Daily95pips | Page 62 | Forex Factory

Options

Go to
Permalinks
Print Thread
Attachments: Daily95pips
Exit Attachments

Daily95pips

  • #1,221
  • Dec 3, 2007 6:32pm Dec 3, 2007 6:32pm
Quoting tsquad
My original thought was to use the pivot point +or- 5 pips as to where to trigger the order. We are on the same page for S2, S3 or R2 and R3 as TP or SL points. My concern was that I might be getting the cart before the horse because I really don't have a lot of experience using the pivot points.

As far as which pair to use pivot points on - I think it would be applicable to all of the pairs. We would just have to define how big a daily move would need to be in order to use the pivot point logic instead of the 'normal' logic.

Again - all input is appreciated...

Tim

BTW Samantha - love the Proverb's quote - one of my favorites...

Hi -

I think your idea is ideal for large movements, only problem I can see is the variables that occur with pivot trading (they drive me crazy). The currency pair doesn't always head to say the S3/R3 levels after it reaches the S2/R2 level, it may head back to the S1/R1 level, etc.. It isn't so cut and dried and a trailing stop is almost always necessary. Risk may be in the TS?

I have a Metatrader Pivot Point & Fibo indicator which shows highs and lows and a couple of take profit levels - it's simple and effective.

I use it on my 1 hour chart. I am attaching it just in case your would like to review it to see if it could be somewhat adapted or help in developing an EA.

I also understand what mtaboneweb is saying - perhaps we need to wait a while and test the reverse EA. Too bad we can't clone him.

Yep, good proverbs quote - ain't it the truth?

Let me know if the indicator helps.

Sam
Attached File(s)
File Type: mq4 BobokusFibo.mq4   5 KB | 573 downloads
  • #1,222
  • Dec 3, 2007 6:49pm Dec 3, 2007 6:49pm
Quoting dbeach777
I only trade one pair using this system, and that is EUR/USD. I do not however blindly use this system every day, but instead use discretion, and have had pretty good luck with it. I chose not to trade short today based on price being on the trend line. Yes, that trend line may be broken, but until it is, I decided not to trade, and saved myself 90 pips. When it's trending up, like it has been for years now, I only take long trades. Granted, we may be in for a bigger correction, and I may take short trades again, once the trend line is broken, and price is back in the bigger channel. I know in some cases, my discretion will be wrong, but it's just my personallity not to let an EA do "all" the trading for me :-)
I understand that it is your trading style, but over time, this system has proven to be quite profitable. Thanks mikelath!
  • #1,223
  • Dec 4, 2007 4:30pm Dec 4, 2007 4:30pm
Daily95pips:

Date: Monday 3 December 2007
EURJPY -90
USDJPY nt
EURUSD -90

Total: -180pips

Comment: These things were sent to try us....I'll just have to ride out the current slump towards increased profitability.

Date: Tuesday 4 December 2007
EURJPY +15
USDJPY +95
EURUSD +95

Total: +205pips

Comment: There's a light at the end of the tunnel....
  • #1,224
  • Dec 4, 2007 9:52pm Dec 4, 2007 9:52pm
I just wanted to let everyone know that the demos are still running and seem to be doing just fine. It has become difficult for me to post daily results but I will definitely post entire weekly results and the on-going overall results at the end of each week. I am glad to say that Vensik has offered to help in the testing of the reverse versions of this EA. He has been running demos that match what I am doing but in reverse since Sunday. The results are being posted to a website were I can retrieve the information and throw it into my spreadsheet so we can start to see how it's panning out. So at the end of each week I will post the weeks results and on-going results for the regular EA and reverse.

I have also modified my spreadsheet to show how many days/trades have been placed and the average per day. The amounts are the entire trades divided by 3 since 3 trades are triggered at a time. You can see in the picture that the AUD/CAD is "5 (-69)" which means that it was triggered 5 days (15 trades total) and the average pips is -69. Here is an update of last weeks data.
Attached Image (click to enlarge)
Click to Enlarge Name: 2007-11-30 Weekly Results.jpg Size: 566 KB
  • #1,225
  • Dec 5, 2007 11:29am Dec 5, 2007 11:29am
Is anyone having problems with the Fall EA NOT moving the S/L back to break even after the first 15 pips is achieved? Mine HAS NOT done it in a few days. Thanks.
  • #1,226
  • Dec 5, 2007 1:57pm Dec 5, 2007 1:57pm
Quoting bjk2801
Is anyone having problems with the Fall EA NOT moving the S/L back to break even after the first 15 pips is achieved? Mine HAS NOT done it in a few days. Thanks.
I have also had that problem on the IBFX and NF versions of the EA. Sometimes it does and sometimes it doesn't. Being that I am running so much at once I can't say if it's lag, an EA problem, or even a broker problem. I will look at the code to see if there might be a potential problem.
  • #1,227
  • Dec 5, 2007 5:53pm Dec 5, 2007 5:53pm
Daily95pips:

Date: Monday 3 December 2007
EURJPY -90
USDJPY nt
EURUSD -90

Total: -180pips

Comment: These things were sent to try us....I'll just have to ride out the current slump towards increased profitability.

