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Mister ED's 4 hour Heikin Ashi system

  • #581
  • Aug 10, 2009 10:21am Aug 10, 2009 10:21am
Hi every Body...!

Is Any one using this system on live account and if yes then what are the results and since when.......
i have started religiously fallowing this system leaving all other systems and have had tremendous results. the major benefits i have seen are::

1. It does not miss any major move and gets the meat of all the major moves
2. this is by far the most simple system i have ever seen.
3. it ensures that one enters in a trend when it is well on its way and has little chances of whipsaw.
HOWEVER::: some of the demerits (if you call it that)::
1. its not a system for milking each and every pip from the move
2. One must brace himself for large draw downs

ANY ONE ELSE FEELS THE SAME WAY OR OTHER WISE PLEASE ADD YOUR IN PUT
  • #582
  • Aug 10, 2009 11:22am Aug 10, 2009 11:22am
Hi guys,

this looks good. I've been trying to get the EA working on a demo Alpari UK account, i've tried both versions 11 and the new version 12, but i'm not getting any trades.

Anyone else having any issues getting this to make trades?

My EAs are loaded, allow live trading, EAs turned on, smiley faces - the works - but still nothing.

Any ideas?
  • #583
  • Aug 10, 2009 12:56pm Aug 10, 2009 12:56pm
Quoting nutsford
Hi guys,

this looks good. I've been trying to get the EA working on a demo Alpari UK account, i've tried both versions 11 and the new version 12, but i'm not getting any trades.

Anyone else having any issues getting this to make trades?

My EAs are loaded, allow live trading, EAs turned on, smiley faces - the works - but still nothing.

Any ideas?
Same with me. Also, shouldn't I be able to change the time frame?
I went ahead and put it on a demo at 5 min, just to see it make trades and no trades are made.
  • #584
  • Aug 10, 2009 6:37pm Aug 10, 2009 6:37pm
same here. Any idea?

thanks !!

Regards
  • #585
  • Aug 11, 2009 8:43am Aug 11, 2009 8:43am
Quoting alllivemind
Same with me. Also, shouldn't I be able to change the time frame?
I went ahead and put it on a demo at 5 min, just to see it make trades and no trades are made.
Assuming you have the smiley face, check EA properties under "EAPeriod" Change to "2" for M5.
.
  • #586
  • Aug 11, 2009 8:56am Aug 11, 2009 8:56am
HI Mr. Ed,

First, I wish to thank you for your generosity in sharing your system. I have been following the thread for some time now.

The EA by LB is great and I very much appreciate his quality work. I am running 3 of his EAs of different versions and settings on different accounts. There has been some drawdown lately, and I wonder if it is just a drawdown period that is normal to any good system, or maybe I have done something to the EAs that I have to make them take trades at the wrong time.

Would you mind posting a couple or your most recent trades, or maybe even active trades and times, for me to cross referrence with what the EA did?

Thank you
  • #587
  • Aug 11, 2009 9:48am Aug 11, 2009 9:48am
Quoting bils32611
Hi every Body...!

Is Any one using this system on live account and if yes then what are the results and since when.......
i have started religiously fallowing this system leaving all other systems and have had tremendous results. the major benefits i have seen are::

1. It does not miss any major move and gets the meat of all the major moves
2. this is by far the most simple system i have ever seen.
3. it ensures that one enters in a trend when it is well on its way and has little chances of whipsaw.
HOWEVER::: some of the demerits (if you call...
Hi Bils
I think you have summed up the system quite accurately. It is not meant to be the best system ever invented and it will not grab every pip out there. However it should be straightforward to impliment. Some trades take a while and it requires some patience and guts.

Lst week was very bad. But that is often the way in the first trading week of the month, and is made worse by the low volumes in August. However things appear to be moving now and we are making up the lost pips.

I am not live this week as I am moving house but today would have been nice.

Once things have settled I can devote myself to testing the EA's that have arisen.

