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  • #2,761
  • Feb 14, 2008 12:43pm Feb 14, 2008 12:43pm
I would like to clarify a question about SL & TP.

When you put on a trade do you add your spread into your TP....so if i have a 6 pip spread on gj, would I put in 56 for my TP or just use 50?
Also do you do the same for SL and subtract the spread..so I would actually use 44 instead of 50?

I just wonder if that is just being too detailed. Should I even worry about the spread and just put in 50 or 30 depending on the pair and eat the spread in the profits.

Hope that makes sense.
  • #2,762
  • Feb 14, 2008 1:47pm Feb 14, 2008 1:47pm
Hi all. I am trying to attach the EA to my chart as per the normal way and none of the versions appear on my chart. They are in my custom indicators, but won't move across.Any ideas please?
FF journal: Peaks and Troffs
  • #2,763
  • Feb 14, 2008 1:51pm Feb 14, 2008 1:51pm
Quoting bogus
Hi all. I am trying to attach the EA to my chart as per the normal way and none of the versions appear on my chart. They are in my custom indicators, but won't move across.Any ideas please?
If you mean my EA, it needs to be in the Experts folder, not Experts\Indicators. You also need to compile it.

Steps:

1. Put file in C:\Program Files\<MetaTrader Version You Have>\Experts
2. Close and re-open MT4
3. In the Navigator window, find the EA
4. Right Click and say "Modify"
5. In MetaEditor, click Compile
6. Drag EA to your chart
  • #2,764
  • Feb 14, 2008 2:15pm Feb 14, 2008 2:15pm
Thanks. I finally got it. A bit slow this morning. I've never used eas before.I've got the symbol up in the corner of my screen now but not sure what it does. Can you direct me where to learn about EAs. i don't want to block up the thread with newby computer questions.
Quoting TraderGeek
If you mean my EA, it needs to be in the Experts folder, not Experts\Indicators. You also need to compile it.

Steps:

1. Put file in C:\Program Files\<MetaTrader Version You Have>\Experts
2. Close and re-open MT4
3. In the Navigator window, find the EA
4. Right Click and say "Modify"
5. In MetaEditor, click Compile
6. Drag EA to your chart
FF journal: Peaks and Troffs
  • #2,765
  • Feb 14, 2008 3:56pm Feb 14, 2008 3:56pm
Quoting seamonkey
I would like to clarify a question about SL & TP.

When you put on a trade do you add your spread into your TP....so if i have a 6 pip spread on gj, would I put in 56 for my TP or just use 50?
Also do you do the same for SL and subtract the spread..so I would actually use 44 instead of 50?

I just wonder if that is just being too detailed. Should I even worry about the spread and just put in 50 or 30 depending on the pair and eat the spread in the profits.

Hope that makes sense.
Hi SM,

There is no right or wrong here. It just depends on what you want to do. I remember Harold saying, he would add the spread to the tp sl. So if the spread is 3 pips, your tp or sl is 33 pips . I personally include the spread in my tp. 3 pip spread, tp sl is 30 pips. Hope Harold comes back some time soon.
  • #2,766
  • Feb 14, 2008 4:57pm Feb 14, 2008 4:57pm
[quote=TraderGeek;1851665]I just wrote it yesterday so I only have one day of forward testing. Here's what V2 got me last night:

AUDJPY +30
GBPJPY -30 (had the SL on this seto to 30 and I think I need to open it up to 40-50 per the rules)
EURJPY +30
GBPCHF +30
Total: +60
...

In terms of Backtesting, IMO it's garbage. I have never found any EA that backtest the same way it forward tests. There are just too many variables in terms of the data and more importantly, discretion the trader applies while in the trade.
/quote]

Couldn't agree more. Well done on writing the EA. I'm looking forward to trying it out.
  • #2,767
  • Edited Feb 15, 2008 5:33am Feb 14, 2008 5:37pm | Edited Feb 15, 2008 5:33am
Okay I've put together another version incorporating a lot of the stuff that has been discussed both here and in the chat room. Hopefully this will be something approaching a "final" version for a while.

Changes to this version:
- Added verbose parameter so ifyou don't want the text cluttering up your screen you don't have to
- Added ATR based calculation of TP and SL (Bunjow's method)
- Added Ability to not enter trade if Hourly Stoch is above 80 over below 10 (configurable)
- Added paramter to add spread to TP/SL

Complete list of parameters and descriptions:

EA Config Section
CommentString: I use this instead of MagicNumber. I find it easier to separate out trades that way.

SignalMail: EA will email you using your MT4 settings when it opens a trade. If you only want signals and do not want the EA to place trades for you, turn this on and disable "Allow Live Trading"

SignalMailAllSignals: If SignalMail is also true, this means you will get the email for all signals, whether MaxTradesDaily is met or not.

