Continuously traded Double in a Day Forex EA

 Continuously traded Double in a Day Forex EA

Continuously traded Double in a Day Forex EA

INTRODUCTION

Since our return to trading after a trader’s summer break we have been spending a lot of time trading the Double in a Day EA. The Double in a Day EA is a Forex Tool used by reasonably experienced traders to double their Forex account in one trade when they spot a potential volatile trade. The concepts can, not only more than double your trading account in 1 trade, but can generate considerable 7 figure growth when used in a sequence of successful trades.

It is a bit like fishing used to be. You need to be in the right place at the right time to catch the Double in a Day trade. To catch a big trade you sometimes have to fail 3 to 6 times and be really patient. Some traders are report good trades, however many do battle. We are currently publishing charts of successful trades to help traders identify trading conditions which may lead to successful trades.

DISCOVERY

During our trading we discovered good news!!

There are settings and currencies that are successfully when being traded on a continuous basis in any direction.

This discovery is very important as it could change the EA to a simple set and forget EA.

Why is this possible?

The Double in a Day EA can provide huge return on risk ratios. Ratios that allow you to be profitable even with a 95% failure rate. You make so much profit from a successful deal that it more than covers your losses.

Now we need your help, opinions and input to make the Double in a Day EA the best EA ever.

 

INITIAL TESTING PROCESS

If you would like to contribute to the analysis and testing of the changes to the Double in a Day EA please please read on:-

For this purpose we are using 6 currencies and buying on one chart and then selling on the other. So the EA is running on 12 charts for every setting / strategy.

The currencies are EURUSD, GBPUSD, AUDUSD, EURJPY, GBPJPY, AUDJPY

We are using 4 strategies

  • Using a 60 pip trend to make a 50% gain
  • Using a 85 pip trend to make a 70% gain
  • Using a 100 pip trend to make a 100% gain
  • Using a 130 pip trend to make a 100% gain

So we are running the EA on a total of 48 charts continuously.

For more details about the actual settings used please use this link:         DIAD Settings

 

PURPOSE

The purpose of the testing is to see overall:

  • Which currencies are better than others
  • Which settings are better than others
  • If positive results are being generated on a continuous basis.
  • What filters (changes to the DIAD EA) we need to introduce to improve results

RESULTS SO FAR

The results of the 4 settings are reflected in the accounts below. When going into more detail on each of the trading accounts using the analysis provided by FX Blue one can find currencies and directions that are profitable.

http://www.fxblue.com/users/diad50

http://www.fxblue.com/users/diad70

http://www.fxblue.com/users/diad100by110

http://www.fxblue.com/users/diad100by130

 

ANALYSIS OF RESULTS SO FAR

FX Blue provides great analysis.

When clicking on one of the links above you will review an initial overview of the current up todate live profitablity

FXBlueinitialoverview

 

When clicking on the STATS button on the menu you are presented with many detailed analysis options.

 

FXBlueoptions

 

These options can provide incredible information such as by clicking the “Sym+Dir” tab you can see that the GBPJPY, GBPUSD, AUDUSD and the EURJPY are profitable in TOTAL (buy and sell directions) no matter which direction you trade. You can also see that the EURUSD is the worst currency to trade.

 

DoubleinaDayCurrencies

When clicking on the DoW (Day of the week) tab you can see that Friday is a terrible day to trade and that Wednesdays are great

FXBlueDayoftheWeek

By using the Hour (Time of day) tab you can see the times during the day losses are made and more importantly the times when profits are made. The trading account time is GMT.

 

TimeoftheDayFXBlue2

 

VIEWING ALL TRADES

To view all the closed deals of any of the accounts used simply click on closed orders after clicking on the links

closedorders

INITIAL CONCLUSIONS

So the initial analysis tends to indicate that there are some changes required to the Double in a Day EA to make it more profitable than it is.

These are:

  1. We need a time of day setting which will allow us to tell the EA to only enter initial deals at certain times of the day
  2. We may need a day of the week setting which will allow us to tell the EA not to enter initial deals on certain days.

 

YOUR INPUT

So this is where you come in as a Double in a Day owner:-

When looking at the great information provided by FX Blue do you see any other changes we need to make to the Double in a Day EA to make it continuous.

  • Are there more currencies that need to be considered?
  • Are there currencies that can be dropped?
  • Should there be more settings tested?
  • etc. etc.