Date: Tuesday 4 December 2007
EURJPY +15
USDJPY +95
EURUSD +95

Total: +205pips

Comment: There's light at the end of the tunnel....

Date: Wednesday 5 December 2007
EURJPY +95
USDJPY +15
EURUSD nt

Total: +110pips

Comment: We just need these good results to continue to maintain a decent weekly average.
  • #1,228
  • Edited 7:32pm Dec 5, 2007 6:40pm | Edited 7:32pm
Quoting mikelath
Daily95pips:

Date: Monday 3 December 2007
EURJPY -90
USDJPY nt
EURUSD -90

Total: -180pips

Comment: These things were sent to try us....I'll just have to ride out the current slump towards increased profitability.

Date: Tuesday 4 December 2007
EURJPY +15
USDJPY +95
EURUSD +95

Total: +205pips

Comment: There's light at the end of the tunnel....

Date: Wednesday 5 December 2007
EURJPY +95
USDJPY +15
EURUSD nt

Total: +110pips

Comment: We just need these good results to continue to maintain a decent weekly average.
For some reason my EA - USDJPY pair results were : (+15, -30, -30). The EA did not move stop loss up on remaining 2 trades after +15 was hit )-: Does anyone know how to fix this EA problem?
  • #1,229
  • Dec 5, 2007 11:04pm Dec 5, 2007 11:04pm
EA seems to have problem pushing the TS and i see some the profits you showed doesn't happen with EA
Quoting mikelath
Daily95pips:

Date: Monday 3 December 2007
EURJPY -90
USDJPY nt
EURUSD -90

Total: -180pips

Comment: These things were sent to try us....I'll just have to ride out the current slump towards increased profitability.

Date: Tuesday 4 December 2007
EURJPY +15
USDJPY +95
EURUSD +95

Total: +205pips

Comment: There's light at the end of the tunnel....

Date: Wednesday 5 December 2007
EURJPY +95
USDJPY +15
EURUSD nt

Total: +110pips

Comment: We just need these good results to continue to maintain a decent weekly average.
  • #1,230
  • Dec 6, 2007 2:13am Dec 6, 2007 2:13am
Hi folks.

I've noticed that some are experiencing that the EA is not adjusting the stop to BE after the 1st (or 2nd) PT has been reached. I personally have not had this experience lately (it may have happened before) and I have no idea why it's happening for some of us now. You may want to contact Pr1mer for a possible explanation.
Just to be clear; I am now posting results provided only by the EA running in a NF demo. If the EA doesn't calculate and place orders for either side due to price being too close I am accepting that there may not be a trade for that day. I am using the 'standard' settings as per post #1. This includes not using a trailing stop.

Happy pipping.

mike
  • #1,231
  • Dec 6, 2007 11:50am Dec 6, 2007 11:50am
Today's results:

USDJPY -30, -30, -30
EURJPY +15, -30 -30 (ONCE AGAIN, EA DID NOT MOVE SL UP TO BE!!!
EURUSD -30, -30, -30

WOW!!!!
It cannot get much worse than today!!!! Painful!!
Any thoughts/ideas?
  • #1,232
  • Dec 6, 2007 12:04pm Dec 6, 2007 12:04pm
This may seem like a stupid question or perhaps a simple one. But are you sure you have the Expert Advisor Button ON? I have had a similar problem in the past when I logged into a different account, and then back again. Only I forgot to start up the Advisor again, and I had those results ...

Ken


Quoting bjk2801
Today's results:

USDJPY -30, -30, -30
EURJPY +15, -30 -30 (ONCE AGAIN, EA DID NOT MOVE SL UP TO BE!!!
EURUSD -30, -30, -30

WOW!!!!
It cannot get much worse than today!!!! Painful!!
Any thoughts/ideas?
  • #1,233
  • Dec 6, 2007 12:18pm Dec 6, 2007 12:18pm
Quoting teaguekm
This may seem like a stupid question or perhaps a simple one. But are you sure you have the Expert Advisor Button ON? I have had a similar problem in the past when I logged into a different account, and then back again. Only I forgot to start up the Advisor again, and I had those results ...

Ken
I can't imagine how it would even place the trades in the first place without the Expert Advisors being enabled. Unless you switch accounts in between when the trades are placed and when the SL should be modified. There is a setting in the options not to disable EAs when switching accounts although it's not advisable to uncheck it. Also, you are leaving MetaTrader open with the charts open and the EA's attached and enabled, correct? The MetaTrader, charts, and EA's all need to be in place and running in order for the EA to do maintenance of any orders after they have been triggered.
  • #1,234
  • Dec 6, 2007 12:37pm Dec 6, 2007 12:37pm
Quoting teaguekm
This may seem like a stupid question or perhaps a simple one. But are you sure you have the Expert Advisor Button ON? I have had a similar problem in the past when I logged into a different account, and then back again. Only I forgot to start up the Advisor again, and I had those results ...

