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HA T3-1 System

  • #1,241
  • May 11, 2010 6:40am May 11, 2010 6:40am
Guys,

Look at the pic, you would know what I mean. 280+ pips since morning but how do I lock them ?

What methods if any have you guys been using. I know Trailing SL is one but that cannot be the answer to protecting your account equity which is a combined sum of all pair movements and not just one. This is the second time in the day I have managed to see them go up by 250+ pips and it is quiet possible in the next few hours it might all go below 100+ pips again.

Can we have a basket hedging order when the equity falls to protect it or anything like wise. Come up with your thoughts guys. I would hate to loose this amount and I am too greedy to book profits at this point. No psychology lectures please.
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  • #1,242
  • May 11, 2010 6:53am May 11, 2010 6:53am
Quoting onefineday
Guys,

Look at the pic, you would know what I mean. 280+ pips since morning but how do I lock them ?

What methods if any have you guys been using. I know Trailing SL is one but that cannot be the answer to protecting your account equity which is a combined sum of all pair movements and not just one. This is the second time in the day I have managed to see them go up by 250+ pips and it is quiet possible in the next few hours it might all go below 100+ pips again.

Can we have a basket hedging order when the equity falls to protect it or anything...
Hello
I m not an experienced trader im trading for about 1 years
but wath i do is that i open of each pair tow postions when i get a some of pips i close one postion and let the other one run i may set the sl above the previous high on the 30M chart.

TONYS RULL FOR THE STOPLOSSE AND PROTECT PROFIT IS TO MOVE THE SL TO 3 PRIVIUS BAR HIGH VOOR LONG OR 3 PRIVIOS BAR LOW ON THE 4H CHART .

If you watch the video wath tony made at the begining of this thread in that video he explain where to place sl .

Thanks.

Greet you,

Yoenes
  • #1,243
  • May 11, 2010 7:41am May 11, 2010 7:41am
Quoting onefineday
Guys,

Look at the pic, you would know what I mean. 280+ pips since morning but how do I lock them ?

What methods if any have you guys been using. I know Trailing SL is one but that cannot be the answer to protecting your account equity which is a combined sum of all pair movements and not just one. This is the second time in the day I have managed to see them go up by 250+ pips and it is quiet possible in the next few hours it might all go below 100+ pips again.

Can we have a basket hedging order when the equity falls to protect it or anything...
Onefineday,

I personally use the setting at the top of the ea as follows:

1. Instant Trailing Stop of 75 PIPS. This sets the stop the moment there is movement in the pair after entry and will follow the gains PIP for PIP as I gain.

2. BreakEven set to 40PIPs + 10 profit Lock (So, if the pair moves 40 Pips, BE+10PIPs is where the stop Jumps to)


There are some features I have not used in Steve Hopwoods money management EA but, it seems to me the Basket Jumping Stop or the Basket Trailing Stop might solve your problem.

Open the Properties in Steve hopwoods EA and scroll down towards the bottom of the settings. You will find in the "Basket trade settings" these two label entries:

1. Basket Jumping Stop
2. Basket Trailing Stop

Jumping Stops should allow you to set a fix $ amount that if the basket moves say 100$ into profit (or 50 PIPs), the the stop moves in one "Jump" to lock it in.

Basket Trailing Stops should allow you to set a fix $ amount that when the basket moves each $100 into profit, the the stop moves a set percentage of that $100 (say $75) in parallel to lock it in.

There are other Money Management EA on the forums but, Steve's is the most widely used and most consistent with the broadest feature set.

Just my approach; I hope this helps...

p.s. I would like to see an exact mimicking of TonyB's trailing features using

1. Original entry SL (default 30 PIPs but, adjustable)
2. Jumping Stop to BE at a set Profit (similar to Steve H. BE features)
3. 3 Candle/bar trailing stop from that point on.
4. New add-on entries would use the lesser of Default SL or 3 Candle/Bar TS
5. Add-on entries would sync with basket SL of 3 Candles once original SL is surpassed

What do you think?
  • #1,244
  • May 11, 2010 7:55am May 11, 2010 7:55am
HI

I think for sell the AO should be below zero line and in red color in 4h period along with along with other conditions which we already know, that will give a very powerful sell signal , If you see Tony video , he says it should be below zero and red in color.


