Folks, I was further verifying the trades as per the program output and found that there was an error in the way I was calculating the "Exit". I was considering the "Close" price for "StopHit" condition but was fixing [hard-coding] the exit price, which is wrong. For the above rules following is the result:
Total Points NF: 3130 with SL: 15 points and Target 30 points.
Number of Trades: 3570
Monthly average Points: 46
Monthly average number of trades: 52
Monthly average number of times stop hit: 28
Number of Losing months: 31
Number of Winning months: 37
Longest Losing streak: 14 ending on: 2013-09-17 13:14:59
Losing streak Drawdown: -459.0
Longest Winning streak: 8 ending on: 2016-02-15 11:34:59
Total Points BNF: 7693 with SL: 25 points and Target 75 points.
Number of Trades: 3944
Monthly average Points: 113
Monthly average number of trades: 58
Monthly average number of times stop hit: 39
Number of Losing months: 32
Number of Winning months: 36
Longest Losing streak: 18 ending on: 2016-04-26 10:34:59
Losing streak Drawdown: -1044.0
Longest Winning streak: 6 ending on: 2011-02-25 10:04:59
I am using the data for backtest from here:
https://drive.google.com/open?id=0B8e3dtbFwQWUZ1I5dklCMmE5M2M
If you are interested all the trades for NF can be found here:
https://docs.google.com/spreadsheets/d/1VRTeejY9vOVBfreqoI8k1a2ZeGuDaxSDq1VDm7-1i00/edit?usp=sharing
Apologies for false hopes
.
However the concept of entry is strong and can be further strengthened by adding indicators like ema and filters. Not having a fixed target but only stop also significantly improves the profitability and equity curve.