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Part Time Wealth Building Trading System - Daily Scalping

  • #541
  • Feb 16, 2007 12:45pm Feb 16, 2007 12:45pm
it might be a good idea. after what g-y did to me this week...
i'll run a quick visual check for the last year or so, but from what i've seen so far it should work just fine (the problem for me is that i'm sleeping at that time...).
and another thing: now that i have the new EA (which seems to be working 90% of the time) i'll play a little bit on several other pairs and see what SL gives the best returns.
everyone have a great weekend!

Quoting Wings
I think the timeframes that we enter and exit our trades is incredibly important to the success of this system. Personally I am going to try out exiting at 22 GMT because this is when the New York session closes. And then opening at 7 - 8 GMT the next day to bypass most of the chop-chop that happens in the asian session.
Nihil Sine Deo.
  • #542
  • Feb 16, 2007 12:48pm Feb 16, 2007 12:48pm
that's another good question. my first choice would be as usual, based on previous day trend, except in some obvious (and probably, very rare) cases when indicators are telling you something else.

Quoting toti1972
Becomes interesting for me since during that period I experiment only losses, except just 1 day...but I'd like to know what direccion are you going to take...Based on day before's trend no matter where the market is heading at the time of entry, or you are going to see what direccion the market is trending at the specific entry time? thanks for any advice here

Regards
Nihil Sine Deo.
  • #543
  • Feb 16, 2007 1:00pm Feb 16, 2007 1:00pm
Problem with this...at least for pound/yen, is that the move often takes place at the start of asian session...0000GMT.
  • #544
  • Feb 16, 2007 1:22pm Feb 16, 2007 1:22pm
Quoting coolshades
place orders at the start of YOUR daily candle. your broker is probably GMT + 2 and hence the 2 hour difference.

Coolshades, thanks for the reply. I guess that makes sense.
  • #545
  • Feb 16, 2007 2:30pm Feb 16, 2007 2:30pm
Quoting vitalykk
Actually in Alpari the candle of 13.02.2007 is dodj (open = close) and
CheckTrend returns "BULLISH". So the situation is
"BULLISH","BULLISH","BEARISH" and if you look at EA source I marked in bold

// Controlla BUY Order
if (
(CheckTrend(1)=="BULLISH" && CheckTrend(2)=="BEARISH" && CheckTrend(3)=="BULLISH") ||
(CheckTrend(1)=="BULLISH" && CheckTrend(2)=="BULLISH" && CheckTrend(3)=="BEARISH") ||
 (CheckTrend(1)=="BULLISH" && CheckTrend(2)=="BEARISH" && CheckTrend(3)=="BEARISH") ||
(CheckTrend(1)=="BEARISH" && CheckTrend(2)=="BEARISH" && CheckTrend(3)=="BEARISH")
)
{


the EA issued BUY order.
We need to check the logics here...

Vitalykk
ok wait wait Vitalykk
You said that EA opened wrong order for today 16th Feb, so the EA will check the previous 3 days (15,14 and 13) to determine if there was 3 consecutive sell (or buy).
Now for 15th Feb the candle was clearly bearish so CheckTrend(1) will return BEARISH, then the 14 Feb was a clear bullish candle so CheckTrend(2) will return BULLISH then finally the third candle since is a doji i assigned arbitrary to be bullish since open=close but i don't know if it's correct (any suggestion from tkimble is appreciated), so the situation was still :

CheckTrend(1) = BEARISH && CheckTrend(2) = BULLISH && CheckTrend(3) = BULLISH

so we are still in the sell 'if' statement , am I wrong something ??
  • #546
  • Feb 16, 2007 2:41pm Feb 16, 2007 2:41pm
Quoting Wings
I think the timeframes that we enter and exit our trades is incredibly important to the success of this system. Personally I am going to try out exiting at 22 GMT because this is when the New York session closes. And then opening at 7 - 8 GMT the next day to bypass most of the chop-chop that happens in the asian session.
Wings the 7-8 GMT session can be incredibly choppy for the GBP -often 30 pip swings before the normal trend resumes..
  • #547
  • Feb 16, 2007 2:46pm Feb 16, 2007 2:46pm
Hi skyline,

I have not been able to get your EA to open up orders .... here are my test settings: Should I use = +2 instead? for GMT+2 timezone with SBFX Platform.

extern double GMT_Shift = 2;
extern int TakeProfit = 100;
extern int StopLoss = 40;
extern int HourToCloseOrders = 23;
extern bool SundayCandleExists = true;
extern double Lots = 0.01;
extern bool UseMoneyManagement = false;
extern int Risk = 2;
extern int MagicNumber = 111110;
extern int Slippage = 3;


I wondered what could be off here that I am not getting orders ..... I want this for the daily close around 5/7:00 EST....... not weekly.

