Daily Scalping EA - Discussion Thread

Hi All
this is the thread related to automating using EA , the trading system Part Time Wealth Builder - Daily Scalping started by Tkimble (thanks a lot to him for all his great trading system shared over this forum)
Since this post cannot further be modified by me when 48 hours are due, you will find latest EA update in my signature.
The Daily Scalping EA is intended to be used with original Tkimble's rules so please refer to his thread to know how it works.



User settings usage :

GMT_Shift = Your broker shift related to GMT time zone (if it's GMT+3 then put 3 , if GMT-1 then put -1)
TakeProfit = Take profit in pips when EA will close current order
StopLoss = Stop loss in pips when EA will close current order
HourToCloseOrders = Hour when EA will close ALL positions
SundayCandleExists = Flag to let the EA to don't take care about Sunday Candle. If your broker get the Sunday candle put true elsewhere put false
Lots = Number of fixed contracts (used only if UseMoneyManagement = false)
UseMoneyManagement = Flag to let the EA to use money management routine with Risk value per trade
Risk = Risk per trade allowed (used only if UseMoneyManagement = true)
Slippage = Max slippage allowed in pips
MaxLossesTradesPerDay = Max losses trades allowed in a day per single pair (Setting to 2 , if EA will hit 2 consecutive losses in a day then will stop to trade until new day start even if HourToCloseOrders is not reached)

Note :

The EA will also handle automatically the MagicNumber generation so that you can put it with multiple pairs or multiple EA within the same account without any interference

Optimized Settings :

TakeProfit = 200;
StopLoss = 40;
HourToCloseOrders = 17;
MaxLossesTradesPerDay = 2;

(Optimized settings are still in researching and all traders are encouraged to share his result here)

Broker used to test Daily Scalping EA in demo/live account by Skyline : FastbrokersFX

Download latest EA
EA Settings

P.S.: Sorry for my bad english. This isn't my native language

Thanks Skyline. I understand TK's concern but I do love your EA.

You are the Man.


Thanks,

Tim

Skyline,

Thanks for setting up this thread for the EA. Hopefully all the traders using the EA for Kimbles system will start posting and make this thread a very active one.

Carol

Thanks Skyline - look forward to a long and profitable thread

Thanks Skyline to take the lead for this thread

Thanks to all you guys !

Well OK.

Here is my test of since Feb 19.

Currently running 1.0e.

No intervention except that I changed the closing hour to 16.
Two max trades.

Youknow, I'm really thinking of ditching GBPUSD.
GBPJPY is up 632 pips and the Cable is down over 200.

I'm going to try EURJPY and GBPCHF I think. But I'm happy right now!

What a great statement, Don. Thanks for sharing.

How about a filter like ATR?

Thanks.

Hi traderone,

i see in your file you use 50 pip SL for GBPJPY and you have no SL today.

Its better then 40 ?, you allways take 50?

Thanks
Mobsie

Yes, I always have a stop loss. Even today.

I think you saw the GBPUSD which was closed at the closing hour rather than by a stop.

I have been using 50 for the GBPJPY and 40 for the Cable.

Hello, I would like to start testing the EA but what would be the broker time settings for the swiss broker MIG and the US broker IBFX, I am thinking of using 23.00 as the start time or is everyone using 00 hour. Thank you Trimble and Skyline for all your time and efforts

Thanks Skyline for starting this thread.

Just wanted to mention that the TP on this EA is a great way to make profit when the market wants to range instead of trend.

Thanks also for all your hard work on this EA.

yezbick

Thanks Skyline for this thread. I like two things the Rhythm method has got. First you can overide the opening direction the trade will be put into if you feel the trend is going to change. Second you can make the trailing stop go for one time only which means it will put you into break even when your stoploss no of pips is reached and it has the magic number as one of the options. I am using the rhythm ea for these reasons but it has other problems too. I actually part trade manually and part ea. I use the ea to get into a trade and when I'm not there but have been know to switch to manual if I know I am going to sit at the computer. A foot i both camps I guess

Thx for sharing your result Don
I've very similar result where gbpjpy is performing really amazing with 200 pips reached a lot of times, later I will post my statement

Skyline

ChangeLog
v1.0g [13 Mar 2007]
+ Fixed error that prevent the EA to reverse correctly the trade if first order hit SL
+ Fixed error that prevent to use SL = 0 (Thanks to Mlollar)

Download Link
http://www.divshare.com/download/225032-79c

Thanks Skyline. I understand TK'S concerns but if I had to trade this system manually I would be divorced and out of a job!!

I am new to auto trading using an EA and am really enjoying learning . I'm on demo for now.

Skyline - don't worry about your English. You're speaking pips!

And great credit goes to TKimble too.

those that like to use the EA. I am still waiting to use it much as I was having minor problems with it, but will use it once everyone is doing well with it.

Thanks, Skyline! All your efforts are appreciated! IMO

Thx Max
What kind of problem are you experience with this EA ?

Skyline