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Daily95pips

  • #521
  • Oct 5, 2007 4:31pm Oct 5, 2007 4:31pm
Quoting pipimo88
Hi all;
I like the concept (just read the entire thread) and would like to help... and get help ...

1) To all participants in panic about NOT getting same results as mikelath... YOU WILL NOT GET SAME RESULTS... Don't worry so much about that. It's the CONCEPT that is important. I've demo-ed numerous systems on 6 different demo accounts and 2 live accounts at the same time and NOT ONCE have I gotten identical results (unless brokers had identical feeds). Different feeds give different results. But... hopefully... the METHOD will work.

2) MIKELATH... Really appreciate your dedication . I think the attached EA will help you A LOT. You set each order ONCE and it will take profits at specified levels and move your stops along the way. You can set (1) EA to EACH PAIR's chart and let it work. No need to watch it. (NOTE: It will only manage ONE trade PER PAIR at a time. There is a way to attach to multiple trades for the same pair and manage them individually, but it requires a script and a Magic Number. We can get more advanced later... if you wish) - (Open the EA in MetaEditor and you can read the instructions I've written for each setting).

3) I've spent months learning to code EAs so I can back-test, only to realize that MT4 back-testing is... well... worthless (unless doing some crude analysis). So now... I really want to learn more about using Excel to do analysis. I believe it's much more reliable / accurate (I know the program well, but never used it to back-test). So... Can everyone please beg BULLROCK to come back and give a sample of how to use Excel to back-test .

Specific example: How to test - once price reaches previous day high, how often it breaks by 5 pips, by 10 pips, etc... AND - if it hits previous day high, then retraces, before breaking back up - how far, on average, does it retrace, before heading back up.

This has promise... I hope I can help... AND GET RICH
Hey pipimo88.

Just a quick addition...if placing ONE order with 3 profit targets achieves the same result and is easier to program then there may be no need for 3 separate orders. The inclusion of moving stops along the way is also good.

Thanks again. You're contribution is invaluable.

mike
  • #522
  • Oct 5, 2007 5:23pm Oct 5, 2007 5:23pm
Hi all.

See post #499 for updated results of the past week , weekly and individual pairs.

mike
  • #523
  • Oct 5, 2007 5:28pm Oct 5, 2007 5:28pm
Just to be clear... Mike (MIKELATH);

Regarding OCO... There has been talk of straddling the HIGH or LOW... i.e. Break of yesterday's HIGH+5=LONG and bounce off the HIGH of 10%=SHORT. Basically... Creating a tunnel off the HIGH (LOW), which BULLROCK posted and I happen to like

Or... are you talking about if going long on break of HIGH, cancel the "sell" on break of LOW?
  • #524
  • Oct 5, 2007 5:45pm Oct 5, 2007 5:45pm
Quoting pipimo88
Just to be clear... Mike (MIKELATH);

Regarding OCO... There has been talk of straddling the HIGH or LOW... i.e. Break of yesterday's HIGH+5=LONG and bounce off the HIGH of 10%=SHORT. Basically... Creating a tunnel off the HIGH (LOW), which BULLROCK posted and I happen to like

Or... are you talking about if going long on break of HIGH, cancel the "sell" on break of LOW?
Hmmm....yes, I was talking about if going long on break of HIGH, cancel the "sell" on break of LOW. IMHO D95P is profitable enough, so I believe incorporating the 'ranging' strategy of bksujal is not necessary, in fact it may be counter-productive in cancelling out profits already achieved by D95P.
If you're able to create an EA for the D95P criteria I'd be grateful.

Having said that, I believe that if the bksujal's 'ranging' strategy is pursued it would also require multiple profit targets. Based on the ATR idea of determining different SL and TP for each pair according to volatility / range it may be more challenging to devise an EA to suit....though you'd know more about this than I.

Whatever you can do is good.

mike
  • #525
  • Oct 5, 2007 5:48pm Oct 5, 2007 5:48pm
Mike... Just read post #499

May I offer a suggestion before deciding to scrap any pair? (ok... that's a rhetorical question, because after asking, I'm gonna offer the suggestion .

