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Burger Straddle Script

  • #61
  • Mar 23, 2007 9:28am Mar 23, 2007 9:28am
Quoting beton4x
Hello Bk i just opened a demo mql4 account
please how do i install and save this script so i can test it
Thanks
Go to first post on page 2, save it in the scripts folder (path is metatrader4/experts/scripts), reopen your mt4 program, go to scripts folder, double click on the Burger Script icon, in the "common" tab check "allow DLL imports" and "allow live trading", the "inputs" tab allows you to change settings.

C'mon guys, this info can be found on beginner threads. Let's not hassle BK for simple stuff after he's shared this hard work.
  • #62
  • Mar 23, 2007 9:49am Mar 23, 2007 9:49am
Hi BK,

I've always enjoyed reading your posts and appreciated the time you take in posting your research with each news item.

But this takes the cake. It is much appreciated, esp since you are sharing it for free. I do hope you don't charge for it in the future. Karma will reward you in much greater ways. Isn't it something like, you get 8 times in return what you give out!!

Anyway, a very appreciated piece of work.

Now, just got to go and open an account with an MT4 broker. LOL

Regards,
K.
  • #63
  • Mar 23, 2007 2:10pm Mar 23, 2007 2:10pm
Quoting kermut
Hi BK,

I've always enjoyed reading your posts and appreciated the time you take in posting your research with each news item.

But this takes the cake. It is much appreciated, esp since you are sharing it for free. I do hope you don't charge for it in the future. Karma will reward you in much greater ways. Isn't it something like, you get 8 times in return what you give out!!

Anyway, a very appreciated piece of work.

Now, just got to go and open an account with an MT4 broker. LOL

Regards,
K.
I would just like to second this...

Thankyou again for sharing this script with us you are very kind.

I banked 50 pips today on the news while i was out!

Great stuff
  • #64
  • Mar 23, 2007 4:47pm Mar 23, 2007 4:47pm
50 pips on the HOUSING?

You were all too optimistic! but hey it did move more though!

Great choices of TP!
  • #65
  • Mar 23, 2007 7:21pm Mar 23, 2007 7:21pm
Hi Burger,

I just wanted to add my thanks for a great looking script!! I will be trying it out next week. I have two quick questions:

<deleted> answer was in script!

Also, when you use this do you usually let it handle the whole shebang? How often are you interfering with the script and completing the trade yourself??

Thanks a bunch and I look forward to testing this out!
  • #66
  • Edited Mar 24, 2007 4:26pm Mar 23, 2007 8:12pm | Edited Mar 24, 2007 4:26pm
Quoting Daemien
Also, when you use this do you usually let it handle the whole shebang? How often are you interfering with the script and completing the trade yourself??
Im a conservative straddle, so I usually have SL@ 5, TP @ 5~20 for normal news and 50 for NFP. At this values, game is over within 30 seconds and naturally i dont need to "interfere" nor do I have time to interfere. Its either go or bust for me.

Perhaps, I should be a little more aggressive and try with bigger TP. After all, there is a Trailing Stop function that will protect profit. Trailing Stop was a late addition so I personally havent used it in action, but I have seen videos of BurgerStraddleScript with Trailing Stop in action.
  • #67
  • Mar 23, 2007 9:31pm Mar 23, 2007 9:31pm
Thanks for the reply & information. I'm usually working during a lot of these news releases so am going to test it out in 'set & forget' mode...

Can you run more than one within MT? (does it use magic numbers)?

Thanks again,



Quoting BurgerKing
Im a conservative straddle, so I usually have SL@ 5, TP @ 5~20 for normal news and 50 for NFP. At this values, game is over within 30 seconds and naturally i dont need to "interfere" nor do I have time to interfere. Its either go or bust for me.

Perhaps, I should be a little more aggressive and try with bigger TP. After all, there is a Trailing Stop function that will protect profit. Trailing Stop was a late addition so I personally havent used it in action, but I have seen videos of latest BurgerStraddleScript version in with Trailing Stop action.
  • #68
  • Mar 24, 2007 3:42am Mar 24, 2007 3:42am
Thanks it just just installed late it is now there.

