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Simple Trading Method with trader101

  • #1,641
  • Oct 3, 2008 10:01am Oct 3, 2008 10:01am
I do think Orest is not human, isn't he? he must be a machine running 24x7 so that many here would like to manipulate this machine if only they like any new idea.

geez...

Quoting matrixebiz
@ orest - Feature request Just wondering if you can add in your indicator the functionality to output its Signal to a Data Buffer window in MT4 for each TF so when it detects Sell (Strong) toggles from 0 to 1, etc
  • #1,642
  • Oct 3, 2008 10:10am Oct 3, 2008 10:10am
Thanks 101 for the explanation.You are great. I have been long since IA was around -71. I am up about 300 dol in 40 mintes on mini account. Woh!
This is unbelievable.
Kris
  • #1,643
  • Oct 3, 2008 10:13am Oct 3, 2008 10:13am
I set up the 14 pair on an FXDD demo (Demo ) last night and the pairs had settled before the London session. The profitcalc indi was signalling short and after looking at the pairs I ran the script to hedge the 14 pair short on a second FXDD account (Demo 2). I fell asleep and when I woke up my demo account was up over 500 pips. So I closed all trades. The only thing that hadn't worked is the close_trades_after_account_profit_reached script which is just as well because I had it set to $200 lol. I'll look at that later.

O.k. so after a cup of coffee I looked at the other indicators and put the orest indicator on Demo 2. The New York session had started about an hour earlier so I was late. The orest indi was signalling a strong long but the profitcalc indi on my other demo still said Short. So I treated it as a test and ran the script to run all buys. About an hour later I checked and I was up 400 pips!! I checked profitcalc and it was indeed signalling Long.

So I'm wondering if this is a valid strategy:

1. Before the major sessions like London and New York check the reference demo to see where the pairs are at

2. Look at the orest indicator and check the movement of the pairs and see what the signal is pre-market

3. Check the profitcalc signal pre market

4. Wait for the market to open and repeat 1 through #3 after an hour (give the trend time to develop)

5. Depending on the orest and profitcalc signals run the hedge_long or hedge_short script. I found that when I looked at the line-up of pairs and the movement that it was screaming Long even if you didn't have the signal at the bottom. So maybe profitcalc lags a little. The ideal would be orest and profitcalc to be in agreement.

It was a fun morning.

Sandy
  • #1,644
  • Oct 3, 2008 10:16am Oct 3, 2008 10:16am
t101...

i was wondering since you know your system better than any others if you could shed a little light on money management specific to your system.

I am not asking what your stop loss should be as you have stated the equivalent of I believe close 560 pips, but more along the lines of what does that 560 pip loss equate to in percentages of your account?

I know others will trade otherwise, but since you know the system better than anyone, i was wondering the parameters that you feel safe and the most confident with.

i finally feel like I am getting a feel for phase 1 with all 14 pairs, but as my earlier post stated, I am kind of shooting in the dark with how much to feel comfortable trading. i know over time I can figure out an answer that fits my comfort level, but if you have an answer that you feel confident in giving that would help shorten the learning curve for some of us.

Hope this question makes sense?

You may have addressed this question elsewhere, but i did not see the answer in my first read.
  • #1,645
  • Oct 3, 2008 10:19am Oct 3, 2008 10:19am
Quoting ES Trader
Thanks 101 for the explanation.You are great. I have been long since IA was around -71. I am up about 300 dol in 40 mintes on mini account. Woh!
This is unbelievable.
Kris

http://www.forexfactory.com/attachme...1&d=1223045199
look nice

Sonic
  • #1,646
  • Oct 3, 2008 10:20am Oct 3, 2008 10:20am
Quoting oldstokey
I wonder though if the 4hr and 1hr should be 'rolling' ie based on the 1 minute bar 240 and 60 mins before current price rather than resetting at each new 4hr and 1hr bar. I think they would be a better reflection of the changing sentiment during the day.
Quoting d-Squared
oldstokey,

I've been wondering exactly the same thing myself. I think this would be a major improvement to an already excellent indicator.
First, I want to thank trader101 for this excellent system, thank you so much for sharing! I am also one of the happy lurkers on this thread.

Also, great thanks to Orest for posting this wonderful indicator, apparently with Julius' blessing. It is very helpful.

I am having excellent results using the original strategy laid out by T101 with the assistance of the Orest indicator, particularly the 3 most current columns (Day, 4hr, 1hr). So, with all due respect, I'd like to make a vote for "If it ain't broke, don't fix it." Things are going great for me just exactly the way they are now, no need to change. Maybe an option could be added later to compare the possibilities once Orest is satisfied that the indicator is complete, but for now I request please leave the timing of the 4hr and 1hr columns the same.

