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Straddle trading EA

  • #181
  • Sep 21, 2006 5:16am Sep 21, 2006 5:16am
Hi

Using the AmazingEa and being stopped out due I think to the widened spreads during the FA. An example was during the NZ currency, where I had my PipsAway/ SL at 10, and was immediately stopped out... I assume because the spread had been increased to 10?. Does anyone have any knowledge of whether the EA should adjust automatically for the spread?, or do I need to increase SL accordingly (and guessing the increased spread). Thanks for any advise!
  • #182
  • Sep 21, 2006 5:21am Sep 21, 2006 5:21am
So it is my understanding that if the SL equals the (new) spread at execution of the order (ie 10 pips away from price), the orders will get stopped out?. Is manual intervention/ adjustment when setting up needed?. Thanks again!

Getting very confused but determined to get this to work, as I seem to be having equal winers/ losers, and always seems to be the spread issue. (Those who have traded this on the NFP... have you the same issue?... ie did you increase your SL to say 25?
  • #183
  • Sep 21, 2006 6:55am Sep 21, 2006 6:55am
robert,

The simplest, without having to modify the script, is to simply specify a larger SL.

NZ news are big movers. But due to lack of liquidity, the ASK (Buying Price) will surely be higher than usual.

IF the spread widen during seconds before news, You might see your straddle entries 10 pips below Bid and 5 pips above Ask which is not good.

Therefore, I suggests that there to have two PipsAway: One for the Ask and the other for Bid. This way, if we are expecting widening of spreads, we can specify a BuyPipsAway at 15 while still maintaining SellPipsAway at 10...

It suck to be stopped out earlier huh? I hate that! Next time, we know better to set SL to 15 (or even 20) ! besides, its a winner anyways.
  • #184
  • Sep 21, 2006 7:17am Sep 21, 2006 7:17am
Thanks BK


I gues part of it's trial and error, and keeping a log of expected spreads during the most popular news items, and adjusting accordingly... Here's to next month!
  • #185
  • Sep 21, 2006 8:17am Sep 21, 2006 8:17am
robert,

which EA are you using Amazing or StraddleEA?
  • #186
  • Sep 21, 2006 10:30am Sep 21, 2006 10:30am
Hi

I'm using AmazingEa 1.1.8... What is the difference?

Cheers
  • #187
  • Sep 22, 2006 12:26am Sep 22, 2006 12:26am
Quoting BurgerKing
robert,

The simplest, without having to modify the script, is to simply specify a larger SL.

NZ news are big movers. But due to lack of liquidity, the ASK (Buying Price) will surely be higher than usual.

IF the spread widen during seconds before news, You might see your straddle entries 10 pips below Bid and 5 pips above Ask which is not good.

Therefore, I suggests that there to have two PipsAway: One for the Ask and the other for Bid. This way, if we are expecting widening of spreads, we can specify a BuyPipsAway at 15 while still maintaining SellPipsAway at 10...

It suck to be stopped out earlier huh? I hate that! Next time, we know better to set SL to 15 (or even 20) ! besides, its a winner anyways.
BurgerKing,

I'm not sure what you're saying. Why should there be two pipsaway? When the spread gets wider before news it should adjust automatically on both sides. I've seen it happen on the CAD's CPI. What you might be seeing is one of the stop orders getting further away due to price going to that direction, perhaps? So the other stop order remains unchanged? I guess if you wanted to set both at a different distance then yes, you would need two pipsaway. Though I'm not sure how that would be beneficial.

I checked the code on all these amazing ea's and it looks like they should be moving both orders no matter where the price is going so it should stay even all the time. However that's not what is doing. It only moves the order if the price is going to that direction. I'm new to metaeditor so I could be reading it wrong but I'm having a ball editing the heck out of it, it's the only way to learn. There's a few things that don't work properly with this ea, but it's still a nice ea.
  • #188
  • Edited 7:54am Sep 22, 2006 5:04am | Edited 7:54am
Spread flactuates. But the Entry Order's Entry price, once placed, do not adjust on its own.

Spreads oftentimes flactuates far too fast for EAs to noticed and adjust (even if you are using an adjusting EA). I even noticed that it can shoot from 5 pips to 10 pips in one tick even before the release of news.

Do take note:

If the price shoots up due to volatility, the BUY price lack liquidity and the SELLER would actually sell at a far higher price than the BUY (ASK) price. Compound these two together: increased ASK price + increased spread = big spike upward.

This is why I just modified my Straddle script to have different BUYDistance and SellDistance; this way I can have better control of the LONG side.

I just downloaded and studied AmazingEA; Indeed, it has codes to adjust the entry prices. However, do you think that it can adjust faster than server's price ticks? During volatility, the price tick comes in far too fast even for EA to issue OrderModify and for the server to process it..

However, I'd give AmazingEA the benefit of the doubt and will try something out about Trailing Entry points. I personally HOPE that AmazingEA is in the right path about Trailing Entry Points so we dont enter the market prematurely....
  • #189
  • Sep 22, 2006 7:03pm Sep 22, 2006 7:03pm
From my observation, AmazingEA do modify the entry price but noticed that it can't cope when the pair is experiencing "fast tick changes"...
  • #190
  • Edited 7:55am Sep 26, 2006 5:32am | Edited 7:55am
hi guys

is there anyway how to fix the problem with the lot amount? i tried it now on my fxdd account and there is the same problem with the lots.

i tried also this advice of wallym but it didnt work too.

http://www.forexfactory.com/forexfor...&postcount=175

EDIT: it solved the problem with the lotsize, i made a mistake
  • #191
  • Sep 27, 2006 8:47am Sep 27, 2006 8:47am
BurgerKing,

Perhaps you can help me with this...

http://www.forexfactory.com/forexfor...&postcount=170

Can you point me in the right direction on how change the script to achieve this?

