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

  • #201
  • Jan 21, 2008 2:34pm Jan 21, 2008 2:34pm
Quoting rathcoole
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 ?
In actual fact Rathcoole, you are not far off.

The Pip Nailer will actually work best for Daily charts. The problem is there are not many signals for D1!
  • #202
  • Jan 21, 2008 2:36pm Jan 21, 2008 2:36pm
Quoting rathcoole
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
I know there are many people who love Heiken Ashi, but I find that it doesn't fit my personality.

But thanks for the detailed info my friend, maybe you can keep forward testing it for a few weeks and see how things pan out.
  • #203
  • Jan 21, 2008 2:38pm Jan 21, 2008 2:38pm
Quoting Ronald Raygun
Metatrader only takes up about 50mb. Just don't do any backtesting, THAT's what's data-intensive.
Yep, plus the fact that backtesting is crap anyway.
  • #204
  • Jan 21, 2008 2:41pm Jan 21, 2008 2:41pm
Quoting BenScoobert
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
LOL nice one mate, but 12 pips is more than the actual system accounted for.
  • #205
  • Jan 21, 2008 3:15pm Jan 21, 2008 3:15pm
Quoting forexmoments
LOL nice one mate, but 12 pips is more than the actual system accounted for.
I'm not actually sure what the system should have taken.

I am clear on what a signal is.

What I don't quite get is how much it buys and why or when it exits.

Could anyone be so kind as to explain this in simpleton terms?
IS there anyone else who doesn't understand that bit or is it just me being very newb?
  • #206
  • Jan 21, 2008 4:56pm Jan 21, 2008 4:56pm
Quoting BenScoobert
I'm not actually sure what the system should have taken.

I am clear on what a signal is.

What I don't quite get is how much it buys and why or when it exits.

Could anyone be so kind as to explain this in simpleton terms?
IS there anyone else who doesn't understand that bit or is it just me being very newb?
Sorry I am mistaken... 12 pips was the correct profit. Well done mate.
  • #207
  • Jan 21, 2008 5:07pm Jan 21, 2008 5:07pm
Quoting BenScoobert
I'm not actually sure what the system should have taken.

I am clear on what a signal is.

What I don't quite get is how much it buys and why or when it exits.

Could anyone be so kind as to explain this in simpleton terms?
IS there anyone else who doesn't understand that bit or is it just me being very newb?
Ok, just to clarify.

The amount of pips that you want to Take Profit at, is the same number of pips as the difference between the High and the Close of the "Nailed Candle". So, your Stop Loss would be at the very top of the Nailed Candle.

Hence, if your SL is 12 pips, your TP would also be 12 pips.

Is this any clearer?

Don't worry about asking as many questions until you feel satisfied. Maybe some others can help explain as well, because sometimes I'm not the most detailed in my explanations!
  • #208
  • Jan 21, 2008 7:13pm Jan 21, 2008 7:13pm
Quoting dan_mir
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
Hayseed created an indicator that I believe does alerts. Check the earlier posts please.
  • #209
  • Jan 21, 2008 7:16pm Jan 21, 2008 7:16pm
Quoting BenScoobert
I'm not actually sure what the system should have taken.

I am clear on what a signal is.

What I don't quite get is how much it buys and why or when it exits.

Could anyone be so kind as to explain this in simpleton terms?
IS there anyone else who doesn't understand that bit or is it just me being very newb?
RiskPercent specifies how much of your account balance you wish to risk per trade (default 0.02 = 2%).

Exits are when the trade either hits TP or SL, or if both AO and AC change to the opposite of the entry color (not necessarily at the same time).
  • #210
  • Jan 21, 2008 7:25pm Jan 21, 2008 7:25pm
pip_bagger


Thanks for responding to my question. makes good sense.

as a follow up to you and everyone else. Is anyone actually applying this to the daily or 4 hour time frames? what are your thoughts on it.

By the way, the EURUSD on the daily would have been a winner today.

