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Daily Scalping EA - Discussion Thread

  • #161
  • Mar 26, 2007 5:46pm Mar 26, 2007 5:46pm
Quoting C.E.O.
The trail is a SAR trail. It kills accounts, dont know why but every backtest done does.
Yes I've wrote already about this. Trailing stop is no good with this SAR method. Why? Because best days are those with nice big move in one direction. But even nice big move in one direction has temporally pullbacks. Trailing stop will cause, that you will enter in wrong direction at these pullbacks. Whole nice move will be wasted.

If you want to use trailing stop, then you need to trade only one trade per day. What is OK, but that wouldn't be SAR method any more.

That's why I wrote to Skyline week or two ago, that trailing stop is not needed in his EA.
  • #162
  • Edited 6:44pm Mar 26, 2007 5:46pm | Edited 6:44pm
Quoting C.E.O.
...Ultimately I feel a BE, a trail that works as a normal trail, ability to use ATR, and ability to manually override direction should be the ultimate final goal for this EA. However as it stands I am up 1600 pips since 3/1/07 minus a few days due to errors. All with max 2 losses per day. More to follow...
Many thanks to Skyline of course for the originator of this EA !!! C.E.O. Thank you for your informative reply. I'm in full agreement with your statement above. I have both the fATR version you posted and the "H" SkyNonATR version and they sure are different inside! Dosn't look like to easy a mod to add the ART to the H but i'm gonna doodle anyway. . . though if you have any intentions of doing the same??? Sure would be happy to forward test.

On utilizing ATR as TP/SL i've been testing another ea that is calculating these levels utilizing the past 20/10/5/1 days ave. range which is also an interesting idea but waaaaay away from the original TK idea so i'll stop now.

I've seen several trades go from +20 to 30 and crash through the entry only to be -40...the BE idea would be nice to save so that are bound and determined to reverse on us, only problem is we don't know what is a reversal and what is a retracement! Ah, to have that crystal ball or an H.G. Wells time machine. Oh, just remembered, the time machine only went backwards??

CEO are you currently using your ATR tweak and if so which version F, G or ???

OK My doodle...an hour after the original post time...
YOU MUST NOT USE THIS IN A LIVE ACCOUNT>>>> DEMO ONLY !!!!
I just did a quick cut and paste of what appeared to be the differences, hit "compile" and lo and behold no errors... Then i put it up on the four majors and it did indeed open 4 proper TK trades immedeately (i forgot my 1worldFX feed was at GMT + 3 so trades were entered straight away because that feed was already in a new day. ooopps) Anyway, the TP/SL areas look like the ATR data calculated things nicely so time will tell if it closes out the trades properly. Due to my quick cut/paste there could be some serrious issues with this so PLEASE do not use this in anything other than a demo!!

here is the link to the ea, it is a combination of the "F" since that version by C.E.O. and others stated they were not having issues, and Sky's "H".

http://accrete.com/fx-mirror/mt4-exp...v1.0hATR01.mq4

: ) Thom
  • #163
  • Mar 26, 2007 5:54pm Mar 26, 2007 5:54pm
Quoting Mike
Can you change the comments in the ordersend functions to have the EA name in it rather than just "BUY ORDER"/"SELL ORDER"? It helps when running multiple EAs on an account.
Quoting skyline
Ok that's no problem Mike I will add it in next version
Skyline, if there will be next version, would you please add something like this for comment:

extern string EAComment;

string EA_Comment="";

{
EA_Comment = EAComment + " Skyline";
}

{
Ticket=OrderSend(Symbol().......,EA_Comment,.........);
}

(this is what I'm adding for my use after your every version update)

It is so nice, that you can add some small text, reminder, what settings you use when you are trading several different settings.

To all: If there will be Text option in EA settings, you need to keep it short, max 16 characters or there may some problems happen.
  • #164
  • Mar 26, 2007 9:50pm Mar 26, 2007 9:50pm
Quote
C.E.O

What settings are you using with the Scalper EA to get these results?

I have also given some thought to a BE move instead of a trailing SAR. In the little tessting I have done it appears to take you out of your direction to early though. I will admit my study in this area is not extensive though (only 3-4 weeks of testing).

Thanks for your input.

yezbick

Settings huh. Well I cant give you a clear answer because I havent used the same settings or EA version for the whole month. As I optomized the pair for the ATR version I switched over to that. The original settings work well but I like to make things better . I am playing 6 pairs however looking if I can force some pips out of the ranging ones. For the month all JPY pairs are positive with guppy being the BIG winner with $13291 trading one lot. All USD crosses are negative with cable being the big looser at $2408 in the red. I will post my statement at the end, however I did get beat up today and am down some 300 pips, almost all loosers.


