#### Topic: Hi I am new!

Hi to all of you!

I wanted to take the chance to introduce myself. My name is Lulu and I recently started with forex trading. I have found this interesting forum on my google search and have decided to register. I hope that I will learn some new things in this forum and besides this I hope I will get answers if I have questions regarding forex. I will definitely have a lot of questions.

#### Re: Hi I am new!

hello! welcome to the forums... i hope you will also enjoy the forum as much as i did!

#### Re: Hi I am new!

Hi All,

I too am new to FSB. Is there a beginners section where some example strategies are shown and explanations given how to construct a strategy? If I have some examples that show how it is all built up I can hopefully work it out from there.

The strategy I want to build and test is as follows:-

1) Detect Friday market close price.
2) Detect Monday market open price.
3) Decide whether price difference is up or down
4) Have variable choice to trade either in same direction as gap or in opposite direction.
5) Have variable SL, TP, TS all expressed in pip values.

If someone could please give me some clues how to start, I'd be grateful.

Many thanks,

Mike

#### Re: Hi I am new!

Hello Blott,

[Opening Point of the Position]
Day Opening
Enter the market at the beginning of the day
Base price  -  Open

[Opening Logic Condition]
Day of Week
Enter the market between the specified days
From (incl.)  -  Monday
To (excl.)  -  Tuesday

[Opening Logic Condition]
Moving Average
The bar opens above the Moving Average
Smoothing method  -  Simple
Base price  -  Close
Period  -  1
Shift  -  0
Use previous bar value  -  Yes

[Closing Point of the Position]
Stop Limit
Exit at the Stop Loss or the Take Profit level
Stop Loss  -  -200
Take Profit  -  300

This strategy does what you asked for.

1. [Opening Point of the Position] Day Opening - The strategy opens new position at the beginning of the day.

2. Day of Week This day is  From (incl.)  -  Monday   To (excl.)  -  Tuesday

3. The bar opens above the Moving Average (Simple, Close, 1) - the current bar open above the previous close. It measures the gap and rises buy signal when the gap is positive. (MA(1) and "Use previous bar value" is equal to the previous close price). Since we open a position on Monday morning only, the gap is between Monday Open and Friday Close.

If you want to open short after a positive gap and long after a negative gape, use:

[Opening Logic Condition]
Moving Average
The bar opens below the Moving Average
Smoothing method  -  Simple
Base price  -  Close
Period  -  1
Shift  -  0
Use previous bar value  -  Yes

4. The positions closes at SL = -200 pips or at TP = 300 pips.

#### Re: Hi I am new!

Hi Miroslav,

Many thanks for taking the time to explain that to me. Most of it makes sense, however, I have a few questions:-

1) You say "...the gap is between Monday Open and Friday Close". The gap is between Friday close and Monday open i.e. the weekend. Is this what you meant?

2) How do I reverse the MA conditions i.e. if gap is down BUY, and if gap is up SELL. I want to test which direction (with or against the gap) is more profitable?

5) How do I get FSB to perform back testing once I have entered all the condirtions? What do I press to get it working?! :-) How do I enter the dates I want to test between?

To recap:-
a) Strategy 1:-I need to measure the weekend gap direction and place a trade in the opposite direction to the gap direction (if gap is positive, sell. If gap is negative, buy)

b) Strategy 2:- I also need to select the opposite trade direction to a) above. i.e. if gap is positive, buy. If gap is negative, sell. Will I have to save them as two different strategies?
Can FSB do this?

c) Can I perform this backtesting during the weekend when the broker's server is closed?

Mike

#### Re: Hi I am new!

1. Yes, it is.

2. It was answered in the previous post (point 3)

3. Forex Strategy Builder makes instant backtest. You don't need pressing anything.

c) You can. FSB works with offline data. You can save the latest rates from a MetaTrader. See here Forex Rates.

#### Re: Hi I am new!

Hi Miroslav,

[Opening Logic Condition]
Moving Average
The bar opens below the Moving Average
Smoothing method  -  Simple
Base price  -  Close
Period  -  1
Shift  -  0
Use previous bar value  -  Yes"

If the above MA condition opens only sell trades when price is below the Friday close, and if:-

Moving Average
The bar opens above the Moving Average
Smoothing method  -  Simple
Base price  -  Close
Period  -  1
Shift  -  0
Use previous bar value  -  Yes

opens only buy trades when price is above Friday close, then I don't understand how it is possible to reverse those condition so that a down (negative) gap produces a BUY trade and a up (positive) gap produces a SELL trade.

Could you kindly explain it to me?

Also, I see no activity or results in my Balance/Equity chart window. Should I?

Cheers,

Mike

#### Re: Hi I am new!

You have to set the conditions for opening of long trades only. The program will use the opposite logic rule for the short trades.

[Opening Logic Condition]
Moving Average
The bar opens below the Moving Average
Smoothing method  -  Simple
Base price  -  Close
Period  -  1
Shift  -  0
Use previous bar value  -  Yes

means that when the current bar opens below the previous close, the program sends a buy signal. The same logic rules means that if the current open is above the previous close, the program sends sell signal.

All this is explained in the automatically generated description of a strategy.

#### Re: Hi I am new!

Hi Miroslav,
Ahh, i see where i went wrong. I was using two MA opening logic conditions instead of just using one and modifying whether it opened above or below the last bar.

I now get chart data.

How do I select the time over which the test is carried. i want to carry out a strategy test like in MT4 between Jan 2009 & Nov 2009? Do i now have to copy this file into FST and use it with an MT4 platform?

Cheers,

Mike

Popov wrote:

You have to set the conditions for opening of long trades only. The program will use the opposite logic rule for the short trades.

