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Part Time Wealth Building Trading System - Daily Scalping

  • #1,041
  • Mar 5, 2007 6:49am Mar 5, 2007 6:49am
Quoting howard
See post 650
Many thanks my friend
Liberate me ex inferis
  • #1,042
  • Mar 5, 2007 9:03am Mar 5, 2007 9:03am
Here's my latest statement with my demo account using Daily Scalping EA v1.0e (started with v1.0d) on GBPUSD and GBPJPY : http://www.divshare.com/download/190614-f5c

Quite nice gain using 4% risk per trade with MoneyManagement enabled and max 2 losses per day per pair from 10000$ to 17000$
  • #1,043
  • Mar 5, 2007 9:48am Mar 5, 2007 9:48am
Quoting skyline
Here's my latest statement with my demo account using Daily Scalping EA v1.0e (started with v1.0d) on GBPUSD and GBPJPY : http://www.divshare.com/download/190614-f5c

Quite nice gain using 4% risk per trade with MoneyManagement enabled and max 2 losses per day per pair from 10000$ to 17000$
Hi Skyline. Nice results. Do you set a Take Profit on the EA?

Also, today my version , set to 2 maxtrades, stopped out 4 trades. I don't understand why that happened. It was on GBPJPY pair on IBFX Starting at 0 GMT. Thanks for any advice.
Don Life is expensive, but includes a free trip around the sun.
  • #1,044
  • Mar 5, 2007 10:36am Mar 5, 2007 10:36am
Quoting traderone
Hi Skyline. Nice results. Do you set a Take Profit on the EA?

Also, today my version , set to 2 maxtrades, stopped out 4 trades. I don't understand why that happened. It was on GBPJPY pair on IBFX Starting at 0 GMT. Thanks for any advice.
I had the same on G/J. first trade hit TP, then opened 4 more sells and stopped out all on the first hour candle. Still made 40 pips, but damn.
  • #1,045
  • Mar 5, 2007 11:27am Mar 5, 2007 11:27am
Hi everyone,

I was working this system with fixed TP, is the 3rd straight week I start with 100 pips gain on sunday night, the first one I stopped to trade for the rest of the week since I was above my weekly goal and was a complicated week if JPY is about (interest rate statement), last week I took 200 pips net gain, this one I decided to try "riding" the trend, but I have noticed something that I need to clarify. i have not a way to determine when the trend is gone...I mean, I am talking about any indicator that can let me know a trend is about to expire...Can anybody give me some advice on this? It would be largely appreciated.

Regards
  • #1,046
  • Mar 5, 2007 11:51am Mar 5, 2007 11:51am
Ok, so I have setup the Daily Scalping EA on the GPB/JPY but one thing puzzles me: Below the magic number it says "Next Trade:None". What does this mean? Have I setup the EA incorrectly? Here are my settings:

[IMG]file:///C:/DOCUME%7E1/test/LOCALS%7E1/Temp/moz-screenshot.jpg[/IMG]

Any ideas?
Attached Image
Liberate me ex inferis
  • #1,047
  • Mar 5, 2007 12:04pm Mar 5, 2007 12:04pm
1.0e it doesn't start on my MT; i dropped it on an h1 chart, it's enabled both on MT menu and its own setup window. there's a smiley face in the upper right corner (which means that everything should be fine), but it doesn't initiate any trade.
any advice?

p.s. and of course, same message: "Next Trade: NONE"
Nihil Sine Deo.
  • #1,048
  • Mar 5, 2007 12:10pm Mar 5, 2007 12:10pm
Could it be waiting for the new trading day to start?

Quoting Scrat
1.0e it doesn't start on my MT; i dropped it on an h1 chart, it's enabled both on MT menu and its own setup window. there's a smiley face in the upper right corner (which means that everything should be fine), but it doesn't initiate any trade.
any advice?

p.s. and of course, same message: "Next Trade: NONE"
  • #1,049
  • Edited 12:37pm Mar 5, 2007 12:21pm | Edited 12:37pm
well, it might sound too complicated, but i'm using something called RAVI (and sometime for fun, HAMA). there's probably a simpler way, but i'm familiar with this one. at least it's showing me when the market is ranging.
i don't know if there's one you can consider as very accurate because each has a certain lag. choose one that you understand and use multiple time frames. that's what i do.
the beauty of this method is that you don't need indicators... you only need to stay away during ranging periods to avoid being chopped. that's it.

