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Nanningbob 60x90 EA

  • #2,221
  • Jul 11, 2009 9:18am Jul 11, 2009 9:18am
@ IamTHAT

We can't open Buy and SellStop orders on the same pair anymore, not on IBFx? How does your EA address this problem?

TimeFreedom
  • #2,222
  • Jul 11, 2009 10:46am Jul 11, 2009 10:46am
I promised I would get back on the Haiken Ashi indicator. I will also use this to do a little teaching. Basically all indicators are based on Moving Averages (MA) and some mathematical formula. You then take this information and make it into an easy to see indicator. For Example MACD is two MA on a graph and the distance between the two lines are shown as bars. When the two lines cross the bars will be either go above or below the 0 line. A simple but easy to see indicator. The same thing also is the Stochastic indicator, but it uses a different mathematical formula and the lines are illustrated differently. The MACD weakness is it is too slow to react to price changes and is a horrible indicator in ranging markets. The Stochastic is a fast indicator and works great in ranging markets but you get into big trouble with it in trending markets. I used these two in combination in my 4H trading system and I get a better read than trying to use them separately. The major difference between all indicators is the math used in them and how they try to visualize this information.

The HA indicator tries to visualize what price is doing by candle colors instead of an off chart indicator. It is right there on the chart. The first chart I will show is a regular candle chart and the second is using candles like an indicator, the HA indicator.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbp usd candles.gif Size: 21 KB
Click to Enlarge Name: gbp usd ha.gif Size: 21 KB
  • #2,223
  • Jul 11, 2009 10:58am Jul 11, 2009 10:58am
Now the HA indicator candles are not all that different from a candle chart but some of the candles will not chage color in the HA where they will on a candle chart. The HA math is more complex but if I over lay a 3 MA open over a 3 MA close you will see that the crosses are basically in the same spot at the candle colors change in the HA candles. So an HA is very similar to a 3x3 MA cross. I use the 3x3 MA cross in my 4H system to enter trades, It is basically the same as the HA with one major exception. The 3x3 MA will enter a trade anytime during a candle when the cross happens. The HA will not enter until the candle is complete because it cant register the color of the candle until the candle is complete. So my conclusions is a 3x3 MA cross is a superior indicator for an EA than the HA because it will get into the trade sooner using basically the same information. So if you use the HA with the 4H system it may make the screen look better but you will get a better entrance with a 3x3 cross. See the chart below and compare the green and yellow crossing lines (3x3 cross) with the changing colors of the HA indicator (red and white candles) I believe you will agree they are almost the same. I know the math is different but I dont consider it significant enough to make any changes and I consider the MA crosses to be superior to the HA signal. This would work with my 4H trading system but I do not think is would work with this system. I have tried MA crosses with this range trading and there were too many missed trades and too many peaking trades to warrant any changes.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd ha 3x3.gif Size: 26 KB
  • #2,224
  • Jul 11, 2009 11:10am Jul 11, 2009 11:10am
When you use indicators there are only 3 major kinds but hundreds or thousands of variations.

1. MA crosses using a math formula to create a chart of some kind as an oscilator, indicator, etc.
2. Various Trendlines, which includes DeMark, channels, zig zags, pitchforks, etc. and
3. S/R, pivot points, etc.

There are all kinds of variations of these three basic indicators. This range system uses MA lines with the philosophy that price will only vary an X amount of pips from a standard. This will hold true almost all the time with the exception of two things. Super news stories or long draw out trends because one currency is exercising a very strong fundamental over another currency so it doesnt retrace. Other than that it profitable happy trading time. So I stay with the basics. Simple MAs, S/R and trendlines.
  • #2,225
  • Jul 11, 2009 11:54am Jul 11, 2009 11:54am
Quoting nanningbob
I promised I would get back on the Haiken Ashi indicator. I will also use this to do a little teaching. ....
Thanks for this very interesting lesson ... greatly appreciated
  • #2,226
  • Jul 11, 2009 1:01pm Jul 11, 2009 1:01pm
Quoting nanningbob
I promised I would get back on the Haiken Ashi indicator. I will also use this to do a little teaching. Basically all indicators are based on Moving Averages (MA) and some mathematical formula...
Very many thanks Bob for all your generosity.Teaching indeed runs effortlessly in your blood.
In regard to your 4H manual trading method,would it be out-of-place to trade dimes with a $1500 balance? My broker do not trade pennies.
Thanks for any response.


