Trading is as simple as 1-2-3 (EA) | Forex Factory

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Trading is as simple as 1-2-3 (EA)

  • #1
  • First Post: Edited Dec 21, 2017 3:25am Dec 20, 2017 6:29am | Edited Dec 21, 2017 3:25am
Hi All

This thread is directly related to this one: https://www.forexfactory.com/showthread.php?t=549745

The author of that thread is not interested in EA's. I like the authors idea TooSlow, there is certainly potential. ALL CREDIT to author for the idea.

I have coded an EA with the base rules from this thread. However, time and risk filters have been added to keep out of certain trades. This EA can be configured to run on multiple currency pairs from a single chart. Just make sure you use a 1 HOUR chart. NOTE: It has been coded to work with a 5 digit broker - I'm not sure if it works on a 4 digit broker.

BIGGEST DRAWBACK? Risk Reward Ratio according to the original rules - doesn't quite cut it. The losses can easily wipe out the gains.

I am hoping there are some smart / creative people out there, that can help me improve on this idea, especially:

  1. Risk Reward Ratio
  2. Avoiding Some Bad Trades
  3. Milking Some Good Trades for as Much As Possible

Of course, any improvements are welcomed.

VERSION 1.01

  1. TradingStartHour - hour to start trading.
  2. TradingStartMinute - minute to start trading.
  3. TradingEndHour - hour to stop trading.
  4. TradingEndMinute - minute to stop trading.

VERSION 1.02

  1. EntryMinRisk - minimum risk in pips.
  2. EntryMaxRisk - maximum risk in pips.
  3. EntryMinMovement - minimum retracement before executing order.

THERE MIGHT BE BUGS! USE AT OWN RISK! DEMO FIRST.

NO HATERS OR SPAMMERS, PLEASE!!! REMAIN CORDIAL AT ALL TIMES ELSE YOU WILL BE BANNED.

Attached File(s)
File Type: ex4 1-2-3 Simple.ex4   29 KB | 535 downloads
  • #2
  • Dec 20, 2017 6:44am Dec 20, 2017 6:44am
You finally get it to work then?
  • #3
  • Dec 20, 2017 6:46am Dec 20, 2017 6:46am
Quoting lemercenaire
You finally get it to work then?
It does work according to the rules, but the R:R is what let's me down. Not sure what I can do about that.
  • #4
  • Dec 20, 2017 6:52am Dec 20, 2017 6:52am
Quoting samsha786
{quote} It does work according to the rules, but the R:R is what let's me down. Not sure what I can do about that.
Counter-Trade. Won't be able to use it in the US though.
  • #5
  • Dec 20, 2017 6:52am Dec 20, 2017 6:52am
I just downloaded the EA and ran it and it opened up trades on USDCAD right away. It doesn't appear that USDCAD was a proper 1-2-3 trade set up. I'm not sure if the EA is ready to go yet.
  • #6
  • Dec 20, 2017 6:53am Dec 20, 2017 6:53am
Quoting bojack34
I just downloaded the EA and ran it and it opened up trades on USDCAD right away. It doesn't appear that USDCAD was a proper 1-2-3 trade set up. I'm not sure if the EA is ready to go yet.
You think?
  • #7
  • Dec 20, 2017 6:55am Dec 20, 2017 6:55am
Quoting lemercenaire
{quote} You think?
The only 1-2-3 set-up on UC was at 09:00 this morning UK time.
  • #8
  • Dec 20, 2017 6:56am Dec 20, 2017 6:56am
Quoting lemercenaire
{quote} The only 1-2-3 set-up on UC was at 09:00 this morning UK time.
There's one coming now though - will be interesting (sort of) to see if it catches it.
  • #9
  • Dec 20, 2017 7:12am Dec 20, 2017 7:12am
Quoting lemercenaire
{quote} The only 1-2-3 set-up on UC was at 09:00 this morning UK time.
I'll have a look to see what happened here.
  • #10
  • Dec 20, 2017 7:12am Dec 20, 2017 7:12am
Quoting lemercenaire
{quote} There's one coming now though - will be interesting (sort of) to see if it catches it.
Did it catch it?
  • #11
  • Dec 20, 2017 7:17am Dec 20, 2017 7:17am
Quoting lemercenaire
{quote} Counter-Trade. Won't be able to use it in the US though.
What do you mean by that?
  • #12
  • Dec 20, 2017 7:29am Dec 20, 2017 7:29am
Quoting samsha786
{quote} What do you mean by that?
I think samsha meant hedging.
"Hands that help are holier than lips that pray" Shirdi Sai Baba
  • #13
  • Dec 20, 2017 7:33am Dec 20, 2017 7:33am
Quoting lemercenaire
{quote} Counter-Trade. Won't be able to use it in the US though.
In this setup, what would be the entry and exit strategy for creating the hedge?
  • #14
  • Dec 20, 2017 8:06am Dec 20, 2017 8:06am
Quoting samsha786
{quote} In this setup, what would be the entry and exit strategy for creating the hedge?
At its simplest, enter in the opposite direction at the point where you would have had the sl.

