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Part Time Wealth Building Trading System - Daily Scalping

  • #1,101
  • Mar 7, 2007 6:40am Mar 7, 2007 6:40am
what was the opening for today at gbp/jpy for the system?
  • #1,102
  • Mar 7, 2007 7:34am Mar 7, 2007 7:34am
Quoting FXfreak
what was the opening for today at gbp/jpy for the system?
It depends on your broker for exact opening value.
Using FastbrokersFX it was 226.03 on GBPJPY
  • #1,103
  • Mar 7, 2007 7:58am Mar 7, 2007 7:58am
Quoting G550
Sure did on GBPJPY! And got stopped out twice....argh!!!
What time did u enter? I entered at 5est and hit my tp 80...dailyfx candle opened at 225.18
CRAIGSLIST BARTERING CHAMPION
  • #1,104
  • Mar 7, 2007 9:13am Mar 7, 2007 9:13am
Quoting Al_Have1
Skyline, Sorry if I missed this in a thread somewhere but what changes did you make in your EA from "1.0e" to "1.0f"?
Just look here
http://www.forexfactory.com/showpost...postcount=1096
  • #1,105
  • Mar 7, 2007 9:24am Mar 7, 2007 9:24am
Thank you for all your hard work on the EA!!!


Many thanks,

TIM
  • #1,106
  • Mar 7, 2007 9:26am Mar 7, 2007 9:26am
Quoting tim4kaye
Thank you for all your hard work on the EA!!!


Many thanks,

TIM
You're welcome Tim
  • #1,107
  • Mar 7, 2007 10:14am Mar 7, 2007 10:14am
Quoting hondakorn
What time did u enter? I entered at 5est and hit my tp 80...dailyfx candle opened at 225.18
I entered a little after 5pm. I was up +60 but it soared back down to stop me out. I rode it back down and took +50 to break even, but then entered again...actually twice...that was my fault. I should have stopped after break even.

I didn't want to take profits initially because this pair has been moving so much that I did not want to miss out on a big move like I did most of last week.
  • #1,108
  • Mar 7, 2007 11:33am Mar 7, 2007 11:33am
Quoting G550
I entered a little after 5pm. I was up +60 but it soared back down to stop me out. I rode it back down and took to break even, but then entered again...actually twice...that was my fault. I should have stopped after break even.

I didn't want to take profits initially because this pair has been moving so much that I did not want to miss out on a big move like I did most of last week.

Funny, G. That's exactly what I did. I did have an initial trailing stop on and took +52 (could/should have been 80+), but like you said, because it has moved so well recently, I then went with a reverse off my TP stop, and it was all down hill from there with me getting whipped out a few times in the next few hours.

I really like trading this system though, as long as the range is there and you catch it, it's great.
  • #1,109
  • Mar 7, 2007 1:30pm Mar 7, 2007 1:30pm
On Post #1, it says, in part, ..."buy & then immediately sell side order 40 pip away..."

This must be a LIMIT sell order----correct?

I'm real new at this. Thnx for the strat.

Sid
  • #1,110
  • Mar 7, 2007 1:32pm Mar 7, 2007 1:32pm
Quoting yendis70
On Post #1, it says, in part, ..."buy & then immediately sell side order 40 pip away..."

This must be a LIMIT sell order----correct?

I'm real new at this. Thnx for the strat.

Sid

Actually it is a sell STOP order.

A little confusing I know. It takes a while to get it all down.

yezbick
  • #1,111
  • Mar 7, 2007 3:17pm Mar 7, 2007 3:17pm
I've been trying the scalping for a few days now, with mixed results. However I'm interested in the EA scripts you have. I'm running with esignal for chart analysis and so cannot try the scripts. What platforms are you guys running to use the EA's? I've looked at the meta quote website but that seems high end, so much so that there is no price info.

Any info on your platforms would be good. Also I deal with Igindex in the UK. Is anyone else dealing with them from your systems?


thanks!
  • #1,112
  • Mar 7, 2007 3:50pm Mar 7, 2007 3:50pm
Quoting uktracker
I've been trying the scalping for a few days now, with mixed results. However I'm interested in the EA scripts you have. I'm running with esignal for chart analysis and so cannot try the scripts. What platforms are you guys running to use the EA's? I've looked at the meta quote website but that seems high end, so much so that there is no price info.