Charles.
  • #2,227
  • Jul 11, 2009 2:33pm Jul 11, 2009 2:33pm
Quoting Charlyeze
Very many thanks Bob for all your generosity.Teaching indeed runs effortlessly in your blood.
In regard to your 4H manual trading method,would it be out-of-place to trade dimes with a $1500 balance? My broker do not trade pennies.
Thanks for any response.


Charles.
Yes that should be plenty even if it is 100:1. You will get a feel of how many you can trade over time. When you get into a 242 method trade and see how much margin you use then you will get a comfortable level of what to trade.
  • #2,228
  • Jul 11, 2009 5:15pm Jul 11, 2009 5:15pm
Quoting nanningbob
Yes that should be plenty even if it is 100:1. You will get a feel of how many you can trade over time. When you get into a 242 method trade and see how much margin you use then you will get a comfortable level of what to trade.
Alpari offers up to 500:1,so that should do.Thanks.Will report progress to the thread.

Charles
  • #2,229
  • Jul 12, 2009 1:08am Jul 12, 2009 1:08am
Quoting TimeFreedom
@ IamTHAT

We can't open Buy and SellStop orders on the same pair anymore, not on IBFx? How does your EA address this problem?

TimeFreedom

Normally either only Buy or only Sell side orders are open at any given time. there is a possibility because if lower TF is used. This can be addressed by using a higher TF. Anyway, I am trading live at present with another broker where this is not an issue.
"Put all your efforts in becoming effortless"
  • #2,230
  • Jul 12, 2009 1:29am Jul 12, 2009 1:29am
Quoting 137
thanks for posting!

sorry i don't think i quite understand though.

how does the EA skip orders? you say 'step' is 30. does that mean there is 30 pips between orders? if that's what you mean then that would create a range for 8 steps of 240? sorry, i'm just trying to clarify. you're results are very impressive btw!
There is a gap of 30 pips between orders, but the orders placed are Stop orders and not market orders. So this order will be executed only if price retraces by 15-20 pips (adjustable).
Suppose price is at 1.3900 and if the steps are 30 pips , normally buy order is placed when price reaches 1.3870. In this EA , a Stop Buy order is placed at 1.3870 when the price reaches 1.3855 or 1.3850. If the price continues to drift down by another 30 pips second order is placed. So first order execution is missed altogether. If there is a retrace of 20 pips before price moves further then orders are not skipped and no specific advantage. Normally I have seen couple of missed orders in 5-6 steps in volatile pairs.
This increases overall profitability. Normally I would prefer to to keep TF and Pips as close as possible (preferably same with a multiplication of of 2.0) so that when the last order is about to close, no further orders are opened.
Biggest advantage I think is we have control of orders and in case of we are not comfortable with market condition, we can always delete unopened orders .
I hope you get my point. I would have liked many more changes with this EA but I am not at all good at programming.
"Put all your efforts in becoming effortless"
  • #2,231
  • Edited 2:03am Jul 12, 2009 1:31am | Edited 2:03am
Quoting nanningbob
Good input and info. Thanks.
Thanks to you Bob that I have something to work with. I am getting more confident by the day because of your efforts all along.