UseHourTrade: if false, will trade whenever EA is active. When true, uses FromHourTrade and ToHourTrade to only open trades between those times GMT. Note this is limited in that it has to be within the same day. So you couldn't do 21GMT - 3GMT for example.

Verbose: Set this to false if you don't want the text on your chart

TradeManagement Section
ATR14StopTP: If this is true, it will use the ATR to calculate the TP and SL. It does this by taking yesterday's Daily ATR and dividing it by ATR14StopTPDivisor (defaulted to 5) to get the TP/SL level. If this is on, the values for TakeProfit and StopLoss will be ignored.

TakeProfit: # of pips to set TP at. Ignored if ATR14StopTP is true.

StopLoss: # of pips to set SL if above is true. Ignored if ATR14StopTP is true.

Lots: Fixed # of lots to trade. I may add some MM later but this is fixed for now.

Slippage: slippage allowed on order. Since we're buying/selling at market this should not matter too much.

MaxTradesDaily: Maximum # of trades to enter on a calendar day. Default is 1. This prevents it from re-entering if TP or SL has been hit and the signal is still valid. If SignalAllEmalsOn is true, you will still get emailed in this situation but the trade won't be entered.

ExitOnChange: If this is true, the EA will exit the open trade immediately if the signal is no longer valid.

EntryOnStochExtremes: If false (default), trade will not be entered if Hourly Stoch is overbought or oversold. The oversold / overbought levels are configurable via the next 2 parameters

AddSpreadToStopTP: If this is true, the spread will be added to the TP / SL levels, whether calculated via ATR or using the parameters.

Indicators section
These should be obvious and are the values used for the different indicators. Someone asked if this uses the Dinaopoli Stoch. It does and you need to have the right version of that indicator installed in order for it to work. It needs to be named "StochasticDiNapoli_v1".
  • #2,768
  • Feb 14, 2008 6:44pm Feb 14, 2008 6:44pm
here are the signals for today (15th, Feb. 2008)

LONG-
GBPJPY, AUDJPY, EURJPY, GBPUSD, CADJPY

Wish you all a happy trading. Will be in the chat room by 7gmt to help out with questions, clarifications, on trades signals.
God's Love For You Is Sure Never You Doubt It
  • #2,769
  • Feb 14, 2008 7:34pm Feb 14, 2008 7:34pm
D lib, Good call on todays signals. Bob
Hej.
  • #2,770
  • Feb 14, 2008 8:43pm Feb 14, 2008 8:43pm
I plan on being in the chat room every time i am trading the close of 6, 7, and 8 (hopefully never have to wait this late for a signal) gmt bar.


TraderGeek - You have and are putting in a lot of work and effort in coding an EA. I hope it works out well for automated trading as it would be nice to make trades when unavailable to be at the computer.

One comment or suggestion about entry relative to Trade Management. Would it be possible to add an input that can be manully changed so we can limit the total length of the signal bar. For example, the AUDJPY signal bar extends 100pips. I would not want to enter at open of next bar. I may enter after a retace to the 5EMA or sit it out.

Or does the ATR play a role that would not require this lenght of signal bar?

Also, do you have the 5 and 8 EMA settings so the 5 is closed and 8 is open value? just double checking.

T4L
  • #2,771
  • Feb 14, 2008 9:03pm Feb 14, 2008 9:03pm
Quoting Trader4Life
TraderGeek - You have and are putting in a lot of work and effort in coding an EA. I hope it works out well for automated trading as it would be nice to make trades when unavailable to be at the computer.

One comment or suggestion about entry relative to Trade Management. Would it be possible to add an input that can be manully changed so we can limit the total length of the signal bar. For example, the AUDJPY signal bar extends 100pips. I would not want to enter at open of next bar. I may enter after a retace to the 5EMA or sit it out.

Or does the ATR play a role that would not require this lenght of signal bar?

Also, do you have the 5 and 8 EMA settings so the 5 is closed and 8 is open value? just double checking.

T4L
Good idea on the length of the bar. I guess the question is we'll have to have a way to identify a bar as "too long". I would imagine it should be based on the ATR so it would vary by pair. Maybe another divsor of the ATR? Interested in your thoughts on this? Or even just for the 6 pairs what you all would consider "too long" and then I can try to come up with an ATR based mechanism that comes close to that. I don't think just using the ATR based Stop/TP levels will accomplish what you want though.

Glad you asked about the 5 and 8. I was going to just say yes because that's how I coded. But I went to look at the code to be sure and I have a bug where the 8 on the hourly was on the close instead of the open. I'll have this fix in the next version but if you want to change it yourself in the meantime, go to line 72 of V4 of the EA and change PRICE_CLOSE to PRICE_OPEN.

I'm working on V5 already so the 8 EMA frix will be there as well as some other stuff that has been requested.
  • #2,772
  • Feb 14, 2008 9:10pm Feb 14, 2008 9:10pm
TraderGeek,

For the too long of a bar that is the signal, i think you should make it an adjustable input value that each individual can put it. this is a personal risk tolerance. For the GBPCHF or GBPUSD, i would say a 100pip signal bar is too much. look at yesterday 6 or 7gmt bar. then the next bar or two. it becomes very imposible to get 30pips.

