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Forex Trend Catcher EA

  • #201
  • Mar 26, 2009 1:03pm Mar 26, 2009 1:03pm
Quoting prosper4rex
After a review through of the last two days performance results, a few things I will need to enhance.

1. SL to be tighter at 40pips instead of 50pips. Gets the open position quicker into safe territory with assurance of minimum 10 pips profit.
2. Entry level to be revised to avoid ranging markets.
3. No trading the first 2 hours during New York open, possibly London too. Major losses results from New York open, during news announcement.
4. Additional exit criteria - open positions have 1 hour to get SL going or else it will exit at the first opportunity...
Hi Bernard,

I've got the EA on the 6 major pairs that MT4 defaults to when you click on new chart. The results for the past 2 days have been disappointing. I have gone thru the trade history and the lossess have been greater than the wins, both in numbers and in pips. I have actually moved the SL to 40 in hopes of it locking in some profits earlier (item 1). I think your propose changes should help in making this EA reach profitability. Thanks for your hard work and sharing.
  • #202
  • Mar 26, 2009 2:36pm Mar 26, 2009 2:36pm
quote:
After a review through of the last two days performance results, a few things I will need to enhance.

1. SL to be tighter at 40pips instead of 50pips. Gets the open position quicker into safe territory with assurance of minimum 10 pips profit.
2. Entry level to be revised to avoid ranging markets.
3. No trading the first 2 hours during New York open, possibly London too. Major losses results from New York open, during news announcement.
4. Additional exit criteria - open positions have 1 hour to get SL going or else it will exit at the first opportunity with minimum profit.

Bernard,
Great idea, those changes should make big difference in profitability of rangeing days.
Thank you for your generosity, I'm looking forward to the update!

Sincerley,

Andy. (Sir Viver)
“The waiting is the hardest part” Tom Petty
  • #203
  • Mar 26, 2009 5:16pm Mar 26, 2009 5:16pm
Hi Bernard,

I am testing ver b and the EA just close all trades. It seems the Fri close of all open trades occurred a day early and 2 hrs late. I.ve attached the trade history printout.
Attached Image (click to enlarge)
Click to Enlarge Name: close 1 day too early.gif Size: 55 KB
  • #204
  • Mar 26, 2009 8:27pm Mar 26, 2009 8:27pm
Quoting vinesh
Prosper,
The changes you suggest are very good but can you keep the option open for us to decide if we want to trade 2 hrs of NY open as well as London too?

Vinesh
Vinesh,

Yes, the options will be available.

I have also decided that the initial SL (once only) will be triggered when profits reached 30+ instead of +40. That way, it gets the trade to be in profit faster with profit locked in even quicker. Subsequent, SL will be remain at 40+.

I have finished writing the codes, now going through for potential bugs. Will test it before uploading.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
  • #205
  • Mar 26, 2009 8:31pm Mar 26, 2009 8:31pm
Quoting fxtrader2k7
Hi Bernard,

I've got the EA on the 6 major pairs that MT4 defaults to when you click on new chart. The results for the past 2 days have been disappointing. I have gone thru the trade history and the lossess have been greater than the wins, both in numbers and in pips. I have actually moved the SL to 40 in hopes of it locking in some profits earlier (item 1). I think your propose changes should help in making this EA reach profitability. Thanks for your hard work and sharing.
Fxtrader,

Thank you for trying the EA out. Must admit, its not perfect though, needs ongoing improvements. Thanks for the feedback.

That's what it is, the bottom line is we make profits using the EA together.

You are most welcome.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
  • #206
  • Mar 26, 2009 8:34pm Mar 26, 2009 8:34pm
Quoting SirViver
quote:
After a review through of the last two days performance results, a few things I will need to enhance.

1. SL to be tighter at 40pips instead of 50pips. Gets the open position quicker into safe territory with assurance of minimum 10 pips profit.
2. Entry level to be revised to avoid ranging markets.
3. No trading the first 2 hours during New York open, possibly London too. Major losses results from New York open, during news announcement.
4. Additional exit criteria - open positions have 1 hour to get SL going or else it will exit at the...

Andy,

You are welcome. Will upload once I tested it. Codes are re-written.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
  • #207
  • Mar 26, 2009 8:35pm Mar 26, 2009 8:35pm
Quoting fxtrader2k7
Hi Bernard,

I am testing ver b and the EA just close all trades. It seems the Fri close of all open trades occurred a day early and 2 hrs late. I.ve attached the trade history printout.
fxtarder,

Yes, I am aware of that bug. Thanks for the upload.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
  • #208
  • Mar 27, 2009 7:42am Mar 27, 2009 7:42am
I am not sure, but I think there is something wrong with the code. I suspect the SL sometimes is not moved even when it should. Just look at the attachment. Shouldn't be moved now to lock the profit? The price has got plenty of space, so I do not think the fault is on broker's side. What is your opinion, Prosper?
Attached Image (click to enlarge)
Click to Enlarge Name: sl.gif Size: 6 KB
  • #209
  • Mar 27, 2009 7:43am Mar 27, 2009 7:43am
It does not happen every time. I can see sometimes SL is moved, but sometimes not :/
  • #210
  • Mar 27, 2009 9:44am Mar 27, 2009 9:44am
Hi Bernard,

Latest results for Trend Chaser.

Not as good as last week but there you go. I still want to try out the latest version though when you have it ready.

Cheers!

