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Simple H1 GBPUSD EA

  • #1,421
  • Edited 3:37am May 4, 2010 2:46am | Edited 3:37am
Hi

No trades with my IBFX live/demo

If EA start time is GMT 23.00 I think

EA look if SMA10 is up/down between 21-22 candle and make decission to go long/short. (Last trade up 21-22)

Than after GMT 23.00 it looks for the correct circumstances to place a (long) trade. If this circumstances are met, it place a trade. If not, no trade.

But what is that circumstances?
Is it possible they are not met?
Is EA supposed to trade every day. Mine dont on backtest.
I,m trying ver 6 tonight.

I use ver 5a. It traded last week on my IBFX accounts.

Elovv
  • #1,422
  • May 4, 2010 3:01am May 4, 2010 3:01am
Good morning!

Or is it?

The SMA was pretty flat between 21:00 and 22:00 GMT, on Alpari it was just positive by a couple of points, so my accounts created buy orders but on different brokers the opposite could be the case.

On the chart I mark the previous day low in green and if this is broken, the first bear-target 1.5176 is marked in magenta, this is 38.2% of the previous days range below the daily low.

If it finds support at 1.5176, the long orders may be ok, if not!

Well, we are a long way from our stoploss yet!
  • #1,423
  • May 4, 2010 3:07am May 4, 2010 3:07am
Quoting geoffb65
Good morning!

Or is it?

The SMA was pretty flat between 21:00 and 22:00 GMT, on Alpari it was just positive by a couple of points, so my accounts created buy orders but on different brokers the opposite could be the case.

On the chart I mark the previous day low in green and if this is broken, the first bear-target 1.5176 is marked in magenta, this is 38.2% of the previous days range below the daily low.

If it finds support at 1.5176, the long orders may be ok, if not!

Well, we are a long way from our stoploss yet!
Maybee it should be more than a couple of points fot take a trade?

Elovv
  • #1,424
  • May 4, 2010 3:13am May 4, 2010 3:13am
Quoting calstock
Iam getting a bit concerned with some of the comments, I assume from people with limited forex knowledge, even though you are using a EA and in this case it has a high win ratio, you still need to have a basic understanding of charts/indicators...

today the EA opened long positions right on resistance/support at 1.5247 now the up side was allways going to be a tight due to the daily pivot sitting just above at 1.5259..
And the down side was always going to be strong when it brook the support at 1.5247...

The down targets are..1.5233 ( already...
Good points, and you may well turn out ot be correct, but as far as I'm concerned, you either choose to trade manually or you let the EA do it's thing.

The only intervention I will be doing is reducing lot sizes when there is a heavy slew of Jap info coming out early hours GMT. I have noticed that on two out of three occasions this year when losing trades have occured it has been after a large amount of Jap data has been released.

Maybe a coincidence, who knows, but for me I view it as a worthwhile exercise to reduce usual lot sizes on those ocasions.
  • #1,425
  • May 4, 2010 3:16am May 4, 2010 3:16am
The problem is I don't see any stoploss in v6. I assume it is hidden, isn't it?
  • #1,426
  • May 4, 2010 3:22am May 4, 2010 3:22am
Quoting calstock
Iam getting a bit concerned with some of the comments, I assume from people with limited forex knowledge, even though you are using a EA and in this case it has a high win ratio, you still need to have a basic understanding of charts/indicators...

today the EA opened long positions right on resistance/support at 1.5247 now the up side was allways going to be a tight due to the daily pivot sitting just above at 1.5259..
And the down side was always going to be strong when it brook the support at 1.5247...

The down targets are..1.5233 ( already...
Thank you calstock, are you a manual trader?

Your comments are extremely valuable and lead me to believe that you have a lot of experience that I hope you will continue to share with us, because your input will help me to include other factors into the EA that will end up improving the overall strategy.

This is our first doubtful trade and, with hindsight perhaps the EA should not have traded when the SMA was so flat going into the start time, or perhaps we should have been taking into account some of the other points that you mention in your post.

For the EA these are early days and there is a lot still to learn!
  • #1,427
  • May 4, 2010 3:23am May 4, 2010 3:23am
Quoting Emanuele
The problem is I don't see any stoploss in v6. I assume it is hidden, isn't it?
The stoploss is 140 for each trade in the default settings!
  • #1,428
  • May 4, 2010 3:25am May 4, 2010 3:25am
Quoting Elovv
Maybee it should be more than a couple of points fot take a trade?

Elovv
I tend to agree Elovv, this is the first time we have seen such a flat entry into the start time but maybe we can learn something from it!
  • #1,429
  • May 4, 2010 3:34am May 4, 2010 3:34am
funny, my Alpari nano live account took shorts last night and closed at TP1 and TS2.

my suggestion is to only allow the EA to trade in the direction of medium term trend.
TRADE FOR SWAP
  • #1,430
  • May 4, 2010 3:37am May 4, 2010 3:37am
Quoting cgldsmth
funny, my Alpari nano live account took shorts last night and closed at TP1 and TS2.

my suggestion is to only allow the EA to trade in the direction of medium term trend.
That is strange, you would think that Alpari would have some sort of consistency between its own account types.