 

 IMPLEMENTING THE CHANGES

  1. After we have had input from existing clients we will specify the changes to be made to the existing Double in a Day EA to make it a continuous traded EA.
  2. Once the changes have been made we will do high level testing to make sure that the changes are functionally doing what they should do.
  3. Using the MT4 Strategy Tester we will back trade the EA over a year or 2 to see if it produces robust results – this could result in us going back to step 1.
  4. If robust, test identify appropriate currencies and settings and will release this as a free upgrade to existing owners. New purchasers will pay a considerably high price for the EA.

 

Please use the facilities below your your input

(Your input will be highly appreciated)

 

52 thoughts on “Continuously traded Double in a Day Forex EA

  1. Giovanni

    I bought this system one month ago ‘….and after tryng every day to find trades , in my opinion if you are luky you can have just one winning trade doubling your account in one month and in the oder syde you hav had a lot of sl at the end you don’t have any gain or may be you finisch the month with losses …….i ried my best but Always stopped out …..stop loss are too short on all topup……..

  2. Mark

    Hi Alex/Tibor

    For the next upgrade, did you consider the option of being able to trade long and short at the same time with the same entries using the straddle function. Be it using either a market entry or price level?

    Mark

  3. info@expert4x.com

    Thanks for that suggestion – Will look into that

  4. Mark

    Hi Martin / Alex
    Yes, this is what I am finding when you go long and short at the same time. However, putting the entry distance to one side for a moment, when placing two separate trades I still struggle to grasp how the recent articles can ‘guarantee’ x’ number of winning trades (strategies) in a row. The article is written that suggest at least one of the legs is a winner… but a break even or close out at 1 pip is still classed as a winner. So these guarantee are a bit of a misnomer unless anybody would like to shed some light on something I might be missing. Or maybe I am wrong to assume the winning leg will will always be profitable to cover the loss.
    Cheers
    Mark

  5. sanad

    hello
    I do not have diad ea but what I can say about volatile market I use parabolic sar to catch fast changes in market
    for me the bad day for indicators use is tuesday that day always stand in the way of indicators signals espically in the afternoon

  6. Martin

    Yes, that is what I am doing currently (no re-enable though). On some days both trades of the straddle fail.

    If set to 0 pips only one would fail which means that the loss for the day is reduced by 50% (ideal trading conditions).

    But the new option to set a specific day and time will be useful I am sure.

    Thanks.

  7. Mark

    Hi Alex, Re Martins request to lower the minimum distance for the straddle entry from 10 to 0. I see you have altered in to a minimum of 3. Any chance this can be set to zero.
    A continuous strategy i would like to trial is being able to go long and short at the same time. Using the straddle function and disabling the OCO. By setting the number or re-entries to say 3, would enable 3 bites a the cherry.

    Cheers
    Mark

  8. Martin

    Can you please consider modifying the minimum distance for straddle trades of the DIAD from 10 pips to 0 pips?

    I am currently testing a continuous trading approach (straddle every day, same time, based on volatility and liquidity).

    Zero pips would reduce overall loss considerably I think since one trade would reach breakeven if the other direction hits the stop loss.

    Thanks

  9. Ken

    H LINE OR T LINE TRIGGER:
    Hey Alex and Mary, how about diad price trigger being a horizontal line or trendline trigger if desired in addition to the current number option, this is really easy in code terms, i would not use a continually resetting diad at random prices but i would use it if it only bought at my S&R lines which would allow auto channel trading or box fading, i am very definite where i trade and since this is a tool for experienced traders it would be useful for continuous methods or those of us stuck back in the old days trading manually.
    The DiaD settings would still apply for adding and maybe you could allow the first trade to complete beyond the next line or close at it and re-open a new diad, it wouldnt take much more thought or just give an error message and tell trader to reduce target size to comply with distance to next?
    You have said it yourself that the best DiaD trades come from channels, you could leave the Diad running and adjust channels as the future becomes clearer, this way you would be auto trading the evolving market, there are also indicators that place channels and lines automatically as well so why no let Diad auto trade them.
    Logic: =if(CURRENT=HLINE(or tline), BUY (or sell), Else nothing)

  10. Alex du Plooy Post author

    The transaction happens immediately when the previous transaction closes successful or at a loss. That’s how a continuously traded EA works.

  11. Alex du Plooy Post author

    Thanks

    The hard facts of the analysis of the data is possibly of more important that gut feel – It might be an idea to try to quantify your feeling by running some tests using the Strategy Tester. Try to optimize the settings for instance.

