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  • #561
  • Nov 23, 2009 10:41am Nov 23, 2009 10:41am
Quoting Forex37
Lrathi, am I right, that the major difference between standard entry methods and blocks methods is: Blocks method requires switch to same color only whilst standard methods require switches in proper sequence?

Sorry, but I`m a bit slow.

Thanks

Forex37
Block method uses the trix meter version roy 05 based on close of candle.
This is what Gleneagles prefers to be used as it is easier.

The Xecret Trix meter versions are based on Trix crossong the zero line.
So, when using these versions and looking at close of candles too, it is important to see the sequence. This is my understanding.Wait for highest TF close followed by the next lower TF and then the close of the ENTRY TF which is M5.

Hope this helps.

I suggest use the TRIX METER version roy05 to begin with.
  • #562
  • Nov 23, 2009 11:20am Nov 23, 2009 11:20am
Quoting paidperpip
Hi Freddi

Nice trade! You must have beaten me into it by a matter of pips, because I only got TP1 before the reversal of -15 pips, which took me out. By rights, I should have gotten TP2 at 35 too, but perhaps my spread was bigger, or as I said, you got in before me...

I am using the same EA as you. If you look closely at it, you will see that it actually has a third TP in it, as well as the SL.

I am using standard indis and standard settings. ..

PPP
Thanks PPP, will give it a try.

Freddi
  • #563
  • Nov 23, 2009 11:21am Nov 23, 2009 11:21am
Quoting lrathi
This may help to see how the update stop(2) management EA is set to manage 4 positions.
The example is using EURUSD and suggested TP and SL and TS for microlots and for the 60-15-5 strategy.(manual page 13).

The last 25% of 0.4 microlots will be taken out by the TS.

Thanks Lrathi.

Freddi
  • #564
  • Nov 23, 2009 11:29am Nov 23, 2009 11:29am
Quoting lrathi
Block method uses the trix meter version roy 05 based on close of candle.
This is what Gleneagles prefers to be used as it is easier.

The Xecret Trix meter versions are based on Trix crossong the zero line.
So, when using these versions and looking at close of candles too, it is important to see the sequence. This is my understanding.Wait for highest TF close followed by the next lower TF and then the close of the ENTRY TF which is M5.

Hope this helps.

I suggest use the TRIX METER version roy05 to begin with.
Thank you for the confirmation, Lrathi. That was just my understanding from thread and your marvellous manual.

Thanks and regards

Forex37
  • #565
  • Nov 23, 2009 2:46pm Nov 23, 2009 2:46pm
Quoting f4mnect
posting a pic of the new indicator in testing now

Will you be releasing this Indie please?
  • #566
  • Edited 6:18pm Nov 23, 2009 3:25pm | Edited 6:18pm
Here is my attempt at scaling out. It gained me only 6 more pips---or $60 more than if I just went for the 20 pips outright--on this occasion.
Also about roys meter--I'm not sure everyone gets that it prints the blocks one candle after the trix arrow. So the candles high (for long) that you have to beat by 2 pips is the one to the left of the block signal. It says this in the manual. A great way around this is mentioned in Indreks thread recently. He runs Xecrets indy FOR THE 5 MIN ONLY- which prints the signal block exactly per trix arrow----leave the next 2 rows with roys indy on them. This way the signal candle is the only one you have to look at and its high is the one you look at. Not much difference but slightly easier perhaps.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 24 11 09.jpg Size: 246 KB
We are all One. Be present. Be the Observer
  • #567
  • Nov 23, 2009 3:38pm Nov 23, 2009 3:38pm
Got my TS hit on GU and EU, but only just! Would have been a different result had I got in a few pips earlier, but such is life!

GU = +25, + 27 = 52
EU = +25, +24 = 49
AJ = +20, +30, +54 = 104
AU = + 20, +63 = 83

Total for the night = 288

Closed out of the AUD trades when it was time for bed.

I would be happy getting 288 five nights a week!

Not every day is a Friday, but they are nice when they happen.

Will keep trading to the plan, because it is working for me.

PPP
How do you make a small fortune in Forex? Start with a large one!
  • #568
  • Nov 23, 2009 4:56pm Nov 23, 2009 4:56pm
Quoting paidperpip
Mate, that should have come over with the template, I would have thought? If not, all I did was just to add labels to the chart. When I load the template on a new pair on my machine, it brings up the checklist...

