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Attachments: Burger Straddle Script
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Burger Straddle Script

  • #221
  • Apr 2, 2007 10:13am Apr 2, 2007 10:13am
That comes may be from your TS set to 5 (BK told us that this feature was not totally correct).
BTW who is your broker? because I don't know a MT4 broker with 5 pips TS authorized.
thx
  • #222
  • Apr 2, 2007 10:35am Apr 2, 2007 10:35am
hello Bk thanks for the script i have tried to use the v3g version but it din't load on my platform. i enabled DDL but the problem still persists. what shld i do
i copied this from my expert

16:20:56 Burger Straddle Script EURUSD,H1 inputs: ScriptName="Burger Straddle Script v3g"; ScriptURL="http://www.forexfactory.com/showthread.php?p=250561"; _comment1="=== Set 1 ==="; BuyLot1=1; SellLot1=1; StopLoss1=10; TakeProfit1=50; TrailingStop1=20; _comment2="=== Set 2 ==="; BuyLot2=0; SellLot2=0; StopLoss2=5; TakeProfit2=8; TrailingStop2=0; _comment3="=== Price Distances ==="; MinDistance=10; OrdDistance=10; MaxDistance=10; MaximumSpread=5; _comment4="=== NewsTime in Local Time ==="; NewsTime="14:30GMT"; SecStartOrder=120; SecModifyOrder=15; SecDeleteOrder=15; SecTrailingTime=300; _comment5="=== Miscellaneous ==="; EnableSound=true; OneCancelOther=true; NewsFeed=true;
16:26:33 Burger Straddle Script EURUSD,H1: shutdown by timeout
16:26:33 Burger Straddle Script EURUSD,H1: terminated by timeout
  • #223
  • Apr 2, 2007 11:44am Apr 2, 2007 11:44am
Quoting jeffreytp
I just tried out the Burger script this morning for the 10am EST trade. attached is my journal. There are some questions I need answered, as I am confused:

1) Is there script setup to keep modifying the pending orders between SecModifyOrder and News Time? I see lots of pending orders being modified in my journal (attached).
Yes. its called SecModifyOrder. According to your journal, its doing its exact task.

2) What happened in lines 28 & 30 of the attached file. Why was the order modification invalid?[/quote]

This will happen when market price moved when Script Sent the modification command to the broker. If your broker is slow or your connection is slow, this will most definitely happen.

Quote
3) Which line would indicate one of the pending orders was actually executed?
this info is not recorded by MT4.. BurgerStraddleScript (nor other EA) can accurately tell you an order is actually executed. You will just SEE it in your trade (or account history).


Quote
4) Finally, I had my StopLoss1 = 10, TrailingStop1 = 5, MinDistance OrdDistance MaxDistance = 5. I was filled at 1.9794 going long. My intial stop loss should have been set at 1.9784, correct (which it was according to line 20)? Why was my SL changed from 1.9784 to 1.9788 in line 7 of the attached file?
TrailingStrop = 5 right? so what will you expect?
Price moved, so it will move SL 5 pips below the Bid price for a buy and ASK price for a sell.



Quote
The results of this trade were bought at 1.9794 and was stopped out at 1.9788 for a net profit of -6 (loss)

It was a bad data.. 1.9800 is a resistance level..
  • #224
  • Apr 2, 2007 11:45am Apr 2, 2007 11:45am
Quoting OwenT
That comes may be from your TS set to 5 (BK told us that this feature was not totally correct).
BTW who is your broker? because I don't know a MT4 broker with 5 pips TS authorized.
thx
No broker allows lower than 15 TS..

BurgerStraddleScript uses a simulted TS.. It moves the SL as price move.
  • #225
  • Apr 2, 2007 11:47am Apr 2, 2007 11:47am
Quoting toppz
NewsFeed=true;
16:26:33 Burger Straddle Script EURUSD,H1: shutdown by timeout
16:26:33 Burger Straddle Script EURUSD,H1: terminated by timeout
Bothersome NewsFeed. I have this removed in v3h and separate it altogether.
  • #226
  • Apr 2, 2007 11:50am Apr 2, 2007 11:50am
version 3h

Remove the bothersome NewsFeed - will release it as a separate Indicator.
Introduces MaxTrailingStop.
You can now specify at what level (in profits) TrailingStop will stop Trailing.

For those wanting it to bring SL to Break even, then set MaxTrailingStop to 0...
Lock in 5 pips profit? Set MaxTrailignStop to 5
Lock in 50 pips profit? Set MaxtrailingStop to 50..
  • #227
  • Apr 2, 2007 12:10pm Apr 2, 2007 12:10pm
Quoting BurgerKing
version 3h

Remove the bothersome NewsFeed - will release it as a separate Indicator.
Introduces MaxTrailingStop.
You can now specify at what level (in profits) TrailingStop will stop Trailing.

