Making an EA: "Simple Method of Scalping any pair by Imran Sait"

Hi,

I opened this new EA-thread for programming an EA or maybe a semi-EA of Imran Sait's great scalping thread.

At first, we need to sum up a few rules that are "EA-friendly".

I experimented a lot with two LAGUERRE indicators and Chandra's indicators, but the results of an EA would be quite poor.

After all, I thought of using only one Laguerre indicator with the higher Gamma. In the main thread, I read, it was more failsave.

I invite everyone to discuss some "EA-friendly" rules when to enter and when to exit a trade.

Please help me and provide me with some programmable rules.
I started a document with a possible EA-entry (Multi-Timeframe). The arrows are from the "Laguerre Alert" indicator I attached here.

Some general questions:
What experience do you have with Chandra's indicators?
What are your settings to use them?
What is your opionion about using only one Laguerre for the EA?


Some technical questions:
With regard to EMAs, Bollinger Bands, what does "narrow" mean ?
Can you express norrow with a static/dynamic value?
How important do you think is caring about M1/M15 when trading the M5?
Should we use QQE, Stochs, MACD for this EA?

Have a nice day!

WSAStartup

Hi there

I trade using imrans system, i am no expert in how you write an EA but i think it would be either very hard or if not impossible to write an EA as there are so many variables to the system,

here are a few points you may wish to look at to see if it is possible

 

1. the lags - not only the cross above and below either 0.15 0.45 and 0.85 , but you will need the signal on all time frames 1 5 15 30 1h 4h etc as all the time frames work together for the big moves, also program both lags with red having priority over the blue lag

1. EMA's -these are very important to the system and they have to be monitored on all time frames again as they are the key to where the price may turn or be at support and resistance levels, also you have to see on all time frames which off the 60 and 200 ema's have crossed to which side etc

1. Pivots - Also very important for s/r levels as well as entry and exit levels

All other indicators should be possible for you like the MACD , stoch histogram but the key to making this system work is where you enter as we only use a 25 pips stop this would be very hard using an EA

If however you would like to make an EA based on just aiming for 25-30 pips at a time with a risk reward 1:1 ratio and aim for a 80% success rate that i would say maybe possible using the 1 5 and 15 min timeframes and minimal indicators if this is what you are after let me know i will try to help as much as i can in regards to what you need to programme

Regards

yas

although it would take some time to code all of the entry and exit scenario's it is not impossible.

Whoever decides to code it, I would recommend you start with each scenario one at a time and code then test it. As each one is tested add the next and in a month or so you should have an EA that will perform well.

Getting a computer to think as closely to how you think takes a little more than a few lines of code.

Good luck just remember it can be done.

You've got your work cut out for you.

I tried following that system when it first started. It seemed to change every day.

I haven't looked at it in a while, maybe it's a little more consistent now.

Hi Bill,

Same here, when I first looked at the system. However, having lurked at the trading room and understood how the system worked from the experts like yas1r ( or should I say THE expert), I am now a lot more clued up.

The system is probably not as simple as following the rules originally stated, but I believe Yas has understood perfectly how to apply them and in what circumstances. The key addition he has made is in using MTF's and EMA crossovers as deciding factors on entries whilst using the lags and macd as propounded in the system.

In fact, he's teaching his experience in the dedicated trading room on tradingrooms.com along with a couple of other people who have got to grips with this system. The great thing is that Yas has what I call an abundance mentality, and is more than happy to help traders in this method, even as he's trading it himself.

The atmosphere in the room is great, and I would encourage anyone interested in trading to join in in there.

Pls tho' read the thread to familiarise yourselves with the system to avoid asking questions that have already been answered.

I thank people like Yas, Ariel, (and also Kimmy) and others who are in my opinion making such a great contribution.

Pardy

Any developments on this?

If the EA assists you in manual trading, that it alerts you to when all the conditions for entry are met, in addition to you exercising your own judgement, I'm sure it would a worthwhile exercise.

Regards

Citi

The EA can be coded, the question is, will be it profitable? is this system profitable? (i never traded this system so asking to you if is profitable)

Cuz, you know, there are a lot of systems that in truth are profitable, but they still need to be executed by an human, that everytime there is a signal judge it and decide if take it or not.

Dunno if this can be fully mechanical (profitable also without an human signal-judgement), may you share some experience?

tnx anyway

Is it done?

sonic

Hi,

I thought about programming the ea and I think we forgot about something:

1. Candle Stick Formations

Laguerre is a leading indicator and so it gives early signals.
But what about candlesticks? I think their formations give even earlier and easier signals for an ea to enter a trade.