My recommendation is simply make it a numer the user can input.

one other suggestion or more of a personal request. can the email also capture a picture snapshot and attach to the email, including the stoch and rsi window too? MikeP wrote this and is in the thread, but the stoch and rsi window doesnt show up in the pic.

T4L
  • #2,773
  • Feb 14, 2008 9:17pm Feb 14, 2008 9:17pm
Quoting Trader4Life
TraderGeek,

one other suggestion or more of a personal request. can the email also capture a picture snapshot and attach to the email, including the stoch and rsi window too? MikeP wrote this and is in the thread, but the stoch and rsi window doesnt show up in the pic.
T4L
I'll look at mikep's stuff but right now I'm just using the built in SendMail() function from MQL which does not allow for attachments. But if I get some time I'll look at what he has.
  • #2,774
  • Feb 14, 2008 9:54pm Feb 14, 2008 9:54pm
When we set this up in MT4, do we open both the daily and hourly charts for all six currency pairs in the same window and then attach the EA to all 12 of the charts?
Sorry, I'm an MT4 rookie...
  • #2,775
  • Feb 14, 2008 9:56pm Feb 14, 2008 9:56pm
Quoting cyclone35
When we set this up in MT4, do we open both the daily and hourly charts for all six currency pairs in the same window and then attach the EA to all 12 of the charts?
Sorry, I'm an MT4 rookie...
You could attach it to any time frame because the Daily and Hourly are hardcoded. You just need to attach it to a chart of the pair you want it to trade. Any timeframe you want to look at otherwise. The EA is completely independent of what you see on the chart in terms of indicators, etc.
  • #2,776
  • Feb 15, 2008 1:02am Feb 15, 2008 1:02am
Tradergeek, I am a newcomer, but I applaud your efforts!!! this looks to be a good project! I will be demoing this EA and going live if it looks good... Thanks for your effort!

Mike.
  • #2,777
  • Feb 15, 2008 2:19am Feb 15, 2008 2:19am
Hi TraderGeek

Just a suggestion that may keep a lot of guys out of trouble. I noticed that when u load the EA and the trends are both long (as an example) the EA immediately opens a BUY trade. The problem is that a person can activate the EA when the long trend is coming to an end and therfore end up losing that trade. Is it possible to code the EA so that when activated if both trends are long it would wait for a sell to occur and then open a sell trade. Hope this makes sense and many thanks for your efforts thus far.
  • #2,778
  • Feb 15, 2008 2:50am Feb 15, 2008 2:50am
Quoting fxwealth
Hi TraderGeek

Just a suggestion that may keep a lot of guys out of trouble. I noticed that when u load the EA and the trends are both long (as an example) the EA immediately opens a BUY trade. The problem is that a person can activate the EA when the long trend is coming to an end and therfore end up losing that trade. Is it possible to code the EA so that when activated if both trends are long it would wait for a sell to occur and then open a sell trade. Hope this makes sense and many thanks for your efforts thus far.

i always thought we need a cross before we can enter a trade.

if i trade the KTTM manuelly, i wait for a signal arrow first and from there i m looking for an entry.
But maybee i'm wrong. My performance with this system is not to good, this week 7 loosers and 4 winners
  • #2,779
  • Edited 5:34am Feb 15, 2008 5:11am | Edited 5:34am
Good morning all. Looks like v4 of the EA is not working. Just woke up and saw it had taken no trades. Reverted to v2 but I fear the bus has left the station already.

I'm going to work on the bugs / issues with v4 but one thing this shows us is that I made too many changes too fast on one day. v2 made me 60 pips the first night. So I'm going to slow things down and just take all the changes under advisement. Get v4 working with the stuff it has and use it for a few days live. Then we can move forward.

Thanks for your patience.

EDIT: I have removed v3 and v4 from the thread to avoid confusion. So right now v2 is the version to use.
  • #2,780
  • Feb 15, 2008 8:41am Feb 15, 2008 8:41am
Hi All,

Let us do some maths to see how it is practically possible to make living with this system. In this system, getting one good trade per day is good enough.
Let say, we get 20 good trades for 1 month. Win:loss ratio for this sytem is 60%:40%. So out of 20 trades, 12 winning trades and 8 lossing trades.
so net is 4 winning trades. risk:reward ratio for this is 1:1. So if we win 30 pips per trade and loss will be 30 pips also.

1 winning trade = 30 pips
4 winning trades = 120 pips/month.

if we trade with mini lot let say pip per $, we get 120$/month.
if we trade with standard lot, let say $10/pip, we get 1200$/month.
if we trade 5 standard lot, we get 6000$/month.

Is that enough to make living?. please share if you have better maths.
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