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EA for trailing stops

  • #21
  • Edited 10:01am Nov 5, 2007 3:31am | Edited 10:01am
Quoting MPP
Hi Charlies
when you back test this do you use only MT4, i ask because i have added the EA to both EU and AU but changed the trailing stop to 100, it produced a significant increase in profits.

the problem i have is seeing what the max draw down would be and how to test over a longer period.

anyway will probably test this on both pairs for a while, to use this EA on more than one chart i only have to change the Magic number?

regards

MPP
Sorry Guys, didn't see these posts....

MPP, I did a little back-testing & the results were not that impressive. I didnt try 100 pip stops, but will test it later. (Now tested with initial stop 50 or 60 & trailing stop increased to 100 or higher does give a better return & lower drawdown. However, that is at a time when the market is trending strongly)

I came to the conclusion that Jacko doesn't trade this mechanically, he chooses the optimum time to get in and out. That is why I allowed the options to get in on a limit or get in on a stop order.

In my opinion, this EA manages the trade for you, but it works best if you choose when to get in to the market.
  • #22
  • Nov 5, 2007 3:34am Nov 5, 2007 3:34am
Quoting zzz
charlies, what happens if the trade is open and then the connection is lost or computer goes dead and the price continues to go against the open position?
The EA sets a stop (with the broker) when it places the trade & checks if the stop needs to be updated on each new bar.

If the connection is lost or computer goes dead, the EA wont be able to update the stop (so the stop won't move during the time that the connection is down) but there is still a stop in place.
  • #23
  • Nov 5, 2007 7:36am Nov 5, 2007 7:36am
thank you. currently running it on eur with 50 and gbp with 75. will let it to go for several weeks to see the results.
  • #24
  • Nov 5, 2007 3:06pm Nov 5, 2007 3:06pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
I agree with that and i think he made it clear about finding entry points when he first posted about Fib's and TL.
i have traded this method in various ways just to see how it works out, some just straight in at round numbers and some with your EA. I have found this to lead to many loses before you catch the correct entry, in the end you win but you go through some bad places first.
I find that by using my charts correctly i look for better entry points and have much better gains.

i have considered multiple entries, say 1.4300 was a good point, i would then once reached add every 50pips, my Sl would be the same for all trades and the risk is reduced or removed every time you add another lots, purhaps this would be a better use for an EA. not sure yet still working the paper trades on it, would be nice if an EA could be back tested though (if you feel like a challange).

Anyway i'm going to try the EA with selected entry points and see how it plays, has the advantage if it works of picking a point and then taking the day off.

Many thanks for your efforts and i hope it all works out for you (and us)

regards

MPP


Quoting charlies
Sorry Guys, didn't see these posts....

MPP, I did a little back-testing & the results were not that impressive. I didnt try 100 pip stops, but will test it later. (Now tested with initial stop 50 or 60 & trailing stop increased to 100 or higher does give a better return & lower drawdown. However, that is at a time when the market is trending strongly)

I came to the conclusion that Jacko doesn't trade this mechanically, he chooses the optimum time to get in and out. That is why I allowed the options to get in on a limit or get in on a stop order.

In my opinion, this EA manages the trade for you, but it works best if you choose when to get in to the market.
  • #25
  • Nov 6, 2007 11:59pm Nov 6, 2007 11:59pm
hey charlies, i have another question: i wanted to run ea for several weeks minimum, non-stop. i just realized that i will lose all the trades that are coming into the weekend. how did you solve this problem?
the server always shuts down on the weekends, so the connection will be lost and e/a probably won't recognize its trade from the last week and won't pick it up, correct?
if i have a trade open on the weekend, then after the trading starts again, i have to either close it or trale it manually or with MT4 trailing stop, right? then, longer trades, with stoploss 100 for eurusd are not really possible, i think. 5 trading days may not have enough move to support them.
  • #26
  • Nov 7, 2007 3:39am Nov 7, 2007 3:39am
Quoting forexclown
hi erkro -

thanks for sharing. i am new to using MT4, EA's, etc. but I find them interesting

i am using the EA on the Interbankfx platform and am having a few issues.