[Opening Logic Condition]
Moving Average
The bar opens below the Moving Average
Smoothing method  -  Simple
Base price  -  Close
Period  -  1
Shift  -  0
Use previous bar value  -  Yes

means that when the current bar opens below the previous close, the program sends a buy signal. The same logic rules means that if the current open is above the previous close, the program sends sell signal.

All this is explained in the automatically generated description of a strategy.

#### Re: Hi I am new!

Hi Miroslav,
My strategy seems to work but when I click on 'Overview' it tells me this is an empty strategy. What does 'empty' mean?

Over what period does this strategy apply? On the charts, what is the start date and stop date?
Are these the dates I have set in Data Horizon?

If the strategy is tested between the dates selected in Data Horizon, why do I need FST?

Cheers,

Mike

#### Re: Hi I am new!

The "Overview" comprises two parts:

• Author's description - Description;

• Automatically generated description - Logic and below.

It seams you have started building your strategy form the default one - "New". The description you see - "Empty strategy ..." is the description to the "New" strategy. You can clear it or write your own from the "Strategy Description" window (i button just above the strategy slots).

#### Re: Hi I am new!

Hi I would like to intro my self :
I am Octovianus Budijanto PRA, I am new on forex and this software... but i see this forum is very great....
Could any body from expert advice me how to strat for just short time to take little profit ? cause i can not stand all time with computer and metatrader  i just want do around i hours to focus and take just 10 or 20 pips ?

Thanks For this Forum ......
Brgds
Octo

#### Re: Hi I am new!

Hi Miroslav,
Thanks for that tip. I have renamed the strategy.
My next questions is - over what range of dates does this strategy run? Is it the time selected in Data Horizon? I have used the dates 1st Jan 2009 - 23rd Nov 2009 and ticked the 'Remove data older than'
& 'Remove data newer than' boxes, so I presume it will run the strategy between these two dates?

I'm starting to like your tester, I just need to practise more!

Cheers,

Mike

Popov wrote:

The "Overview" comprises two parts:

• Author's description - Description;

• Automatically generated description - Logic and below.

It seams you have started building your strategy form the default one - "New". The description you see - "Empty strategy ..." is the description to the "New" strategy. You can clear it or write your own from the "Strategy Description" window (i button just above the strategy slots).

#### Re: Hi I am new!

Hi Miroslav,
Where does FSB get its data from to perfom strategy tests?

Mike

#### Re: Hi I am new!

well, i guess there's no point in welcoming you guys, cause im the one new here! lol. hi guys, i just want to introduce myself before i can regularly participate in the forums.

i am James from Vegas. and i am a trader. lol.

#### Re: Hi I am new!

Hello. I am also new here. I am quite familiar with terms used in the FOREX industry as I have been an article writer on this niche for several months. I am looking forward to getting to know FOREX better in a different perspective.      play pokies online for fun

#### Re: Hi I am new!

hi,i'm from korea.

#### Re: Hi I am new!

I'm Athur, a totally newbie to this community. Nice to see you all and great to be a part of the community. Hope to get help from you, thank!

#### Re: Hi I am new!

Blott,
Welcome to the forum.
On my opinion, the strategy is artificial and in uses artificial parameters which are not valid on Forex and will vary from broker to broker.
In majority cases there is no gap between Friday close and Monday open unless some fundamental changes in politics happens. On some brokers like Oanda trade 24/7 you can see straight line between Friday and Monday.
The same with DukasCopy, it opens with the same price it closes.
Majority of gaps are artificial and based on delay from Broker side, for instance broker closes 2 hours before market closes on Friday and Opens 2 hours after market opens. In this case there is a gap.
if you want to trade the same direction market moves on Monday, it is Ok, I do agree it can be profitable strategy, but it is nothing to do with gaps.

Regards.

blott wrote:

Hi All,

I too am new to FSB. Is there a beginners section where some example strategies are shown and explanations given how to construct a strategy? If I have some examples that show how it is all built up I can hopefully work it out from there.

The strategy I want to build and test is as follows:-

1) Detect Friday market close price.
2) Detect Monday market open price.
3) Decide whether price difference is up or down
4) Have variable choice to trade either in same direction as gap or in opposite direction.
5) Have variable SL, TP, TS all expressed in pip values.

If someone could please give me some clues how to start, I'd be grateful.

Many thanks,

Mike

#### Re: Hi I am new!

haha i'm new too. but how come this intro has so many replies? hahahaha...anyway. welcome

#### Re: Hi I am new!

"hey guys...
i am new comer here so let welcome me...
i am just looking for some interesting things and i am pretty much sure that here  i will get them... share some interesting things with me........"

#### Re: Hi I am new!

Hello Friends
I am Hari from USA. I am new in forexsb community. This forexsb community looking very interesting to enjoy.I am very happu to meet you all.
Have a Good Day !

#### Re: Hi I am new!

Hello Hari,
Welcome in the community!

#### Re: Hi I am new!

Hello All
I'm Cathy, I found this forum on my google search and have decided to register too. I hope that I will learn some good things in this forex forum because i am still a neophyte in this industry.

#### Re: Hi I am new!

thebestlulu wrote:

Hi to all of you!

I wanted to take the chance to introduce myself. My name is Lulu and I recently started with forex trading. I have found this interesting forum on my google search and have decided to register. I hope that I will learn some new things in this forum and besides this I hope I will get answers if I have questions regarding forex. I will definitely have a lot of questions.

Yes definitely I am also quite new in forex. Thus many questions also run in my mind regarding forex market. WE all can help each other. Recently I have read this blog http://www.fx-insights.com/ regarding forex. I hope this can be helpful to someone.