After designing several strategies and fine-tuning to be "profitable" NOW... I back-tested, pip-by-pip for 2005 and 2006 and found that some didn't work at all and others better/worse on certain months.

This is where we need BULLROCK (come baaaaaack, bullrock ) to do analysis of long-term, then forward-test the best outcome and let the system prove itself. We might find that certain pairs stall at certain times, for what ever reason and perform really well at other times.

I'll provide scripts / EAs to make it easier for you/others to keep testing more pairs over longer term. Should have something for you to work with by Sun.

Just my 2... um... pips
  • #526
  • Oct 5, 2007 5:51pm Oct 5, 2007 5:51pm
Quoting pipimo88
Mike... Just read post #499

May I offer a suggestion before deciding to scrap any pair? (ok... that's a rhetorical question, because after asking, I'm gonna offer the suggestion .

After designing several strategies and fine-tuning to be "profitable" NOW... I back-tested, pip-by-pip for 2005 and 2006 and found that some didn't work at all and others better/worse on certain months.

This is where we need BULLROCK (come baaaaaack, bullrock ) to do analysis of long-term, then forward-test the best outcome and let the system prove itself. We might find that certain pairs stall at certain times, for what ever reason and perform really well at other times.


I'll provide scripts / EAs to make it easier for you/others to keep testing more pairs over longer term. Should have something for you to work with by Sun.

Just my 2... um... pips
Ok, I'm always open to suggestions.
  • #527
  • Oct 6, 2007 5:50am Oct 6, 2007 5:50am
Quoting bluewatercat
Mike,

I had a problem using PrtScn in the past. It turned out that it was due to my (wireless Microsoft) keyboard settings. In order to access the PrtScn function, I had to press a key called FLock (may vary depending on brand of keyboard). This turned FLock OFF, and then when I pressed Ctrl-PrtScn the current window was properly copied to the windows clipboard for pasting into other applications such as word and paint. I thought I would offer this in case you were using a similar keyboard that locks the function keys by default to some other meaning like mine was.

Regards,

Greg
I need to correct the information above concerning the behavior of PrtScn:
Ctrl-PrtScn - captures the current screen (the entire desktop)
Alt-PrtScn - captures the current window (the active window)

Sorry for the confusion.

Regards,

Greg
  • #528
  • Oct 6, 2007 2:11pm Oct 6, 2007 2:11pm
Since we are still testing and there might be changes / improvements, I wanted to keep this simple. The more complicated the EA and the more variables it has, the more confusing things get. Once the system is set, it’s easy to automate it. So here’s what I’ve come up with, so far.

NOTE: Here it comes… EAs and Scripts here work on MetaTrader (MT4)… I don’t know about other platforms. Make sure you test it all on demo accounts first. I, anyone I know, anyone I have ever known, anyone I will ever know and anyone that I still don’t know and will get to know and those that they don’t know yet but may know or have ever known…is NOT responsible…blah, blah, blah… Anyway, obviously… Use these at your own risk.

If you want info on “Experts” (EA), how to attach, setup, etc… and “Magic Number” info, please search the web. It’s all out there.

Step 1) Place “Stop Order Magic” into ~/yourBroker/MetaTrader 4/experts/scripts/ - folder
Step 2) Place “Trade Manager EA” into ~/yourBroker/experts/ - folder
Step 3) Open MT4 (close then re-open, if open now) and both files should appear in your “Navigation” window.

NOTE: To read instructions on “Trade Manager EA” settings, right-click it then “modify” – Opens MetaEditor and you’ll see instructions.
  • #529
  • Oct 6, 2007 2:13pm Oct 6, 2007 2:13pm
1)Open 2 chart windows for the same pair.
2)On 1st chart drag “Stop_Order” script and enter inputs for “buystop”
3)Drag “Trade_Manager” to the chart and enter how you want this trade managed and be sure to enter the same Magic No. as assigned in step 2.
4)On 2nd chart drag “Stop_Order” script and enter inputs for “sellstop”
5)Drag “Trade_Manager” to the chart and enter how you want this trade managed and be sure to enter the same Magic No. as assigned in step 4.

