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A Simple London Breakout

  • #521
  • Edited 2:56pm May 3, 2010 1:54pm | Edited 2:56pm
Hi all,

I have been following this thread for the last weeks, and I am quite impressed with the developments made! Congrats to all!!!

I started using Steve EA last night on a micro account live but there are still issues with the EA to make it reliable on live trading.

a) second trades aren't happening when they were supposed to happen
b) some pairs choosen don't triger the buy/sell when they should happen

I suggest everyone to wait a little bit more so this issues can be addressed.

Congrats again for this fantastic work guys!! Results are indeed promising!!

EDIT: Looks like the issue is related to the broker where I opened this micro account... they demand the stop loss / take profit order to be minimum 20 pips away from PA (!!) so I guess this is the reason why EA gave errors and didn't trigered the new position when it should. Sorry everyone...!
  • #522
  • May 3, 2010 3:01pm May 3, 2010 3:01pm
Quote
Hey guys,

First of all fantastic thread!
I was just wondering how on the charts you get say 22x2=44 pips.
Are the pending orders rejenerated or have you manually reentered for the second trade?
sorry for the newbie question!

First off, when I say 44 pips (+22 x 2), it basically means the first trade was a loss and this trade used a multiplier of 2 to recoup the first loss.
  • #523
  • May 3, 2010 3:41pm May 3, 2010 3:41pm
Hi there... me again

with yet another script for you...

London Breakout scriptV3.mq4

As some of you asked, here is a version of the script (not the EA...) that will satisfy you, i hope...

It allows to open half of the trades with a TP target set at half of the TP, the other half open at regular full TP.
Each order is opened with half the input "Lot" (which now defaults to 0.02 so that it can be divided by 2).

So it will open 4 orders instead of 2 when using this option.

To enable this option, just set the "CloseHalfTradeAtHalfTP" input to "true".

Otherwize it behaves as usual.

Orders with half TP will use MagicNumber+1 to distinguish them from regular full TP orders.

Enjoy !
Sq.
Attached File(s)
File Type: mq4 London Breakout scriptV3.mq4   6 KB | 432 downloads
  • #524
  • May 3, 2010 4:28pm May 3, 2010 4:28pm
Quoting squalou
Hi Steve,

Thanks for the congrats, it goes right to my heart

I was about to start patching your EA bot to take advantage of my GlobalVariables-based "communication method" that i experimented with the Indi and script, but no time to do that...
I prefer to let you grow your own babies!


The EA taking the entries from the GlobalVariables would be nice, indeed:
- setup the Indi with your settings,
- fire the EA on the chart, and that's it.

However, some pitfalls may come with the EA, that should be adressed:
because it is a MULTI-PAIR...
I am converting the robot to be a single trading bot. This way, traders will be more easily able to customise its settings and use in light of their own personal preferences.

I shall still look at the other stuff as well; clearly I can learn from you.

Thanks again for your brilliant contribution. I have already rewarded you in the only way I have here.

Cheers

  • #525
  • May 3, 2010 4:29pm May 3, 2010 4:29pm
Quoting squalou
Steve,

just another thought:

i think it would be good to add the following input in the EA:...
The first thing I did when starting the conversion to single-pair use. Clearly a brilliant idea. Cheers again.

  • #526
  • May 3, 2010 5:49pm May 3, 2010 5:49pm
Hi Mer...thanks for the new setting, is there any particular pair that suit best for the new settings?

Squalou ...V8 is very good, thanks

Steve...i like that single pair idea
  • #527
  • May 3, 2010 9:17pm May 3, 2010 9:17pm
Hey Mer071898,,Great work!!

I like the new settings and think we are on step closer to those drinks..

I have a question on the Martingale and hold positions until the stop or target is hit.

In the chart below of the USDJPY on April 21st we had a sideways day and stopped out a few times...at the end of the day we have 8 contracts short. The next day we get a BUY signal BEFORE the 8 contracts are stopped out.

Just wondering how you might handle this trade? Do you take the lose on the 8 ctrs and go for 16 on the new buy signal?

Personally I may only take one trade in each Direction per day, per pair, ,,, if I am stopped out both ways then it is likely a consolidation day and best to wait for the next day. If the first trade is a winner I am done of the day..

Thanks for your input,,,
Attached Image (click to enlarge)
Click to Enlarge Name: 05031015m.png Size: 55 KB
  • #528
  • May 4, 2010 12:22am May 4, 2010 12:22am
Quote
Hi Mer...thanks for the new setting, is there any particular pair that suit best for the new settings?
Well, don't get your hopes up yet, there's still a lot of testing to go before I'd put my money into it. As for which pairs work best, I'd have to stick with Gbp/Usd and Eur/Jpy. These seem to stand out a little more than the others to me.

Quote
I have a question on the Martingale and hold positions until the stop or target is hit.

In the chart below of the USDJPY on April 21st we had a sideways day and stopped out a few times...at the end of the day we have 8 contracts short. The next day we get a BUY signal BEFORE the 8 contracts are stopped out.

Just wondering how you might handle this trade? Do you take the lose on the 8 ctrs and go for 16 on the new buy signal?
You can go about it a couple of ways:

A) You could wait for the 8 lots to close out first, then place your next trade of 16 lots on the next valid entry, or

B) If you get a signal before the 8 lot trade is up, treat that signal as if you're placing a trade after a 4 lot loss. So basically, you'd have (2) 8 lot trades open at the same time.

