DislikedHi again learning....I took the same Trade on AUDUSD. Worked out well.
DanIgnored
-Jim
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DislikedHi again learning....I took the same Trade on AUDUSD. Worked out well.
DanIgnored
DislikedHi FXTradepro,
Thanks for sharing the strategy. I spent some serious hours testing it using tick data from gain captical (millions of ticks, using hand made VB/SQL program to run tests). Pair: EUR/JPY from 1/2006 to 8/2007. Tried all sorts of tp, sl & timed entries (japan open, london open, ny open etc.). Maximum progressions: 20 (i know you can do much better with discretion rather than time entry);most trades finish in up to 14 progressions. A couple of "trades" last several days (maybe it was during some of bank holidays! didn't look into it as i am lazzy at looking charts). Also tried "stop loss" after certain number of progressions and only managed to break even.
Overall, it has hope in long run (with luck and bit skill and big heart). Better than throwing money to lottery or trading hundrends of indicators.
Cheers
SFIgnored
DislikedHi FXTradepro,
Thanks for sharing the strategy. I spent some serious hours testing it using tick data from gain captical (millions of ticks, using hand made VB/SQL program to run tests). Pair: EUR/JPY from 1/2006 to 8/2007. Tried all sorts of tp, sl & timed entries (japan open, london open, ny open etc.). Maximum progressions: 20 (i know you can do much better with discretion rather than time entry);most trades finish in up to 14 progressions. A couple of "trades" last several days (maybe it was during some of bank holidays! didn't look into it as i am lazzy at looking charts). Also tried "stop loss" after certain number of progressions and only managed to break even.
Overall, it has hope in long run (with luck and bit skill and big heart). Better than throwing money to lottery or trading hundrends of indicators.
Cheers
SFIgnored
DislikedFirst of all, I appreciate for your posting very deeply!
And I have a question in the situation of computer off
(ex. Computer shutdown or Internet connection off )
What can i do in this situation?Ignored
DislikedWelcome jphole......PC shutdown or Internet connection issues are a concern for ALL Expert Advisors and not just the FXTradepro Manager EA. That is why I had the SL and TP Levels coded so that they exist on your Broker's Server. In the event of a Internet or PC failure 1 of 2 things will occur. Either your SL will be hit and the next Level in the Sequence will NOT be able to open or your TP will be hit. If the TP is hit then there is no problem. If the SL is hit then there will not be any new Levels opened until your connection is restored. At that point the EA will pick up the Sequence from where it left off (it MAY skip 1 Level sometimes when power is lost). I have had this happen to me once and things worked out fine. It certainly could be an issue if this connection failure occurs at a deep level in the progression. Remember that there is always risk in Internet Trading of any kind.
DanIgnored
DislikedSo..in that situation, I just only rerun MT4 platform and reactivate EA?
or do something more?
Pardon my ignorance for EA system.Ignored
DislikedHey Dan,
I love numbers, but ironically, I'm no statistician. I'm not suggesting monkeying with your parameters, but just wondering what the quick and dirty answer would be as to why the 2nd progression lot size is the same as the 1st? I guess my thought was it would increase........maybe not double, but maybe a half a lot?
Again, I'm sure there is a great reason why this is less efficient, just wondering what the net effect is, as I assume you already have the answer .
Thanks,
Jim
BTW- made + 40 = $480 in 8 progression GBP/USD overnite!Ignored
DislikedHi Jim,
there is no need to increase the lot size in the 2nd progression because of the TP40 and SL10. If you increase the lot size in the 2nd progression you have to increase the following position sizes, too. That way you would end up with a higher lot size in the higher progression levels which is more risky.
Regards - XaronIgnored
DislikedYou are right about the later progressions, but I thought maybe it would go 1, 1.5 then 2 lots on the 3rd trade, but from a basic perception, what's the difference? you lost $10 in the first trade and would net $50 vs. $30 if the 2nd progression worked out.................don't spend that extra $20 all in one place!! Of course, if the 2nd is a loss, you are out $5 (a net of $15 more on winners vs. losers). I would think however, over time, there are far more trades that go to the 3rd level and beyond, so that net of $15 would get gobbled up fast.
See, I knew there was a reason!!
Thanks for making me think it through,
JimIgnored
Dislikedtwo trades today:
Both entered at 6:00 GMT. EUR/JPY at 10/40 and GBP/JPY at 25/100.
EUR/JPY closed@ 8:12 GMT on the 11th progression for a profit of $307.30
GBP/JPY closed@ 8:15 GMT on the 7th progression for a profit of $322.99
6 total trades for a profit of $1,637.50Ignored
DislikedThanks for the input BUT just remember that as I've mentioned continuously, this Strategy works best for me with a DISCRETIONARY Initial Entry. Also, there are things that one can do if we get caught in a tight range and the progression levels get to the high side, such as turning the EA off and resuming the Sequence once the tight range is broken. You still need to know HOW to Trade to be successful. This Method just enables us to make some "mistakes" along the way and still be profitable.
DanIgnored
DislikedOvernight outcome:
GBPJPY: profited on 5th progression; SL-25, TP-105
GBPUSD: profited on 9th progression; SL-12, TP-48
WaltIgnored