NOTE: You can test many different scenarios on the same pair at the same time. Just open another chart window for the pair, use the script to enter the order and assign new Magic No and attach the EA to that chart, using the assigned Magic No.

There is your set-and-forget method. Set the orders and the EA and you’re done for the day. It will take your profits and move the stops along the way.

YOUR COMPUTER MUST BE ON AND TERMINAL OPEN FOR THE EA TO WORK.
-On “Tools > Options > Expert Advisors” tab…
-Make use “Enable Expert advisors” and “Allow Live Trading” is CHECKED and the 2 “Disable experts…” boxes are UN-CHECKED”
-Once attached, make sure you have the smiley face on top-right corner.
  • #530
  • Oct 6, 2007 2:15pm Oct 6, 2007 2:15pm
And... of course... I forgot to attach the files
Attached File(s)
File Type: mq4 Trade_Manager_EA.mq4   9 KB | 827 downloads
File Type: mq4 Stop_Order_Magic.mq4   2 KB | 845 downloads
  • #531
  • Oct 6, 2007 3:37pm Oct 6, 2007 3:37pm
I just want to say Thanks to the Creator Mikelath, pipmo88 and everyone else who is helping keep this thread and system going

I'm going to start demoing this Monday and will follow along with you guys.
  • #532
  • Oct 7, 2007 11:24am Oct 7, 2007 11:24am
Hi to all.
I'am italian.. sorry for my little english, and eventual errors in the language
what of thoughts of these levels?

MAX + 5PIPS = LONG PROFIT 20PIPS , STOP 20PIPS
MAX + 5PIPS = LONG PROFIT 30PIPS , STOP 20PIPS
MAX + 5PIPS = LONG PROFIT 30PIPS , STOP 20PIPS
MAX + 5PIPS = LONG PROFIT 60PIPS , STOP 20PIPS
-------------------------------------------
MIN - 5PIPS = SHORT PROFIT 20PIPS , STOP 20PIPS
MIN - 5PIPS = SHORT PROFIT 30PIPS , STOP 20PIPS
MIN - 5PIPS = SHORT PROFIT 30PIPS , STOP 20PIPS
MIN - 5PIPS = SHORT PROFIT 60PIPS , STOP 20PIPS
  • #533
  • Oct 7, 2007 2:07pm Oct 7, 2007 2:07pm
For those sending PMs with questions regarding the EA and Script... I think it might be more beneficial if you asked them here, in the forum, as it may help those who might have the same questions but are afraid to ask .

No... You do not have to use the "Order_Script" if you aren't placing multiple orders on the same currency. You simply enter your order as usual, (market/stop/limit) then attach the EA and let it take profits and move stops for that trade... However, if you don't use the "Order_Script" and assign a Magic No. and later change your mind, your new order will be taken over by the EA, even if it's on a different chart of that pair. I hope that clears it up.

BTW... When you use the EA... it works off YOUR computer, NOT your broker's server. So your T/P and S/L levels are UNKNOWN to your broker... Just letting you know, in case you have a sneaky suspicion that the broker might be going stop hunting (which, of course, they never do ).
  • #534
  • Oct 7, 2007 8:10pm Oct 7, 2007 8:10pm
Quoting pipimo88
1)Open 2 chart windows for the same pair.
2)On 1st chart drag “Stop_Order” script and enter inputs for “buystop”
3)Drag “Trade_Manager” to the chart and enter how you want this trade managed and be sure to enter the same Magic No. as assigned in step 2.
4)On 2nd chart drag “Stop_Order” script and enter inputs for “sellstop”
5)Drag “Trade_Manager” to the chart and enter how you want this trade managed and be sure to enter the same Magic No. as assigned in step 4.

NOTE: You can test many different scenarios on the same pair at the same time. Just open another chart window for the pair, use the script to enter the order and assign new Magic No and attach the EA to that chart, using the assigned Magic No.

