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Safe Hedging System - Daily Swap

  • #321
  • Jun 14, 2007 2:36pm Jun 14, 2007 2:36pm
Quoting Smart2bforex
I really like this hedging system and I would like to start my demo using it. Being very new to the FOREX market I find it is pretty easy to understand and follow but I still have a question regarding stop loss.... "once you are in profit with your GBP/JPY pair for about 100 PIPS, put your stop/loss at 1 pip profit, only use stop with GBP/JPY pair...."
Lets use the example: I bought 1 lot of GBP/JPY for 241.22. In a time price went up to 242.23, so now should I enter a stop loss for 242.24 or 242.22? Can't I just enter Take profit at the time when I'm buying my pair (using above example : set Take profit for 242.23 ) or I'm missing the point. Please help me understand.
Thanks in advance
Smart2bforex,

Based on your entry of 241.22 once price moves up to 242.22 (1.00 or 100 pips) set stop loss to 241.23. This will allow room for a retracement and gives you +1 pips for GBPJPY. Once GBPJPY closes out due to price retracing back to 241.23 close all positions and start over again.

TimeFreedom
  • #322
  • Jun 14, 2007 2:38pm Jun 14, 2007 2:38pm
my take on this is to look more at overall profit and decide a level to close all trades if in profit. the system will have times +/-30% and I think it's key to cash in at 10%+, then either withdraw the cash or re-invest with compounding lot sizes. The trade-off is repeated exposure to opening spreads.

Quoting Smart2bforex
I really like this hedging system and I would like to start my demo using it. Being very new to the FOREX market I find it is pretty easy to understand and follow but I still have a question regarding stop loss.... "once you are in profit with your GBP/JPY pair for about 100 PIPS, put your stop/loss at 1 pip profit, only use stop with GBP/JPY pair...."
Lets use the example: I bought 1 lot of GBP/JPY for 241.22. In a time price went up to 242.23, so now should I enter a stop loss for 242.24 or 242.22? Can't I just enter Take profit at the time when I'm buying my pair (using above example : set Take profit for 242.23 ) or I'm missing the point. Please help me understand.
Thanks in advance
TRADE FOR SWAP
  • #323
  • Jun 14, 2007 4:10pm Jun 14, 2007 4:10pm
Earlier in the week, I started a new $50K demo account when I came accross this system. The account is now at $58K ... its just unbelievable.

There has to be a short coming of this system. What is it's biggest weakness and the probability of that happening.
Any idiot can take profit, real traders know how to take losses!
  • #324
  • Jun 14, 2007 7:13pm Jun 14, 2007 7:13pm
Quoting bmchunu
Earlier in the week, I started a new $50K demo account when I came accross this system. The account is now at $58K ... its just unbelievable.

There has to be a short coming of this system. What is it's biggest weakness and the probability of that happening.
When gbpjpy corrects from the uptrend It just won´t go up forever.
"Hoe ur pips mate?" fxcarllos
  • #325
  • Jun 14, 2007 7:14pm Jun 14, 2007 7:14pm
here it is.. see if you like it.
Attached File(s)
File Type: mq4 linreg change.mq4   2 KB | 500 downloads
"Hoe ur pips mate?" fxcarllos
  • #326
  • Jun 14, 2007 7:15pm Jun 14, 2007 7:15pm
Quoting dashisiong
Thanks Carllos, your work is fast and i love your EA very much!!!
Thanks man
"Hoe ur pips mate?" fxcarllos
  • #327
  • Jun 14, 2007 7:18pm Jun 14, 2007 7:18pm
Quoting Smart2bforex
I really like this hedging system and I would like to start my demo using it. Being very new to the FOREX market I find it is pretty easy to understand and follow but I still have a question regarding stop loss.... "once you are in profit with your GBP/JPY pair for about 100 PIPS, put your stop/loss at 1 pip profit, only use stop with GBP/JPY pair...."
Lets use the example: I bought 1 lot of GBP/JPY for 241.22. In a time price went up to 242.23, so now should I enter a stop loss for 242.24 or 242.22? Can't I just enter Take profit at the time when I'm buying my pair (using above example : set Take profit for 242.23 ) or I'm missing the point. Please help me understand.
Thanks in advance
EA will take care of it for you. Just place it on the pairs you want, define them on properties and let ir run
"Hoe ur pips mate?" fxcarllos
  • #328
  • Jun 15, 2007 12:18am Jun 15, 2007 12:18am
Quoting cgldsmth


quote=Carllos;1466909]Anyone here chasing bugs???

http://en.wikipedia.org/wiki/Bugchasing
[/quote]

Strange, strange world we livin in, Master Jack......

