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Nanningbob 60x90 EA

  • #1,361
  • Mar 16, 2009 12:26pm Mar 16, 2009 12:26pm
Quoting Verto
The EA uses a magicnumber. It won't close or mess with any open orders you have up manually. IBFX lets you open sells and longs on the same account. There is no problem there. The EA works all by itself and requires no manual trades from you. If you want to trade the pairs on your own there is no problems there the EA won't mess with them.
Assuming I wanted to do everything manually, how would I sell short a position when I am already long?

Thanks.
  • #1,362
  • Mar 16, 2009 12:49pm Mar 16, 2009 12:49pm
Quoting metalhead
Assuming I wanted to do everything manually, how would I sell short a position when I am already long?

Thanks.
"Everything manually?" As in... you don't let the EA do it? You can't... it would be WAY too hard...

Umm if you use meta trader though you just open a new sell order. Leave your buy order alone... it should just open right up.
  • #1,363
  • Mar 16, 2009 1:01pm Mar 16, 2009 1:01pm
Quoting Verto
"Everything manually?" As in... you don't let the EA do it? You can't... it would be WAY too hard...

Umm if you use meta trader though you just open a new sell order. Leave your buy order alone... it should just open right up.
Oh I see... so you have to close specific orders! If I have a buy order open and I sell, it doesn't automatically close that existing buy order.

I see.

Thanks.

What's way too hard about doing everything manually? I have a spreadsheet that gives me all the order positions I need so I just enter them whenever. I wish there was a way to show average price after multiple positions have been entered tho. I'm used to another charting platform (OEC) and this one is taking a while for me to learn. OEC has super easy drag and drop orders and cancel/modify order price/modify order quantity/ existing orders by moving it to where you want (like OANDA's, conceptually, except not crappy and ugly and hard to read).

Anyway the only way doing it manually would be hard would be if you were using multiple currencies.

I guess I should read up on EAs and figure out how to create/modify them and how to get them to trade for me if I have to go somewhere. lol.
  • #1,364
  • Mar 16, 2009 1:04pm Mar 16, 2009 1:04pm
Today I experienced 12% DD, but not stopped out yet. AUDCHF, AUDNZD, and NZDCHF are my problem, level 4, pairs.

Note: I didn't close down open trades on Friday. Testing the strats. strength and weaknesses.

TimeFreedom
  • #1,365
  • Mar 16, 2009 1:29pm Mar 16, 2009 1:29pm
  •  dethl
  • | Joined Mar 2009 | Status: Digital Jack-Of-All-Trades | 36 Posts
Doing some new testing ($75 demo mini account).

Trading 8 pairs (might as well be 7 as I don't expect the GBPUSD M1 chart to give me many trades, but I expect that anyway....its too volatile in the higher periods right now even with spike protection), some with spike protection and some without. So far from last night I'm up $4.17.
  • #1,366
  • Mar 16, 2009 2:46pm Mar 16, 2009 2:46pm
Yea stupid eurchf finally hit my stop as well, despite all the "preventative" methods I was trying. So you see, you can never count anything out with forex.

So, maybe another thing to do is whenever there is a govt intervention announced, if the stop hasn't been hit, just take the loss if you are around and see it. Well especially these days.
  • #1,367
  • Mar 16, 2009 3:10pm Mar 16, 2009 3:10pm
  •  dethl
  • | Joined Mar 2009 | Status: Digital Jack-Of-All-Trades | 36 Posts
Quoting llambert3
Yea stupid eurchf finally hit my stop as well, despite all the "preventative" methods I was trying. So you see, you can never count anything out with forex.

So, maybe another thing to do is whenever there is a govt intervention announced, if the stop hasn't been hit, just take the loss if you are around and see it. Well especially these days.
I think I left out the EURCHF pair since it was too volatile even with spike protection on the strategy tester.

I'd definitely turn off the EA or make sure a trailing stop is going on when big news comes out. I may do that come Wednesday for my USD pairs.
  • #1,368
  • Mar 16, 2009 3:56pm Mar 16, 2009 3:56pm
how are you guys with IBFX trading this on the pairs with wide spreads (pretty much anything other than EURUSD, USDJPY and GBPUSD?
  • #1,369
  • Mar 16, 2009 3:57pm Mar 16, 2009 3:57pm
Quoting llambert3
Yea stupid eurchf finally hit my stop as well, despite all the "preventative" methods I was trying.
What "preventative" methods were you trying? Are you running additional trades in the opposite direction to protect you from "death trades"? If you do this correctly you will end up with a net profit from death trades (however hedging in this method usually ends up resulting in a loss if your trade exits at the first TP level). Worst case scenario is your death trade loss is reduced.
  • #1,370
  • Mar 16, 2009 4:26pm Mar 16, 2009 4:26pm
Quoting metalhead
What "preventative" methods were you trying? Are you running additional trades in the opposite direction to protect you from "death trades"? If you do this correctly you will end up with a net profit from death trades (however hedging in this method usually ends up resulting in a loss if your trade exits at the first TP level). Worst case scenario is your death trade loss is reduced.
yeh we've looked at the hedging option before but it has its drawbacks, the best defence is good risk management and good currency pairs and settings...

on another note that new method has another benefit besides a larger TP for level 1's, cos it closes trades when opening new levels it also does not strain margin as much as the current system....

lets hope we can get something programmed... then once again get it programmed for 5 digits, and then once again programmed for ECN style connections...

