I find something like daily95 pips but another high and low level
http://www.forexfactory.com/showthread.php?t=51365
http://www.forexfactory.com/showthread.php?t=51365
Hello rswamy4449,
The reason that some orders are canceled is because when the stops in one direction are triggered, the stops in the other direction are canceled. Example, if the BuyStop Pending Orders are triggered, The SellStop Pending orders will be canceled (or deleted).
Hope this helps!
Have a Pipfull Day!
PipHunter: Good evening!
Thank you for your prompt response and immense help.
I really likethis trading strategy is so practical and easy to follow.
I thank you all, specially, Mike, Pr1mer and you for develpong and sharing this great tool with all of us.
I will report my weekly progress here.
Nice weekend to all!
Sincerely,
rswamy4449
- #903
- Nov 10, 2007 7:57pm Nov 10, 2007 7:57pm
I've been using the EA since Nov.2nd on the USD/JPY, EUR/JPY, and GBP/USD and AUD/USD Daily Pips EA and I'm up +275 pips net profit so far. The Piazza method EA has brought me in +280 in the same time period and the QBOT EA from the forex-tsd forum for another +150 pips. Total from November 2nd to November 9th. +705 pips profit. Life is Good. Paris
I'm gonna checkout these EA's.
rgs
mike
Thanks for sharing Paris.
I'm gonna checkout these EA's.
rgs
mike
- #905
- Nov 10, 2007 8:30pm Nov 10, 2007 8:30pm
I got 3 private messages for the EA's I'm using. I can't reply because I have less than 15 posts. So I'll post here. All the EA's I've been running I've only started testing Nov. 2nd so it's too early to tell yet if they'll be successful. I'll see where everything stands at the end of November. I made +705 pips on my home computer and exactly +400 pips at my work computer since I've started using the 3 eas since November 2nd. The settings are the same but I'm using different brokers. The one at home is North Finance and the one at work is FXDD. So far it looks real good. The EA's don't over trade and it's really easy to stay on top of it. I'll keep everyone updated. Qbot is posted at forex-tsd forum and the Piazza method EA is my own creation using a newly devised EA. Paris
While this thread continues to develop, for the sake of all us pip seekers could you please be so kind so as to attach these EA's to a post on this thread ?
rgs
mike
- #906
- Nov 10, 2007 10:52pm Nov 10, 2007 10:52pm
- | Joined Oct 2007 | Status: work in progress | 1,009 Posts
have you tried it with the same magic number as a load and go and seen any differences in the trades compared with changing the magic number for each??
Here are the IBFX results for today:
EUR/USD = No Trades Activated
USD/JPY = SellStops Activated
Order #1 = +15 Pips
Order #2 = +30 Pips
Order #3 = Break Even
EUR/JPY = BuyStops Activated
Order #1 = +15 Pips
Order #2 = +30 Pips
Order #3 = +50 Pips
Total: +140 Pips / +$124.63
Week Total: +170 Pips / +$174.97
Please Note that I run the expert with set lots of .10 on a standard account with no trailing stop for test purposes. I also run a separate expert for each pair with the EAMagicNo changed for each pair. This is just my way of doing it. It is a very complicated expert and some have stated that it is not opening the correct amount of pending orders while using the same expert on all pairs at the same time.
Don't chase the market, Let the market come to you
- #907
- Nov 11, 2007 1:12am Nov 11, 2007 1:12am
Hi fellow pipsters. 
Some of you may be wondering why I got +407pips on Friday and you didn't....
After repeated experiences of having the 2nd and 3rd orders being stopped out after the EA moved the SL to BE once the 1st profit target was reached I decided to change the UpdatetoBE setting from 15 to 30, meaning that the EA now moves the stoploss to breakeven only after the 2nd profit target of 30pips is reached.
This has worked well so far, however be aware that it also exposes the trades to more potential loss ie. once the 15PT is reached and price retraces to the -30SL the result will be -45pips instead of locking +15pips if the SL had been moved to BE after the 1st PT was reached. The upside of course is that the 2nd and 3rd orders now have more room to move in achieving their profits which is what happened on Friday.
I'm also using the trailing stop feature on the 3rd order.
Tweaking of this system continues and I'm still over the moon about Pr1mer creating such a great EA !
rgs
mike
Some of you may be wondering why I got +407pips on Friday and you didn't....
After repeated experiences of having the 2nd and 3rd orders being stopped out after the EA moved the SL to BE once the 1st profit target was reached I decided to change the UpdatetoBE setting from 15 to 30, meaning that the EA now moves the stoploss to breakeven only after the 2nd profit target of 30pips is reached.
This has worked well so far, however be aware that it also exposes the trades to more potential loss ie. once the 15PT is reached and price retraces to the -30SL the result will be -45pips instead of locking +15pips if the SL had been moved to BE after the 1st PT was reached. The upside of course is that the 2nd and 3rd orders now have more room to move in achieving their profits which is what happened on Friday.