Quote
And that would prove...?
Statistical probability. I dont want to get into the backtesting debate but if you know its limitations it can be a very valuable tool. Forget the 1-5m scalping EA's, you just cant backtest those but this method on a 1hr chart is perfect for testing.


Good job Accrete. Im using F, I didnt look at yours yet, but if Skylines next version doesnt have it, I will put it back in along with a BE.

Damn, gotta run, finish later........ Change the .txt file to .htm for the report
Attached Image
Attached File(s)
File Type: txt Dailyscalp.txt   74 KB | 581 downloads
  • #165
  • Mar 27, 2007 2:25pm Mar 27, 2007 2:25pm
help with Gmt setting please ..
i'm using demo with MIG ... i'm not really sure whats the correct setting ..
i'm in california now .. does that make any different ..??

thank you..
  • #166
  • Mar 27, 2007 4:14pm Mar 27, 2007 4:14pm
Quoting C.E.O.
...Good job Accrete. Im using F, I didnt look at yours yet, but if Skylines next version doesnt have it, I will put it back in along with a BE...
You're a funny guy C.E.O. you and Skyline did all the work! I just mushed'em together hoping they would work. GRIN.

The mushed version did work, as in entering trades properly, though i just slapped it up on the four majors (silly me!) in demo and saw two positive trades and two negative ones at the end of the day, closing in the negative. But the ATR was so large that no stop losses were hit, the price just ranged in the ART H/L all day. Not many pips to be had on a day like today with this type of a model, but the simplicity of it is so refreshing it is worth a valid forward test.

I like your idea of testing on many pairs, this might be a way to lessen the impact of the ranging days, which i think is what you were saying in your post.

Skyline, thanks again for your ongoing tweaking and doodling, you are doing a good thing here that many are greatful for.

: ) Thom
  • #167
  • Mar 28, 2007 7:01am Mar 28, 2007 7:01am
Skyline


its possible the EA will have magicnumber ?

to run this ea simultaneosly wiht other

thanks
  • #168
  • Mar 28, 2007 3:57pm Mar 28, 2007 3:57pm
WOW, how to blow a demo account in one nite!!!!

So i place the mushed version on my charts and changed the settings on the TP/SL/TS. I set the SL to .5 of ATR and the TS to .33 ATR... now i don't know what setting of those two drained the account but when i woke up to check the demo account out it had placed hundreds of orders and closed those orders nearly immedeately with -10 pips or so each!

Gotta just laugh at this sort of test and be thankful for demo accounts to blow out during the process.

Hey Don? How is your test going with opening the EA at (was it??) the 6am GMT time?

: ) Thom
  • #169
  • Mar 28, 2007 6:57pm Mar 28, 2007 6:57pm
Quoting accrete
WOW, how to blow a demo account in one nite!!!!

So i place the mushed version on my charts and changed the settings on the TP/SL/TS. I set the SL to .5 of ATR and the TS to .33 ATR... now i don't know what setting of those two drained the account but when i woke up to check the demo account out it had placed hundreds of orders and closed those orders nearly immedeately with -10 pips or so each!

Gotta just laugh at this sort of test and be thankful for demo accounts to blow out during the process.

Hey Don? How is your test going with opening the EA at (was it??) the 6am GMT time?

: ) Thom
Thom, What were your shift and close order settings? Were your orders placed in the same direction (all long) or did it SAR?
  • #170
  • Mar 29, 2007 1:49pm Mar 29, 2007 1:49pm
Hi everyone, and many thanks for all your hard work on this strategy. I have a few comments to offer on time zones.

Quoting ranlee
help with Gmt setting please ..
i'm using demo with MIG ... i'm not really sure whats the correct setting ..
i'm in california now .. does that make any different ..??

thank you..
Ranlee, both MIG and Alpari are always on CET (Central European Time). At the moment with summer time, that means that they are 2 hours ahead of GMT. In winter, like the UK, they shift back one hour closer to GMT, so MIG becomes GMT +1. Theoretically, that means that you would have to change your EA every 6 months for the shift, but I don't believe that's necessary, if you consider the following:

UK (and US) also have similar shifts for summer time, and my thoughts are that we want our trades to run throughout the year in the same relationship to the main UK and US markets. Hence, if you keep your settings for MIG at GMT +1, they will open at MIG chart time 01.00, which will be an hour ahead of the UK throughout the year and also keep a constant time differential from the US (except for those couple of weeks in March/Oct when the US is out of sync during changeover, but they shouldn't really matter). This also makes backtesting more reliable with these brokers as the main markets are doing their thing at the same relative times (except for Asia).