All the best,

Mister ED
  • #588
  • Aug 11, 2009 9:51am Aug 11, 2009 9:51am
Quoting Ebont74
HI Mr. Ed,

First, I wish to thank you for your generosity in sharing your system. I have been following the thread for some time now.

The EA by LB is great and I very much appreciate his quality work. I am running 3 of his EAs of different versions and settings on different accounts. There has been some drawdown lately, and I wonder if it is just a drawdown period that is normal to any good system, or maybe I have done something to the EAs that I have to make them take trades at the wrong time.

Would you mind posting a couple or your most...
Hi Ebont

Last week was not good, actually the worst week in over 2 years with the system. However as I said above the first week of a month combined with August meant the market lost direction and had some quite large candles with tails and retracements.

This week is proving better and should make up for things.

All the best,

Mister ED
  • #589
  • Aug 11, 2009 12:18pm Aug 11, 2009 12:18pm
Quoting Mister ED
Hi Ebont

Last week was not good, actually the worst week in over 2 years with the system. However as I said above the first week of a month combined with August meant the market lost direction and had some quite large candles with tails and retracements.

This week is proving better and should make up for things.

All the best,

Mister ED
Hi Mr Ed

Its already making up

Im testing the EA that LB put together and he has done an out standing job.

Good luck all
  • #590
  • Aug 11, 2009 12:34pm Aug 11, 2009 12:34pm
Quoting LongBar
Hi dfxclub,

Take a look at the experts as well as the MT logs, see

 

  1. "path to MT"/experts/logs folder for EA specific logs, and
  2. "path to MT"/logs folder for MT specific logs

Those should give you explanation why the trades you expected did not happen - well at least should be a good starting point

If, after the review, still not clear why the trades were missed then post here the relevant log extracts.

longbar

Hi LB

last week was a bit painful with the system but that was due to refining delays etc.

This week the EA is so far doing well. I still was not able to get the MM right and did go thru the log how ever due to the number of ins and outs it was a bit dramatic.

So Im doing it like this...

Risk per trade 1.5% of account. THe system sets the stop loss any way. And I get out according to my predefined support resistance or my oversold indicator lighting up.

Below are the trades opened and closed and I still have one trade open being NASDAQ index up 230$ so far. So when my oversold indi pops up Im gonna close that too.

Will see how that goes. I understand its a bit side tracked from Mr Eds initial fully automatic set up, however its the best I could come up with right now.

All the best
Attached Image (click to enlarge)
Click to Enlarge Name: so far.jpg Size: 50 KB
  • #591
  • Aug 11, 2009 1:24pm Aug 11, 2009 1:24pm
Hi,

Great system.
Very well presented instructions on the DOC link.
Thank you.

I'm going to try fwd test this on a dedicated demo account, following your rules as presented, no tweaks.

However, I'm trying to adapt a bit toward a set & forget. My situation is much like Dreamliner's in that I can't/won't/refuse to watch the screen all day long. It seems to me, that according to your rule, I must re-set the SL 2 to BEP (or top of the HA) once TP 1 has been attained.

Wouldn't setting both trades with identical SL of 4 hr. ATR(20), but SL 2 has a TS put on equal to the SL/TP index, as well as TP 1 at ATR (20), but with no TP 2; accomplish basically the same goal, but will execute automatically, rather than having to wait for it so to re-set?
TP2 can then be managed at a later time in a discretionary manner, however being protected by SL 2.

Your analysis is appreciated, Mr ED.

Thanks for your contribution.
  • #592
  • Aug 11, 2009 1:39pm Aug 11, 2009 1:39pm
Hey MisterEd,

Did you get my email that I sent your sir? Thanks

Jimmy B
  • #593
  • Aug 11, 2009 2:10pm Aug 11, 2009 2:10pm
Quoting petero
Hi,

Great system.
Very well presented instructions on the DOC link.
Thank you.

I'm going to try fwd test this on a dedicated demo account, following your rules as presented, no tweaks.

