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  • #641
  • Aug 19, 2008 3:57pm Aug 19, 2008 3:57pm
I use a close all script. I have done both, close all or close profitable and let the others run. It has a lot to do with my schedule. Since classes start Friday I turn on the EA, go to work and most days dont get home until 10 hours later. I see profit and close all. If I am home for the evening (morning your time) I may let it run through the USA session. The 3-400 range of this EA allows you to be extremely flexible. That is the beauty of it.

Attached is a close all script you can use.
Attached File(s)
File Type: mq4 CloseAll.mq4   6 KB | 478 downloads
File Type: ex4 CloseAll.ex4   6 KB | 377 downloads
  • #642
  • Aug 19, 2008 6:40pm Aug 19, 2008 6:40pm
Quoting nanningbob
Here is my test of the 50/40 on 19 pairs. I have not had to step in on any trades this month but have just let it run. I do turn it off on weekends. Sometimes I have closed for the day and other days I let it run.
What you are saying is that you don't actually close out the trades you have open through the weekend, but you just turn off the EA.

Are you usually leaving the positions open and letting the EA manage the trades on a pair all the time - unless they are building a large losing position?

I must be missing something because I have been closing all the open trades at the end of every day near the end of the US session. Then restarting the EA again before the beginning of the Asian session.

I thought the reason for that was so you would be on the correct side of the daily trend as determined by the 1MA on the daily chart. Kind of like resetting everything back into the proper direction each day.

If that's not the case, is there any good reason to ever close trades manually each day unless you are trying to recover from an impending death trade?

But you have also said that you come home and take your profits at the end of the day, so I don't know if I should just always leave the EA running or open and close all these positions every day.

Obviously, opening and closing positions for no reason simply reduces your profits by churning and needlessly paying more bid/ask spreads.

What do you think?
  • #643
  • Aug 19, 2008 10:51pm Aug 19, 2008 10:51pm
Thanks BOB, you shed light to my martingale solution.

As I mention, I did some real account experiment with my EA.

Start account 1 with USD50(microlot) on 17 August
trade only for EURUSD.
When in profit on 18August, I open another account2 with USD50(microlot) for USDJPY.

Today, when I back home for lunch, both account close automatically with positive gain.
Total both account gain +USD83.

Now, i open another account 3. Thnking for another major.

Let me experiment this till enough data. Hopefully it is not merely just luck.
  • #644
  • Aug 20, 2008 12:52am Aug 20, 2008 12:52am
Quoting akukaya
Thanks BOB, you shed light to my martingale solution.

As I mention, I did some real account experiment with my EA.

Start account 1 with USD50(microlot) on 17 August
trade only for EURUSD.
When in profit on 18August, I open another account2 with USD50(microlot) for USDJPY.

Today, when I back home for lunch, both account close automatically with positive gain.
Total both account gain +USD83.

Now, i open another account 3. Thnking for another major.

Let me experiment this till enough data. Hopefully it is not merely just luck.
That's nice in this way you'll maybe find a perfect strategy that suits you...
Keep up the good trading work
  • #645
  • Aug 20, 2008 12:53am Aug 20, 2008 12:53am
hi Bob,

I have just read this thread and you have indeed put a lot of hard work into all of this and i am very impressed with what you have come up with. This is definitely a case of thinking outside the box and approaching trading from a different perspective, well done.
I am looking forward to trying this myself. I am going to print this thread off and read it at work.
I have a couple of questions if you don't mind:
1. I am working with IBFX, the same as you. If my first trade uses 0.01 lots, then if a second level is reached then it should open up a trade with 1.5 times that amount, which should be 0.015 but you cannot trade this amount and the amount defaults to 0.02, which is twice the amount. Is there a way round this, or do you get the same? I think i remember reading something in this in the thread but cannot seem to locate it at the moment.
2. I am in London and i work in the evenings and i have to leave around 15:30GMT. I am available to check the charts all day until then so all of the London and European sessions and the first part of the US session. I would be able to close positions any time during this time but i am not around when the daily candle closes at 12:00 GMT or when the US session closes at around 21:00 GMT. First of all, i was wondering whether it would work if i monitored the trades up to 15:30 GMT and if in reasonable profit then i could close them down. If not then i could leave them until the US session close at 21:00 GMT and have an expert shut them down. I would also configure the main expert to shut down at this time and then restart at 12:00GMT. This could more or less replicate me being there in person. All trades are closed at the latest at 21:00 GMT and most of them will be closed manually before then.
3. If the above seems reasonable then is it possible to do with the expert advisors you have provided?

