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Is This My Holy Grail EA :D

  • #1,321
  • Oct 14, 2008 2:35pm Oct 14, 2008 2:35pm
Hi there.

Has anyone found or are in fact using a European or UK based broker that offers pennies per pip trading.

Thanks in advance

James
  • #1,322
  • Oct 14, 2008 3:11pm Oct 14, 2008 3:11pm
For those of you trading the 100+40 1D .02, has anyone had trouble with the EUR/USD ?From 14:46-14:52 GMT today my EA opened 4 first level buy trades back to back then closed all of these but one. It did the same thing again (EUR/USD) between 18:19 and 18:27 but this time it opened 8 first level buy trades back to back then closed all but one. Haven't noticed this happening on any other pairs. Thanks
  • #1,323
  • Oct 14, 2008 7:49pm Oct 14, 2008 7:49pm
And of course the GBPJPY retraced..... Oh well, I can take my lesson.
And Lincoln, if you are running a $100 account, unless you are trading 1/10 of a cent, you are under funded. Good luck however, I hope you can turn that into 100k!
  • #1,324
  • Oct 14, 2008 8:31pm Oct 14, 2008 8:31pm
Nanningbob,
I'm testing out 100/125 ea this week and used your template with the pivot indicator, but I'm not sure if the setting for the time zone is correct. DO we need to adjust the timezone value so it starts at 00:00gmt? right now it is set at 5 ... and in the code it says it should be set at midnight est.
thanks...
  • #1,325
  • Oct 14, 2008 9:12pm Oct 14, 2008 9:12pm
Ive read most of this tread and Im impressed at what it contains. Ive always been a fan of Martingale/grid and my thoughts are exact as Bob's and that is to use penny lots to start these sysytems work great making good money but you have to know how to trade them and when to eat your losses ill be interested to see how this develops over the comming weeks and months

Everyone says these type of EA's will blow your account and they are right if they are not traded correct. But use them correct and you only need to take small losses... never more than 15-20% of your account should be at risk if you trade this style correct.

hope things continue well for all of you.
M4X............ Hedging My Way To Profits!
  • #1,326
  • Oct 14, 2008 11:40pm Oct 14, 2008 11:40pm
Quoting FrostCall
And Lincoln, if you are running a $100 account, unless you are trading 1/10 of a cent, you are under funded. Good luck however, I hope you can turn that into 100k!
I'm trading a $3,000 account, what i meant to say was that my account balance was up $90. I can see how that could be misinterpreted, my apologies.

Since that post about 10 hours ago, the account has only grown $5 - but at least it's still going up!
  • #1,327
  • Oct 15, 2008 12:07am Oct 15, 2008 12:07am
Quoting gerrigirl
Nanningbob,
I'm testing out 100/125 ea this week and used your template with the pivot indicator, but I'm not sure if the setting for the time zone is correct. DO we need to adjust the timezone value so it starts at 00:00gmt? right now it is set at 5 ... and in the code it says it should be set at midnight est.
thanks...
The course I was trained on had it set at this time for trading the euro session and the USA session. If you set it back to 0 I dont think it will move the lines that much since that would only change on how the JPY session is added in. You can try it and see.
  • #1,328
  • Oct 15, 2008 5:55am Oct 15, 2008 5:55am
Quoting El Salon
Hi there.

Has anyone found or are in fact using a European or UK based broker that offers pennies per pip trading.

Thanks in advance

James
Hi
ActiveTrade (UK).............. but 0.01 is = 10 cents, not 1 cent.
ciao
Romano
  • #1,329
  • Oct 15, 2008 6:27am Oct 15, 2008 6:27am
Quoting nanningbob
The course I was trained on had it set at this time for trading the euro session and the USA session. If you set it back to 0 I dont think it will move the lines that much since that would only change on how the JPY session is added in. You can try it and see.
Ok Thanks,
  • #1,330
  • Oct 15, 2008 9:08am Oct 15, 2008 9:08am
You talking about a slow day. I decided to go to .02 a trade and I think I set a record for one day. $1.05 profit, I guess after all the excitement a quiet day was needed.
  • #1,331
  • Edited 9:53am Oct 15, 2008 9:42am | Edited 9:53am
Guys, I tested EA hours settings on 100+401.5D - they work in sense that EA does not trade out of hours specified, but problem is that it does not close orders when going into sleep mode. This results in leaving open positions overnight which most often going into negative.

hope it helps

Also: I put same EA on Alpari on standard setting and encoutered a problem - for EA to behave properly you must set pips to 400 instead of 40, also tp from 100 to 1000.
  • #1,332
  • Oct 15, 2008 9:50am Oct 15, 2008 9:50am
Quoting nanningbob
You talking about a slow day. I decided to go to .02 a trade and I think I set a record for one day. $1.05 profit, I guess after all the excitement a quiet day was needed.
after averaging 3-6% trading demo dimes I set up the penny acct last night and ran it for .6%(I was worried for a moment LOL
  • #1,333
  • Oct 15, 2008 9:54am Oct 15, 2008 9:54am
Quoting Lincoln10
I just read the new trading plan PDF and had a quick question regarding trading rule #10.