Grabbing the bull by the horns!
  • #1,371
  • Edited Mar 17, 2009 12:12am Mar 16, 2009 5:04pm | Edited Mar 17, 2009 12:12am
I believe many of you are already trying themselves but let me just post my results in Excel format, although it is only for 3 days.

I've modified Spook's EA for ECN by adding a "0" to Distance, TP, SL and Slippage to work with this 5 digits server. As I reported before this EA places instant orders without SL and TP and a second later modifies to place SL and TP, working smoothly on this demo.

As to the live, I've asked MBT but no answer, implying it's not yet available. There was a note with I opend the demo a month ago that they will notify soon as live gets available. So guess need to simply wait...

With the tighter spread, TP should be hit better (than wide spread services) while commissions need to be paid, which isn't small as you can see.

Anyone with strong math please input their views on the advantages/disadvangates.

Finally MBT resets history files on Demo on 15th evey month (so was told) but the 3 days history is maintained crossing the 15th.

RS
Attached File(s)
File Type: xls DetailedStatement 2009 03 16 40004109.xls   55 KB | 506 downloads
  • #1,372
  • Mar 16, 2009 5:18pm Mar 16, 2009 5:18pm
Quoting RisingSun
I believe many of you are already trying themselves but let me just post my results in Excel format, although it is only for 3 days.

I've modified Spook's EA for ECN by adding a "0" to TP, SL and Slippage to work with this 5 digits server. As I reported before this EA places instant orders without SL and TP and a second later modifies to place SL and TP, working smoothly on this demo.

As to the live, I've asked MBT but no answer, implying it's not yet available. There was a note with I opend the demo a month ago that they will notify soon...
i think there commissions are ok, isnt the ratio like $5 in and $5 out with a standard lot size for a pair with USD ie EURUSD... as a pip is $10 its only 1 pip commission...

i heard there may be issues with mbt regarding them shutting down for maintenance after the US session... anyone heard or know about this?

EDIT: ok i see the second page, commisions seems to vary??? looks to be a bit over 1 pip commision, like 1.2 ish...
hmm oh well thats still cheaper anways as we get ECN feed and not positions taken against (i reckon they still will have to for mini lots - maby not standards)
Grabbing the bull by the horns!
  • #1,373
  • Mar 16, 2009 5:35pm Mar 16, 2009 5:35pm
Quoting metalhead
What "preventative" methods were you trying? Are you running additional trades in the opposite direction to protect you from "death trades"? If you do this correctly you will end up with a net profit from death trades (however hedging in this method usually ends up resulting in a loss if your trade exits at the first TP level). Worst case scenario is your death trade loss is reduced.
no not hedging.. changing the wait from center, modifying stop, etc.. although on eurchf the stop was left alone.
  • #1,374
  • Mar 16, 2009 5:39pm Mar 16, 2009 5:39pm
Quoting whitegoodman
i heard there may be issues with mbt regarding them shutting down for maintenance after the US session... anyone heard or know about this?

EDIT: ok i see the second page, commisions seems to vary??? looks to be a bit over 1 pip commision, like 1.2 ish...
hmm oh well thats still cheaper anways as we get ECN feed and not positions taken against (i reckon they still will have to for mini lots - maby not standards)
I traded mbt before.. i still have account with no money in it. I just couldn't stand the navigator.. I will try the mt4 when it is ready. The 5pm maintenance would be like ibfx going offline for 5 to 10 minutes is all. As long as your tp/sl wasn't around that time it wasn't an issue really, except for the aggrivation, but at the time I was with them for some reason I cared at 5pm est.. Now I hardly am looking at the pc around this time.
  • #1,375
  • Mar 16, 2009 6:16pm Mar 16, 2009 6:16pm
I watched the MB trading screencast, they have removed the downtime maintenance in MT4 accounts so there won't be interruption when they go live, and they are working to do the same in navigator accounts.

Quoting llambert3
I traded mbt before.. i still have account with no money in it. I just couldn't stand the navigator.. I will try the mt4 when it is ready. The 5pm maintenance would be like ibfx going offline for 5 to 10 minutes is all. As long as your tp/sl wasn't around that time it wasn't an issue really, except for the aggrivation, but at the time I was with them for some reason I cared at 5pm est.. Now I hardly am looking at the pc around this time.
  • #1,376
  • Mar 16, 2009 6:16pm Mar 16, 2009 6:16pm
has this been backtested taking the opening trade in the direction of the trend? So it hits the first level and instead of going counter trend, you go with the trend.

