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

  • #181
  • Jan 19, 2008 1:56pm Jan 19, 2008 1:56pm
forex momements --- these folks are trying to program an ea off the system
and really are interested in contributions... your feedback is beyond the scope. I mean,,,,
--- don't trust backtesting? Really? I guess these folks were planning on using live money-- 10 full 1-1 leverage lots out of the gate.
--- Trading news? Outside of NFP, the ea they design should be able to handle it.
--- Really forex isnt easy? Wow that's a revelation.
---- using an ea out of the gate 24 hours is impossible because of dead markets? What are you smoking with that statement? I know of at least 2 good way around it and there are probably a dozen that I have not grasped.. Granted, you have identified the weakness of this ea as in its present form as it is missing 3-4 conceptual items (as most forum eas do). I however, picked up at least 1 programming feature that has stumped me so I think this is an overall success. Geez, let these folks live in piece and develop some ideas.
And yes folks, you can trade a 15 mn time frame. Its not that impossible~!
  • #182
  • Jan 19, 2008 2:18pm Jan 19, 2008 2:18pm
Quoting 4XWeezal
forex momements --- these folks are trying to program an ea off the system
and really are interested in contributions... your feedback is beyond the scope. I mean,,,,
--- don't trust backtesting? Really? I guess these folks were planning on using live money-- 10 full 1-1 leverage lots out of the gate.
--- Trading news? Outside of NFP, the ea they design should be able to handle it.
--- Really forex isnt easy? Wow that's a revelation.
---- using an ea out of the gate 24 hours is impossible because of dead markets? What are you smoking with that statement? I know of at least 2 good way around it and there are probably a dozen that I have not grasped.. Granted, you have identified the weakness of this ea as in its present form as it is missing 3-4 conceptual items (as most forum eas do). I however, picked up at least 1 programming feature that has stumped me so I think this is an overall success. Geez, let these folks live in piece and develop some ideas.
And yes folks, you can trade a 15 mn time frame. Its not that impossible~!
I was just explaining the reasons behind why the EA will not perform to some peoples expectations. Also, I was referring to using a demo account to forward test, so cut the sarcasm my friend. I'm in no way shape or form disputing anyone's efforts or contributions in the forum. The reason why I mentioned the 24/7 thing is because it's true. I designed the system, so I know what I'm talking about. I was talking about the LOWER timeframes (yes including the 15min timeframe).
  • #183
  • Jan 19, 2008 2:21pm Jan 19, 2008 2:21pm
Quoting 4XWeezal
--- Trading news? Outside of NFP, the ea they design should be able to handle it.
I stress again, I doubt that my system will handle it. So if the EA is designed strictly adhering to my rules, then you're in for a rough ride if trading news with it.

But if everyone here can help improve the system so that it can withstand news reports, I'm all for it!
  • #184
  • Jan 19, 2008 5:41pm Jan 19, 2008 5:41pm
Quoting PipGoddess


Flying Fish - even though I downloaded v1.2 all I have under Inputs for the EA is RiskPercent. No SL,TP, Fixed lots etc.

What am I missing?

Thanks so much for all efforts with this..............and a big Thank You Ash for sharing!

Sue
PipGoddess,

SL and TP are determined by the rules of the system, you do not enter them yourself. The new version does allow for fixed lots however, so if you downloaded 1.2, remember to compile it before use.

-Flying Fish
  • #185
  • Jan 19, 2008 5:56pm Jan 19, 2008 5:56pm
Quoting forexmoments
I stress again, I doubt that my system will handle it. So if the EA is designed strictly adhering to my rules, then you're in for a rough ride if trading news with it.

But if everyone here can help improve the system so that it can withstand news reports, I'm all for it!
As the EA programmer, I should probably say something but Ash has already said it all.

I'm all for improvement as well, so if Ash were to amend his rules based on input from this group then I'll do the same for the EA. However, I will not be changing things around on the whim of every Tom, Dick, or Harry who comes by and wants to plug in their favorite indicator.

If you have an idea, and you've done your research, then by all means present it to the group.

Thanks,
Flying Fish
  • #186
  • Jan 19, 2008 7:09pm Jan 19, 2008 7:09pm
Quoting Flying Fish
I'm all for improvement as well, so if Ash were to amend his rules based on input from this group then I'll do the same for the EA. However, I will not be changing things around on the whim of every Tom, Dick, or Harry who comes by and wants to plug in their favorite indicator.

If you have an idea, and you've done your research, then by all means present it to the group.