  12. Alex du Plooy Post author

    By adding your opinion of how the EA should be changed to make it a more profitable EA using the analysis provided

  13. Alex du Plooy Post author

    Great news Joju

    Do you want to try to run the GBPNZD for 1 year for each of the 4 strategies.

    That would be interesting

  14. Alex du Plooy Post author

    So we would have to expand the EA to calculate the daily pivot points. The EA would either straddle or enter the market when the price reaches the pivot points. Sounds good would you like to write the logic for that.

  15. Alex du Plooy Post author

    One of the problems with calculated outcomes in that they ignore the physiological aspect of trading. If you chances are success are say 1: 4 and your experience 3 losses in a row you start losing faith and confidence in the odds. The other problem of introducing specific trading techniques such as straddling on a continuous basis or using round numbers is that you no longer trade the DIAD method you start trading the other technique. With most risk return ratios giving 20:1 or 25:1 risk return ratios the margin for error is so much bigger.
    Straddle trades need volatile markets to succeed and the risk of both sides being negative is high – especially when brokers are widening spreads at volatile times.
    Straddle trades are worth pursuing:-

    Would you like to write the logic you want the EA to follow

  16. Dawid

    Man… and this is the solution! The main problem of trading on H4 timeframe are candle wicks, which can easily get you out of the market. I completely forgot about the re-entry function, so now for me the problem is solved. Thanks a lot! 🙂

  17. smarttrader

    ea also has a price option. Set the time to 0 and use the Entry Price. if i set the time to 0 then ea set time to 00:00 for every day. i want without time only when price reach pending order will be placed any time in that particular date or every day.

  18. Davide

    I think you can overcome the problem by setting “Number of re-entries allowed after stop outs” a number allowing to arrive at the stop level you requested. For example if DIAD have a stop 12 and your ideal stop is around 30-35, you can set a value of 3: took the first stop, DIAD open another position after 12 pips and another at a distance 12 pips. In this way it can also happen to get a better entry level.

  19. Tomi

    Out of the 6 pairs, you are selling one chart and buying the other. But where are you buying/selling for this testing? London open or new day bar?
    what is the method of such a test?

  20. Siddhartha

    Hi Alex and Mary,

    You have been doing an excellent job in updating the EA to do even better than what it currently does. Myself being a office-goer, hard to monitor the chart in 5/15 minute time frame and take a trade. But if you come up with a set and forget mechanism to really trade on its own, then that would be close to a holy grail! Could I request you that the full procedure is documented properly so that traders can use a flowchart to put the trades based on set criteria and do not have to reinvent the wheel every time to place a trade. Or may be you can consider starting something like a signal service indicating when market is likely to offer an opportunity to enter a trade along with trading parameters for a desired result. I will happily subscribe to such a service if that does not require me to stay glued to the computer for a prolonged period.

    Many thanks,
    S

  21. Ken

    There would be a couple of small changes you could make to run it continuously without judgement that would be a blend of the GTM and DIAD EAs, when each one came out of beta I thought the same thing but I knew you had moved to sell one to a broker/fund so thought those ideas went out the window at the time. Probably the best thing I could suggest is a “do not go short above this price or do not go long below this price” option for directional set and forget, the complete opposite to what everybody else implements which will automatically put the system in the 5% Rothschilds arena.
    You can link EAs to news days specific for each pair too using a feed like FF, a few EAs have done this in the past, basically it is the same as “=if(red news, trade,else don’t)”.

  22. Dawid

    For me there is only one “problem” with DIAD EA – if you want to earn a really good money with it you need to trade with a very tight SL level (not more than 10-15 pips). This means that your entries must be perfect, what is often very difficult. If it would be possible to increase SL levels to 30-40 pips without reducing the gains too much, then using DIAD EA would be easier. I think that many traders will agree with me, because each trader feels more comfortable when he invest with a bigger SL level. You can fix that problem if you have a great support / resistance, trendline or trend channel indicator – then it’s a child play. But without these tools you need a bit of luck to make a good trade.

    Also please check EURCAD, GBPCAD, GBPNZD and EURNZD pairs – they have a very good volatility.

    Greetings,
    Dawid

  23. Michael M.

    I agree with Ray. It would be the ‘Holy Grail’ to discover something that would double your account Monthly, but this could actually be a weekly DIAW EA. Honestly the DIAD concept is very intriguing but might be too much risk for most of us.

