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High & Low 8 Hours (GBP/JPY)

  • #581
  • Nov 15, 2007 12:23pm Nov 15, 2007 12:23pm
I have a suggestion on MM for the followers of this method.

May be this is not new.

Let us say 1 lot is the safest.

You keep trading 1 lot until you make net 8 wins.
Then you trade 2 lots until you either loose twice in a row or netted 4 wins

if you loose twice in a row you go back to 1 lot until 4 net wins from that point and then come back to 2 lots

If you netted 4 wins with 2 lots you move on to 4 lots size and the logic repeats.

It's like risking what is earned only and accelerate the growth.

Does it make sense or am I missing something very basic here.

Good luck and invite comments

TradeStar
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #582
  • Nov 15, 2007 3:59pm Nov 15, 2007 3:59pm
Quoting billbss
It's 2200 - 0559 GMT.
Nicotina is a great guy and an excellent trader. He has problems with English is the reason he doesn't answer many questions.
I speak well write it is more complicated but also do not have much time sorry guys

MSN: [email protected]
  • #583
  • Nov 15, 2007 7:48pm Nov 15, 2007 7:48pm
16/11/2007


Buy: 226.99
Sell: 225.11
  • #584
  • Nov 15, 2007 8:20pm Nov 15, 2007 8:20pm
Quoting Qman
You have to restart your metatrader terminal for the list to refresh. Assuming you put the EA in the proper folder it will show up once you restart.

However, do note the problems others are seeing with the EA. I'd wait if I were you. I think someone will program a new one as soon as they have free time. There are many talented people around. They will eventually find this thread and will make something. I'll be working on it myself in the near future (a week or two) though I'm not a very good programmer. But given the start some have made on this so far, I think it will not be too hard. For an experienced programmer this is pretty simple. I bet they could do it in an hour or two.

The alternative is for folks in the group to chip in to pay someone to write the code. Again, it is not a difficult system, so coding wouldn't cost too much. But, can we trust each other?... And would we then be willing to give it away for free? ... From what I'm seeing, it would pay for itself in 2 to 3 days.

Thought anybody... I vote for waiting for someones charity.
Qman,
I agree with you. I have used “!Dan-EA v29[1].3 ts-gbp-jpy_1t.mq4” ( this is the EA modified by superbem, page 18 #259). I have been testing it for the last four days in northfinance.com demo account. However, I am not sure how it works. It has triggered only one trade so far and buy stop and sell stop prices were totally different than what it was supposed to be. Well While I am writing this message it started new sell stop 225.58, weird.

I would really like to learn MQL 4 programming (I am an engineer and a little familiar with programming). I think this way it will give me an opportunity to make some modifications to any existing EAs and test them.

So can anyone explain the first section of this EA :

// Universal settings

// Money management
extern double FixedLots = 0.3; // if > 0.0 fixed lots used
extern double Risk = 0.01; // per cent of free margin of a single offer (HOW RISK WORKS OUT?????)

extern int StopLoss = 50;
extern int TakeProfit1 = 100;
//extern int TakeProfit2 = 70;
//extern int TakeProfit3 = 60;

extern int DayStartHour = 4; (WHAT DOES IT MEAN???)
extern int StopShift = 0; (WHAT DOES IT MEAN???)
extern int OrderExpirationHours = 20; (WHAT DOES IT MEAN???)



bool extremsSet = false;
double dayHigh = 0.0; (WHAT DOES IT MEAN???)
double dayLow = 0.0; (WHAT DOES IT MEAN???)
  • #585
  • Nov 15, 2007 8:27pm Nov 15, 2007 8:27pm
Quoting TradeStar
I have a suggestion on MM for the followers of this method.

May be this is not new.

Let us say 1 lot is the safest.

You keep trading 1 lot until you make net 8 wins.
Then you trade 2 lots until you either loose twice in a row or netted 4 wins

if you loose twice in a row you go back to 1 lot until 4 net wins from that point and then come back to 2 lots

If you netted 4 wins with 2 lots you move on to 4 lots size and the logic repeats.

