Nanningbob 60x90 EA

The one problem I see with using the MPTM and we had this discussion on my 4H trading system site is this. Once price goes below the line on the A trade it doesnt reenter and you are trying to reduce the B line trade without the A line benefit. So this may not be a good idea. For example if you have a space of 80 between lines, that means Line A trade enters at -80 from line B trade. If line A MTPM at +10 you are still -70 from line B but you are 10 pips from reentering again a second trade. If you dont reenter you are 60 pips from break even. If you dont take the MPTM trade you are only 30 pips from breakeven. That can be a big difference. Let me give you some examples.
all examples are 80 pips reentry
example #1 lots same size
B Level -80 A level 0, Level A trade moves 40 pips then A and B are break even.
example #2 Lots are 2x or A=2 lots B = 1 lot
When price moves 27 pips price is at break even
Example #3 lots are 3x or A=3 and B=1
When price moves 20 pips price is at break even.
Example #4 MPTM is +10 Lots same size
You are at -70 B level and must move another 60 pips to get to -10 or break even.
Example #5 MPTM is +20
You are at -60 B level and must move another 40 pips to get to -20 or break even.

And so on. I have been trying to get the guys at my 4H trading system to understand that keeping the reentry is a good thing. Here you may not get the reentry. However, if you do get the reentry then that is good. So in my opinion I dont know if using the MPTM with this system is a benefit but I think it is with the 4H trading system. Hope you understand this? ???

So if you want to use the MPTM you need to use numbers that bring the trade to at least BE or you will be taking losses that otherwise might be profitable trades.

Yes I limited it to two levels and used my level 3 at my discretion. I do this in case of an unexpected spike so I have some room to counter trade with. I may want to put a 3L farther away than what the EA may set. Until we get a good grasp of this system I wouldnt use it on a volatile pair even though the logic would be there. The gbp/nzd has like 250 pips between lines at times. That is a different level of trading and you dont need to start there learning a new system. Maybe after months of learning and getting used to my 2.4.2 recovery system you could add that pair. We will see. I wouldnt trade Eur/nzd, gbp/jpy, gbp/nzd, etc. with out months of seeing this. Just a precaution for now. We may find out the aud/nzd with its wide spread may not be good for this system either. I would think any spread less than 7 or 8 should do fine. The take profit uses a math formula to include the spread in its TP so you dont have to get all the way back to the next line to get your profit, however at 2 or 3 levels there is still a profit in the system.

I am also thinking there are guys who will use Lelvel A trades with a SL and they might be successful with this. I dont think you would as successful with using a SL with Line B trades though. Just some thoughts for the testing.

VERY IMPORTANT NOTICE FOR 5 DIGIT SYSTEMS:

You must imput all pip entrances with the extra digit. So 4 decimal currencies need that 5th digit and 2 decimal currencies need the 3rd digit. Pip entrances need the extra digit so 90 pips on a 4 digit system need to be 900 on a 5 digit. remember you cannot finish a number with a zero when you enter prices.This affects the following inputs.
Take profit 100 needs to be 1000
Pips 85 to 850
stop loss 1000 change to 10000
sell use the correct 5 or 3 decimal number no zero endings
buy use the correct 5 or 3 decimal number no zero endings

To get the numbers and lines to be correct during off hours or to check another time period like 2 months ago. Click on indicator list or Control I and then hit the close button. The lines and info will automatically update so you can input your correct numbers when you are in closed hours or are not patient to wait for the update during live hours.

Once you have your EA on the screen and you want to check it or make changes. Hitting F7 brings up the input screen for the EA so it is easier to check your settings or to make changes.

For example todays USD/CAD screen reads for sell 1.0200 I cant use any number ending in 0 so I enter 1.0199. You could also use 1.0201.

The buy number is 1.0080 so I entered 1.0081 or you could use 1.0079

For 5 digit you would use 1.02001 or 1.00801
OR 1.01999 or 1.02001

GOT IT

When you are all done save the profile either to Default or under a name of your choosing to prevent losing data inputs. Sometime MT4 will crash and if you saved it you can get it back. I have had MT4 crash and I lose all my inputs and have to reinput them again. This can happen during updates. So to save time save your default profile.

Something to be aware of... It could be obviouse for all of you, but in case someone isn't..
When You have multiple monitors and one of them is smaller resolution, and you happen to move mt4 from one to another, be aware that mt4 do not rescale chart. So on bigger monitor You could have 4 week timeframe and after moving mt4 application to the smaller one - only 2 weeks, and completly wrong readings from 'sixth' indicator.

