100 Pips trading system

[xlitang]

Steve,

This looks like a good one for EA.

[SteveHopwood]

Steve,

This looks like a good one for EA.

It would do, wouldn't it? The publisher is hardly likely to release an endless series of losses as an advert for the system.

Yet another system with yet another series of crap custom indicators that appear to do something magical but probably doesn't.

After building up several years experience of this stuff I can now state this with absolute certainty:

- The authour has cherry-picked those trades that were picture perfect.
- The custom indi's are merely agglomerations of the usual indi's, and that a lot of crap could be cut by simply using them. Your machine would also stop reducing its processing speed to a crawl.
- Said agglomerations are used to make the system look magical. It isn't.
- The more the colour gold is used in the doc, the less likely the strategy is to actually have anything useful to offer. This one is littered by this moronically-used colour.

Hmmmm. Not in the best of all possible moods tonight, am I? Ah well; I cannot be sweetness and light all the time.

Still, I have finally managed to work out one thingy that has lurked in the back of what passes for my mind for quite a long time. It is this: why do purveyors of crap strategies/sellers of $99 crap EA's use so much yellow in their documents?

I finally realised tonight. My brain interprets the colour as yellow. The writer's intention is that my brain should interpret said colour as gold. Gold = loads of money, which I would make were I to use said strategy/crap EA.

Ye Gods but I am thick. Why has it taken me so long to work this out? No need to answer that rhetorical question; we all know the answer and I suffer from the condition every day.

So, take this monumentally pathetic, turgid, third-rate, so-called 'system' and trade it successfully manually on demo, and the rest of us will take some notice. If you are not prepared to do this, then do what it probably deserves and consign it to your recycle bin. Then empty the bin.

[xlitang]

Using this strategy trading USDCHF and standard lot size , backtesting yielded more 300% return for $10000 deposit.

[joancb]

Hi Xiltang

what time frame did you made the back test?
Where is the EA? I can't find it in the .zip file

Cheers!

Joan

[jaggerdam67]

Hi, i'm new to this site and this is my first post. I received this system several months ago and was very sceptical to say the least. However, i loaded it onto several charts and went out for the day. I was amazed when I came home to find a couple of hundred pips accumulated. Every time I put the 100Pips system on multiple charts, i'm always amazed at the number of pips it racks up, and have recently found two EA's that trade this system. However the EA's aren't very good at closing the trades in profit. I'm still tinkering with the settings. I tried using Steve Hopwood's brilliant MPTM EA to just close when 200 pips had accumulated and this worked quite well but obviously was very haphazard, closing lot's of trades that had only just gotten going and leaving lot's of pips on the table. If anyone is interested in modifying the EA's I think this could be a winning system for both 4Hr and 1D time frames.

At present a trade is opened when Oracle Direction, Oracle Strength are the same colour (either blue or red) and cross up/down has occurred on the Oracle Move lines. But the EA will jump in regardless of how far back the conditions have been met, once it is switched on or applied to a chart, so it often opens a trade in the middle or toward the end of a move. What would be ideal, is if it could be modified to only open a trade upon a new instance of the conditions being met and only once the bar on which the conditions were met is at close. Also if an SMS alert could be added it would be very useful. And. If a more precise close method could be devised, possibly referencing the next lower time frame I think this would be a winner.

If anyone's interested in developing this promising system, please let me know.

Many thanks

J

It is here not allowed to attach decompiled code see here http://www.stevehopwoodforex.com/phpBB3/rules/#rule1.5 Cheers Tommaso

[jaggerdam67]

If any coders want to get involved PM me, I will pay to get this thing locking in profits

[jaggerdam67]

Testing this on the daily.

[jaggerdam67]

Still looking to get this coded, have a quote of $180 to get the EA rebuilt (in case anyone is interessted in providing a better quote).

Daily is looking good, however i've given up on the existing EA. It opens and closes many trades if the signal is intermittent. Below is what i'm requesting from the coder. If anyone here is interested in coding this please PM me.

