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Burger Straddle Script

  • #321
  • Apr 10, 2007 5:00am Apr 10, 2007 5:00am
I also have problem with Burger Calendar and BK tried to help some posts back but it was not solved. The time shown on the Burger calendar is 15 hours ahead of my local time.
For example, if you look on FF calendar you will see the news:
JPY Machine Tool Orders y/y due today 10 April 2007 whatever time where you are in the world but it came out exactly 4 hours ago my local time
The Burger calendar shows on my metatrader that it's due 11 April 2007 at 07.00 am. which is tomorrow.
It just does not work for me.
  • #322
  • Apr 10, 2007 8:41am Apr 10, 2007 8:41am
Quoting PipStar
I also have problem with Burger Calendar and BK tried to help some posts back but it was not solved. The time shown on the Burger calendar is 15 hours ahead of my local time.
For example, if you look on FF calendar you will see the news:
JPY Machine Tool Orders y/y due today 10 April 2007 whatever time where you are in the world but it came out exactly 4 hours ago my local time
The Burger calendar shows on my metatrader that it's due 11 April 2007 at 07.00 am. which is tomorrow.
It just does not work for me.
You havent replied back to my question back then:
what is exactly your timezone?

Sydney and Vladivostok have the same timezone but not the same daylight savings settings.

Likewise, have you updated your Windows? ie, the timezone/daylightsavings patch?

The time as shown on the Burger Calendar is suppose to be in Local Time. Without complete feedback and complete details on the problem, i could only fix what I can see (on my computer) or what I can simulate (on my computer)...
  • #323
  • Apr 10, 2007 2:14pm Apr 10, 2007 2:14pm
One thing I have noticed when I set the script up...
When it has less than 1 hour until the news comes out, I have had to enter the time for the news as GMT. If I use local...it shows the trade 1 day out. Any other time greater than 1 hour out seem to work by inserting local time...FYI to all. Anyone else seeing this also?
  • #324
  • Apr 10, 2007 3:38pm Apr 10, 2007 3:38pm
Quoting jimbo61
One thing I have noticed when I set the script up...
When it has less than 1 hour until the news comes out, I have had to enter the time for the news as GMT. If I use local...it shows the trade 1 day out. Any other time greater than 1 hour out seem to work by inserting local time...FYI to all. Anyone else seeing this also?
Can you provide:
1. Your exact timezone, including the city you are located. As I told PipStar, Sydney and Vladivostok have the same TimeZone but not the same Daylightsavingstime (one is southern hemishphere, the other is northern). It makes a lot of difference about 2 hours difference.

2. What was the NewsTime you specified? Try it now and what is the exact display on the screen? screenshot please!
  • #325
  • Apr 10, 2007 3:59pm Apr 10, 2007 3:59pm
Quoting BurgerKing
Can you provide:
1. Your exact timezone, including the city you are located. As I told PipStar, Sydney and Vladivostok have the same TimeZone but not the same Daylightsavingstime (one is southern hemishphere, the other is northern). It makes a lot of difference about 2 hours difference.

2. What was the NewsTime you specified? Try it now and what is the exact display on the screen? screenshot please!
Time zone is US Central w/ Daylight savings time. (-5).
I was trying to enter a script last night around 11:15 pm.
I set the NewsTime to 11:30:00.
When the script loaded it showed on the screen, "time until order" was 01:00:14:00. "Time until Modify" 01:00:14:30...and so on. It should have been 15 min, not 1 day+15 min.
I then entered it as GMT (04:30:00GMT) and it took properly.
Later on I re entered the script on another timeframe, that was more than 1 hour out, as actual local time, and it took properly. It seem to only happen within the last hour before the news. Sorry ..no screen shots..and I seemed to find the work around to make it workout. I prefer the setup to GMT as the trade time anyway...
  • #326
  • Apr 10, 2007 10:33pm Apr 10, 2007 10:33pm
Hey everyone, this is not only my first post in this threat, but my first post at Forex Factory. yay! BK, I'm going to assume that you don't mind the constant praise, so I'd like to take a moment to thank you for a great EA and system. I've been using it on a demo account with good success. I'll be switching to a live account with it shortly.

I had a question about the EA though. I noticed there are two different lot sets, BuyLot1/SellLot1 and BuyLot2/SellLot2. I'm not sure I understand what the second set is for. All of the testing I've done so far has only been using the first lot set. What are the pros/cons to using it?

Once again, just wanted to say thanks for a great EA. I'm looking forward to making use of it.
I came, I saw, I conquered [your pips]. -- Julius Caesar
  • #327
  • Apr 11, 2007 12:28am Apr 11, 2007 12:28am
you have 2 lot sets so you can parameter one with very conservative TP to be sure to lock some pips in your pocket and the other one with riskier tp for example...but you are not oblige, it works very well with one lot. Be aware that if you are placing too many orders at the same time you can have a message from your broker "trade context busy". So it's may be better to keep it simple.



Quoting Quick
Hey everyone, this is not only my first post in this threat, but my first post at Forex Factory. yay! BK, I'm going to assume that you don't mind the constant praise, so I'd like to take a moment to thank you for a great EA and system. I've been using it on a demo account with good success. I'll be switching to a live account with it shortly.

I had a question about the EA though. I noticed there are two different lot sets, BuyLot1/SellLot1 and BuyLot2/SellLot2. I'm not sure I understand what the second set is for. All of the testing I've done so far has only been using the first lot set. What are the pros/cons to using it?

