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scooby-doo BOJ JPY pairs trading robot

  • #5,341
  • Feb 6, 2010 4:26am Feb 6, 2010 4:26am
Cheers Scoobs - looking forward to testing it.

Shall I start posting links to the latest version in post 1?

  • #5,342
  • Feb 6, 2010 4:34am Feb 6, 2010 4:34am
Quoting SteveHopwood
Cheers Scoobs - looking forward to testing it.

Shall I start posting links to the latest version in post 1?

I havent actually tested it.

But it should work ok.

The only thing that could go wrong is multiple currency trend reversals.

Scoobs.
  • #5,343
  • Feb 6, 2010 4:46am Feb 6, 2010 4:46am
Quoting scooby-doo
The only thing that could go wrong is multiple currency trend reversals.

Scoobs.
They won't happen until we all go live.
  • #5,344
  • Feb 6, 2010 4:54am Feb 6, 2010 4:54am
Quoting SteveHopwood
They won't happen until we all go live.
Yeah, scooby gives us an EA which empties everyones account in nano seconds.

I have blocked major economic news but there is a problem with this...

Example:

We look at GBPJPY and it checks news for GBP and JPY but this is a cross pair and we get major news for USD which could kill the trade.

GBPJPY = GBPUSD * USDJPY.

This is one area where newbie traders will get slaughtered and is why there are so many variables to include when trying to build an automated system. When I sit down and try to code something the number of things you need to consider is near endless. New people to forex dont understand this and think you can make a universal EA to win every trade all of the time.

Scoobs.
  • #5,345
  • Feb 6, 2010 5:07am Feb 6, 2010 5:07am
Quoting scooby-doo
This is one area where newbie traders will get slaughtered and is why there are so many variables to include when trying to build an automated system. When I sit down and try to code something the number of things you need to consider is near endless. New people to forex dont understand this and think you can make a universal EA to win every trade all of the time.
Yep, and is one of the reasons I am so insistent that new traders manually trade the system the robot is automating before using the robot. I bet not many of them take any notice, but I can but try.

On the endless variations theme, coding for them takes up a lot of time. The great thing is, once coded the first time they only ever need copy/pasting ever after that. The first draft is mercilessly tedious, but is well worth the pain.

Re the news thingy, a long series of conditionals to make sure that every relevant news call is sent will take a lot of patience to code, but you won't need to code it twice.

I love your way of splitting up the pairs list into individual members of the array - much more succinct than mine cos I hand-coded a function that already exists. I shall be stealing this in future.

  • #5,346
  • Feb 6, 2010 5:20am Feb 6, 2010 5:20am
Quoting SteveHopwood
Yep, and is one of the reasons I am so insistent that new traders manually trade the system the robot is automating before using the robot. I bet not many of them take any notice, but I can but try.

On the endless variations theme, coding for them takes up a lot of time. The great thing is, once coded the first time they only ever need copy/pasting ever after that. The first draft is mercilessly tedious, but is well worth the pain.

Re the news thingy, a long series of conditionals to make sure that every relevant news call is sent will take a...
Steal away Sir.

On the news front what needs to happen is.....

Example:

Trading AUDJPY - Check news for AUD and the majors i.e. GBP, EUR, USD, JPY.

That should solve the problemo. However, this will have a knock on effect of cutting down the number of potential trades.

I will build this in and re-post the code when my girlfriend stops calling me to the bedroom.

Scoobs.
  • #5,347
  • Feb 6, 2010 7:45am Feb 6, 2010 7:45am
Hi,

Just note that the latest 2 Eas versions that Scoobs shared need to adjust the line of code that makes the robots don´t trade on fridays after 11 am GMT to your correct local timezone.

if(TimeDayOfWeek(TimeLocal()) == 5 && TimeHour(TimeLocal()) >= 11)

In my case I am GMT-5, so mine will be:

if(TimeDayOfWeek(TimeLocal()) == 5 && TimeHour(TimeLocal()) >= 6)

Thanks Mr Steve and Mr Scoobs.

I am wonder that don´t need 2000 post to figure out this.
  • #5,348
  • Feb 6, 2010 8:00am Feb 6, 2010 8:00am
Steve,

I am going to use the following for news filtering.

Basically we check the symbol passed to it AND economic news for the major pairs too.

Scoobs.

PS. I am only checking High/Major news.

//+------------------------------------------------------------------+
//| expert News function |
//+------------------------------------------------------------------+

bool NewsExist(string symbol)
{

string NewsPairs[] = {"EURUSD","USDJPY","GBPUSD","USDCHF"};
bool News = false;

Suffix = StringSubstr(Symbol(),6,StringLen(Symbol())-6);

for(int d = 0; d < ArraySize(NewsPairs); d++)
{
NewsPairs[d] = NewsPairs[d] + Suffix;
}

ArrayResize(NewsPairs,4);

NewsPairs[4] = symbol;

for(int e = 0; e < ArraySize(NewsPairs); e++)
{
int MinutesSincePrevEvent =
iCustom(NULL, 0, "Economic News", NewsPairs[e], true, false, false, true, true, 1, 0);

int MinutesUntilNextEvent =
iCustom(NULL, 0, "Economic News", NewsPairs[e], true, false, false, true, true, 1, 1);

if((MinutesUntilNextEvent <= 60) ||
(MinutesSincePrevEvent <= 15))
{
News = true;
}
}

return(News);

}
  • #5,349
  • Feb 6, 2010 8:25am Feb 6, 2010 8:25am
Looks dead right to me.

  • #5,350
  • Feb 6, 2010 11:57am Feb 6, 2010 11:57am
Updated version now includes enhanced news filtering routine.

I don't plan to support or update this very much so please don't request changes etc.