Quoting toti1972
Hi everyone,

i have not a way to determine when the trend is gone...I mean, I am talking about any indicator that can let me know a trend is about to expire...Can anybody give me some advice on this? It would be largely appreciated.

Regards
Nihil Sine Deo.
  • #1,050
  • Mar 5, 2007 12:30pm Mar 5, 2007 12:30pm
Quoting Scrat
well, it might sound too complicated, but i'm using something called RAVI (and sometime for fun, HAMA). there's probably a simpler way, but i'm familiar with this one. at least it's showing me when the market is ranging.
i don't know if there's one you can consider as very accurate because each has a certain lag. choose one you that you understand and use multiple time frames. that's what i do.

Thanks for your answer, can i find this indicator in metatrader platform? i'd like to see how it works...

Thanks
  • #1,051
  • Mar 5, 2007 12:36pm Mar 5, 2007 12:36pm
you can find it here. just drop it in your MT/experts/indicators folder and then restart MT.

Quoting toti1972
Thanks for your answer, can i find this indicator in metatrader platform? i'd like to see how it works...

Thanks
Nihil Sine Deo.
  • #1,052
  • Mar 5, 2007 12:40pm Mar 5, 2007 12:40pm
New daily candle is 1hr away...according to the rules we should be long at the open but it looks like a strong downtrend for guppy....thoughts??
CRAIGSLIST BARTERING CHAMPION
  • #1,053
  • Mar 5, 2007 2:01pm Mar 5, 2007 2:01pm
If we are to comply with the rules we should go long both GJ and GU; if markets continue their down trend we will get reversed at -40
Regards
  • #1,054
  • Mar 5, 2007 2:17pm Mar 5, 2007 2:17pm
Quoting hondakorn
New daily candle is 1hr away...according to the rules we should be long at the open but it looks like a strong downtrend for guppy....thoughts??
Hello hondakorn - midnight gmt is still 1 hr and 45 minutes away.

DW
  • #1,055
  • Mar 5, 2007 2:20pm Mar 5, 2007 2:20pm
Quoting driftwood
Hello hondakorn - midnight gmt is still 1 hr and 45 minutes away.

DW
according to my broker and dailyfx, the new day candle opens at 5est
CRAIGSLIST BARTERING CHAMPION
  • #1,056
  • Mar 5, 2007 2:25pm Mar 5, 2007 2:25pm
Quoting hondakorn
New daily candle is 1hr away...according to the rules we should be long at the open but it looks like a strong downtrend for guppy....thoughts??
I agree with you here. I'm torn and discretion may give way. Both GBPUSD and GBPJPY will probably be effected equally here. I am going to set entry levels as opposed to jumping in at market at the moment.
  • #1,057
  • Mar 5, 2007 2:30pm Mar 5, 2007 2:30pm
Quoting hondakorn
according to my broker and dailyfx, the new day candle opens at 5est
Hello hondakorn - I agree as with my broker, but TKimble sure says on post 1 on this thread:-
"2. Enter Buy/Sell order upon (Sunday or Monday) open at 2400 GMT"
so I put order after 24.00GMT on my broker but used IBFX charts to asess candles. But if it work for you as you do then very good and I sorry

DW
  • #1,058
  • Mar 5, 2007 2:34pm Mar 5, 2007 2:34pm
That's right. My FXDD accounts have already traded at 5 EST.

My IBFX waits until 7 EST or 0 GMT. So I can compare results!!
Don Life is expensive, but includes a free trip around the sun.
  • #1,059
  • Mar 5, 2007 2:35pm Mar 5, 2007 2:35pm
Quoting driftwood
Hello hondakorn - I agree as with my broker, but TKimble sure says on post 1 on this thread:-
"2. Enter Buy/Sell order upon (Sunday or Monday) open at 2400 GMT"
so I put order after 24.00GMT on my broker but used IBFX charts to asess candles. But if it work for you as you do then very good and I sorry

DW
no worries....Ive been using 5est with good results.
CRAIGSLIST BARTERING CHAMPION
  • #1,060
  • Mar 5, 2007 2:52pm Mar 5, 2007 2:52pm
I've just started using the ea from Skyline but tonight it didn't entered a buy on JPY and GBP and got stopped but then it entered further buys instead of reversing to sells.

Have I got some settings wrong or has anybody else had this problem?

Thanks.
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