Asian Session Run II

[Freddie]

This is an update of the 'Asian Session Run' thread that I started some time ago.

I am now in Malaysia, living on the wonderful island of Penang, the pearl of the east.

Well it was the pearl but fast becoming the 'concrete jewel'.

 

Back to the Forex element.

 

I am using the breakout of the first hour on my broker's chart (0000 - 0100).

This will be 2300 to 0000 hours UK time which is 2200 to 2300 GMT I believe. I am not concerned about the actual time, it is just the first hour of the day broker time.

 

GBP/USD pair

 

Trading by EA. I found this on FF complete with a text file explaining its use.

It was called the "3 Tier London Breakout" strategy posted by mer071898 and has progressed to a 5 Tier.

I am not sure of the ettiquite of posting EAs. It is open source. I shall seek advice.

 

I intend to be trading live after a short demo week.

===========================================

Update:

Indicator: Belongs to a post here

 hxxp://www.f0rexfact0ry.c0m /showpost.php?p=4089899[code] includes the instructions for setting it up. It has an error that appears on 2/4 decimal brokers not 3/5 brokers.

Change this bit of the address for the updated version correcting the error: p=4092635

Edited October 28, 2010 by Freddie

[Freddie]

Week One

 

It was my intention to be up early enough to set this in motion today. Unfortunately, didn't happen and I missed a good breakout.

 

http://i914.photobucket.com/albums/ac341/freddieforII/Asian%20Run%20II/ARII2510.jpg

 

It made all five TPs almost without a reversal. A total of 201 pips so far. There is always the chance of a retrace and a breakout of the bottom of the channel.

This is not too likely within the hours that I have set for this steup. Trading stops at 0600 broker time.

Edited October 25, 2010 by Freddie
Picture

[jamestan1978]

hi Freddie, how do you expand it to 5 tier as i know the EA has only 3 tier

[Freddie]

hi Freddie, how do you expand it to 5 tier as i know the EA has only 3 tier

 

This is the latest EA. It can be run on one trade; three or five trades etc.

The picture that I have put up is actually made by the EA, not the indicator.

 

Using the indicator you can view back in time to see what happenned. Using the EA, only the current session...as I understand it.

 

I don't have any great understanding of these things. I tried to alter it to deal with a 0800-0900, UK time breakout but it reverted to the overnight as shown above.

[Freddie]

Today was a good day! Started with a loss with the initial sells but made a bit above BE with the buys. The second set of buys really did well

http://i914.photobucket.com/albums/ac341/freddieforII/Asian%20Run%20II/ARII2610.jpg

[et_phonehome_2]

Thanks Freddie, gotta check this out now.... What's your experience when the pair is range bound?

[Freddie]

Thanks Freddie, gotta check this out now.... What's your experience when the pair is range bound?

 

If the 'binding' range was a little bigger than twice the 'blue marked' range we would make 24 as it retraced.

 

If it just popped out the top then retraced through the bottom then we get a double failure. There were a few of them in the first thread.

 

This EA has the ability to take trades a number of times if it retraces to the 'box'. Could come unstuck with that as well I have seen three break ups then downs giving 30 times the range as a loss.

[Freddie]

Interesting day today

 

http://i914.photobucket.com/albums/ac341/freddieforII/Asian%20Run%20II/ARII2810.jpg

 

Pretty much 'rangebound' but look at the 'scores' first is pips, second is cash @ .01 lots

0.0005 0.5

0.0005 0.5

0.0010 -1.02

0.0009 -0.85

0.0009 -0.85

0.0008 -0.81

0.0009 -0.86

0.0005 0.5

0.0005 0.5

0.0005 0.5

0.0005 0.5

0.0005 0.5

0.0005 0.53

0.0005 0.5

0.0005 0.5

0.0005 0.5

0.0005 0.5

0.0104 1.64

[Freddie]

Ended the week well. UNfortunately, I was out most of yesterday and forgot to do the pic of the day's trades.

[jamestan1978]

meaning the EA is quite dangerous without manual monitoring yah?

 

If the 'binding' range was a little bigger than twice the 'blue marked' range we would make 24 as it retraced.

 

If it just popped out the top then retraced through the bottom then we get a double failure. There were a few of them in the first thread.

 

This EA has the ability to take trades a number of times if it retraces to the 'box'. Could come unstuck with that as well I have seen three break ups then downs giving 30 times the range as a loss.

[Freddie]

meaning the EA is quite dangerous without manual monitoring yah?

 

You'd better believe it Jamestan! We need some code to cancel trades when they go two pips back into the box. Wish I was a coder!!

 

Today I traded the Asian Run with £$, €Y and $Y. Ended the day with $30 odd at the .01 level.

 

I tried 'move SL by mouse' but the EA ignored it. I will use a hot key 'close trades' tomorrow to try to get rid of the bad trades.

 

I am not concerned with having an EA to trade for me just want it to put on the trades with TP and SL.

 

Was about to close this thread, there is little interest and the EA only has one day of pics so unless I have time when it is all happenning, I lose the pics.