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"The Pip Nailer". Any time frame, any pair

  • #141
  • Jan 16, 2008 4:18pm Jan 16, 2008 4:18pm
Flying Fish,

Yes, that's the exact spot I was talking about. I never knew that all three indicators must change at the same time. I thought if the SAR changed and both AC and AO candle color are corresponding to the SAR direction, it is good to go on the next opening candle. My apologies... It is no way that anyone can watch the monitor every minute for 8 hours or 16 hours to wait for all three indicators to change at the exactly same time. That's why we need the EA as it is impossible to trade that way manually. Is that correct?

Thanks
  • #142
  • Jan 16, 2008 4:23pm Jan 16, 2008 4:23pm
Quoting Flying Fish
This is correct. The rules state to enter at the close of the nailed candle, i.e. at the start of the next candle.

The EA enters at the open (start) of the next candle.
Ok, thanks Flying Fish. Just wondering if you could add a tolerance option, what I mean is to have an option to still initiate the trade if all indicators agree still within 1-2 bars only. See attached. Missed a good trade by 1 bar because SAR was late by 1 bar
Attached Image (click to enlarge)
Click to Enlarge Name: PN2.JPG Size: 78 KB
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #143
  • Jan 16, 2008 4:24pm Jan 16, 2008 4:24pm
Quoting FXHOUND
Flying Fish,

Yes, that's the exact spot I was talking about. I never knew that all three indicators must change at the same time. I thought if the SAR changed and both AC and AO candle color are corresponding to the SAR direction, it is good to go on the next opening candle. My apologies... It is no way that anyone can watch the monitor every minute for 8 hours or 16 hours to wait for all three indicators to change at the exactly same time. That's why we need the EA as it is impossible to trade that way manually. Is that correct?

Thanks
Well, I sure don't want to be monitoring it every hour or whatever time frame you choose, so I wrote the EA.

Best,
Flying Fish
  • #144
  • Jan 16, 2008 4:28pm Jan 16, 2008 4:28pm
Quoting matrixebiz
Ok, thanks Flying Fish. Just wondering if you could add a tolerance option, what I mean is to have an option to still initiate the trade if all indicators agree still within 1-2 bars only. See attached. Missed a good trade by 1 bar because SAR was late by 1 bar
LOL, yes a lot of trades seem to slip by within one or two bars, but how many bad trades did we avoid because of this?

Best,
Flying Fish
  • #145
  • Jan 16, 2008 4:32pm Jan 16, 2008 4:32pm
Quoting FXHOUND
Flying Fish,

Yes, that's the exact spot I was talking about. I never knew that all three indicators must change at the same time. I thought if the SAR changed and both AC and AO candle color are corresponding to the SAR direction, it is good to go on the next opening candle. My apologies... It is no way that anyone can watch the monitor every minute for 8 hours or 16 hours to wait for all three indicators to change at the exactly same time. That's why we need the EA as it is impossible to trade that way manually. Is that correct?

Thanks
LOL, unless you're a full time trader.
  • #146
  • Jan 16, 2008 4:32pm Jan 16, 2008 4:32pm
Quoting Flying Fish
LOL, yes a lot of trades seem to slip by within one or two bars, but how many bad trades did we avoid because of this?

Best,
Flying Fish
I don't know, I'll have to look back at the charts. If you think this option will hurt us more then help us then we'll leave well enough alone Just thought it might be an option if we wanted to test it if it wasn't to hard for you to add in the code. Thanks
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #147
  • Jan 16, 2008 4:34pm Jan 16, 2008 4:34pm
Quoting Flying Fish
LOL, yes a lot of trades seem to slip by within one or two bars, but how many bad trades did we avoid because of this?

Best,
Flying Fish
Believe me guys, when I was developing this system I tested so many different iterations. The conclusion I came to is, if we were to take trades such as these, where we miss by a candle or two, then you will end up losing pips in the long run. The false signals will override any winners you'd get.

Stick to the rules guys, trust me.
  • #148
  • Jan 16, 2008 4:35pm Jan 16, 2008 4:35pm
Quoting forexmoments
Believe me guys, when I was developing this system I tested so many different iterations. The conclusion I came to is, if we were to take trades such as these, where we miss by a candle or two, then you will end up losing pips in the long run. The false signals will override any winners you'd get.

Stick to the rules guys, trust me.
Ok no problem Thank you for the system
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #149
  • Jan 16, 2008 4:49pm Jan 16, 2008 4:49pm
Is anyone trying the M15 charts? I would like to know how the EA is working with it.
Thanks
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #150
  • Jan 16, 2008 6:25pm Jan 16, 2008 6:25pm
Quoting matrixebiz
Is anyone trying the M15 charts? I would like to know how the EA is working with it.
Thanks
Have been trading 15 minute charts - manually, not with the EA.

