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Daily95pips

Wow...I think I am late to this party, but one can still participate and have fun in it, right?

I'll try this method first thing in the morning tomorrow!

PS: GMT+7 here
I just came across this thread and I was amazed to see that the system espoused is VERY similar to one I use.

I trade 4 pairs: GBP/USD, USD/CAD, EUR/AUD, GBP/JPY. I chose these pairs because for the most part they are non-correlated.

I enter 2 trades on each pair:
- Long on daily high + 5 pips (10 pips for GBP/JPY)
- Short on daily high - 5 pips (10 pips for GBP/JPY)

I have a SL of the 33% of the 22-day ATR
and a TP of 66% of the 22-day ATR.

For GBP/USD that means that I have a SL of about 50 pips and a TP of about 100 pips. And for GBP/JPY I have a SL of about 90 pips and a TP of about 180 pips.

When the market is trending I make out like a bandit, however when the market is ranging (like is was for the 1st 2 weeks of October) I get killed.

I'm currently working on trying to incorporate daily ADX to determine when the market is trending or ranging. I'm thinking that I'll only enter trades when ADX is above 25 and sloping up. I'll stay out if ADX is sloping down. I haven't tried this yet, but I'll start next week. Hopefully it will help me stay out of the market when I know my strategy doesn't work.

I'm also trying to come up with a way where I can take partial profits (like the OP does) along the way; but I want to keep my 2:1 win:loss ratio and I don't want to have my SL too close. I like to give the market a little "breathing room".

Anyway, I couldn't help putting in my $0.02 because my strategy is so close to the OPs.
Hi mike...
What EJ EU and uj the best for trade this strategy?

Good luck


Esn
Can anyone help me to understand...

First of all - I am excited about the potential with this method and would love to try this live (using tiny tiny lots to start of course...) Because of my work schedule, I cannot always be at my trading computer to start the trades. The EA is perfect for me.

That being said, I am running the EA on an Interbank platform and am not sure how the EA is determining the entry points for the orders.

For example: Friday's USDJPY - Sell stop was placed at 115.53 My platform shows an end of day close at 115.54 with a daily low of 115.27 reached in the last 4 hours of the trading day.

My thinking the Sell stop should have been placed at 115.22.

Insights please!!!!

Thanks Tim
Quoting tsquad
Can anyone help me to understand...

First of all - I am excited about the potential with this method and would love to try this live (using tiny tiny lots to start of course...) Because of my work schedule, I cannot always be at my trading computer to start the trades. The EA is perfect for me.

That being said, I am running the EA on an Interbank platform and am not sure how the EA is determining the entry points for the orders.

For example: Friday's USDJPY - Sell stop was placed at 115.53 My platform shows an end of day close at 115.54 with a daily low of 115.27 reached in the last 4 hours of the trading day.

My thinking the Sell stop should have been placed at 115.22.

Insights please!!!!

Thanks Tim
the same question as mine:
Quote
i have question bout variables on the ea,
- LookBackHours and OrderExpirationHours --> why default setting is 17 & 18? CMIIW, the ea is looking for 17 hours back and 18 hours forward with 5pm EST as center..

i thought, it cause the lookbackhours was set to 17, so the ea is not looking for last day low, instead of last 17 hours low..
Hello, everybody, this is my first post here, and i DID read all the posts b4 writing.
I have been testing this ea Daily95pips.0.3.ex4 for the past few days and what i see is, it opens up pending orders and then if one currency is hit, then it deletes all the rest of them, something tells me that it needs to be adjusted, so in case the rest of the pairs reach there level and not just one.
and another thing is... it opens up only 3 currencies? Any ideas why?
Thanks
Quoting Ronyn76
For those of you running the EA with Interbank FX, could you explain what values you set for these:

Daystarthoru
Lookbackhours
Order Expiration Hours

Im a bit confused about the difffent time zone etc and what to set in the EA.


Thanks
Daystarthour - hour in your timezone/used by your broker when the forex day starts = when you want your stop orders placed.
Lookbackhours - how many hours to look back when calculating day high / low
OrderExpirationHours - after how many hours do stop orders expire.

Pr1mer
Quoting dinka
Hello, everybody, this is my first post here, and i DID read all the posts b4 writing.
I have been testing this ea Daily95pips.0.3.ex4 for the past few days and what i see is, it opens up pending orders and then if one currency is hit, then it deletes all the rest of them, something tells me that it needs to be adjusted, so in case the rest of the pairs reach there level and not just one.
Thanks
Di
Thanks for your observations. Maybe that is the reason of the weird EA behaviour for multiple pairs. I'll dig into it.

Pr1mer
Quoting herry_winandi
i have question bout variables on the ea,
- LookBackHours and OrderExpirationHours --> why default setting is 17 & 18? CMIIW, the ea is looking for 17 hours back and 18 hours forward with 5pm EST as center..
These are suggested settings by Mike for this system.
Feel free to play with them and post your results.

Pr1mer
Wow! Amazing day. Wating for your results Mike
That may be a good exaple what trailing stop in the last order might bring. Any ideas?