On a side note, I just thought I would let people know Julius was very helpful to me previously as he PM'd me regarding an issue I was having, this was about 6 months ago, long before I knew anything about this strategy. I was very impressed that someone of his stature would take time to help a novice like me without even being asked to do so. Needless to say I was very pleased and excited when I saw this thread introduced, I have been reading dilligently every day and have learned so much. Thank you, thank you , thank you Julius!
  • #1,647
  • Oct 3, 2008 10:38am Oct 3, 2008 10:38am
I just want to have this noted. As i am a proponent of "Giving credit where credit is due". With all due respect to Orest, the start of Orest indicator was started by TrendChaser, please correct that. On this crossroad, TC proceed in the creation of an EA while Orest taking the work of TC proceeded to the perfection of this indicator you are all using now. On the creation of EA by TC, he had completed the first make, however i ask TC to put it hold for now until the completion of all the phases of this method in which case, you might as well remember TC as the original coder. Also soon you will encounter the perfected EA by TC on this method. I hope i got i right because this facts might get lost to the amount of posting coming in every minute. Also I will book mark this post as a reference.
Thanks
T101
Julius
  • #1,648
  • Oct 3, 2008 10:47am Oct 3, 2008 10:47am
Quoting rnhturner
t101...

i was wondering since you know your system better than any others if you could shed a little light on money management specific to your system.

I am not asking what your stop loss should be as you have stated the equivalent of I believe close 560 pips, but more along the lines of what does that 560 pip loss equate to in percentages of your account?

I know others will trade otherwise, but since you know the system better than anyone, i was wondering the parameters that you feel safe and the most confident with.

i finally feel like I am getting a feel for phase 1 with all 14 pairs, but as my earlier post stated, I am kind of shooting in the dark with how much to feel comfortable trading. i know over time I can figure out an answer that fits my comfort level, but if you have an answer that you feel confident in giving that would help shorten the learning curve for some of us.

Hope this question makes sense?

You may have addressed this question elsewhere, but i did not see the answer in my first read.
if you follow the proper money management, the amount you risk is about 5% of your requity, then if you are trading a 0.1 lot you should have at least 10,000 in your account.
  • #1,649
  • Oct 3, 2008 11:06am Oct 3, 2008 11:06am
Quoting rnhturner
See my chart here is saying long and others are saying short?
http://easyvotetoday.com/images/chart1.jpg
I think you've got a problem with your indicator lol
  • #1,650
  • Oct 3, 2008 11:06am Oct 3, 2008 11:06am
ES Trader-
Thanks for the heads up on this interesting correlation. I'll track it to try and make sense of it. You say you've traded this 15 times. What cue did you use to successfully exit? When the IA balance moves back to -$72?


Quoting ES Trader
I saw a very interesting correlation between bottom number on the IA and signal.
The magic number seem to be -$72.00. Whenever the loss exceeds 72 dol on IA go short and vice versa.
I mad atl east 15 trades with this idea and everyone made money.Not sure why there is so much correlation with that number. Or may be just a coincidence.
Kris
  • #1,651
  • Oct 3, 2008 11:11am Oct 3, 2008 11:11am
Leomeister,
may be that is a good idea for exit.try it out. but I have benn just locking up the profit using miniaccount protect or when I feel happy with the amount.
Thanks
Kris
  • #1,652
  • Oct 3, 2008 11:12am Oct 3, 2008 11:12am
@All
The indicator wasn't created spesifically to IBFX. Period. Don't judge anything from the code. These are just names of the variables. I assume if you looking in the code you realize what thet variables are. Only pairs in your properties are actual currencies the indicator looks at.
There is ongoing discussion whether pips for 5 digits pairs like FxPro has calculated properly. I still wasn't proven wrong, so if have any evidences be my guest.

@j84. Thanks for suggestions, but I created those columns based on discussion with Julius. He thinks that's all we need, let's
give him a little trust here. I was thinking about slots numeration, but screen is cluttered enough, so I opted out.

@Leomeister. I caught you! How dare you not to Use MS Office? The thing is I use Wingdings 3 font which is included in MS Office. Probably
has to change to something more common. Thanks for pointing out. BTW, my screen shows jumps from slot#14. Should be no problem.
About pairs: I took them from the Hedge script, is there something wrong?

@rnhturner. I noticed your screen was very weird. Can you try to open normal pairs (w/o "m") on IBFX demo? Yes, ideally indicator should show close signals on all platforms. BTW, long signal was pretty valid for this morning I closed my trades for 450 pips up.