This may reverse death trade scenarios such that you end up with multiple wins (enter, TP at first level, re-enter, TP at first level, etc.) rather than one losing trade.

The thing to be on the lookout for here, then, is price hitting the first level and then immediately reversing.

Chart showing first level above and below the mean. In the circled area we would have entered short instead of long. Upon TP, re enter.
Attached Image (click to enlarge)
Click to Enlarge Name: test1.gif Size: 58 KB
  • #1,377
  • Edited 7:29pm Mar 16, 2009 7:01pm | Edited 7:29pm
holy learning curve right here with MT4...

I had my orders open and placed a sell order thinking it would close everything. Nope.

Anyway, I was chatting with tech support and asked "is there a way to close all open positions?" and he told me to install one of their custom indicators called IBFX - QuickCloseAll.

I did, and it didn't work, so I went back to tech support chat and he said "oh yeah, it only works if you opened the positions with a custom script was well" (wtf). So then he told me how to search for custom scripts and stuff.

I found one called JimsCloseOrders that is supposed to close all active orders. It's an EA. When I drag it to the chart, I just get a little smiley face next to it in the corner. How do I *use* it? How do I make an EA do what it is supposed to do? In other words, I have 3 open orders right now (but they're all hedged so my P/L isn't changing). I want to close them all via this EA. How do I do that?

I don't like how you have to treat each order separately... if I add to my position 5 times so that I have 5 lots open, I can't just add 1 sell order for 5 lots, I have to manually add a TP for each existing order. That's tedious! I don't know how you guys do it!!

The only thing that's cool about that is it allows hedging without subaccounts. But for just normal trading it gets time consuming and confusing.

edit - sorry kind of off topic
  • #1,378
  • Mar 16, 2009 7:26pm Mar 16, 2009 7:26pm
Quoting metalhead
holy learning curve right here with MT4...

I had my orders open and placed a sell order thinking it would close everything. Nope.

Anyway, I was chatting with tech support and asked "is there a way to close all open positions?" and he told me to install one of their custom indicators called IBFX - QuickCloseAll.

I did, and it didn't work, so I went back to tech support chat and he said "oh yeah, it only works if you opened the positions with a custom script was well" (wtf). So then he told me how to search for custom scripts and...
Try this script to close all trades. Put in the script folder.
Attached File(s)
File Type: mq4 CloseAll.mq4   6 KB | 304 downloads
  • #1,379
  • Mar 16, 2009 7:32pm Mar 16, 2009 7:32pm
Quoting newera
Try this script to close all trades. Put in the script folder.
Maybe I'm doing somethign wrong.

I opened some orders.

Then I dragged that script onto the chart.

A menu popped up. I clicked "OK" and nothing happened (my orders are still active).

Oh wait, I clicked "enable live trading" and it closed them. They've been replaced by little triangle things. What are those? How come my other orders didn't have them when they were closed?
  • #1,380
  • Mar 16, 2009 8:25pm Mar 16, 2009 8:25pm
Here's how I am approaching this.

On less volatile pairs (EURUSD, EURGBP, GBPUSD; volatility info from nanningbob's Excel spreadhseet):

In order to make this profitable in the long term you are going to need to be running multiple trades at the same time in possibly opposite directions per currency pair.

Before we go any further, read about Parrondo's Paradox:

http://en.wikipedia.org/wiki/Parrondo's_paradox

Cliffs Notes:
- Two losing strategies applied together can produce a winning strategy

Mindblowing, right?

Watch this animation to get an idea for how this works conceptually:

http://www.cut-the-knot.org/Curricul.../Ratchet.shtml

Alright, now what we have to do is establish a criteria for entering for a given pair in either direction. I'm working on ways to do this right now. We'll need separate rules for entering with the trend vs. entering countertrend.

I wonder what would happen if we entered both at the same time!

Right now however I am exploring the following two situations: 1) entering with the trend and against the trend at the same time from the beginning (the position sizes are staggered) and 2) entering countertrend from the beginning and upon hitting the second level, beginning to build a trend following position.

So as one trade is drawing down against the trend, the other one is entering and re-entering with the trend, simultaneous adding to profits and reducing risk in the event of a death trade. In some simulations it's possible to have death trades end up being net profitable, but you are sacrificing your first level profit in doing so. However in these cases once level 2 is entered, you are guaranteed profit no matter what price does.

Position sizing algorithms also must be established.

Unfortunately, Microsoft Excel's Solver isn't working as well for optimizing all the variables as it should. And it's ignoring some of the parameters I give it (like forcing position size to be a positive integer) and it's giving me results like "-2.6599999999" lots. lol. So I"m having to do a lot of this by hand which sucks.
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