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C++ MQL4 Forex Harvester 61 replies

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Harvester

  • Post #1
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  • First Post: Aug 18, 2016 11:28am Aug 18, 2016 11:28am
Ive been trying this strategy and it looks promising, i need you to understand it and give your feedback and suggest modifications.

THE STRATEGY

I want to have multiple buy orders, say 3 orders, at a distance of 20 pips from each other and from the current market rate (or specified rate). They will be in the form of buy stops
For Each of the orders, i must be able to specify (stop loss / trailing stop) for each.

Once the buy stop is activated, and the price goes down to hit the SL, another pending buy stop will be placed at the original location of the closed buy.

If the price goes on upward, the order will be active until all the combined orders hits a predefined profit / pips. If i close one of the orders manually, all the remaining actve buys shall close as well.

Input data:
Number of Orders: say 3
Gap: say 20 pips
LOT SIZE: say 1 lot
SL = 20 pips
Replace loss order: TRUE
Close all: profit = $1000

Say i insert the above parameters, the EA should act like the below example:

Current price for EUR/USD is 1.1000
1- 3 buy stops are placed at 1.1020, 1.1040, 1.1060
2- say the price moved from 1.1000 to 1.1020, the first buy stop is activated. At this point i should have one active buy order at 1.020 and two buy stops at 1.1040, 1.1060
3- say that the price goes down, and hits the SL of 20 at 1.1000. then the active buy should close at a loss of $200. And a new buy stop is placed at 1.1020.
4- say the price again goes up to 1.1020, the buy stop placed in point 3 above gets activated again. And i will have one active buy and two buy stops
5- say the price continues to go up and activates the second buy stop at 1.1040. then i will have two active buys and one buy stop at 1.1060.
6- say the price goes up again and hits the buy stop at 1.1060, then goes down to 1.1040 (the buy stop at 1.1060 closes at a loss of 200) and a new buy stop is placed again at 1.1060.
7- the over all loss now is $400 .
8- say the price continues up, then all the orders shall close when the floating profit is $1400 (to count for the $400 loss and the required 1000 profit) which should be at a price of 1.10867.

the same goes for sell orders.

Please let me know if all is clear at this stage, so that i continue with the explaining what i want when it goes bidirectional.

Kindest regards,
Forex will make you loose but you will stay gambling
sample of today trading
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Forex will make you loose but you will stay gambling
NIce strategy, more example with chats and explanation how you identify your direction before placing buy stop or sell stop.
Thanks for sharing this system.
Your explanation in post 1 is absolutely clear. Looking forward to continuation.
Quoting Jawadnimri
Ive been trying this strategy and it looks promising, i need you to understand it and give your feedback and suggest modifications. THE STRATEGY I want to have multiple buy orders, say 3 orders, at a distance of 20 pips from each other and from the current market rate (or specified rate). They will be in the form of buy stops For Each of the orders, i must be able to specify (stop loss / trailing stop) for each. Once the buy stop is activated, and the price goes down to hit the SL, another pending buy stop will be placed at the original location...
hi
in mt4 library for ea, there is a very nice ea doing the same but not stop orders
idea is the same
vtr2
check it
enjoy
GUYS BE AWARE FROM HUNTING YOUR STOP LOSSES BY YOUR BROKER & BY "GHOSTS"
Quoting Jawadnimri
Ive been trying this strategy and it looks promising, i need you to understand it and give your feedback and suggest modifications. THE STRATEGY I want to have multiple buy orders, say 3 orders, at a distance of 20 pips from each other and from the current market rate (or specified rate). They will be in the form of buy stops For Each of the orders, i must be able to specify (stop loss / trailing stop) for each. Once the buy stop is activated, and the price goes down to hit the SL, another pending buy stop will be placed at the original location...
the idea is cool and promising, it just you may need to find a strategy when the price only touched and activated the 3rd buy stops and after that goes all the way down below the 1st buy stop.
actually this kind of trading is killing you and it is not possible for someone who has a 9 to 5 jobs, once you place the order you need to stay in front of the monitor until the cycle finished, in my opinion it is better to build an EA who can trade that way for you.
making money is easy in forex, losing money is even easier...
so, i think it is clear now.

now, if you noticed this strategy applies all the principles we learned in forex but (personally) i was unable to stick to. like
1- cut your losses early.
2- always trade with the trend.
3- let your wins thrive.

in a ranging market, this strategy will cause a loss. but keep in mind that always your losses are limited but wins are unlimited.

this can be applied by always trading with the trend, and using a very simple trend determination filter, any filter.

so what to do if you are not sure about the trend, here comes the bidirectional methodology that can be applied to all market conditions.

so, same settings as above with an additional setting like below:
initial gap = 10 pips
sell stops = 3
gap = 20 pips
lot size = 1
follow price = yes.
current price is 1.1000

the trick is with the follow price parameter.

it will start by placing 3 buy stops and three sell stops.
buy stops at 1.1010 / 1.1030 1.1050 each with a SL of 20 pips
Sell stops at 1.0090 / 1.0070 / 1.0050 each with a SL of 20 pips

notice the gap between the first buy stop and the first sell stop is 20 (double the initial gap).