My Alpari live micro and demo accounts both produced longs!
  • #1,431
  • May 4, 2010 3:41am May 4, 2010 3:41am
Quoting cgldsmth
funny, my Alpari nano live account took shorts last night and closed at TP1 and TS2.

my suggestion is to only allow the EA to trade in the direction of medium term trend.
Is SMA10 uo or down between candles GMT 21-22?
  • #1,432
  • May 4, 2010 3:44am May 4, 2010 3:44am
Quoting Emanuele
The problem is I don't see any stoploss in v6. I assume it is hidden, isn't it?
Hi Emanuele, have you decided what action you will take on these longs?

The price is entering an area with a lot of support around 1.5176, which just may hold but I know you trade GBPUSD so I would like to have your opinion!
  • #1,433
  • May 4, 2010 3:44am May 4, 2010 3:44am
Hi Geoff

It would be nice (if You have time) if You can ask my question from post 1421 about trade circumstances. Is EA supposed to trade every day?

Elovv
  • #1,434
  • May 4, 2010 3:51am May 4, 2010 3:51am
EURUSD short 2 trades at 1.31866 closed at 28 and 46 pips t/p as expected. Anyone looking into this ea right now?
  • #1,435
  • May 4, 2010 3:54am May 4, 2010 3:54am
Quoting Elovv
Hi

No trades with my IBFX live/demo

If EA start time is GMT 23.00 I think

EA look if SMA10 is up/down between 21-22 candle and make decission to go long/short. (Last trade up 21-22)

Than after GMT 23.00 it looks for the correct circumstances to place a (long) trade. If this circumstances are met, it place a trade. If not, no trade.

But what is that circumstances?
Is it possible they are not met?
Is EA supposed to trade every day. Mine dont on backtest.
I,m trying ver 6 tonight.

I use ver 5a. It traded last week on my IBFX accounts.

Elovv
At the moment a difference between the SMA at 21:00 and 22:00 GMT, no matter how small, is used to determine the direction of the trade.

We then wait for a M15 fractal to confirm the direction and then we wait for a confirmed M5 fractal for the entry point.

All three conditions have to be met within the 1 hour bar 23:00 GMT.

With fractals you have to wait for the third bar before the fractal is locked, this is why I move to the lower time frames for confirmation.

If all the conditions are not met the EA will not trade.

I hope this answers your question!
  • #1,436
  • May 4, 2010 3:55am May 4, 2010 3:55am
Quoting geoffb65
Hi Emanuele, have you decided what action you will take on these longs?

The price is entering an area with a lot of support around 1.5176, which just may hold but I know you trade GBPUSD so I would like to have your opinion!
I don't know geoff. I'm not an experienced trader, but so far I could see GBPUSD is a bouncing pair which means those trades could turn positive in the next hours. I'm leaving the trades open and see what happens. I was thinking to hedging to prevent my account to be busted.

My only concern is about the stoploss, which is zero in both longs.

I fired both v5 and v6 on Alpari UK to see differences, infact v5 didn't open any trade which is correct in my opinion since it's ranging. V6 opened two longs which are negative by now. I hope it will turn positive like the other trades of last week.
  • #1,437
  • May 4, 2010 4:19am May 4, 2010 4:19am
Quoting Emanuele
I don't know geoff. I'm not an experienced trader, but so far I could see GBPUSD is a bouncing pair which means those trades could turn positive in the next hours. I'm leaving the trades open and see what happens. I was thinking to hedging to prevent my account to be busted.

My only concern is about the stoploss, which is zero in both longs.

I fired both v5 and v6 on Alpari UK to see differences, infact v5 didn't open any trade which is correct in my opinion since it's ranging. V6 opened two longs which are negative by now. I hope it will turn...
The stoploss only shows zero because it is hidden from your broker, it is still there at 140 per trade.

I agree with your assesment and will leave my trades open, we have seen this before in back testing where the temptation is to close the trade with a loss only to watch it move back into profit later!

With my accounts v4 opened a single long, v6 demo and v6 live both opened 2 longs.

Thank you for sharing your assesment with us!
  • #1,438
  • May 4, 2010 4:21am May 4, 2010 4:21am
Quoting geoffb65
At the moment a difference between the SMA at 21:00 and 22:00 GMT, no matter how small, is used to determine the direction of the trade.

We then wait for a M15 fractal to confirm the direction and then we wait for a confirmed M5 fractal for the entry point.

All three conditions have to be met within the 1 hour bar 23:00 GMT.

With fractals you have to wait for the third bar before the fractal is locked, this is why I move to the lower time frames for confirmation.

If all the conditions are not met the EA will not trade.

I hope this answers...
Thankyou

Than I guess in a flat market maybee the conditions are not met. Maybee its possible to see fractals value if I drag them to my chart and see when tradingconditions are met.
I have to test.

Best wishes
Elovv
  • #1,439
  • May 4, 2010 4:21am May 4, 2010 4:21am
Quoting Elovv
Is SMA10 uo or down between candles GMT 21-22?
down, just.
TRADE FOR SWAP
  • #1,440
  • May 4, 2010 4:24am May 4, 2010 4:24am
Quoting cgldsmth
down, just.
Than its correct with a sell on that brooker
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