I read the following thread:
http://www.forexfactory.com/showthread.php?p=1990524

There you can find the following rules at page 1:
“Buy when a candle close above the last down bar in a downtrend
Sell when a candle close below the last up bar in an uptrend”

So, to sum this up, look at the attached 2 pictures. The SL would be very small.

Have a look at the following post….

… I think the signals aren’t bad, even in 5M-charts. But there are quite a few error signals.
Now we could use the Laguerre-Mode to filter them …

I filtered 4 false signals, where Laguerre is pointing into the opposite direction and now these signals with small SL look quite ok, don’t they?

What do you think about the concept “Candle Stick Formations for Entry”, “Laguerre for Filtering”?

WSAStartup

has this ea come to live? or anybody try with the demo? can u share the results? thank you

No it is still in planning.

I'm familiar with the system and will say right now that it's a very daunting task. I'm willing to partner up with other programmers on this thread to code the individual "modules" of this EA.

I think for make an EA base on candle stick you mention is easy, but I think to filter with Lag for an EA is a bit difficult.

WSA, Did your previous graph with arrow at candlestick is done by manual or by indicator??

If you are still interested in doing this please let me know. Regardless, I'm going to create something from this (as long as I don't run into some bad posts later in the thread about the strategy), but I just ran into Imran's strategy today and just starting going through the posts. It will take me awhile to go through most of the posts and then apply testing to come up with something. It seems good enough for me to pursue though because after getting the Imran's basic strategy down, I already see how I'm going to tweak it to make it better and develop this fully automated. Where we could work together is if you have something in mind already, letting me understand how you apply them as a human and then I can make it done.

All that you are talking about can be done, but I'm not talking about alert type EAs, but fully automated. I graduated in computer engineering, then worked at the cme as a trader and now for the past few years have been working as a programmer, but developing and running automated trading programs from my server at home while I'm at work and asleep. They are in java using sockets for reliability and speed with very tight spreads.

Let me know soon because I'm looking for another project and this strategy is very different than my others and it looks good so I'll be starting it pretty soon. One of the reasons I like it is that it seems to work on many different time frames, many markets etc. If it is as good as Imran's saying (only looked at it one day so far), then some really good stuff can come out of programming that a human just can't do...for instance monitoring 10 timeframes/10 markets at the same time entering, exiting trades, etc, and have the system grow as the months go by. It sounds complicated, but it's really not as much as it sounds...plus a lot of code is reusable that I've already done for the auto trading program I run now.

Thanks.

jd

So...JD, ol' Buddy, ol' Buddy, ol' Pal. Appreciate any inpute you have to offer up here. You'll not hear any negative posts from me. Look forward to your working with Imrans' System. Sounds as if you will have a lot to contribute.

In the mean time, what's the likely hood of getting a look at the EA's your currently using while your at work or asleep. They sound very interesting in themselves.
Thanks for your insights from a trading "Bra" on Maui.
CCE

cce-

Maui? I was just there a few weeks ago! Gosh I love that place.

Unfortunately, the current system I have in place is not really appropriate for a Forex Factory discussion. It's completely equities based in high depth with level 2's, ecns, etc.

As far as futures and forex, I have developed a few systems, some with past traders, but all have fell through. Some would work even for a few months to end up not doing well. I personally think it's because of lack of backtesting or not using a system enough to justify programming for it. That's why I think this may be good. Back testing is the part I really hate doing because I've done so much of it already. You test, tweak it, have to tweak again, retest again all the data, etc and it's usually a vicious cycle that takes forever. I came upon Irman's thread and it seems like everyone is still doing okay with his strategy besides James in the last few posts. If this is not true, please let me know, but the post summarizing the thread is great and I'm going to read this tomorrow.

Another note...from my past experience being a professional trader, having had a series 7, having even invested in a few systems that claim to work well, all systems can be fully automated. If they say they can't then 100% of the time that I've experienced it will never yield results you want it to. I've even proven this with charts and analysis to a few website that claim this after looking at their system. People say that there are so many factors and too much of a human involvement, but you'd be surprised how you can incorporate so many of them in a fairly short amount of time. The people that I know that are very successful traders are ones that got really lucky, have an edge, or automate (here because you take the human factor out completely and you get into trades almost as fast as institutions). Having a strategy that works on many markets is pretty unheard of. Especially in equities and futures they all act differently, but programming can take care of that as well. But this is also why this strategy intrigues me and Irman's involvement would probably be great.

With all this being said, my intentions are that maybe we can setup a group of people that are interested in working with me not necessarily from a programming standpoint, but someone who is trading the system for a long time now, has pretty much got it down, and would like to automate this. Someone who usually loses because of not following the rules. As I mentioned earlier, if this works on so many markets and time frames (I don't know yet because I haven't tested this at all yet) then there is huge potential.