For brokers based on GMT, like Interbank??, despite the original system stating that you enter the trade on the 00.00 open, it appears to make more sense to shift your EA to +1 hour in summer so you still carry the constant relationship to the UK and US markets, especially if you're closing out early. Having said that, there is some argument, esp if you trade yen crosses, for the open time bearing a constant relationship to Asian markets, most of which don't have summer time.

To conclude, I would set MIG to +1 throughout the year, so your open is always the 01.00 candle. Also, the only relevance of your local time is when you have to get up in the night!

I use a small desktop utility program to help me out which shows multiple timezones and updates automatically for summertime - just Google to find one. I'm also attaching a useful EA which you can attach to MT which shows broker time, GMT, local time, etc. It needs a bit of fiddling around and doesn't update automatically for summer time, but it's quite neat, and I'm sure was posted for open use.

I hope this is of some use - it sure is a confusing subject!

Dutton
Attached File(s)
File Type: mq4 Clock[1].mq4   5 KB | 459 downloads
File Type: ex4 Clock[1].ex4   6 KB | 410 downloads
  • #171
  • Mar 29, 2007 11:42pm Mar 29, 2007 11:42pm
Hi Al, the EA was Stopping out and Reversing and doing it again, and again, and again...until the account had only $22 left when i checked the charts about 6 hours later!

Thom


Quoting Al_Have1
Thom, What were your shift and close order settings? Were your orders placed in the same direction (all long) or did it SAR?
  • #172
  • Mar 30, 2007 12:44am Mar 30, 2007 12:44am
Quoting dutton
Hi everyone, and many thanks for all your hard work on this strategy. I have a few comments to offer on time zones.


Ranlee, both MIG and Alpari are always on CET (Central European Time). At the moment with summer time, that means that they are 2 hours ahead of GMT. In winter, like the UK, they shift back one hour closer to GMT, so MIG becomes GMT +1. Theoretically, that means that you would have to change your EA every 6 months for the shift, but I don't believe that's necessary, if you consider the following:

UK (and US) also have similar shifts for summer time, and my thoughts are that we want our trades to run throughout the year in the same relationship to the main UK and US markets. Hence, if you keep your settings for MIG at GMT +1, they will open at MIG chart time 01.00, which will be an hour ahead of the UK throughout the year and also keep a constant time differential from the US (except for those couple of weeks in March/Oct when the US is out of sync during changeover, but they shouldn't really matter). This also makes backtesting more reliable with these brokers as the main markets are doing their thing at the same relative times (except for Asia).

For brokers based on GMT, like Interbank??, despite the original system stating that you enter the trade on the 00.00 open, it appears to make more sense to shift your EA to +1 hour in summer so you still carry the constant relationship to the UK and US markets, especially if you're closing out early. Having said that, there is some argument, esp if you trade yen crosses, for the open time bearing a constant relationship to Asian markets, most of which don't have summer time.

To conclude, I would set MIG to +1 throughout the year, so your open is always the 01.00 candle. Also, the only relevance of your local time is when you have to get up in the night!

I use a small desktop utility program to help me out which shows multiple timezones and updates automatically for summertime - just Google to find one. I'm also attaching a useful EA which you can attach to MT which shows broker time, GMT, local time, etc. It needs a bit of fiddling around and doesn't update automatically for summer time, but it's quite neat, and I'm sure was posted for open use.

I hope this is of some use - it sure is a confusing subject!

Dutton
oh .. yeah, this helps a lot understanding how to Set this GMT setting ..

thank you again...
  • #173
  • Mar 30, 2007 12:45am Mar 30, 2007 12:45am
Quoting accrete
WOW, how to blow a demo account in one nite!!!!

So i place the mushed version on my charts and changed the settings on the TP/SL/TS. I set the SL to .5 of ATR and the TS to .33 ATR... now i don't know what setting of those two drained the account but when i woke up to check the demo account out it had placed hundreds of orders and closed those orders nearly immedeately with -10 pips or so each!

Gotta just laugh at this sort of test and be thankful for demo accounts to blow out during the process.

Hey Don? How is your test going with opening the EA at (was it??) the 6am GMT time?

