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Forex Trend Catcher EA

  • #21
  • Mar 17, 2009 4:52am Mar 17, 2009 4:52am
Hi all,

I am very interested in this service,
I tried to test it
but no trade has been made since yesterday.
is ti normal?

could you please share with us some statement about it?


thanks for everything
regards

ioopoipoi
  • #22
  • Mar 17, 2009 7:32am Mar 17, 2009 7:32am
Quoting vinesh
Prosper,
Thanks, I have put it it at default except for MM. I'm using MM and have put it on 4 majors i.e. Eur, Gbp, Aud and E/G. It has not traded yet but as you say it has to catch a 'trend'. Fingers crossed.
But do tell me, are your TP and SL realistic? 400/100. SL still is understandable but TP targets?
What is your rate of successful trades? Can you post one week's results?
Vinesh

p.s. On an average how many trades/week/pair can be expected?
But even if we can get 1 good trade/week/pair it will be 1600 minus any unsuccessful trades, which...
Hi Vinesh,

I have traded live manually in the past. 400 pips for TP is realistic but does not happen often, takes a few days to reach.

I am still demo-ing this EA, not going live yet. I started tesing it last week 12 March, so it's not even a week yet. But, have cleared most of the bugs discovered along the way.

I am demo-ing on instatrader, averaging 4-5 trades a day. Today, I have 7 trades activated by the EA so far.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
  • #23
  • Mar 17, 2009 7:35am Mar 17, 2009 7:35am
Quoting Pluto2
Hello prosper4rex,

Thanks for posting your EA.
Looking forward to testing it.

Cheers
Hi Pluto2,

Thank you.

Do let me know your feedbacks about the EA's performance.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
  • #24
  • Mar 17, 2009 7:44am Mar 17, 2009 7:44am
Quoting iopoipoi
Hi all,

I am very interested in this service,
I tried to test it
but no trade has been made since yesterday.
is ti normal?

could you please share with us some statement about it?


thanks for everything
regards

ioopoipoi
Hi iopoipoi,

That's strange. I am on instatrader demo, managed to get on average 4-5 trades a day. I trade a wide range of currency as long as the spread is 10 pips and below.


Can you try trading a wider range of currency pairs? It increase the chances of entering a trade within a short time. Today, I have 7 currency pairs traded.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
  • #25
  • Mar 17, 2009 11:59am Mar 17, 2009 11:59am
Hi prosper4rex,

Can you tell us some more about what pairs you trade and what your settings are? Maybe you can upload your sets with inputparameters?

Thanks in advance
  • #26
  • Mar 17, 2009 12:02pm Mar 17, 2009 12:02pm
Thanks bernard

I will try it and let you know.

thansk for your efforts and support.

I hope it will work.

thanks

Iopoipoi



Quoting prosper4rex
Hi iopoipoi,

That's strange. I am on instatrader demo, managed to get on average 4-5 trades a day. I trade a wide range of currency as long as the spread is 10 pips and below.


Can you try trading a wider range of currency pairs? It increase the chances of entering a trade within a short time. Today, I have 7 currency pairs traded.

Bernard
  • #27
  • Mar 17, 2009 12:30pm Mar 17, 2009 12:30pm
I'm not a huge fan of black-box systems.

How exactly does this work? Moving averages? Stochastics? Price action? You don't need to tell me the settings. I just want to know what's being used.
  • #28
  • Mar 17, 2009 4:25pm Mar 17, 2009 4:25pm
Prosper,
48 hours since loaded EA but not a single trade yet. I'm using Forex.com MT4 platform. Enough balance in the a/c. Am I missing something in setting? Risk is set at 1% and MM is on. A/c balance is +$11800, floating loss -$1200 from other trades. Still enough balance to trade.
Any advice or comments welcome.

Vinesh
  • #29
  • Mar 17, 2009 6:52pm Mar 17, 2009 6:52pm
Quoting ssvl
Hi prosper4rex,

Can you tell us some more about what pairs you trade and what your settings are? Maybe you can upload your sets with inputparameters?

Thanks in advance
Hi ssvl,

I traded the following currency pairs,

eurusd, audusd, gbpusd, nzdusd, usdcad, nzdjpy, usdjpy, chfjpy, gbpjpy, eurjpy, audjpy, cadjpy, eurchf, usdchf, gbpchf,nzdchf, audchf, cadchf, eurgbp, euraud, nzdcad, audcad

My setting,

GMTOffset = 3;
TakeProfit = 400;
StopLoss = 100;
TrailingStopRequired = true;
TrailingStop = 50;
StopLossIncrement = 10;
EndWeekCloseAll = true;
Lots = 0.1;
UseMoneyManagement = false;
Risk = 10;
Slippage = 3;
SpreadLimit = 10;

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
  • #30
  • Mar 17, 2009 6:56pm Mar 17, 2009 6:56pm
Quoting Ronald Raygun
I'm not a huge fan of black-box systems.

