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Daily Scalping EA - Discussion Thread

  • #301
  • May 30, 2007 8:17am May 30, 2007 8:17am
hi @ all

please let me do my first post on FF
i'm normally a read-only-member but my fingers say POST NOW

i have made another EA wich seems to perform much better than the latest

maybe its because i'm to stupid to finetune the other (if it so please let me know) :surprised


so here it is
the code is very messy and has no special functions like GMT-shift, moneymanagement, sundaycandle...... and so on
but it works

i use it with IBFX wich is GMT

the EA only opens 2 pos. at 00:01 with SL 40 , get the first pos. TP at 25pips and set the second to break even
if there is no TP - it closed all opened pos. at 23:55

i know there is much to improve but this is just a "2h of work" code

if you would test it - leave the settings by default and use it with 1h timeframe on G/J

i think the first thing to improve is to open two new pos. after SL
then it would be much more profitable

.......

i have no more time now - questions, suggestions are welcome


have a nice day

spence



ps: the strategytester.txt need to be changed into .htm
Attached Image (click to enlarge)
Click to Enlarge Name: StrategyTester.jpg Size: 23 KB
Attached File(s)
File Type: mq4 Daily_pips.mq4   12 KB | 932 downloads
File Type: txt StrategyTester.txt   136 KB | 905 downloads
  • #302
  • May 30, 2007 8:38am May 30, 2007 8:38am
Quoting spence
hi @ all

please let me do my first post on FF
i'm normally a read-only-member but my fingers say POST NOW

i have made another EA wich seems to perform much better than the latest

maybe its because i'm to stupid to finetune the other (if it so please let me know) :surprised


so here it is
the code is very messy and has no special functions like GMT-shift, moneymanagement, sundaycandle...... and so on
but it works

i use it with IBFX wich is GMT

the EA only opens 2 pos. at 00:01 with SL 40 , get the first pos. TP at 25pips and set the second to break even
if there is no TP - it closed all opened pos. at 23:55

i know there is much to improve but this is just a "2h of work" code

if you would test it - leave the settings by default and use it with 1h timeframe on G/J

i think the first thing to improve is to open two new pos. after SL
then it would be much more profitable

.......

i have no more time now - questions, suggestions are welcome


have a nice day

spence



ps: the strategytester.txt need to be changed into .htm
Welcome Spence and thank you for posting your work
But I'd like to point that this is a thread dedicated to develop EA for Daily Scalping method not to find any EA for any method that could be profitable (you will find plenty of EA in the metatrader section or over internet). Said that, maybe your EA could be a good starting point from which it could be developed a better profitable EA than actual Daily Scalping EA but, I'm sorry , this is beyond the purpouse of this thread

Regards,
Skyline
  • #303
  • May 30, 2007 12:14pm May 30, 2007 12:14pm
Quoting skyline
Welcome Spence and thank you for posting your work
But I'd like to point that this is a thread dedicated to develop EA for Daily Scalping method not to find any EA for any method that could be profitable (you will find plenty of EA in the metatrader section or over internet). Said that, maybe your EA could be a good starting point from which it could be developed a better profitable EA than actual Daily Scalping EA but, I'm sorry , this is beyond the purpouse of this thread

Regards,
Skyline

sorry but i think this : http://www.forexfactory.com/showpost...52&postcount=1

is the daily scalping method

and my EA does or should follow the rules of this method (the development is not finished)

or do you mean this thread is only for the EA of the first post?

if i'm wrong please be gentle and i would open my own thread

spence
  • #304
  • May 30, 2007 4:16pm May 30, 2007 4:16pm
Quoting spence
sorry but i think this : http://www.forexfactory.com/showpost...52&postcount=1

is the daily scalping method

and my EA does or should follow the rules of this method (the development is not finished)

or do you mean this thread is only for the EA of the first post?

if i'm wrong please be gentle and i would open my own thread

spence
Oh ok if you will plan to follow all the Tkimble rules then you are more than welcome to continue to develop and discuss your EA here

Cya,
Skyline
  • #305
  • Jun 3, 2007 7:23pm Jun 3, 2007 7:23pm
hi spence,

IBFX is GMT time ??? I thought Interbank FX sits in Denver and are -7 hour back to GMT http://www.forexfactory.com/images/icons/icon5.gif Thats the GMT shift I have put in !!
Can anyone comment on that ??
Cheers
Thomas
  • #306
  • Jun 3, 2007 7:31pm Jun 3, 2007 7:31pm
Quoting toxinfre
hi spence,

IBFX is GMT time ??? I thought Interbank FX sits in Denver and are -7 hour back to GMT http://www.forexfactory.com/images/icons/icon5.gif Thats the GMT shift I have put in !!
Can anyone comment on that ??
Cheers
Thomas
IBFX uses GMT on their charts.

