Part Time Wealth Building Trading System - Daily Scalping

Quoting yezbick

Disliked

I have been using the following settings in Rhythm v.2

Overrule Direction = False
Direction Long False = False
EntryTimeHour = 0
ExitTimeHour = 0
MaxTrades = 6
TrailOnceStop = False
TrailStop = False
StopLoss = 40
TakeProfit = 0


I like to adjust the SL at the end of the day to be able to keep the spread and not repay it so I have set the software to not exit the market. I have not been adjusting the weekly trades SL.

The above setting was for the GBPJPY I have adjusted the rest of the pairs that I am running this on to 5 MaxTrades for the week.

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Quoting alamanjani

Disliked

Skyline's EA is great! It follow Tkimble's rules.

With:

- trailing stop and
- 'set break even after so many pips in the profit'

...would be perfect, since you could try and set many different combinations based on the market condition. But these aren't original Tkimble's rules, that is true. Anyway, I love Skyline's EA.

Rhythm EA don't switch trend automatically but this is not the problem. Sometimes you want to change direction after one day if move is big, for example, sometimes you want to stay in the same trend longer time, so option, to set trade direction manually is not bad idea. Perfect would be if you can have both, EA enter orders based on Tkimbles rule, but you can override them manually if you wish.

BUT - Rhytm EA is useless as it is, since it does not place order next day after target profit gets hit. Now, if you are home everyday and you can restart MT4 every time before new daily candle start, then is OK. But if you are away for a whole week you can't use it - it will not do it's job, every day, to place new order.

Since someone paid for EA it should be corrected so it could be useful. Programmer said, this was not part of the deal. I don't believe, the guy who ordered and paid it, he would agree to this condition if he would know for it. There was clearly misunderstanding. It happens.

This is good lesson for me. I can see myself in the same position. I will some day need EA, I will pay, there will be misunderstanding and I will get answer, pay more if you wish, that EA will work.

When I will need programmer to put my idea into code, I will do good research first, what programmer did in the past and how he treated his customers. I don't want to get stuck with non operating EA after I would already paid for it.

These forums, can be good promotion for programmers. But can be opposite too.

If I would be programmer I wouldn't mind invest extra hour or two, if there would be some misunderstanding, since this could attract more potential customers.

Enuf said...

GBP.JPY performed great last two days with daily strategy!

Ignored

Quoting alamanjani

Disliked

Skyline's EA is great! It follow Tkimble's rules.

With:

- trailing stop and
- 'set break even after so many pips in the profit'

...would be perfect, since you could try and set many different combinations based on the market condition. But these aren't original Tkimble's rules, that is true. Anyway, I love Skyline's EA.

Rhytm EA don't switch trend automatically but this is not the problem. Sometimes you want to change direction after one day if move is big, for example, sometimes you want to stay in the same trend longer time, so option, to set trade direction manually is not bad idea. Perfect would be if you can have both, EA enter orders based on Tkimbles rule, but you can override them manually if you wish.

BUT - Rhytm EA is useless as it is, since it does not place order next day after target profit gets hit. Now, if you are home everyday and you can restart MT4 every time before new daily candle start, then is OK. But if you are away for a whole week you can't use it - it will not do it's job, every day, to place new order.

Since someone paid for EA it should be corrected so it could be useful. Programmer said, this was not part of the deal. I don't believe, the guy who ordered and paid it, he would agree to this condition if he would know for it. There was clearly misunderstanding. It happens.

This is good lesson for me. I can see myself in the same position. I will some day need EA, I will pay, there will be misunderstanding and I will get answer, pay more if you wish, that EA will work.

When I will need programmer to put my idea into code, I will do good research first, what programmer did in the past and how he treated his customers. I don't want to get stuck with non operating EA after I would already paid for it.

These forums, can be good promotion for programmers. But can be opposite too.

If I would be programmer I wouldn't mind invest extra hour or two, if there would be some misunderstanding, since this could attract more potential customers.

Enuf said...

GBP.JPY performed great last two days with daily strategy!

Ignored

Quoting alamanjani

Disliked

Skyline's EA is great! It follow Tkimble's rules.

With:

- trailing stop and
- 'set break even after so many pips in the profit'

...would be perfect, since you could try and set many different combinations based on the market condition. But these aren't original Tkimble's rules, that is true. Anyway, I love Skyline's EA.

Ignored

Quoting skyline

Disliked

Ohh that's strange, the file is still on divshare and it was downloaded 190 times
Anyway thx Scrat for reposting it

Ignored

Quoting thierrybl

Disliked

Thanks for your EA.
Would it be easy to have the MAGIC NUMBER as an external variable in order to have two orders with different setting on THE SAME PAIR ?
What I mean is to have 1 lot close w/ a TP 50 pips and 1 lot w/ no TP and close at the end of day.
I tried to modified Ea and simply set Magic as "extern int" but it doesn't work because Ea calculate Magic according to the pair.

Thanks

Thierry

Ignored

Quoting karl

Disliked

Thank you for your EA I downloaded and is working. But after the 00:00 Gmt orders the ea initiated further orders. Is that correct? I am using version e. karl

Ignored

Quoting alamanjani

Disliked

BUT - Rhytm EA is useless as it is, since it does not place order next day after target profit gets hit.

Ignored

Quoting else

Disliked

Hi Everyone,

I appreciate the work that you all have put into this thread and the system particular but i am struggling with the settings on the EA.
can anyone post a list of instructions in the same order as the variables? I understand some of them but am struggling with a few highlighted below.

GMT_Shift=2.00000000
TakeProfit=200
StopLoss=50
HourToCloseOrders=17
SundayCandleExists=1 - I understand what this is but what effect does it have? (it doesn't take care about sunday candle if exists)
Lots=0.30000000
UseMoneyManagement=0 - How do you use this? (it's money management routine, if set to 1 it's actived and lot size is handled automatically by EA , otherwise you have to set manually Lot size in Lots variable)
Risk=0 - What does this refer to? (it's referred to previuous variable and it's used only if UseMoneyManagement = 1. It's the risk in percentage of your account equity that you want EA will set automatically)
Slippage=3
MaxLossesTradesPerDay=2 - Is this the max number of trades that are stopped and reversed? (It's the maximum number of losing trades allowed per day. So if you set it to 2 , if EA will hit 2 losses then EA will not enter any further order until next day)

Thanks in advance

Andy

Ignored

Quoting bmartin004

Disliked

looking at 2/27 you would have gone into the day short GBPUSD @ 1.9629 (approximately) if you placed SL/SAR @ 40 pts that would have been 1.9669, then you stop out -40, then SAR goes to 1.9629 again, which is SAR, then you hit the stop again at 1.9669, then you hit top again at 1.9629, this went on 5 or 6 times, that is a huge loss on the day. Did I get the entries right or am I doing something wrong? 2/28 is a 100pt gainer but you are still negative over the two days. Could someone please confirm this.
Thanks
B.

Ignored

Quoting skyline

Disliked

Hi



cya,
Skyline

Ignored