If all else fails, just add the labels yourself.

PPP
Thanks PPP, didn't know you could add labels yourself.
  • #569
  • Nov 23, 2009 8:46pm Nov 23, 2009 8:46pm
Quoting ForexHunter
Thanks PPP, didn't know you could add labels yourself.
Manual page 19: Additional information:
Additional useful information:
1. How to use the MT4 platform?
There are several video tutorials to help in the use of MT4 platform:
http://www.livevideo.com/media/tag/mt4-platform-tutorials.aspx
http://www.traderslog.com/metatrader-tutorial.htm
http://www.ibfx.com/video/watch.aspx?vid=29
http://www.traderschoicefx.com/metatrader-tutorial

I find it very useful to know how to use all the features of the platform I am trading on.

The HELP menu in the platform is also another very useful resource.

In my early days..... of MT4 trading ....eg. drawing pararell lines was missing until I read it is also possible on MT4 too if I only read more.
  • #570
  • Nov 23, 2009 9:37pm Nov 23, 2009 9:37pm
Quoting Iamfx
Here is my attempt at scaling out. It gained me only 6 more pips---or $60 more than if I just went for the 20 pips outright--on this occasion.
Also about roys meter--I'm not sure everyone gets that it prints the blocks one candle after the trix arrow. So the candles high (for long) that you have to beat by 2 pips is the one to the left of the block signal. It says this in the manual. A great way around this is mentioned in Indreks thread recently. He runs Xecrets indy FOR THE 5 MIN ONLY- which prints the signal block exactly...
IMHO this is a step in the right direction. Trading the 4x recommended pairs 20x4 .....5 days a week 20x4x5= pips add up. Averages out when the trend is strong would have got more pips etc. You will loose some too, overall Gleneagles quotes 30% each month gain over several thousands of trades.... 30x12=360%pa..... Bank rates are 5-10% pa.

Another point to make is HINT 2 in tha manual..... You can re-enter the trade and make more pips too!

You have explained a good point again regards the Block method TRIX meter. Also, reading your post, it shows when one understands the working of the indicators and thinks "OUTSIDE THE BOX" how creative one can put to use the various versions of TRIX meter to one's advantage.

Thanks for this good post.
  • #571
  • Nov 23, 2009 11:27pm Nov 23, 2009 11:27pm
Quoting lrathi
IMHO this is a step in the right direction. Trading the 4x recommended pairs 20x4 .....5 days a week 20x4x5= pips add up. Averages out when the trend is strong would have got more pips etc. You will loose some too, overall Gleneagles quotes 30% each month gain over several thousands of trades.... 30x12=360%pa..... Bank rates are 5-10% pa.

Another point to make is HINT 2 in tha manual..... You can re-enter the trade and make more pips too!

You have explained a good point again regards the Block method TRIX meter. Also, reading your post,...
No worries. When I first added my signature I thought it was a bit ordinary--but the more I see it the more I like it. Ha --here it is again.
We are all One. Be present. Be the Observer
  • #572
  • Edited 1:57am Nov 24, 2009 1:42am | Edited 1:57am
EU 60/15/5
All 4 positions stopped out for +25 = +100

PPP/Lrathi...please have a look at my EA settings..obviously I have done something wrong, but I cannot see what.

Whilst the trade was in play, I had noticed that the SL setting was "148.216", so disabled the EA to try and control manually...I think this triggered the trade closure.

Thanks,

Freddi

EDIT: OK I see what I have done wrong...I have both the "Take Profit" and the "Take Profit %" settings wrong!!
Attached Image (click to enlarge)
Click to Enlarge Name: 091124-eu see sl.gif Size: 19 KB
Attached File(s)
File Type: doc 091124-EU-TP EA SETTINGS.doc   140 KB | 296 downloads
  • #573
  • Nov 24, 2009 1:56am Nov 24, 2009 1:56am
normally, we do not trade when the daily range is exhausted .we can know it by referring to the xADRv0.2 (green means still have room to move) but i want to confirm that is daily range is exhausted when today range is not more than 80% of WHAT??
is't the today range 80% of ADR ,5d , 10d , 20d.Which one?can anybody explain to me more detail because i want to know how it actually work .
it is an example:
T=103
Y=147
ADR=155
5d=144
10d=138
20d=192
so, what i understand is 80% of ADR >>> 155*80% is 124 so we cannot trade when today range already move around 124pips??Am i right?
  • #574
  • Nov 24, 2009 2:56am Nov 24, 2009 2:56am
Quoting freddi
EU 60/15/5
All 4 positions stopped out for +25 = +100

PPP/Lrathi...please have a look at my EA settings..obviously I have done something wrong, but I cannot see what.