Thanks,
Flying Fish
Couldn't have said it better myself.
  • #187
  • Jan 20, 2008 6:26am Jan 20, 2008 6:26am
Quoting Trader4Life
I just started putting the charts up and noticed on the daily for the EURUSD on 1/17/08 a short signal appeared. now, its 30 pips into the trade. Please confirm if I have identified the trade entry correctly. If so, would this be too late and cosidered chasing it? Also, what kind of stop loss would one use with the daily chart? the signal came after a long candle.


Trader4life
Hi Trader4Life:

I think that it is quite clear - Ash states that his system is designed to enter on the open of the bar after the signal bar (and sometimes entering just as the signal bar is closing, as sometimes the bar after the signal bar might gap open or run up, or down, quite quickly).

I sometimes wait for a small retracement on the bar after the signal bar, but that is just my style - not Ash's system.

I would recommend that you enter on the open of the bar after the signal bar, as this will approximate how Ash (presumably) tested and trades his system.

Personally, myself, I don't mind delaying a trade, waiting for a retracement on the bar after the signal bar, but you won't always get a retracement. In fact, for some of the best trades (profit target is hit quickly and easily) you will see that there is no retracement on the bar after the signal bar.

Ash may have some insight for us.......I wonder if he has a feeling for which trades are more likely to be successful, those that run away from entry on the bar after the signal bar, or those that retrace a bit before running in the expected direction. It may be that the signals that have a bit of a retracement are less likely to be profitable....or perhaps it doesn't matter much.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDCAD Daily Signals Pip Nailer.jpg Size: 64 KB
Click to Enlarge Name: GBPUSD Monthly Signal Pip Nailer.jpg Size: 54 KB
  • #188
  • Jan 20, 2008 1:51pm Jan 20, 2008 1:51pm
Quoting pip_bagger
Hi Trader4Life:

I think that it is quite clear - Ash states that his system is designed to enter on the open of the bar after the signal bar (and sometimes entering just as the signal bar is closing, as sometimes the bar after the signal bar might gap open or run up, or down, quite quickly).

I sometimes wait for a small retracement on the bar after the signal bar, but that is just my style - not Ash's system.

I would recommend that you enter on the open of the bar after the signal bar, as this will approximate how Ash (presumably) tested and trades his system.

Personally, myself, I don't mind delaying a trade, waiting for a retracement on the bar after the signal bar, but you won't always get a retracement. In fact, for some of the best trades (profit target is hit quickly and easily) you will see that there is no retracement on the bar after the signal bar.

Ash may have some insight for us.......I wonder if he has a feeling for which trades are more likely to be successful, those that run away from entry on the bar after the signal bar, or those that retrace a bit before running in the expected direction. It may be that the signals that have a bit of a retracement are less likely to be profitable....or perhaps it doesn't matter much.
Hey Pip_bagger, thanks for your contribution.

To be honest, I haven't really looked too much into retracements, although I had been considering it some time ago. The main reason why I didn't place too much emphasis on it was because I wanted to create a simple system. However, maybe this is one area that can be researched in the coming weeks.
  • #189
  • Jan 21, 2008 3:36am Jan 21, 2008 3:36am
Hi

Would like to give the system a try. Anyobody know if there are free webbased charts that include both Awesome + Accelerator Osc? Could not find anything on the net

Regards
  • #190
  • Jan 21, 2008 4:01am Jan 21, 2008 4:01am
Quoting nesa1980
Hi

Would like to give the system a try. Anyobody know if there are free webbased charts that include both Awesome + Accelerator Osc? Could not find anything on the net

Regards

Hi Nesa:

Try InterbankFX - here you can get Metatrader and load up the indicators on this post.

http://www.interbankfx.com/Accounts/OpenDemo.aspx
  • #191
  • Jan 21, 2008 4:52am Jan 21, 2008 4:52am
Quoting pip_bagger
Hi Nesa:

Try InterbankFX - here you can get Metatrader and load up the indicators on this post.

http://www.interbankfx.com/Accounts/OpenDemo.aspx
Hi pip_bagger

Was looking into Metatrader, the problem is im at work and dont rlly wana download and install any software. Might try anyway as it seems that there's not rlly much of an alternative.

Cheers!
  • #192
  • Jan 21, 2008 5:24am Jan 21, 2008 5:24am
Install metatrader on a flash drive.
  • #193
  • Jan 21, 2008 5:44am Jan 21, 2008 5:44am
Quoting forexmoments
Yes, absolutely correct, a Nailed Candle is one where all three indicators have to line up on EXACTLY THE SAME CANDLE. If not, then it's simply not a valid entry.

