[Scrat]

i thought the daily scalping entry was based on previous day trend, while the weekly scalping entry was based on previous week trend.
although the entry point is the same, one position might be long while the other is short.

Originally Posted by toti1972

Hi TK,
... but for instance, at 0000 on Monday your entry settings are both the same. That is, instant entry based on previous day tendency, same price for both, no straddle and 40 pips SL and reverse order. Am I right?

Thanks

Best wishes

... and a question: i've just downloaded Straddle_Trail v5.00, watched the tutorial about EAs but i still feel a little bit lost since i'm at the very beginning with MT. could someone help me with the changes i have to make to this EA so that it will function like the original weekly scalping? if you think it's not relevant for the thread, please PM me.
thanks a lot!

[tkimble]

Originally Posted by Scrat

i thought the daily scalping entry was based on previous day trend, while the weekly scalping entry was based on previous week trend.
although the entry point is the same, one position might be long while the other is short.



... and a question: i've just downloaded Straddle_Trail v5.00, watched the tutorial about EAs but i still feel a little bit lost since i'm at the very beginning with MT. could someone help me with the changes i have to make to this EA so that it will function like the original weekly scalping? if you think it's not relevant for the thread, please PM me.
thanks a lot!

Yes. You are correct. Instant entry based upon previous days close. Only exception is if the three previous days have all trended in the same direction, then you reverse direction on the daily system...

Happy Trading,

TK

[petersurrey]

It looks as though this weeks GBP trend could be decided by tomorrows UK interest rate announcement - retail sales figures point to an increase where as manufacturing figures point to leaving it unchanged with the consensus appearing to be coming down in favour of one more increase which would, hopefully, produce a nice long up trend to finish the week off with

[UncleSam]

Hope UR Right Peter!!!!

[StrawStock]

Hello everyone,

Here is an EA that will hopefully manage Both Daily and Weekly trading.
I hade it programmed by mqlservice.com. It is brand spanking new EA so there maybe some bugs to work out.
I tried to implement several different variables so that different trading styles or ideas could be tested and traded.
This EA does not use any Break Out entries like Tkimble used in his original weekly Strategy.
This EA trades right away like the Daily system.

I named the EA “Rhythm” I figured that is what we are all trying to catch, the rhythm of the market.

Please help me to test it out

[ut2DaMax]

Originally Posted by StrawStock

Hello everyone,

Here is an EA that will hopefully manage Both Daily and Weekly trading.
I hade it programmed by mqlservice.com. It is brand spanking new EA so there maybe some bugs to work out.
I tried to implement several different variables so that different trading styles or ideas could be tested and traded.
This EA does not use any Break Out entries like Tkimble used in his original weekly Strategy.
This EA trades right away like the Daily system.

I named the EA “Rhythm” I figured that is what we are all trying to catch, the rhythm of the market.

Please help me to test it out

THANKS A BUNCH .... for SHARING the EA!!!




Question ... do you have Monet Management included in this EA .... Re: post23?

[StrawStock]

Sorry, No i did not include Tkimbles MM into the EA. I wanted to keep
the EA as simple as possible. I figure it would be very easy to keep up with
this on your own. I feel the more an EA has to managed the more things
can go wrong.

[ut2DaMax]

Originally Posted by StrawStock

Sorry, No i did not include Tkimbles MM into the EA. I wanted to keep
the EA as simple as possible. I figure it would be very easy to keep up with
this on your own. I feel the more an EA has to managed the more things
can go wrong.

That is quite alright ..... appreciate your generousity! It just opened a buy on GBP/USD .... so I know it works. I should have waited till tomorrow I think.

I would of thought Short here on G/U but....anyway .... I will watch to see what it does.

I am sure $.M. can be added per each individual tastes later. Of course Lots can be changed in the Code. I would just have to reset it on a weekly Basis , or can the lots be changed on each order, if set Semi Automated?

Again thanks so much! I cannot wait to see what happens tomarrow. This should make the Daily so much easier now! #^&^$^(%)^(*

[StrawStock]

You should be able to change lot size on each trade

[Deanith]

Originally Posted by tkimble

I do not discuss my performance. I trade the GBP/USD exclusively although this system will work on any pair after appropriate adjustments are made for selected pair volatility. For example, with lower volatility markets, the 50 +/- PIPS would be reduced to maybe 40 or 30 +/- PIPS for trade entry.

There has been extensive discussion about the stops. I only place one 30 PIP stop for each trade. I do not use trailing or "stepped" stops. Again, I like to keep it simple. My average performance using trailing stops has always been worse that using a fixed stop.

Happy Trading,

Tkimble

Hi Tkimble!
My question is if you do NOT use trailing stops and you do NOT use price targets, how do you know when to exit your trade for profit??

Deanith

[Daemien]

Hi Deanith,

If you read even the first page or two of the thread, this will all be clear!!

Hope you don't mind me replying tkimble

D.

Originally Posted by Deanith

Hi Tkimble!
My question is if you do NOT use trailing stops and you do NOT use price targets, how do you know when to exit your trade for profit??

Deanith

[ut2DaMax]

I like this New tkimble Rhythm EA, sure opens orders quickly after opening on a Chart. mqlservice must have known what they were doing! I have a question does this EA need any input on my part on the time zone my platform is using? I think I will change the following [ExitTime Hour= 23:00] to 16:00 or 17:00 as you stated may be better exits.

I hope you tkimble Method lovers ....... are taking a good look at the Rhythm EA .........Compliments of StrawStock! ..... I will be playing with my New Toy in a few hours!

[Deanith]

Originally Posted by Daemien

Hi Deanith,

If you read even the first page or two of the thread, this will all be clear!!

Hope you don't mind me replying tkimble

D.

I did. Numerous times. Must have missed something.
Enlighten me.

[petersurrey]

Originally Posted by Deanith

I did. Numerous times. Must have missed something.
Enlighten me.

Deanith -all trades are exited at the end of the week -i.e. Friday close or near to -apart from those who trading multi-lots and taking partial profits along the way, or have made other adaptions to suit their particular trading style..

[Deanith]

Originally Posted by petersurrey

Deanith -all trades are exited at the end of the week -i.e. Friday close or near to -apart from those who trading multi-lots and taking partial profits along the way, or have made other adaptions to suit their particular trading style..

Thanks for a staight answer.

I know about the end of the week exit. What I was wondering about is if the trade turns around sometime before weeks end.

How would I be able to preserve any profit made if I am not using trailing stops or price targets just in case the trade changes direction/

Sure, I can hope that the trade will move far enough in the other direction but in the meantime I will lose any profits made from the previous opposite move.

Do I just let it stop out and then let it enterin the other direction at the previous weeks close and hope the price moves far enough to make up for the loss from the previous trade in the opposite direction?
(Since I am NOT using trailing stops or price targets)

If I do this I will lose any profit made on the other direction due to not moving my stop or placing a target limit.

My question is how do I prevent losing on what would be an already profitable trade IF the trade changes direction DURING the week if I am NOT to use trailing stops or Price targets?

Thanks for your help.

Deanith