Whilst the trade was in play, I had noticed that the SL setting was "148.216", so disabled the EA to try and control manually...I think this triggered the trade closure.

Thanks,

Freddi

EDIT: OK I see what I have done wrong...I have both the "Take Profit" and the "Take Profit %" settings wrong!!
Just return home for a short time.

Glad you worked it out yourself. The example I gave is the exact figures for EURUSD
  • #575
  • Nov 24, 2009 3:01am Nov 24, 2009 3:01am
Quoting weisiong00
normally, we do not trade when the daily range is exhausted .we can know it by referring to the xADRv0.2 (green means still have room to move) but i want to confirm that is daily range is exhausted when today range is not more than 80% of WHAT??
is't the today range 80% of ADR ,5d , 10d , 20d.Which one?can anybody explain to me more detail because i want to know how it actually work .
it is an example:
T=103
Y=147
ADR=155
5d=144
10d=138
20d=192
so, what i understand is 80% of ADR >>> 155*80% is 124 so we cannot trade when today range already move...
Weisong00:
I will ask you a few questions as I like you and others to think about things first and see if you can come up with the answer first.

Q1. What does ADR stand for? The meaning of it? (A=???? D=???? R=????)
Q2. What does 5d,10d,20d represent?
Q3. How do you think the ADR=155 was calculated?

After you answer I think you will see the answer yourself. If not I will ask more questions.

Thanks
  • #576
  • Nov 24, 2009 6:40am Nov 24, 2009 6:40am
Hi All,

im running the updated stops ea on EURUSD (Alpari DEMO)with the configuration in post 560.

As soon i open a trade it sets my hard stop perfectly at 30 pips....but....i dont see any tp orders so far.Do they kick in later or should they be placed by the ea right after i opened the trade?

It would be great if someone could help me out

cheers
  • #577
  • Nov 24, 2009 7:02am Nov 24, 2009 7:02am
Quoting thecambist
Hi All,

im running the updated stops ea on EURUSD (Alpari DEMO)with the configuration in post 560.

As soon i open a trade it sets my hard stop perfectly at 30 pips....but....i dont see any tp orders so far.Do they kick in later or should they be placed by the ea right after i opened the trade?

It would be great if someone could help me out

cheers

Hello thecambist,

The EA holds the TP levels in memory and activates the orders as the appropriate price is hit, the levels will not appear on the chart. As a concequence the EA must remain active (PC switched on) while the trade is in progress.
TTFN Merlyn
  • #578
  • Nov 24, 2009 7:12am Nov 24, 2009 7:12am
Quoting Merlyn
Hello thecambist,

The EA holds the TP levels in memory and activates the orders as the appropriate price is hit, the levels will not appear on the chart. As a concequence the EA must remain active (PC switched on) while the trade is in progress.

Thank You so much for the answer.Thats what i thought but i wasnt sure...now its clear

Thanks again
  • #579
  • Edited 4:55pm Nov 24, 2009 8:00am | Edited 4:55pm
Quoting thecambist
Thank You so much for the answer.Thats what i thought but i wasnt sure...now its clear

Thanks again
Another thing, if you use the 25% settings, like PPP does, then it closes a quarter of your trade for each of the 3 TP's it hits, then the last quarter has no TP set, but uses the trailing stop only to let it run as long as possible. This needs the PC (and the EA) to remain running.

This also requires entering trades in lots divisible by 0.4 so it can slice the trade evenly into quarters..
  • #580
  • Nov 24, 2009 3:15pm Nov 24, 2009 3:15pm
Quoting pgpb
I can hardly wait until you are banned from this thread
It is just a matter of time.
is there not another thread that you can go and write stupid stuff in?
im guessing he made 5 normal trading style posts, to get past moderation, then spam another 10-15 to get his post count up....

hmmm interesting tactic, i wonder if i can do that LOL
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