Strategy / Content : At present a trade is opened when Oracle Direction, Oracle Strength are the same colour (either blue buy or red sell) and cross up/down has occurred on the Oracle Move lines. But the EA will jump in regardless of how far back the trade criteria have been met, as long as the trade criteria are still met, once it is switched on or applied to a chart, so it often opens a trade in the middle or toward the end of a move or opens and closes many trades if the signal is intermittent. What would be ideal, is if it could be modified to only open a trade upon a new instance of the trade criteria being met but only once the bar on which the conditions were met is at a close. The current close trade settings aren't adequate. Would it be possible to add a close criteria where by the EA references the same indicators on the next lower time frame for a reversal signal. So it could be off to allow a trade to mature and switched on to manage exit. So if you're in a buy trade on the daily chart, and all indicators on the 4H time frame show a reversal to a sell signal, the trade will close? Or if trading the system on a 4H chart and a reversal signal occurs on a 1H chart the trade will close. I've noticed that this can provide a much earlier exit strategy, locking in alot more pips. This, like the other close options would be an on/off setting.
I'd like a stop loss setting added, stop loss at level of Oracle Move cross.
I'd like to add an Option whereby if switched on the trade must be above/below two configurable moving averages. So for example if i'm using the system on a daily chart, i'd like to be able to set the EA to only open a trade on a signal if price is below/above 60 and 240 linear weighted MA's, applied to open.

Also this system needs an SMS alert added to notify when trade criteria are met or when a trade is opened and optional alert when two, or three of the conditions are no longer met. I want to have the option to use this EA to open and close trades automatically or just use it to alert via SMS when a trade set up/close signal occurs, so that I can use it either on autopilot or manually. Attached are the manual system and the EA. Please let me have a quote. Many thanks Joel

[SteveHopwood]

Joel, I refer you to this post: http://www.stevehopwoodforex.com/phpBB3/viewtopic.php?p=7269#p7269 and seriously suggest that you stop banging your head on this particular brick wall.

Only a suggestion mind. Feel free to keep banging. Just don't expect any more interest than has already been shown here. The rest of us recognise this sort of stuff for the crap it is.

Still looking to get this coded, have a quote of $180 to get the EA rebuilt (in case anyone is interessted in providing a better quote).

Daily is looking good, however i've given up on the existing EA. It opens and closes many trades if the signal is intermittent. Below is what i'm requesting from the coder. If anyone here is interested in coding this please PM me.

Strategy / Content : At present a trade is opened when Oracle Direction, Oracle Strength are the same colour (either blue buy or red sell) and cross up/down has occurred on the Oracle Move lines. But the EA will jump in regardless of how far back the trade criteria have been met, as long as the trade criteria are still met, once it is switched on or applied to a chart, so it often opens a trade in the middle or toward the end of a move or opens and closes many trades if the signal is intermittent. What would be ideal, is if it could be modified to only open a trade upon a new instance of the trade criteria being met but only once the bar on which the conditions were met is at a close. The current close trade settings aren't adequate. Would it be possible to add a close criteria where by the EA references the same indicators on the next lower time frame for a reversal signal. So it could be off to allow a trade to mature and switched on to manage exit. So if you're in a buy trade on the daily chart, and all indicators on the 4H time frame show a reversal to a sell signal, the trade will close? Or if trading the system on a 4H chart and a reversal signal occurs on a 1H chart the trade will close. I've noticed that this can provide a much earlier exit strategy, locking in alot more pips. This, like the other close options would be an on/off setting.
I'd like a stop loss setting added, stop loss at level of Oracle Move cross.
I'd like to add an Option whereby if switched on the trade must be above/below two configurable moving averages. So for example if i'm using the system on a daily chart, i'd like to be able to set the EA to only open a trade on a signal if price is below/above 60 and 240 linear weighted MA's, applied to open.

Also this system needs an SMS alert added to notify when trade criteria are met or when a trade is opened and optional alert when two, or three of the conditions are no longer met. I want to have the option to use this EA to open and close trades automatically or just use it to alert via SMS when a trade set up/close signal occurs, so that I can use it either on autopilot or manually. Attached are the manual system and the EA. Please let me have a quote. Many thanks Joel

[jaggerdam67]

Thanks Steve, I had thought that too when it arrived in my inbox last year as a freebee. But as i've said, every time i put it on multiple charts, I see alot of pips accumulating. I just can't help thinking that with some tweaks and adjustments this system might be made to lock in some profits.