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Need Help Programming EA

  • #21
  • May 16, 2007 12:59pm May 16, 2007 12:59pm
Quoting smjones
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
Thank you very much. I personally don't think it is possible to make a mistake trading a demo account. Possibly this will keep us from making a mistake live.

Are there any settings that we should be aware of here?

Thank you again.
  • #22
  • May 16, 2007 1:03pm May 16, 2007 1:03pm
Quoting smjones
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
Where can we change the amount of our account we wish to use? I see it takes 1 lot each trade; I'm wanting to use 40% of my account balance each trade.

Thank you.
  • #23
  • May 16, 2007 1:03pm May 16, 2007 1:03pm
Quoting mikejody
Thank you very much. I personally don't think it is possible to make a mistake trading a demo account. Possibly this will keep us from making a mistake live.

Are there any settings that we should be aware of here?

Thank you again.
Any time frame and the settings are self explanatory. I would attatch it to EU, because it has the highest volume.
  • #24
  • May 16, 2007 1:04pm May 16, 2007 1:04pm
Quoting mrmikal
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.
I'm pretty sure if that if the conditions you describe above exist a lot of people would take a long time to get back to even. If a nuclear bomb goes off we're in deep trouble.
  • #25
  • May 16, 2007 1:31pm May 16, 2007 1:31pm
In addition to the 40% lot size, do we need to attach this to the Eur/Usd and the Usd/Chf or just one chart?

Quoting mikejody
Where can we change the amount of our account we wish to use? I see it takes 1 lot each trade; I'm wanting to use 40% of my account balance each trade.

Thank you.
  • #26
  • May 16, 2007 1:37pm May 16, 2007 1:37pm
I use 40% of my account balance on both trades (for a total of 80% of my account balance).

This statement is not well defined. Please give an example of how you arrive at your lot size and the number of lots. The risk on this type of trade is unknown, because of the nature of the trade.

You attatch the EA to EurUsd only.
  • #27
  • May 16, 2007 1:43pm May 16, 2007 1:43pm
OK, well that is part of the system. I arrive at my lot size by trading 40% of my account balance on the long EUR/USD position, and 40% of my account balance on the long USD/CHF position.

This is easily done on Oanda as I can simply set the preferences to trade that way, but on IBFX I have to have the EA do it.

Can you or someone develop an EA that would accomplish this?

Thank you.

Quoting smjones
I use 40% of my account balance on both trades (for a total of 80% of my account balance).

This statement is not well defined. Please give an example of how you arrive at your lot size and the number of lots. The risk on this type of trade is unknown, because of the nature of the trade.

You attatch the EA to EurUsd only.
  • #28
  • May 16, 2007 1:46pm May 16, 2007 1:46pm
Is it something like this?

Percent_Acct_Used = AccountBalance() * UserDefinedPercent
LotsSize = Percent_Acct_Used / 100
  • #29
  • May 16, 2007 1:47pm May 16, 2007 1:47pm
Quoting smjones
Is it something like this?

Percent_Acct_Used = AccountBalance() * UserDefinedPercent
LotsSize = Percent_Acct_Used / 100
I'm sorry, I just don't know code at all. Does anyone else?
  • #30
  • May 16, 2007 1:48pm May 16, 2007 1:48pm
Quoting mikejody
OK, well that is part of the system. I arrive at my lot size by trading 40% of my account balance on the long EUR/USD position, and 40% of my account balance on the long USD/CHF position.

This is easily done on Oanda as I can simply set the preferences to trade that way, but on IBFX I have to have the EA do it.

Can you or someone develop an EA that would accomplish this?

Thank you.
Well, unless this is better defined, I am not interested in doing any more. I posted the code, If someone else wants to feel free to.
  • #31
  • May 16, 2007 8:33pm May 16, 2007 8:33pm
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.

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.
ajone92, how is it coming along? I'm wondering if you could maybe change to having theorder open with a certain percentage of available margin, rather than a certain percentage of account balance. Is this possible?

Thank you again for working on this.

Mike
  • #32
  • May 16, 2007 9:45pm May 16, 2007 9:45pm
its scary that this is working for you... be prepared
Keep it simple stoopid....
  • #33
  • May 16, 2007 9:48pm May 16, 2007 9:48pm
Quoting Kurka Fund
its scary that this is working for you... be prepared
Yes, I do know that this could blow up my entire $1,000 demo account.