Once spread has cleared, never let that second trade go negative.

At some point, if the trade does not turn back (where one would re-enter) then the original trade is closed.

This kind of scalping in and out to eat away at a floating loss is easy to do (well, with experience it's easy, anyway) but not so sure if an EA would function in the same way as a human's logic. I don't know enough about that to really say.

There would be the issue of available margin on this kind of trading also.
  • #15
  • Dec 20, 2017 8:07am Dec 20, 2017 8:07am
Quoting samsha786
{quote} Did it catch it?
You'd have to ask Bo, I'm not running the EA.
  • #16
  • Dec 20, 2017 8:15am Dec 20, 2017 8:15am
Quoting lemercenaire
{quote} You'd have to ask Bo, I'm not running the EA.
Thanks! I have contacted him.
  • #17
  • Dec 20, 2017 8:16am Dec 20, 2017 8:16am
Quoting lemercenaire
{quote} At its simplest, enter in the opposite direction at the point where you would have had the sl. Once spread has cleared, never let that second trade go negative. At some point, if the trade does not turn back (where one would re-enter) then the original trade is closed. This kind of scalping in and out to eat away at a floating loss is easy to do (well, with experience it's easy, anyway) but not so sure if an EA would function in the same way as a human's logic. I don't know enough about that to really say. There would be the issue of available...
Could you put together an image or Excel rows that demonstrate this point?
  • #18
  • Dec 20, 2017 8:58am Dec 20, 2017 8:58am
Quoting samsha786
{quote} Could you put together an image or Excel rows that demonstrate this point?
I don't use Excel. Wouldn't know where to begin.

Putting together an image would require multiple screenshots of a trade as it developed, while I was trading it. Sorry, that's not something I'm really prepared to do. I think the description I gave covers the concept pretty well.

To get a feel for what counter-trading is all about, I suggest running a few trades on demo (even just random entries) and countering out of them if they go against your original direction of choice.
  • #19
  • Dec 20, 2017 9:07am Dec 20, 2017 9:07am
Quoting lemercenaire
{quote} You'd have to ask Bo, I'm not running the EA.
Sorry, I turned the EA off after about 10 seconds. I noticed it immediately took a wrong trade so I turned it off and deleted the EA. Sorry I cannot be of any help. Good Luck.
  • #20
  • Dec 20, 2017 9:44am Dec 20, 2017 9:44am
Quoting lemercenaire
{quote} I don't use Excel. Wouldn't know where to begin. Putting together an image would require multiple screenshots of a trade as it developed, while I was trading it. Sorry, that's not something I'm really prepared to do. I think the description I gave covers the concept pretty well. To get a feel for what counter-trading is all about, I suggest running a few trades on demo (even just random entries) and countering out of them if they go against your original direction of choice.
Thanks!
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