Quote:
omelette
Senior Member Join Date: Jan 2006
Posts: 1,070
I've just realised I do not even know what the strategy is - could you outline exactly what is involved, as it's easier to know what the EA should be doing, rather than trying to work it out from the code - entry conditions I understand, but are you scaling into a position, semi-martingale-style, and waiting until a certain dollar value is achieved, or are losers closed out???
Also, is the EURCHF problem in addition to the lot-sizing bug?
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Omelette,
The system is very simple (hence its name). It is based on the daily candle close.
Entry for a short position:
If the candle closes below the SMA (currently set @ 20), below the PSAR (currently set a default), and the previous 10 day ADR is > 50 pips then an entry for a short is made on the open of the next daily candle.
Entry for a long position:
If the candle closes above the SMA (currently set @ 20), above the PSAR (currently set a default), and the previous 10 day ADR is > 50 pips then an entry for a long is made on the open of the next daily candle.
Stop loss & take profit:
I have both of these set to 100 pips giving a 1:1 risk/reward ratio
Money management:
The mm is designed to increase lot size by a factor of 1. It increases the lot size after a loss and decreases it after a win. Just image going up and down on a latter eventually returning to the ground when the job is finished.
Notes:
The system should have only 1 trade open per pair at any given time (contingent on all indicators agreeing of course). A new trade in that pair can't be opened until either the take profit or stop loss has been hit for the current trade. I am counting on our win rate to be 50% or better over the long haul. If this is the case, then our mm will recover the losses along the way.
I hope this summary gives you a good overview on how the SDS - simple daily system works.