Yes good point. The 4H screen you need to see 4 fulll weeks on the screen or all 5 weeks if you put your price all the way to the far right. Correct pics are below on what your screen should look like. Both of these should give you the correct figures. You can see how the gaps gave me a perfect entrance this morning. will be a good day I can see that already. Wish I had about 10 lots on that trade.

I came over to this thread last night and gave it a look. Bob, what do you think of this idea? You wait for price to cross the trade line by say 50 pips then apply the EA to kick in when price crossed back through the trade line. I know you would have to recode to get it to do this. But for long runs in the same direction, you would stay safe and only enter on the recross. I always like to run any new idea through Oct. of 2008 ( I know how you feel about that) to see if it survives. I looked at that month, one 4H candle at a time, refreshing the chart each candle to see where the trade line was. Through that whole month price stayed below the trade line most of the time on the EUR/USD. When it did come back up to the trade line (after being 50 pips below it) on several occasions, you could have gotten to BE+10 each time using the trade manager. So I'm thinking if you recode to enter on the recross of the trade line after price has gone say 50 pips past the line,( a smaller value like 30 might be OK) this would protect you on the long runs and still produce some BE trades. You could probably trade more volatile pairs this way. After looking closer at the GBP/JPY, it would not have survived (even using the BE+10) this same period. So I would stay with Bob's suggested pairs.

AU performed well today.. thanks for system need more time to feel confident

I noticed this sixth EA will reenter after a TP or STOPLOSS no matter where price is. Is that what you intended? thanks

Actually it reentered after a TP on the GBP/USD but didn't on three other pairs after TP. So don't know what's up with that.

My Idea is to use the High/low system whenever price crosses the A lines in my 4H trading system. The lines are fairly accurate in predicting the S/R lines for a currency pair so I am going to stay with it for now. That way you would get your best entrance.

Again indicators have limits and are worthless during Super News stories. You can never change that fundamental fact with any indicator created. They only work in normal markets. If somebody drops a bomb someplace, close your positions and go sit on the sideline. When the USD finally raises their interest rates I am going to sit on the sidelines for a couple of days. No indicator, buffers, etc. can predict or protect you from such moves. If your indicator happened to give you the right information, you were just lucky. Super Fundamentals (big news) always trump any indicator. That is a fundamental of trading and you cant ignore it. My plan always on super news stories is to STAY OUT OF THE MARKET unless you really really really know what you are doing. So Oct. 2008 is irrelevant to any indicator, you should just stay out unless you are a news traders that knows his stuff.

First day live and I was 21-1. Took out the Usd/Cad trade when it got close to BE. I think I am going to like this.

As long as price is above your sell number or below your buy number it will reenter. Check your input numbers.

man, I go on a work trip without internet for 2 weeks and you guys have come up with this, awesome work!

meanwhile I have seriously tried to make sense of the masterv2.0 code but I can't figure out on where which trade decisions are made. I'll test this new system and will also look at the code. Maybe I can make sense of it now it has seen less modifications. Any particular settings you want us to test?

bob,

may i ask.. is this style ok with H1?

just to review

i have placed sell price at 1.5395, buy 1.4895

GU TF H4

multiplier 1.5 lot 0.10 and leave the rest as is.

i just placed it now.

will the trade only initiate when the price cross the lines?

also, question, trading with the green lines 1.5270 sell, 1.5020 buy.. as you can see on the chart.. past days.. if i traded sell, the price just bounce back up.. making the sell drawback from the moment the 1st level tp has been hit.. right?

This is precisely the manner in which the buysellstopMASTER2.0 (coded by iamTHAT) works... you set the "stop gap" in pips from as far away from the buy or sell price you deem to be prudent. This way, if someone drops a bomb in the market and you weren't quick enough to shut off your EA, you only have to delete stops instead of closing out for a loss. It also significantly reduces drawdown as you wait for a retrace, although at the (minor) expense of missing out on some trades that turned around under the stop gap. IMO, not trading is better than trading for a loss--especially a catastrophic one.

Bob, congratulations on this--I love it for a 4H system. I've actually already started trading live on a few of the pairs you mentioned with small lots because I've traded the other EA's in this thread and this isn't so different, fundamentally. Possibly way, way better.

I just wish I wasn't so busy so I could start doing some major delving into code. I think it wouldn't be so hard to add a few lines that automatically imported the data from the indicator. How did you guys get started coding? Just by opening it up and experimenting? Typically that's the best way I learn. I heard the mq4 book is also good, but I'm afraid it was so tedious in the opening chapters I had difficulty staying with it.

I hope everyone is well and my apologies for not being more active. I'll post my results as soon as I have some.

-Jay