High & Low 8 Hours (GBP/JPY)

Quoting bhatiaashish007

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I am using saaedb EA in metatrader demo account .i have metatrader downloaded from alpari uk limited.i am from india and the time is just right for me to trade.I do not open my computer at 2.00 gmt i.e.7.30am indian time but around 1.30pm indian time i.e--8 .00gmt.the EA is activated on chart rightly but the trades it opens do not match with high and lows from 18gmt to 2gmt.Is the problem because that i am not opening the computer and internet connection at 2.00gmt that this problem is happeneing??If i need to open my computer at 2.00gmt then why i need EA ,i might as well place orders manually?any solution to my problem??please help?My metatrader is set up at UK time as its from alpari UK .

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Quoting Pavatar

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Hi Bill -

I feel a bit like the freshman offering an explanation to the professor! If I understand your question concerning the "2 resets", let me offer my understanding of that parameter based on using the EA and studying the results.

When the parameter in saaedb's EA is set to 2, the following happens. If your first trade is triggered and the TP is hit then the initial Sell Stop order (lets call this SL1) is closed and your trading day is over.

If your first trade is triggered but the SL is hit then a second Sell Stop (lets call this SL2) is immediately placed. The EA closes all trades when the second trade is triggered and SL2 is hit or TP is hit = your trading day is over.

The bottom line for how the EA works (in studing my trades) is that when the EA reset parameter is set to '2', it only does '1' reset resulting in a maximum of 2 trades (1 TP or 2 SL's) before all trades are closed and the EA's trading day is over. As you have said many times in your posts - if you follow Nicotina's rules, your trade day ends with 1 win (+100 pips) or 2 losses (-100 pips). With the reset parameter set to '2' (and the other parameters set according to Nicotina's rules), the EA executes beautifully and I'm sure Nicotina is pleased.

I've traded with the reset parameter = 1 as a learning experience. In these trades, there were no resets. When your first trade is triggered and hits either TP or SL, all trades are closed and the EA's trading day is over.

Intuitively it seems the reset parameter should be '1' (= 1 reset) or '0' (= 0 resets). I'm not a programmer but maybe it has something to do with how the program has to be written?

If I've missed your point 'Professor Bill', this 'freshman' apologises!

I greatly appreciate your tremendous input/insight into the thread. Glad to see you finally 'declared victory' (post #1408) on the time issue and let your countless posts in this tread serve as an educational tool - folks need to read the entire thread to appreciate and understand the development of this strategy, the EA, etc. - no matter how long the thread is!

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Quoting Pavatar

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These results are for Tuesday thru Friday.

All trades were done using saaedb's EA.

SL 0 or TP 0 simply means the Sell Stop or Buy Stop order was not triggered. SL1 = first SL hit, SL2 = second SL hit

Monday (I did not trade)

Tuesday (12/11/2007)
GBPJPY +50 (SL#1 -50, TP +100)
EURJPY 0 (SL1 -50, TP +50)
GBPUSD +40 (SL 0, TP +40)

Wednesday
GBPJPY +50 (SL 0, TP +50) (TP was reduced to 50 because of the large hi/lo spread)
EURJPY +50 (SL 0, TP +50)
GBPUSD +40

Thursday
GBPJPY +100 (SL 0, TP +100)
EURJPY + 50 (SL 0, TP +50)
GBPUSD - 40 (SL1 -20, SL2 -20)(EA entered 6 trades total! 2 were really odd numbers; have no explanation)

Black Friday
GBPJPY -100 (SL1 -50, SL2 -50)
EURJPY -100 (SL1 -50, SL2 -50)
GBPUSD - 40 (SL1 -20, SL2 -20)

Weekly Total
GBPJPY +100
EURJPY 0
GBPUSD 0

Except for entering the parameters for each pair, all trades were executed using the EA.

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Quoting Templar

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Hello everyone,

A question please. Last night my short hit SL so I re-entered my short as per the rules.

Since then the market hasn't moved much and my longs and shorts are still open. The rules say to close existing orders at the end of the day. Since it's Friday does the end of the day mean today when the market closes or Sunday @ 800 EST when I would place new orders? Which would mean my orders on a 24hr deadline would need extended.

Thanks for your help!

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Closes orders manually only at the end of the day (18:00 GTM).

Quoting saaedb

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You probably have your RangeEnd and RangeStart parameters set incorrectly. Read Bills post on the time issues and set them correctly.

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Quoting billbss

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From post #1



1800 GMT is less than an hour from now.

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Quoting Maxymylyan

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i find in this that Nikotina system works poorly on friday (based on past week and this week) so i only trade on tue, wed and thursday.
Overall this Nikotina is the best. You can relax

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Quoting saaedb

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I dont know what settings you're using for EURJPY and GBPUSD. But here are the results for my Friday. All trades were done by the EA.

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Quoting endy

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Hi, would you please post your settings for EURJPY (SL/TP, range) pair ?

Thanks a lot.

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Quoting endy

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Hi, would you please post your settings for EURJPY (SL/TP, range) pair ?

Thanks a lot.

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Quoting Maxymylyan

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Because the risk is so scary. Here's my revised semi martingale strategy.

trade 1. 1 lot
trade 2. 1.5 lot
trade 3. 2.25 lot
trade 4. 3.38 lot
trade 5. 5.07 lot
trade 6. 7.61 lot
trade 7. 11.42 lot
trade 8. 25. 70 lot
trade 9. 38.55 lot
trade 10 56.83 lot

if i lose again I'm completely screwed.. If i finally win, i gain 100 pips and "phew! but this nikotina stuff sucks!"

i find in this that Nikotina system works poorly on friday (based on past week and this week) so i only trade on tue, wed and thursday.
Overall this Nikotina is the best. You can relax

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