PipNick's Rules:
Attached Image (click to enlarge)
- #1,423
- Jan 2, 2008 9:46pm Jan 2, 2008 9:46pm
- | Commercial User | Joined Apr 2007 | 8,331 Posts
can anyone tell me when I load this DAILY95 Pips ex4 file into experts and the reboot MT4 why the little guy with the hat is gray instead of in color? Yes, I checked "Allow Live Trading"
Warren
Also, on your MT4 platform, go through Tools\Options\Expert Advisors and make sure 'Allow live trading; is selected there as well. If this is not selected, the little guy can grin to international standards, but he still won't actually do anything,
- #1,428
- Jan 3, 2008 2:34pm Jan 3, 2008 2:34pm
Hey guys,
must say that i am fond of the "daily95pis" strategy as it suits my trading style, so many thanks to Mike for posting it!
As I read before Mike, you are currently using North Finance for EA. How come that you switched from Oanda, where is the reason (easier, better performance,..)?
thanks in advance
T
Oanda does not support the use of Expert Advisors, so I switched to North Finance which is an MT4 broker in order to automate the trading of this system.
rgs
mike
- #1,429
- Jan 3, 2008 2:46pm Jan 3, 2008 2:46pm
GBP/USD = +95
EUR/JPY = +95
I didn't place trades yesterday, I'm not sure how we should treat bank hol closures with a 24hr look back. I see it was a loser from Mike's results and it may be best to ignore - something to keep an eye on I think?
Lets hope Mikes results line up with mine today.
I will try and add the EUR/USD in future if I get time.
happy new year all.
PipNick,
I'm wondering if adding EURUSD was a good idea. I'm tempted to axe both EU from the PipNick list and UJ from the D95P list to be left with 2 pairs each. Will decide within the coming weeks.
rgs
mike
PipNick,
I'm wondering if adding EURUSD was a good idea. I'm tempted to axe both EU from the PipNick list and UJ from the D95P list to be left with 2 pairs each. Will decide within the coming weeks.
rgs
mike
I'm not really sure, I am just sticking to the 2 because of time constraints. I have a day job so I don't have the time to place orders for, or monitor too many pairs. This is the reason your system is so great for me.
If you have them set up on an EA and its not much effort, may as well leave them be. As long as the data is recorded you can assess the profitability in the future, as you have done in the past e.g. you eliminated GBP/USD previously.
It would be nice to get in to a position where all pairs have been tested over a period for profitablity. Possibly with different params to find the optimum. This is nirvana though. As I am only aiming for an average 15 pips a day, 2 pairs is also good enough for the time being.
Cheers
Nick
- #1,432
- Jan 4, 2008 3:36am Jan 4, 2008 3:36am
Thanks for prompt answer!
I know all this. Is your performance also better/different if you follow an EA, or with N.F. platform? I mean "daily95pips" takes only aprox. 10 minutes to put all trades in and thats it (fast enough for me, as i than need to do my other 9-5 job that i like)
It's your call which approach you'd like to take. If your preference is to trade manually you can consider that PipNick for example is successfully trading 2 pairs manually.
rgs
mike
- #1,433
- Jan 4, 2008 3:41am Jan 4, 2008 3:41am
Hi,PipNick,
how do you setting " OrderExpirationHours"? I set it to 18, is it ok?
==================================================
Results(1.5days, All Pairs, PipNick's Rules, OrderExpirationHours=18)
18 is fine. The original setting was 17, however the main purpose is to simply prevent orders being triggered soon before the new orders are due to be placed for the new session..that's all.
rgs
mike
- #1,437
- Jan 4, 2008 10:14am Jan 4, 2008 10:14am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
A question for the more experienced traders here.
Trading live, I would have deleted all the pending orders at least 3 hours before today's NFP release.
Being on demo, I left them all open to see what happened. This resulted in a 70 eu pips (I closed the third order when the spike looked like reversing).
So my question; was leaving the pendings in place a sensible idea, or did benefit purely from dumb luck?
Cheers
Trading live, I would have deleted all the pending orders at least 3 hours before today's NFP release.
Being on demo, I left them all open to see what happened. This resulted in a 70 eu pips (I closed the third order when the spike looked like reversing).
So my question; was leaving the pendings in place a sensible idea, or did benefit purely from dumb luck?
Cheers
Hi,
I just want to publish my results for friday 04-jan-2008
AUDUSD +65
EURCHF -90
EURGBP +79
EURJPY +82
EURUSD +15
GBPJPY +45
GBPUSD +102
USDJPY +15
Total: +293 pips
For GBPUSD I use PipNick's settings and for the rest of pairs I use Mike's settings for the EA Daily95Pips Reverse (IBFX Fall version).
Thanks Mike! great system!
One question: do you open trades today? (friday)
Regards!
Christancho
I just want to publish my results for friday 04-jan-2008
AUDUSD +65
EURCHF -90
EURGBP +79
EURJPY +82
EURUSD +15
GBPJPY +45
GBPUSD +102
USDJPY +15
Total: +293 pips
For GBPUSD I use PipNick's settings and for the rest of pairs I use Mike's settings for the EA Daily95Pips Reverse (IBFX Fall version).
Thanks Mike! great system!
One question: do you open trades today? (friday)
Regards!
Christancho
- #1,440
- Edited Jan 5, 2008 8:47am Jan 4, 2008 1:35pm | Edited Jan 5, 2008 8:47am
A question for the more experienced traders here.
Trading live, I would have deleted all the pending orders at least 3 hours before today's NFP release.
Being on demo, I left them all open to see what happened. This resulted in a 70 eu pips (I closed the third order when the spike looked like reversing).
So my question; was leaving the pendings in place a sensible idea, or did benefit purely from dumb luck?
Cheers
NFP of course means volitility. From my observations, this often involves a strong move in one direction, followed by retracing back. Look at EU today - it jumped 100 pips one way and retraced back 40+. Using this observation, I am trading NFP in this fashion.
1. If I cannot be at the computer during the announcement, I will just skip this day or close everything before the announcements.
2. Unless I have a strong feeling on what the initial move is going to be, I close any orders that are open. If I do have that feeling, then I will close any open orders that contradict that feeling.
3. For unopened orders, I will monitor those closely and watch for the orders being opened. When a set of trades are opened, I watch for that intial move to 'stall out' and then I close everything that did not hit the TP as quick as I can.
To answer your question - did you feel the market was going to move in your favor? If so - then you were prudent - if not - luck.
Me - I was on the sidelines this morning...
Tim
One nasty thing I did forget to add - gaps. Although it is not too common, with very volitle news event there can be a gap in price. The market instantly jumps say 100 pips or more. Since the market never hit your price point, your sl, tp, entry price you entered into the computer cannot be honored. Instead, you will get the price AFTER the gap. For example, if you had an open order that was at break even with a 30 pip stop loss and the market jumped 100 pips against you, you would get stopped out at a 100 pip loss, not the 30 pip you anticipated. Just something to be aware of...