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EOD trading system

I have try the EOD_EA-EL-CHOCO make a good result but i would like to ask for help to modify the ea to keep all the way trade in 0.01 lot .this ea keep trading till upsize to few standard lot.for me i just want to try at microlot so i need help all of you .Because of this ea at high risk, for me ......i just want to win a little bit to support my family..............................




sorry for my bad english
Thanks for keeping the thread going guys and all the hard work

This is the great thing about FF I think its a great community

I may not post much atm but always pvt me and I will answer again thanks for the hard work and determination every one here Im sure appreciates it its the way things move forward

Paulus
Quoting pipsrobber
I have try the EOD_EA-EL-CHOCO make a good result but i would like to ask for help to modify the ea to keep all the way trade in 0.01 lot .this ea keep trading till upsize to few standard lot.for me i just want to try at microlot so i need help all of you .Because of this ea at high risk, for me ......i just want to win a little bit to support my family..............................




sorry for my bad english
Hi pipsrobber. I am not running the EA, so I don't know the issue, but there probably is a variable called lots in the EA or he may have a money management formula in there that uses your account balance to determine lots. But because you say you just want to win a little bit to support your family, let me say that forex is a very very difficult thing to do. It surely seems like a currency moves up and down so much that we could easily get money out of it, but it just isn't the case. If you have a winning strategy then you must be consistent and just have an edge. This meaning you win more than you lose over a period of time. If you trade 1 lot for instant and start winning, then say "oh I'll go up to 10 lots so I can make a living at it", but you can't afford 10 lots, I can guarantee you, it will kill your account and you will be depressed. One of the best things you said was you want to trade .01 micro lot, because that is the easiest way to start and losing $1 or $2 isn't bad on your mind. I can tell you don't speak English well and I hope you can understand my post. I just felt sorry for you and wanted to give you some advice, but really I am no better than anybody else despite my long time trading history. Just remember this one thing, if you think it has never happened before, it will in forex. Be prepared for the worse case scenario on absolutely every trade you take. Trade the smallest positions and earn slowly and keep studying. You will avoid the years of frustration that I've had to endure.
Hi Llambert3, I'm not using any MM yet I'm just placing a one contract order at market. I have been placing almost all orders regardless of the R:R although the ratios often make me nervous. I like your ideas and am also thinking about ways to lesson the drawdown when a series of orders just don't go as hoped for. I trade all currencies offered by IFBX except USDCAD which your testing suggested did not have over a 50 percent win rate. Regards to all, Lynn
this is definitely your most successful system paulus
Thanks with proper MM it is an effective way to trade

An alternative way of entering which is mechanical will help with draw down,losses and will hopefully put pips in the bank a bit quicker

1main contract at 1pip = $10 eqauls 10 mini contracts at £1 per pip.

For a short position

(1)

When you get a signal enter 5 mini contracts as per normal..50% of your position is on.

If your TP is hit agreed you have made less money but YOU HAVE MADE SOME

(2)

Take the signal days high and if on the following day the market pull back to this point enter your last 5 contracts.This is a technically very good place to enter your position with your 2nd lot.You can use fibs but thats subjective on the placement THIS ISNT and all traders look at yest high low and close.

If the position goes against you your loss is smaller due to your 2 part entry as we use the same SL for both positions

If the position moves in your direction you scale out using the 5 day ATR as normal and get exits with the same pip count.

Its a more conservative way to enter will save you pips on any loss and gives a 'feel good' factor when scaling out with profits above all its mechanical with the 2nd 'lot' being filled at a technically good level

If you wish you could use 5 micro for 1st 5 micro for 2nd etc..

Visa versa for longs

Examples below of short signals
Attached Image (click to enlarge)
Click to Enlarge Name: EOD scale in.jpg Size: 28 KB
Thanks Paulus,

Let's use me as an example. I am trading penny account. I am risking $8, so whatever my stop is, I adjust my penny lots accordingly. Are you saying to forget that and trade say .10 dime and split it up like you have? Or still calculate loss and halve that?

