Super Carry Trade Trading System

Quoting gnllr

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Yes, as per Dreamliner's method, the first market order has a TakeProfit of 10 pips as well.

Glen

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Quoting caminus

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Xaron
What time do you place your trades? Looks like your using different times. Please explain.

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Quoting Hoef

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I might be wrong but in that case it is difficult to "close" the orders b/c on a retractment you always left with the danglers. For example if the currency has a sinus pattern (of maybe 200pips top to bottom) you continuously open orders on the bottom and they become danglers on the top of the sinus. Whereas if you leave the initial order open you average down much faster and thus allows you to close the orders when the average is positive.

Somebody please confirm whether or not it will work with a 10pips take profit on the initial order

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Quoting Xaron

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bhale,

actually you can have 2 danglers due to the spread. A new position will be opened before the old one is closed.

This is more likely for a spacing of 10 pips than for a spacing of 20 pips.

Regards - Xaron

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Quoting bhale

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No you won't. It's not possible. If the spread is 3 pips, you place orders 13 pips apart with TP of 10. One will close and the next open at the same time. Never more than 1 dangler.

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Quoting zek132

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1998 GY dropped 3500 pips in a week, that's rather severe i would say...

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Quoting gnllr

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Right, so past 1000 pips on the descent, you would increase your averaging-in spacing from 200 pips to 400-500 pips.

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Quoting Qman

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I like your idea. Looks like we might be using it soon...

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Quoting bhale

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I've been trading this system the last two days with an interesting twist. I am trading the JPY pairs and only when they have gone down a little or a lot by end of day. If it's shot up, I wait. But here is what helped me the past two days without having danglers. When an entry goes against me about 30 or so pips. I adjust my pending orders down. I do this until I have enough orders to get me back to the one that's dangling. If it's close to noon hour, I might then put the dangler at breakeven. I did this today with success. I had 15 TP and then 3 danglers that evened out to breakeven with the last trade. So I got around 150 pips. Yesterday saw about 90, with no danglers. I don't think it will eliminate danglers but it helps keep them few. THe only drawback is having to monitor things, but your not stuck to the screen, just have to be close by.

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Quoting hayseed

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hey bighope.... thanks for those.... the "close all" script is very similar to what i used on the rewrite but just included it in the ea like timefreedoms closing function.....

was wonderin, is there a reason for not using extern inputs in your buystop code..... seems that would be easier than modying everyday.......

i tried to use almost the exact same while loop as in your buy stop code last year for a couple ea's but never could figure out how to let the user, or ea, independtly adjust the profit target....

backtests on every pair reveals that the ea pays far better when the lower buystops have a larger profittarget.....

have you given any thought on how we could vary the profit target and still use that style while loop.... thanks.....h

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Quoting Qman

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Let me give #6 a try here, and Dreamliner can tell me if I've got it wrong.

You are in a downtrend and have some number of open positions creating an average entry price. You also have a (large) number of buy stop orders between your last entry, going all the way up in 10 pip increments, to the last one you placed with your initial entry. Price has been trending down, but now reverses and begins heading back to your Average price. Along the way, it crosses the price of your last entry, and you begin to collect the 10 pip buy stops, each of them closing at a 10 pip profit as price advances. At some point, price advances to and actually crosses the Average price. At that point, you should:

1. Open a new base position ... AND...
2. Close all open and pending orders ... AND ...
3. Establish a new grid of buy stop orders with 10 pip TP from the confirmed entry price of your new base position.

That is my understanding. In a fast moving market I can see where things could get a bit dicey getting all of that work done as price is speeding on up. There is a chance for a few oddly filled orders, but I don't think it is so much to concern ourselves with. Anything stranded would just factor into a new Average position, and will eventually fill in a quieter market.

Given this understanding I can only think of a couple of questions/issues. First is, what is the best order to accomplish the above 3 steps (again, I'm guessing that in the long run it won't make a huge difference). Second is, since we know we will want to delete the grid above the Average price for the multiple positions, why don't we do that anytime we adjust the Average position buy purchasing a newer Average Down position? Say, after making the purchase, determine the actual average price of all your open positions, and delete any grid buy stop orders greater than 10 pips above the average price (So if the market is moving fast, and you have a standing grid order at 2 pips above the Average price, we would keep that one alive until we've finished establishing the new grid price). Then when the new buy stop grid is established, if that one remaining buy stop position hasn't triggered yet, the EA will go back and remove it.

I know this is really in the weeds stuff. I've done some programming though, and I know it might help Hayseed see something he might be missing if I can get enough of that detail in.

Hayseed, dude! Did you find your missing Right Closing Brackett? What a PAIN. You are an angel for doing this EA. I have an idea what you are up against, and I really appreciate you taking the time to work on this. May you be rewarded 1000 fold!

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Quoting bhale

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gnlr,
On Friday I had a grid on USDJPY starting at 104.27. I had ten entered. It kept moving down so I changed the highest and entered at 103.97, then every 13 pips (10 plus spread). It came back to about 104.35 before dropping again, but it allowed me to get back to even with the original trade and also get about 30 pips. So by adjusting down, I mean moving my buy stop entrie down, so that when it does come back, I am getting some profits while getting back to my original. I know this won't always work, but it makes sense.

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Quoting gnllr

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Hoef, I can confirm that using 10 pip Take Profit on the first market order does work. I'm using OANDA. Dreamliner has been trading this way since the first of the year with good profits. I think the reasoning behind this is the scenario when the price continues to rise, hitting many of the buystop orders. However, you do have a point about having a lower Average Price...

Say that we are just starting and we open our first market order with no TP. Then we place our buystops up to 400 pips above the current price. Now the price continues up to 200 pips hitting half of our buystops for profit. Now lets say that the price drops to 100 pips to end the day. Let's assume we have one dangler at the top (the 200 pip point) and our first market order with no TP. Our Average Price would be lower, which is good, and perhaps the current price is even above our Average Price, so that we can close both orders and start again.

If the price continues to fall the next day, then we would have, overall, a slightly lower Average Price to work with.

All in all, I don't think it makes that big of a difference either way. However, I could be overlooking something that someone else could shed light on.

Glen

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