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Slingshot 30M & 1H - The 2nd Coming......

  • #441
  • Feb 12, 2009 10:00am Feb 12, 2009 10:00am
Hello everybody,

I downloaded the Slingshot 2.1 EA and like to try it on demo. Can somebody please tell me some recommended sttings? Thank you very much.
  • #442
  • Feb 12, 2009 10:06am Feb 12, 2009 10:06am
Having a duh moment?! In other words, it appears the ea is closing the trade as soon as it gets to +1 and not waiting for the close of subsequent candles. Per post #1 and his note in post #410, the ea should wait until the close of subsequent candles before evaluating the profitability and then close out trades in a profit/BE or keep the trade open. If it is closing 'early', then it is a coding mistake on my part - I was trying to trade the rules. You believe that it would be good to have both the way its trading now AND the proper close per the rules as options?

Gary

Quoting llambert3
The part in red is not completely accurate. I didn't think it was, but Damon's last post verified it. I think we need an option to do what you have written and what he said. The EA is closing the trades at +1 should the current candle not close profitable, but it should be staying until the candles close in profit or hits the stop. I am sure there are times when getting out at +1 is better. What I am seeing a lot of in the current EA is a lot of -45 pip losses and a lot of +1 tp's.. which we all know you need 45 +1 to cover one loss. It could be...
  • #443
  • Feb 12, 2009 10:09am Feb 12, 2009 10:09am
Quoting Pavatar
Having a duh moment?! In other words, it appears the ea is closing the trade as soon as it gets to +1 and not waiting for the close of subsequent candles. Per post #1 and his note in post #410, the ea should wait until the close of subsequent candles before evaluating the profitability and then close out trades in a profit/BE or keep the trade open. If it is closing 'early', then it is a coding mistake on my part - I was trying to trade the rules. You believe that it would be good to have both the way its trading now AND the proper close...
Well I think it may be better to have that as an option to test. I mean certainly I'd rather have +1 than -45, but then what if all the +1 trades ended up being +30 or +50? Right now we don't know, but if you change the code to be what Damon thought and we start losing way more money, then your +1 code may have been better.. It may be too difficult to code though.
  • #444
  • Feb 12, 2009 10:10am Feb 12, 2009 10:10am
Quoting SXMTrader
Hello everybody,

I downloaded the Slingshot 2.1 EA and like to try it on demo. Can somebody please tell me some recommended sttings? Thank you very much.
We don't know a recommended setting yet
  • #445
  • Feb 12, 2009 10:13am Feb 12, 2009 10:13am
Hello Gary,

My name is Holger. I am new to this forum and like to try your EA on demo. I am trading the Slingshot method already for a while. I downloaded your EA and like to know what settings you use, or is there any post where I can find this information like TP - SL - TSL, 30M, USD/EUR etc. I appreciate your help and look forward to post my result too. Sorry for my english, I am German.
Thank you for any information,
Holger
  • #446
  • Feb 12, 2009 10:14am Feb 12, 2009 10:14am
Hello llambert3,

Thank you for your answer. I missed it while I was writing the same question to Gary. Thank you,

Holger
  • #447
  • Feb 12, 2009 10:25am Feb 12, 2009 10:25am
Quoting SXMTrader
Hello llambert3,

Thank you for your answer. I missed it while I was writing the same question to Gary. Thank you,

Holger
It is ok.. some of us are setting the 3 separate filters to true. You also need to know your broker's GMT setting. For instance IBFX GMT = 0, FXDD = +2.. Whatever yours is, you have to put the number in that setting (I am not sure what it is, but something like gmt offset or something).. This will accurately determine the correct times to trade the ea.
  • #448
  • Feb 12, 2009 11:53am Feb 12, 2009 11:53am
SXMTrader,

please follow post #1 on the very first page, it will tell you what the SL settings are for each pair. ("Basics of the System")

Important stuff:
-correct filters
-SL settings as per post #1
-GMT offset
-correct chart (i.e. M30 or H1)

all the other settings are under intensive testing...



All,

today I'm trying the EA with all 3 individual filters on, double and triple filters off, both M30 and H1 for all 5 pairs.
I'm in massive minuses, interestingly enough, almost all my losses are in connection with JPY (EURJPY, GBPJPY) others are better.

I'm getting triple entries for 90% of opportunities (not surprising, given the filter settings)


Gary,
It would be nice if you could add an option for 4digit and 5digit brokers, is that possible?
Thank a lot for the work

hsa
  • #449
  • Feb 12, 2009 12:22pm Feb 12, 2009 12:22pm
Just posting the EA problems I have noticed:

1. If not in profit on close of first bar, the EA will try to close at B/E +1pip (or I think in the case of 5 digit Brokers it will try at B/E + 1/10pip).

2. If the entry bar is higher/lower than entry +/- initial stop loss (from StopLoss parameter), the EA will modify the stop to be larger than the initial stop i.e. moves the stop further away. This is a big no no in trading! It should never move the stop loss further away.

3. For my 5 digit broker (FxPro), it seems that Point only returns the minipip size, so all calculations using Point are out by a factor of 10. I will attempt to verify this.

Ian
  • #450
  • Feb 12, 2009 12:33pm Feb 12, 2009 12:33pm
Hi hsa -

I'll add your request to my 'to do' list.

Gary

Quoting hsa013
It would be nice if you could add an option for 4digit and 5digit brokers, is that possible?

hsa
  • #451
  • Feb 12, 2009 12:36pm Feb 12, 2009 12:36pm
Hi ian -

ea is not currently written to work with 5 digit brokers.