: ) Thom
aha ... man.. i thought i'm the only one ...
wonder why ... help please...
  • #174
  • Mar 30, 2007 1:08am Mar 30, 2007 1:08am
Quoting accrete
Hi Al, the EA was Stopping out and Reversing and doing it again, and again, and again...until the account had only $22 left when i checked the charts about 6 hours later!

Thom
Hi Thom which one is the version did you use ?

Skyline
  • #175
  • Mar 30, 2007 8:02am Mar 30, 2007 8:02am
Skyline,

I was reviewing updates to the strategy thread and the suggestion at the following post:

http://www.forexfactory.com/showthre...=13507&page=94

was to stay in the trade unless you are supposed to reverse and don't close trades at the end of the day. That would save pips on closing and reopening trades, unless people want to close their trades early.

So 3 suggestions:
1. Don't close orders unless the direction is supposed to switch. In which case use the time offset hour. And make this a user option (bool).
2. If you ARE in a trade, and the direction of a new trade would be in the same direction as your existing trade, just move the stop on the old trade to where the new trade's stop would be. If that stop would be past break-even, then you would move the stop on the previous trade, and then enter a second trade (optional) in the same direction. He says this resulted in an additional 2141 pips since 1/1/7. This would make the old trade a freebe and follow the rules for a new trade.
3. Not related to the above. On closing at end of day, check for Friday and change the shift as Friday close is earlier. Unless we are using the above to stay in the trade.
Thanks,
Mike Lollar
  • #176
  • Mar 30, 2007 11:12am Mar 30, 2007 11:12am
This week has been pretty bad, but I'm pleased to have come out on the plus side. +17. This is trading G/J. I'm using Daily Scalping EAv1.0f.

Settings:

TP - 100
SL - 40
Hour to Close - 17
Max Losses per Day - 2

The other settings are default. Hopefully next week will be better.
Thanks Skyline for the EA.
  • #177
  • Mar 30, 2007 11:16am Mar 30, 2007 11:16am
Eureka!

Are you trading on IBFX? I guess what I'm asking is what time are you initiating your trades? 0 GMT or at another time? thanks.
Don Life is expensive, but includes a free trip around the sun.
  • #178
  • Mar 30, 2007 11:33am Mar 30, 2007 11:33am
Greetings all.

Skyline i was testing my "mushed version" i mentioned in post 168 that's the experiment of taking your "H" and C.E.O.'s ATR versions and combined the two. The first few trades with the default ART .7/.7/.7 settings worked fine (well all trades were opened properly, though the range was so small that they never had a chanc to be hit any of those levels so were still open at the time-to-close setting). What went crazy w/the mushed ea version is that i changed the ART settings around to .7/.5/.33... next time i'll try .7/.7/.5 then another.

....so none of the above was anything "wrong" with any of the original Sky or C.E.O. work, i just tried to combine the two and with the above settings had a bad day! grin.

Mike, great ideas on code additions!

Don, what was your success rate this week with your settings and the trade-window time mod? (and can you post your settings again with the time-to-trade change you are using?)

: ) Thom
  • #179
  • Mar 30, 2007 11:38am Mar 30, 2007 11:38am
Hi Don,

On this demo, I'm using 0 GMT. Yes, it's with IBFX. Hope this helps.

Carol

Quoting traderone
Eureka!

Are you trading on IBFX? I guess what I'm asking is what time are you initiating your trades? 0 GMT or at another time? thanks.
  • #180
  • Mar 30, 2007 12:05pm Mar 30, 2007 12:05pm
Quoting accrete
Greetings all.

Don, what was your success rate this week with your settings and the trade-window time mod? (and can you post your settings again with the time-to-trade change you are using?)

: ) Thom
Not a good week. Made 1 pip!!!

I'm attaching two statements, one for this week only and one for all history of the account since March 16. The full test is still up 150 pips.

I use TP of 150. SL of 50. Max 2 trades. I set the EA for an offset of 6 which opens a trade at 6 GMT, or 2 am Eastern or 1 am Central time in the USA.

I am troubled by last night's action a little because the initial order was a sell and the previous day bar was a buy. Don't understand that unless the time offset made it use the current day bar which at that time was down. I haven't noticed that action before.

One other oddity was that the EA refused to trade on the 27th. Just nothing. Don't know what happened there.
Attached File(s)
File Type: zip daily_late all_week.ZIP   3 KB | 579 downloads
Don Life is expensive, but includes a free trip around the sun.
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