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

  • #801
  • May 17, 2008 11:57am May 17, 2008 11:57am
is anyone taking the aud/cad short on the weekly?
  • #802
  • May 17, 2008 1:33pm May 17, 2008 1:33pm
Quoting RaverStyleTim2
is anyone taking the aud/cad short on the weekly?
I'll make my mind up tomorrow evening.
  • #803
  • May 17, 2008 1:37pm May 17, 2008 1:37pm
Quoting rorieu
Hayseed

I completely agree, why don't the folks here use the excellent Painted pip nailer?
This is a totally mechanical entry method so let the PC do it.
Then switch off all the indicators Psar, AC, and AO...seeing them is no help.
In fact use Dashboard 1.5 and have PPN on above.

What do you think, Ash?

Hayseed: Please check your PMs -- thanks
Whatever makes our lives easier Hayseed.
  • #804
  • May 18, 2008 3:27pm May 18, 2008 3:27pm
Quoting RaverStyleTim2
is anyone taking the aud/cad short on the weekly?
I would exercise caution on taking a short here. Price action is against us, there is a long tail on the Weekly.
  • #805
  • May 18, 2008 5:53pm May 18, 2008 5:53pm
Quoting hayseed

this will be contrary to most views ,,,,but for me,,,, pipnailer signals seem to payout best when applied only to 5, 15 and 30 minute charts.......

there will be about 10 times as many 5 minute signals as 60 minute signals..... this increased number gives me the advantage of selectivity which increases the win/loss ratio.....

if we only take the signals , there will be plenty, that agree with the larger trend we will miss many of those loosers..... however a couple adjustments need to be made such as, lot size needs to be reduced and both stoploss and profittargets need to be raised...... again, this is contrary to most views.....


signals are nothing more than motivators..... the market is always moving so waiting for days for motivation might not be using the markets movement or pipnailer signals to their fullest.....

maybe i'm impatiently laid back.......h
Hi Hayseed

Thanks for the indicators and thoughts. A bit more explanation would be good "however a couple adjustments need to be made such as, lot size needs to be reduced and both stoploss and profittargets need to be raised..." ??

How are you doing with PipNailer, win/loss ratios, no of pairs,etc.
Is it successful for you?

I'll try the HMA angle next week but at first glance it still seems to have more lag than I'd expect; the high/lows don't line up too well with the crossovers - we'll see.
Also, do you have the HMA that changes color at the hi/los and gives an alert?

thanks again

R
  • #806
  • May 18, 2008 10:35pm May 18, 2008 10:35pm
hey rorie.... been runing a pipnailer ea version of some sort since the one posted january 10th, post 58...... that ea is not the version i use, mine is somewhat extreme and i've changed ash's rules .....

my preference is the eurusd due to its volume of signals and stability of trend..... i've rewritten the ea many many times over the past months so there is no way to say for sure but win/loss is probably above 70% overall..... the first month it got beat up pretty bad and lately it's been having it tough also.....

reasons for adjustments........

i prefer to take every signal that passes the ea's test..... this is the most stable plan.... there might be 10 times as many 5 minute signals as 60 minute so the lot size must be reduced.... when taking all 5, 15 and 30 minute signals you have alot of trades open at a time.....

hayseeds bleed easy, so the ea will only open trades in complete sync with the larger trend..... if we look at the average weekly range, and maybe set our profit targets at 1/2 that, the odds of success are quite high.....

there can still be a lot of +/- swing so 1/3 the daily range as a stoploss seems quite reasonable..... if we get taken out, odds are very high another signal will be along shortly so we'll be right back in possibly at a better price....

so it ends up being something like a realistic 300 profittarget with 90 stoploss on a 0.02 or greater size lot..... keep in mind there will be a whole pack of open orders at a time..... so that small lookin lot size adds up quick.....


most orders never hit that 300 tp, the ea will close them all once total profit hits a certain value, say like 1000..... as example if 10 open orders have 100 pips each, they all will be closed, or 20 orders with 50 pips, so on...... there is far more to it than that, but that's the general idea.....h
Attached Image (click to enlarge)
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to trade and code, keep both simple... no call to impress....h
  • #807
  • May 20, 2008 2:19am May 20, 2008 2:19am
Quoting RaverStyleTim2
is anyone taking the aud/cad short on the weekly?
Raver did you take this? You would have made some very nice pips.
  • #808
  • May 20, 2008 10:19am May 20, 2008 10:19am
Quoting Peacelover
wHAT TIME FRAME IS THIS SYSTEM DESIGNED FOR?

And what are the settings for the indicators?

peace

Just curious. How frequently do we get this signal on D1 time frame, when you scan across all the pairs.

Thanks
TS
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #809
  • May 20, 2008 11:23am May 20, 2008 11:23am
i see a daily at least once a week, and quite a few 4hs. only have seen one weekly, which forexmoments, i did not take i should have, like i said lags agreed. and it woulda been damn nice but i've never watched one play out so i had to sit on the sidelines.
  • #810
  • May 20, 2008 2:38pm May 20, 2008 2:38pm
Perfect setup on USD/CAD yesterday morning on H1.

