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Simple Monday-Tuesday System (attached calculator)

OK PaulDV many thx
I'm going to use it next week
Quoting PaulDV
{quote} Thanks for the feedback. Having looked at the charts, I suspect that it's to do with price moving after the order has been triggered. The EA won't place an order exactly on the entry line - the entry line is there purely as a visual marker for the trader - rather it is waiting for the price to reach OR EXCEED the trigger price. It then calculates the entry price based on the CURRENT PRICE at that time. So, if the price is moving quickly, it is possible for the price to be a few pips higher (or even lower) than the trigger point.
Also called slippage. Any market order on Mt4 should define an amount of slippage when the ea sends the order. This is one of the differences between using stop orders as they are executed when hit. There are of course pros and cons as I detailed some time ago. Pending orders are not conditional whereas market ones can be. Pending orders are sitting on the brokers server so once set you can shut down and wait for Friday. Market orders require your PC to be on all the time. No right or wrong just different trade offs. Of course there are 100s of ways to program this. Trust that helps.
Good trading
Quoting Spikehunter
{quote} Also called slippage. Any market order on Mt4 should define an amount of slippage when the ea sends the order. This is one of the differences between using stop orders as they are executed when hit. There are of course pros and cons as I detailed some time ago. Pending orders are not conditional whereas market ones can be. Pending orders are sitting on the brokers server so once set you can shut down and wait for Friday. Market orders require your PC to be on all the time. No right or wrong just different trade offs. Of course there are...
Thanks, but not quite: slippage is where the price moves from the price that the order is requesting, and if the new price is sufficiently far from the requested price, then the order will be rejected. My EA has a setting for it which I've defaulted to 2 pips, to avoid orders being rejected when slippage is small, and records errors due to slippage and shows them on the information panel.

But this isn't slippage that we were talking about, rather I was trying to explain the fact that the EA won't necessarily open the order exactly on the signal line (like a pending would most likely do), because the price can go higher before the EA detects that it now needs to place an order. In the example given, the order was opened 5.5 pips higher than the signal line. If it had been due to slippage then the order would have been rejected and an error recorded in the logs and shown on screen, so it was more likely a small spike in price beyond the signal line.
"Pips are vanity. Profit is sanity."
hello paul,
i'm testing your EA, btw. big thanks to you.
i'm wondering if a second trade is made by intention?
this is NZDUSD in H4.
Attached Image
Quoting Oshadiif
hello paul, i'm testing your EA, btw. big thanks to you. i'm wondering if a second trade is made by intention? this is NZDUSD in H4. {image}
Er...no, that's not supposed to happen!

I did have that bug in my testing before I released it, but I was sure that I had fixed it, otherwise I would not have released it.

I'll take a look and see if I can reproduce it.

Can you confirm which version this was with? Did you do anything out of the ordinary such as removing the EA and restarting it, or switching timeframes? Anything like that?

I've just run it through the tester, and it worked flawlessly:
Attached Image


Any info you could give me might help.
"Pips are vanity. Profit is sanity."
My results with MoTuBo EA 1.1
Next week I will not use AUD NZD and CAD pairs and I'll set SL ratio 60 %
Attached Image (click to enlarge)
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Quoting PaulDV
{quote} Thanks, but not quite: slippage is where the price moves from the price that the order is requesting, and if the new price is sufficiently far from the requested price, then the order will be rejected. My EA has a setting for it which I've defaulted to 2 pips, to avoid orders being rejected when slippage is small, and records errors due to slippage and shows them on the information panel. But this isn't slippage that we were talking about, rather I was trying to explain the fact that the EA won't necessarily open the order exactly on the...
No problem.
Quoting PaulDV
{quote} Er...no, that's not supposed to happen! I did have that bug in my testing before I released it, but I was sure that I had fixed it, otherwise I would not have released it. I'll take a look and see if I can reproduce it. Can you confirm which version this was with? Did you do anything out of the ordinary such as removing the EA and restarting it, or switching timeframes? Anything like that? I've just run it through the tester, and it worked flawlessly: {image} Any info you could give me might help.

version 1.01
did nothing special
it happens with a few pairs
on others with similar drop and recover its not, like NZDCHF
i run all 28 pairs with fixed 0.01 lot.
and quite happy with the numbers overall

best
oshadiif
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Hi paul, the trail stop how exactly works? Thanks for that effort!!
Quoting smashall2000
{quote} Thanks for the reply, not script but .xlsx file calculator. Anyway I'm on mobile this period and will be for a while so I just want an excel calculator based on his settings. I intend to enter trades manually for few pairs. I'm new here so If you can help with the calculator it would be great
If you are on Android, there is an app for that, ironically it’s called “Forex Calculator”