Thanks in advance,
Steve
  • #646
  • Aug 20, 2008 1:04am Aug 20, 2008 1:04am
Quoting PistolDave
What you are saying is that you don't actually close out the trades you have open through the weekend, but you just turn off the EA.

Are you usually leaving the positions open and letting the EA manage the trades on a pair all the time - unless they are building a large losing position?

I must be missing something because I have been closing all the open trades at the end of every day near the end of the US session. Then restarting the EA again before the beginning of the Asian session.

I thought the reason for that was so you would be on the correct side of the daily trend as determined by the 1MA on the daily chart. Kind of like resetting everything back into the proper direction each day.

If that's not the case, is there any good reason to ever close trades manually each day unless you are trying to recover from an impending death trade?

But you have also said that you come home and take your profits at the end of the day, so I don't know if I should just always leave the EA running or open and close all these positions every day.

Obviously, opening and closing positions for no reason simply reduces your profits by churning and needlessly paying more bid/ask spreads.

What do you think?
I very rarely keep trades over the weekend, in fact I usually close all trades on Friday before the US open especially if I am showing a profit. That way I dont dig myself into a hole.

I look at the over all profit. If I come home and see it has banked 30 dollars and there is 30 dollars profit I close all trades and am done. Or I see 45 dollars banked and -7 in the hole I close all and am done. But I do that because of my schedule. If there is no profit there then I will run them through the USA session. My one and only concern is, total profit. I see it, I grab it, I am done.

That does not mean if you are able to monitor your trades throughout the day, you cant keep trading. This EA will make trades for you, pocket profits, etc. You decide whether you want it to trade all day or not. In my testing I used to turn on the 100/40 and let it run all week. It very seldom got into trouble, my problem is because of my job, if it ever does get into trouble, I am not here to take care of the problem. So I close my trades almost every day. I DONT FACE THE DEATH TRADE THAT WAY, BUT I WONT MAKE AS MUCH MONEY AS THOSE WHO CAN WATCH THEIR TRADES ALL DAY. That is a lifestyle based trading. Your lifestyle may allow you to trade longer or more often than me, because you are around to monitor the trades. My only concern is, did I make a profit? Not how big, not how many pips, not what if I had stayed in longer, I dont look for perfect exits anymore, I make money I am done, I no longer care about those things. The reason I recommend a long period of demo the EA is getting used to what it does and how it fits your style of trading.

This EA is very successful in a 3-400 pip range. As long as you stay in that range you make profit. What you need to happen to you is to hit a death trade after you have hung on to a trade for 3 days. Then you will say, I understand now why Bob does this. When you see your margin going to the 500-1000 dollar range or more and you start sweating, you begin to realize, if I close my trades more often I would never get here. This EA will make you money, you just need to manage the margin usage and losses. Be creative, it is how I got this EA to work.
  • #647
  • Aug 20, 2008 1:16am Aug 20, 2008 1:16am
Quoting steveshutts
hi Bob,

I have just read this thread and you have indeed put a lot of hard work into all of this and i am very impressed with what you have come up with. This is definitely a case of thinking outside the box and approaching trading from a different perspective, well done.
I am looking forward to trying this myself. I am going to print this thread off and read it at work.
I have a couple of questions if you don't mind:
1. I am working with IBFX, the same as you. If my first trade uses 0.01 lots, then if a second level is reached then it should open up a trade with 1.5 times that amount, which should be 0.015 but you cannot trade this amount and the amount defaults to 0.02, which is twice the amount. Is there a way round this, or do you get the same? I think i remember reading something in this in the thread but cannot seem to locate it at the moment.