Pr1mer
Question about the EA (daily95pips.0.3), I just started using it last night on the USDCHF.

It set the buy stop at 1.1742, it got trigged and hit my first TP. But I see that all 3 stop losses are set to 1.1742 as well, and the last two trades hit this and stopped. Price came no where near 1.1712 (what the stop should have been)

I'm confused as to why the stop loss is/was set the same as the buy stop price instead of 30 pips below. The pending sell stop orders have the correct 30 pip stop loss as well as both sets of orders on a different currency pair.

It seems like it moved all the active trade stop losses to break even after it hit the 1st t/p but I didn't check the stops before I left for the night so I'm not exactly sure. Any ideas?
Tried it yesterday, and it worked like a charm.
But Monday session was like 400 pips wide, can we really expect it to move near the 5 a.m GMT level in 24 hrs?
Greetings Pr1mer sir.

Yes, it was a good day. All 3 pairs achieved +95pips. Some other pairs like GBPUSD also got +95pips.

The idea of adding a trailing stop to the last order is good.
If it's not too much trouble for you to add it to the EA that would be great.
Maybe a 20pip trailing stop activated when the 2nd PT is reached would be sufficient. What do you think ?

mike




Quoting Pr1mer
Wow! Amazing day. Wating for your results Mike
That may be a good exaple what trailing stop in the last order might bring. Any ideas?

Pr1mer
Daily95pips:

Date: Monday 22 October 2007
EURJPY +95
USDJPY +95
EURUSD +95

Total: +285pips

Comment: Regarding the EA, there is now discussion on adding a trailing stop to the last order after the 2nd profit target has been reached in order to capitalise on strong trends.
Anyone?

All the stop losses are correct until something happens which I can't figure out. GBPCHF recently hit 2.3957 which triggered the buy stop, now all 3 trades have been stopped out at 2.3957. But the stop losses should have been 2.3927.... ???

I think when it triggers the order, it automatically sets the stop loss to the current price. What is going on? This also just happened on NZDUSD
Quoting dinka
Hello, everybody, this is my first post here, and i DID read all the posts b4 writing.
I have been testing this ea Daily95pips.0.3.ex4 for the past few days and what i see is, it opens up pending orders and then if one currency is hit, then it deletes all the rest of them, something tells me that it needs to be adjusted, so in case the rest of the pairs reach there level and not just one.
and another thing is... it opens up only 3 currencies? Any ideas why?
Thanks
I just tested this ea for 3 days. And I have this question that some orders are pending while some are not. I use it in EUR, JPY, GPB, EUR/JPY

First day, I use one name "daily95pips.03" as the ea name on 4 pairs, only EUR (the first chart) have pendings.

Second day, I changed the ea names into 4name "95pips-eur" "95pips-jpy"...etc, result is the same, only EUR have pendings.

Third day, I edited two of the ea "95pips-eurjpy" and "95pips-gbp", result is, EUR, EUR/JPY, GBP placed pendinds.

Conclusion, I think in mulitple pairs, we should give them different names, since ea give magic numbers according the the name of ea.

To PR1mer: Can you help me to check it. Is this a bug or only I have this problem? Thanks very much.
Attached Image
This should be the function to protect our money.
When price up to certain point, stop loss will edit to break even, so that we can sit back and relax to have 100% positive results. We can still have 15pts (the first TP in this ea) even the last 2 orders go to SL

Quoting armrd08
Question about the EA (daily95pips.0.3), I just started using it last night on the USDCHF.

It set the buy stop at 1.1742, it got trigged and hit my first TP. But I see that all 3 stop losses are set to 1.1742 as well, and the last two trades hit this and stopped. Price came no where near 1.1712 (what the stop should have been)

I'm confused as to why the stop loss is/was set the same as the buy stop price instead of 30 pips below. The pending sell stop orders have the correct 30 pip stop loss as well as both sets of orders on a different currency pair.

It seems like it moved all the active trade stop losses to break even after it hit the 1st t/p but I didn't check the stops before I left for the night so I'm not exactly sure. Any ideas?
Quoting cashfinder
This should be the function to protect our money.
When price up to certain point, stop loss will edit to break even, so that we can sit back and relax to have 100% positive results. We can still have 15pts (the first TP in this ea) even the last 2 orders go to SL
Something like this would be nice... but there is zero room for movement when it's doing what it's doing now. I haven't been able to watch it happen real-time, but I'm thinking the stop loss gets moved to break even the moment the buy/sell stops are triggered.
Attached Image (click to enlarge)
Click to Enlarge Name: ea-stops.jpg Size: 69 KB
Quoting armrd08
Something like this would be nice... but there is zero room for movement when it's doing what it's doing now. I haven't been able to watch it happen real-time, but I'm thinking the stop loss gets moved to break even the moment the buy/sell stops are triggered.
I have see that in other ea, it has the function for us to choose whether we can choose move the SL to BE or not. Maybe we can suggest Pr1mer to help us later.
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