Please update the scanner if others agree with the logic the way I Interpret
  • #1,245
  • May 11, 2010 8:49am May 11, 2010 8:49am
Quoting unimak
HI

I think for sell the AO should be below zero line and in red color in 4h period along with along with other conditions which we already know, that will give a very powerful sell signal , If you see Tony video , he says it should be below zero and red in color.


Please update the scanner if others agree with the logic the way I Interpret
Hmm.. as per my understanding of this system it should just be below the 0 line. Others please come in ? So that if this is the case we can go ahead and update the scanner.
  • #1,246
  • May 11, 2010 8:59am May 11, 2010 8:59am
Quoting rdwatkins
Onefineday,

I personally use the setting at the top of the ea as follows:

1. Instant Trailing Stop of 75 PIPS. This sets the stop the moment there is movement in the pair after entry and will follow the gains PIP for PIP as I gain.

2. BreakEven set to 40PIPs + 10 profit Lock (So, if the pair moves 40 Pips, BE+10PIPs is where the stop Jumps to)


There are some features I have not used in Steve Hopwoods money management EA but, it seems to me the Basket Jumping Stop or the Basket Trailing Stop might solve your problem.

Open the Properties in...
Thanks for this, it would certainly help but with this system this is one thing which I thing is a real pain. Check the scren shot you would know what I mean from almost +300 to -50 thats almost 350 pips gone in under 2 hours

As far as these features are concerned give me a week or two. I am out for vacation next week and this week I am pretty tied up with other setups. These sound like a fair help to any trader will build them in ASAP.

1. Original entry SL (default 30 PIPs but, adjustable)
Got this one but if you would be opening an order manually you would decide on the best SL yourself. Rite ? If the system opens the order I can make it have a default SL of 30 pips. Moreover somewhere in the thread Tony has mentioned that he keeps an SL of 30 pips bcoz he opens orders when the markets hv volume Lon, EU, US open/close. So this ways the direction is confirmed and 30 pips SL is enough. But if you are opening orders without these time frames in mind then even an SL of 100 pip on the 4H bars is not enough. What say ?

2. Jumping Stop to BE at a set Profit (similar to Steve H. BE features)
Done deal, consider this implemented.

3. 3 Candle/bar trailing stop from that point on.
Done deal, consider this implemented.

4. New add-on entries would use the lesser of Default SL or 3 Candle/Bar TS
Done deal, consider this implemented.

5. Add-on entries would sync with basket SL of 3 Candles once original SL is surpassed
Can you explain this to me a lil' bit more.

Also, just an FYI for everyone. I think there is some mess up in the codes for the 30M Alerts. FxDrive and I are working on it and we will update the EA as soon as it is fixed. Currently I have running for testing on my VPS.

OFD
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  • #1,247
  • May 11, 2010 9:47am May 11, 2010 9:47am
onefineday let us not loose track, let us first fix the scanner and have a stable version then we will build the EA if need be .

for the scanner what is lacking is

correct interpretation of 4h Signal as per tony

For Sell

HA is Red
AO is below zero and red
Trend Lord bar is full if blue or red full with a downward slope is also ok

30 Min

HA is Red in line with 4h
Wlnx is Red

Let us get this one in place at first and make it scan all the 28 pairs which it is doing and generate confirmed buy or sell signal

Let the signal generated be less but whatever is generated stand rock solid.

As regards SL

The rule is 30 pips plus the spread of the pair
so the scanner has to calculate and can suggest the SL for the given pair

once a person enters the trade based on confirmed signal , all he has to do is put the SL suggested by the scanner, as the price moves he can trail SL to lock in profit,

Here for trailing you can use Tony Rule that is to put the SL at candle number 2 if it is less than 3O pips plus spread

Let us get these in place and do some testing and then let us move ahead ,

doing everything in one go will only screw things and bring us back to square one.