Where they are located doesn't have anything to do with it.
  • #307
  • Jun 4, 2007 5:25pm Jun 4, 2007 5:25pm
Result Update - Demo Test (Data Feed by Fastbrokers)

[Apr 2007]
Opened Trades = 32
Tot. Pips Gained = +36

[Mag 2007]
Opened Trades = 27
Tot. Pips Gained = -229

Statement details Apr07-May07 : http://www.divshare.com/download/838436-bc0
  • #308
  • Edited Jun 7, 2007 1:15pm Jun 6, 2007 7:39pm | Edited Jun 7, 2007 1:15pm
Hi skyline ...

first of all I have to say that is an awesome EA !! I have tried some commerical one (demo) that are not close as good as your...skyline, I have a question ..I am already ~$190 in profit (still demo yet) but the 200 pips T/P is still ~60 pips away. Do I have to close the trades now ?? Or do I let it go ?? How can you take partially profits ?? Does it do a stop and reverse or do I have to start the EA again , once it has closed my trades ??
Many thanks for your help ..
Cheers
Thomas
{image deleted, please repost 600x600 max}
  • #309
  • Jun 7, 2007 2:48am Jun 7, 2007 2:48am
Quoting toxinfre
Hi skyline ...

first of all I have to say that is an awesome EA !! I have tried some commerical one (demo) that are not close as good as your...skyline, I have a question ..I am already ~$190 in profit (still demo yet) but the 200 pips T/P is still ~60 pips away. Do I have to close the trades now ?? Or do I let it go ?? How can you take partially profits ?? Does it do a stop and reverse or do I have to start the EA again , once it has closed my trades ??
Many thanks for your help ..
Cheers
Thomas
Hi Thomas ,
I'm glad that you like this little EA
The EA will close the trades opened for each pair in the same day when :

- TP hit (no more trade will be opened until next day)
- SL hit (with a stop and reverse will also open another trade for a maximum set by MaxLossesTradesPerDay)
- when HourToCloseOrders time will be reached (no more trade will be opened until next day)

Happy Pips

Skyline
  • #310
  • Jun 13, 2007 7:16pm Jun 13, 2007 7:16pm
Hi skyline,

I am seriously thinking of moving to a live account now using your EA... I am $1647.82 in profit - and that's only this week , using an initial deposit (demo) of $3000 !! I have traded 1 lot sizes on 10 currencies simultaneously. One question...in another thread I have read of the VAR option for variable lot sizes and the recommendation not to trade fixes lot sizes. Does your EA has this feature ? Or am I fine using 1 lot on my live account ?

Thanks again for your help!
Thomas
  • #311
  • Jun 14, 2007 3:01am Jun 14, 2007 3:01am
Quoting toxinfre
Hi skyline,

I am seriously thinking of moving to a live account now using your EA... I am $1647.82 in profit - and that's only this week , using an initial deposit (demo) of $3000 !! I have traded 1 lot sizes on 10 currencies simultaneously. One question...in another thread I have read of the VAR option for variable lot sizes and the recommendation not to trade fixes lot sizes. Does your EA has this feature ? Or am I fine using 1 lot on my live account ?

Thanks again for your help!
Thomas

Hi Thomas,
don't be drive by this past week and jump to wrong conclusion about this EA. Infact in these days EA is performing really good due to strong uptrend on GBPJPY but in the past months (apr-may) it was not so good and there was bad drawdown.
The EA get the feature that you are speaking about , you can just set the UseMoneyManagement = true and Risk = Percentage that you want to risk for each trade , for example Risk=2 will open trade with lot based on 2% of your current equity.
Be aware to not overleverage your trades, keep the pair traded low. A good rule could be to add a pair for each 1000$ in the account with risk=1-2% for each trade, so if you get an account with 3000$ you will trade only with 3 pairs (but in general I suggest to use less correlated pairs).
I tested EA deeply only with GBPJPY with mixed results so I'm not able to suggest you which other pairs are fine for this EA , you have to check out by yourself.
Last words : I cannot guarantee any income using this EA. It's your risk to use it in your live account with real money.

Happy pips
  • #312
  • Jun 14, 2007 6:36am Jun 14, 2007 6:36am
Hi Skyline,
thanks for that. I will try these setting in my demo account. Actually, I think the benefit of trading more currencies simultaneously with this EA is:

Diversification !!

I mean, no fund manager in the world would trade only one share ...you have to have a diverse portfolio to make a profit. I think that holds true also for currencies and your script would just do that. Of course I have a number of bad pairs ..but I don't worry, because I have more of the good ones...so, trading like 10 currency pairs simultaneously is like an inbuild hedging function. In fact it really looks quite nice on the demo, but I agree the GBP/JPY pair had a major effect on my demo results (50% of the profit are due to the GBP/JPY move).

Next week I'll test some other settings of your script and when this turns out to be okay I'll move to live. Hey, skyline...no worries...I won't sue you if this does not turn out to be alright. I never trade with money that I cannot afford to loose...http://www.forexfactory.com/images/icons/icon12.gif

Thanks again for your reply ...
Thomas
  • #313
  • Jun 14, 2007 7:05am Jun 14, 2007 7:05am
Quoting toxinfre
Hi Skyline,
thanks for that. I will try these setting in my demo account. Actually, I think the benefit of trading more currencies simultaneously with this EA is:

Diversification !!