Any info on your platforms would be good. Also I deal with Igindex in the UK. Is anyone else dealing with them from your systems?


thanks!
I don't use EA's but MT4 is free, and lends itself very well to custom scripts and EA's, that's why it has such a popular following here.

You can download it for free from www.strategyBuilderFX.com and also Metaquotes (there may be others).

You can then just use it as a demo/test platform, or actually trade live from it, as it has several brokers that will allow you to trade with them and use MT4.
  • #1,113
  • Mar 7, 2007 4:54pm Mar 7, 2007 4:54pm
I tried a new add on to the strategy on Tuesday. I left the trade I had in from Monday night going long (up 300 pips on the GBP/JPY) and at 2400 GMT, I brought my stop up to 40 pips below the price point. Then I entered in with a new trade with the daily strategy.

Even though the pair turned down and stopped out both my trades, my trade from Monday made 434 pips instead of 300. And my sell order was filled, which I made 95 pips, with an original loss on my buy trade for the day of 40 pips, overall 55 pips on the tuesday daily trades. (All on the GBP/JPY)

This is my first week with this system, but something to look at. So far I have made 950 pips on the GBP/JPY this week.

Thanks tkimble, I love the system.

Yerac
  • #1,114
  • Mar 7, 2007 8:27pm Mar 7, 2007 8:27pm
Actually it is a sell STOP order.

A little confusing I know. It takes a while to get it all down.

yezbick


Thnx, yezbick.

Sid
  • #1,115
  • Mar 7, 2007 9:39pm Mar 7, 2007 9:39pm
I really like the volatility of the GbpJpy, however the spread is a bit difficult especially when your 100 pip TP has been reashed on the close but the bid or ask is not there and then the price retraces, drive you nuts. Has anyone had any good ideas for this, or had any success with a strategy to avoid this.

Also has anyone tried putting a SL in at 100 and letting the trade go beyond 100 tp to try and grab some bigger moves. If this has been asked before and I apologize I didn't think I saw it in the log.
Cheers
Bmartin004
  • #1,116
  • Mar 7, 2007 11:47pm Mar 7, 2007 11:47pm
Quoting bmartin004
I really like the volatility of the GbpJpy, however the spread is a bit difficult especially when your 100 pip TP has been reashed on the close but the bid or ask is not there and then the price retraces, drive you nuts. Has anyone had any good ideas for this, or had any success with a strategy to avoid this.

Also has anyone tried putting a SL in at 100 and letting the trade go beyond 100 tp to try and grab some bigger moves. If this has been asked before and I apologize I didn't think I saw it in the log.
Cheers
Bmartin004
I have not had any trouble with only a 40 pip stop loss, as long as I get in at 6pm central time. If I get stopped out, my opposite trade has so far always cleared at least 100 pips.
  • #1,117
  • Mar 8, 2007 1:45am Mar 8, 2007 1:45am
Can you please give your TIME in GMT or EST. thanks. karl
  • #1,118
  • Mar 8, 2007 1:48am Mar 8, 2007 1:48am
I don't know if its just me i'm trying the weekly and the daily using the EA on a demo and my account has taken a bit of a beating this week. Trading 0.3 lots its down 2000 dollars from last week.

How is everybody else doing?
  • #1,119
  • Mar 8, 2007 2:38am Mar 8, 2007 2:38am
Quoting bmartin004

Also has anyone tried putting a SL in at 100 and letting the trade go beyond 100 tp to try and grab some bigger moves. If this has been asked before and I apologize I didn't think I saw it in the log.
Cheers
Bmartin004
I seperate my daily scalping trade into 2 units; one TP at 100+ PIPS, and then move the SL of the other unit to 50 or 100 PIPS and let it run for grabbing bigger moves. I think someone here are doing the same.

Regards,

hksweeper
  • #1,120
  • Mar 8, 2007 4:32am Mar 8, 2007 4:32am
for all the people who backtested the system: does this system give better results with take profit or with "let it run"-strategy?
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