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London close trading system for currencies

  • #2,621
  • Dec 30, 2019 8:43pm Dec 30, 2019 8:43pm
Many thanks xmess7 - very clear - so this should have been a short sell on the GBPUSD today yes - screenshot attached (IC Markets demo acct.)?

Just to advise this has only been loaded 24 hours if that makes a difference.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 307 KB
  • #2,622
  • Dec 30, 2019 8:47pm Dec 30, 2019 8:47pm
Quoting marketace
Many thanks xmess7 - very clear - so this should have been a short sell on the GBPUSD today yes - screenshot attached (IC Markets demo acct.)? Just to advise this has only been loaded 24 hours if that makes a difference. {image}

Yes correct. If one was trading today they would have gotten a GU short and UC long.


Jeff
I EAT PIPS
  • #2,623
  • Dec 30, 2019 11:40pm Dec 30, 2019 11:40pm
Quoting marketace
Many thanks xmess7 - very clear - so this should have been a short sell on the GBPUSD today yes - screenshot attached (IC Markets demo acct.)? Just to advise this has only been loaded 24 hours if that makes a difference. {image}
marketplace,
You are almost correct . Yes open price at 17:00 GMT is within the sell (100-76.4%) but the minimum distance from the 76.4% level to the open of price at 17:00 GMT is less then 8 pips, so no trade.

Rule 3: Limitorders buy and sell on the 0 line buy or 100 line sell - but the Order must have a minimum (10) 8 Pips from the actuell price line
if not make the order with (10) 8 Pips distance to the actual pricing

It use to be 10 pip but in one of the posts I saw Ghost change it to 8 pips. You can change that value to something that you prefer. Just change the input:
"Minimum pips to TP (100/76.4 zones) " to whatever suites you. The defaults is 8 pips.

BTW In the video I have on the github site (https://github.com/xmess7/LondonCloseEA) I show you how to use the debug input. With that you can know exactly if the EA missed or made a mistake. In the case above if u had had the debug =true , you would of seen in the logs something like this
"GBPUSD TEST: Failed minimum pip distance... pip distance was 5 pips, required pip distance is 8 pips."

Check out the video it explains how to use that feature to check that the EA is doing its job.

Peace
JEss
Our AWESOME IMAGINATION is the true holy grail!
  • #2,624
  • Dec 31, 2019 1:03am Dec 31, 2019 1:03am
Thanks Jess and Jeff - much appreciated!
  • #2,625
  • Dec 31, 2019 2:48am Dec 31, 2019 2:48am
Quoting xmess7
so no trade
Correct! No trade on my live account yesterday...
  • #2,626
  • Dec 31, 2019 7:59am Dec 31, 2019 7:59am
good luck by the trading next year is coming 2020 fast :-)
  • #2,627
  • Dec 31, 2019 11:13am Dec 31, 2019 11:13am
Even today two trades:
gpbjpy sell
usdcad buy

both in a quick basket take profit, great finish of the year. Looking forward to trade and share ideas with you @all in 2020!

Take care and cu next year...!
  • #2,628
  • Dec 31, 2019 11:15am Dec 31, 2019 11:15am
8 fast trades today for me live +1.5 percent on reduced TP. Happy New Year everyone. May it be a great year for us all. See you in 2020.



Jeff
I EAT PIPS
  • #2,629
  • Jan 1, 2020 9:48am Jan 1, 2020 9:48am
Hi, have you got any performance records since you started in 2016? Is this a fully automated EA?
  • #2,630
  • Jan 1, 2020 10:37am Jan 1, 2020 10:37am
Quoting xmess7
EA UPDATE v39 EA and INDICATOR UPDATES Files located at: https://github.com/xmess7/LondonCloseEA The latest feature is now completed. The EA will now close pending orders once the corresponding market order hits TP/SL or is closed manual. No more errors are shown in the logs. In addition if the EA is closed or restarted for any reason it WILL REMEMBER what limit orders belong to what market order. ENJOY! JESS {file}
Thanks, is this free to use? Do you have any performance records?
  • #2,631
  • Jan 1, 2020 10:51am Jan 1, 2020 10:51am
Quoting GodRa
Hi, have you got any performance records since you started in 2016? Is this a fully automated EA?
I don’t use this as fully automated. I let the EA scan the pairs to see if they meet the requirements to enter a trade and then manually close the trades as a basket. The best way to use this system is as a semi automated system. It’s not a set and forget system.