There is your set-and-forget method. Set the orders and the EA and you’re done for the day. It will take your profits and move the stops along the way.

YOUR COMPUTER MUST BE ON AND TERMINAL OPEN FOR THE EA TO WORK.
-On “Tools > Options > Expert Advisors” tab…
-Make use “Enable Expert advisors” and “Allow Live Trading” is CHECKED and the 2 “Disable experts…” boxes are UN-CHECKED”
-Once attached, make sure you have the smiley face on top-right corner.


Hi pipimo88;

Would please explain what the variables mean, and how the stops, and the Target work, if you could use the same variables used in the EA you have attached, please.

Thanks
zee
ZHK
  • #535
  • Oct 7, 2007 8:26pm Oct 7, 2007 8:26pm
To read instructions on “Trade Manager EA” settings/variables, right-click it in your Navigation Window then click “modify” – It will open MetaEditor and you’ll see instructions.
  • #536
  • Oct 8, 2007 12:19am Oct 8, 2007 12:19am
Thanks a lot for your thread Mikelath

I have been reading the whole thread from post#1.

Now started "demo-ing" it to see how it goes.

Why not using the system with pairs that swing a lot? Like the USD/CHF, AUD/JPN, USD/NOK...etc?
  • #537
  • Edited 4:50am Oct 8, 2007 12:53am | Edited 4:50am
Quoting pipimo88
To read instructions on “Trade Manager EA” settings/variables, right-click it in your Navigation Window then click “modify” – It will open MetaEditor and you’ll see instructions.
pipimo88,

Please excuse my ignorance, however the use of EA's is VERY new to me, so in explaining how to use them please assume that I know NOTHING.:surprised
I have started doing online research of my own, however I think your guidance is required with this particular EA. So your patience in this regard will be greatly appreciated by both myself and other newbies to EA's who are following this thread.
My first questions regarding the EA are based on the following quotes:

NOTE: 1ST YOU PLACE YOUR ORDER... THEN YOU SET THIS EA TO MANAGE THAT ORDER... THIS EA WILL ONLY MANAGE (1) PAIR AT A TIME /
Q. This instruction indicates that the EA does not calculate and enter orders for us, rather that we place the orders manually and then the EA manages the trades when they trigger. Correct ?
Q. Even if the EA is attached to multiple charts of various pairs (as is possible on MT4) it can only manage one trade on one pair at a time ?
Q. If we must manually place the orders first, what do you mean by 'set this EA to manage that order' if the EA is already attached to the chart ?

Ok, this is enough for starters. There's bound to be more questions to come. Many thanks for putting it all together for us.

rgs
mike
  • #538
  • Oct 8, 2007 5:44am Oct 8, 2007 5:44am
Here is an excellent link for using MetaTrader: http://www.metatrader.info/node/27
Here is an excellent link on Expert Advisors: http://www.metatrader.info/node/34 (has lessons)

NOTE TO "EXPERTS" READING THIS. I have tried to make this post newbie-friendly and if you can add more newbie-friendliness, please do so

EXPERT ADVISORS 101: If you (1) turn off your computer or (2) lose web connection or (3) have EAs attached to charts in different “profiles” (MetaTrader still has bugs and limitations – it is a free platform), Expert Advisors will NOT work. (Not only the one provided here but NONE of them).

This is why there is a script for manual order entry (and assigning Magic No) – so you are certain your order is set.. At the same time, it allows you the use the EA separately, to manage different systems simultaneously rather than have an EA that works for this system only.

In short, an Expert Advisor “Order” function only recognizes “buy” and “sell” and is set to place an order for THE PAIR, not for the particular TRADE for that pair. In METATRADER, you can place many orders for the same pair, but and EXPERT ADVISOR must be told WHICH trade on WHICH pair in order for it to recognize them as separate orders. Furthermore, METATRADER will allow you to attach the same EXPERT ADVISOR to the same chart only once. Otherwise, the EA would act EVERY TIME it ran into an order line (buy/sell) regardless of how you meant for it to be used.