Then you are entering half of your position right away and setting up the other half as pending at the signal day's high (if a sell), all with same tp and sl? Or the tp for the day's high is different because you are still using the ATR at that value and not the end of day value? I don't know what you mean by scale out at 5day ATR?
Quoting Paulus
Thanks with proper MM it is an effective way to trade

An alternative way of entering which is mechanical will help with draw down,losses and will hopefully put pips in the bank a bit quicker

1main contract at 1pip = $10 eqauls 10 mini contracts at £1 per pip.

For a short position

(1)

When you get a signal enter 5 mini contracts as per normal..50% of your position is on.

If your TP is hit agreed you have made less money but YOU HAVE MADE SOME

(2)

Take the signal days high and if on the following day the market pull back...
Hi My friend Paulus ... as always your post is valuable for me ..
i like the idea of opening second lot form the highest of previuse day .
Never sell @ lower upward channel unless breacked and vise versa .
Quoting llambert3
Hi pipsrobber. I am not running the EA, so I don't know the issue, but there probably is a variable called lots in the EA or he may have a money management formula in there that uses your account balance to determine lots. But because you say you just want to win a little bit to support your family, let me say that forex is a very very difficult thing to do. It surely seems like a currency moves up and down so much that we could easily get money out of it, but it just isn't the case. If you have a winning strategy then you must be consistent and...


Thanks for advice bros .I will remember and more hardworking in future.
Quoting pipsrobber
I have try the EOD_EA-EL-CHOCO make a good result but i would like to ask for help to modify the ea to keep all the way trade in 0.01 lot .this ea keep trading till upsize to few standard lot.for me i just want to try at microlot so i need help all of you .
Look in the EA Properties. Either use Auto_Lots = True and make the % risk lower, or make Auto_Lots = False and choose you own lot size.

Let me know if the EA is successful for you. I had 4 losses in a row up to tuesday last week and then couldn't get an internet connection due to travelling a lot. Hope this week will be more stable.
Current Trades
Buy UsdJpy (both)

New Trades
None

Yesterday total = -$22.99
Today's P/L = +$0.00
March Total = -$22.99
March Pip = -244

1:1 RR or better
Today's P/L = $0.00
March Total = $0.00
March Pip = 0

No new trades. The usdjpy hit my 1:1 or better as well.
Current Trades
Buy UsdJpy (both)

New Trades
Sell GbpUsd
Buy EurGbp

Yesterday total = -$22.99
Today's P/L = +$0.00
March Total = -$22.99
March Pip = -244

1:1 RR or better
Today's P/L = $0.00
March Total = $0.00
March Pip = 0

GbpUsd is already better than 1:1.... I've entered eurgbp and also set a pending to get 1:1... Of course if gbpusd goes up, eurgbp will go down, so this is like one of those "what the crap am I thinking" trades... but such is life.. lol
Current Trades
Buy UsdJpy (both)
Sell GbpUsd (hit stop - very unfortunate)
Buy EurGbp (hit tp)

New Trades
None

Yesterday total = -$22.99
Today's P/L = -$1.24
March Total = -$24.23
March Pip = -341

1:1 RR or better
Today's P/L = -$3.74
March Total = -$3.74
March Pip = -187

So GU went 5 pips below my tp and ibfx usually has a 4pip spread but I guess something came out and caused the spread to widen. How unfortunate that a $9 gain turned into an almost $8 loss just like that. Eurgbp went straight up which was good, but didn't hit the 1:1 trade.

Now here's something to think about.... Had I taken the opposite direction of every single trade for february with the tp at the stop and stop at the tp (therefore giving great r:r on all trades pretty much), I would be up 342 pips..

For March:
+585 pips
+$54.92 at the lots I was using, probably more if I risked $8 each time.

