Central European Time and suggests that long term testing should be taken as there will be times of drawdown.
What i'm experimenting with is the idea of opening/turning on the EA when London Opens and then coming back to the PC before US opens, reevaluating any open trades the EA initiated, checking the news here at FF Calendar and depending on the possible impact of any US news i may close out trades before the news hour. If there are no major news announcements i can let the EA run and close out the trades at a pre-set time such as London close.
I would be interested in feedback from others, as this certainly looks logical as it's based on Statistical Averages and not Moving Averages ; ) For any who wish to follow, i will upload on a daily basis my demo statement. Friday's trades closed out at +112 pips in an old demo account. I've created a new one today which closed out at the US open with 146 pips profit after spread, taking 6 trades (+83, +35, +28, +17, -8, -9).
What say ye?? Anyone care to join in, forward testing this idea and see if there are some EA manament ideas we can develop to bring in some consistent profits? (i'm thinking things like trend indicators to help determin when we turn on a particular currency's EA, etc...)
For future reference, i will update/upload any new versions of this Expert or relevant information in this directory.
Cheers,
Thom