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123 Pattern EA

  • #81
  • Feb 11, 2010 3:54pm Feb 11, 2010 3:54pm
I've been playing with a few different set files. I'm uploading them all. The one I used first was Mastery's - but the drawdown was so bad I had to try some others. Some with MM - that seemed to slow it down a little Some with partial closings - that was OK too.

It doesn't seem to like 1.0 lots with only sl & tp - it goes crazy.

ALSO, I do NOT use it on EU. I read from keysharp that all his losses were with EU - so I believed him. It seems it like certain brokers - The one with the most success is MIG - the least FXDD.

I can't figure the thing out BUT I'm having fun trying!!!

Good Luck!!!

Jim (MrChips)
Attached File(s)
File Type: zip opto-presets.zip   3 KB | 2,515 downloads
Jim (MrChips)
  • #82
  • Feb 11, 2010 5:28pm Feb 11, 2010 5:28pm
hello mr.chips,

i believe i have the manual for usdbot. if you would like it, please let me know i can attach it here.

btw, im about as new as you can get. you attached some new "presets," which one is good to use?

thank you,
  • #83
  • Feb 11, 2010 6:30pm Feb 11, 2010 6:30pm
I'm trying to find out myself.

The mastery one goes out of control after awhile. Try trailing & mm - they're both a little mre conservative.

If you would be so kind to attach that manual I would appreciate it. Thanks!

Jim (MrChips)
Jim (MrChips)
  • #84
  • Edited 7:57pm Feb 11, 2010 7:32pm | Edited 7:57pm
oh jeez...i cant b/c it says this "Exceeds your quota by 936.9 KB.)

if you're new around here they really treat you like a step child.

tried zipping the file and it says this: "Exceeds your quota by 741.5 KB."

ok so i figured out a way: http://rapidshare.com/files/349406514/USDBOTGUIDE.pdf.html

hope this helps, if not i can see if i can find more.
  • #85
  • Feb 12, 2010 2:17am Feb 12, 2010 2:17am
The input settings "MoneyManagement" and "Risk" are not working as I expected they would.

My account balance = USD $5,000. It is a demo standard account with a 5-decimal broker (IBFX demo account).

"Lots" = 1.25

"MoneyManagement" = True

"Risk" = 6

"UseStopLoss" = True

"StopLoss" = 240 (really 24 pips; extra zero for 5-decimal account)

I am willing to risk $300 of my $5,000 account on a given trade. $300 of $5,000 is 6%. Trading EUR/USD only, 1.25 standard lots is $12.50 per pip. $12.50 per pip x 24 pips = $300. That is why I set "Risk" = 6, believing that the setting of 6 would represent 6% risk.

Lo and behold, when the 123 pattern EA opened a trade, it opened the trade with a lot size of 0.25, not 1.25 as I expected it would.

I am not using trailing stops, partial closing of positions, or any of the other input settings available with this EA.

Can any of you explain how these settings work, and how I can accomplish the desired money management scheme that I have described above?

Thanks.
  • #86
  • Feb 12, 2010 3:14am Feb 12, 2010 3:14am
Hello,
I'm trying to set up Opto123 with PartialClose which I found very interesting.
I use it on EU with M15.
SL=30
TP=200
Lots=0.4

The one problem I have notice is with PipsTarget_1 which is set up to 15pips.
When it reach 15 pips it closes 25% (0.1) but it doesn't move SL for 30pips up.
I'm trying to cut losses on first PipsTarget and to move SL but it stays where it was.

I was in a good trade and hit PipsTarget_2 which is set up to 50pips. Then SL moved for a specified amount under Move_SL_2=30.

Problem is that it works on PipsTarget_2 but SL stays where it was on PipsTarget_1.

Anyone with this problem?

Regards!
  • #87
  • Feb 12, 2010 3:41am Feb 12, 2010 3:41am
Came across your thread and I noticed some people having some losses have a look at this and maybe you can add it to your code. http://code.google.com/p/aivengo/sou...?spec=svn4&r=4
  • #88
  • Feb 12, 2010 6:49am Feb 12, 2010 6:49am
Everybody needs to read the second post of this thread.
  • #89
  • Feb 12, 2010 7:09am Feb 12, 2010 7:09am
Quoting rimpampa
Hello,
I'm trying to set up Opto123 with PartialClose which I found very interesting.
I use it on EU with M15.
SL=30
TP=200
Lots=0.4

The one problem I have notice is with PipsTarget_1 which is set up to 15pips.
When it reach 15 pips it closes 25% (0.1) but it doesn't move SL for 30pips up.
I'm trying to cut losses on first PipsTarget and to move SL but it stays where it was.