Remember the song?

(Can't believe that someone would want to be infected with such a bug).
  • #329
  • Edited 1:05am Jun 15, 2007 12:26am | Edited 1:05am
Hi Carllos,

Small rectifications that could be done to EA 5.1.2[1]:

1. Although the Account Management is set to false, the following print appear on the graph page:
Initial money $1000
Account TP 20%
Account SL 50%

2. In the line below "ROUND NUMBER 1" there is some unreadable overprinting. This is pertaining to the USDCHF and CHF JPY charts only.

Thank you for all your efforts. Keep up the good work.
  • #330
  • Jun 15, 2007 12:47am Jun 15, 2007 12:47am
Quoting Carllos
here it is.. see if you like it.
What is this for?
  • #331
  • Jun 15, 2007 8:01am Jun 15, 2007 8:01am
Thank you guys for answering my Stop Loss question. Even when EA is running the show I like to know how it works My next question.... I would like to start the real account soon. This system makes all the sense to me and looks profitable. My question is: how long should I demo testing ? When it is time to "go real"? I don't want to rush into it but just watching play money to grow makes me anxious.
How many of you already started the real account?
  • #332
  • Jun 15, 2007 9:02am Jun 15, 2007 9:02am
I wouldn't go live yet as the EA still has some bugs. For example, v5.1 opened and closed orders several times today losing quite a lot in spread money.

Quoting Smart2bforex
Thank you guys for answering my Stop Loss question. Even when EA is running the show I like to know how it works My next question.... I would like to start the real account soon. This system makes all the sense to me and looks profitable. My question is: how long should I demo testing ? When it is time to "go real"? I don't want to rush into it but just watching play money to grow makes me anxious.
How many of you already started the real account?
TRADE FOR SWAP
  • #333
  • Jun 15, 2007 10:49am Jun 15, 2007 10:49am
Quoting trader8686
What is this for?
Tikin asked me to change it
"Hoe ur pips mate?" fxcarllos
  • #334
  • Jun 15, 2007 10:51am Jun 15, 2007 10:51am
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy 1506.jpg Size: 81 KB
"Hoe ur pips mate?" fxcarllos
  • #335
  • Jun 15, 2007 10:54am Jun 15, 2007 10:54am
Quoting Smart2bforex
Thank you guys for answering my Stop Loss question. Even when EA is running the show I like to know how it works My next question.... I would like to start the real account soon. This system makes all the sense to me and looks profitable. My question is: how long should I demo testing ? When it is time to "go real"? I don't want to rush into it but just watching play money to grow makes me anxious.
How many of you already started the real account?
My advise is to test EA before going live. Get used to it.. test all options available on a demo account, untill u feel confortable using it.
Anyway, you can do it manually. Strategy is quiet simple to follow.

"Hoe ur pips mate?" fxcarllos
  • #336
  • Jun 15, 2007 11:05am Jun 15, 2007 11:05am
seems the 5.1 versions are not quite stable yet, opening and closing lots of orders instantaneously. v4 working well, but just need it on a mini.

Quoting Carllos
My advise is to test EA before going live. Get used to it.. test all options available on a demo account, untill u feel confortable using it.
Anyway, you can do it manually. Strategy is quiet simple to follow.

TRADE FOR SWAP
  • #337
  • Jun 15, 2007 11:07am Jun 15, 2007 11:07am
Quoting cgldsmth
seems the 5.1 versions are not quite stable yet, opening and closing lots of orders instantaneously. v4 working well, but just need it on a mini.
U still have the problem in version 5.1.2 ??
Wow... That is really weird....

Please post your settings

I´ll do a version 4, just for mini ibfx and will get back to version 5.1

"Where is that BUG now?" http://repguine.com.sapo.pt/bazucaRG.jpg
"Hoe ur pips mate?" fxcarllos
  • #338
  • Jun 15, 2007 11:12am Jun 15, 2007 11:12am
here's my settings:

