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wow~

i read ur 1st post that entry after 10pips+ candle.
but i read though the thread...most of the time ..entry after 5pips+ candle.

so i should take 10pips one?
thank again

yes, yes, yes... specially with GBP! 5 pips is so common, the bigger the candle the better!

that's great...i am thinking to make an EA to test more about that~
Thank you

i am writing an EA for MT4 for ease of trade
my idea is to compare the price when the second is 0, 5, 10,15....
if the price of the interval >10 pips, it will place the order with SL


Here are the simple code
-----------------------------------------------

//+------------------------------------------------------------------+
//| 5sec.mq4 |
//| WL |
//| http://www.metaquotes.net |
//+------------------------------------------------------------------+
#property copyright "WL"
#property link "http://www.metaquotes.net"

extern int candlesize = 100;
extern int SL = 50;
extern int TP = 150;
extern double lots = 0.1;

//+------------------------------------------------------------------+
//| expert start function |
//+------------------------------------------------------------------+

double price1, price2, price_range;
string di;
int ordercmd,cmd;

int init()
{
price2 = (Ask + Bid) / 2;
price1 = (Ask + Bid) / 2;

return(0);
}


int start()

{
//----

if( MathMod(Seconds(),5) == 0 && OrdersTotal() ==0)
{
price2 = price1;
price1 = (Ask + Bid) / 2;

price_range = price1 - price2;

if(price_range>0) {di = "BUY"; ordercmd = 0;}
if(price_range<0) {di = "SELL"; ordercmd = 1;}

if(MathAbs(price_range)>candlesize*Point && ordercmd == 0)
{

cmd = OrderSend(Symbol(),OP_BUY,lots,Ask,3,Bid - SL*Point,Ask+TP*Point,NULL,0,0,Green);
Alert("UP ", cmd);
if(cmd == 0) Alert(Symbol(),di,lots,Ask,3,Ask - SL*Point);
}
else if(MathAbs(price_range)>candlesize*Point && ordercmd == 1)
{

cmd = OrderSend(Symbol(),OP_SELL,lots,Bid,3,Ask + SL*Point,Bid-TP*Point,NULL,0,0,Red);
Alert("down ",cmd);
if(cmd == 0) Alert(Symbol(),di,lots,Bid,3,Bid + SL*Point);
}
}
//----
return(0);
}
//+------------------------------------------------------------------+

temporary, i hv made an EA
but the problem is ...SL can't set too close to the market price.
it seem at lease 5pips. for that

nothing going on as yet?

Nothing tradeable to me at the moment. Seroius selloff in yens. GU at the moment confused as to which direction. I'm waiting for clear direction - but its friday and be cauteous.

seem quiet today....

GBP news out soon, maybe wait few minutes after if spread is low and hop along for the ride.

hi tony you said when taking a news trade enter on a powerful candle what lenght(how many pips in lenght )would u reccommend.

Hey witam I was thinking about your EA, and could you not add a feature that once entered, if the trade goes to -5 then close? This way it is like some sort of virtual stop, and we can backtest to see how many closes we have compared to runs of profit...and some money management like once the trade goes to +10 then put a virtual stop at breakeven, then trail with something like 30?

I also made a simple EA and ran it for like 24 hours. Until 30 minutes ago I realized many limitations so went to check codes line by line. Small stop loss is only one of the problems. Another problem is MT4 platform actually run your script every 6~30 seconds. In this case, even if there is a 10pips long bar, the script will most probably miss it.

Though, a EA runing on Oanda's java platform is possible. But that's a service with monthly charge, I am not using it.

So the most feasible way will be the old way -- monitor the screen manually....

honestly i find that watching the screen for a long period of time is very tiring?

There is no way to operate every tick?

MT4 platform actually updates prices many times in one single second. We can get it from system constant "Bid", or from Close[0].

But it will run your EA or indicator codes every 5~30 seconds, this prevents us from getting the latest prices in time.

Example: a bus passes every 10 minutes; but you are allowed to go to the bus stop once per hour. So, for you, the frequency is not 1time/10min, it becomes 1time/60min.

8:30am
singal (down)

8:55am
SL(1.5424) met.

9:01am
another signal (down). SL=1.6712

9:40am
SL(1.6712) met. though, this order experienced 30pips floating profit before the SL was hit.

image attached.

definitely not my best week

Thank you for your comment and information
actucally i am just a newbie for writing EA


but it seem ..the EA run each tick
i am doing some of the test on the EA
i think it can be done technically
i will try to post some of the result later on...