Scoobs.
Attached File(s)
File Type: mq4 Scooby 20EMA-200EMA-RSI3.mq4   7 KB | 414 downloads
File Type: mq4 Economic News.mq4   47 KB | 428 downloads
  • #5,351
  • Feb 6, 2010 6:25pm Feb 6, 2010 6:25pm
Quoting scooby-doo
Yeah, scooby gives us an EA which empties everyones account in nano seconds.

I have blocked major economic news but there is a problem with this...

Example:

We look at GBPJPY and it checks news for GBP and JPY but this is a cross pair and we get major news for USD which could kill the trade.

GBPJPY = GBPUSD * USDJPY.

I don't think it's just the mathematical relation... after all, mathematically USDJPY = AUDJPY/ AUDUSD toobut it's less likely that USDJPY traders need to look at AUD news (or CAD news).

Wouldn't it be more that GBPJPY is pro-risk/pro-carry, just like GBPUSD
or just about XXXUSD or XXXJPY, at least these days? So any news which is "risk on" (or loose money) boosts both GBPJPY and GBPUSD, and that includes US news like NFP?

E.g. in the future it could be that euros are reserve currency and USD is risk and then EURUSD would go up on the days that stock markets / carry trade goes down.
  • #5,352
  • Feb 6, 2010 7:08pm Feb 6, 2010 7:08pm
Quoting scooby-doo
Updated version now includes enhanced news filtering routine.

I don't plan to support or update this very much so please don't request changes etc.

Scoobs.
I know you said don't request changes, but I have these 15 little requests......
  • #5,353
  • Feb 7, 2010 3:41am Feb 7, 2010 3:41am
Quoting mbkennel
I don't think it's just the mathematical relation... after all, mathematically...
It is just a mathmatical forumula.
  • #5,354
  • Feb 7, 2010 3:41am Feb 7, 2010 3:41am
Quoting SteveHopwood
I know you said don't request changes, but I have these 15 little requests......
I will only do 14 of them.
  • #5,355
  • Edited 9:55am Feb 7, 2010 3:59am | Edited 9:55am
Updated version.

It now looks at AUD, CAD, CHF, EUR, GBP, NZD, USD currencies plus Gold and Silver.

I only put the last two in to see what would happen.

Don't put more than 50 Million Zimbabwean dollars in your live account for testing.

Have fun.

Attached File(s)
File Type: mq4 Scooby 20EMA-200EMA-RSI3.mq4   8 KB | 726 downloads
File Type: mq4 Economic News.mq4   47 KB | 1,156 downloads
  • #5,356
  • Feb 7, 2010 9:52am Feb 7, 2010 9:52am
You should check your brokers T&C's for the following small print:

Leveraged foreign exchange trading carries a high level of risk to your capital and you should only deal with money you can afford to lose. Leverage magnifies losses as well as profits and you may lose more than your original investment. Open positions will be closed out automatically if your margin utilisation reaches 90% or more. If Barclays Stockbrokers fails to close your positions for reasons beyond its control, you will remain liable for all losses. Terms and conditions apply.

Scoobs.
  • #5,357
  • Feb 7, 2010 10:37am Feb 7, 2010 10:37am
Many many thanks for your splendid contributions!

I notice that this version seems a "safer" one since now you consider 4 timeframes by adding 5min.

I do have a question, hopefully interesting enough for you to answer :-)

brokers, like IBFX, FXDD, their pair like euraud, gbpcad, might have spread like 12~16 pips. As we know, even 2 pips spread in EU can turn many profitable system into non-profitable ones, how do you think of trading those 10+ spread pairs? (i do see you have a limit of 10 pips spread in code). The question is same for those 7~10 pips spread pair.

The reason for this question, is in fact due to my backtest on AI.mq4 EA.
It looks promising, but its 5SL, 10TP, when considering 2 pips spread, if actually entered, you have (5-2)=3 pips before SLed, or (10+2)=12 pips before TPed. from my tests, it is not profitable. if no spread considered, AI is a highly profitable system--only not in real world.

In other words, 5 vs 10 ratio, when considered 2 pips spread, is turned into 7 vs 8 ratio (5+2 vs 10-2). spread is a big % of profit/loss.

Therefore, come back to your system, 10 pips is also a great % of TP(25), or SL(100), that's why I am a little concerned. I am wondering if it would be safer to trade only eurjpy or pairs with pips lower than 7~8?


again, thanks......



Quoting scooby-doo
Updated version.

It now looks at AUD, CAD, CHF, EUR, GBP, NZD, USD currencies plus Gold and Silver.

I only put the last two in to see what would happen.

Don't put more than 50 Million Zimbabwean dollars in your live account for testing.

Have fun.

  • #5,358
  • Feb 7, 2010 11:03am Feb 7, 2010 11:03am
Quoting charvo
Many many thanks for your splendid contributions!

I notice that this version seems a "safer" one since now you consider 4 timeframes by adding 5min....
You can change lines 190 (Spread), 192 (TP) and 193 (SL).

Don't forget that brokers can widen the spread after you have placed your trade as many did on Friday where EURCHF was over 200 for several minutes!!!!!!!!!!

Scoobs.
  • #5,359
  • Feb 7, 2010 2:06pm Feb 7, 2010 2:06pm
Quoting scooby-doo
You can change lines 190 (Spread), 192 (TP) and 193 (SL).

Don't forget that brokers can widen the spread after you have placed your trade as many did on Friday where EURCHF was over 200 for several minutes!!!!!!!!!!

Scoobs.
Look forward to test Your Robot! Does it work with both 4 and 5 digits criminal?

Elovv
  • #5,360
  • Feb 7, 2010 2:17pm Feb 7, 2010 2:17pm
This is a question for Scoobs:

How do you personally distinguish between a trending and ranging market?
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