I was in a good trade and hit PipsTarget_2 which is set up to 50pips. Then SL moved for a specified amount under Move_SL_2=30.

Problem is that it works on PipsTarget_2 but...

Solved!

If I put 0 for Move_SL_1 then I have a problem. Just put Move_SL_1=1 and there you go.
Keep in mind that EA first modifies trade and then closes part of it, so you must calculate to have 10 pips between targeted SL & PipsTarget_1 when SL_1 moves up.

Best regards!
  • #90
  • Feb 12, 2010 8:43am Feb 12, 2010 8:43am
This is from Forex Peace Army!!!

In case you missed it, USDBot looks like it turned out to be a scam due to software piracy. There are a couple of others that the FPA is checking into. The Scam Investigations Committee can't just slap a scam label on an EA as soon as a report comes in about a possible case of pirated software. If they did that, someone would get the bright idea to report every EA as pirated.

You can read the FPA Scam finding here...

USDBot.com Blacklisted by FPA

It has a link to the report from 4xProject.com if you want more details.
Jim (MrChips)
  • #91
  • Feb 12, 2010 9:51am Feb 12, 2010 9:51am
Thanks MrChips, that was very informative and helpful. Now we need to ask Optojay about the use of this ea, since there was a reference that the developers did not use the EA.
  • #92
  • Feb 12, 2010 11:34am Feb 12, 2010 11:34am
Quoting rimpampa
Solved!

If I put 0 for Move_SL_1 then I have a problem. Just put Move_SL_1=1 and there you go.
Keep in mind that EA first modifies trade and then closes part of it, so you must calculate to have 10 pips between targeted SL & PipsTarget_1 when SL_1 moves up.

Best regards!
1 and 0 are often on off settings, but I didnt realize it was so for the Move_SL settings. I thought this was the distance from breakeven to move the stop to. When I tested with Move_SL=1, it moved the stop to 1 pip past breakeven. What happened when you use a larger number?

I will test this myself, but just thought I'd ask. This Patial Close feature is quite interesting. I didnt think this was even possible with MetaTrader.

The USDBOT Guide offers no useful information. Even when he upgraded with the explanation of the user controls it was only the basic controls that we all know, and the day after that he completely changed the EA as his theft started to become known.
  • #93
  • Edited 11:55am Feb 12, 2010 11:34am | Edited 11:55am
Quoting DennisL
The input settings "MoneyManagement" and "Risk" are not working as I expected they would.

My account balance = USD $5,000. It is a demo standard account with a 5-decimal broker (IBFX demo account).

"Lots" = 1.25

"MoneyManagement" = True

"Risk" = 6

"UseStopLoss" = True

"StopLoss" = 240 (really 24 pips; extra zero for 5-decimal account)

I am willing to risk $300 of my $5,000 account on a given trade. $300 of $5,000 is 6%. Trading EUR/USD only, 1.25 standard lots is $12.50 per pip. $12.50 per pip x 24 pips = $300. That...
Also, can someone explain how "MoveStopOnce", "MoveStopWhenPrice", and "MoveStopTo" work together?

What I want to do is move my stop once and only once when the price is exactly half way to my profit target, thereby guaranteeing that the trade cannot end up a losing trade. How can I do it with these three input settings? Any changes needed to these settings for 5-decimal brokers?
  • #94
  • Feb 12, 2010 11:50am Feb 12, 2010 11:50am
Quoting DennisL
Also, can someone explain how "MoveStopOnce", "MoveStopWhenPrice", and "MoveStopTo" work together?

What I want to do is move my stop once and only once when the price is exactly half way to my profit target, thereby guaranteeing that the trade cannot end up a losing trade. How can I do it with these three input settings?

Move Stop Once is the on off setting
Move Stop When Price is how many pips in profit to be when this feature is activated
Move Stop To is how many pips in profit to move the stop to

this is just like a more advanced breakeven setting where you can actually instruct it to move the stop a certain number of pips into profit. Very similar to the Pips Target and Move_SL settings under the Partial Close. Has anyone tried using a negative number of pips to actualy trail the stop loss? Say at 15 pips profit we move the stop to -50 from a preset stop of 100, then at 30 pips the Trailing Stop takes over.
  • #95
  • Feb 12, 2010 12:40pm Feb 12, 2010 12:40pm
Quoting MrChips
Hi

Someone here said that they had purchased US$BOT - if you did can you please upload the manual. I want to try some different settings and I need to know what each setting is supposed to do?

I open opto123 on 1 account Monday - thru today $4,200 in profit. Open on another account with different broker -$1,300 5 hours!!!

Thanks in advance!!!

Jim (MrChips)

Mr Chips, I just mentioned above in a previous post about the USDBOT manual. He only covered the most basic settings.

