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Attachments: Semi automatic EA (Driven Version)
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Semi automatic EA (Driven Version)

  • #1,461
  • Edited 5:55am May 19, 2009 5:26am | Edited 5:55am
Thanks
I'm sure that if I close the positions with the Take Profit I will get the 2nd position, it depends on how are the others doing.

I have to say that I used lots of 0,5; 1 and 3. The good is that there are no losses and I manage to understand the price direction, I'll publish the strategy in details with the rules so we can work on it.

I can say so far that a very important thing in forex is the "demand and supply" (i forgot this aspect and I had wrong ideas about forex, thinking forex was all about indicators), so you know when it's Oversold and Overbought with indicators like the Stochastic wich use this concept. You can trust Stochastic only on Daily Chart (maybe even H4) but that depends on the ammount of pips you want.

When you understand the price direction, watch for Support and Resistance on the Daily chart, draw a Trendline if it helps too. If you want you can use Stochastic for both Entry and Exit.

A powerful system has to be simple and point to the right trend direction, that's it. After that you need some Money Management for the system.

In the contest there are no EA allowed so I'm doing it manually, I'm doing some trades in Real account too.
"Hate the sin, love the sinner." - Gandhi
  • #1,462
  • May 19, 2009 7:25am May 19, 2009 7:25am
Felicitari !

some nice advices there.
how its the real account doing ? because there you will not risk as much as on a demo.


Quoting TheGabriel
Thanks
I'm sure that if I close the positions with the Take Profit I will get the 2nd position, it depends on how are the others doing.

I have to say that I used lots of 0,5; 1 and 3. The good is that there are no losses and I manage to understand the price direction, I'll publish the strategy in details with the rules so we can work on it.

I can say so far that a very important thing in forex...
  • #1,463
  • Edited 7:48am May 19, 2009 7:34am | Edited 7:48am
It's doing the same, I can't risk that much, but the pips are the same.

Went from 300$ to 500$ in 2 days (minimum lot, 0,1). There's no loss fear for me anymore, I evitate losses but cut them when needed.
I once had 3000$ (hard earned) and blew it, yes. Without proper money management you blow 300$ or 3000$, it's the same.

I think in terms of pips, 200 in demo and 200 pips in real could soon be much more $ in real too.
"Hate the sin, love the sinner." - Gandhi
  • #1,464
  • May 19, 2009 12:17pm May 19, 2009 12:17pm
Quoting TheGabriel
It's doing the same, I can't risk that much, but the pips are the same.

Went from 300$ to 500$ in 2 days (minimum lot, 0,1). There's no loss fear for me anymore, I evitate losses but cut them when needed.
I once had 3000$ (hard earned) and blew it, yes. Without proper money management you blow 300$ or 3000$, it's the same.

I think in terms of pips, 200 in demo and 200 pips in real could soon be much more $ in real too.
Yes, i have lost too, i went from 500 up to 1300 then lost all.

now im back with 200 and im more careful.
Now im trying to understand how to choose the trend.

I will trade with lots of 0.02 for a while and get some experience.
  • #1,465
  • May 19, 2009 4:50pm May 19, 2009 4:50pm
Sorry for the noob questions but PM doesn't seem to work.

Is the message "init" supposed to show when setting the latest version of FB?
  • #1,466
  • May 19, 2009 7:43pm May 19, 2009 7:43pm
Dear TheGabriel,

Do you mind to share with us your setting and how to read the price action? Can I use the EA on daily chart and draw the trend line directly on the daily chart? Currently I put the EA on 5M chart. One more question: if the trend is not so strong and the price is in a range, do you suggest to turn on the EA to "long and short" with lower TP or simply shut it down?
thank you very much
I hope you can win the contest.

Happy trading
  • #1,467
  • May 19, 2009 9:59pm May 19, 2009 9:59pm
Quoting footy
Dear TheGabriel,

Do you mind to share with us your setting and how to read the price action? Can I use the EA on daily chart and draw the trend line directly on the daily chart? Currently I put the EA on 5M chart. One more question: if the trend is not so strong and the price is in a range, do you suggest to turn on the EA to "long and short" with lower TP or simply shut it down?
thank you very much
I hope you can win the contest.

Happy trading
Yes you can select any timeframe you want. The EA will do his thing according to your trendline on whatever timeframe you trace it.

Bye

P.S. No time to anwer more questions.. Sorry.
  • #1,468
  • May 19, 2009 10:01pm May 19, 2009 10:01pm
Quoting pulainmata
Sorry for the noob questions but PM doesn't seem to work.

Is the message "init" supposed to show when setting the latest version of FB?

IF you have this message, it mean that there is no price action or your Metatrader is stuck. If price change, close your metratrader and restart it. Message init should not stay more than 15 sec when price is changing on your pair.

Bye
  • #1,469
  • May 19, 2009 10:25pm May 19, 2009 10:25pm
Quoting TheGabriel
Trading Manually with Heiken Ashi and Stochastic Divergence. Made 6200$ in 1day, and a PL of 5000$ of profit starting from 5000$.

http://fxservice.com/contest/balkandivision/
When you say that you are trading manually, do you mean that you are not using a version of the Firebird EA. Could you make clear what your current set up is.
  • #1,470
  • May 19, 2009 11:50pm May 19, 2009 11:50pm
Hi Action,

Do you know how call THV3 Trend by using iCustom function?

I am trying to figure out a way to automatically exit by using THV3 Trend. The idea is to automatically exit when the color turns yellow on daily chart. I know it can be done manually, but it would be nice to do it automatically in case we are busy and cannot access the computer.