For those wanting it to bring SL to Break even, then set MaxTrailingStop to 0...
Lock in 5 pips profit? Set MaxTrailignStop to 5
Lock in 50 pips profit? Set MaxtrailingStop to 50..
I was hoping this would get added. Thank you.
  • #228
  • Apr 2, 2007 12:23pm Apr 2, 2007 12:23pm
Quoting BurgerKing
TrailingStrop = 5 right? so what will you expect?
Price moved, so it will move SL 5 pips below the Bid price for a buy and ASK price for a sell.
So, if I have:
StopLoss1 = 10
TrailingStop1 = 5 (does this mean the SL will be increased in multiples of 5)?
bid 1.7995 ask 1.8000

and I get filled at 1.8000 (long), will this script automatically set my new SL at 1.7990?

What does the pricing have to go to in order for my TS to be increased, and how much will the TS increase?
  • #229
  • Apr 2, 2007 12:31pm Apr 2, 2007 12:31pm
Is there still a 1 lot restriction with this script? Is 1 lot, or 1 standard lot (10 mini lots, 100 micro lots?)
  • #230
  • Apr 2, 2007 12:37pm Apr 2, 2007 12:37pm
Burger, this is really starting to shape up nicely...more and more useful with each release.

I'm just trading microlots for now, as I'm a noob and also learning, but I like, I like!

The news works for me, now, as a separate indicator and the special broker script is useful.

Now, it would be nice, if as a group, we could perhaps start to compile used (and successful) settings for each broker.

One suggestion, if possible.

Is there anyway to save the results once the script is installed?
  • #231
  • Apr 2, 2007 12:41pm Apr 2, 2007 12:41pm
Hi Burger king ,just a suggestion : your nice indicator Burger calendar comes on the up left on the chart and when we lanch the script will be overwritten and will be impossible read anything , may be you can put in another corner,down left or down right ....ok i know that you can say ,before adding the script delete the indicator...what do you thing ?
Thanks for you fantastic script
  • #232
  • Apr 2, 2007 2:12pm Apr 2, 2007 2:12pm
In addition to specifying the # of lots to trade on the entry, there should also be an option to specify amount of risk as a % of account value versus specifying # of lots.

Example:

Current account value: $500
Margin: 200:1
I want to risk 5%
SL = 10

The script should calculate the # of lots to trade based on the inputs above. Based on these inputes the script should calculate that the # of lots to trade should be 2.5 mini lots or .25 standard lots.

Mini Lot Calculation = ((500*.05)/10) = 2.5 lots

I think this would be a healthy addition to the script.
  • #233
  • Apr 2, 2007 5:24pm Apr 2, 2007 5:24pm
Quoting jeffreytp
So, if I have:
StopLoss1 = 10
TrailingStop1 = 5 (does this mean the SL will be increased in multiples of 5)?
bid 1.7995 ask 1.8000

and I get filled at 1.8000 (long), will this script automatically set my new SL at 1.7990?

What does the pricing have to go to in order for my TS to be increased, and how much will the TS increase?
TrailingStop does not move in increments of 5. I will keep up with the current BID/ASK price.

Do note that TS takes into account the spread. Example:


Currency: GBPUSD
Spread: 3 pips

BUYSTOP: @1.9725, SL15, TP 50, TS5

Assuming a slow moving price. Once filled, it will appear as
Buy 1.9725 (Bid is currently @ 1.9722)
SL 1.9610
TP 1.9775
BurgerStraddleScript sees that the SL @1.9610 is lower than the computed trailing stop (1.9722 - 5 pips = 1.9717) and Script will bring the SL to 1.9717.
Now you will see it as
Buy 1.9725
SL 1.9617
TP 1.9775

Do remember, a tight TS is going to take you out during retracement.
A new feature is currently added MaxTrailingStop. During heavy volatility (and with it heavy retracements also), it would be prudent to trail only up to a specific distance and stop there. Give the price some room to work out (retrace). Of course you can close it once you feel it is stalling. Use the BurgerCalendar Indicator to check for the actual data release.


Quoting FraterFX

Is there anyway to save the results once the script is installed?
You mean, save the settings? Nope. You have to record it mannually with a pen and paper. ie, keep a hard copy journal. You should do that for all the trades you do. Personally I do video capture of my trades as journal - this way, I really see the actual movements pip per pip, retracements and all..

Quoting gioviforex
Hi Burger king ,just a suggestion : your nice indicator Burger calendar comes on the up left on the chart and when we lanch the script will be overwritten and will be impossible read anything , may be you can put in another corner,down left or down right ....ok i know that you can say ,before adding the script delete the indicator...what do you thing ?
Thanks for you fantastic script
Forgot to tell you all; move the title BURGER FOREX FACTORY CALENDAR around and the whole calendar follows (on the next tic update - I cant speed it up here as this is how MT4 indicator functions...)