Gary

Quoting ianf0ster
For my 5 digit broker (FxPro), it seems that Point only returns the minipip size, so all calculations using Point are out by a factor of 10. I will attempt to verify this.

Ian
  • #452
  • Feb 12, 2009 1:27pm Feb 12, 2009 1:27pm
Quoting ianf0ster
Just posting the EA problems I have noticed:
2. If the entry bar is higher/lower than entry +/- initial stop loss (from StopLoss parameter), the EA will modify the stop to be larger than the initial stop i.e. moves the stop further away. This is a big no no in trading! It should never move the stop loss further away.

Ian
Gary, this is true. I meant to tell you yesterday about this. The initial stop of say 45 is moved to the high/low + 1 no matter what. So if the high/low is 70 pips away, the 45 should stay.
  • #453
  • Feb 12, 2009 2:35pm Feb 12, 2009 2:35pm
Well I ended up downloading FXDD here at work. If I get in trouble I'll blame Gary

I figure during break/lunch I can look at it and determine if it is trading correctly.. at least a little bit more help than just not knowing. I started with a $5,000 demo at 1:30pm... Had some bad trades and now some good ones.. too bad most of these good ones are on 1hr.. has 30 more minutes to close...

Plus having one here at work (my pc stays up all the time) and one at home, then I can test like 2 people.

Whenever you can post the 2.2 v would be great Gary.. I think you said you were almost done with some of the corrections.
  • #454
  • Feb 12, 2009 3:06pm Feb 12, 2009 3:06pm
Gary, on this EA here at work, I put a 100 pip stop on all pairs.. at 3:30 there were trades and at 4:00 it should've moved the stop to high/low, but it did not. I guess because the 100 stop was greater than the +1 high/low??? I know it has been working.
  • #455
  • Feb 12, 2009 3:18pm Feb 12, 2009 3:18pm
Todays trading results were horrible to say the least. However, the good news is that its the trading system, just a screw up in the ea. Today I had over 300% more trades than any day I've traded. It was death by a thousand cuts - the great majority of trades were losers, and small losers at that. I noticed this about mid day and noticed that almost all these trades closed before the entry candle had closed! The ea is not suppose to work that way! A bad bug indeed. I checked back for the week (every day has been a winner up till now) and sure enough the same thing was happening but I didn't notice it (sometimes you can't see whats directly in front of you). I'm sure this is happening for everyone. Obviously I need to fix this and release version 2.2 - sorry for the screw up but thats why we test (and why we should all be using demo accounts at the moment). If someone was trying to get me to understand that earlier, I missed the message - sorry - some times it just takes a bigger hammer to get my attention. Back to the code - the bug hunt is on!

Gary
  • #456
  • Feb 12, 2009 3:20pm Feb 12, 2009 3:20pm
Quoting Pavatar
Hi ian -

ea is not currently written to work with 5 digit brokers.

Gary
Hi Gary,
Yes, I am aware that the EA was built based upon 4 digit brokers. I just wanted to document the problem for 5 digits, especially since some of the things cannot curently be compensated for in the external parameter values.

Ian
  • #457
  • Edited 5:07pm Feb 12, 2009 3:24pm | Edited 5:07pm
Quoting Pavatar
Todays trading results were horrible to say the least. However, the good news is that its the trading system, just a screw up in the ea. Today I had over 300% more trades than any day I've traded. It was death by a thousand cuts - the great majority of trades were losers, and small losers at that. I noticed this about mid day and noticed that almost all these trades closed before the entry candle had closed! The ea is not suppose to work that way! A bad bug indeed. I checked back for the week (every day has been a winner up till now) and sure...
Hi Gary,
I appreciate your efforts. I can fix the 5 digit problems for myself, but do not have the MQ4 experience to tackle the deeper problems.
Good luck with your bug hunting.

Ian
  • #458
  • Feb 12, 2009 4:13pm Feb 12, 2009 4:13pm
Quoting llambert3
Gary, this is true. I meant to tell you yesterday about this. The initial stop of say 45 is moved to the high/low + 1 no matter what. So if the high/low is 70 pips away, the 45 should stay.
Honestly, I did all my testing by moving the s/l regardless of where it moved to. Even if it happened to be more than the s/l. Since this was the rule i stuck with it for testing.
"Keep your eyes on the helpers" - Mr. Rogers
  • #459
  • Feb 12, 2009 4:17pm Feb 12, 2009 4:17pm
Hello Gary,Please have the EA open every trade even if the same filter opens 2 trades in the same direction on 2 consecutive bars while the first is still open. I think this answers your question.Off to get my computer repaired. hopefully I will have it back in a few days or Monday at the latest, but who knows.See you all soon...Damon
"Keep your eyes on the helpers" - Mr. Rogers
  • #460
  • Edited 7:00pm Feb 12, 2009 5:05pm | Edited 7:00pm
hi all,

here's today report, hope it helps a bit.
all 5 pairs, all single filters ON, double and triple filters OFF. also, I set up my account at 9GMT so a couple of hours were missed in the morning.

now with regards to digits, I've seen in many forums and on one of the brokers websites that if you are provided with 5 digits the only thing you need is modify your SL or TP as follows:

4 digits: SL/TP 35pips
the same in 5 digits: 350pips.
Basically an extra zero at the end. (or if you are sooo sophisticated it can be any number I guess.)

some people state this works with EAs as well, I haven't tested.
I tried Alpari UK demo (they provide 5 digits), but the EA simply did not work at all, I received hundreds of error messages.
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