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Daily Scalping EA - Discussion Thread

  • #181
  • Mar 30, 2007 12:16pm Mar 30, 2007 12:16pm
hmmm.....looks like that offset might have something to do with it. On my demo it traded on the 27th, and last night my first order was a buy, just like it should be.

I have another demo with the offset of 6 and it didn't trade on the 27th either. BUT..it traded with a buy last night (right direction) last night.

Strange.

Quoting traderone
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.
  • #182
  • Mar 30, 2007 7:21pm Mar 30, 2007 7:21pm
Here's my statement about March 2007 using Daily Scalping EA, notice that even if the overal profit percentage is only 34% , I gained more than 700 pips !! This tell us again that there's no need to search for the almost-100% winning system, but with a good money management and risk:reward the account could grow nicely

Settings used in EA are :

TakeProfit = 200;
StopLoss = 40;
HourToCloseOrders = 17;
MaxLossesTradesPerDay = 2;



P.S.: I'm sorry but actually I cannot handle all the requests about EA improvement.
Anyway I want to thank you all for all your ideas and comments
Maybe it could be a good idea if someone could reorganize the features to be coded in next version, so when I will be less busy I could take a look and code it.

cya,
Skyline
Attached File(s)
File Type: zip Statement_March2007.zip   8 KB | 706 downloads
  • #183
  • Mar 31, 2007 7:45am Mar 31, 2007 7:45am
Skyline thanks

somme body have the same month to compare 2 stops and multiple stops?

- Reverse Rules
If a stop order is hit than we reverse our trade (with the same stop loss and target rules we had before)
we continue to reverse multiple times a day if we keep hitting the stop loss until the day is finished (see finish for day rules below)


maxlooses perday= 10 .. multiple times
  • #184
  • Mar 31, 2007 7:47am Mar 31, 2007 7:47am
i start 3 days ago

i have only this statements
Attached File(s)
File Type: zip 31 march.zip   2 KB | 510 downloads
  • #185
  • Mar 31, 2007 12:20pm Mar 31, 2007 12:20pm
Quoting skyline
P.S.: I'm sorry but actually I cannot handle all the requests about EA improvement.
Anyway I want to thank you all for all your ideas and comments
Maybe it could be a good idea if someone could reorganize the features to be coded in next version, so when I will be less busy I could take a look and code it.
Lines in red I have coded in my version, If skyline doesn't have the time I would be happy to add these things to his latest version or give the code to add.
Overrule direction T/F
Go Long T/F (is overrule true)
UseATR T/F
Sl ATR %
TP ATR %
BE ATR %
ATR Period to use
(if using ATR and Sunday exists, use Friday ATR)
Fridayclosehour
Close all on Friday T/F
Carry Trades T/F (don't close orders if same direction)
Days to reverse (not sure if this is needed, all tests say 3 is best but right now is useful as an overrule direction set to 1 day to reverse)
Extern bool comment=
MM for micro lots
Quote
"extern bool AccountIsMicro = true;"

double LotsOptimized()
{
if(mm==false) return(Lots);
double lot=Lots;
int decimalPlaces=1;

if(AccountIsMicro==true) decimalPlaces=2;
lot=NormalizeDouble(AccountFreeMargin()*TradeSizeP ercent/1000.0,decimalPlaces);
if(lot<0.1 && AccountIsMicro==false) lot=0.1;
if(lot<0.01 && AccountIsMicro==true) lot=0.01;
if(lot>99) lot=99;
return(lot);
}

The only other thing I would like and I am still not sure if it would help is to have the trailing stop work as a trailing stop and not reverse orders when hit. The way it is now, it is basically useless. The only way I can think to do this would be to have the reverse orders pending orders but that would mean a recode. The other benefits I see to that would be the ability to use a BE on active orders without reversing, and the ability to move the pending independently of the active order. Example...
Move to BE = 40
Move pending to BE = 55


One more thought I had was how to beat the ranging market. If the ATR was low have a no trade condition...

If (ATRvalue ()<= notradevalue()) {TradeMode = "NONE";}

This idea is preliminary and I have only visually looked at it, no testing. I would like to hear your inputs on this.

I think that covers the request list. Also as a note, I finished the month about 1400 pips up. All JPY crosses positive and all USD crosses negative, USD/JPY positive, 6 pairs, 2 loss per day. I had about 5 no trade days due to errors that most would have ended up positive.
  • #186
  • Mar 31, 2007 2:57pm Mar 31, 2007 2:57pm
AS per daily EA thread suggest the following option for greatest profit:

Open trade at 23.00 in same direction as previous days candle
Carry over open trade to next day of not stopped out
NO TP and 40 SL, max 2 losses per day.
Open a new trade in same direction and move stop on old trade to new trade SL
Continue opening new trades in same direction until three days is up, changing previous days trade SL to new trade SL..
Reverse direction with one trade after three days and start process again..
  • #187
  • Apr 1, 2007 6:21am Apr 1, 2007 6:21am
What do you guys think about this:

Instead of entering a buy or sell order you enter a hedge. The second set of orders, lets call them protective, will have a SL and TP of 40. So when ranging you end up with 0 losses. Your risk is when the SL of the protective order is hit and market reverses. But this should happen less often than having a ranging market. Plus you don't need to limit trades.