How exactly does this work? Moving averages? Stochastics? Price action? You don't need to tell me the settings. I just want to know what's being used.
Hi Ronald,

This is largely an ADX driven system in combination with others.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
  • #31
  • Mar 17, 2009 7:08pm Mar 17, 2009 7:08pm
Quoting vinesh
Prosper,
48 hours since loaded EA but not a single trade yet. I'm using Forex.com MT4 platform. Enough balance in the a/c. Am I missing something in setting? Risk is set at 1% and MM is on. A/c balance is +$11800, floating loss -$1200 from other trades. Still enough balance to trade.
Any advice or comments welcome.

Vinesh
Hi Vinesh,

The past 48 hrs, I have the following pairs triggered by the EA -

audjpy, chfjpy, nzdjpy, usdjpy, usdchf, eurchf, audusd, gbpjpy, euraud, eurusd

I am on instatrader (demo).

I don't know why you have none triggered.

If too many people cannot get their trades triggered, I may have to loosen the EA's entry requirements a bit.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
  • #32
  • Mar 17, 2009 7:50pm Mar 17, 2009 7:50pm
Hello Prosper,

The EA is trading for me, but there is something I don't understand.
Can you please explain why the EA closed the trade at 1.3986
while the terminal is clearly stating TP at 1.3937.

Simmilar thing had happened on other 2 trades.

Out of the 1h,4h, daily; which do you preffer?

Will your EA work with 5 decimal brokers?
Do we have to add the additional 0?

Thanks for your reply/help

Cheers
  • #33
  • Edited 9:15pm Mar 17, 2009 8:25pm | Edited 9:15pm
Quoting Pluto2
Hello Prosper,

The EA is trading for me, but there is something I don't understand.
Can you please explain why the EA closed the trade at 1.3986
while the terminal is clearly stating TP at 1.3937.

Simmilar thing had happened on other 2 trades.

Out of the 1h,4h, daily; which do you preffer?

Will your EA work with 5 decimal brokers?
Do we have to add the additional 0?

Thanks for your reply/help

Cheers
Hi Pluto2,

For the default setting, the TP is 400. With TrailingStopRequired set to true, The EA keeps advancing the stoploss to around 40 pips away from the current trading price. In an ideal situation, the trend keeps advancing and will eventually hit the TP at 400. However, during the trending period, there are little dips and retracements here and there before it goes back to continue trending again. It is in the last dip, the current price hits the latest stoploss . This will close your trade before reaching the ideal 400 TP.


Although the EA is designed for 1HR and higher time frame usage, I have always used it on the 1HR time frame. So, I cannot comment on it's use on the 4HR and Daily timeframe.

Yes, the EA is programmed to work with 5 decimal brokers too.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
  • #34
  • Mar 17, 2009 9:13pm Mar 17, 2009 9:13pm
Hi Pluto2,

I forgot to answer your last question.

No, you do not have to add the additional 0.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
  • #35
  • Mar 17, 2009 9:22pm Mar 17, 2009 9:22pm
It seems it is only I for whom the EA refuses to work!
I tried it on H1 and H4 both.
Vinesh
  • #36
  • Mar 17, 2009 9:27pm Mar 17, 2009 9:27pm
Prosper I'll try out all the pairs you mentioned and see if it works for me. The surprising thing is that on my platform a pair rarely has more than 5 pip spread! That includes GBP/CHF and GBP/JPY.


Vinesh
  • #37
  • Mar 17, 2009 11:41pm Mar 17, 2009 11:41pm
Quoting vinesh
It seems it is only I for whom the EA refuses to work!
I tried it on H1 and H4 both.
Vinesh

Hi Vinesh,

On a closer look, try changing your risk to 10%. 1% of your available equity may not be sufficient to trade per 0.1 lot.

This is a likely reason for no trades initiated.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
  • #38
  • Mar 17, 2009 11:45pm Mar 17, 2009 11:45pm
Quoting vinesh
Prosper I'll try out all the pairs you mentioned and see if it works for me. The surprising thing is that on my platform a pair rarely has more than 5 pip spread! That includes GBP/CHF and GBP/JPY.


Vinesh
Hi Vinesh,

Your broker's spread is quite good. The lower the spread is to the advantage of the end trader.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
  • #39
  • Edited 12:51am Mar 18, 2009 12:43am | Edited 12:51am
Hi,

For those who are unfamilial with EA and how to download , install and use it, fill free to post your questions here. You can e-mail/PM me if you wish too.

I, or members here will assist you.

I have received e-mails asking for help in this area. So, feel free to ask.

Bernard
[email protected]
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
  • #40
  • Mar 18, 2009 12:54am Mar 18, 2009 12:54am
Hi Prosper,

Thankyou for the ea.

I have loaded it on my Demo account and it is running fine.

But when I load it on my LIVE account ... nothing.

Is there reason why it will not work on my live account.

Both accounts are with IBFX.

Many thanks.
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