I ask these questions because of the possibilites of this sytem could take once a day or 6 times a day to check a chart for making trades. that is nice when dealing with day job, sleep, and enjoying life too.
  • #211
  • Jan 21, 2008 7:40pm Jan 21, 2008 7:40pm
Quoting Trader4Life
pip_bagger


Thanks for responding to my question. makes good sense.

as a follow up to you and everyone else. Is anyone actually applying this to the daily or 4 hour time frames? what are your thoughts on it.

By the way, the EURUSD on the daily would have been a winner today.

I ask these questions because of the possibilites of this sytem could take once a day or 6 times a day to check a chart for making trades. that is nice when dealing with day job, sleep, and enjoying life too.
No problem, Trader.

The signals on the longer time frame charts are quite good. I really only look at 1hr and above now.

I haven't seen a system that doesn't have losses (well that isn't entirely true), but this system is good because:

1. It is simple.
2. You can pick any time frame that suits you.
3. There are few signals.
4. It is simple.
5. The winning % is pretty good.
6. It is simple.

You can change it so that it trades more often and all of that (and I think Ash has hinted that he originally did this as well), but in the end if you are looking to trade to make money (and not trade for entertainment), then adopting a winning system that signals very few trades should be ok.
  • #212
  • Jan 22, 2008 1:38am Jan 22, 2008 1:38am
I let it run automated last night justout of curiosity on a demo acc
M15 M30 H1 and D1, heres the result

737232382008.01.22 06:45sell1.73audusd0.85590.85740.85492008.01.22 06:470.85740.000.000.00-259.50
737093592008.01.22 05:46sell1.33usdchf1.10861.11041.10722008.01.22 06:551.11040.000.000.00-215.60
737003492008.01.22 05:00sell0.93gbpchf2.15302.15592.15102008.01.22 06:042.15100.000.000.00167.74
736941352008.01.22 04:30sell0.42gbpusd1.93841.94291.93432008.01.22 06:001.94030.000.000.00-79.80
736686922008.01.22 02:00buy0.10usdjpy106.17105.84106.472008.01.22 02:30106.470.000.000.0028.18
736686822008.01.22 02:00buy1.91eurgbp0.74370.74290.74422008.01.22 02:280.74290.000.000.00-296.87
736684912008.01.22 02:00buy0.69eurusd1.44461.44171.44732008.01.22 04:441.44170.000.000.00-200.10
736684042008.01.22 02:00sell1.58usdchf1.10951.11121.10822008.01.22 06:211.10820.000.000.00185.35
736683032008.01.22 02:00buy0.21gbpjpy206.25205.20207.212008.01.22 04:27205.200.000.000.00-208.18
736637262008.01.22 01:45buy0.76gbpusd1.94331.94051.94572008.01.22 02:141.94050.000.000.00-212.80
736586942008.01.22 01:30buy1.84eurchf1.60211.60061.60322008.01.22 01:461.60320.000.000.00182.46
736224432008.01.21 23:00buy0.49euraud1.68161.67641.68602008.01.22 01:191.67640.000.000.00-218.95
  • #213
  • Jan 22, 2008 1:42pm Jan 22, 2008 1:42pm
Quoting Trader4Life

By the way, the EURUSD on the daily would have been a winner today.
Dailys are the best for trading this system.
  • #214
  • Jan 22, 2008 1:46pm Jan 22, 2008 1:46pm
Quoting BenScoobert
I let it run automated last night justout of curiosity on a demo acc
M15 M30 H1 and D1, heres the result