Quoting the bhoy
Go to first post on page 2, save it in the scripts folder (path is metatrader4/experts/scripts), reopen your mt4 program, go to scripts folder, double click on the Burger Script icon, in the "common" tab check "allow DLL imports" and "allow live trading", the "inputs" tab allows you to change settings.

C'mon guys, this info can be found on beginner threads. Let's not hassle BK for simple stuff after he's shared this hard work.
  • #69
  • Mar 24, 2007 3:46am Mar 24, 2007 3:46am
Quoting Daemien
Can you run more than one within MT? (does it use magic numbers)?
Only one Script (or EA) can run within one chart. If you want to run it on multiple charts of course you can: ie, chart 1 for GBP News @ 5:30AM EST, chart 2 for USD news @8:30AM EST, and then Chart 3 for USD News at 10:00AM EST..

You can even run it on the same pair for the same news albeit, I wont recommend this unless you want to commit financial suicide. Doing so will put you into "Trade Context Busy" penalty box.

The only magic is knowing/understanding which numbers to use.
  • #70
  • Mar 24, 2007 5:33am Mar 24, 2007 5:33am
Hello all
i was trying to compile a script, it showed an error message
"0 error(s), 0 warning(s) " but it didnt show where the error is, and the script is now displayed in the navigation window, please can some body advice me?
thanks
  • #71
  • Mar 24, 2007 7:48am Mar 24, 2007 7:48am
That's exactly what I was hoping!! As they say.. sweeeet...!

Take care,

Derek


Quoting BurgerKing
Only one Script (or EA) can run within one chart. If you want to run it on multiple charts of course you can: ie, chart 1 for GBP News @ 5:30AM EST, chart 2 for USD news @8:30AM EST, and then Chart 3 for USD News at 10:00AM EST..

You can even run it on the same pair for the same news albeit, I wont recommend this unless you want to commit financial suicide. Doing so will put you into "Trade Context Busy" penalty box.

The only magic is knowing/understanding which numbers to use.
  • #72
  • Mar 24, 2007 7:51am Mar 24, 2007 7:51am
BurgerKing. I'm going to give this script a try as well next week. I work during the day also so will leave it in set up in the morning and forget it until the evening mode.

I'm going to ask the crude questions that everybody wants to know but haven't directly asked you as yet I believe.

1. Have you made pips with it consistently?ie is it profitable

2. How many on average.

3. Have you had any problems with it not taking trades.

Many thanks for making it available its very professional.

Regards Schoe.
  • #73
  • Edited 4:29pm Mar 24, 2007 9:17am | Edited 4:29pm
Quoting schoe
BurgerKing. I'm going to give this script a try as well next week. I work during the day also so will leave it in set up in the morning and forget it until the evening mode.

I'm going to ask the crude questions that everybody wants to know but haven't directly asked you as yet I believe.

1. Have you made pips with it consistently?ie is it profitable

2. How many on average.

3. Have you had any problems with it not taking trades.

Many thanks for making it available its very professional.

Regards Schoe.
You cannot judge profitability/succes of this system on all brokers. You have to find the right one.

Profitable? Lets just say i managed to x5 my account since I started news trading last July. Of course there are loosers too but the wins are more frequent and more pips.

Consistency comes from knowing how to trade a news. Review my Historic Charts. If you can understand those charts I have, you will see that winning chance is more than 70% and with some big news adding bonus icing on the cake. Each time I news trade, I can risk 5~10% of my account, but can win 15~25%. Do the math.

