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  • #121
  • Mar 22, 2007 4:07pm Mar 22, 2007 4:07pm
Quoting ut2DaMax
and will switch to the latest to see how it works. I am not kidding or fibbing .... today og opened two orders instead of one ..... LOL .... It bothered me enough to remove the EA and sold for a profit manually on GBP/JPY.


Skyline thanks .... I will try the latest version. I have faith that this EA will work very well once all the kinks are worked out. I sure hope so as think is the one of the only EA's that can out-manouver the SHARKS! And they are dertermined to glean from every trader until they are flat broke! Thats why the Daily and Weekly systems shine. And tk, is the Master of winning, and knows just how to play ball with the Sharks and come out on top! IMO
Thx Max for your kind words
Hope that this EA will help us to better apply the very good method introduced by Tkimble that I will never stop to thank Honestly when I start to code it I thought that it was a simple EA to code but as you see it was more difficult maybe because I'm not a master yet with mql language, anyway it was an interesting challenge for me

Skyline
  • #122
  • Mar 22, 2007 4:12pm Mar 22, 2007 4:12pm
Quoting accrete
Hi Skyline, great to see you're having fun creating another pipMachine : )

In the above post i'm unsure of what parameter you are indicating when you state "it will trail using TrailingStop pips" In the code of the latest v1.0h are the following to tweak:

extern double GMT_Shift = 3;
extern int TakeProfit = 200;
extern int StopLoss = 40;
extern int HourToCloseOrders = 17;
extern bool SundayCandleExists = false;
extern double Lots = 0.1;
extern bool UseMoneyManagement = true;
extern int Risk = 2;
extern int Slippage = 3;
extern int MaxLossesTradesPerDay = 2;
extern int TrailingStop = 0;


So i see where TrailingStop is but where is the "Pips" to set on the TS or is it the "StopLoss" that is doing double duty?

THX,
: ) Thom
Hi Thom nice to see you again here , your comment are always appreciated

Maybe due to my limited english I wrote wrong about TrailingStop.
I only want to say that the TrailingStop routine is enabled only if value is more than 0 and pips to set on is the TrailingStop variable. So if TrailingStop = 0 then EA don't trail otherwise if it's X (where X is number of trailing pips) it will trail using X pips.
Examples :
1) you want to trail for 50 pips then set TrailingStop = 50
2) you don't want to trail at all then set TrailingStop = 0
Hope this time I explained clear otherwise I can only write again in italian eheheh

cya,
Skyline
  • #123
  • Mar 22, 2007 4:24pm Mar 22, 2007 4:24pm
Thank you Sky!! PERFECT English on your explanaition.

Now onto the practical useage of the TrailStop. At some point in this thread (yes i enjoyed reading every post this morning) there were concerns that the TS was either not working properly in the code (though i believe a prior post of yours stated this "bug" had been addressed?), or, the idea of using a TS in this particular model might not be the best money management?

Are people using the TS feature of the "H" version, and if so what have you found is working on the GbpUsd, and the GbpJpy pairs?

In my manual trading i typicaly would utilize a 55 pip stop loss and about a 35 or 40 pip TS on the Gbp/Usd. As for the G/J ? It is to new to me to know what might be optimal but it sure does, or can range at times in a day.

Thanks again for the excellent reply Skyline.
: ) Thom

Quoting skyline
...Examples :
1) you want to trail for 50 pips then set TrailingStop = 50
2) you don't want to trail at all then set TrailingStop = 0
Hope this time I explained clear otherwise I can only write again in italian eheheh

cya,
Skyline
  • #124
  • Mar 22, 2007 4:30pm Mar 22, 2007 4:30pm
you said;

.... the very good method introduced by Tkimble that I will never stop to thank .....


I agree .... this is one smart trader! I would prefer to be able to use the EA with this Method though if we can. His MM is where it's at, and I hope one day I also can apply this correctly. It is just too much to take in at times. Again thanks!
  • #125
  • Mar 22, 2007 4:37pm Mar 22, 2007 4:37pm
Quoting accrete
Thank you Sky!! PERFECT English on your explanaition.