Once again, just wanted to say thanks for a great EA. I'm looking forward to making use of it.
  • #328
  • Apr 11, 2007 1:09pm Apr 11, 2007 1:09pm
Hi.

I have a problem. When I try to activate the script it says "your license only allows $5 per pip trades".

But I set the lots to 1pip= 1,7$.

What am I doing wrong here?
  • #329
  • Apr 11, 2007 8:14pm Apr 11, 2007 8:14pm
Hi MKK

Refer to BK's post 283....

Quoting MKK
Hi.

I have a problem. When I try to activate the script it says "your license only allows $5 per pip trades".

But I set the lots to 1pip= 1,7$.

What am I doing wrong here?
  • #330
  • Apr 11, 2007 8:25pm Apr 11, 2007 8:25pm
Quoting BurgerKing
Novice traders are adviced to trade small lots. The freeware 0.5 lots should be enough for you. I sure dont like to see you loose $2000 simply because you are too green to trade news or just plain greedy to trade all news.

But if you are a big time trader, trades 100 standard lots, you should afford to hire a progammer write a straddler for you
thanks for the script BK. would it be possible to buy a license from you to trade max 5 lots?
  • #331
  • Edited 1:59am Apr 12, 2007 1:38am | Edited 1:59am
I trade for living. The sums which I trade with may not be soo big but they are enough to make a small living. I've traded for 2 years now and I don't consider myself as a novice.

It would be perfect if the lot limit would be atleast 1 lot (or 2).

Please don't take this suggestion as a complaint beacause I really am greatful to BK for this amazing script.
  • #332
  • Apr 12, 2007 4:23am Apr 12, 2007 4:23am
Well it bit me this morning...
I setup the script on the GBP trade balance release this morning with a 10/10/10 wide straddle. Using a 20 pip SL, it triggered a short trade, then immediatly hit my stop loss (-$75)while the spread was still widened.
Anyone make any money on this today? What were your settings?
  • #333
  • Apr 12, 2007 5:10am Apr 12, 2007 5:10am
Quoting jimbo61
Well it bit me this morning...
I setup the script on the GBP trade balance release this morning with a 10/10/10 wide straddle. Using a 20 pip SL, it triggered a short trade, then immediatly hit my stop loss (-$75)while the spread was still widened.
Anyone make any money on this today? What were your settings?
Its almost an impossible trade to win especially if you have Trailing Stop active - if not for the trailing stop, I could have exited with a profit.. unfortunately, I got stopped out, all thanks to TS..

you win some, you loose, some.. But hopefully, you win big time when it moves hard
  • #334
  • Apr 12, 2007 5:36am Apr 12, 2007 5:36am
Same here -$75(-15 pips)on the gbp trade whipsaw galore you win some you loose some.My settings were 8/8/8. Oh well better luck next time.
MIR
  • #335
  • Apr 12, 2007 5:46am Apr 12, 2007 5:46am
i used the script 5 lots (license version)...

put my SL 20 pips and my TP 20 pips...it was a whipsaw but it didnt hit my SL... i leave the post open until the price move down to break even...i tried to close and my broker requote me on a 3 pips profit..... so 150usd for me...

thanks bk

well to others, BK do mention that to those who wanted to trade big lottage size need to apply yhe license thingy in order to get the script that allow u to do so
  • #336
  • Apr 12, 2007 6:32am Apr 12, 2007 6:32am
Anybody tried this script in live UGMFX account? Slippage, disconnections, problems?
  • #337
  • Apr 12, 2007 6:44am Apr 12, 2007 6:44am
Quoting metcalfe
Anybody tried this script in live UGMFX account? Slippage, disconnections, problems?
UGM slips on large lots. And if you trade small lots (on small account) they will warn you (or disable EA altogether like MIGFX) once you made good money.
  • #338
  • Apr 12, 2007 6:52am Apr 12, 2007 6:52am
I still believe that Trailing Stops and fairly tight Stop Losses are a good idea when it comes to news-trading, be it autoclicking or straddling. In my experience, the clear winning trades are those in which price moves swiftly and straight in one direction for 20 or 30 pips before showing any signal of exhaustion. We usually we those trades when there is a juicy deviation from the expected news outcome. Well, those are the thrusts a news trader wants to ride. If, alternatively, price whipsaws and butts arounds and the initial spike doesnt carry a clean punch I reckon it's best to minimize risk, exit with an affordable 10 pip loss and move on to the next trade.

I will personally leave my stop loss at 10 and my trailing stop at 10 until breakeven.
  • #339
  • Apr 12, 2007 6:55am Apr 12, 2007 6:55am
Quoting BurgerKing
UGM slips on large lots. And if you trade small lots (on small account) they will warn you (or disable EA altogether like MIGFX) once you made good money.
How much is large lots BK?
  • #340
  • Apr 12, 2007 6:56am Apr 12, 2007 6:56am
Quoting BurgerKing
Its almost an impossible trade to win especially if you have Trailing Stop active - if not for the trailing stop, I could have exited with a profit.. unfortunately, I got stopped out, all thanks to TS..

you win some, you loose, some.. But hopefully, you win big time when it moves hard
I think it was the large spread that was still in effect and the 20 pip s/l I had set. I do not think it was the Trailing Stop that took it out. I went back and looked at the tic chart of the trade. The spread looked like it widened to 6-8 pips when the news came out then closed back to 4 in the next 30 sec or so. The chart shows the 08:45 gmt candles high was 1.9754 but it took out my SL set at 1.9767.
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