"I'm going to give this script a try as well next week."
Word of advice: Dont give it a try if you dont know what news trading is. It takes experience to profit from news. If you havent news traded ever, then you should watch many news over for several months to experience how news trading works. It is inaccurate to judge news trading with a single news. You might experience a bad data and then you'd call it a looser system. OR you might expeirience a 100 pip mover and suddenly call it Holy Grail. As for me even 10 pips of move is Holy Grail; this is why you need to review those Historic Charts to understand without having to experience how each news react. News Trading is not for the newbie. You can easily loose 50% of your money if you are careless. So if you havent news traded ever, WATCH AND LEARN! Again I repeat, you can shorten that learning curve if you review the historic charts.
  • #74
  • Mar 24, 2007 9:20am Mar 24, 2007 9:20am
Quoting beton4x
Hello all
i was trying to compile a script, it showed an error message
"0 error(s), 0 warning(s) " but it didnt show where the error is, and the script is now displayed in the navigation window, please can some body advice me?
thanks
Ask that elsewhere. this is for Burger Straddle Script.

BTW. you answered your own question:

0 error(s), 0 warning(s) = no error = it didnt show where the error is because there is no error
  • #75
  • Mar 24, 2007 9:29am Mar 24, 2007 9:29am
Hello All
just an opinion, why use oco, and cancel the other trade, what of whipsaw?
i think it is best to leave the other trade. it the TP of the triggered trade is hit, then the other trade can be canceled.
  • #76
  • Mar 24, 2007 9:30am Mar 24, 2007 9:30am
Hello All
just an opinion, why use oco, and cancel the other trade, what if there is a whipsaw?
i think it is best to leave the other trade. if the TP of the triggered trade is hit, then the other trade can be canceled.
  • #77
  • Mar 24, 2007 12:04pm Mar 24, 2007 12:04pm
does anyone have a history of the news announcements and the price reaction.

I thin kthat it would be usefull to see the historic data on something the the NFP . . .

How many pips it moved after the announcement. ratio of pip movement to flux from forcast to accual release numbers ect.

If anyone can get me a spreadsheet with the data i will crunch the numbers and post some targets that could help everyone trade these events more efficently.
Keep it simple stoopid....
  • #78
  • Mar 24, 2007 12:59pm Mar 24, 2007 12:59pm
  •  tesla
  • Joined Oct 2006 | Status: Friendly Neighborhood Programmer | 533 Posts
Quoting Kurka Fund
does anyone have a history of the news announcements and the price reaction.

I thin kthat it would be usefull to see the historic data on something the the NFP . . .

How many pips it moved after the announcement. ratio of pip movement to flux from forcast to accual release numbers ect.

If anyone can get me a spreadsheet with the data i will crunch the numbers and post some targets that could help everyone trade these events more efficently.
I think this work has already been done. If I recall, there have been some pretty detailed spreadsheets posted in the News Trading forum. In any case, a great place to start is the with "Historical Charts" posts (news trading forum) by none other than our very own BurgerKing.

If someone doesn't post a link or two to some spreadsheets by Monday, I'll see what I can't dig up.
  • #79
  • Edited 5:30pm Mar 24, 2007 4:32pm | Edited 5:30pm
Quoting beton4x
Hello All
just an opinion, why use oco, and cancel the other trade, what if there is a whipsaw?
i think it is best to leave the other trade. if the TP of the triggered trade is hit, then the other trade can be canceled.
This is all based on personal experience. I put the tools/features there, its up for the trader to decided to use it or not.

Heck, I even got request to autoclose positions depending on the data deviation. Hmmm...

Im currently reviewing this suggestion regarding BurgerStraddleScript fetching news feeds.. There is already a work on fetching calendar from FF (FFCAL); but unfortunately, FF's XML file (http://www.forexfactory.com/weekly_calendar.xml) does not have complete information. For instance, the upcoming NZD news does not have Estimates on the above mentioned xml file; nor does it publish the actual number either. Therefore, it is not useable for this purpose. Fetching the calendar.php however takes more bandwidth and highly unwelcome. We need another data feed. Anyone have sources?
  • #80
  • Mar 24, 2007 7:07pm Mar 24, 2007 7:07pm
Forgive me if the answer to this question is obvious but what is the BuyLot2 and SellLot2 function in the script for? Should they be left at 0.0? Thank You.
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