  24. Eduardo

    Alex, I guess your reply also applies to my post above on straddle trading. I do realize that the idea I posted is not for a condition of putting the EA to work 24×5 in the way you proposed it to be, but if we could add some filters as when the EA straddles we could as well leave it on forever. The principle lies in automating the identification of straddle opportunities (high volatility markets with enough range). If it works, why not considering it as usable strategy? We can limit the loss on the losing leg and break-even on the other leg with the DIAD, which makes the concept feasible. Thank you and sorry to bother with this again.

  25. Joju Quejada

    I can do strategy tester testing! I haven’t done so in some time, but can ramp relatively quickly with tick data if required.

    Thanks.

    Joju

  26. Alex du Plooy Post author

    It also has a price option. Set the time to 0 and use the Entry Price. Remember the function of the EA is to add lots on a risk free basis to successful deals – not to do everything else a trader wants to do.
    Continuous trading (24 x 5 ) has nothing to do with straddle trading (which is a one time event ). I think many have missed the point completely. The point is to find a continuous trading solution or not. Not to debate specialist changes to the existing EA for event (one time) trades.

  27. fixer

    Hi Alex,
    I’ll be off for 3 weeks soon but I agree that DIAD has the potential to be continously traded. Here are some of my thoughts:
    “continuously”:
    1) you mean unattended (not 24/7) I presume?
    2) Do you mean unidirectional or bidirectional?
    statistics:
    I understand your stats are the total of good and bad combinations of pair/day/hour?
    If so you run the risk of too much influence of the bad combinations and not enough influence of the good ones.
    event driven moves can be pair specific
    3) opportunities for DIAD are best when a pair changes from low vola to high vola, like news, London Wake Up etc. Have your ever tested an indicator that detects the silent changes, like the Bollinger Band squeeze of TradeTheMarkets.com (bollinger bands (20,2) inside Keltner (20,1.5) =low vola, can be a proxy for a vola nurst)?

  28. Alex du Plooy Post author

    Good ideas on Days to trade – remember that takes an element of judgement – trying to run the continuous EA without judgement because than we are back to the problem that you need to be an experienced trader to use the DIAD EA.

  29. Alex du Plooy Post author

    Good point about the DOW and Hour data – so should be disregard that information completely – what are the alternatives. The 50%, 70%, 100% and 100% are not computed – they are the goals of the various strategies.

  30. Alex du Plooy Post author

    Yes sounds good – then again we could could test 20 currencies and gold and some indexes to get a better picture. It could be more meaningful to do the testing using the MT4 Strategy Tester – that way we can test 20 instruments for a year each in 2 days. Anybody with Strategy Tester experience willing to do a few currencies?

  31. Alex du Plooy Post author

    Yes we juggle many balls in the air at the same time. They are separate topics but some how related. the DIAD top up technique is critical to the achievement of above average gains on transactions. Transaction that may feed the 6 in a row concept.

  32. Alex du Plooy Post author

    Yes – that is the way it has been designed – to be a trading tool for traders who ALREADY have a method of identifying volatile trades. IF you don’t already have such a method you may not be that successful. We do show the methods used for successful trades – study those very carefully.

  33. Ray

    My gut feeling is that it may be sensible to have a lower target option as well; for instance, have a 40 pip move to make 25% or 30% profit. You wouldn’t need many of these to double you account, and they may be easier to achieve.

  34. Manfred Braak

    Hello Mary,
    Hello Alex,

    I have big problems to understand, how you DIAD will work in reality. So my proposal is, that you record some of your own tradings and declare the method and the way, you trade, in some webinars.

    I will have no problems to buy the EA but I fear, that then I have an EA but cannot work with it successful.

  35. Ged

    Hello Alex
    How do we contribute to the analysis and testing of the changes to the Double in a Day EA ?
    Regards
    ged

  36. George

    What ever happened to 4 to 6 guarantee wins ie Sarah’s method? Is this something different all together now?

  37. Christoff

    I don’t know how you decided on the list of 6 pairs, although it looks like you selected the EUR, GBP and AUD against the USD and JPY. So it seems as if not much consideration is given to volatility or lack thereof for the different pairs. For instance the ADR(5) for AUDUSD is only 36 pips and ADR(10) = 48 pips. EURUSD ADR(5) = 55 ADR(10) = 57 PIPS.
    The point is: would it not make sense to consider the ADR of a bigger # of pairs and then select those with better ADR as potential candidates. Like EURAUD, GBPAUD, etc. I know spreads may be a factor on some of the more uncommon pairs but then some brokers now have better spreads and that may mean that those pairs could be considered.