However, I'm trying to adapt a bit toward a set & forget. My situation is much like Dreamliner's in that I can't/won't/refuse to watch the screen all day long. It seems to me, that according to your rule, I must re-set the SL 2 to BEP (or top of the HA) once TP 1 has been attained.

Wouldn't setting both trades with identical SL of 4 hr. ATR(20), but SL 2...
Hi Petero

Yes you can do things the way you suggested. I trade with a spread better that does not use a trailing SL facility. That is why I have used this system.

All the best,

Mister ED
  • #594
  • Aug 11, 2009 2:11pm Aug 11, 2009 2:11pm
Quoting jimbnc
Hey MisterEd,

Did you get my email that I sent your sir? Thanks

Jimmy B
Hi Jimmy

No I haven't got anything yet. Try PMing me.

Mister ED
  • #595
  • Aug 11, 2009 3:04pm Aug 11, 2009 3:04pm
this system is interesting.
please can somebody kindly explain a step by step procedure on how to tail the the second half of the trade once TP1 is triggered as i have no experience with trailing stop loss.
it is better to miss than to loss pips
  • #596
  • Edited 6:48pm Aug 11, 2009 6:11pm | Edited 6:48pm
Quoting 2pips
this system is interesting.
please can somebody kindly explain a step by step procedure on how to tail the the second half of the trade once TP1 is triggered as i have no experience with trailing stop loss.
Hi, a "conventional" trailing stop is available in Metatrader. Right click on a position and select "trailing stop" then enter a value. 50 pips is common but it could be 100 or 30 or whatever. This trailing stop only comes in effect after you are in profit by the amount of the trailing strop. Say trailing stop is 50 pips. Say profit is 50 pips, then the trailing stop of 50 kicks in and moves the stoploss to breakeven. For every additional pip that the price moves further in profit, the stop loss increases by a pip. So if you are 200 pips in profit, your trailing stop loss has locked in 150 pips. If price retraces 50 pips, your position is closed 150 pips in profit. If you use the built-in trailing stop, you don't have to monitor the position after the trailing stop kicks in.

Mister Ed is not using the Metatrader trailing stop. Mister Ed uses the most recently closed Heiken Ashi Smoothed candle as the trailing stop. This is a "manual" trailing stop. If price retraces and touches the "wick" or the "body" (his/your choice) of the most recently closed Heiken Ashi Smoothed candle, then the position is closed.

If he is manually trading, he checks the position every 4 hours (when he can) and move the stoploss to the top (for long) of the most recently closed heiken ashi smoothed candle (wick or body.) He right clicks the position, selects "modify" and changes the stoploss.


Note Longbar's EA will do this.

I hope this helps,

Jack
  • #597
  • Aug 11, 2009 7:37pm Aug 11, 2009 7:37pm
Quoting 2pips
this system is interesting.
please can somebody kindly explain a step by step procedure on how to tail the the second half of the trade once TP1 is triggered as i have no experience with trailing stop loss.

Jack H's explaination was spot-on!

Be aware, though, in MT4, one can't split the stops.
If you're going to have part of your position with hard stops and another part with other stops, or trailing stops, you'll need to enter seperate positions. Split the same risk over several seperate positions.
  • #598
  • Aug 11, 2009 7:38pm Aug 11, 2009 7:38pm
Quoting biz0101
Please update with your results. tnx

I'll be happy to.
  • #599
  • Aug 11, 2009 9:56pm Aug 11, 2009 9:56pm
This EA is doing well for me, im wondering which method most people are using for TP? im using the fixed target from ATR so it seems like its doing 1;1 risk/reward

anyone using the other methods to incrase profits? thanks
  • #600
  • Aug 12, 2009 3:33am Aug 12, 2009 3:33am
Quoting avatarx51
This EA is doing well for me, im wondering which method most people are using for TP? im using the fixed target from ATR so it seems like its doing 1;1 risk/reward

anyone using the other methods to incrase profits? thanks
@avatarx51: Could you post the ATR indicator you use as I cannot see with mine what you mean by using the fixed target from ATR?

Manuel
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