Easy 30 pips.
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  • #811
  • May 20, 2008 3:21pm May 20, 2008 3:21pm
I tried adding AUD / NZD to watch list by putting a ,AUDNZD to the second list but it did not get included in the dashboard.

Is there a way to go about this.

Thanks
TS
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #812
  • May 21, 2008 2:19am May 21, 2008 2:19am
Swingman is the programmer, maybe you can send him a PM.
  • #813
  • May 21, 2008 11:18am May 21, 2008 11:18am
Hi TradeStar:

Simply open your dashboard file in MetaEditor and add AUDNZD in the line of the program that begins with PairList1 = "AUDCAD,AUDJPY,AUDNZD,...........
Then click 'Compile' on the top panel and you are done and the pair will show up on the dashboard provided your broker offers it.

PS: Thanks for a great system Ash and thanks for the dashboard SwingMan.

________________________________________________________________

I tried adding AUD / NZD to watch list by putting a ,AUDNZD to the second list but it did not get included in the dashboard.

Is there a way to go about this.

Thanks
TS[/quote]
Luck is what happens when preparation meets opportunity.
  • #814
  • May 21, 2008 12:53pm May 21, 2008 12:53pm
Thanks Raju, It worked.

Ash,

Thanks for the system. Looks like we would still need some discretion after getting the signal. Like, for instance, if the nailed candle has a long wick or the pair has been ranging for while, etc., What is your experience and further fine tuning in selection of signals.

Thanks
TS

Quoting Raju
Hi TradeStar:

Simply open your dashboard file in MetaEditor and add AUDNZD in the line of the program that begins with PairList1 = "AUDCAD,AUDJPY,AUDNZD,...........
Then click 'Compile' on the top panel and you are done and the pair will show up on the dashboard provided your broker offers it.

PS: Thanks for a great system Ash and thanks for the dashboard SwingMan.

________________________________________________________________

I tried adding AUD / NZD to watch list by putting a ,AUDNZD to the second list but it did not get included in the dashboard.

Is there a way to go about this.

Thanks
TS
[/quote]
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #815
  • May 21, 2008 1:52pm May 21, 2008 1:52pm
eur/jpy signal was on ibfx and fxdd 15m AND 30m at same time! Lags were saying lets go down.
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  • #816
  • Edited 11:22pm May 21, 2008 3:44pm | Edited 11:22pm
I have recently come across this thread and went through all the posts last night. A lot of effort has been dedicated towards ‘full’ automation.

For traders who prefer to trade manually and wished to ride the entire trend with SAR, it might be worthwhile to have a simple EA that will:

1) Set a Target at a ratio of 1:1 or 1:1.5 or 1:2, whatever may be the selection

2) Sets a Stop Loss at the point marked by P-SARS plus or minus the spread, immediately after a Market Order is entered manually upon the completion of a candle as displayed on SwingMan’s dashboard

3) Move Stop Loss to a new P-SARS level upon completion of a candle and

4) Should the previous candle consist of an opposite colored Heiken-Ashi bar, as per rathcoole’s post 194, Stop Loss may remain the same and only move once the Heiken-Ashi candle’s color resumes to that consistent with the trade direction until Target is reached.

This way the trade is virtually automated right from the point of a manual Market Entry.

Raju

Quoting rathcoole

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"
Luck is what happens when preparation meets opportunity.
  • #817
  • Edited 11:26pm May 21, 2008 6:02pm | Edited 11:26pm
An additional filter might be neccessary to avoid signals that may not have the capability to reach 1:1 profit ratio if using SAR to exit as seen in the attached EURCAD daily chart. Else a defence mechanism might have to be built-in into the system such as moving Stop Loss at breakeven after a certain profit.

Raju

Quoting TradeStar
Looks like we would still need some discretion after getting the signal.
[/quote]
Attached Image (click to enlarge)
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Luck is what happens when preparation meets opportunity.
  • #818
  • May 21, 2008 7:02pm May 21, 2008 7:02pm
Hi All
does any one have the pipnailer ea mtf v2.1.mq4 or later i found the ex4 version but i want to access the code to try and do some mods of my own. If anyone does have could u please post thanks.

Thnx in advance

shaker
  • #819
  • May 21, 2008 8:06pm May 21, 2008 8:06pm
Quoting shaker22a
Hi All
does any one have the pipnailer ea mtf v2.1.mq4 or later i found the ex4 version but i want to access the code to try and do some mods of my own. If anyone does have could u please post thanks.

Thnx in advance

shaker
I believe all the versions that swingman put out were compiled already. Check the Paper Clip upper right if not... try PM to swingman he has not been around the thread for awhile
  • #820
  • May 22, 2008 2:27pm May 22, 2008 2:27pm
Quoting Raju
I have recently come across this thread and went through all the posts last night.
Wooah, that must have taken you a while, in just 1 night.

Thanks for your contribution.
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