Thank you very much!
  • #1,471
  • May 20, 2009 2:21am May 20, 2009 2:21am
Quoting TheGabriel
Thanks
I'm sure that if I close the positions with the Take Profit I will get the 2nd position, it depends on how are the others doing.

When you understand the price direction, watch for Support and Resistance on the Daily chart, draw a Trendline if it helps too. If you want you can use Stochastic for both Entry and Exit.
I guess we have the same style of trading, things like divergence, S/R, PA, De Mark are way more powerfull than most indis. (IMO). Courently Im studying a little about Tom De Mark's Sequential, and how powerfull can it be on daily charts. It can gives very early countertrend signals.

I was to late, to register on that contest, and I would be in Balkan devision also. Wish you much success in that...

Regards
Attached Image (click to enlarge)
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  • #1,472
  • Edited 4:21pm May 20, 2009 10:10am | Edited 4:21pm
Lost my contest position for now, because of an opened position that went against me (GBP/JPY, the GBP/USD though is reaching the highest in 4 months ), but it will close with profit so I'm confident.

Never heard about Tom De Mark's Sequential, I'll search and see how it can help on daily chart
"Hate the sin, love the sinner." - Gandhi
  • #1,473
  • Edited 10:43am May 20, 2009 10:11am | Edited 10:43am
Quoting footy
Dear TheGabriel,

Do you mind to share with us your setting and how to read the price action? Can I use the EA on daily chart and draw the trend line directly on the daily chart? Currently I put the EA on 5M chart. One more question: if the trend is not so strong and the price is in a range, do you suggest to turn on the EA to "long and short" with lower TP or simply shut it down?
thank you very much
I hope you can win the contest.

Happy trading
I don't use any EA, it's only manual trading, robots are not allowed for the contest and humans can do better too. I'll be back on robot after the contest ends.

I'm improving day after day the entry points so I can't share nothing right now. I only had 1 trade that went against me, it didn't touch the SL so I'm fine, It's going positive right now.

Right now: Only watching EUR/GBP (EUR/USD is rising too, I think the Euro/Pound will make a support soon and we can buy for 100 pips), GBP/JPY will close soon with profit and so GBP/USD (those two have to be checked for a breakout with many pips if it will come)

To get it clear, in the contest I'm risking more even for trades of 20 pips with big lot size, In real I filter small trades and trade only on Stochastic Divergence with 100 Pips TP and 60 pips trailing.

See this post to get the Stochastic Divergence indicator. The template is changed, I think I'll start a new thread for this system as the EA is no longer involved and we don't want to mess everything up.
"Hate the sin, love the sinner." - Gandhi
  • #1,474
  • May 21, 2009 4:57am May 21, 2009 4:57am
Margin call for me guys, so 0 $balance in real.

GBP/JPY trade went to 17+ pips for the last time and went against me again for 200 pips.

Then I opened 2 trades, BUY EUR/GBP and SELL GBP/JPY. I think they'll go into the direction i predicted, but, I've opened 2 trades with a small account at the same tame, so a retracement for both currencies blown my account definetely.

Learned (hope so) lessons today:

1) When you're too confident you blow out your account, when you're afraid it's even worse.
2) GBP/JPY and GBP/USD can move even 300 pips a day so you need a good sum of money to trade them.
3) If a trade goes against you for long time and it goes positevely get even a small profit but it's still a profit.
4) Set long term goals, I want to make this happen, I want to trade for a living, this is just another step to be taken so I'm accepting this loss as part of the game that played me today.


Now back to hard earn money ...
I wish you all succes guys and plenty of pips.
"Hate the sin, love the sinner." - Gandhi
  • #1,475
  • May 21, 2009 5:40am May 21, 2009 5:40am
capul sus !

shit happens, it will work out next time.


Quoting TheGabriel
Margin call for me guys, so...
  • #1,476
  • May 21, 2009 6:06am May 21, 2009 6:06am
Quoting TheGabriel
Margin call for me guys, so 0 $balance in real..........

Now back to hard earn money ...
I wish you all succes guys and plenty of pips.
Oh ouch.....and this morning i saw you were up +$6k........
Andy
  • #1,477
  • May 21, 2009 6:55am May 21, 2009 6:55am
Multumesc (thanks) Paromi,

The Margin call it's for the live account, I'm leaving everything right now, I'm quitting the contest too.

I'm gonna work on this strategy combined with the firebird EA to have better entry/exit points.

For now, I'm getting back to online projects (websites) wich can get me some money without any risk.
Forex is a great opportunity, too bad to not take advantage of it, but we have to be perfect because every moment in the markets is unique, it can blow or double your account .

Strange, this is the first time i blow the account and I'm "kinda happy"... lol

Keep it up folks!
"Hate the sin, love the sinner." - Gandhi
  • #1,478
  • May 21, 2009 11:11am May 21, 2009 11:11am
Quoting TheGabriel
The Margin call it's for the live account ...
Ouch! Are you using the EA on live account, or you follow the EA manually?

It looks like the EA needs some good money management strategy.
  • #1,479
  • May 21, 2009 2:10pm May 21, 2009 2:10pm
Trading manually, both live and demo.
"Hate the sin, love the sinner." - Gandhi
  • #1,480
  • May 21, 2009 4:32pm May 21, 2009 4:32pm
To add some on, the trade got at my entry point back after few pips i was out...
"Hate the sin, love the sinner." - Gandhi
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