1- say price goes up and activates the first buy stop, you will have one active buy, two pending buy stops and three pending sell stops.
2- say price goes up again, and hits the second buy. you will have two active buys and one buy stop and three sell stops.
3- once the price activated the second buy (in point 2 above), the system will move all the 3 sell stops by 20 pips. this means that you will have 2 buys at 1.1010 / 1.1030 and a pending buy stop at 1.1050 and three sell stops at 1.1010 / 1.0090 / 1.0070.
4- say price goes up again, and activates the third buy stop, again the sell stops will move up by another 20 pips.
5- please note, when ever the price activates an order, and the order hits its SL, it should be closed and replaced by another order (stop) at the same location.
6- if the price drops all the way down, it will close all the three buys (20 x 3 x 10 = 600 loss) but you will have 3 sell orders, that are in profit. you will have to wait until the price moves to a point that puts u back in profit.

by this method, you are always selling from the maximum top or buying from the maximum bottom
please let me know if this is clear.
Forex will make you loose but you will stay gambling
It's all perfectly clear and makes really good sense, at least to me. But unfortunately I've seen so many systems which look brilliant in theory but never work in real trading conditions. So the only way to give your system a test is to make an ea (it's impossible to trade it manually) and to start a live forward test. So a coder is needed who will volunteer to create such ea and to share it with community.
The idea is simple and straight forward, is there anyone who will help us develop an EA for this strategy?
Forex will make you loose but you will stay gambling
20 pips might not be enough to take moves up even if you are in the buy... Sometimes price spikes up 50 pips then drops 40 pips, before going up again... why? Because it is retesting the level it just broke. 20 pips will not be enought to take ''the trend'' and will likely whipsaw your account during high volatility movements.
Trade in the now
Quoting alldirex
20 pips might not be enough to take moves up even if you are in the buy... Sometimes price spikes up 50 pips then drops 40 pips, before going up again... why? Because it is retesting the level it just broke. 20 pips will not be enought to take ''the trend'' and will likely whipsaw your account during high volatility movements.
Hi Alldirex,

you are right, this could and will happen. However, i have posted the outcomes of a normal trading day above to show the strength of this system generating $ 27.44 from 0.01 lots means i have made 274 pips that single day from a move of only 120pips. maybe it is my mistake that i did not elaborate more on the idea behind this system but allow me to do so..
1- in forex we learned to cut our losses short, if the buy does not go straight up it is better to close it at 20 pips (example) rather than carrying it in a losing position for 200 or more pipe.
2- let your wins thrive, this is exactly what the system does and it keeps on adding to the winning positions.
3- you will loose thats for sure, the idea is that you should and with this system you will loose much lesser than what you earn. you will lose linearly (approximately) but your wins will be compounding. your risk is always limited but your wins are set to magnify any move of the market.

I've tried it so many times. it cashed in losses in one time of 9 orders and in the same day when the euro went up for 90 pips it closed in green.

another aspect of this system is that you don't need to take big adventurous moves, you will increase the lot size only when the market tells you so.

think about it,
Forex will make you loose but you will stay gambling
Quoting Jawadnimri
{quote} Hi Alldirex, you are right, this could and will happen. However, i have posted the outcomes of a normal trading day above to show the strength of this system generating $ 27.44 from 0.01 lots means i have made 274 pips that single day from a move of only 120pips. maybe it is my mistake that i did not elaborate more on the idea behind this system but allow me to do so.. 1- in forex we learned to cut our losses short, if the buy does not go straight up it is better to close it at 20 pips (example) rather than carrying it in a losing position...
Hi Jawagnimri,

Thanks for further explanation. I had a similar idea way back in the day and did backtesting to see how this method would work out. It works well when the market is trending one way, but you need to optimize your levels from of 20 pips from pair to pair, since price range differs on different pairs.

Two issues:

1) choppy markets: likely losses, depending on moves (over 40 pips would likely be not so bad, less you will lose money me thinks)
2) high volatility markets: you will likely have multiple entries and multiple closes, some in profit some in loss.

Also just an fyi: price does not move in a linear fashion, so your levels might need to reflect that.

So over all, depending on the pair you trade and the conditions you set you could make this profitable, I would suggest experimenting with various pip levels for pairs to see which give you less losses.
Trade in the now
I've already been experimenting this system for long enough, i am not sticking to the 20 pips suggestion. it was just to explain the idea.

i do understand that it will cause losses in choppy markets, and also it is very hard to backtest. however, if you plan to catch the weekly move say 200 pips by avoiding entries on Mondays and starting on TUE/WED then you know that you have a chance of say 10 cash ins at the cost of 10x20x10 = 2000 but when the market moves 200 pips you will gain 10x200x10+10x180x10+10x160x10=5400. net for the week is 3400/

this is not a system to leave working during the asian market, unless the price moved out of your range and you expect the price to continue moving in that direction.

how i know that the system should work? look at the weekly chart for GBPJPY (example) a normal week will move at least 200-300 pips, and you know if you applied this system that you will get this move multiplied by 3 if you have three orders (approximately) less the cash-ins which from my experience will not exceed 10-20 times in a very choppy market.

this system will prevent extreme draw downs in your account which is the killer, you will always get all the cash-ins compensated back when the market moves, and if the weekly moved very well (which happens a lot) you are in the trend, away from being cashed-in again and you can leave it for another week or you can move the SL to your BE price and leave the orders to grow.
Forex will make you loose but you will stay gambling
  • Post #14
  • Quote
  • Edited 4:36am Sep 10, 2016 3:26am | Edited 4:36am
Quoting Jawadnimri
Ive been trying this strategy and it looks promising, i need you to understand it and give your feedback and suggest modifications. THE STRATEGY I want to have multiple buy orders, say 3 orders, at a distance of 20 pips from each other and from the current market rate (or specified rate). They will be in the form of buy stops For Each of the orders, i must be able to specify (stop loss / trailing stop) for each. Once the buy stop is activated, and the price goes down to hit the SL, another pending buy stop will be placed at the original location...

it is not work at ranging market (any range beetween 20 pip will hit sl)
  • Post #15
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  • Last Post: Sep 10, 2016 3:41pm Sep 10, 2016 3:41pm
Very interesting, any release of the EA?
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