737232382008.01.22 06:45sell1.73audusd0.85590.85740.85492008.01.22 06:470.85740.000.000.00-259.50
737093592008.01.22 05:46sell1.33usdchf1.10861.11041.10722008.01.22 06:551.11040.000.000.00-215.60
737003492008.01.22 05:00sell0.93gbpchf2.15302.15592.15102008.01.22 06:042.15100.000.000.00167.74
736941352008.01.22 04:30sell0.42gbpusd1.93841.94291.93432008.01.22 06:001.94030.000.000.00-79.80
736686922008.01.22 02:00buy0.10usdjpy106.17105.84106.472008.01.22 02:30106.470.000.000.0028.18
736686822008.01.22 02:00buy1.91eurgbp0.74370.74290.74422008.01.22 02:280.74290.000.000.00-296.87
736684912008.01.22 02:00buy0.69eurusd1.44461.44171.44732008.01.22 04:441.44170.000.000.00-200.10
736684042008.01.22 02:00sell1.58usdchf1.10951.11121.10822008.01.22 06:211.10820.000.000.00185.35
736683032008.01.22 02:00buy0.21gbpjpy206.25205.20207.212008.01.22 04:27205.200.000.000.00-208.18
736637262008.01.22 01:45buy0.76gbpusd1.94331.94051.94572008.01.22 02:141.94050.000.000.00-212.80
736586942008.01.22 01:30buy1.84eurchf1.60211.60061.60322008.01.22 01:461.60320.000.000.00182.46
736224432008.01.21 23:00buy0.49euraud1.68161.67641.68602008.01.22 01:191.67640.000.000.00-218.95
No surprise there my friend. News spikes, low volatilities are a major reason for this.

The ONLY timeframe I would advise trading with the EA 24/7, would be the Daily. (And above if you so wish).

Else the EA needs manual intervention for anything below.
  • #215
  • Jan 22, 2008 1:46pm Jan 22, 2008 1:46pm
Quoting pip_bagger
No problem, Trader.

The signals on the longer time frame charts are quite good. I really only look at 1hr and above now.

I haven't seen a system that doesn't have losses (well that isn't entirely true), but this system is good because:

1. It is simple.
2. You can pick any time frame that suits you.
3. There are few signals.
4. It is simple.
5. The winning % is pretty good.
6. It is simple.

You can change it so that it trades more often and all of that (and I think Ash has hinted that he originally did this as well), but in the end if you are looking to trade to make money (and not trade for entertainment), then adopting a winning system that signals very few trades should be ok.
Excellent post my friend.

This is what I have been saying all along.
  • #216
  • Jan 22, 2008 2:12pm Jan 22, 2008 2:12pm
Quoting pip_bagger

I haven't seen a system that doesn't have losses (well that isn't entirely true)
Now you can't say that much and not spill the beans..............
  • #217
  • Edited 3:15pm Jan 22, 2008 3:04pm | Edited 3:15pm
Quoting forexmoments
No surprise there my friend. News spikes, low volatilities are a major reason for this.

The ONLY timeframe I would advise trading with the EA 24/7, would be the Daily. (And above if you so wish).

Else the EA needs manual intervention for anything below.
Yes you are right, just thought id pop it on for risk free forward testing.
The backtesting feature of mt4 only seems to see a trade once a flood, it must use a different system.

Ive left it auto trading on H4 D1 and weekly. Lets see where it does or doesn't go.
  • #218
  • Jan 22, 2008 4:51pm Jan 22, 2008 4:51pm
Quoting BenScoobert
Now you can't say that much and not spill the beans..............
LOL, yeah pip_bagger - give over!
  • #219
  • Jan 22, 2008 8:19pm Jan 22, 2008 8:19pm
Hi Forex,

I just came across your thread and I think it is a very good thread. Would you mind telling me what pairs you look at?

Thank You,
Jeff

Quoting forexmoments
Dailys are the best for trading this system.
  • #220
  • Jan 23, 2008 6:28am Jan 23, 2008 6:28am
Quoting forexmoments
LOL, yeah pip_bagger - give over!
I was sort of hoping that comment might squeak by......

Well, honestly, the system I am thinking of doesn't take losses - it will simply blow up your account every 18 to 24 months. That, in essence, would be a loss.

So...... I suppose there is no free lunch.
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