If I have a $3,000 account trading .02 lots, and my account eventually rises to $6,000 (pulling out frequent profits of course), then why do you advise opening a second $3,000 account rather than just increasing your lot size to .04 on your $6,000 account? Wouldn't the risk be the same?
Lincoln, go into the code and change the Max trades 5 to a 4 (red line) you then can trade higher lots (blue). See example below. You will have 4 reentries the 4th being at 500 pips. EA range 5-600 pips. You then could make more money but still stay in range. I would be very careful with the GBP/CHF, GBP/JPY and the EUR/JPY. In fact dont trade them with the higher figures or keep them at the lower figures. Here are the figures for a 5-600 range EA first level is the top number.

Those of you who have an account where .01 is ten cents you could try it with this and see how it works. All you would need to do is change the levels from 5 to 4 and leave it at .01 lots and you would be getting the .10 column. Maybe with this EA set at these figures you might be able to keep it safe. The reentries would be the .10 cent column (green). You could change the stop loss to 600 or 650. (orange)

.01 .02 .03 .04 .05 .10
.03 .06 .09 .12 .15 .30
.09 .18 .27 .36 .45 .90
.27 .54 .81 1.08 1.35 2.70


sb="--TRADE SETTING--";
extern double Lots = 0.02; // We start with this lots number
extern int TakeProfit = 100; // Profit Goal for the latest order opened
extern bool MyMoneyProfitTarget=False;
extern double My_Money_Profit_Target=50;
extern double multiply= 3.0;
extern int MaxTrades= 5; // Maximum number of orders to open
extern int Pips= 125; // Distance in Pips from one order to another
extern int StopLoss = 800; // StopLoss
extern int TrailingStop = 0;// Pips to trail the StopLoss
  • #1,334
  • Oct 15, 2008 11:03am Oct 15, 2008 11:03am
Quoting nanningbob
You talking about a slow day. I decided to go to .02 a trade and I think I set a record for one day. $1.05 profit, I guess after all the excitement a quiet day was needed.
What system was that? I've made over $50 a day on the new system playing the 8 recommended pairs non-stop (with .01 a trade!) - currently I'm up $123.36 after two and half days.
  • #1,335
  • Oct 15, 2008 2:09pm Oct 15, 2008 2:09pm
Question for you Lincoln, are you closing any trades (death trades) or just letting things go? Also, what kind of draw down are you getting? I ask because I'm testing some other settings and I'm very interested in how that system is doing.
  • #1,336
  • Oct 15, 2008 2:33pm Oct 15, 2008 2:33pm
I've been trading the new system non-stop since 9:30 PM EST Sunday night. It's up $301.95 with about a -$40 floating equity right now. Largest drawdown was -$308.14 on Monday. I like it. Thanks Bob.
  • #1,337
  • Oct 15, 2008 4:39pm Oct 15, 2008 4:39pm
I feel that in order for me to develop a system to defend against the death trade, I must first be able to define it.

So far, I'm thinking about defining a death trade as:

A major, long term trend, that shifts is the opposite direction than when you entered the trade; that does not have a high probability to retrace within the boundaries of either your chosen time frame or your resources.

Critiques? Suggestions?
  • #1,338
  • Oct 15, 2008 4:42pm Oct 15, 2008 4:42pm
Quoting FrostCall
I feel that in order for me to develop a system to defend against the death trade, I must first be able to define it.

So far, I'm thinking about defining a death trade as:

A major, long term trend, that shifts is the opposite direction than when you entered the trade; that does not have a high probability to retrace within the boundaries of either your chosen time frame or your resources.

Critiques? Suggestions?
You should include " . . . and will never hit a stop-loss"

You ARE using a stop-loss, aren't you
  • #1,339
  • Oct 15, 2008 5:51pm Oct 15, 2008 5:51pm
Quoting Lincoln10
What system was that? I've made over $50 a day on the new system playing the 8 recommended pairs non-stop (with .01 a trade!) - currently I'm up $123.36 after two and half days.
Well, the market sure moved this afternoon after a quiet morning.
  • #1,340
  • Oct 15, 2008 6:12pm Oct 15, 2008 6:12pm
Quoting FrostCall
I feel that in order for me to develop a system to defend against the death trade, I must first be able to define it.

So far, I'm thinking about defining a death trade as:

A major, long term trend, that shifts is the opposite direction than when you entered the trade; that does not have a high probability to retrace within the boundaries of either your chosen time frame or your resources.

Critiques? Suggestions?
That pretty much nailed it... however it really is all about time frames and perspective.... How are you defining long term trend... the 4hr, the daily, weekly or monthly? When the bot is running, our mindset is really on the 5 or 15 min chart, realistically....
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