Well, it is indeed risky in trending market but retrace of around 35 is always gettable pips in volatile pair GBPJPY according to me. I can always close unopened orders ans escape with minor damage. But what if I succeed for a couple of month like this demo? I am completely on house money and this virtually becomes my ATM. We can always switch to 100x180 at a later stage.
I cant think of starting with $10k and this is my only hope of making any headway! With all the improvements coming from you, my hands are full.
"Put all your efforts in becoming effortless"
  • #2,232
  • Jul 12, 2009 3:26am Jul 12, 2009 3:26am
Quoting IamTHAT
There is a gap of 30 pips between orders, but the orders placed are Stop orders and not market orders. So this order will be executed only if price retraces by 15-20 pips (adjustable).
Suppose price is at 1.3900 and if the steps are 30 pips , normally buy order is placed when price reaches 1.3870. In this EA , a Stop Buy order is placed at 1.3870 when the price reaches 1.3855 or 1.3850. If the price continues to drift down by another...
thank you so much. you have done wonderful work
change the future, not the past
  • #2,233
  • Jul 12, 2009 4:33am Jul 12, 2009 4:33am
Quoting IamTHAT
Thanks to you Bob that I have something to work with. I am getting more confident by the day...
Also thanks for yours and everyone elses contributions. I get my ideas from reading other people's comments and criticisms. Plus others have added ideas to the system. What is nice now is the basic system works we are now in the refinement stage to hopefully a final product. I hope to study your idea of switching from market orders and see how well that works. Thanks for the idea and programming that goes with it. I get to travel this weekend but hope to settle into our new location Monday.
  • #2,234
  • Jul 12, 2009 4:53am Jul 12, 2009 4:53am
On the calendar front I see nothing that should make the markets go crazy as far as scheduled news. So happy trading.
  • #2,235
  • Jul 12, 2009 7:33am Jul 12, 2009 7:33am
Many thanks IamTHAT for the ea, that is great thinking with the stop orders.

I had a bit of trouble with the ea, is the StopGap covered by the five digit adjustment in the code?
  • #2,236
  • Jul 12, 2009 6:09pm Jul 12, 2009 6:09pm
Hi IamTHAT

just wondering how you handled June 15 on eurjpy. seems like it would have triggered a couple trades. this day going into the next was particularly deadly, going straight down. this seems to happen from time to time on the more volatile pairs. thanks
Attached Image (click to enlarge)
Click to Enlarge Name: trade example.gif Size: 23 KB
change the future, not the past
  • #2,237
  • Edited 10:16pm Jul 12, 2009 10:03pm | Edited 10:16pm
Quoting 137
Hi IamTHAT

just wondering how you handled June 15 on eurjpy. seems like it would have triggered a couple trades. this day going into the next was particularly deadly, going straight down. this seems to happen from time to time on the more volatile pairs. thanks
I don't remember having any problem with EURJPY. I looked up my statement and no indication of trouble.
Here is my statement at http://iamthat.mt4stats.com/

This consolidation of demo accounts is giving limited data.
Better go with single JPY pair is my idea. Moreover, I tested this EA from around 3GMT to 14GMT to suit my timings (India) and I never ran it for 24/5. Possibility is there that it could have given different results under such condition. However, I ignored all news items.
There is scope for lot of tinkering around.
"Put all your efforts in becoming effortless"
  • #2,238
  • Edited Jul 13, 2009 2:37am Jul 12, 2009 10:05pm | Edited Jul 13, 2009 2:37am
Quoting waltini1
Many thanks IamTHAT for the ea, that is great thinking with the stop orders.

I had a bit of trouble with the ea, is the StopGap covered by the five digit adjustment in the code?
I never used 5 digit so far. there is a provision for it in the original EA. I think I need to add something to my EA. I will find out..I have changed it for 5 digits. See if it works.
Attached File(s)
File Type: mq4 NanningBobV2.0BuySellSTOP-Master.mq4   22 KB | 401 downloads
"Put all your efforts in becoming effortless"
  • #2,239
  • Jul 12, 2009 10:19pm Jul 12, 2009 10:19pm
Your Revised EA... do no have a newer version yet?

Does this also trade on the 4hr charts?
Does it work with 5 digit brokers?

Quoting IamTHAT
Just thinking how much this EA would make!?
Here is my edited version of Bob's EA earlier introduced by der stratege
This places Stop orders instead of market orders so the result is, if there is no enough retrace between orders some orders are skipped so that overall profitability is increased and it gives enough time to delete order in case of sudden spurts.
I have used it on GBPJPY, EURJPY, EURUSD and GBPUSD. Most of the trade is done by GBP pairs. Since I have used a maximum TP of around 35, range is limited but this TP is easy to achieve within...
Gator - Trader Learning and Earning
  • #2,240
  • Jul 13, 2009 2:39am Jul 13, 2009 2:39am
Quoting gator-trader
Your Revised EA... do no have a newer version yet?

Does this also trade on the 4hr charts?
Does it work with 5 digit brokers?
You make your newer version by optimizing it.
You can trade 4hr by changing TF to 240. It should work with 5 digit brokers now.
"Put all your efforts in becoming effortless"
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