IBFX will not trade a fraction of a penny so it will either round up or down. 1x1.5=1.5 so it rounds up to 2. 2x1.5=3 then 3x1.5 = 4.5 so it rounds up to 5, 5x1.5=7.5 so it rounds up to 8 and so on. That is why you cant use 1.4 because it will then round down and you never get a number greater than 1.
2. I am in London and i work in the evenings and i have to leave around 15:30GMT. I am available to check the charts all day until then so all of the London and European sessions and the first part of the US session. I would be able to close positions any time during this time but i am not around when the daily candle closes at 12:00 GMT or when the US session closes at around 21:00 GMT. First of all, i was wondering whether it would work if i monitored the trades up to 15:30 GMT and if in reasonable profit then i could close them down. If not then i could leave them until the US session close at 21:00 GMT and have an expert shut them down. I would also configure the main expert to shut down at this time and then restart at 12:00GMT. This could more or less replicate me being there in person. All trades are closed at the latest at 21:00 GMT and most of them will be closed manually before then.

I use the JPY open because I can start my EA and go to work. It probably would work just as well for you if you start it before the EURO session. I just have not done much testing outside of my own personal schedule. You can test other start sessions and see what happens. Maybe by the Euro open the daily trend is established and the EA will work better. I dont know. I hope readers understand my living in China and my lifestyle trading choices.

The EA also has this coded in it. A start time and a shut down time. I just never have played with it. It also has session times in it also, but again I have not played with these portions of the program. If you are a trader and understand coding this EA is a traders dream EA. It is the best and most thought EA I have ever seen.

3. If the above seems reasonable then is it possible to do with the expert advisors you have provided?

Yes, there is nothing stopping anyone from testing this in different session frames. I may someday try, JPY open versus EURO open versus USA open. I could run three demos and see which one works best. Just havent tested those ideas yet.

Thanks in advance,
Steve
Answers in RED above.
  • #648
  • Aug 20, 2008 1:43am Aug 20, 2008 1:43am
Thanks Bob for your answers, that makes sense. I only have the executable file so i am unable to look at the code. I would really like to see how it uses the open and close times for the different sessions and it would really speed things up if i could take a look at the code.
Would it be possible to have the mq4 file so i can view this?

Steve

Sorry Bob, just got it off the attachments, i hope it is the correct one!
  • #649
  • Aug 20, 2008 2:52am Aug 20, 2008 2:52am
Just a question for anyone using this EA. I was wondering what sort of profit and loss you would roughly see in a days trading. I know this is probably a stupid question as it will undoubtedly vary from day to day. I just wondered if anybody had a rough idea of what a good day has been or a bad day or what they would expect from the experience they have had.
I am trading with the standard settings, with 0.01 lots and i am interested so i know when i have reached a reached a suitable profit for the day so i can close my trades.

Steve
  • #650
  • Aug 20, 2008 4:03am Aug 20, 2008 4:03am
Quoting steveshutts
Thanks Bob for your answers, that makes sense. I only have the executable file so i am unable to look at the code. I would really like to see how it uses the open and close times for the different sessions and it would really speed things up if i could take a look at the code.
Would it be possible to have the mq4 file so i can view this?

Steve

Sorry Bob, just got it off the attachments, i hope it is the correct one!
The original code posted by Azaam is found at post #155 pg 9 or 10
My code with modifications is post #616
  • #651
  • Aug 20, 2008 4:14am Aug 20, 2008 4:14am
For the guy who can only do .10 trades. I have made two modifications and would like you to try them. Instead of just following the 1D trend, I have two more to test and find results on.

1. One only trades if it follows the 1W, 1D, and 1H trend. The 1H trend being a 7MA, shift 0, Close, LWMA. This is like following the trend and then entering on a trend break. I feel the 7MA, close is the best MA for trendline breaks. It is designed to enter only the safest of trades.

