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SRDC Episode I

  • #161
  • Nov 1, 2006 1:18pm Nov 1, 2006 1:18pm
O,

Thanks for all your speedy replys. My last Q. Do you leave your other entry pending till the daily close?

FJedi

Quoting OrangeRoshan
Lastnyte trade on AUDUSD was around 52pips. I dunno how you lost 20pips unless you have a SL less than 30pips.
Anyway, I use 1-2pips + spread (3pips).

Say Resistance is 0.7701. My Pending Stop Buy is 0.7701 + 2 + 3 = 0.7706
Lastnyte I got the full pips as my TL is 35pips. I made pips while I was sleeping.

Draw trend line and watch the trend direction. When the trend is upwards, which is the case now, and with fundamentals; Dollar weakening and Down under economy is getting stronger, especially with possible Interest Rates hike, AUD is a sure Up Up and away!! I know its near to May High, this friday when dollar's data is weak, expect the croc to rise on the bay.

AUDUSD is a very sober pair, movement is not erotic, just like their crocordiles, friendly bunch!! Traillock of 35 should get you maximum pips or at least a winning trade at the end.

I hope my explaination makes Aussie dollar not only Cents.
Stacking pips since 2002
  • #162
  • Nov 1, 2006 1:27pm Nov 1, 2006 1:27pm
Quoting forexjedi
O,

Thanks for all your speedy replys. My last Q. Do you leave your other entry pending till the daily close?

FJedi
Yes and No. It depends on the situations. But, usually I let it ride, even the pips turned negative but I know it will reverse due to the trend, then i will sleep with my trades eventually changes to my favor.

When I wokeup and its still negative I reaccess the trade and might hedge it instead until the trend favors me. Just a word of caution. You need experience and emotionless to do this, otherwise close the trade. Theres always another day. Due to this, risk management is important. Losing trade is norm nothing to fear because you made winning trade more than losing.

5pips at a time, especially when brushing croc teeth!!

Cheerup!!
Change Your Thinking. Change Your Life - JD
  • #163
  • Nov 1, 2006 1:28pm Nov 1, 2006 1:28pm
using IBFX atm

brunei is +GMT8. what time does the ibfx charts use? or do you use daily as in +GMT8, depending on your location? regardless of the chart's time?
  • #164
  • Nov 1, 2006 1:35pm Nov 1, 2006 1:35pm
Quoting Narc
using IBFX atm

brunei is +GMT8. what time does the ibfx charts use? or do you use daily as in +GMT8, depending on your location? regardless of the chart's time?
I dont quiet get your question but i will try to answer it.

The charts we see in our platform solely depends on the Broker's server. With IBFX and Multibank, Dailycandle starts at 6am Brunei Time, 17:00 EST, 22:00 GMT, 09:00 Sydney and 22:00Z UTC.

Its fantastic, after solat, put pending orders, greet the kids & wife, b'fast with them, take a short peek at the charts, then walk slowly to my soft dreamland bed smiling knowing, its another goodday for me.

Thank God!
Change Your Thinking. Change Your Life - JD
  • #165
  • Nov 1, 2006 1:40pm Nov 1, 2006 1:40pm
Skyline,

The trades are doing fine with your EA. But I notice some irregularity.
AUDUSD tp is 20pips on the orders but I set them to 60 with 0 Trail. My settings are as posted.

What are SL move at / move to?

Thanks for the effort.
Change Your Thinking. Change Your Life - JD
  • #166
  • Nov 1, 2006 1:48pm Nov 1, 2006 1:48pm
<TABLE style="TEXT-ALIGN: left" cellSpacing=0 cellPadding=0 width=600 border=0><TBODY><TR><TD>The Australian dollar is setting up perfectly for our Extension Fade strategy. This is a pure technical, low risk play.<SCRIPT><!--D(["mb","
\n \n \n The clearest Extension Fade is in AUD/CAD. The\ncurrency pair has printed a positive candle for 8\ntrading days now - over the past 10 years, we have\nonly seen 5 periods where the AUD/CAD has\nstrengthened for 8 trading days with only 1 out of\nthose 5 extending beyond 8 days.\n