Now onto the practical useage of the TrailStop. At some point in this thread (yes i enjoyed reading every post this morning) there were concerns that the TS was either not working properly in the code (though i believe a prior post of yours stated this "bug" had been addressed?), or, the idea of using a TS in this particular model might not be the best money management?

Are people using the TS feature of the "H" version, and if so what have you found is working on the GbpUsd, and the GbpJpy pairs?

In my manual trading i typicaly would utilize a 55 pip stop loss and about a 35 or 40 pip TS on the Gbp/Usd. As for the G/J ? It is to new to me to know what might be optimal but it sure does, or can range at times in a day.

Thanks again for the excellent reply Skyline.
: ) Thom
eheh Thx Thom
With v1.0h was introduced for the first time the trailing stop function, personally I don't use it in this EA so I don't test so much to say what's the best trailingstop setting.
The question that someone asked , if it's working version H was about if the EA still reverse the position when the S/L is hit , but as I said since I don't use and I didn't backtest the trailing stop feature , I don't know the answer :|

Happy pips
Skyline
  • #126
  • Mar 22, 2007 4:38pm Mar 22, 2007 4:38pm
LOL, i was going to ask why a new trade has not been initiated yet...then i realized that due to my borker's 5pm New York Daily Candle close that i've still got three more hours to go!!! Silly me.

I'm reading through the original thread by TK so i'll not rock the boat and just let the EA do it's thing taking the Daily Candle to close at GMT in stead of looking at the NYmarket's close. But might as well ask the question here...has anyone tested the NYclose as daily candle ? I mean if the brokers look at NY close as the rollover/swap time, why not the daily candle then? Was GMT 0 taken maybe because that was the broker's server time that TK was working with in manual trading? Personaly i find as much relevace for the NY close with respect to the importance that brokers/bankers place on that time of day with the rollover/swap taking place then.

Just a ramble that is most likely off topic for strict EA use/testing.
: ) Thom
  • #127
  • Mar 22, 2007 5:29pm Mar 22, 2007 5:29pm
Skyline, I really like your contributions to TKs system. You EA is great.

I wanted to ask if there is any way to carryover a winning trade to the next day. I tried to back test: Hourtoclosetrade=72 (3 days) and it didn't work. Taking it one step further, it would be cool to adjust the SL to the new dayopen -40 pips. I could do this manually pretty easily if it didn't mess up the running EA.

I might try to forward test but I wanted to ask you if it is doable or if you have any suggestions.

Thanks!
  • #128
  • Mar 22, 2007 6:18pm Mar 22, 2007 6:18pm
Quoting Al_Have1
Skyline, I really like your contributions to TKs system. You EA is great.

I wanted to ask if there is any way to carryover a winning trade to the next day. I tried to back test: Hourtoclosetrade=72 (3 days) and it didn't work. Taking it one step further, it would be cool to adjust the SL to the new dayopen -40 pips. I could do this manually pretty easily if it didn't mess up the running EA.

I might try to forward test but I wanted to ask you if it is doable or if you have any suggestions.

Thanks!
thx Al_Have1
Yes it should be possible to carry over the next day the trade but there's the need to change a little bit the code to adapt to this. Maybe in some next version
  • #129
  • Mar 22, 2007 8:45pm Mar 22, 2007 8:45pm
OK, i understand that if there are three consecutive "Bulls" as in the example below on the Gbp/Jpy daily chart (lower chart - hourly is above) that if this ea had been running for Wednesday's open it would have first opened a sell due to the prior three Bull days, today it happily entered a reverse order and is up 43 pips as i post...

http://accrete.com/fx-posts/demopix/...3SkyDSea01.gif


so what the EA is doing is counting backward from the current open? So if a newbie were no open this up in a strong bull run, say two weeks of bull dailies, the first trade of the new day will always be a reversal? No problem with that, just trying to understand the logic.

. . . And then is there ever a statistical average that says if it goes XX days in one direction count on it continuing? Maybe that's to much math (and i'm in no way inferring it should even be calculated!! Just working the ol' gray matter for the fun of it.)