2. Same as above but only follows the 1D and 1H trend. We eliminate following the 1W trend. These are both 100/40

I also would like guys to try opening them at different session times and report. For instance turn on the EA at JPY session, EURO session, USA session and we can compare how it does.

Since we are trading dimes and can hit bigger numbers faster, this is a definitely close all trades after you see a nice profit. Good luck and let me know how it goes.

I traded these today and one hit 54 dollars by the end of the Euro session and the other hit 75 dollars. I closed all trades and will wait for tomorrow. I opened them at the beginning of the JPY session.
Attached File(s)
File Type: ex4 1D 1H 1W 100-40.ex4   24 KB | 432 downloads
File Type: ex4 1D 1H 100-40.ex4   24 KB | 413 downloads
  • #652
  • Aug 20, 2008 4:22am Aug 20, 2008 4:22am
Starting a test run today.

I started a test today that will run for about 10 days to a month before I make any changes. There are three variations of the test shown below. I will be running all three at the same time.

I am not making any assumptions that one or the other of these variations will work best. But you can still learn something, even from an unprofitable test. At the risk of looking like a fool, I will report back on the results -good or bad.

I am determined to keep manual involvement to a minimum, and won't close the trades other than I am showing here unless large losses start building toward a death trade. I am confident now, that is unlikely. I have not been using Bob's system long, but am starting to think that there is no need to keep trying to open and close trades all day long, back and forth, just guessing which way it is going. When you do that it is counterproductive.

Let the EA trade the "noise" because it can profit from moves in both directions as long as they don't get too large going in only one direction against you. And closing out all positions daily takes care of that problem too.

Here is what I am running and how I will be opening and closing trades:

Test 1: On platform #1, high-volatility pairs running 100x40, low-volatility pairs running 50x40.
Close all trades & immediately restart EA one time per day:
At 17:00 GMT (or late in US session, before start of Asian session.)

Test 2: On platform #2, high-volatility pairs running 100x40, low-volatility pairs running 50x40.
Close all trades & immediately restart EA two times per day:
1) At 17:00 GMT
2) At 12:00 GMT (Beginning of US session.)

Test 3: On platform #3, high-volatility pairs & low-volatility pairs both running 100x40.
Close all trades & immediately restart EA one time per day:
At 17:00 GMT

All trades will be closed on all platforms from 17:00 GMT Friday until 24:00 GMT Sunday (after the start of the Asian session) to avoid weekend gapping as Bob mentioned.

I chose 17:00 as a convenient time to open and close because of my schedule and because it makes logical sense to me.

If anyone sees any errors in my thinking here, or if these times are not right (I don't convert to GMT very well sometimes) don't hesitate to say so.

Let's learn to be as successful as possible with the method.
  • #653
  • Aug 20, 2008 5:55am Aug 20, 2008 5:55am
Greetings,

I am starting some MT4 test platforms with some EAs in this thread, have checked the last ones and would like to know:

does everything (except Sto settings) in the functions/settings works, namely SecureProfit? If it does, I would set TP at 1% profit (calculated manually). If I think correctly, EA would after reaching TP close all trades and then start anew.
  • #654
  • Aug 20, 2008 6:14am Aug 20, 2008 6:14am
Quoting nanningbob
For the guy who can only do .10 trades. I have made two modifications and would like you to try them. Instead of just following the 1D trend, I have two more to test and find results on.

1. One only trades if it follows the 1W, 1D, and 1H trend. The 1H trend being a 7MA, shift 0, Close, LWMA. This is like following the trend and then entering on a trend break. I feel the 7MA, close is the best MA for trendline breaks. It is designed to enter only the safest of trades.

2. Same as above but only follows the 1D and 1H trend. We eliminate following the 1W trend. These are both 100/40

I also would like guys to try opening them at different session times and report. For instance turn on the EA at JPY session, EURO session, USA session and we can compare how it does.