i load the .ex4 file into the /experts folder

it displays in my navigator window but the icon is gray (as if it is disabled) but after I set it up on the chart it displays the face in the upper right corner. It also overlays text in the upper left corner showing the current positions.

i check "allow live trading" and change "profit trailing = false"

the issue is unless i never see the EA execute the transaction. it also does not show any open positions like the one posted by charlies.

do you have any suggestions on how to get working? thanks for the help.
Hi Forexclown, sorry for my late answer, didn't see your question. It is very important that the EA I posted is only a stop EA, so it doesn't buy or sell. You have to buy or sell manuell, then the EA will trail your stop's. Second point is, don't copy the .ex4 file into the expert folder, copy the .mq4 file into the erxpert folder, then it should work.

Erkro
  • #27
  • Nov 7, 2007 4:27am Nov 7, 2007 4:27am
Quoting zzz
hey charlies, i have another question: i wanted to run ea for several weeks minimum, non-stop. i just realized that i will lose all the trades that are coming into the weekend. how did you solve this problem?
the server always shuts down on the weekends, so the connection will be lost and e/a probably won't recognize its trade from the last week and won't pick it up, correct?
if i have a trade open on the weekend, then after the trading starts again, i have to either close it or trale it manually or with MT4 trailing stop, right? then, longer trades, with stoploss 100 for eurusd are not really possible, i think. 5 trading days may not have enough move to support them.
ZZZ, the EA will work seamlessly through the weekend. You can leave it running, or you can close the platform & then reopen it on Monday morning. When the EA restarts, it will check for any trades that it has opened previously & will continue to manage them correctly.
  • #28
  • Nov 7, 2007 8:09am Nov 7, 2007 8:09am
thanks. another question: if i have another trade open on the same pair, but i am running this second trade manually - it is based on a different idea than jacko's. will ea take care of this trade as well, or it somehow knows trades generated by itself and doesn't touch other trades? i guess what i am asking is do i have to have a separate account to trade ea if my experiments prove successful?
  • #29
  • Nov 7, 2007 9:22am Nov 7, 2007 9:22am
Quoting zzz
thanks. another question: if i have another trade open on the same pair, but i am running this second trade manually - it is based on a different idea than jacko's. will ea take care of this trade as well, or it somehow knows trades generated by itself and doesn't touch other trades? i guess what i am asking is do i have to have a separate account to trade ea if my experiments prove successful?
The EA will recognise & manage its own trades, but won't touch trades that you take manually.
  • #30
  • Edited Nov 8, 2007 5:00am Nov 7, 2007 11:29am | Edited Nov 8, 2007 5:00am
thanks. was running 16 eas at the same time and my computer crashed. haven't seen the blue screen of death for 2 years now... well, will run less, probably just 8. i checked the cpu usage - it was low, so i am surprised it crashed.
what is a function of a magic number? can i make it shorter, like 2-3 digits?
  • #31
  • Nov 30, 2007 6:32am Nov 30, 2007 6:32am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
this EA working out well, would like to know if we can add some extras to it

mutli trades - yes/no
pips from original entry -XXX
trailing stop - XXX

what i would like to do is create a setup that will allow the ea to find the first point of entry or use my selected point as this dose, but then auto trade entries every say 50 to 100 pips from there on in.

hope this makes sense and is posisble

regards

MPP
  • #32
  • Dec 5, 2007 7:54am Dec 5, 2007 7:54am
Quoting MPP
this EA working out well, would like to know if we can add some extras to it

mutli trades - yes/no
pips from original entry -XXX
trailing stop - XXX

what i would like to do is create a setup that will allow the ea to find the first point of entry or use my selected point as this dose, but then auto trade entries every say 50 to 100 pips from there on in.

hope this makes sense and is posisble

regards

MPP
MPP,

I have amended the code to place multiple add on trades when an initial trade is triggered.

