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Part Time Wealth Building Trading System - Daily Scalping

  • #981
  • Feb 28, 2007 9:22pm Feb 28, 2007 9:22pm
Quoting aktur
This is not true. Session end resets everything. Perhaps you are using it in weekly settings (default).

If is not true, then I owe you an apology. If you made EA for free, as you wrote in previous msg, then I owe you even a bigger apology. So, I'm sorry!

When I tried Rhytm, it stopped after TP was hit and didn't place orders for the rest of the week. I rememer few other posted the same behavior and your response how this is out of original deal so I assumed nothing was changed.

Apparently I'm (was) wrong, so please accept my apology!
  • #982
  • Feb 28, 2007 9:30pm Feb 28, 2007 9:30pm
Quoting aktur
Can you elaborate why you would like to stop trading after TP? Any proof of increased profitibility?
I don't want. Looks like, my lack of English caused misunderstanding. I don't want EA to stop trading after TP is hit, but Rhytm I was testing did stop trading for a whole week.

Quoting aktur
Rhythm resets all stuff when new session begins, IMHO setting starting and ending session times wisely is much better approach. This is at least how I'm trading live account with my hard earned money.
Agree, sorry for confuzion.
  • #983
  • Feb 28, 2007 9:35pm Feb 28, 2007 9:35pm
Quoting skyline
Well I think those 2 changes could be coded in the EA without change the meaning of the original rules since are some basic common routines that every EA should get in. So I think in next version v1.0f I will add them and you will test if EA will work fine eheheh
Skyline, cool, great and thank you!
  • #984
  • Mar 1, 2007 7:08am Mar 1, 2007 7:08am
great week for me g-y im up 230pips and I missed the freefall...lol...I didnt even bother with cable
CRAIGSLIST BARTERING CHAMPION
  • #985
  • Mar 1, 2007 7:28am Mar 1, 2007 7:28am
Anyone still trading the cable? I am on my forth week trading it with this system and I am up 42pips overall. Are these the expected results or has it just been a bad run. I have realy considered also using the GBP/JPY. How have everyone been doing with this pair? Profitable over last 4 weeks?
  • #986
  • Mar 1, 2007 7:48am Mar 1, 2007 7:48am
Pound/Yen is about the only pair that actually moves these days. Tripled my mini account in 3 days using horrible money management trading it.
All the dollar pairs have been sitting in one spot for at least a week boring the pants off of everybody.
  • #987
  • Mar 1, 2007 8:25am Mar 1, 2007 8:25am
Quoting skyline
You can use the same EA over the same pair with different timeframe since the magic number is unique and calculated for each pair and timeframe. So at the end you will have the EA running for example with GBPUSD on H1 and GBPUSD on M30 (that it should works fine too over that timeframe).
Anyway i never tried directly what you want to do , so pls try and report if it's work as I'm guessing.

P.S. : Looking more deeply how is working EA should work fine with all timeframe (not only in H1 timeframe as I stated on EA), but I didn't checked yet, if someone could check for me it will be great
Thanks for your quick answer. I will try that and report results.
I have another question : I had 2 order set today, a BUY on Gbpusd an a BUY on Gbpjpy.
Gbpjpy was stopped out but Ea did not set a reverse order. Is that normal ?

Thanks

Thierry
  • #988
  • Mar 1, 2007 9:23am Mar 1, 2007 9:23am
Quoting schoe
This is my contribution to this method.Look at this thead on StrategyBuilder Fx http://www.strategybuilderfx.com/showthread.php?t=17300 Attach the daily range indicator to give the daily range of any given pair then divide by 4 for the best stop and reverse.

The method described is very similar to TK'S system but may actually work better with less whipsaws as it is more dynamic as it takes into account the daily range changes and enters from the high or the low. I will let the back testers test it and hopefully post the results.
has anyone looked at above and if so what are your thoughts,
gary
  • #989
  • Mar 1, 2007 9:31am Mar 1, 2007 9:31am
Quoting thierrybl
Thanks for your quick answer. I will try that and report results.
I have another question : I had 2 order set today, a BUY on Gbpusd an a BUY on Gbpjpy.
Gbpjpy was stopped out but Ea did not set a reverse order. Is that normal ?

Thanks

Thierry
Did you check your setting? how much is your MaxLossesTradesPerDay ?

I had 2 buy orders too today , one on gbpusd and one on gbpjpy.
I had set MaxLossesTradesPerDay=2 infact i was stopped out twice on gbpusd so that no more trading for me on that pair until tomorrow.
On gbpjpy i was stopped out one time and the next one was closing by TP hit (200 pips) so also for this pair trading are closed today.
Is this your situation ?

cheers,
Skyline
  • #990
  • Mar 1, 2007 9:42am Mar 1, 2007 9:42am
Quoting tim4kaye
Skyline - How do I stop your ea from buy or selling additional contracts on the same pair. If I go from one time frame to another on the same pair it keeps buying/selling.

Thanks - Tim
Can anyone shed some light on this problem? I do not want a trade on each time frame for the same pair.