As Ash said (and this applies to many systems, really), the problem with the shorter time frames is that the spread eats into your profits.

The 4H and daily TFs are great, but you can certainly make money on the 5M and 15M, in my opinion.
  • #151
  • Jan 16, 2008 9:12pm Jan 16, 2008 9:12pm
Matrixebiz from my understanding from previous post, the ea will only work on hourly charts, Quite possibly im wrong, Could flyingfish comment on this

Thanks

Quoting matrixebiz
Is anyone trying the M15 charts? I would like to know how the EA is working with it.
Thanks
  • #152
  • Jan 16, 2008 9:12pm Jan 16, 2008 9:12pm
Flying Fish -

Could you please check the NZD/USD M30 chart on the IBFX platform? I was running the EA and it sold at 0.7689 at 22:30 on 1/16 the stop loss was set at 0.7723 and target at 0.7660. Strangely, the EA closed the trade at 0.7687 for two pips gain at 01:00 on 1/17. Was there a rule in the EA that any trades must be liquidated after a specific amount of running time? I was just wondering why it decided to close the trade at 0.7687?

Thanks!
  • #153
  • Jan 16, 2008 9:54pm Jan 16, 2008 9:54pm
Quoting hefftel
Matrixebiz from my understanding from previous post, the ea will only work on hourly charts, Quite possibly im wrong, Could flyingfish comment on this

Thanks
The EA works on all time frames. Due to the nature of the beast, the spread plays a larger role in lower time frames and therefore may not be practical. If you had fractional pip spreads (such as ECN) then it would be more worthwhile.
  • #154
  • Jan 16, 2008 10:01pm Jan 16, 2008 10:01pm
Quoting FXHOUND
Flying Fish -

Could you please check the NZD/USD M30 chart on the IBFX platform? I was running the EA and it sold at 0.7689 at 22:30 on 1/16 the stop loss was set at 0.7723 and target at 0.7660. Strangely, the EA closed the trade at 0.7687 for two pips gain at 01:00 on 1/17. Was there a rule in the EA that any trades must be liquidated after a specific amount of running time? I was just wondering why it decided to close the trade at 0.7687?

Thanks!
Hi FxHound,

I'm currently away from my platform, so I can't comment specifically on your trade. I'll cover the two exit possibilities: One, either the SL or TP is hit, that's pretty straight forward. The other exit is when both the AO and the AC change colors from the entry color, but it doesn't have to occur at the same candle. See further up when I asked this question to ForexMoments and he covered it for me (which lead to the v1.1 program).
  • #155
  • Jan 16, 2008 10:34pm Jan 16, 2008 10:34pm
I noticed that MagicNumber is int. How does it handle multiple currencies on the same platform? Should I make MagicNumber extern to be able to change for each currency I run it on?
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #156
  • Jan 16, 2008 10:46pm Jan 16, 2008 10:46pm
You probably should do that.

A different magic number for each chart pretty much.
  • #157
  • Jan 16, 2008 11:03pm Jan 16, 2008 11:03pm
Quoting matrixebiz
I noticed that MagicNumber is int. How does it handle multiple currencies on the same platform? Should I make MagicNumber extern to be able to change for each currency I run it on?
The program checks to see that the symbol (currency) matches along with the magic number. So running different symbols on the same platform is okay. What *won't* work is running the same currency on two (or more) different time frames at the same time. That would require a change to magic. It's easily fixed since you have the source code, however if there is a big enough demand I could make the change on the next update.
  • #158
  • Edited 11:38pm Jan 16, 2008 11:17pm | Edited 11:38pm
Quoting Flying Fish
The program checks to see that the symbol (currency) matches along with the magic number. So running different symbols on the same platform is okay. What *won't* work is running the same currency on two (or more) different time frames at the same time. That would require a change to magic. It's easily fixed since you have the source code, however if there is a big enough demand I could make the change on the next update.

Whoops, my bad. What I said above is my normal style, however in this case, the EA will only open one trade at a time and it remembers that ticket number, however....

Very Important
If you turn your computer off, lose power, or even just change time frames while a trade is open, the EA will forget it has a ticket open. Since SL and TP are already set, this isn't too bad, however the second exit as explained above (AO and AC changing color) will no longer work.

- - - Edit, added below - - -
You can use the EA on any chart you have open, even multiple time frames are okay - just don't switch the charts time frame if that chart has an open trade. I hope that is clear?
  • #159
  • Jan 17, 2008 6:30am Jan 17, 2008 6:30am
Quoting Flying Fish
the EA will only open one trade at a time and it remembers that ticket number
Ok, and you mean I trade per currency, correct?
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #160
  • Jan 17, 2008 7:09am Jan 17, 2008 7:09am
The reason for the problem with the EA might came from the fact that few brokers allow only 1/10 steps of lot size.
In this case if the calculation will give 0.12 lot the order will be denied.
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