MultiTrades=false; - set to true for add-on trades
MultiTradeLots=0.5; - set lots per add on trade
MultiTradeDistance=50; - set distance between add on trades
MultiTradeNumber=5; - set maximum number of add on trades
MultiTradeStop=90; - set initial stop for add on trades
MultiTrailingStop=90; - set trailing stop for add on trades

Note that these add on trades do not affect the anti hedging. Anti Hedging is only carried out on the initial trades, not the add on trades.

Hope this is what you were looking for.

Charlie
Attached File(s)
File Type: ex4 JackosAuntyHedgeV3.ex4   18 KB | 3,178 downloads
  • #33
  • Dec 5, 2007 8:32pm Dec 5, 2007 8:32pm
Thank you very much charlies !
  • #34
  • Jan 7, 2008 7:07am Jan 7, 2008 7:07am
Charles thanks for the EA.
  • #35
  • Jan 8, 2008 7:41pm Jan 8, 2008 7:41pm
Hi Charlie or MPP: I have installed the EA and is working fine on EU. However I have also installed on GU and AU and it is not working correctly. When going to MT4 Journal, it shows that the EA is entering orders and then cancelling them. Not sure what is going on. Do you have any change in settings for these currencies?

Rod
Trade what you see, not what you think.
  • #36
  • Jan 9, 2008 2:42am Jan 9, 2008 2:42am
Quoting maestr2
Hi Charlie or MPP: I have installed the EA and is working fine on EU. However I have also installed on GU and AU and it is not working correctly. When going to MT4 Journal, it shows that the EA is entering orders and then cancelling them. Not sure what is going on. Do you have any change in settings for these currencies?

Rod
Rod, No special set up is needed (other than to adjust entry & stop distances for more volatile currencies). Remember that it is valid for the EA to place orders & then cancel them depending on how it is set up:

Quote
If trading long, the EA will place orders 50 pips (EntryDistance) above the current price with a 50 pip stop (InitialStopDistance) & wait for the order to be triggered. If price drops further, it will move the entry price down so that it stays 50 pips above the current price.

As stated previously, it is better to set a preferred stop entry or preferred limit entry based on S&R / fibs / trendlines etc. This avoids entries being adjusted / cancelled based on the current price.
  • #37
  • Edited 1:46pm Mar 24, 2008 1:22pm | Edited 1:46pm
Jacko trailing stops EA question


For some reason EA "trailing stop" only works when I manually left- click on the expert and click execute on the chart..

And right now it did not update the "long trade" where the high was 10 min ago..I guess since it "did not see" it cause it is not running in "non stop" mode

How do you make it run "non stop" seems like it only works in manual mode right now

Also I copied the files to the "scripts" folder.. should be in "Expert Ad visors" folder


GEEZZZZ DUUUH! as soon as i moved it out of the "scripts" folder and into general"experts" folder it started working

THANK YOU ERKRO for answering my questions!! I simply had it in the wrong folder "SCRIPTS" nd since they execute once as scripts should it was not trailing the stops all the time!

here's my settings

Inserted Code
extern bool   AllPositions = true; // (True To modify all positions ) False(modify chart positions)
extern bool   ProfitTrailing = false; //(To Trail only postions on profit not loss ) 
extern int ProfitTarget=0;    // Setting this value will calculate all open trades and close if profit reached. 
extern int TrailingStop=50;    // Minimum is 5
extern int    TrailingStep   = 1;
extern bool   UseSound       = False;  
extern string NameFileSound  = "expert.wav";
  • #38
  • May 2, 2008 2:38am May 2, 2008 2:38am
Hello guys,

please can one of you explain to me how to install the ex4 file on my trading platform?
I always used mq4 files and this is the first time I want to install an ex4.

Thanks a lot!

Cyborg
  • #39
  • May 2, 2008 9:47am May 2, 2008 9:47am
Place in ex4 in the same directory that you would place an MQ4. Then compile any other MQ4 that you do NOT have currently loaded. The compile action will stimulate the terminal client to refresh its entire list of EX4s and display them in the EA/Custom indicator trees/menus.
  • #40
  • May 2, 2008 9:51am May 2, 2008 9:51am
Hi Royce,

thanks for your help!

Cyborg
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