One Week Of Trading With OndaFX 4


Ciao a Tutti,

and first of all thanks to the great response to the new OndaFX EA :-) Today we have connected to MyFxBook a FxPro account where OndaFX is running since 1 week. Here is the link:

http://www.myfxbook.com/members/pimpmyea/ondafx-h1/616495

This is a 10K USD account with OndaFX running on the hourly charts of EURUSD and AUDUSD with the suggested settings and 1 minilot as the base lot size for both pairs.

I’d like to show some price action of EURUSD and AUDUSD over the last week in order to explain the “breakout entry rules” of OndaFX.

EURUSD uses “rule 1″ for its entry, that is the close of 1 candle must be above the upper Bolliger Band for a Short trade or below the lower BB for a Long trade:

On the contrary AUDUSD uses “rule 2″, that is the close of two consecutive candles must be above the upper BB for a Short trade and below the lower BB for a Long trade:

There are several “entry rules” and “re-entry rules” coded into OndaFX and they are exposed in the input settings: that means that through backtesting we can assess the optimal strategy to be used for each pair.

Another important input setting of OndaFX EA is the ATR multiplier used for the dynamic take profit level: we have found that 3*ATR is a fairly good value for EURUSD, while 4*ATR is more appropriate for AUDUSD.

A feature of OndaFX is the ability to hedge trades according to opposite breakouts of the Bollinger Bands. As an example the last two trades executed on EURUSD (they are currently open during the week-end) have formed the following “positive hedge” scenario:

In this case OndaFX has virtually locked in a profit of +47 pips. The short and long trades will be closed independently from each other during the next trading sessions, however at this point the trader may also decide to manually “close by” these two trades and pocket the 47 pips 😉

Right now OndaFX is available at a special promotional price. Just remember to use this 33% discount coupon (only valid until for the next 48 hours or when the first 100 licenses are gone):

PIMP-6SC1-ONDA

Grab your copy with a 33% discount before the last 25 licenses are gone! 😉

 


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4 thoughts on “One Week Of Trading With OndaFX

    • Paolo Post author

      Hi Andrew,
      because the “re-entry” rule that we use for EURUSD is a closure above/below the median line of Bollinger Bands. There is also another condition for opening additional trades: the distance from the previous trade must be larger than a multiple of ATR (this is another input setting).

  • William

    Hi, I have read all your explanations, but what will happen after the second trade if the price go back in the wrong direction, are additional trades opened ? Is there a security stop loss that can be set at a reasonable distance without compromising the profitability of the EA ?
    Thanks.

    • Paolo Post author

      Hi William, according to default settings the EA can only open 3 trades in the same direction, however the user can decide to let the EA to open up to 8 trades. We have backtested the EA and found entry/exit rules in order to have max 3 trades in the same direction, max 25% floating DD and expected 100% yearly return. The user may choose a more conservative money management and set the “stop_loss” input parameter for a better risk management.