Just something to watch.
Current Trades
Buy UsdJpy (both hit stop)

New Trades
Buy UsdJpy
Buy GbpJpy

Yesterday total = -$24.23
Today's P/L = -$5.71
March Total = -$29.94
March Pip = -613

1:1 RR or better
Yesterday total = -$3.74
Today's P/L = -$3.84
March Total = -$7.58
March Pip = -369

Grand Total = -$37.52

Opposite Total= 613 pips and $39.38 (sorry in my previous post I had included a sum of one week which gave a higher $) ... I'll just keep up with doing the opposite as well just to see.
Hi,

I followed this thread with great interest. I was practicing with similar scalping system for 5min charts. So if I recap correctly:

enter long:
- cci(40)>0
- stochastic(5,3,2)<50 with basic line on top of signal line
- closed bullish candle (if not, wait for bullish to close within one day of other signals)
enter short:
- cci(40)<0
- stochastic(5,3,2)>50 with basic line below signal line
- closed bearish candle (if not, wait for bearish to close within one day of other signals)
money management:
- set stop loss to the most recent swing high/low
- set profit level to 1 X ATR(5) (possibility of opening two lots - not more than 5% of capital - closing 1 lot at TP and the other after bringing SL to first profit level with TS)

I know it can be boring answering to the same question all the time, but sometimes some explanation can be understood the wrong way and since I don't consider this a game, I will appreciate your indulgence very much.

Regarding money management, I am trying to keep it as simple as possible since I don't master anything in that particular field. There has been some good posts on it, but I am not at that level yet. I should digg more into it, but I suppose that if I rely on what I have just wrote, I should be ok for now.

Also, I don't know if there is a way to avoid tha situation shown on the picture. I am showing two signals. The second one is not a false signal because the candle is blue (so actually it is not a real signal), but the first one is. I have experienced three false signals in a row with a similar system for 5min charts. Do you play the rules to the end with stop loss, forget it and go on with next trade, or is there any filter that can be used to weed it out? CCI is climbing up steadily even below 0 level.

Finally, can we apply this system to 4 hr charts?

Thanks and regards.

Chamane
Attached Image (click to enlarge)
Click to Enlarge Name: example.gif Size: 52 KB
Sorry for replying to myself. I just want to make sure I am entering at the right moment, it is quite important. On the picture, I launched four trades from what I think are valid signals. Was it the right moment? I entered the market at 18:40 ET, wich is 22:40 GMT and 23:40 London time. I know Paulus uses 21:00 London time so I figure I am ok.

Is there anything wrong with my signals?

Many thanks again.

Chamane
Attached Image (click to enlarge)
Click to Enlarge Name: example2.gif Size: 123 KB
Current Trades
Buy UsdJpy (hit tp)
Buy GbpJpy (hit tp)

New Trades
Buy EurGbp
Sell GbpChf
Buy EurCad

Prior total = -$29.94
Today's P/L = +6.46
March Total = -$23.48
March Pip = -183

1:1 RR or better
Prior total = -$7.58
Today's P/L = $0.00
March Total = -$7.58
March Pip = -369

Grand Total = -$31.06

There were no new trades for Monday or Tuesday... Also, I was sick and did not take the usdjpy and gbpjpy trades live on sunday open.. too bad for me.. I have also failed to enter the eurcad trade before it has run up, so unless it comes back down some, I'll miss it as well.
Quoting chamane
Sorry for replying to myself. I just want to make sure I am entering at the right moment, it is quite important. On the picture, I launched four trades from what I think are valid signals. Was it the right moment? I entered the market at 18:40 ET, wich is 22:40 GMT and 23:40 London time. I know Paulus uses 21:00 London time so I figure I am ok.

Is there anything wrong with my signals?

Many thanks again.

Chamane
They appear to be valid to me... As far as timing just be consistent I suppose.
Quoting llambert3
They appear to be valid to me... As far as timing just be consistent I suppose.
Thanks. I wasn't sure about time of entry. Will check retracement on shorter timeframe next time.

Chamane
Quoting chamane
Hi,
enter long:
- cci(40)>0
- stochastic(5,3,2)<50 with basic line on top of signal line
- closed bullish candle (if not, wait for bullish to close within one day of other signals)
enter short:
- cci(40)<0
- stochastic(5,3,2)>50 with basic line below signal line
- closed bearish candle (if not, wait for bearish to close within one day of other signals)
The actual strategy was for a tick-up of the stoch when previously below 50. I dont know if the "basic line on top of signal line" will always give you the same trigger.

also

Quoting chamane
Hi,
I was practicing with similar scalping system for 5min charts.
I see you have the 1D charts open so whats the scalping bit???
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