Please, when you quote profits in dollars its a pretty useless reference. It relates specificaly to your account size and the amount of risk your taking on. However, its nice to see that it can make a quick profit, unfortunately it can give it back just as quick.

My forward test of the USDBOT version, across 4 pair, I added the gbpusd and the eurjpy, is just about breakeven. Most of the trades so far have been large losses and small wins, with about a 10 to 1 spread. The ocassional large win is what has kept it going. Running on the H1, with a $1000 demo account with a 5% risk setting on all pairs, and default settings, I am currently showing:
eurjpy -209.84
eurusd -88.10
gbpusd -8.40
usdjpy +227.30
this has only been 10 days, but still....
next week I will eliminate the eurjpy and add the usdchf. So far it seems to like the lower volitility usdjpy, and the usdchf isnt that much different. Perhaps this can beat the eurusd. Note: I didnt change the default settings, so this gives a bit more leeway to the less volitlie pair.
The default settings in the usdbot are identical to the opto123, so most trades were closed for 1 pip gain, as per the PipTarget_1 setting. For some reason though the USDBOT doesnt take partial profits like the opto123, even though its set to.
Next week I will also switch the test to the opto123. It just seems fair as these are identical and I have already refunded the USDBOT. Besides the newest version of the USDBOT is a completely different EA.
  • #96
  • Feb 12, 2010 2:02pm Feb 12, 2010 2:02pm
Hi

I have the same questions about the settings - that's why I was asking someone that purchased the USDBOT to post the manual to the system.

I'm having fun playing with it BUT I like to figure out what the thing is doing!!!

Thanks

Jim (MrChips)
Jim (MrChips)
  • #97
  • Feb 12, 2010 2:04pm Feb 12, 2010 2:04pm
It seems that "MoveStopOnce" is a true false statement.
"MoveStopWhenPrice" is asking how many pips do you want the price to advance before setting stop. So if your TP is 100 then this will be 50 or whatever you want.
"MoveStopTo" is asking where in pips do want the stop. Here you place the stop a certain number of pips below the above price position like 10 or 20. If you put it too close then you may be stopped out before its time.
  • #98
  • Feb 12, 2010 3:29pm Feb 12, 2010 3:29pm
Mr LLong, excuse the duplication, some of us are a little slow. It is snowing in my part of the world and that is a little unusual, so been in and out helping to clean out the grocery stores.

I have refunded two demo accounts and starting over with tighter sl and attempting to use trailing stop losses. this AM about 4:30 I had to close UJ because my 5,000 account with Masterforex was up 2,700 and there was not a sign that the trailing stop was in play. So I closed out the the trades manually, all 30 something. I was very opportune in that the PA was starting to go south so I salvaged 1,993. I think that for next week I am will try to get something going that will maximize profit when the PA gets up as it did this morning like 16 pips, I don't necessarily want to place a sl and have the pa come back to it and lose a lot of what had been gained. maybe closing out trades partially and moving the stop is the best way. Got all weekend to think about this.
  • #99
  • Feb 12, 2010 11:33pm Feb 12, 2010 11:33pm
Quoting MrChips
This is from Forex Peace Army!!!

In case you missed it, USDBot looks like it turned out to be a scam due to software piracy. There are a couple of others that the FPA is checking into. The Scam Investigations Committee can't just slap a scam label on an EA as soon as a report comes in about a possible case of pirated software. If they did that, someone would get the bright idea to report every EA as pirated.

You can read the FPA Scam finding here...

[url="http://www.forexpeacearmy.com/forex-forum/blacklisted-folder-unresolved-cases/8669-usdbot-com.html"][b][color=#8297c8]USDBot.com...
Mr.Chips, with all due respect - I posted on Feb 4th (post 34 on this thread) that my EA was stolen and that USDBOT was a scam! Of course, it is nice to have FPA and 4xProject back up my statements.

My apologies for not being around lately to answer people's questions regarding the Opto123 EA. It looks like several of you have been doing that for me! Thanks, Ken Long, for example.

It seems some are trying to run this on smaller than the recommended Daily timeframe. Please test on daily TF to understand the EA logic. As with most price action patterns, the 123 setup is most reliable on longer TF.

Also, I do not advise using the EA on live accounts yet. As with all EA's, it has good times and bad times.
  • #100
  • Feb 12, 2010 11:37pm Feb 12, 2010 11:37pm
It's nice to see some interest in this thread again. (Although too bad it was mostly due to USDbot).

Nonetheless, I intend to spend more time here again and I would like to develop the EA further as I do believe the 123 setup has a legitmate trading "edge". I know some would argue and debate this, but this is my belief.

Please post or PM me any ideas or indicators that may improve the 123 entry (please provide any manual backtests you have done to support your thoughts).
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