Weekly Open EA

I have the latest version running also...seems to be working fine.

It is extremely important the MT4 run all week with the charts open and EA attached. No EA can do its thing unless everything is running. That's why you have an EA to trade for you. [/quote]

Hi mtaboneweb

Thanks for all your works just to improve the life of others.

Please I am new to forex trade. And I want to join to test run your EA.
Please kindly explain to me, do you also mean that my computer and internet connection should not be put off all week, to get the EA working ?

Once again, thanks for sharing.

markpips.[/quote]


Whichever computer is running the EA should remain running with internet, MetaTrader running, with charts and EA attached. Think of it this way... Your alarm clock waits for the right time to sound the alarm. Would your alarm sound if you unplug the alarm clock?

I know that a very simple example but it's to the point. Each tick of the chart (current value is updated) is when the code fires. During that time it goes through all the logic to place new trades, close existing one, update stop losses, take profits, etc. None of that can happen if it's not running.

I think people get confused thinking once you've got everything setup then it just runs on your account somewhere in cyberspace and that's not the case. It manages your account for you as if you were doing it yourself but it needs to tools running to do that.

Thanks mtaboneweb,

I have got it.

Testing EA started on Jul 27/08. First results attached. This system may not be suited for G/J.

Thank you for contributing. The more we can test the better off we'll be. I appreciate your help and all the others here as well.

EUR/USD current...

-70 pips closed with +105 floating
Stop loss has been moved to +50 since it's over 100 now.
If it doubled back now then -20 on closed.
If it moves to +150 then it'll lock in +100.

GBP/JPY current...

-225 pips closed with -42 floating
I don't see where this pair is doing very well under the default settings. It may do better if we tweaked the settings.

Any ideas?

GBP/USD current...

0 pips closed with +98 floating
Stop loss has been moved to +50 since it must have gone over 100 at some point.
If it doubled back now then +50 on closed.
If it moves to +150 then it'll lock in +100.

USD/CAD current...

+25 pips closed with +46 floating
Stop loss is still at -50 since +50 hasn't been hit yet.
If it doubled back now then -75 on closed.
If it moves to +50 then it'll lock in +75.

This would also leave the 3rd order open with break even and floating around +50.

USD/CHF current...

-75 pips closed with +84 floating
Stop loss has been moved to 0 since it's over 50 now.
If it doubled back now then -75 on closed.
If it moves to +100 then it'll lock in -25.

USD/JPY current...

-125 pips closed with +70 floating
Stop loss is still at -50 since +50 hasn't been hit yet.
If it doubled back now then -225 on closed.
If it moves to +50 then it'll lock in -75.

This would also leave the 3rd order open with break even and floating around +50.

Started EA on Sunday with IBFX. Trading gb/usd,eur/usd,usd/jpy,usd/chf,usd/cad all default settings. Closed profit is -236 bpips, open profit is ~395 pips.

Cool, without the GBP/JPY it looks like you may end in a very good week.

Thanks for sharing.

Yeah, things look good today. Thinking it may be smart to set the trailing stop on the 3rd order. Anyone else using trailing stops? Although i want to give it enough room without stopping out prematurely.

If you are using the default settings it should be closing the gap with stop loss and opposite orders every time it moves another +50 pips.

Check some of your trades that are +50, +100, etc. and you should see the stop loss has been adjusted and opposite orders moved to those same levels.

I you are +50 then break even, +100 then +50 locked in, +150 then +100 locked in, etc. The first order would close at +25 and the second at +50 leaving the third to keep going. So even if you just reach 50 then you've already locked in +75 on the first 2 orders.

Good points. I did see that with every +50 pips it'll move the BE. I think I'll leave it as is. Here's hoping for a good week. Off topic, i just started testing the ashfx ea too, how often do you normally see trades with that one? I'm assuming they're not real frequent.

No their not very frequent at all. But it has been in profit.

i have the latest EA installed and am presently @ +302, all default settings.

Awesome, thanks.

EUR/USD: +25 (6 closed trades)
GBP/JPY: -150 (9 closed trades)
GBP/USD: +125 (10 closed trades)
USD/CAD: +25 (1 closed trade)
USD/CHF: +25 (6 closed trades)
USD/JPY: -125 (4 closed trades)

Total: -75 (36 closed trades)

Obviously the GBP/JPY and USD/JPY need tweaking. Some here have had luck with the USD/JPY and OrderDistance of 30?

All are running default settings.

Current open trades below...