I'm envisioning that with enough detail from everyone, we can get a system going that will scan all markets that pertain, look for best setups, and trade them. For traders that haven't seen stuff like this is pretty cool having something doing 50+ confirmations * timesframes * markets in milliseconds and placing orders all over. At the end of the day you never regret not taking this trade or not having taken one or missing one...just coming home to results. Going short in a 1min and long in a 5min might sound ridiculous to you, but the math works out in your favor because you include hedging in the trading system then.

Anyway, sorry for the long post, but just wanted include some experience and that I'm looking forward to working with some forex traders.

Thanks,
jd

Hey JD,
Thanks for feed back. Not so sure I can help much as I have used various parts of Imrans sys. but have not remained totaly true to it. I tend to be hands on a bit tomuch. That's why an EA that would work, say 80% of the time positive, with sound money managment, sounds like it would be worth pursuing.
Hope your endevor proves to be fruitful.
CCE

cce-

It definitely can be. If it's a good strategy, it will. Even a small amount of pips with money management is huge especially when you are doing absolutely nothing in return when the program is running.

There might be ways that you can help. I think the best way to handle this is by having many dedicated people involved. Trying this on a thread is brand new to me, but I think it can work...I'm going to try. Usually I've worked on strategies, backtest, usually a former trader will work on something with me, but it still seems like too much work for even 2 people. Plus, all the knowledge that can come from so many people. Where I'm getting at is lets say there are 25 or even 50 people involved. Let's say 10 are contributing to tweaking the system, 10 are backtesting, 10 are helping set it up, etc. I don't know, I'm just throwing out numbers here. I would be developing it and sending out the latest program version to run or if someone doesn't have the necessary setup on their computer or server, including your email in the program to send instant notification of entries, exits, and debug code with it on why it entered, what it's doing, etc. Backtesters can talk to each other, tweakers of the system brainstorm, in addition to, everyone working together. I would program after work and most weekends.

Like I said, doing this open through a forum I think is worth a shot because it seems like there is a decent system here and people who really spend a lot of time on trading stuff as I do. Combining all this I think would be awesome. I just saw a post from Tiny83 from Imran's post:
http://www.forexfactory.com/showthre...48926&page=487
saying "Hello, James! I am a new to this thread, but I work with this system for about half a year now. As I mentioned here, my win ratio is about 65% and i did not make big money yet, and I have the person who is responsible for this. It is me. I would never give my money to someone else to trade, so I do not have anyone to blame for losses. When i had win trades, signals were perfect, my losses were all made because of emotions and bad MM.
I think that one can make money with almost any system, because it is not a system who trades, it is a man. Do not blame Imran, he gave you the tools, it is up to you how you use it."

That's awesome because we would be solving one massive issue here, the human factor. There are also so many posts on "I'm not getting the same results, indicators are not setup right, etc". We would be all working on making the best program as a team. I'm not looking for monetary value if that is in back of someone's head, for goodness sake it isn't even my strategy that the foundation would be built off of. Like I said in a previous post, I tried some future and forex programs out in the past 2 years usually myself with not much success and it always was the strategy. Having a lot of expert people involved would be great. Someone might not be great at coming up with new ideas for tweaking it, but someone might be a great debugger or back tester. Then all those contributing would be owners of the program. If you have any suggestions on getting this kicked off the best way possible, I'm open. I want this to work since the potential is huge.

Although if this thread became big and we have a program basically in production live with your own accounts and doing well after a few months lets say, I would just say it wouldn't be completely fair to distribute the program to everyone else in the world without permission. Another issue from experience is that because everyone has a different amount of money when this would go live to work with through their own account, I would suggest we all started low. So that 1 is not way ahead of another, or vice versa. I've noticed some sour relationships occur after people are trading different lot sizes and I wouldn't want to do that. We would all build it up together, but in individually in our own broker accounts running it from your computer at home, or if you wanted to, from mine. There would be a big group of dedicated contributors that would be owners of the program from here. Anyway, that's my 2 cents, but I'm open to whatever. I just want to get a team going. All suggestions are open.

Thanks!
jd

PS: Another thing, don't let the full automation scare you away if you can be a great asset to this. It works wonderful. I've been doing it for years and I pretty much have all scenarios covered...what if internet goes out, what if power goes out, what if an order gets stuck, etc. Happens usually like once a year or so but you'd be surprised the stuff you can do. For instance, I have a 40min battery backup that after it kicks in, the program would start exiting trades and not trade anymore and just cancel stop losses if there are any. You can submit combination orders so that all the orders go through in case you lost internet or something the millisecond the stop loss order followed with the initial order and if one order fills, the other auto cancels or something. Basically, I just want to say don't worry about this part, I have that covered. Let's work on getting an awesome program for us involved in this thread.