As for trading like pip_bagger mentioned, then I actually tested this method, and found that I got far too many false signals. So to answer your question... with the method that I have specified in my e-book, I am getting around 70% winning trades. I usually trade hourly charts or more, but one can easily apply this as a scalping strategy on the 5 min charts. Just remember it's harder though because you're paying more spread per move. As for how many pips, then I honestly haven't counted, and anyway, it wouldn't bear any significance because i'm never trading the same pair, nor the same timeframe all the time.

It's important that people here get a feel for fundamentals as well, this will help you work out which are more likely to be trending or ranging, thus assisting you in selecting the pair to choose for trading this system.
great stuff, and correct me please someone if I'm wrong, but I've always been led to believe that P-SARS were designed and created to work best off daily charts ? Obvioulsy they're very useful in lower TFs as you have demonstrated, but have you tried this method out on Daily charts ?
  • #194
  • Jan 21, 2008 6:31am Jan 21, 2008 6:31am
Ash, one of the best, helpful & informative threads I've come across, congrats.

may I add my 2 cents worth ? My understanding of P-SARS is that the original use for them is also to act as exit stop-loss points.
In other words, once a long trade starts moving in your favour, you should change from using the low of the signal bar or whatever you use as a Stop-Loss when you initiate the trade, and start ratcheting up your Stop-Loss position to the latest P-SAR pip
A further development of this idea that I have found useful time and time again is, once I'm in the trade I switch my candles to heiken-ashi.
The first time a H-A bar appears of the opposite colour to my trade (ie turns red if I'm long), I stop moving my P-SARS up until the H-As turn back to green and the trend continues.
This stops you getting stopped out by meaningless market noise during consolidation.
The downside is that, if the market does reverse against you, you could maybe have squeezed a few more pips out by having continued to raise your P-SAR stop.
But I have really found that the majority of times, the trend will continue (with you still in it !) to outweigh this risk.
good luck, hope it helps.

here's an example of the H-A/P-SAR Stop Loss "brake" (Okay its the YM, but principle works the same on any chart)
Imagine a Short position taken. The trend descends nicely to "A".
A Stop-Loss is then established using the P-SAR point at "B"
There is then a H-A bar reversal, "C" so you cease moving the stops and let them rest at the most recent point, "B" The market shuffles around for a couple of days but the highs of "D" & "E" don't come anywhere near to stopping you out, allowing you to stay in the move for the resumption of the downward trend. If you had't used the HA bars as a "brake" and continued to move your P-SAR points, you could have been stopped out at "F"
Attached Image
  • #195
  • Jan 21, 2008 6:34am Jan 21, 2008 6:34am
here's another example of the H-A/P-SAR Stop Loss "brake" (Again, its not FX but same same)
Imagine a Long position taken on 30 Nov
The H-As put the brakes on the P-SARs Stops on 18 Dec so the consolidation didn't stop you out and we can continue.
Same thing is happening now. H-As have halted the P-SARs Stop at 482.57 Ok we might get stopped out at that price, or else let's see if we can continue after consolidation.... I find it really interesting
Attached Image
  • #196
  • Jan 21, 2008 7:48am Jan 21, 2008 7:48am
Hi Flying Fish,
I have no experience in coding for MT4. Can you please change the code and create a version that only alerts once the 3 indicators change ?
Thanks,
Dani M
  • #197
  • Jan 21, 2008 8:24am Jan 21, 2008 8:24am
Quoting Flying Fish
PipGoddess,

SL and TP are determined by the rules of the system, you do not enter them yourself. The new version does allow for fixed lots however, so if you downloaded 1.2, remember to compile it before use.

-Flying Fish
Ah -I didn't do that.

Thanks FF.

Sue
  • #198
  • Jan 21, 2008 8:34am Jan 21, 2008 8:34am
Quoting Ronald Raygun
Install metatrader on a flash drive.
Ronald, have you tried this? What minimum size flash do you need?
  • #199
  • Jan 21, 2008 9:25am Jan 21, 2008 9:25am
Metatrader only takes up about 50mb. Just don't do any backtesting, THAT's what's data-intensive.
  • #200
  • Jan 21, 2008 11:18am Jan 21, 2008 11:18am
I left pip nailer running ea fully automated today monitoring 12 currencies on H1. (Demo account)

GBP/USD
1100 GMT I see a nailed candle
and at 1200 GMT entered and bagged me a nice little 12 pips by 1213 GMT
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