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Thread: First Strike Strategy EA - Kind Request

  1. #1
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    Lightbulb First Strike Strategy EA - Kind Request

    Hi FunYoo,

    Just I wanted to share this system with the team. Its traded live in a forex blog. It would be really great if we can see this with a EA
    -------------------------------------------------------

    In the last thirty years with this system applied to GBP/USD, it has garnered approximately 41,100 pips. That is an average of 1325 pips/year, or more than 3.5 pips/ per day since 1976.
    In that time it completed 1275 trades, and never had a losing year. There were a few years that were fairly flat, but often they were followed by years with outsized gains.

    FIRSTSTRIKE has an average trade value of approximately 32 pips. It obviously has enough edge to tolerate a 3-4 pip dealer spread. It achieves this with a winning average of 45%----an average losing trade of 48 pips and an average winning trade of more than 130 pips.

    The Rules
    ----------
    On Monday morning @ 01:00 EST (00:00 Central Standard Time) note the opening price for
    GBP/USD. This will be Monday's opening price as regards this system.

    #1. Simultaneously place a buy stop 50 points (pips) above Monday's open and a sell stop 50 points (pips) below the open, OCO. (One-Cancels-the Other) When one order is filled, place a 60 point (pips) stoploss on the trade. Make sure you cancel the opposite entry order.
    You are now done for the week until Friday. If you get stopped out, you will be flat the market for the rest of the week.

    #2. If you do not get stopped out of the trade you get entered into, exit five days later at the market on Friday at 04:00 PM EST (03:00 PM Central Standard Time).

    #3. After the weekend, get ready to repeat it all over again on Monday morning.

  2. #2
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    Quote Originally Posted by tradespin View Post
    Hi FunYoo,

    Just I wanted to share this system with the team. Its traded live in a forex blog. It would be really great if we can see this with a EA
    -------------------------------------------------------

    In the last thirty years with this system applied to GBP/USD, it has garnered approximately 41,100 pips. That is an average of 1325 pips/year, or more than 3.5 pips/ per day since 1976.
    In that time it completed 1275 trades, and never had a losing year. There were a few years that were fairly flat, but often they were followed by years with outsized gains.

    FIRSTSTRIKE has an average trade value of approximately 32 pips. It obviously has enough edge to tolerate a 3-4 pip dealer spread. It achieves this with a winning average of 45%----an average losing trade of 48 pips and an average winning trade of more than 130 pips.

    The Rules
    ----------
    On Monday morning @ 01:00 EST (00:00 Central Standard Time) note the opening price for
    GBP/USD. This will be Monday's opening price as regards this system.

    #1. Simultaneously place a buy stop 50 points (pips) above Monday's open and a sell stop 50 points (pips) below the open, OCO. (One-Cancels-the Other) When one order is filled, place a 60 point (pips) stoploss on the trade. Make sure you cancel the opposite entry order.
    You are now done for the week until Friday. If you get stopped out, you will be flat the market for the rest of the week.

    #2. If you do not get stopped out of the trade you get entered into, exit five days later at the market on Friday at 04:00 PM EST (03:00 PM Central Standard Time).

    #3. After the weekend, get ready to repeat it all over again on Monday morning.
    Hi tradespin,

    Here is First Strike Strategy EA.
    Attached Files Attached Files

  3. #3
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    Default Results

    Funyoo, Thanks a lot for taking your time for coding this.

    Well, I see lot of variance from the backtesting result I got from Tradestation VS MT4. not very sure may be with the data quality.

    From 1997 to 2007 ... It was on its was working fine. past 3 years its showing as a mega disaster.

    Did I do anything wrong?? I just changed the following in the code

    int summergmtshift=3;
    int wintergmtshift=2;

    as was using FXDD for backtest on a dailychart.
    Attached Files Attached Files

  4. #4
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    Thumbs up First Stike Plus..

    Funyoo,

    Can you modify the code to the following set of rules. Below is the attached equity curve for the past years. It can be used with all the G5 pairs with periodic optimization. Base of this system stands on catching the major weekly trends.

    In a forex challenge. this rules yeilded 1180% on a live account starting from Dec 07 to sep 09


    The ruleset follows....

    (This is for trading on the weekly time frame)

    1. 1.Before the market's open on Monday morning at 00:00 CST; you must know what the total range of the previous week was, (high - low = range) and multiply that figure by .30 to obtain the values which will determine our entry points for the next week----
    (example: EUD/USD: last week's range (Oct. 6-10, 2008) was 527 pips (high:1.3785,
    low:1.3258) Now multiply 527 x .30 = 158.1. Round up to get 159 pips. This figure is added to/subtracted from the open for your entry orders in the next step. .

    2. After Monday's morning open be ready to buy on a stop at the opening price + the quantity from step (1). Or, be ready to sell at the price on a stop of the opening price - the quantity from
    step (1).

    3. Now we will determine our position stoploss levels-
    Check back to step 1 to find the figure for last week's range. Following the example, the
    previous week's range was a total of 527 pips. Multiply 527 x .10 = 52.7. Again, round up to get 53 pips. If you get long you will place a position stop below the week's open a total of 53 pips (total risk in this example-- 159 + 53= 212) to protect your capital. The risk per trade will change every week.

    4. If you are not stopped out-- wait for the open of the next weekly bar, which would be the next Monday morning at 00:00 CST. (For a short trade, reverse these instructions) If exiting at the open of the next week would result in a profit, exit the market. If not, continue holding until a succeeding week's opening price is profitable or you get stopped out for a loss. It is possible, but not very likely, to be in a trade for a number of weeks after entry.

    5. Keep monitoring and placing your current buy and sell prices for each week. Your new buy orsell orders for the week, under some rare circumstances; may be closer than a protective stop loss order for an existing position put on the week earlier that hasn't exited profitably yet.

    6. This is good. You can save money by exiting and reversing position at the closer price. If you get out on the week's open at a profit from a previous long or short position, make sure your buy and/or sell orders are ready to be entered or placed in the market for execution for the next week..
    Attached Images Attached Images First Strike Strategy EA - Kind Request-fs_eq-gif 

  5. #5
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    Funyoo,

    Wishing you and all forum members / fx experts a very happy New Year.

    I would appreciate if you can help with building this winner EA. A strategy based on Larry Williams method.

    Hope you can modify some existing Weekly Breakout EA to fit this rules.

    Since it has all the proven data and realtime statictics.
    No doubt this should be a clean realtime winner for 2011.

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