Anyone cares to backtest?
  • #188
  • Apr 2, 2007 12:51pm Apr 2, 2007 12:51pm
Quoting Scientist
What do you guys think about this:

Instead of entering a buy or sell order you enter a hedge. The second set of orders, lets call them protective, will have a SL and TP of 40. So when ranging you end up with 0 losses. Your risk is when the SL of the protective order is hit and market reverses. But this should happen less often than having a ranging market. Plus you don't need to limit trades.

Anyone cares to backtest?

I've been testing this on tKimbles open-close trending system. The hedge feature just as you described it has produced fabulous results. Hedging protects your balance while the pair is ranging. The hedge won't be in place when trending due to a lack of need.

My backtesting results on the open-close trending from 12-25-06 to date turned a 1,000 pip negative (sum of all stop losses) into a 2000 pip positive. This should work very well in the daily as well.

Negatives almost stop completely while profits continue.

I may try to study the effects on the daily as well, but it will be a little while before I can get around to it.

yezbick
  • #189
  • Apr 3, 2007 9:00am Apr 3, 2007 9:00am
Quoting yezbick
I've been testing this on tKimbles open-close trending system. The hedge feature just as you described it has produced fabulous results. Hedging protects your balance while the pair is ranging. The hedge won't be in place when trending due to a lack of need.

My backtesting results on the open-close trending from 12-25-06 to date turned a 1,000 pip negative (sum of all stop losses) into a 2000 pip positive. This should work very well in the daily as well.

Negatives almost stop completely while profits continue.

I may try to study the effects on the daily as well, but it will be a little while before I can get around to it.

yezbick
Wow Yezbick........what a huge change in the profit margin (from -1000 to + 2000 pips). Can you please explain or tell me where I can read about hedging. That is one feature of trading I am in the dark about.

Thanks,

Tim
  • #190
  • Apr 3, 2007 12:00pm Apr 3, 2007 12:00pm
Quoting yezbick
I've been testing this on tKimbles open-close trending system. The hedge feature just as you described it has produced fabulous results. Hedging protects your balance while the pair is ranging. The hedge won't be in place when trending due to a lack of need.

My backtesting results on the open-close trending from 12-25-06 to date turned a 1,000 pip negative (sum of all stop losses) into a 2000 pip positive. This should work very well in the daily as well.

Negatives almost stop completely while profits continue.

I may try to study the effects on the daily as well, but it will be a little while before I can get around to it.

yezbick
Please keep us posted since I'm overwhelmed with projects at the moment.

Thanks
  • #191
  • Apr 3, 2007 12:29pm Apr 3, 2007 12:29pm
Quoting tim4kaye
Wow Yezbick........what a huge change in the profit margin (from -1000 to + 2000 pips). Can you please explain or tell me where I can read about hedging. That is one feature of trading I am in the dark about.

Thanks,

Tim
A hedge is simply when you buy and sell the same currency pair at the same time.
  • #192
  • Edited 3:48pm Apr 3, 2007 3:34pm | Edited 3:48pm
Quoting tim4kaye
Wow Yezbick........what a huge change in the profit margin (from -1000 to + 2000 pips). Can you please explain or tell me where I can read about hedging. That is one feature of trading I am in the dark about.

Thanks,

Tim

There are a couple of areas on forex factory and off that you can find information about hedging. Some people hedge using different pairs, but I don't feel it is an exact science and hence not a perfect hedge. A thread regarding this can be found here: http://forexfactory.com/showthread.php?t=13137

I personally prefer to hedge with the pair that I'm trading and needs hedging. A recent news article by Dailyfx showed the following which gave me the idea to look into it deeper. The article is located here: http://forexfactory.com/showthread.php?t=22633 . It also contains information on hedging and the best pairs to do it in at the time the article was listed.

After I read the above article I saw the following thread come through the forum. It is short, but very informative about hedging. It can be found here: http://forexfactory.com/showthread.p...277#post257277

I don't want to go into to much detail here due to the fact that this is Daily strategy EA thread and not a thread about hedging. I beleive though that this could be a very viable option to enhancing his system.

hope this helps, if you need additional information please let me know. I'll be posting here when I have the results of how hedging would have affected this system if it was used instead of a SL.

yezbick
  • #193
  • Apr 3, 2007 4:58pm Apr 3, 2007 4:58pm
I am new to EA's and I can not get the EA to run live. I put it on the chart and everything but the next trade just says none. What am I not doing? Any help would be great.
  • #194
  • Apr 3, 2007 5:20pm Apr 3, 2007 5:20pm
You need to click 'Allow Live Trades' on the Common Tab under the Properties Section. You will find this if you right click on the chart. If you have a 'Smiley Face, in the upper right hand corner of the chart, then it's attached correctly. There are several reasons that it hasn't produced any trades. Probably because the criteria for entering the trade hasn't been met yet. If your EA is scheduled to enter at 8 GMT time, and it's only 5 GMT time, then no trades will be opened until it's 8 GMT.