I mean, no fund manager in the world would trade only one share ...you have to have a diverse portfolio to make a profit. I think that holds true also for currencies and your script would just do that. Of course I have a number of bad pairs ..but I don't worry, because I have more of the good ones...so, trading like 10 currency pairs simultaneously is like an inbuild hedging function. In fact it really looks quite nice on the demo, but I agree the GBP/JPY pair had a major effect on my demo results (50% of the profit are due to the GBP/JPY move).

Next week I'll test some other settings of your script and when this turns out to be okay I'll move to live. Hey, skyline...no worries...I won't sue you if this does not turn out to be alright. I never trade with money that I cannot afford to loose...http://www.forexfactory.com/images/icons/icon12.gif

Thanks again for your reply ...
Thomas
I agree with you Thomas , diversification could better handle drawdown periods but if you are willing to use 1 lot for each trade over 10 pairs using only 3000$ account this for me is a suicide strategy that will lead to margin calls.
Another aspect to take care is that you cannot use the same settings for all pairs, one thing is 40 pips s/l for GPBUSD and another thing is the same 40 pips s/l for EURGBP , otherwise you will be too much exposed with some currency rather than others. Thus you have to deeply test in demo account best possible settings for all pairs before go live and this could request some months.
Anyway I'll be happy if you'll post your results here from your live account using Daily Scalping EA when you'll go live
  • #314
  • Jun 14, 2007 9:02pm Jun 14, 2007 9:02pm
yes, I agree skyline ...I have to test a bit more over the coming weeks. I'll use some conservative money management figures but I will keep trading 10 currencies simultaneously as this give me the hedging/profit results. I am trying to tweak also the S/L & T/P settings. I normally start the EA the Asian session and check beore it the Europe session starts...then I take early profits or close bad trades and leave the rest running...Anyway ..I let you know of some my results ...
Thanks a bunch http://www.forexfactory.com/images/icons/icon14.gif
Thomas
  • #315
  • Jul 9, 2007 11:39pm Jul 9, 2007 11:39pm
sorry.. please someone comfirm about IBFX Time i thought -1 GMT. I do check their market watch time and GMT time gmt time shown 5.30 and ibfx shown 4.30.. please comfirm it.

Quoting Eureka
In the Market Watch window on the left side of the platform, there is a clock ticking. That's the time that your broker is using on the charts. For instance, I'm using InterBank and their time is 0 GMT. So, I leave the setting at 0.
  • #316
  • Sep 9, 2007 10:07pm Sep 9, 2007 10:07pm
Skyline:

I like your EA, and have demo tested it and when I open the on Tuesday bec I want to see the monday trade first, the EA automatically takes a BUY or a sell trade, how does it know that.

I wanted to take a BUy but the EA first trade was a sell, am I missing something here.

Thanks
Zee
  • #317
  • Oct 26, 2007 10:33am Oct 26, 2007 10:33am
Just tested this EA on several brokers and it seems I am experiencing some undesired results.

When trades take place a SL, TP is used but it not respected, the EA still closes trades regardless. It does this in seconds or less.

I tested the EA with the following brokers Alpari, IBFX, SGB and Aleccoh.

I only want to go off Alpari and Aleccoh for now because Aleccoh FX is meant to have no slippage or requotes.

When attached to the alpari account it only opens buy trades, but when attached to aleccoh it only opens sell trades.

The EA also ignores stop trading after 3 losses per day parameter.

I am not sure what is causing this and have no coding experience.

Do you think it is the broker or the EA. You see if it was the broker causing this I would have thought they would just disable it, even though it is only on a demo account.

Maybe I am being dumb and am missing something? I am using correct settings, optimised ones and also using correct GMT offset.

Anyway I messaged skyline about this.

See attachments for explanation of my post, you will see what is going on.
Attached File(s)
File Type: zip alpari statement of scalper EA.zip   8 KB | 1,054 downloads
File Type: zip Total Loss, not respecting TP, SL or max of 3 losing trades.zip   9 KB | 675 downloads
  • #318
  • Feb 28, 2008 9:07pm Feb 28, 2008 9:07pm
Hi,Who could help me find a better MA crossing EA?Tksele
  • #319
  • Mar 28, 2008 12:29pm Mar 28, 2008 12:29pm
Hi There. I read the daily scalping thread by Kimble. My question is that this EA doesn't seem to follow the rules. Or maybe I am missing it. It was my understanding that at 2400 GMT you enter and order in the direction of the previous day's trend. And you then enter a trade in the opposite direction 40 pips away.

Does this EA enter both orders for you or only one? And you then have to enter the opposite direction order.

Thank you!!!
  • #320
  • Apr 3, 2008 9:55am Apr 3, 2008 9:55am
can someone pls teach me how to set EA..for auto trade
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