Topic: Dear Popov or some experienced-A 5-min FX deal for Daily EURUSD Chart?
Here is a generated method that doubles an account each year, tested on 3 years of fxsb data, and is so simple it seems to be one of those "5-min fx" deals? (i.e., no auto-trading nor 24/5 chart watching!) Correct me if I'm missing something.
Question on how this generator does "stuff": It says here "Required margin: 100.00 USD for each open lot", does that mean a mini each time? How can it be a full lot each trime for only $100 per newly opened full lot? Has to be a mini, right?
And down further below is this statement "Indicator Slots
The slots show the logic for the long positions only. Forex Strategy Builder automatically computes the proper logic for the short positions." What is this? Confusing. It says logics only for Longs, buuuut, it says too it will compute shorts, huh?
Please help with answers if anyoner can, and help see if this can be applied.
Forex Strategy Builder v22.214.171.124
Strategy name: Generated
Date: 11/16/2008 9:24:08 AM
Opening (Entry Signal)
Open a new long position or add to a winning one at the Upper Band of Donchian Channel* (34, 100).
Open a new or add to a winning short position at the Lower Band of Donchian Channel* (34, 100).
Closing (Exit Signal)
Close an existing long position when the market falls 874 pips or rises 662 pips from the last entry price.
Close an existing short position when the market rises 874 pips or falls 662 pips from the last entry price.
Additional entry** signals handling
Entry signal in the direction of the present position:
Add to a wining position but not to a losing one. If the position is at a loss, cancel the additional entry order. Do not exceed the maximum allowed number of lots to open.
Entry signal in the opposite direction:
No modification of the present position is allowed. Cancel any additional orders which are in the opposite direction.
Always trade a constant number of lots.
Opening of a new position - 1 lot.
Adding to a winning position - 1 lot. Do not open more than 20 lots.
The strategy does not provide a permanent loss limitation.
* Use the indicator value from the previous bar for all indicators marked with asterisk!
** The averaging rules apply to the entry signals only. Exit signals close a position. They are not allowed to open, add or reduce one.
Time frame: 1 Day
Spread: 5 pips (5.00 USD)
Swap Long: 1 pip (1.00 USD)
Swap Short: -1 pip (-1.00 USD)
Slippage: 0 pips (0.00 USD)
Lot size: 10000.00 GBP
Initial account: 10000.00 USD
Required margin: 100.00 USD for each open lot
Additional entry signals handling
A same direction signal: Adds to a winning position
An opposite direction signal: Does nothing
Maximum open lots: 20
Entry lots: 1
Adding lots: 1
Reducing lots: 1
Permanent loss protection
Permanent Stop Loss: None
The slots show the logic for the long positions only. Forex Strategy Builder automatically computes the proper logic for the short positions.
Opening point of the position
Enter long at the Upper Band
Base price - High & Low
Period - 34
Shift - 100
Use previous bar value - Yes
Closing point of the position
Exit at the Stop Loss or the Take Profit level
Stop Loss - -874
Take Profit - 662
Symbol GBPUSD Intrabar scanning Not accomplished
Period 1 Day Interpolation method Pessimistic scenario
Number of bars 948 Ambiguous bars 0
Date of updating 08/29/08 Tested bars 811
Time of updating 00:00 Initial account 10000.00 USD
Date of beginning 01/03/05 Account balance 32436.00 USD
Time of beginning 00:00 Minimum account 10000.00 USD
Data refining Switched off Maximum account 32436.00 USD
Minimum price 1.7048 Maximum drawdown 914.00 USD
Maximum price 2.1159 Gross profit 23350.00 USD
Average Gap 4 pips Gross loss 914.00 USD
Maximum Gap 87 pips Sent orders 3679
Average High-Low 139 pips Executed orders 41
Maximum High-Low 394 pips Dealt lots 70
Average Close-Open 71 pips Winning trades 5
Maximum Close-Open 329 pips Losing trades 1
Maximum days off 4 Win/loss ratio 5
Maximum data bars 20000 Time in position 54 %
No data older than 1/1/2005 Charged spread 175.00 USD
No data newer than No limits Charged rollover 1510.00 USD
Charged slippage 0.00 USD
Total charges 1685.00 USD
Balance without charges 34121.00 USD
Account exchange rate 1.0000