: ) Thom
  • #130
  • Edited 6:37am Mar 23, 2007 3:58am | Edited 6:37am
Quoting accrete
OK, i understand that if there are three consecutive "Bulls" as in the example below on the Gbp/Jpy daily chart (lower chart - hourly is above) that if this ea had been running for Wednesday's open it would have first opened a sell due to the prior three Bull days, today it happily entered a reverse order and is up 43 pips as i post...

http://accrete.com/fx-posts/demopix/...3SkyDSea01.gif


so what the EA is doing is counting backward from the current open? So if a newbie were no open this up in a strong bull run, say two weeks of bull dailies, the first trade of the new day will always be a reversal? No problem with that, just trying to understand the logic.

. . . And then is there ever a statistical average that says if it goes XX days in one direction count on it continuing? Maybe that's to much math (and i'm in no way inferring it should even be calculated!! Just working the ol' gray matter for the fun of it.)

: ) Thom
yes exactly Thom, the original Tkimble's method tell that if previous 3 candle are in the same direction then most probably (as Tkimble said) the next one will be a reversal. But if previous 3 candle aren't in the same direction then the next candle will follow only the previous candle trend.
The strong point of this method is that is not based on any indicator, it's pure price action, and eventually if the opening direction is wrong then it will reverse trying to follow the correct trend direction. Obviously this isn't a 100% winning method since in strong range market , it could occurs a lot of S/L due to continuosly stop and reverse. This is why I'm usually set in the EA MaxLossesTradesPerDay = 2 and SL=40 so that if EA will hit 2 times the SL the day for me is ranging so it's not worth to continue to trade. In this way I accept a maximun of 80 pips loss for each pair and each day and set my position size accordingly.

cya,
Skyline
  • #131
  • Mar 23, 2007 6:07am Mar 23, 2007 6:07am
So if you have 3 up days in a row, it will not take a long trade on the fourth day. What happens on the fifth day, does it go back to what hits first long or short?

If your in a strong run and it takes the trade against the run for a loss will the next trade go ahead and reverse in the direction of the trend?

Is there any way that you could make this 3 candle reverse a choice or settable to more days?

My bad for all the questions, this is a neat ea. thanks for your work not only on it but to make it understandable to us.
  • #132
  • Mar 23, 2007 6:27am Mar 23, 2007 6:27am
Hi droesparky I try to answer below..

Quoting droesparky
So if you have 3 up days in a row, it will not take a long trade on the fourth day. What happens on the fifth day, does it go back to what hits first long or short?

No. It depends on the direction of the fourth day , so on the fifth day the EA will check backward for the previous 3 candle (fourth , third and second) and will open order accordingly.

If your in a strong run and it takes the trade against the run for a loss will the next trade go ahead and reverse in the direction of the trend?

yes that's the core of the method, everytime a sl is hit there is a stop and reverse , so that we try to follow as much as possible the correct trend direction. But as I said before this could hurts the account if the price start to strongly range, this is why I added the variable MaxLossesTradesPerDay.

Is there any way that you could make this 3 candle reverse a choice or settable to more days?

Sorry , actually there is no such options even if it could be done, maybe in some next release

My bad for all the questions, this is a neat ea. thanks for your work not only on it but to make it understandable to us.

You're welcome , I'm trying to do my best to help other as other helped me a lot of time in this great community
  • #133
  • Mar 23, 2007 8:03am Mar 23, 2007 8:03am
Here are my results so far with my settings with TF H!, should I be using M5?. Any recommendations on my settings? Mind you I like to test all currencies to see which ones profit most week by week. and I switched to h1 version middle week when it came out
GMT_Shift=3.00000000
TakeProfit=24
StopLoss=50
HourToCloseOrders=17
SundayCandleExists=1
Lots=0.01000000
UseMoneyManagement=0
Risk=1
Slippage=3
MaxLossesTradesPerDay=4
TrailingStop=16
Attached Image
Attached File(s)
File Type: doc DetailedStatementSBFXDS.doc   298 KB | 433 downloads
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #134
  • Mar 23, 2007 8:32am Mar 23, 2007 8:32am
Quoting matrixebiz
Here are my results so far with my settings with TF H!, should I be using M5?. Any recommendations on my settings? Mind you I like to test all currencies to see which ones profit most week by week. and I switched to h1 version middle week when it came out
GMT_Shift=3.00000000
TakeProfit=24
StopLoss=50
HourToCloseOrders=17
SundayCandleExists=1
Lots=0.01000000
UseMoneyManagement=0
Risk=1
Slippage=3
MaxLossesTradesPerDay=4
TrailingStop=16
It's the same using M5 or H1 or D1 as timeframe since the method is based purely on the price that's equal on all timeframe
Anyway my settings are slightly different on gbpjpy and EA is performing very well since 20 Feb 2007 :

