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eur/usd scalping method

  • #141
  • Jan 6, 2009 10:21pm Jan 6, 2009 10:21pm
First of all I wanted to thank PTOURNIS, Ronald and everybody that has contributed to this excellent system.

I want to use the EA in a mini account trading the 5 minute chart and since this is actually my very first time using an EA I'm a little confused about the inputs. I wanted to ask if anyone could give me and anybody else in the same situation some help.

I'm attaching the screenshots of my EA settings. I tried my best but wasn't able to fill up most of the blanks.

Can anyone using this EA successfully please tell me what am I missing (I'm sure it's a lot). Also just noticed that the settings for an EA can be saved by clicking the save button in the EA inputs windows. Could you please share that file so I (and everybody else new to EAs) can use it as a starting point?

Thanks a lot,

Seb
Attached Image (click to enlarge)
Click to Enlarge Name: settings-2.jpg Size: 134 KB
Attached Image
  • #142
  • Jan 6, 2009 11:22pm Jan 6, 2009 11:22pm
Quoting ^eagle^
RR

I downloaded your latest version of this EA and it is giving a buy signal when the slope is correct but the PSAR is not.
Make sure and right click on your chart, choose indicators list. When they pop up choose propertys and make sure that they match what the EA says.
You also need to have the slope indicator (MQ4) that Ronald posted with the original EA.

Ronald, Thank You!!!! I've been using the EA for the last 3 hours and it seems to be working just fine per the original system rules. Now us guys that are using it just have to optimize the settings, such as trailing stop, move to BE...
You're great Ronald, Thanks Again!!
  • #143
  • Jan 6, 2009 11:35pm Jan 6, 2009 11:35pm
Just to add on to what DaTrader mentioned.

Remember that you can choose the timeframe for each indicator (PSAR and Slope Direction). If you want to use the current chart's timeframe, just set those to 0.
  • #144
  • Jan 7, 2009 12:11am Jan 7, 2009 12:11am
I have downloaded and installed the indicators.
Can you please explain in a bit more detail?
How do you know when both the PSAR and Slope Indicator are in agreement?
Do you enter during a candle, or wait for the close and start of the next one?
What stop size do you typically need with this method?
thanks,
Cooper


Quoting PTOURNIS
I have been experimenting with this scalping method for a SHORT time. I want to stress this. The system works as follows:

Eur/Usd 5 min chart

Place PSAR (.02,.2) and the Slope Indicator (12,3,0)

Go long/short when both indicators are in agreement.

Exit when the Slope indicator is opposite to the PSAR.

Reenter when the Slope Indicator is in agreement with the PSAR
  • #145
  • Jan 7, 2009 12:51am Jan 7, 2009 12:51am
Hi PT,

Have you devised a method to help keep us out of ranging markets with this strategy? If trading the EUR/USD it obviously works best to trade during the London and US markets. After that, I've pretty much run out of ideas.

Sure, I have attempted to muck things up by adding additional indicators to help me avoid ranging markets such as the RSI 9, with a 45 to 55 level no-trade zone, but it seems to have limited utility.

Jusy wondering if you can help this ol' boy out?

Thanks,
Bob
  • #146
  • Jan 7, 2009 12:54am Jan 7, 2009 12:54am
Quoting Ronald Raygun
Yes. You're right, it still requires me to be in front of my computer. But remember, I trade with a lot of systems. I have enough trouble tracking the 3 manual systems I trade on top of checking market direction, let alone 37.

My best EA--coded by me and up here on forex factory--has a 92% win rate with Risk:Reward of 1:1.2 and has been running continuously since May 2008. To date it has made me 4,000 pips net, 4,400 gross.

It works.

Ronald Raygun,

As you have amazingly been responsible for a vast array of EA's could you please state which particular EA is the one being referred to above.

I am attempting to mimic your trading method as I find your logical reasoning very persuasive. Could you please state which of the EA's in the public domain should be used for a trending market and which for a ranging market?

I hope to learn from you and hopefully produce similar results. Keep up the good work and may the PIPS be with you.
  • #147
  • Jan 7, 2009 12:59am Jan 7, 2009 12:59am
I'm sorry Trader7, but as generous as I may be, I will not tell you what specifically those EAs are or where to find them, except that they are on this forum. I am encouraging you to sift through my posts, and also through the threads I've posted in. I can guarantee you'll find the EAs and the corresponding systems there.

The main reason why I do this is because I have many e-mails/PMs/posts from end-users complaining to me that my EAs have lost them money. Making my EAs slightly harder to find helps me automatically filter out those who may potentially make things more difficult for me. I've already been sued once. I don't want it to happen again.
  • #148
  • Jan 7, 2009 4:02am Jan 7, 2009 4:02am
Quoting Bobcat2
Hi PT,

Have you devised a method to help keep us out of ranging markets with this strategy? If trading the EUR/USD it obviously works best to trade during the London and US markets. After that, I've pretty much run out of ideas.

Sure, I have attempted to muck things up by adding additional indicators to help me avoid ranging markets such as the RSI 9, with a 45 to 55 level no-trade zone, but it seems to have limited utility.

Jusy wondering if you can help this ol' boy out?

