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Need Help Programming EA

  • #1
  • First Post: May 15, 2007 10:27am May 15, 2007 10:27am
I would like an EA to do the following:

1. If no open orders, open 1 buy EUR/USD and 1 buy USD/CHF at the same time.

2. Orders should be at 40% of account balance (needs to be manually adjustable).

3. EA closes both orders at a gain of 1% of account balance when opened.
No stop losses, no targets, simply closing orders as soon as account balance reaches a gain of 1% since opening.

Can you do this programming? If so, what would be the cost?

Thank you.

Mike
  • #2
  • May 15, 2007 10:50am May 15, 2007 10:50am
If you show me a few trades that you have made that prove this is a good strategy i will write the code...
Keep it simple stoopid....
  • #3
  • May 15, 2007 10:54am May 15, 2007 10:54am
You dont need to show mi any past trades, just pay and u get it from a certified programmer. PM me
100% of traders are losers. Just that some win more than they lose!
  • #4
  • May 15, 2007 11:08am May 15, 2007 11:08am
Quoting Kurka Fund
If you show me a few trades that you have made that prove this is a good strategy i will write the code...
I do not know how to post trades from Oanda, if I did I would. I made 2% in the past 24 hours.

Can you help?
  • #5
  • May 15, 2007 11:22am May 15, 2007 11:22am
Mike,

I can do your EA. But let me understand, let's say you have trades open and it reaches the 1%. You want it to close the existing trades then immediately open two new ones?
  • #6
  • May 15, 2007 11:28am May 15, 2007 11:28am
Quoting Mr demark
You dont need to show mi any past trades, just pay and u get it from a certified programmer. PM me
a certified html programmer? haha
  • #7
  • May 15, 2007 11:32am May 15, 2007 11:32am
Quoting ajone92
Mike,

I can do your EA. But let me understand, let's say you have trades open and it reaches the 1%. You want it to close the existing trades then immediately open two new ones?
Yes, that is exactly right. Are you able to do this?
  • #8
  • May 15, 2007 11:43am May 15, 2007 11:43am
Hi Mr Demark,

how do you mean "certified programmer" ?


Quoting Mr demark
You dont need to show mi any past trades, just pay and u get it from a certified programmer. PM me
  • #9
  • Edited 12:21pm May 16, 2007 8:38am | Edited 12:21pm
Yes I can do it, no charge it will be interesting to test your ideal. I'll try to start it some time today.

I need you to be more specific about number 2. What specifically do you mean, "orders should be 40% of account balance" ? Give me an example.
  • #10
  • May 16, 2007 8:46am May 16, 2007 8:46am
Quoting ajone92
Yes I can do it, no charge it will be interesting to test your ideal. I'll try to start it some time today.
Thank you. Please make sure to have the "40% of account balanceA" and "1% profit" be adjustable by the user.

This system made another 2% profit today.

P.S. How long do you estimate this will take to complete?
  • #11
  • May 16, 2007 9:04am May 16, 2007 9:04am
Okay, I will bite on this one I guess.

I am no super trader or anything but one thing I know is that these two pairs go in the opposite direction about 95% of the time. I have made some nice pips when buying one and selling on the other pair. This being said I must ask how you can trade both pairs in the same direction and make pips?

kevin
  • #12
  • May 16, 2007 9:54am May 16, 2007 9:54am
Quoting kevinsw
Okay, I will bite on this one I guess.

I am no super trader or anything but one thing I know is that these two pairs go in the opposite direction about 95% of the time. I have made some nice pips when buying one and selling on the other pair. This being said I must ask how you can trade both pairs in the same direction and make pips?

kevin
Hi Kevin,

Yes, you can make nice pips buying one and selling the other, IF you can guess the direction of the market. But since these pairs do move in opposing direction approximately 98% of the time, why would you not merely double the lot size of your trade and stick with one pair?

It is because these pairs move in opposing direction most of the time that this way of trading (purchasing both pairs) is a very safe way to trade. It is simply called hedging. The benefit of trading safely this way, that is, of hedging, is that you can use much more of your account balance in these trades. In fact, in the short time I have been doing this, the max drawdown I have had has been 3%.