I'm also using the trailing stop feature on the 3rd order.
Tweaking of this system continues and I'm still over the moon about Pr1mer creating such a great EA !
rgs
mike
- #908
- Nov 11, 2007 3:25am Nov 11, 2007 3:25am
I find something like daily95 pips but another high and low level
http://www.forexfactory.com/showthread.php?t=51365
I've been using the EA from this thread on GBPJPY only for the past 3 days and it has brought +150pips so far. It uses a 100PT and 50SL and seems to be a reliable and efficient EA.
rgs
mike
- #909
- Nov 11, 2007 9:15am Nov 11, 2007 9:15am
- | Joined Oct 2007 | Status: Bring On The Pips | 78 Posts
have you tried it with the same magic number as a load and go and seen any differences in the trades compared with changing the magic number for each??
This is just my way of testing EAs. I have found, in the past, that sometimes having the same magic number, even if it is on different pairs, will cause trades to be closed or not executed. As I said, this is just my way of doing it.
Have a PipFull Day!
- #910
- Edited 10:26am Nov 11, 2007 9:49am | Edited 10:26am
- | Joined Oct 2007 | Status: work in progress | 1,009 Posts
Don't chase the market, Let the market come to you
- #911
- Nov 11, 2007 10:36am Nov 11, 2007 10:36am
- | Joined Oct 2007 | Status: work in progress | 1,009 Posts
Don't chase the market, Let the market come to you
- #915
- Edited 3:02am Nov 12, 2007 2:27am | Edited 3:02am
Mike - your daily results probably go back farther than anybody else's. Do you have a breakdown as per the day of the week or a way you could easily compute it? I am curious to know if for example, Tuesdays are more profitable than Fridays. Maybe there is a trend there we should be paying attention to.
I also wanted to make sure and point out the obvious - just in case. Even the best systems will have their draw downs. Responsible money management is the difference between investing and gambling. Without a plan in place, the market will get you. It may not be today or tomorrow, but it will happen.
Thanks again everyone.
Tim
I'm not really inclined to do a backtest in order to determine which days of the week have performed better than others, as this average could just as easily change again as further forward testing is done. If you'd like to do this exercise then be my guest as all the daily and weekly results are on this thread to help you with the calculations. Have fun.
:So far I've found that good results can come on any day, therefore I leave the potential for profits open for the full 5 days, Mon-Fri.
Regarding the worst possible scenario for the day, well it happened today with EJ, UJ and EU all stopping out for a total loss of -270pips. I think this is the first day it's happened. The worst possible scenario on a longer timeframe would be if this repeated everyday until my trading account is blown.
So yes, this is also possible though not very likely. The best MM pertaining to this strategy is the use of multiple profit targets, moving the stoploss to BE after the 1st or 2nd PT is reached and using a TS on the 3rd order.
If you can think of anyway to improve upon this MM system I'm sure we'd all appreciate you sharing it.
Having said all that, I'll keep praying for success.
cheers
mike
- #916
- Nov 12, 2007 5:48am Nov 12, 2007 5:48am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Thanks mikelath for posting this strategy. Thanks primer for the brilliant ea. Thanks all the other contributors for your contributions to this thread. I have read the first 20 pages and last 10, and will catch up on the pages in between now that FF is back on line.
I have already done my first +203, within three-and-a-half hours of the ea setting the first orders. Fantastic. I know there will be losing days, but the results you have all been getting speak for themselves.
This is my 10th month of surviving, just, in Forex. I have made and lost money, mostly lost. I have been learning and gradually become aware of the importance of Fibonacci support and resistance points. I am a looooonnnnnnng way from expertise, so I make this contribution with due deference to more experienced traders.
I used Fib s\r to adjust the EU third order tp. The attached image shows the tp as set by the ea to slightly below -61.8, a major support. There is every chance that a price will rebound from this, so I set my own tp a couple of pips higher. As things turned out, the price broke the barrier so I lost a couple of pips; another day I might have saved myself some profit.
I also checked that the stop losses were not affected. For example, a sl on a sell just below a resistance point could save the trade if moved beyond that point. The negative is that I could lose a few more pips if the price continued rising, but the image is a great example of s\r at work.
After the thick red candle, there is a faint, hard-to-see thin green candle where the price spent an hour bouncing between -23.6 and -50 before finally making up its mind and falling later on. You will need to enlarge the image to see the candle.
I offer these thoughts as a possible refinement for those able to monitor the positions once the ea has opened them. I have attached a great Fib indicator, courtesy of Spud, which shows the s\r points in detail. It is worth changing the colours to white to make it more legible.
Good luck everybody. I am putting the ea on my live account in time for tomorrow, so expect the strategy to begin failing instantly.