This is why you assign a Magic No. It is basically a unique trade ID that you assign to a trade just like your broker assigns a ticket number to every trade. But the EA doesn’t recognize the ticket number, because ticket number is located in your broker’s server and the EA resides in your computer.

It tells the EA this: “I have 4 different scenarios going on in GBP/JPY pair. One is buying on break of high, the other is selling on break of low, and I want them all managed in a different way, to see which strategy works better. With assigned Magic No (script), I want you to use an EA for this trade only and ignore all other buy/sell commands you run into along the way on this pair”.

EXAMPLE: Let’s say you want to test GBP/JPY break of previous day high and low and you want to test 2 scenarios (using 1 lot as example) all on the same pair (GBP/JPY):

“script” = “Stop_Order_Magic” (provided earlier)
“EA” = “Trade_Manager_EA” (provided earlier)

You need:
(a)4 chart windows for GBP/JPY – any time frame.
(b)Window 1: Use script to place “buystop” – assigning Magic No 11111 - then attach EA to mange it – using Magic No. 11111 (i.e. close entire position at +30 with stop at -30)
(c)Window 2: Use script to place “sellstop” – assigning Magic No 22222 - then attach EA to mange it – using Magic No. 22222 (i.e. close entire position at +30 with stop at -30)
(d)Window 3: Use script to place “buystop” assigning Magic No 33333 - then attach EA to mange it – using Magic No. 33333 (i.e. close .2 lots at +20, close .2 lots at +40, close .2 lots at +60, close .2 lots at +80, close .2 lots at +100, with initial stop at -30, move stop to break-even at +30, move stop to +20 at +50, etc…)
(e)Window 4: Use script to place “sellstop” assigning Magic No 44444 - then attach EA to mange it – using Magic No. 44444 (i.e. same as in “d”)

(f)Then you may have a MA cross system you’re testing
(g)Then test a box breakout on 0:00 GMT
(h)Then test a box breakout on London Open

… and so on. All tested on SAME pair, but requiring its own window and a separate Magic No. (I have a little code system taped to monitor with Magic No utilizing date and a combo of numbers and then just keep recycling the same numbers the next day – OR – you can just add a LABEL to chart window to see which number you assigned).

You can manage as many different trades as you want on the SAME pair on as many pairs as you like. Without Magic No though, an EA will view EVERYTING in steps (b) – (h) above as ONE order and keep acting EVERY TIME it runs into one of those settings.

CAUTION: If you assign the wrong Magic No. or make a mistake when entering it into the EA, the smiley face on top right WILL still appear and FALSELY make you think your trade is beeing managed. Make sure you enter it correctly.

ONCE THE STRATEGY WE’RE TESTING HERE IS WELL TESTED and the “what-ifs” are reduced… then we can design an EA that will (a) calculate the entry (b) assign Magic No (c) Manage the trade (d) Cancel other open orders (e) Take profits and move stops all by just attaching it once at the start of the day. However.. that requires a lot of time and a LOT of testing and working out the bugs before it can be trusted on its own and I'd rather be trading than troubleshooting EAs. So, let’s fine-tune this strategy first, then work on making the mechanics of the trade easy.

Phiewwww…. I’m wiped, It’s a good thing it’s Columbus day and market is slow.
  • #539
  • Oct 8, 2007 8:31am Oct 8, 2007 8:31am
Quoting pipimo88
I have the historical data in Excel, just don't know where to start. Probably requires "if-then" statements which I need help with.
Where did you get historical data? Is it accurate?
You can analyse it with macros. Or with any other programming language. I would insert it from excel to mysql database and analyse it with php - as I work daily with it.
  • #540
  • Oct 8, 2007 10:04am Oct 8, 2007 10:04am
Here's the link for downloading history data: http://www.alpari-idc.com/en/dc/databank.html

The "1M" data can then be converted to standard periodicity by using the "period converter" script.

On one demo account, though, I got really good conversion, up to 98% accuracy (usually it's around 90% with good data) on EA back-tests and on another, I got 24% accuracy with the same EA and same period converter.

So we need to make sure data is verified before testing with it.
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