What we are really doing here is simply trading the daily "fluctuation" in these pairs. When they are fluctuating against us, we don't do anything, we accept the minimal drawdown. When they fluctuate in our favor we simply grab the profit.

As an example, I opened this trade last night before going to bed (Eastern time) and checked it immediately before going to sleep and it had fluctuated against me by about $22.00 (on a $1,000 account). I went to sleep, and slept peacefully knowing I was fully hedged, and when I woke up this morning it had fluctuated in my favor of about $25.00. I closed the trades, took the $25.00 profit which was 2.5% of my account balance, and then reopened the trades again.

My goal is to see if we can make 1% per day. So far I have doubled that. I do believe I am going to open a new thread just for this system, and will post the URL here in the next thread.

Thank you all.

Mike
  • #13
  • May 16, 2007 9:54am May 16, 2007 9:54am
The pairs go in opposite directions 95% of the time (well, I don't know how accurate that is, since I'm sure the percentages are off), but still...since (more than likely), the USD will continue it's weakening against the majors, AND considering that you're technically buying more EUR than you are selling CHF, AND considering that the pairs COULD move in the same direction 5% of the time, the expectation could easily be that you would make money not only from the swap (of which you would be collecting on your USD/CHF long), but from congruent movements between the rates.

Furthermore, leveraging 40% of the account at say 100:1 would require a movement of 0.025% on the leveraged money to make 1% of the account balance.

So, if you have $1000 in your account, and you invest $400 of your margin in
this, you need the $40000 of leverage to reap $10 of gain (1% of $1000).

I guess the weird thing is, why we're cutting profit off at 1% (other than for compounding)...still, I have a feeling it may be "cheaper" (there is a cost associated with opening AND closing positions) to simply add positions since your margin will be determined by the amount of margin you have (not equity). In theory, i suspect you could just monitor margin and ensure that you always have 40% margined by adding the smallest available lots. It's essentially the same thing, and you'd be saving money by not reopening positions.

Quoting kevinsw
Okay, I will bite on this one I guess.

I am no super trader or anything but one thing I know is that these two pairs go in the opposite direction about 95% of the time. I have made some nice pips when buying one and selling on the other pair. This being said I must ask how you can trade both pairs in the same direction and make pips?

kevin
  • #14
  • May 16, 2007 10:03am May 16, 2007 10:03am
Here is the new URL for this system. Let's perfect it:

http://www.forexfactory.com/showthread.php?t=29962
  • #15
  • May 16, 2007 10:08am May 16, 2007 10:08am
Mike,

Perhaps my math is wrong, but I'm trying to get an understanding of why you'd close any of your positions until you needed to withdraw money from the account? If you're always betting in the same direction, you set yourself back by the spread on both pairs. Why wouldn't you just monitor your leverage and add to your positions as your margin grows?

For example, let's say you have 2 trades:
1 EURUSD buy at 1.3503
1 USDCHF buy at 1.2053

Let's say you make 1% at:
EURUSD 1.3513
USDCHF 1.2056

well...if the spread on the EURUSD is 3 and the USDCHF is 4, then if you CLOSE your positions at your profit level and reopen (which I assume you'd do immediately?? since it doesn't specify when), you'd be down again by 3 pips on the EURUSD and 4 on the USDCHF.

Furthermore, I would assume that you need a ratio of 1 to 1 on the pair buys...does that mean up to 40% of your equity is used to buy an exact number of EURUSD and USDCHF lots? So, if you are leveraged at 100:1 on a $1000 mini account, you can only buy 1 lot of the EURUSD and 1 lot of the USDCHF because if you tried to buy 2 of each, you'd actually be leveraging 47% (2 lots of EURUSD @ 1.35 = $270 margin + 2 lots of USDCHF @ 1.2030 = $200 margin). Would this be correct?

Quoting mikejody
I closed the trades, took the $25.00 profit which was 2.5% of my account balance, and then reopened the trades again
  • #16
  • May 16, 2007 10:12am May 16, 2007 10:12am
Excellent question, please post on the new thread and lets discuss.