\n \n \n \n\n\t\n </td>\n</tr>\n\n\n\n<tr>\n <td colspan\u003d\"1\" rowspan\u003d\"1\">\n\t\n
\n \n\n \n\n \n \n\n\n The AUD/USD is also doing a similar thing. The\ncurrency pair has rallied for seven straight days. \nIn the past 10 years, there were only 14 times that\nthe move has extended for 7 days, with only 3 of\nthose 14 lasting for longer than 7 days. We\ncredit our technical analyst Jamie Saettele for\nlooking that far back for us. \n \n \n Therefore we are looking to short one of these pairs\nwith the day\'s high as the stop. AUD/USD is our\npreferred play because of the lower spread, smaller\nrisk and possibilit of a firm payrolls on Friday. \nHowever we do want to point out that AUD/CAD does\nhave a greater\nstatistical significance.\n

\n \n\n \n \n

\n\n\t\n </td>\n</tr>\n\n\n\n\n\n\n<tr>\n <td colspan\u003d\"1\" rowspan\u003d\"1\">\n \n\t
\n \n\n \n\n \n \n\n\n Due to a prior engagement, we will NOT be in the\noffice to watch Australian data come out at 7:30pm\nEST (Retail sales and trade balance). Should the\ndata come out weak, we recommend a short with the\ntoday\'s high as the stop. As soon as we get back to\nthe offices later that evening (probably by 10pm\nEST), we will send out an update on what we think.\n \n \n These statistically rare events are hard to pass up.\n

\n \n\n \n \n ",1]);//--></SCRIPT>

The clearest Extension Fade is in AUD/CAD. The currency pair has printed a positive candle for 8 trading days now - over the past 10 years, we have only seen 5 periods where the AUD/CAD has strengthened for 8 trading days with only 1 out of those 5 extending beyond 8 days.

</TD></TR><TR><TD>
The AUD/USD is also doing a similar thing. The currency pair has rallied for seven straight days. In the past 10 years, there were only 14 times that the move has extended for 7 days, with only 3 of those 14 lasting for longer than 7 days. We credit our technical analyst Jamie Saettele for looking that far back for us. Therefore we are looking to short one of these pairs with the day's high as the stop. AUD/USD is our preferred play because of the lower spread, smaller risk and possibilit of a firm payrolls on Friday. However we do want to point out that AUD/CAD does have a greater statistical significance.



</TD></TR><TR><TD>
Due to a prior engagement, we will NOT be in the office to watch Australian data come out at 7:30pm EST (Retail sales and trade balance). Should the data come out weak, we recommend a short with the today's high as the stop. As soon as we get back to the offices later that evening (probably by 10pm EST), we will send out an update on what we think.



These statistically rare events are hard to pass up.

This is an email from Kathy & Boris, stay alert!!
</TD></TR></TBODY></TABLE>
Change Your Thinking. Change Your Life - JD
  • #167
  • Nov 1, 2006 1:49pm Nov 1, 2006 1:49pm
lurus pulang tu you answered my question

6AM is fine with me. after breakfast you got to sleep back? no work?

am setting a buy stop and sell stop atm. first attempt using your method with 5 pips TP only
  • #168
  • Edited 2:51pm Nov 1, 2006 2:04pm | Edited 2:51pm
Quoting OrangeRoshan
Skyline,

The trades are doing fine with your EA. But I notice some irregularity.
AUDUSD tp is 20pips on the orders but I set them to 60 with 0 Trail. My settings are as posted.

What are SL move at / move to?

Thanks for the effort.
Hi Orange,
SL_move_At and SL_move_to are the same meaning as first EA SRDC made by Iya , so when price hit SL_move_AT value then SL will be set to SL_move_to value.
It's strange what you are saying about wrong TP , I have 7 orders closed and all of them are with right TP that i did set. Be sure that value is set correctly on AUDUSD pair.