I appreciate any help you can give.
  • #192
  • Sep 27, 2006 9:09am Sep 27, 2006 9:09am
Which settings do u think has the best performance?

Do We need to have an universal settings or its need to change for every single important event?

What do u choose straddleEA or AmazingEA 1.1.8?

Letīs improve this amazing idea.
  • #193
  • Oct 3, 2006 8:23am Oct 3, 2006 8:23am
I know this is more of a conspiracy theory type of idea, BUT... What if the brokers insert proprietary code into their repackaged version of Metetrader?? Could that cause some of the issues people are having with News events?? Which leads me to, can we use plain 'Metatrader' on IBFX, SBFX, etc.... or do we have to stick with the brokers version of metatrader??

Rusty
  • #194
  • Oct 6, 2006 12:07pm Oct 6, 2006 12:07pm
ok the above post was probably silly.

But seriously.... who used Amazing, or Straddle today on NFP, and made out?? Picked up 50 pips on the only pair I traded, first time using Amazing. Too bad it was only .3 mini lots ($15) But it worked!!! In such a volatile news announcement, what settings are recommended?

Thanks

Rusty
  • #195
  • Oct 10, 2006 3:00pm Oct 10, 2006 3:00pm
This post might be out of the scope of this thread, but just a thought:

If we a trading a bigger amount of lots, you are buying/selling not against your broker. The orders are packaged and sent to the bank or whatever institution counter trades your trades. The process is auto and you have a feed of data that comes through this bank or institution.
If we are buying/selling mini lots, like 0.1 - 0.9 - we are trading against the broker (expecially if the orders are entered at the last minutes), then the broker should cover your trades. To do that they might use a manual data feed. The result: freezing of a platform, a bigger spread and all the nuisances the small traders experience.
Even if I am right, I don't know what to do about it. I don't want to trade big lots, during the news. Maybe MoneyMaster is right. Maybe one should do it but just to a friction of time: for a minute no more.

Hope it helps.
  • #196
  • Oct 24, 2006 12:38am Oct 24, 2006 12:38am
Quoting 20pipperdaily
I have been straddle trading for some time now with good success. I am interested to hear or see any programming that will help.


Currently placing order entry in 10 pips high and 10 pips low of current price 3 mins before major us and eur annoucements. With 10 stop loss on each. Too many positive trades in row to count.

I would be interested in your program.
.........................................................................

hi 20pipers,

What broker do you use? wouldn't your 10pips SL be "whip" by the widening spread of most brokers during major news. Thanks in advance for sharing.

Rgds,
ed
  • #197
  • Oct 24, 2006 3:21am Oct 24, 2006 3:21am
Quoting OrangeRoshan
This is Brilliant. Im making pips with my methods but when straddling can make me good pips, ill rather straddle coz its less pressure and predictable. Its guarantee Pips!

We should focus on:

(1) Enhancing the current EA
(2) Developing EAs for other platforms
(3) Organising list of brokers that allow us to straddle with no slippage. We could then discuss everyone experience. Personally GFT, have bad fill, 1 minute after execution and slippage up to 40pips.

Thanks for the EA. Newbies should get into this thread.

Btw, ive check with many pros, they also straddle. In short they comment was, "WHY NOT?"

Make Pips not War!
Hi Orange,

Any luck in developing EAs for other platforms?..especially Easy Language for TradeStation...some TS Brokers pips spread are amazingly little and platform is also stable during news time.
  • #198
  • Oct 24, 2006 4:33am Oct 24, 2006 4:33am
Hope someone can clear my confusion about the value we enter for SL=?

Scenerio...
if i enter SL=10
and at news time, Amazing EA triggered a BUY order for GBPUSD with current spread of>

Bid 1.8010
Ask 1.8019

so, it means i have bought GBPUSD at 1.8019
Now, with my SL=10...
will my SellToClose order be 1.8009 or 1.8000?
i.e. is the 9pips spread included/excluded in the SL=10 calculation?

confuse,
ed
  • #199
  • Nov 19, 2006 11:41am Nov 19, 2006 11:41am
Quoting edcheong
Hope someone can clear my confusion about the value we enter for SL=?

Scenerio...
if i enter SL=10
and at news time, Amazing EA triggered a BUY order for GBPUSD with current spread of>

Bid 1.8010
Ask 1.8019

so, it means i have bought GBPUSD at 1.8019
Now, with my SL=10...
will my SellToClose order be 1.8009 or 1.8000?
i.e. is the 9pips spread included/excluded in the SL=10 calculation?

confuse,
ed
Yeah me too. A little bit confusing
Hope someone can give explainations on this.
Trade the Possibilities
  • #200
  • Nov 19, 2006 12:06pm Nov 19, 2006 12:06pm
about the amazing ea, and SL, the ea should adjust your orders according spread before the time arrives, so if spraed increase to 9 pips it will atumatically change the value of orders and set them accordingly, that would be a buy stop 10 pip above the ask price, and one sell stop 10 pips below the bid price, and both orders should have 10 pip sl, and you can change the sl and tp.
hope it helps
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