Thanks,
Bob
Bob,

You can not "indicator out" all losses. There will be losses with any system. Also, there is no SL. You have to watch the screen. This is why I only trade this system for limited hours of the day. I CAN'T TAKE ALL THE SCREEN TIME!!!!!

Pete
  • #149
  • Edited 4:49am Jan 7, 2009 4:23am | Edited 4:49am
i've made +14pips today with this system

I think this system works pretty well on M5 charts around the following times

>> 11pm GMT
>> 7am GMT
>> 4pm GMT

from my observation, it also works well on M15 but expect large retracements; like 40pips

i'l onli trade EURUSD M5 coz thats ur system is abt
bt i wont mind ur opinion on d EURUSD M15 charts becos if it'll work, it'll be less stressful
  • #150
  • Jan 7, 2009 5:01am Jan 7, 2009 5:01am
Thanks to Ptournis for sharing this simple strategy. Works great for me. To Ronald, both latest EA works great too. Great job

Here how i use the system. Currently I am using f4mnect template to trade at TF1 min. For visual, I simply attach the slope indicator (12,3,0) and use MTF SAR with value (5, 0.02, 0.2). As for EA, i use slope setting (12,3,0,0) and PSAR (0.02,0.2,5).

If you like to be aggressive, try this setting at TF1 min with PSAR (0.11,0.1) and slope direction (12,3,0). The slope direction moves similar to the movement of SMA 2 (Weighted Close) and SMA 5 (Weighted Close).

Do test it first.

Regards
~profi~
~ Let the TRADES come to you - be a TRAPPER not a HUNTER ~
  • #151
  • Edited 7:43am Jan 7, 2009 7:23am | Edited 7:43am
Quoting Ronald Raygun
eagle, do the settings match (between EA and indicator)


As for the slope, here's the problem...

Zoom out on the chart. The slope changes. So what do I use as a measurement of the angle?

I will check on the settings match. I have two slope indicators downloaded. Is your the tomato and aqua colored one. I found that one to be lagging. The red and blue indicator is better on 5M TF.

As far as slope angle. I Know a guy who has an indicator that paints midpoints on candlebodys. If the open of candle is at or above(for uptrend) or at or below (for downtrend) the mid point of the previous candle then the slope is good.

I'll see if I can dig it up and post here.
  • #152
  • Jan 7, 2009 7:30am Jan 7, 2009 7:30am
Picked up +56 pips today. I'm out, everyone have a great day.

Pete
  • #153
  • Jan 7, 2009 8:05am Jan 7, 2009 8:05am
Quoting ^eagle^
I will check on the settings match. I have two slope indicators downloaded. Is your the tomato and aqua colored one. I found that one to be lagging. The red and blue indicator is better on 5M TF.

As far as slope angle. I Know a guy who has an indicator that paints midpoints on candlebodys. If the open of candle is at or above(for uptrend) or at or below (for downtrend) the mid point of the previous candle then the slope is good.

I'll see if I can dig it up and post here.
The default for my version of slope direction looks like it lags because the period is set to 80 not 12
  • #154
  • Jan 7, 2009 9:24am Jan 7, 2009 9:24am
RR

Could not find the midpoint painter but I found a multi meter that shows where price is in relation to the midpoint. It executes this on all time frames.

Maybe it well help
Attached File(s)
File Type: mq4 _TRO_Multi_Meter_Midpoint.mq4   15 KB | 547 downloads
  • #155
  • Jan 7, 2009 9:46am Jan 7, 2009 9:46am
Quoting PTOURNIS
Picked up +56 pips today. I'm out, everyone have a great day.

Pete

Pete.

Could you please divulge your stop loss?

I go in but Get chickenshit and bale after I slam the candle or I pull out at break even.
  • #156
  • Jan 7, 2009 9:47am Jan 7, 2009 9:47am
Your EA don't work, don't open trades on signals! I've set EachTrickMode FALSE, Lots = 0,5 and I've attached the EA to a chart with all correct indicators.

Can anyone finally help me? I think the problem can be really simple but I'm not expert about EAs.
Attached Image (click to enlarge)
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  • #157
  • Jan 7, 2009 9:48am Jan 7, 2009 9:48am
Quoting PTOURNIS
Picked up +56 pips today. I'm out, everyone have a great day.

Pete
Hi Pete...Thanks for share your system...May you post your chart for this result?...Just to learn your point...thanks before Nickolai
let's make pips
  • #158
  • Jan 7, 2009 10:13am Jan 7, 2009 10:13am
You have to click on the ea icon (face with hat)
  • #159
  • Jan 7, 2009 10:19am Jan 7, 2009 10:19am
Quoting Retal1ator
Your EA don't work, don't open trades on signals! I've set EachTrickMode FALSE, Lots = 0,5 and I've attached the EA to a chart with all correct indicators.

Can anyone finally help me? I think the problem can be really simple but I'm not expert about EAs.

There's a button at the top labeled "Expert Advisors" Make sure it's green.
  • #160
  • Jan 7, 2009 10:57am Jan 7, 2009 10:57am
Quoting Ronald Raygun
There's a button at the top labeled "Expert Advisors" Make sure it's green.
LOL I said I am a noob about EAs....
Now my EA run perfecly!
Thank you!

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