Anyway i'd like to release SRDC v2.1 , where there is new feature that calculate SL and TP variable based on an interesting indicator TSR Daily Range Calculator that calculates how much should be SL related to Average Daily Range of last 20 days with a fixed Risk_to_Reward_Ratio.
In this way EA automatically will calculate best SL and TP in a dinamycal way instead to be fixed.
So you can find two more variable that have to be set :
* SL_variable : if set to true then SL and TP will be calculated automatically based on TSR indicator otherwise StopLoss snf TakeProfit values will be used as usual.
* Risk_to_Reward_ratio : How much reward we want against risk for a trade. (For example if we want that our trades get a risk:reward = 1:3 we have to set 3)

(to understand how it will be calculated SL and TP I suggest to attach indicator TSR on your daily chart)

Attached File(s)
File Type: mq4 #(T_S_R)-Daily Range Calculator .mq4   14 KB | 974 downloads
File Type: zip SRDCv2.1_fixed.zip   2 KB | 1,105 downloads
  • #169
  • Nov 1, 2006 2:20pm Nov 1, 2006 2:20pm
do you use trail stop for your trades?

sori ah, luan banyak soalan ku ani :
  • #170
  • Nov 1, 2006 2:23pm Nov 1, 2006 2:23pm
Hi everybody,

Forex newbie, here. I'm loading the ea onto the respective charts and by reading the posts I see that the "Start time" paramater is a different for some of you... obviously because of the different MT4 brokers. Im using North Finance for my demo. Can anybody tell me what the "Start time" number should be for North Finance? Also is there an easy way to find out what that number would be, (in general) just in case I decide to try to demo a different broker (FXDD, InterBank FX).

Sorry if this is a stupid question, but the time zone thing confuses me.

Thanks
  • #171
  • Nov 1, 2006 2:30pm Nov 1, 2006 2:30pm
Quoting Narc
lurus pulang tu you answered my question

6AM is fine with me. after breakfast you got to sleep back? no work?

am setting a buy stop and sell stop atm. first attempt using your method with 5 pips TP only
Im a fulltime Jedi, pipster is my nick, Pipping is my game. Lol!!
Change Your Thinking. Change Your Life - JD
  • #172
  • Nov 1, 2006 2:33pm Nov 1, 2006 2:33pm
Quoting skyline
Hi Orange,
SL_move_At and SL_move_to are the same meaning as first EA SRDC made by Iya , so when price hit SL_move_AT value then SL will be set to SL_move_to value.
It's strange what you are saying about wrong TP , I have 7 orders closed and all of them are with right TP that i did set. Be sure that value is set correctly on AUDUSD pair.

Anyway i'd like to release SRDC v2.1 , where there is new feature that calculate SL and TP variable based on an interesting indicator TSR Daily Range Calculator that calculates how much should be SL related to Average Daily Range of last 20 days with a fixed Risk_to_Reward_Ratio.
In this way EA automatically will calculate best SL and TP in a dinamycal way instead to be fixed.
So you can find two more variable that have to be set :
* SL_variable : if set to true then SL and TP will be calculated automatically based on TSR indicator otherwise StopLoss snf TakeProfit values will be used as usual.
* Risk_to_Reward_ratio : How much reward we want against risk for a trade. (For example if we want that our trades get a risk:reward = 1:3 we have to set 3)

(to understand how it will be calculated SL and TP I suggest to attach indicator TSR on your daily chart)

Pipastic, You beat me 2it. Guess what I notice? 98% of lose trades from our EA are due to SL!! When the Calculator can help, why not!!

Brilliastic!!
Change Your Thinking. Change Your Life - JD
  • #173
  • Nov 1, 2006 2:35pm Nov 1, 2006 2:35pm
Quoting Narc
do you use trail stop for your trades?

sori ah, luan banyak soalan ku ani :
Yes.... 20-35-50 depending on the pair. Backtest it for best result!
Change Your Thinking. Change Your Life - JD
  • #174
  • Nov 1, 2006 2:36pm Nov 1, 2006 2:36pm
Quoting jac28403
Hi everybody,

Forex newbie, here. I'm loading the ea onto the respective charts and by reading the posts I see that the "Start time" paramater is a different for some of you... obviously because of the different MT4 brokers. Im using North Finance for my demo. Can anybody tell me what the "Start time" number should be for North Finance? Also is there an easy way to find out what that number would be, (in general) just in case I decide to try to demo a different broker (FXDD, InterBank FX).

Sorry if this is a stupid question, but the time zone thing confuses me.