It's like risking what is earned only and accelerate the growth.

Does it make sense or am I missing something very basic here.

Good luck and invite comments

TradeStar

I was hoping to get some feedback. Looks like I don't make much sense !
anyways the sell got triggered.
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #586
  • Nov 15, 2007 8:35pm Nov 15, 2007 8:35pm
Quoting TradeStar
I was hoping to get some feedback. Looks like I don't make much sense !
anyways the sell got triggered.
TradeStar,

It definitely makes sense... It sounds reasonable... However, i like to take risk
  • #587
  • Nov 15, 2007 8:37pm Nov 15, 2007 8:37pm
Quoting Fx97
TradeStar,

It definitely makes sense... It sounds reasonable... However, i like to take risk
make a lot of sense. Something I will try to follow.
Trade what you see, not what you think.
  • #588
  • Nov 15, 2007 9:09pm Nov 15, 2007 9:09pm
Quoting maestr2
make a lot of sense. Something I will try to follow.
Yes I will too... I am familiar with your website, it is great....
  • #589
  • Nov 15, 2007 10:41pm Nov 15, 2007 10:41pm
First order stopped out
  • #590
  • Nov 15, 2007 10:51pm Nov 15, 2007 10:51pm
2nd order triggered....praying...
  • #591
  • Nov 15, 2007 10:57pm Nov 15, 2007 10:57pm
sell was at225.11 so far price made high of 225.41 so its not stopped out yet
  • #592
  • Nov 15, 2007 10:58pm Nov 15, 2007 10:58pm
I use 30 pip stop
Quoting harold4x
sell was at225.11 so far price made high of 225.41 so its not stopped out yet
  • #593
  • Nov 16, 2007 12:05am Nov 16, 2007 12:05am
the stop for this is 50 thats why you got stopped out the pair moves a lot
  • #594
  • Nov 16, 2007 1:03am Nov 16, 2007 1:03am
I realized that after I posted. Anyway...second one just triggered...
Quoting harold4x
the stop for this is 50 thats why you got stopped out the pair moves a lot
  • #595
  • Nov 16, 2007 1:11am Nov 16, 2007 1:11am
-100 for today.
  • #596
  • Nov 16, 2007 1:11am Nov 16, 2007 1:11am
2nd trade stopped out...not in the cards today...-80pips (1 30 pip loss)
  • #597
  • Nov 16, 2007 1:20am Nov 16, 2007 1:20am
Quoting Colostarr
2nd trade stopped out...not in the cards today...-80pips (1 30 pip loss)
Hope you didn't double your lots today.
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #598
  • Nov 16, 2007 3:30am Nov 16, 2007 3:30am
may I know, for november how many pips we already win??
  • #599
  • Nov 16, 2007 3:59am Nov 16, 2007 3:59am
Quoting TradeStar
I was hoping to get some feedback. Looks like I don't make much sense !
anyways the sell got triggered.
TradeStar,

the risk-limiting part of your proposal really makes sense, however, the assumption that is the underlying justification for your method doesn't hold.

Increasing lots this way means that you're assuming that results of past trades somehow influence the outcome of future trades.

However, they don't and don't we all know this?

All we have is this current open trade that needs to be managed. Prior trades are past, future trades aren't there yet; the only trade that tells us something about performance potential is the current open trade.

A better way would be to add to a position that already has run into the right direction, but only so after a stop loss was at least trailed to the break-even level. This way you don't expose your account to additional risks (assuming your additional position is also properly protected by a stop) whilst still increasing your effective leverage...

There's another reason why increasing your initial position like you propose is counter productive: if you happen to use a fixed % risk per trade, increasing lot sizes would mean that you'd have to reduce the stop distance in order to remain within the same risk profile. Very quickly, these narrower stop distances will kick you out of the market, whereas a single position would have allowed you to stay in...

just my 0.02 €

take care
Ohka
  • #600
  • Nov 16, 2007 4:05am Nov 16, 2007 4:05am
I used NF broker meta4....what time NF broker should i take HI and LO? could somebody tells..tq
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