Quote
In addition to specifying the # of lots to trade on the entry, there should also be an option to specify amount of risk as a % of account value versus specifying # of lots.
so, instead of specify 5 lots or 1 lot, specify 5% and it will know how many lots to trade?
  • #234
  • Apr 2, 2007 5:47pm Apr 2, 2007 5:47pm
Quoting BurgerKing
so, instead of specify 5 lots or 1 lot, specify 5% and it will know how many lots to trade?
Yes.

Maybe you can make the lot field so we can enter as an integer, or as a %. Kind of like you do with the NewsTime field. It takes it into account different date/time formats. I think that would be pretty cool, especially since Money Management is key to succeeding, in addition to an Amazing strategy/system.
  • #235
  • Apr 2, 2007 6:09pm Apr 2, 2007 6:09pm
Quoting BurgerKing
During heavy volatility (and with it heavy retracements also), it would be prudent to trail only up to a specific distance and stop there. Give the price some room to work out (retrace)
Burger King,

What if you wanted to just score the initial spike according to that particular news release's average move on the first thrust? for example, let's assume that throughout our own studies we realize that ISM Manufacturing spikes the GBPUSD for 20 pips on average in the first few seconds. Wouldn't it be wise to keep a tight trailing stop (let's say 5 pips) in order to lock in moreless 10 pips of that initial thrust? It is my experience that it's safer in the long run to simply bank in those first few pips rather than trying to stretch the move to its full possible potential.

What do you reckon?
  • #236
  • Apr 2, 2007 6:53pm Apr 2, 2007 6:53pm
Quoting WTB
Burger King,

What if you wanted to just score the initial spike according to that particular news release's average move on the first thrust? for example, let's assume that throughout our own studies we realize that ISM Manufacturing spikes the GBPUSD for 20 pips on average in the first few seconds. Wouldn't it be wise to keep a tight trailing stop (let's say 5 pips) in order to lock in moreless 10 pips of that initial thrust? It is my experience that it's safer in the long run to simply bank in those first few pips rather than trying to stretch the move to its full possible potential.

What do you reckon?
TrailingStop is one of the last addition to the BurgerStraddleScript. I personally havent used it as I keep my TP conservatively. In and out within seconds (albeit + time due to broker slow execution)..

Aggressive TS will stop you out on heavy news like NFP. but of course will protect you on reversal too..
Conservative TS will give you more profit on longer running volatility but will kill you big on reversals.
TrailingStop functionality is a personal choice. Conservative TS, aggressive TS will all work depending on your broker speed, volatility etc..
  • #237
  • Apr 2, 2007 8:21pm Apr 2, 2007 8:21pm
Hey bk why when i loded the script v3h its telling me that the license only allows $5 a pip but it used to be $10 a pip witch = 1lot why the change?
MIR
  • #238
  • Apr 3, 2007 4:18am Apr 3, 2007 4:18am
hello BK i tried the 3h and the same thing persists in the experts it shows that i placed the script but on the chart nothing shows

i got this in the expert"
10:06:01 Burger Straddle Script(2) USDCHF,M15 inputs: ScriptName="Burger Straddle Script v3h"; ScriptURL="http://www.forexfactory.com/showthread.php?p=250561"; _comment1="=== Set 1 ==="; BuyLot1=0.5; SellLot1=0.5; StopLoss1=10; TakeProfit1=50; TrailingStop1=10; MaxTrailingStop1=10; _comment2="=== Set 2 ==="; BuyLot2=0; SellLot2=0; StopLoss2=10; TakeProfit2=10; TrailingStop2=0; MaxTrailingStop2=10; _comment3="=== Price Distances ==="; MinDistance=10; OrdDistance=10; MaxDistance=10; MaximumSpread=3; _comment4="=== NewsTime in Local Time ==="; NewsTime="10:10"; SecStartOrder=60; SecModifyOrder=15; SecDeleteOrder=15; SecTrailingTime=300; _comment5="=== Miscellaneous ==="; EnableSound=true; OneCancelOther=true;
Attached Image
  • #239
  • Apr 3, 2007 4:50am Apr 3, 2007 4:50am
what do you think is the cause of this i have enabled the DDL and (i think i'v done every other thing)
  • #240
  • Apr 3, 2007 4:55am Apr 3, 2007 4:55am
Quoting toppz
what do you think is the cause of this i have enabled the DDL and (i think i'v done every other thing)
May be it's because you are putting the script direct in the experts folder instead of in the folder Experts/Scripts ???
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