GJ - H1 UP

Uptrend detected on H1... might get some pips.

Uptrend

Regarding to the system... there is nothing that I can say... unless uptrend has just began... and only buy signal recommended.

ref : GU, EJ and GJ

Market Sideways

From technical analysis, what can i see so far.... market currently indecision mode. EUR strenghten and EURxxx start to make big timeframe correction. JPY weakened and xxxJPY almost start to follow the same pattern as EURxxx.

USD weakened and EURUSD might up in mid term. ???

Summary : Market currently unpredictable and not suitable for trade. In my opinion USD weakness factor is not sufficient enough to convince the world market to go strong BULLISH.

Suggestion : In big timeframe sideways market, most of system which use several indicators to confirm BUY or SELL signal, normally became inefficient. And also in my opinion.... the effective way to trade is SELL on high and BUY on low until the event of breakout.

Market Overview

EURUSD
Trend : Sideway around level high 1.2761 and low 1.2607 (Range 154 pips)
Current Condition : Considered strong BULLISH at H1...
Suggestion : Since market remain BEARISH on big time frame, it suggested to enter SELL position when price reach around high level.

GBPUSD
Trend : The strong BEARISH remain on D1
Current condition : Strong BULLISH at H1 and the critical High level was 1.5044, 312 pips from current price.
Suggestion : The BULLISH has just began on H1 and we might enter BUY position to gain some pips. Or we might enter SELL position when price reach around high level 1.5044. Remember to trade on what you see and don't trade on what you think.

EURJPY
Trend : Almost same as GBPUSD, strong BULLISH at H1 but the major trend was down at D1. The high level 119.25, 100 pips from current price, while low level 117.01, 121 pips from current price. It might too late to enter BUY????


GBPJPY
Critical High 141.94, 492 from current price and Low 133.82, 318 from current price. The major trend remain bearish. BULLISH just began on H1, might considered as correction wave...

Summary:
The overall movement of price indicate that the market situation was indecision mode (refer H4) Major trend remain BEARISH (D1 to MN1) and currently did some correction (H1). Suggestion, SELL for swing and BUY for scalp.

Market Overview

11:25PM GMT+8

At the moment, strong downtrend detected on EURUSD, GBPUSD, EURJPY and GBPJPY... in longterm.

In H4 most likely SIDEWAY for a while

Enhance the interface of indicator

My idea to trade on volume and ATR

My First Succeed EA

Date tested : From 2008.05.01 to 2008.10.30 (6 months)
Symbol : EURUSD
Period : 1H
Initial : usd 100
Total Net Profit : usd 4606 (4600% by using compounding technique, equal to the initial usd1000 will generate usd 46,000)
EA Trade time : 24 hours a day and 5 days per week
Method : xxx
Accuracy : 87.50%

EA vs manual trade

Every system has it own rules to enter position (BUY or SELL) and to exit opened position.
Some of the advantages of using EA are as follows :
1 - The EA (program) won't forget once the instruction set into it.
2 - The program won't interfered by emotion.
3 - The program will open position on exact conditions.
4 - The accuracy of the system could be tested.

I assume that the market big timeframe only have two situations, Sideways and Trending. The good system will profit on good market movement and could pass or at least minimize loss on bad situation of market. And the system also must has lower risk of -ve floating.
That's why i believe that this EA will profit on long term.

p/s why i love to create ea? because i can test the strategy... and i have a vision to know the system will succeed or not in manual trade... no need to loss to get a lesson. It wasting time and money
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Project status : SUCCEED !!!
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