Ken
Yes, EA ON..NOT a stupid question. Apparently, some others, in this forum, are experiencing EA issues with IBFX. Thanks for your concern, though!!
  • #1,235
  • Dec 6, 2007 12:39pm Dec 6, 2007 12:39pm
Quoting mtaboneweb
I can't imagine how it would even place the trades in the first place without the Expert Advisors being enabled. Unless you switch accounts in between when the trades are placed and when the SL should be modified. There is a setting in the options not to disable EAs when switching accounts although it's not advisable to uncheck it. Also, you are leaving MetaTrader open with the charts open and the EA's attached and enabled, correct? The MetaTrader, charts, and EA's all need to be in place and running in order for the EA to do maintenance of any orders after they have been triggered.
How do you leave EA on through the settings? When that is set that way, can you MANUALLY turn off the EA on top of the chart? Does the MagicEA Number have anything to do with it? All my MagicEA numbers are the same (i.e. same for each of the three pairs I trade)???
  • #1,236
  • Dec 6, 2007 12:44pm Dec 6, 2007 12:44pm
Some of the issues I've had with this EA are below:

1. If the pending orders have been placed and you close and re-open MetaTrader while it's still within the hour to place the pending orders, then it places another set of pending orders. The EA doesn't do a good job of checking to see if pending orders have already been placed. The EA needs to check things out before it opens pending orders.

2. If you have double pending orders for a currency and one direction is triggered only 3 of the opposite trades are canceled leaving 3 others that could be triggered later in the opposite direction. Double orders shouldn't happen in the first place but the EA should still be able to handle this situation.

3. If it turns out that moving the SL to BE is a lag issue where the broker somehow turns the order to modify down then the EA should re-try on the next tick of the chart until it can be set.

I also think that there should be an option in the EA to say true/false for directly opening orders if the currency is too close to the high/low to place pending orders. In this case it would place direct trades in that direction and not even bother setting pending orders in the opposite direction. Suggestions have been made to place x amount of pips even higher or lower but I feel if you're going to set it that close in the first place then you might as well get in sooner and have a better chance at your TP. If you set it 5 above or below then you will most likely hit that anyways and you've already lost an additional 5 pips already in that direction.

Another idea... Has anyone considered setting the +50 TP's stop loss to +15 once the +30 TP order has hit. In this case if you hit +15 and +30 and your +50 never happens then you would still have +15 for a total of +60 if it only went as far as the +30 marker instead of falling all the way back to 0 leaving you with +45 instead. I realize that moving a SL up would possibly decrease the possibility that the +50 might have enough room to hit +50 but it does ensure more of a profit if it never makes it all the way. I would rather take +15 more on the last order rather than wait for +50 which may not happen. This may leave to small of a window for the maximum profit. It could be added as a true/false setting in the EA.

Thoughts?
  • #1,237
  • Dec 6, 2007 12:50pm Dec 6, 2007 12:50pm
Quoting bjk2801
How do you leave EA on through the settings? When that is set that way, can you MANUALLY turn off the EA on top of the chart? Does the MagicEA Number have anything to do with it? All my MagicEA numbers are the same (i.e. same for each of the three pairs I trade)???
The magic number is not the issue as long as they are different pairs. The EA looks for a match of the magic number and the symbol for the chart it's running on.

Under the options menu there is an Expert Advisor tab. The 2nd and 3rd checkboxes from the top are what I'm talking about. Allow live trading does not need to be checked here as long as it is checked on the EA's settings on the chart.
Attached Image
  • #1,238
  • Dec 6, 2007 12:56pm Dec 6, 2007 12:56pm
Quoting mtaboneweb
The magic number is not the issue as long as they are different pairs. The EA looks for a match of the magic number and the symbol for the chart it's running on.

Under the options menu there is an Expert Advisor tab. The 2nd and 3rd checkboxes from the top are what I'm talking about. Allow live trading does not need to be checked here as long as it is checked on the EA's settings on the chart.
Thanks a lot. I like the idea of taking the extra +15 pips on the final 50 pips of profit (if necessary). Then, why do you just set a trailing stop on the third order? Some pips is better than zero (or negative pips)!! Ideas??
  • #1,239
  • Dec 6, 2007 1:03pm Dec 6, 2007 1:03pm
If you are using an expert advisor and having problems you may consider calling your broker and making sure they are aware you are running a trading script.

I know EA trading is able to be disabled by MT4 brokers server side, some brokers open your account and disable EA trading until you request it on your account.

Obviously it is able to make the trades, but if we can't find the problem in the script maybe something needs to be changed server side to allow a script to change an open order. It's atleast worth a phone call.
The basis of a democratic state is liberty. ~ Aristotle
  • #1,240
  • Dec 6, 2007 1:08pm Dec 6, 2007 1:08pm
Quoting Vensik
If you are using an expert advisor and having problems you may consider calling your broker and making sure they are aware you are running a trading script.

I know EA trading is able to be disabled by MT4 brokers server side, some brokers open your account and disable EA trading until you request it on your account.

Obviously it is able to make the trades, but if we can't find the problem in the script maybe something needs to be changed server side to allow a script to change an open order. It's atleast worth a phone call.
Thanks for the idea, but until a few days ago, the EA was working perfectly.
0 traders viewing now