Thanks
IBFX

Starttime 2
EOD 23
Change Your Thinking. Change Your Life - JD
  • #175
  • Nov 1, 2006 2:50pm Nov 1, 2006 2:50pm
Quoting OrangeRoshan
Pipastic, You beat me 2it. Guess what I notice? 98% of lose trades from our EA are due to SL!! When the Calculator can help, why not!!

Brilliastic!!
ehehe thanks Orange
I notice there's a little bug when calculating SL and TP , so here there is fixed version.
Furthermore i added another variable SL_min that is min SL accepted by our broker (I use NorthFinance and min stop loss have to be 10 pips so i set 10 if i want to use dinamyc SL and TP)
Attached File(s)
File Type: zip SRDCv2.1_fixed.zip   2 KB | 1,126 downloads
  • #176
  • Nov 1, 2006 2:54pm Nov 1, 2006 2:54pm
Quoting skyline
ehehe thanks Orange
I notice there's a little bug when calculating SL and TP , so here there is fixed version.
Furthermore i added another variable SL_min that is min SL accepted by our broker (I use NorthFinance and min stop loss have to be 10 pips so i set 10 of i want to use dinamyc SL and TP)
That was fast!! I dunno wat is IBFX minimum? I guess its zero, since i trade with no sl. So I think I put zero. I hope it works, sometimes it doesnt register any trade.

The Imperial Army is near!!
Change Your Thinking. Change Your Life - JD
  • #177
  • Nov 1, 2006 3:02pm Nov 1, 2006 3:02pm
Quoting OrangeRoshan
That was fast!! I dunno wat is IBFX minimum? I guess its zero, since i trade with no sl. So I think I put zero. I hope it works, sometimes it doesnt register any trade.

The Imperial Army is near!!
hihihihi You're so funny Orange
I can also be able to open a trade without S/L with NorthFinance but if i put a S/L it should have to be no less than 10 pips, so just to be sure that no errors will be given to EA i've set a SL_min to 10 in my forward test demo.
  • #178
  • Nov 1, 2006 3:10pm Nov 1, 2006 3:10pm
Quoting skyline
hihihihi You're so funny Orange
I can also be able to open a trade without S/L with NorthFinance but if i put a S/L it should have to be no less than 10 pips, so just to be sure that no errors will be given to EA i've set a SL_min to 10 in my forward test demo.
Blame it on Rob Booker & Dave Murphy. They influenced me!!!

Anyway, the EA register trades today all loss!! Guess what, SL for other pairs and Close trade for AUD which happens to bear!!

I have an idea. Can we make the EA smarter by closing the trade on breakeven 1 candle before the new daily candle opens? This way, instead of waiting for the next day and close wateva trade, it actually checks for the time and when its 1hour before closing and its positive, close the trade automatically.

Wat do you think?
Change Your Thinking. Change Your Life - JD
  • #179
  • Nov 1, 2006 3:19pm Nov 1, 2006 3:19pm
Quoting OrangeRoshan
Blame it on Rob Booker & Dave Murphy. They influenced me!!!

Anyway, the EA register trades today all loss!! Guess what, SL for other pairs and Close trade for AUD which happens to bear!!

I have an idea. Can we make the EA smarter by closing the trade on breakeven 1 candle before the new daily candle opens? This way, instead of waiting for the next day and close wateva trade, it actually checks for the time and when its 1hour before closing and its positive, close the trade automatically.

Wat do you think?
Sorry Orange i'm not sure to understand what are you asking for. Could you do an example please ?
  • #180
  • Nov 1, 2006 3:24pm Nov 1, 2006 3:24pm
Quoting skyline
Sorry Orange i'm not sure to understand what are you asking for. Could you do an example please ?
Ok.... hehehee...lol

A few hours ago audusd was positive pips, until on the last hour, it started to trend bearish. When in discreationery trading i will exit my trade, and keep the tiny winny profits. But, the EA doesnt know that, so it waited until the last candle of the day and exit with negative pips.

Can we make the EA close the trade when its on the final hour, instead of waiting blindly for the last candle and close the trade?

I think, force the EA to put SL on breakeven or positive pips, minimum 1pip on the last 2hours of the trade when the trend is against the trade.

Now, i think the Imperial Army is far away... LOL
Change Your Thinking. Change Your Life - JD
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