speki posted:
    Please have a look at the Insert menu of your Metatrader. You can put text labels and many other things on the chart.
Also, I think you swapped the long and short entry levels? Long at 61.8%? It's at 25 % on the chart.

Ah, thank you for pointing that out. I was kind of in a hurry and didn't even think of using the text labels

You're right about me inadvertently switching the entry points!

It's suppose to be--

LONG- previous candle close > 50-SMA. Entry point <=25.0% Fibonacci level of previous candle. Stop loss = 61.8% Fibonacci level of previous candle. Take profit = lesser of SL x 2 or 5-period ATR.

SHORT- previous candle close < 50-SMA. Entry point >=61.8% Fibonacci level of previous candle. Stop loss = 25.0% Fibonacci level of previous candle. Take profit = lesser of SL x 2 or 5-period ATR.



speki posted:
Well this is fairly simple, shall I say almost mechanical, not sure why none of the MQL geeks came up with a profitable EA?
But since it should be traded on the daily, you could put in the limit orders once a day manually, if you're sure it's profitable.

Only one coder worked on it. At first it was horrible but improved when we made 'one trade/day or none' rule. We discussed grouping the profitable trades to see if they would correspond with a RSI or Stochastic etc

Yes, the system is designed to be traded manually, I was just curious how it would perform as an EA.
Basically you spend 10-15 minutes a day max looking at charts, then either place limit order or stay out for the day.
Number of winners and losers are 'supposed' to be 50/50, with the size of winners larger. Huge gains are not a priority of this system. It's generally meant to be a quick and effortless way of gaining about 10-15% a month.

speki posted:
Anyway, what position sizing do you recommend?



Well, the position sizing should be set according to your own money management rules. But a good risk/reward rule for this system is to only trade ten times your account balance (balance, not equity).

So if you have a $10,000 account then you would trade 1 lot on every trade, $20,000 then 2 lots, etc. For experimentation and testing purposes it's good to start out with 0.10 position sizes just to get an idea of how it works.

It is designed to be used on the EUR/USD, GBP/USD, USD/JPY, and AUD/USD, in that order.
Have only tried it thoroughly on the Euro.

speki posted:
    Aren't we talking about this EA?

http://forum.mql4.com/40327/page2

speki posted:
    Aight, peepingtom. I can't help you with the code, but lemme ask - how did you get that supposed monthly 10-15% profit figure? Where's the system from anyways?

I got the figure from someone who has actually traded the system live. The system came from a former bank trader, and as far as I know you can't find it online anywhere (?).

speki posted:
    I swear to God I've recently read about a 'former bank trader' who shared his manual system here. Too lazy to start sievin thru the posts. You could've saved us all some time Sean if you tell the whole story. Why did that other chap call you Sean anyway? I don't see 'Sean' anywhere in your profile or here in the thread.


I actually hesitated in saying 'former bank trader' because all the systems seem to come from 'former bank traders,' when we ALL know that's a bunch of baloney. I got the system by word of mouth offline, that's the whole story. So I don't know who or what or where exactly it came from. I know it hasn't been shared here already though.

I had Sean as part of my username but then just decided to keep it all Splexin. Sounds cooler

Lenka almost looks/sounds like Katy Perry