The go-getter system

 

I picked the name, but I can't take credit for the system. I found this on another forum. I have heard that people are getting good profits with it. I would like to see some programming wizard create a EA for it. I wonder if someone here has already done an EA on this?

Hereafter the technique explainned in layman terms.

Lets keep our focus on EURUSD.

Firstly, some definitions:

Breakout = a breakout is refered to a situation where the price breaks above a certain level H1 and heads higher.

Breakdown = a breakdown is refered to a situation where the price breaks below a certain level L1 and heads lower.

H1 = +5pips.

L1 = [Low of of all quotes between 6am and 10am CET] - 5 pips.

At 10am CET you place limit orders to:

a) Buy (go long) at H1. TP=80pips.

b) Short sell at L1. TP=80pips.

All SL at -50pips UNLESS (H1-L1) <50pips in which case:

i) SL for long position = L1

ii) SL for short position = H1

If the price anytime after 10am is breaking out the H1 threshold then your limit order to buy is filled.

If the price anytime after 10am is breaking down the L1 threshold then your limit order to sell is filled.

IF your long order has been filled AND UNREALISED Profit >= 30pips then set SL=H1, so at worst you wont lose money on that position no matter what.

IF your short order has been filled AND UNREALISED Profit >= 30pips then set SL=L1.

Now repeat then same process steps at 2pmCET but this time, H1 and L1 are the high of all quotes between 10am and 2pmCET, low of all quotes between 10am and 2pmCET, respectively.

So in total you COULD end up having [2 sessions]*[1 potential long position + 1 potential short position]per session *[2 currency pairs] = 8 positions open throughout the day. If doing this at OandA you will need one account for long positions, another for running short positions.

Whencomes 24CET (23CET on friday) AND you still have open trades running then close all trades manually.

 

Doesn't this sound alot like the Hans123 EA. It does a breakout style trader around the same time if i recall?

Anyways, breakout style traders can do well if designed well.

Graham

 

655 pages of Thread enjoyment

Graham

 

so what do you like about the hedgehog and how does this system's performance compare to the hedghog?

 
Aaragorn:
so what do you like about the hedgehog and how does this system's performance compare to the hedghog?

I haven't personally followed Hans123 that closely, partially for time. Starting 655 pages in has been abit intimidating.

The performance for Hedgehog is extremely good. It is one of the few forex EAs or systems based on maths instead of a combination of moving averages/price movement/indicators, etc.

Personally i am into my 8th week of forward testing and have done quite well with it. We are developing an EA to trade it, plus doing backtesting to narrow down ideal times to trade it.

Hope that helps,

Graham

 

would you post the results of hedghog on my EA comparisions thread? so I can see what "very good" means?

https://www.mql5.com/en/forum/174359

 
Aaragorn:
would you post the results of hedghog on my EA comparisions thread? so I can see what "very good" means? https://www.mql5.com/en/forum/174359

I would love to, however we don't have an EA yet. We are still doing manual forward testing plus developing the EA to accurately take the trades. We are having timing issues at the moment.

Graham

 

ok, if you want to use me as a sounding board I'm willing, I don't know what i might offer but my heart is in the right place

 
Aaragorn:
ok, if you want to use me as a sounding board I'm willing, I don't know what i might offer but my heart is in the right place

Sure, sounds good. Msg me anytime

Graham

 
gkozlyk:
I would love to, however we don't have an EA yet. We are still doing manual forward testing plus developing the EA to accurately take the trades. We are having timing issues at the moment. Graham

I have in my pc 2 ea. I`m not sure, but i think version v1(1).3 is the last.

Use in demo first.

Coyan