Quoting mrmikal
Mike,

Perhaps my math is wrong, but I'm trying to get an understanding of why you'd close any of your positions until you needed to withdraw money from the account? If you're always betting in the same direction, you set yourself back by the spread on both pairs. Why wouldn't you just monitor your leverage and add to your positions as your margin grows?

For example, let's say you have 2 trades:
1 EURUSD buy at 1.3503
1 USDCHF buy at 1.2053

Let's say you make 1% at:
EURUSD 1.3513
USDCHF 1.2056

well...if the spread on the EURUSD is 3 and the USDCHF is 4, then if you CLOSE your positions at your profit level and reopen (which I assume you'd do immediately?? since it doesn't specify when), you'd be down again by 3 pips on the EURUSD and 4 on the USDCHF.

Furthermore, I would assume that you need a ratio of 1 to 1 on the pair buys...does that mean up to 40% of your equity is used to buy an exact number of EURUSD and USDCHF lots? So, if you are leveraged at 100:1 on a $1000 mini account, you can only buy 1 lot of the EURUSD and 1 lot of the USDCHF because if you tried to buy 2 of each, you'd actually be leveraging 47% (2 lots of EURUSD @ 1.35 = $270 margin + 2 lots of USDCHF @ 1.2030 = $200 margin). Would this be correct?
  • #17
  • May 16, 2007 11:13am May 16, 2007 11:13am
  •  tesla
  • | Joined Oct 2006 | Status: Friendly Neighborhood Programmer | 533 Posts
Quoting mikejody
I went to sleep, and slept peacefully knowing I was fully hedged, and when I woke up this morning it had fluctuated in my favor of about $25.00. I closed the trades, took the $25.00 profit which was 2.5% of my account balance, and then reopened the trades again.
Mike,

I don't really think you've got a grasp of what you're doing:

  1. If you're buying EUR/USD and USD/CHF at the same time, all you're doing is buying EUR/CHF except you're paying the spread twice.
  2. This position is NOT FULLY HEDGED. Crosspairs do tend to range less, but don't confuse that with a hedged position.
  3. Closing the position and immediately reopening it does absolutely nothing for you except cost you commission.

  • #18
  • May 16, 2007 11:15am May 16, 2007 11:15am
This makes sense, thank you for your comments. I'm not really sure why it works, to tell you the truth, just glad it does . I probably used the wrong word when I said "hedging". Thank you for your help in understanding.

Quoting tesla
Mike,

I don't really think you've got a grasp of what you're doing:

  1. If you're buying EUR/USD and USD/CHF at the same time, all you're doing is buying EUR/CHF except you're paying the spread twice.
  2. This position is NOT FULLY HEDGED. Crosspairs do tend to range less, but don't confuse that with a hedged position.
  3. Closing the position and immediately reopening it does absolutely nothing for you except cost you commission.

  • #19
  • May 16, 2007 12:52pm May 16, 2007 12:52pm
Quoting mikejody
This makes sense, thank you for your comments. I'm not really sure why it works, to tell you the truth, just glad it does . I probably used the wrong word when I said "hedging". Thank you for your help in understanding.
Here you go Mike, I think you are making a mistake. I would not advise trading this way. I modified an EA I had and added some features.

good luck
Attached File(s)
File Type: mq4 EU_UCH_Longs EA v1.mq4   4 KB | 406 downloads
  • #20
  • May 16, 2007 12:58pm May 16, 2007 12:58pm
It works because the conditions are ripe for this system to work, but make no mistake about it, after only a few days, it's hard to determine the long-term viability. Fundamentally, you're still betting for the EUR to be stronger than the USD and the CHF. If the EUR decided to take a 500 pip plunge against the USD while the USD remained flat against the CHF (or worse, the CHF became strong against the USD) it would take you a LONG time to get back to break-even.

Quoting mikejody
This makes sense, thank you for your comments. I'm not really sure why it works, to tell you the truth, just glad it does . I probably used the wrong word when I said "hedging". Thank you for your help in understanding.
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