@Autumm. Thank you! Folks if you feel comfortable answering question addressed to me, PLEASE DO!

@Oldstokey. You are absolutely right about looking into XX minutes bars back. It will be impliemented in the next version.

@Matrixbiz. About buffer windows W1-Sell, W1-Buy, D1-Sell, D1-Buy. Interesting idea, maybe , but no promises. You don't want to chain me here for ever, don't you? Will you be trading for me?

@charvo. You are absolutely right, normal human being would be fired long time ago for what I have been doing at my work place. Am I proud for that? Hell, NO!

@nubchai. Profit_calc indicator analyzes your IA (actual trades open) which you open who knows when (I assume last sunday).
In contrary TC101_xxx indicator "pretends" it opens IA 1h , 4h, etc ago and shows you the trend.

Orest
  • #1,653
  • Oct 3, 2008 11:17am Oct 3, 2008 11:17am
Quoting Orest
@Matrixbiz. About buffer windows W1-Sell, W1-Buy, D1-Sell, D1-Buy. Interesting idea, maybe , but no promises. You don't want to chain me here for ever, don't you? Will you be trading for me?
Cool Man, keep me in mind when you have a few minutes to spare this afternoon to code it in for me

Thank you
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #1,654
  • Oct 3, 2008 11:25am Oct 3, 2008 11:25am
ES, you previously said, "Whenever the loss exceeds 72 dol on IA go short and vice versa." And now you said you have been long since loss was around -71. Contradictory. Which rule are you following?

Quoting ES Trader
Thanks 101 for the explanation.You are great. I have been long since IA was around -71. I am up about 300 dol in 40 mintes on mini account. Woh!
This is unbelievable.
Kris
  • #1,655
  • Oct 3, 2008 11:27am Oct 3, 2008 11:27am
Quoting Orest

@Oldstokey. You are absolutely right about looking into XX minutes bars back. It will be impliemented in the next version.
Very much looking forward to this to be included. Thanks for your efforts.
  • #1,656
  • Oct 3, 2008 11:30am Oct 3, 2008 11:30am
Quoting Orest
@All
There is ongoing discussion whether pips for 5 digits pairs like FxPro has calculated properly. I still wasn't proven wrong, so if have any evidences be my guest.
There's still a digit issue for FXPro, here's my screen.

Quoting Orest
@rnhturner. I noticed your screen was very weird. Can you try to open normal pairs (w/o "m") on IBFX demo? Yes, ideally indicator should show close signals on all platforms. BTW, long signal was pretty valid for this morning I closed my trades for 450 pips up.
Orest
I had also the same issue, right click on the market watch left column and click 'show all' and reload your indicator.
Attached Image (click to enlarge)
Click to Enlarge Name: 24.JPG Size: 110 KB
  • #1,657
  • Oct 3, 2008 11:32am Oct 3, 2008 11:32am
I have a question for Trader101.
Tell me, do you still use your IA account, or you abandoned that,
and started to use orests indicator as only indicator???
forexflash
  • #1,658
  • Oct 3, 2008 11:37am Oct 3, 2008 11:37am
djmanu,
FxPro
for LONG trade if price was 1.00000 now it's 1.10000 how many pips do you think you gain?

IBFX, same pair
for LONG trade if price was 1.000 now it's 1.100 how many pips do you think you gain?

Is it different $$$-wise?


Quoting djmanu
There's still a digit issue for FXPro, here's my screen.



I had also the same issue, right click on the market watch left column and click 'show all' and reload your indicator.
  • #1,659
  • Oct 3, 2008 11:59am Oct 3, 2008 11:59am
Well, I was involved with this thread heavily in the first 20 pages, took a few days vacation and came back to over 100 pages and loads of scripts and indis. Trying to catch up on everything. I see some of the great coders have joined the thread -- thank you.

Can someone correct me on a couple points:

It looks like the original indicator account idea has morphed into Orest's indicator? (great job, by the way)

Is the signal to buy all or sell all now when all TFs indicate buy or sell, or the majority or what? Thanks
  • #1,660
  • Oct 3, 2008 12:04pm Oct 3, 2008 12:04pm
Quoting FOREXflash
I have a question for Trader101.
Tell me, do you still use your IA account, or you abandoned that,
and started to use orests indicator as only indicator???
Old habit is hard to abandon, I am still using the old IA way as well as the new Orest way. In the process of transition and trying to say goodbye the my trusted IA which have been my able assistant in the past and help me increase my equity for a long time. But here comes the computer i have to throw my calculator soon.

On a different issue, i think the bucket shops will be saved by the bell. The 700B thingy perhaps will pass when they are closed already.
Julius
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