Jeff
I EAT PIPS
  • #2,632
  • Jan 1, 2020 11:10am Jan 1, 2020 11:10am
Quoting GodRa
{quote} Thanks, is this free to use? Do you have any performance records?
It’s free to use Xmess7 EA which is based on Ghostbiker’s London Close strategy. Or you can purchase Ghostbiker’s Panel and EA to control the trades too which some members have.



Jeff
I EAT PIPS
  • #2,633
  • Jan 1, 2020 11:13am Jan 1, 2020 11:13am
Quoting GodRa
{quote} Thanks, is this free to use? Do you have any performance records?
Performance will vary depending on when each trader closes the open trades. Personally I set a TP target on a basket of 3 percent and adjust accordingly depending on various factors. I personally think once one gets use to this system they develop there own method of closing trades. The results I post daily are accurate and based on my own results Ghostbiker's are accurate too.


Jeff
I EAT PIPS
  • #2,634
  • Jan 1, 2020 11:27am Jan 1, 2020 11:27am
Thanks. Regarding broker time, I've watched the video but still a bit lost. I have MT4 market watch as 23:23, EA broker current time as 17:59 GMT, PC time as 17:27 GMT and indicator GMT offset as -21.
  • #2,635
  • Jan 1, 2020 11:30am Jan 1, 2020 11:30am
Quoting GodRa
Thanks. Regarding broker time, I've watched the video but still a bit lost. I have MT4 market watch as 23:23, EA broker current time as 17:59 GMT, PC time as 17:27 GMT and indicator GMT offset as -21.
I set mine at 17:00 GMT trade time. Which is 19:00 on my broker.
I EAT PIPS
  • #2,636
  • Jan 1, 2020 12:20pm Jan 1, 2020 12:20pm
Quoting GodRa
Thanks. Regarding broker time, I've watched the video but still a bit lost. I have MT4 market watch as 23:23, EA broker current time as 17:59 GMT, PC time as 17:27 GMT and indicator GMT offset as -21.
GodRa:
The open hour input is GMT. So if u enter 17:00 the EA will automatically determine the open hour for your broker.
Wait for the market to open and then check again the GMT offset. IF you opened the EA yesterday when the market was opened you should be able to see the correct GMT offset in the globals. Hit F3 and then look for xm7_brokerOffset. Typically brokers are +0 to +3 ahead of GMT.

But basically you don't have to worry about starting at a different time then anyone else. If Ghost were to tell us to start at 11:00 GMT then all u need to do is enter 11:00 GMT as the start trade time and the EA will calculate the difference and start at the correct broker time.

Hope that helps..
J
Our AWESOME IMAGINATION is the true holy grail!
  • #2,637
  • Jan 2, 2020 6:38am Jan 2, 2020 6:38am
server time = 17:58 = 16:58 GMT start

Attached Image (click to enlarge)
Click to Enlarge Name: LondonClose_1.png Size: 75 KB
  • #2,638
  • Jan 2, 2020 6:40am Jan 2, 2020 6:40am
Quoting ghostbiker
{image}
And how do I get that screen?
  • #2,639
  • Edited 12:01pm Jan 2, 2020 11:34am | Edited 12:01pm
9 open trades today live closed with +3.0 percent gain with TP. Tomorrow I won’t trade due to FOMC minutes. See you all on Monday.



Jeff
I EAT PIPS
  • #2,640
  • Jan 2, 2020 11:50am Jan 2, 2020 11:50am
Quoting jshear
9 open trades today live closed with +3.0 percent gain with TP. Tomorrow I won’t trade due to FOMC minutes. Jeff
Wow.. 3% gain a day... incredible... would you mind post your trades so I know and learn about your entries...
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