Cheers

If you trade like me, you'll be homeless and broke within a week.
Texas-2-Step All Time Return: -28.1%
Quoting zoraxfx
My results with MoTuBo EA 1.1 Next week I will not use AUD NZD and CAD pairs and I'll set SL ratio 60 % {image}
Hi, could you explain to me how to create a report like yours?
Quoting PaulDV
{quote} Er...no, that's not supposed to happen! I did have that bug in my testing before I released it, but I was sure that I had fixed it, otherwise I would not have released it. I'll take a look and see if I can reproduce it. Can you confirm which version this was with? Did you do anything out of the ordinary such as removing the EA and restarting it, or switching timeframes? Anything like that? I've just run it through the tester, and it worked flawlessly: {image} Any info you could give me might help.
Sorry for this question but im farr from my computer to check this. Its posible to do back test with your EA? And check how EA was doing in the past. Sorry for my English
Quoting FrancescoDTM
{quote} Hi, could you explain to me how to create a report like yours?
He use an indicator call TRADE REPORT

You can search here on FF to find it

Or sneak onto Steve Hopwood Forex Forum

And grab the latest version, be careful

If you trade like me, you'll be homeless and broke within a week.
Texas-2-Step All Time Return: -28.1%
@ Francesco put in the folder Indicators
Attached File(s)
File Type: mq4 TradeReport_compact - avec DD.mq4   153 KB | 317 downloads
I am amazed at the effectiveness and simplicity of this strategy. all pairs have obtained a minimum of 1-1 risk-benefit. examples.
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Quoting porfirio
I am amazed at the effectiveness and simplicity of this strategy. all pairs have obtained a minimum of 1-1 risk-benefit. examples. {image} {image} {image} {image} {image} {image}
I believe that maybe we should be using a 2:1 target in times like these when the ranges are substantially bigger than normal, and they are trending. In normal conditions I believe that using 1:1 targets is the way to go. We are not in normal conditions though. Maybe use 3:1 as our overall target but take 1/2 off at 1:1 or something.....just a thought. I personally will always use 1:1 as my target most likely and I don't like taking 1/2 off my trades. I only mention it because i know it's a popular strategy.
Quoting bojack34
{quote} I believe that maybe we should be using a 2:1 target in times like these when the ranges are substantially bigger than normal, and they are trending. In normal conditions I believe that using 1:1 targets is the way to go. We are not in normal conditions though. Maybe use 3:1 as our overall target but take 1/2 off at 1:1 or something.....just a thought. I personally will always use 1:1 as my target most likely and I don't like taking 1/2 off my trades. I only mention it because i know it's a popular strategy.
Every trade is different of course, and hindsight is always right. I like having a TP in place in case of sudden spikes, usually at 2 to 1

Look what can happen crude oil news, price went up, CAD got strong, ah, that’s CHF so affected a lot of pairs

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If you trade like me, you'll be homeless and broke within a week.
Texas-2-Step All Time Return: -28.1%
Bojack, 2-1 is feasible thanks to the trend. Another option is to move the SL to the entry point once the first TP has been reached.
Quoting Erebus
{quote} Every trade is different of course, and hindsight is always right. I like having a TP in place in case of sudden spikes, usually at 2 to 1 Look what can happen crude oil news, price went up, CAD got strong, ah, that’s CHF so affected a lot of pairs {image}
I'm glad you posted this picture Erebus. Look at where price went after it hit the TP2.....it went back up to our SL almost to the pip. I seen this too many times during my visual backtest so I think that instead of using a 50% SL we can use a 55% SL to avoid times like these.
Quoting bojack34
{quote} I'm glad you posted this picture Erebus. Look at where price went after it hit the TP2.....it went back up to our SL almost to the pip. I seen this too many times during my visual backtest so I think that instead of using a 50% SL we can use a 55% SL to avoid times like these.
I wonder if the Stop Loss was 50% of Entry (instead of Low) to the High, in this example

Let’s see, that would be... Anyone good with maths?



Rough guess, about 7.5% above the current 50%, so about right where you say, let me work on it with Fibonacci

If you trade like me, you'll be homeless and broke within a week.
Texas-2-Step All Time Return: -28.1%
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