Since we are trading dimes and can hit bigger numbers faster, this is a definitely close all trades after you see a nice profit. Good luck and let me know how it goes.

I traded these today and one hit 54 dollars by the end of the Euro session and the other hit 75 dollars. I closed all trades and will wait for tomorrow. I opened them at the beginning of the JPY session.

I make two demo.
The next weekend, one for each EA.
One question:
your EA provides trade max 8.
After 8 trend against us continues.
How does EA?
It has a defence or a closure or a stop loss in this case?
In this case has no defence?
I know talking about an extreme case, but let me know.
Sorry my English and thanks for everything.
Romano
  • #655
  • Aug 20, 2008 7:49am Aug 20, 2008 7:49am
Quoting keramikus
Greetings,

I am starting some MT4 test platforms with some EAs in this thread, have checked the last ones and would like to know:

does everything (except Sto settings) in the functions/settings works, namely SecureProfit? If it does, I would set TP at 1% profit (calculated manually). If I think correctly, EA would after reaching TP close all trades and then start anew.
Yes I have disabled all sto settings and replaced them with MA averages. If you want the sto settings that EA is found at post 155. To use the other settings in the EA you need to go in the program and turn the False to true and that activates them.
  • #656
  • Aug 20, 2008 7:58am Aug 20, 2008 7:58am
Quoting Romano
I make two demo.
The next weekend, one for each EA.
One question:
your EA provides trade max 8.
After 8 trend against us continues.
How does EA?

That is it. That is far I take a trade and then get out. To keep entering and increasing only brings on the death trade. The 50/40 is set at that. I think the 100/40 is set for 10 levels because its multiplicati0n factor is 1.5 so you can give it a little more ranges.

It has a defence or a closure or a stop loss in this case?
In this case has no defence?

There is no defense there except to find your best exit. It was a number I came up with so if you missed closing it, it would not keep multiplying entrances and endangering wiping out your account. It is part of my philosophy of stopping the death trade. Limit the number of entries. The EA does have two forms of loss control in it. One is set a percentage of the account and it closes all trades when it is hit, say 10%. The other is a figure, Close all trades if balance hits 2700 dollars. Both of those protections are set at false. You can turn them on by setting them to true and putting the figure in you want. I prefer manually closing my trades every day as I have said in the past.

A third way is to set your stop loss at 400 pips or something like that. When the first trade (entrance) hits the 400 mark it will then close all trades on that currency. The other two close all trades on all currencies.


I know talking about an extreme case, but let me know.
Sorry my English and thanks for everything.
Romano
Answers in red
  • #657
  • Aug 20, 2008 8:01am Aug 20, 2008 8:01am
Pistol Dave you are trying things I havent tried yet so good luck. This is how I learned. Load up a bunch of demos and let it rip. How all my theories were developed.
  • #658
  • Aug 20, 2008 8:58am Aug 20, 2008 8:58am
Ive read most of this thread and would like to try a demo, the EA on the first page, is this what Im to use, i see theres lots of download in this thread.
  • #659
  • Aug 20, 2008 12:55pm Aug 20, 2008 12:55pm
I am a newbie here.

I am also on test mode too on your 100 -40 EA.

It looks impressive though on back testing.

Just small little point to share for newbie like me ,

on the back testing I had a lot of order send error 131.

This means the EA does not read lot size properly.

If someone has a same problem as mine. Try this !!



mylotsi=mylotsi*multiply; // put this line in if statement
NormalizeDouble(mylotsi, 2); // put this line in your order send function

instead of mylotsi=NormalizeDouble(mylotsi*multiply, 2);

This way somehow , I was able to remove a lot of order send error on back testing and the EA start to work.

But It could be specific to my platform only!!

Then talk to you soon guys again!!
  • #660
  • Aug 20, 2008 3:45pm Aug 20, 2008 3:45pm
Quoting Hanoverfiste
Ive read most of this thread and would like to try a demo, the EA on the first page, is this what Im to use, i see theres lots of download in this thread.
You will do better if you use the newest ones that have made adjustments over time.
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