By the way, have you seen any historical correlation between these two pairs? If you looked at them, I think it would remove a whole lot of the fear that seems to be present.
  • #34
  • May 16, 2007 9:59pm May 16, 2007 9:59pm
there is a correlation indicator floating around somewhere. it allows you to see the correlation of the chart and 1 other pair over n periods. Cant find it though, the code wouyld help you with your EA. only trade when the daily correlation is really high. but the higher the correlation the less your system will trade. because you are counting on the correlation to be broken to get your profit.

I agree with the other posters that you should never close the positions if you are planning on trading like this.

The only real hedging that ever made sense to me was hedging 1 security vs a control group. Example GE vs a spider. to do this in FX you would need to hedge the pair against an Index or a mix of the majors. example

buy 20 Lots EUR/USD

Sell 10 USD/JPY
Sell 5 USD/GBP
sell 3 USD/AUD
Sell 2 USD/CAD

thats just an example without doing the proper calculations.

You also have to consider "SPREAD" which is a huge factor.

just my 2 pips.
Keep it simple stoopid....
  • #35
  • May 17, 2007 11:22am May 17, 2007 11:22am
Made another 1% today; so far my account balance is up 6% for the week so far. We'll see how it goes.
  • #36
  • May 17, 2007 12:02pm May 17, 2007 12:02pm
Quoting mikejody
Made another 1% today; so far my account balance is up 6% for the week so far. We'll see how it goes.
Mike, If you made 1% of your balance, what was the actual lots size traded and your margin dollar amount and your balance? If I knew this, I think I could give you what you want for the EA.

Also, was this lot size 40% of your margin on each side of the trade?
  • #37
  • Edited 1:50pm May 17, 2007 1:25pm | Edited 1:50pm
Quoting mikejody
ajone92, how is it coming along? I'm wondering if you could maybe change to having theorder open with a certain percentage of available margin, rather than a certain percentage of account balance. Is this possible?

Thank you again for working on this.

Mike
Is this what you meant?
Good luck, I still think this is a mistake. But I wish you well.

Note:
Open both a EURUSD and a USDCHF chart. Place the EA on the EURUSD chart. (Timeframe is not important)

Also, if you wish, here is an indicator for correlation just set it for these 2 pairs... This indicator is completely optional. This indicator is someone else's and works very well.
Attached File(s)
File Type: mq4 EU_UCH_Longs EA v2.mq4   4 KB | 297 downloads
File Type: mq4 correlation_v1.mq4   3 KB | 322 downloads
  • #38
  • May 17, 2007 1:26pm May 17, 2007 1:26pm
  •  tesla
  • | Joined Oct 2006 | Status: Friendly Neighborhood Programmer | 533 Posts
Mike,

Take a look at the EUR/CHF chart, since that's really what you're trading. What you're doing (or nearly doing if you were sizing each position correctly) is just going long EUR/CHF.

http://img444.imageshack.us/img444/9463/sssb3.gif

You're seeing profit because a long EUR/CHF position would see profit. You'll see loss if a long EUR/CHF position would see loss.

I'm not trying to be mean, I'm just trying to prod you into understanding where your profit is coming from and where your risk is since I'm pretty sure you're not getting it.
  • #39
  • May 17, 2007 1:53pm May 17, 2007 1:53pm
I agree, you are trading an amplified version of the EUR/CHF.

Quoting tesla
Mike,

Take a look at the EUR/CHF chart, since that's really what you're trading. What you're doing (or nearly doing if you were sizing each position correctly) is just going long EUR/CHF.

http://img444.imageshack.us/img444/9463/sssb3.gif

You're seeing profit because a long EUR/CHF position would see profit. You'll see loss if a long EUR/CHF position would see loss.

I'm not trying to be mean, I'm just trying to prod you into understanding where your profit is coming from and where your risk is since I'm pretty sure you're not getting it.
  • #40
  • May 17, 2007 5:23pm May 17, 2007 5:23pm
And I do appreciate it; I just need to understand what affect the USD plays in this. If I just went long EUR/CHF, what would happen if USD tanked? EUR would go up and CHF would go up, right? So which way would EUR/CHF go?

That is what nobody has answered so far. What role does USD play in this?

Quoting tesla
Mike,

Take a look at the EUR/CHF chart, since that's really what you're trading. What you're doing (or nearly doing if you were sizing each position correctly) is just going long EUR/CHF.

http://img444.imageshack.us/img444/9463/sssb3.gif

You're seeing profit because a long EUR/CHF position would see profit. You'll see loss if a long EUR/CHF position would see loss.

I'm not trying to be mean, I'm just trying to prod you into understanding where your profit is coming from and where your risk is since I'm pretty sure you're not getting it.
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