Benn
Attached File(s)
File Type: pdf Trend Chaser 27 March.pdf   62 KB | 424 downloads
  • #211
  • Edited Mar 28, 2009 10:32am Mar 27, 2009 6:48pm | Edited Mar 28, 2009 10:32am
Hello People,

The new version of Forex Trend Catcher Ver. 1c, has been uploaded and can be found at start of thread , post #1.

A review of past week performance results, shows that the previous version performs reasonably well in a trending market but faces challanges when market is ranging.

A few things have been added to address this problem and enhance it's performance.

1. An initial SL (30) has been included to ensure that a trending position enters SL safety faster than before. Subsequent SL (40) applies.

2. Order entry has been revised to improve filtering of trending signals.

3. TradeNewYorkOpen and TradeLondonOpen are introduced to trade/not trade these markets when they open. Trading during market open, especially when New York opens, carries higher risk of losing trades than during normal hours with major news announcements.

4. Additional exit criteria introduced to manage orders created. Each order is given 15 mins to trigger SL, and locked in profits. If, it cannot, EA will attempt to close the position with minimal profit at first opportunity.

Happy trading.




Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
  • #212
  • Mar 27, 2009 7:17pm Mar 27, 2009 7:17pm
Quoting Undercover
It does not happen every time. I can see sometimes SL is moved, but sometimes not :/
Undercover,

I have gone through my codes a few times. Personally, I am puzzled why this happened. I have tested it on a regular basis, but never encounter what you did. The SL works everytime.

Can you upload the journal entry where all transactions are recorded? All abnormalities are recorded, and I can understand better when I review through the journal log.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
  • #213
  • Mar 27, 2009 7:19pm Mar 27, 2009 7:19pm
Quoting Mr Benn
Hi Bernard,

Latest results for Trend Chaser.

Not as good as last week but there you go. I still want to try out the latest version though when you have it ready.

Cheers!

Benn
Benn,

Thanks for the results again.

The latest version Forex Trend Catcher Ver 1c, has been uploaded.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
  • #214
  • Mar 27, 2009 9:36pm Mar 27, 2009 9:36pm
Thanks for the new version Bernard, I look forward to testing it next week.

Don't forget guys, GMT time will be moving forward by 1 hour as from Sunday 29th March because of the official start to British Summertime.

Double check your GMT offset settings are correct!

Good luck & cheers,

Benn.
  • #215
  • Mar 27, 2009 9:57pm Mar 27, 2009 9:57pm
Maybe I never got it right, but I have always been told GMT (UTC) never changes.
  • #216
  • Mar 28, 2009 12:17am Mar 28, 2009 12:17am
Quoting Freddyfx
Maybe I never got it right, but I have always been told GMT (UTC) never changes.
You are correct Freddy. All time zones are determined relative to GMT or UTC and GMT/UTC never changes. I am in the Pacific Time Zone and that is always GMT -8. Since the use of daylight savings time is not universally implemented and where it is implemented, thanks to " de W", not at the same time it adds to the confusion. Mexico is normally 2 hrs ahead (with a few exception such as the Baja Penisula, think Cabo San Lucas, where it is 1 hr ahead) of me in Pacific time-zone. Since the beginning of March, it's only 1 hr ahead or the same. Where daylight savings is observed this week-end in Mexico it will be back to 2 hrs or 1 hr ahead. Likewise with London, it's normally 8 hours ahead of me, but has been 7 hours ahead since the beginning of March and will now go back to 8 when British Daylight goes into effect.
  • #217
  • Mar 28, 2009 5:59pm Mar 28, 2009 5:59pm
Prosper4rex,
Will I need a new activation key # to trade this new version live, or can I still use the same key # as the last version?
Again, I really appreciate your hard work and willingness to share, and am looking forward to live testing the EA improvements.

Sincerley,

SirViver.
“The waiting is the hardest part” Tom Petty
  • #218
  • Mar 28, 2009 7:21pm Mar 28, 2009 7:21pm
Quoting SirViver
Prosper4rex,
Will I need a new activation key # to trade this new version live, or can I still use the same key # as the last version?
Again, I really appreciate your hard work and willingness to share, and am looking forward to live testing the EA improvements.

Sincerley,

SirViver.
SirViver,

You can you use the same key # as the last version.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
  • #219
  • Mar 28, 2009 10:10pm Mar 28, 2009 10:10pm
Quoting prosper4rex
Hello People,

The new version of Forex Trend Catcher Ver. 1c, has been uploaded and can be found at start of thread , post #1.

A review of past week performance results, shows that the previous version performs reasonably well in a trending market but faces challanges when market is ranging.

A few things have been added to address this problem and enhance it's performance.

1. An initial SL (30) has been included to ensure that a trending position enters SL safety faster than before. Subsequent SL (40) applies.

2. Order entry has been revised...
Like I said before I have tried many EA's and at first they make money then they lose... To try and get an EA to be able to make money in a trending market as well as a ranging market is not easy Bernard but I will give this one a try this week to see what happens... thanks for sharing...

soeasy69
  • #220
  • Mar 29, 2009 8:03am Mar 29, 2009 8:03am
Quoting soeasy69
Like I said before I have tried many EA's and at first they make money then they lose... To try and get an EA to be able to make money in a trending market as well as a ranging market is not easy Bernard but I will give this one a try this week to see what happens... thanks for sharing...

soeasy69
soeasy69,

You are most welcome.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
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