Perhaps there are errors. You need to look in the Journal tab on the chart and see what it says as well as the Experts tab at the bottom of the chart.

I hope this helps.

Carol


Quoting shawnmassie
I am new to EA's and I can not get the EA to run live. I put it on the chart and everything but the next trade just says none. What am I not doing? Any help would be great.
  • #195
  • Apr 3, 2007 5:52pm Apr 3, 2007 5:52pm
Quoting yezbick
There are a couple of areas on forex factory and off that you can find information about hedging. Some people hedge using different pairs, but I don't feel it is an exact science and hence not a perfect hedge. A thread regarding this can be found here: http://forexfactory.com/showthread.php?t=13137

I personally prefer to hedge with the pair that I'm trading and needs hedging. A recent news article by Dailyfx showed the following which gave me the idea to look into it deeper. The article is located here: http://forexfactory.com/showthread.php?t=22633 . It also contains information on hedging and the best pairs to do it in at the time the article was listed.

After I read the above article I saw the following thread come through the forum. It is short, but very informative about hedging. It can be found here: http://forexfactory.com/showthread.p...277#post257277

I don't want to go into to much detail here due to the fact that this is Daily strategy EA thread and not a thread about hedging. I beleive though that this could be a very viable option to enhancing his system.

hope this helps, if you need additional information please let me know. I'll be posting here when I have the results of how hedging would have affected this system if it was used instead of a SL.

yezbick
Thanks Yesbick for all the information. This will be a great start.

Tim
  • #196
  • Apr 5, 2007 11:58am Apr 5, 2007 11:58am
I keep plodding along with my late opening 1.0f.

I open the trade at 2 AM EST (6 GMT now) on IBFX. The offset is 6 on IB-FX.

TP 150, SL 50, max trades 2. I close the trades after 8 hours (10 AM EST).

I like it.
Attached File(s)
File Type: zip daily_lateapr5.ZIP   2 KB | 625 downloads
Don Life is expensive, but includes a free trip around the sun.
  • #197
  • Apr 6, 2007 4:08am Apr 6, 2007 4:08am
Quoting yezbick
The hedge won't be in place when trending due to a lack of need.

yezbick
How would you define trending? Fundamentals like carry trade unwinding or use an indicator/system or all together?
  • #198
  • Apr 6, 2007 7:17am Apr 6, 2007 7:17am
Quoting Scientist
How would you define trending? Fundamentals like carry trade unwinding or use an indicator/system or all together?
A couple of ways to define trending. First the oposite of trending is ranging which can be seen by a doji candle on the daily chart. Trending for the tKimble daily could be defined as any time the direction is sustained in a given direction for greater than 50 pips. Ultimately, trending is the oposite of what most people call wipsaw. Trending is price based not fundamental or technical based.
  • #199
  • Apr 6, 2007 8:23am Apr 6, 2007 8:23am
Quoting yezbick
A couple of ways to define trending. First the oposite of trending is ranging which can be seen by a doji candle on the daily chart. Trending for the tKimble daily could be defined as any time the direction is sustained in a given direction for greater than 50 pips. Ultimately, trending is the oposite of what most people call wipsaw. Trending is price based not fundamental or technical based.
But how would you know for entering the hedge or not?
  • #200
  • Apr 7, 2007 11:20pm Apr 7, 2007 11:20pm
Quoting Scientist
But how would you know for entering the hedge or not?
Basically the rules that I have created and appear to work for the "Open-Close Trending system are that you refuse to take a SL. I hedge instead of taking the SL or SAR in this case waiting for the pair to return to a positive position for the trade position that would have lost pips.

I have found that at least in the open close trending the following result happens when I hedge instead of taking the SL and issuing a SAR.

There were 13 bad trades since 12-25-06 that resulted in a loss of 1044 pips total. When I hedge instead of taking the SL. 10 of the 13 bad trades resulted in a 2,030 pip profit or a additional 3000+ pips to be added to the already positive system of 5000 plus pips. This brings a total of 8482 pips in the Open Close trending system in the last 3 months or almost 3000 pips a month. Quite a amazing results.

I have yet to see how this could be put into place on the tKimble Daily but I feel that the results would be astonishing just as they were in the other system. Hopefully, I'll have a chance to get around to it soon and post the results.

Hope this helps,

yezbick
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