TakeProfit=200
StopLoss=40
HourToCloseOrders=17
SundayCandleExists=1
Lots=0.01
UseMoneyManagement=0
Risk=1
Slippage=3
MaxLossesTradesPerDay=2
TrailingStop=0
  • #135
  • Mar 23, 2007 8:55am Mar 23, 2007 8:55am
Quoting else
I have been trying the Rhythm EA for a while with mixed results so I thought I would give the Daily Scalping another try. I looked for the latest version on this thread and downloaded it and dropped it on GBPJPY.

I expected it to open a trade at the new candle and I had to go out for a couple of hours so I left it to open a trade on its own.

Understatement, it has opened and closed hundreds, reduced my account from $4k to about $90.

Don’t know what I did wrong but boy am I glad it was only a demo account.

Be careful everyone, big lesson to learn, test on a demo before you go live on your account.

Andy
Skyline, I recently posted that this happened to me too. I found a possible explanation. I have the shift at +2 and hour to close at 23. My thought is it looped open & close over & over in the same direction. At the time, I was thinking that the hour to close didn't have the shift factored in. Hope this helps.
  • #136
  • Mar 23, 2007 9:07am Mar 23, 2007 9:07am
Quoting Al_Have1
Skyline, I recently posted that this happened to me too. I found a possible explanation. I have the shift at +2 and hour to close at 23. My thought is it looped open & close over & over in the same direction. At the time, I was thinking that the hour to close didn't have the shift factored in. Hope this helps.
Did you try again with latest v1.0h1 ?
  • #137
  • Mar 23, 2007 9:16am Mar 23, 2007 9:16am
Quoting skyline
Did you try again with latest v1.0h1 ?
Sorry, I don't remember because I had to open a new demo act, but I am pretty sure it was h1. I will try to duplicate it. I will report back if I am successful.
  • #138
  • Edited 9:24am Mar 23, 2007 9:20am | Edited 9:24am
I've been using Skyline's EAs since he first posted them and I've had next to no problems with them. Only problems I'm having is finding correct settings.

Did you have the max trades set 0 or a number? I also have the GMT shift to 0 since I'm using Interbank. Is that who you are using?

Quoting Al_Have1
Sorry, I don't remember because I had to open a new demo act, but I am pretty sure it was h1. I will try to duplicate it. I will report back if I am successful.
  • #139
  • Mar 23, 2007 10:51am Mar 23, 2007 10:51am
Quoting Eureka
I've been using Skyline's EAs since he first posted them and I've had next to no problems with them. Only problems I'm having is finding correct settings.

Did you have the max trades set 0 or a number? I also have the GMT shift to 0 since I'm using Interbank. Is that who you are using?
I am using FXDD for the +2 shift. Max trades was at 0. I was using multiple pairs and G/Y is the one that wiped it out. I have since changed the exit to hour 21 (was at 23 I think) to account for the +2 shift. I thought hour to close meant "close after x hours" rather than "close at x:00 GMT". So, it probably was my settings.

I also am using Alpari at 0 shift and have had no problems on that one.
  • #140
  • Mar 23, 2007 10:56am Mar 23, 2007 10:56am
Ok, thanks for your reply.

Quoting Al_Have1
I am using FXDD for the +2 shift. Max trades was at 0. I was using multiple pairs and G/Y is the one that wiped it out. I have since changed the exit to hour 21 (was at 23 I think) to account for the +2 shift. I thought hour to close meant "close after x hours" rather than "close at x:00 GMT". So, it probably was my settings.

I also am using Alpari at 0 shift and have had no problems on that one.
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