Thanks - Tim
  • #991
  • Mar 1, 2007 9:54am Mar 1, 2007 9:54am
Quoting tim4kaye
Can anyone shed some light on this problem? I do not want a trade on each time frame for the same pair.

Thanks - Tim
Sorry I missed your question
And I'm not really sure to get it , could you explain with a screenshot on what happened on your charts?

thx
  • #992
  • Mar 1, 2007 10:12am Mar 1, 2007 10:12am
Quoting skyline
Sorry I missed your question
And I'm not really sure to get it , could you explain with a screenshot on what happened on your charts?

thx
I opened the EA on the 1HR chart and everything was fine. I then changed to the 15 minute chart to get a closer look and price action and the EA got me in another trade. I then went to the 30 minute chart (all on the same currency pair) and another trade was entered. I then had (3) trades on the same pair and not all in the same direction, when I only wanted the original trade that was enetered at 00:00 GMT based on the 1HR chart.

All I want to do is to be able to look at other time frames without opening new trades.

Thank you,

Tim
  • #993
  • Edited 10:43am Mar 1, 2007 10:18am | Edited 10:43am
You know, when I try to compile the Skyline 1.0e I keep getting

"OrdersHistorytotal" - function not defined

The EA is always grayed out.

This is on IBFX build 202.

Any ideas? The same file works perfectly on FXDD build 202...

Thanks for any advice.
Don Life is expensive, but includes a free trip around the sun.
  • #994
  • Mar 1, 2007 10:42am Mar 1, 2007 10:42am
not sure about everyone else but I think there should be a sep EA thread....imho
CRAIGSLIST BARTERING CHAMPION
  • #995
  • Mar 1, 2007 11:24am Mar 1, 2007 11:24am
Quoting tim4kaye
I opened the EA on the 1HR chart and everything was fine. I then changed to the 15 minute chart to get a closer look and price action and the EA got me in another trade. I then went to the 30 minute chart (all on the same currency pair) and another trade was entered. I then had (3) trades on the same pair and not all in the same direction, when I only wanted the original trade that was enetered at 00:00 GMT based on the 1HR chart.

All I want to do is to be able to look at other time frames without opening new trades.

Thank you,

Tim
It's strange what you said, I will take a look.
Anyway as a suggest when an EA is in place on a chart it could be a good idea to don't change the timeframe and opens another chart to play with


Skyline
  • #996
  • Mar 1, 2007 11:26am Mar 1, 2007 11:26am
Quoting hondakorn
not sure about everyone else but I think there should be a sep EA thread....imho
I will be happy to open a new thread for EA but the GREAT limit of this board is that user that started a thread cannot modify further the first post after 48 hours or something like that leading to confusion inside the whole thread on which one is last version and something like this
(I experienced this over my Firebird's EA old post)
  • #997
  • Mar 1, 2007 11:28am Mar 1, 2007 11:28am
Quoting skyline
I will be happy to open a new thread for EA but the GREAT limit of this board is that user that started a thread cannot modify further the first post after 48 hours or something like that leading to confusion inside the whole thread on which one is last version and something like this
(I experienced this over my Firebird's EA old post)
oh ok...just venting...im actually in the process of testing the ea...it would save me alot of time since I work during the day, but I could monitor it from my laptop also....
CRAIGSLIST BARTERING CHAMPION
  • #998
  • Mar 1, 2007 11:43am Mar 1, 2007 11:43am
Hi everybody

at what GMT position should be closed according to TK, pls help someone
  • #999
  • Mar 1, 2007 11:51am Mar 1, 2007 11:51am
Quoting sanjaysingh21k
Hi everybody

at what GMT position should be closed according to TK, pls help someone
me thinks its between 22-2300
CRAIGSLIST BARTERING CHAMPION
  • #1,000
  • Mar 1, 2007 12:28pm Mar 1, 2007 12:28pm
Quoting bmcorcoran
Anyone still trading the cable? I am on my forth week trading it with this system and I am up 42pips overall. Are these the expected results or has it just been a bad run. I have realy considered also using the GBP/JPY. How have everyone been doing with this pair? Profitable over last 4 weeks?
I'm still only trading the cable and had three really successful weeks. Today was my first losing trade of the last three weeks. How? Well I've changed the exit strategy. As I tend to be a nervous trader, I've found that I like to bank profits before I leave for work in the morning - so I exit the trade between 8.00am and 8.30am. Ok, so I've missed a couple of 100 pip wins, but I've also bagged smaller profits.

I'm up 361 pips in the last three weeks. I've backtested this theory against the method for holding all day and it does comparably well. As I said you don't get the huge pip profit days, but you do consistently bag 30-40 pips overnight on an average night.

I've found that the best take-profit limit order for overnight is 60 pips (which still gives a risk/reward ratio of 1 to 1.5 - which is acceptable). If I'd had that set the night before last I would have added an additional 27 pips to the total. But still, I'm happy with this.

Thanks for the strategy, Tkimble. I hope you don't mind that I've altered it to suit my own trading style.
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