extern bool CLOSEALL = false;
extern string NumberRounds="~Number of additional Rounds: Máx 10 (initial is Round 0)~";
extern int NumRounds=10;
extern string Lot0="~Number lots on Round 0~";
extern double lotsini=0.2;
extern string Lot10="~Number lots on Rounds 1-10~";
extern double lots=0.02;
//At beggining of each Set of Rounds define InitialMoney, AccountTakeProfitPercentage
// and AccountStopLossPercentage. Place 0 (zero) if it´s not to be considered.
extern string AccManagement="~InitialMoney,TP%,SL% Note:true to use";
extern bool AccountManagement=false;
extern double InitialMoney=1000;
extern double AccTPpercent=20; // percentage of profit
extern double AccSLpercent=50; // percentage of loss
extern string BegginDate="~Date to beggin Trading~";
extern int YYYY=2007;
extern int MM=06;
extern int DD=15;
extern string Time2Go="~Time to place orders for new Round~";
extern int HOUR=16;
extern int MINUTEini=02;
extern int MINUTEend=59;
extern string PairLeader="~Choose Leading Pair~";
extern string Pair1="GBPJPY";
extern bool Pair1isLong=true;
extern string Pairs2Trade="~Choose other Pairs u want to Trade (2-10)~";
extern string Pair2="CHFJPY";
extern bool Pair2isLong=false;
extern string Pair3="GBPUSD";
extern bool Pair3isLong=false;
extern string Pair4="USDCHF";
extern bool Pair4isLong=false;
extern string Pair5="";
extern bool Pair5isLong=false;
extern string Pair6="";
extern bool Pair6isLong=false;
extern string Pair7="";
extern bool Pair7isLong=false;
extern string Pair8="";
extern bool Pair8isLong=false;
extern string Pair9="";
extern bool Pair9isLong=false;
extern string Pair10="";
extern bool Pair10isLong=false;
extern string StopRound="~Stop=1pip after 100 pips profit~";
extern bool RoundStopMode = true;
extern int Pair1_pips_Profit = 100;
extern int Pair1_pips_Stop = 1;
extern string TurnCommentsOnOff="~TurnComments On(true) Off(false)~";
extern bool Comments = true;

Quoting Carllos
U still have the problem in version 5.1.2 ??
Wow... That is really weird....

Please post your settings
TRADE FOR SWAP
  • #339
  • Jun 16, 2007 12:29pm Jun 16, 2007 12:29pm
Thanks Neo for a great system to trade the upward trend of the GBPJYP. It isn't a perfect hedge but is safer than using correlations to make a hedge.THE LOGIC AND THE SIMPLICITY is a breathe of fresh air.I've being trading it since the 25th April. Pure profit! Some of the members have been talking about doing different pairs and only doing two other currency against the GPBJYP.THERE WAS A GUY ON ANOTHER Thread WHO TRIED IT IN 2006 AND WAS WIPED OUT. In the fall in February / March the GBPJYP fell 1300 pips and that is why you need three sells against it.The longer it goes up the bigger a retracement could be.On JUNE 8 IT RETRACED 400 PIPS MY ACCOUNT WAS ONLY DOWN $400-$600.For those who are looking at the Freedom Rocks correlations STYLE HEDGE they work but as Neo explained when the market gets a problem say goodbye to all profit and capital The reason being at times of economic crisis pe ople don't buy currency they sell and buy gold. If your got three buys two will go down around 400 pips as in Late February 2007 Late February 2006 AND June/July 2006 and the one that is suppose to hedge hardly moves.Freedom Rocks blamed customer for being greedy and using too much margin on their accounts probably partly true but you need to have sell positions. The entering one tenth of your position is fantastic advice and was used by the guy who broke the Bank of England. Another thing I have found interesting is many people tried to tell you that mathematical explanation for the currencies you hold It really a Long JPY US AND A SHORT EURO CHF OR SOMETHING LIKE THIS .Mathematically technical true but these pairs don't have the SAME INTEREST RATES AND IT IS the interest rate attached to the GBPJYP 26% THAT CAUSES THE VOLITILITY IN THE CURRENCY.WHAT MAKES THE MARKET MOVE IS SUPPLY AND Demand mathematics is how we represent the movement.The rapid MOVEMENTof the GBPJYP UPWARD IS WHAT IS GIVES SUCH QUICK PROFITS. Thanks Neo for a great system.

ALL WINNERS PLAN FOR THE WORST CASE
SCENARIOS! DON'TTHEY GEORGE!
  • #340
  • Jun 17, 2007 12:00am Jun 17, 2007 12:00am
Hey Carloss, first great EA. Im trying to back test v5.1, but having a couple of problems... I set the date to begin back a year and when i run it it only runs for one or 2 days from whatever day I try to start it from... Im trying it on the FXDD demo. money management set to false.... anyone else having this problem or jsut me???
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