I think you're really leaving a lot on the table by just taking one trade a day though, but that is your call.
  • #529
  • May 4, 2010 2:38am May 4, 2010 2:38am
Quoting SteveHopwood
...

I have already rewarded you in the only way I have here.

My first Vouch on FF !!!

And from MISTER SteveHopwood !!!

Many thanks for your gratefulness !

This will give me wings!

Sq.
  • #530
  • May 4, 2010 4:28am May 4, 2010 4:28am
Some bad news just came in this morning guys regarding a family member and I will be out of the loop for a few days. I will not be posting any results for the next few days but I will try and catch up when I get back, thanks for your patience. I will have my laptop with me so I might pop in to check on things.
  • #531
  • May 4, 2010 5:52am May 4, 2010 5:52am
I'm sorry to read this, Mer.
Take care.
Sq.
  • #532
  • May 4, 2010 6:09am May 4, 2010 6:09am
Quoting mer071898
Some bad news just came in this morning guys regarding a family member and I will be out of the loop for a few days. I will not be posting any results for the next few days but I will try and catch up when I get back, thanks for your patience. I will have my laptop with me so I might pop in to check on things.
Sorry in reading this also. Take care mate.
  • #533
  • May 4, 2010 11:28am May 4, 2010 11:28am
Take care Mer, God will always be with you. Immanuel..
  • #534
  • May 4, 2010 11:29am May 4, 2010 11:29am
Quoting SteveHopwood
I am converting the robot to be a single trading bot. This way, traders will be more easily able to customise its settings and use in light of their own personal preferences.
...

Hi Steve;

Having a single-pair bot is a good idea, indeed!
It makes it simpler to use for everyone, especially when you want different settings for different pairs.

I'd like to submit a request for the EA, that came from Danel01 (he cannot PM you yet), and lead to my scriptV3 with its "CloseHalfTradeAtHalfTP" new input.

Is it possible to add that kind of optional behaviour in the EA ?
I think you have it already implemented in the BS-10-a-day bot...

That would be a plus...

Sq.
  • #535
  • May 4, 2010 3:45pm May 4, 2010 3:45pm
Quoting squalou
Hi Steve;

Having a single-pair bot is a good idea, indeed!
It makes it simpler to use for everyone, especially when you want different settings for different pairs.

I'd like to submit a request for the EA, that came from Danel01 (he cannot PM you yet), and lead to my scriptV3 with its "CloseHalfTradeAtHalfTP" new input.

Is it possible to add that kind of optional behaviour in the EA ?
I think you have it already implemented in the BS-10-a-day bot...

That would be a plus...

Sq.
Will do.

  • #536
  • Edited 6:56pm May 4, 2010 5:42pm | Edited 6:56pm
Hokay guys, this one is for the coders and testers here. It must not, not, not, not, be put on any live accounts - it isn't even going on mine and I coded it.

The multi-pair stuff is gone. The robot uses the figures provided by the fantastic LondonBreakoutV8 to calculate the trades etc. You need the indi running; it and the robot can go on the same chart, or they can go on separate charts for readability.

There are half-close, oco, max trades and max loosing trades features; play with them to see what works. I will squish bugs as they arise.

Coders, I have not actually removed any of the original code, merely adapting it and commenting out code that is no longer wanted. This makes it even more messy to read, but means I can backtrack easily if needed.

Attached File(s)
File Type: mq4 Steve Hopwood's London session breakout auto-trading robot.mq4   26 KB | 422 downloads
  • #537
  • May 4, 2010 6:59pm May 4, 2010 6:59pm
Hi guys

for those trading this manually I attach a script which is deleting ALL pending orders as soon as you drag it on a chart.
I goes in the experts/scripts folder.
Specially for those trading 10 pairs and having 8-12 pending orders open which are not needed anymore.

Hope that helps...
Attached File(s)
File Type: mq4 Delete all Pending Orders.mq4   1 KB | 413 downloads
File Type: ex4 Delete all Pending Orders.ex4   1 KB | 351 downloads
"The only successful substitute for brains is silence."
  • #538
  • Edited 2:04am May 5, 2010 1:56am | Edited 2:04am
Steve,

a great THANK YOU for this light-speed release of the bot!
It will definitely undergo "deep inspection" here

DxTrade, thanks for that script, it will help a lot indeed...
The only thing is that it deletes ALL pending orders on all pairs...
I have a similar one myself which only applies on the chart you drag it to, which will not cancel orders still pending on other pairs.
[edit:]
the line of code i have in extra compared to yours:
Inserted Code
     if (OrderSymbol()!=Symbol()) continue; // delete orders on current chart only
[/edit]
My suggestion:
It would be good to have a "CancelCurrentPairOnly" true/false option perhaps.

Ideally a "KeepDualPendingOrders" option (or whatever good name you come up with) to keep both pending orders on the pairs that have not yet triggered any of the two legs (=still have both buystop+sellstop orders pending).

Just a thought.

Sq.
  • #539
  • May 5, 2010 2:31am May 5, 2010 2:31am
Hi,
Have we got a time of day for cancelling pending trades?
  • #540
  • May 5, 2010 3:17am May 5, 2010 3:17am
There were some bugs in the one-cancels-the-other code which are squished in this version. You will not have noticed them if you have OneCancelsTheOther turned off.

The half-close and move to breakeven appears to be working ok.

Attached File(s)
File Type: mq4 Steve Hopwood's London session breakout auto-trading robot.mq4   26 KB | 427 downloads
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