I have already done my first +203, within three-and-a-half hours of the ea setting the first orders. Fantastic. I know there will be losing days, but the results you have all been getting speak for themselves.
This is my 10th month of surviving, just, in Forex. I have made and lost money, mostly lost. I have been learning and gradually become aware of the importance of Fibonacci support and resistance points. I am a looooonnnnnnng way from expertise, so I make this contribution with due deference to more experienced traders.
I used Fib s\r to adjust the EU third order tp. The attached image shows the tp as set by the ea to slightly below -61.8, a major support. There is every chance that a price will rebound from this, so I set my own tp a couple of pips higher. As things turned out, the price broke the barrier so I lost a couple of pips; another day I might have saved myself some profit.
I also checked that the stop losses were not affected. For example, a sl on a sell just below a resistance point could save the trade if moved beyond that point. The negative is that I could lose a few more pips if the price continued rising, but the image is a great example of s\r at work.
After the thick red candle, there is a faint, hard-to-see thin green candle where the price spent an hour bouncing between -23.6 and -50 before finally making up its mind and falling later on. You will need to enlarge the image to see the candle.
I offer these thoughts as a possible refinement for those able to monitor the positions once the ea has opened them. I have attached a great Fib indicator, courtesy of Spud, which shows the s\r points in detail. It is worth changing the colours to white to make it more legible.
Good luck everybody. I am putting the ea on my live account in time for tomorrow, so expect the strategy to begin failing instantly.
Thanks for great suggestions SteveHopwood!
Adjusting levels of stop-losses and take-profits is the greatest issue with this EA. So far people here use mostly fixed values, but I think that at least different values for different pairs based on their volatility should be used. There were alse some attempts from bkjusal to use ATR.
I really like your idea of using Fibs (I'm a fan of them too). Do you compute them just between day's high and low?
Tell me about your tests using this modification, I might incorporate it into the next verion of EA if it's successful.
Be warned that the current version of EA shouldn't used with live accounts, it's still not reliable enough. However, if you decide to use it anyway, at least do more demo testing to be comfortable with it.
Pr1mer
Adjusting levels of stop-losses and take-profits is the greatest issue with this EA. So far people here use mostly fixed values, but I think that at least different values for different pairs based on their volatility should be used. There were alse some attempts from bkjusal to use ATR.
I really like your idea of using Fibs (I'm a fan of them too
). Do you compute them just between day's high and low?Tell me about your tests using this modification, I might incorporate it into the next verion of EA if it's successful.
Be warned that the current version of EA shouldn't used with live accounts, it's still not reliable enough. However, if you decide to use it anyway, at least do more demo testing to be comfortable with it.
Pr1mer
Thanks mikelath for posting this strategy. Thanks primer for the brilliant ea. Thanks all the other contributors for your contributions to this thread. I have read the first 20 pages and last 10, and will catch up on the pages in between now that FF is back on line.
I have already done my first +203, within three-and-a-half hours of the ea setting the first orders. Fantastic. I know there will be losing days, but the results you have all been getting speak for themselves.
This is my 10th month of surviving, just, in Forex. I have made and lost money, mostly lost. I have been learning and gradually become aware of the importance of Fibonacci support and resistance points. I am a looooonnnnnnng way from expertise, so I make this contribution with due deference to more experienced traders.
I used Fib s\r to adjust the EU third order tp. The attached image shows the tp as set by the ea to slightly below -61.8, a major support. There is every chance that a price will rebound from this, so I set my own tp a couple of pips higher. As things turned out, the price broke the barrier so I lost a couple of pips; another day I might have saved myself some profit.
I also checked that the stop losses were not affected. For example, a sl on a sell just below a resistance point could save the trade if moved beyond that point. The negative is that I could lose a few more pips if the price continued rising, but the image is a great example of s\r at work.
After the thick red candle, there is a faint, hard-to-see thin green candle where the price spent an hour bouncing between -23.6 and -50 before finally making up its mind and falling later on. You will need to enlarge the image to see the candle.
I offer these thoughts as a possible refinement for those able to monitor the positions once the ea has opened them. I have attached a great Fib indicator, courtesy of Spud, which shows the s\r points in detail. It is worth changing the colours to white to make it more legible.
Good luck everybody. I am putting the ea on my live account in time for tomorrow, so expect the strategy to begin failing instantly.
- #920
- Nov 12, 2007 8:25am Nov 12, 2007 8:25am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
I really like your idea of using Fibs (I'm a fan of them too
Tell me about your tests using this modification, I might incorporate it into the next verion of EA if it's successful.
Be warned that the current version of EA shouldn't used with live accounts, it's still not reliable enough. However, if you decide to use it anyway, at least do more demo testing to be comfortable with it.
Pr1mer
Thanks Primer. I hadn't realised that - better read the pages I have missed. I will only use tiny lot sizes; as someone else here said, I can stand $9.
