EurUsdcountertrend_v3

Default image
EurUsdcountertrend_v3 trades Eur/Usd against the trend. Trading against the trend can be a powerful forex weapon, but for most traders it is hard, because it feels unnatural and wrong to trade the other way when a pair is strongly bullish or bearish; therefore it is good to have a robot to do this trading for you. This strategy will trade against the trend when the pair is above 60% RSI_14 on the daily timeframe - above R1 but below R3 on Fibonacci Pivot Point hourly timeframe; then it will execute a sell position. Below 40% Daily RSI_14, and Fibonacci Pivot hourly between S1 and S3 it will buy. The strategy looks at 10 second candles because there are few opportunities for breakout-countertrading because of the strict parameters the strategy must comply to before opening a position. This way the strategy gets the most trades in: an average of 45 trades a month in this version of the strategy, taking small profits of 5 pips on retracement every trade; Sl is set at 200 pips and slippage at 5 pips to enter as much trades as possible. I backtested a year and the strategy made a profit of almost 650% Almost the same strategy as last month - my strategy did not start until 11-4 because of Duka technical issue and I missed 8 trades. If all trades were executed I would still fall short of minimum required trades, so this time I have set TP to 5 pips, allowing the strategy to open more trades (an average of 45 a month over a year - instead of 30 in the case of TP=8). I run this strategy in my live account too because it has only lost two trades to SL over a year, and has made a profit of more than 600% - I have set the TP to 5 in my live account too. Maximum profit is achieved with TP=8, but I feel that market in general is narrowing, and more trades at TP=5 seems better now in current market conditions (I could be wrong - but this is a feeling I have to follow - and profit still remains high) In my live account I have set the position amount at 0.01 for every $1000 in my account - so, $2000 means 0.02 milj. (or 0.2 lots) for example, this way I can take a loss of two consecutive SL's maximum, and still be alright.
Version: Date: Status: Description:
2 12.05.2014 Not running EurUsdcountertrend_v3  Download
1 29.04.2014 Executed EurUsdcountertrend_v3  Download
orto leave comments


(few words about added changes)

(example: 1.1, beta, alpha)