    Regards,
    Christoff

  38. Joju Quejada

    Hi,

    I think the DOW and Hour data in FXBlue are CLOSE days/time, not OPEN days/time. You cannot conclude filtering trades by starts will help.

    Also, I couldn’t compute how the gains of 50%, 70%, 100% and 100% were computed.

    I have downloaded the data from the DIAD100by130 and will look at these closely in the next few days.

    Thanks for the initial look.

    Joju

  39. Ken

    Don’t change the current functions too much Alex (if anything it could do with stripping of some controls), if you do the let us keep an old version handy, i go on longer learning losing streaks whenever i handle a new system:( because it goes to my short term emotional memory where it then takes time to reach the depths of long term second nature trading.
    With day of week success i would suggest linking it to red news specific days as much as i detest news traders but that is when the fire is added to the fuel, i do not trade the news, rather i trade the fools that do; http://prntscr.com/4e8um6.
    I am of the same opinion as Mark above, pretty sure i tried a same price straddle and was barred from doing it, my trade RR is 6:1 so i don’t mind a loser every time on average, sometimes 3, it can still work for continuous trading.

  40. David

    I think you are on to it. Time of Day/day of week seems to be quite consistent for some pairs. I am also trying out max 30pip trend on eurusd and usdchf because the range seems to have come down over the last 3 or 4 months. DiaD is an amazing concept and worth playing with but as you observed, it does take a bit of work to get good results. Because of my time zone I miss a lot of potential entries. I am wondering if it is worth considering some kind of entry screening by indicators that would allow an automatic approach. May be this would make the EA too data heavy??

  41. smarttrader

    We need EA to only enter initial deals at pivot point.
    e.g. current price for gbpjpy 172.00, and pivot point for gbpy 172.50 and i want when price comes to pp 172.50, two pending order are placed one stop sell at 172.40 and one buystop 172.60. if one trigger cancel order.

    ea has this function (straddle (3) ), but with time option. i want without time limit and also expire option (e.g. with date and time if price not come will expire).

  42. Eduardo

    Another filter to enter besides the ADX accelerating would be not to trade near round numbers up to the 2nd decimal (1.35, 1.36, 1.37…).

  43. Eduardo

    Have you ever thought of a continuously trading EA that straddles the market? After reading Sarah’s achievements I was considering testing an alternative where I’d straddle (hedging account necessary) with DIAD EA if I can identify that the ADX is above a certain value and rising (which means there’s momentum). The idea is to at least break-even at the 1st top-up on one side at the same time the losing side has its SL hit. For example: $1,000 account, risk 50% of your account per side, aim for a 200% gain on each side. If you break-even at one side and SL at the other side, which is the worst scenario, you lose 25% of your account (on the losing side you lost 50% of half of your account). But if you can reach the 200% target on either side you are 75% positive as a whole. Having a 4:1 ratio trade (200% gain vs 50% loss) in a short trend is feasible with DIAD EA (e.g.: 40 pip SL and 60 pip trend). In this example, the losing leg lost $250 and the winning leg won $1000 (=200%) + $500 initial investment = $1500 gain. Your balance is then $1500 + $250 = $1750 = 75% gain. If you can get one of the sides to hit the pot more than 1/4 of the times, then it’s a profitable strategy. You can reduce risk by not exposing your whole account, knowing that you’ll always end up with a 3:1 reward to risk ratio in both positions combined. What do you think?

  44. Mark

    Hi Alex, I guess I was really looking for this to use as an entry point for the continuous trading. Is preferable to enter in the middle of a range or I suppose it may not make that much of a difference and or have any weighting to the probabilities of the trade given the continuous ups and downs. Just so long as its not trending.
    Mark

  45. Alex du Plooy Post author

    Thanks for that – your comment refers more to straddle trading and not continuous trading. I think the current setting allow for that. You can straddle at a particular price level or at a particular time. You would use the price level option.

    This Page is focusing on creating a continuous trading solution which is the main priority

  46. Mark

    Hi, Alex / Mary… Seems like you were just one step ahead of me 🙂
    The current EA allows an entry point (buy or sell) ‘x’ amount of pips from the current price with an OCO, but only at the same distance. What about if the EA was able to be set in order to trigger a trade ‘x pips long or ‘x’ pips short of the current price. Reason being if the currency pair is trading sideways as per the current USDJPY PAMM, then one would prefer to enter mid range right?
    Cheers
    Mark

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