Thanks very much! .... I am new to ....... EA time settings.
  • #548
  • Feb 16, 2007 3:13pm Feb 16, 2007 3:13pm
GBP/JPY is stiring in the Long arena ... IMO
  • #549
  • Edited 3:53pm Feb 16, 2007 3:36pm | Edited 3:53pm
Quoting skyline
ok wait wait Vitalykk
You said that EA opened wrong order for today 16th Feb, so the EA will check the previous 3 days (15,14 and 13) to determine if there was 3 consecutive sell (or buy).
Now for 15th Feb the candle was clearly bearish so CheckTrend(1) will return BEARISH, then the 14 Feb was a clear bullish candle so CheckTrend(2) will return BULLISH then finally the third candle since is a doji i assigned arbitrary to be bullish since open=close but i don't know if it's correct (any suggestion from tkimble is appreciated), so the situation was still :

CheckTrend(1) = BEARISH && CheckTrend(2) = BULLISH && CheckTrend(3) = BULLISH

so we are still in the sell 'if' statement , am I wrong something ??
No, you are not wrong...
But I still don't understand why the first order opened today was BUY...
Please check it in the tester... I will also try to check after the day close.
Buy the way we have to decide when the doji is "BULLISH" and when it is "BERRFISH"...
Hope Tkimble will help

Vitalykk
  • #550
  • Feb 16, 2007 3:43pm Feb 16, 2007 3:43pm
Quoting vitalykk
The problem is to decide is doji a "BULLISH" or "BERRFISH"...

Also I think we have to check the logics in my case...

Vitalykk
Exactly , I don't know how Tkimble handle the doji candle , is doji a bullish or bearish candle ?
  • #551
  • Feb 16, 2007 3:47pm Feb 16, 2007 3:47pm
Quoting ut2DaMax
I have just tested EA between using

= +2; and = 2;

= +2; was the winner by 5 minutes

Now not so sure .... I guess both work .......

for all of you in the same boat and did not know.

Since no one replied yet I did it the hard way and did a lot of testing and now know more than all you non coders out there ...... LOL

I am still waiting for other answers for my last post.


Note to self:
Remember ..... the more you dig .... [when there are no happy mt4 CODERS] .......... the warmer you get. LOL
If your broker is gmt+2 you have to put GMT_Shift = 2 , if it's GMT-2 you have to put GMT_Shift = -2
  • #552
  • Feb 16, 2007 4:08pm Feb 16, 2007 4:08pm
Hello skyline,

i will ask you do you think you can finish the next verison of the EA with the TotalOrders() function. I will be great because i will test it next week again with more then one pair.

Thanks a lot.
Mobsie
  • #553
  • Feb 16, 2007 5:00pm Feb 16, 2007 5:00pm
Quoting Mobsie
Hello skyline,

i will ask you do you think you can finish the next verison of the EA with the TotalOrders() function. I will be great because i will test it next week again with more then one pair.

Thanks a lot.
Mobsie
In the meantime that we are waiting for Tkimble to enlight us about the doji candle and how to handle it , I will post new v.1.0c in few minutes just the time to complete coding about a new external variable MaxLossesTradesPerDay so that user could choose to limit max losses in a single day, the EA when is reached that value will stop to trade until new day will start
  • #554
  • Feb 16, 2007 5:29pm Feb 16, 2007 5:29pm
Today was a really 'coding&fixing day' for this EA
Ok now we have new version with major fix due to wrong active orders count if you will use this EA in conjuction with other EAs over the same account, then I added an external variable to control max losses that might occurs in the same day. Here's the changelog :

// CHANGELOG
// v1.0 (07 Feb 2007) : Start Project
// v1.0a (07 Feb 2007) : Add GMT_Shift variable
// v1.0b (16 Feb 2007) : Added MagicNumber routine based on pair and timeframe
// v1.0c (17 Feb 2007) : Added routine TotalOrders to count only active order related to current EA (Thanks to Vitalykk)
// Added routine OrdersLossInDay to control losses in the same day. Users have the option to change how much loss trade they want setting external variable MaxLossesTradesPerDay.

Try it on demo account & report errors plsss

P.S: I will start a demo test with v1.0c from next week on my private server with EA full working 24/7 and will report statement or possible errors here.
Attached File(s)
File Type: zip Daily Scalping EA v1.0c.zip   12 KB | 544 downloads
  • #555
  • Feb 16, 2007 6:31pm Feb 16, 2007 6:31pm
Quoting skyline
In the meantime that we are waiting for Tkimble to enlight us about the doji candle and how to handle it , I will post new v.1.0c in few minutes just the time to complete coding about a new external variable MaxLossesTradesPerDay so that user could choose to limit max losses in a single day, the EA when is reached that value will stop to trade until new day will start
I think he answered the doji question in his Post #273.
  • #556
  • Feb 16, 2007 7:11pm Feb 16, 2007 7:11pm
Quoting skyline
If your broker is gmt+2 you have to put GMT_Shift = 2 , if it's GMT-2 you have to put GMT_Shift = -2

Thank you so kindly!
  • #557
  • Feb 16, 2007 10:41pm Feb 16, 2007 10:41pm
Has anyone thought of Martingaling the reversals with a wider stop?
rsrol
If you can't find it or buy it, build it.
  • #558
  • Feb 16, 2007 10:54pm Feb 16, 2007 10:54pm
Yes...that is what i am doing...(as stated in at least two previous posts), but i use the stop loses that tkimble recommends...

Why do you think a wider stop loss would be an advantage?...if anything it seems a smaller one might be better especially with a martingale approach...but i am open to new ideas...
  • #559
  • Edited 2:44am Feb 17, 2007 1:09am | Edited 2:44am
if it's a doji, you ignore it and look at the previous day trend.
Quoting skyline
Exactly , I don't know how Tkimble handle the doji candle , is doji a bullish or bearish candle ?
Nihil Sine Deo.
  • #560
  • Feb 17, 2007 2:58am Feb 17, 2007 2:58am
Quoting Scrat
if it's a doji, you ignore it and look at the previous day trend.
ok that's fine I will code that in next version , thx
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