Incidently I did demo trade in the morning Asian session and locked in lot of profits with a .2 lot , I made approx 800 usd but by the european session , things went the other way so stopped trading . I did lock in the profits with trail sl once i saw 30 usd on board

Regards

Unimak
  • #1,248
  • May 11, 2010 10:04am May 11, 2010 10:04am
Quoting onefineday
Thanks for this, it would certainly help but with this system this is one thing which I thing is a real pain. Check the scren shot you would know what I mean from almost +300 to -50 thats almost 350 pips gone in under 2 hours

As far as these features are concerned give me a week or two. I am out for vacation next week and this week I am pretty tied up with other setups. These sound like a fair help to any trader will build them in ASAP.

1. Original entry SL (default 30 PIPs but, adjustable)
[b]Got this one but if you would be opening...
OFD,

I agree completely with unimak. The core of the scanner and the rules both basic and optional should be agreed to as a scope commitment first. The items I suggested I would consider Money Management and all of us should be able to perform these manually or with the aid of the Steve Hopewood's EA.

Secondly, it is understood that you are doing this graciously on your own time and I for one very much appreciate your efforts regardless of the time frame in which it is delivered.

If you and FxDrive need anything in the form of assistance (non-programming assistance) feel free to task it out to the rest us so you can focus on core issues.
  • #1,249
  • May 11, 2010 10:43am May 11, 2010 10:43am
Quoting unimak
onefineday let us not loose track, let us first fix the scanner and have a stable version then we will build the EA if need be .

for the scanner what is lacking is

correct interpretation of 4h...
Absolutely got your point, I also think the signals are too much. And trades have turned against me too. From the point of making 300+ pips I am down to -153 pips (Booked) and -48pips (Open) so yeah trailing SL is absolutely imperative.

Will get on it straight away and fix the scanner for 30M (with FxDrive's Help) and 4H (with the recommendations you have suggested).

Should be ready by a day or two or even sooner, lets see.
  • #1,250
  • May 11, 2010 10:45am May 11, 2010 10:45am
Quoting rdwatkins
OFD,

I agree completely with unimak. The core of the scanner and the rules both basic and optional should be agreed to as a scope commitment first. The items I suggested I would consider Money Management and all of us should be able to perform these manually or with the aid of the Steve Hopewood's EA.

Secondly, it is understood that you are doing this graciously on your...
Done deal. Hey would you be able to help with the documentation part? I can send you the word doc if you agree. Somehow I just hate the documentation part and it takes up a lot of time. Moreover you can make it much better with images and all, that is only if you have the time and agree to take on this task.

Will send it to you on your email, just let me know.

Best,
OFD
  • #1,251
  • May 11, 2010 10:53am May 11, 2010 10:53am
Quoting onefineday
5. Add-on entries would sync with basket SL of 3 Candles once original SL is surpassed
Can you explain this to me a lil' bit more.

OFD

Lets assume you get a signal that a fresh short signal has posted on the eurjpy.

i.e. the your Dashboard posted this signals:

(EURJPY) = SHORT SIGNAL CONFIRMED<----------(0 BARS BACK)

You executed a SELL at 118.00(the current market price). This would be termed the Original Entry for the sake of our discussion. You placed a SL at 30 PIPs or in other words at 118.30. You set a 3 candle trailing stop to follow your trade and move closer to break even as the market gives you positive PIPs. Lets say that three candles back high is 119.00. This trailing stop is larger than the 30 PIP SL you set so it has no effect at the moment.

Two and half hours later you receive an Addon signal on the Alert Screen as follows:

HA SELL: EURJPY - 30 at 117.25 - (Timestamp = orignal entry + 2.5 hours)

You executed a SELL at 117.25. This would be termed the Addon Entry #1 for the sake of our discussion. You placed a SL at 30 PIPs or in other words at 117.55. The third candle back high at this point is at 117.75 so it has no effect on this trade but the Original Entry is now locked in 118.00 - 117.75 = 25PIPs profit.

Two more hours pass and the trade is at 116.75 with the 3rd candle back on the Original Entry is now 116.25 and less than the Addon Entry #1 so that naturally it now will adjust to the same level as the Original Entry at the close of the trailing candle due in fact because it is now 4 Candles from its entry point.

The Sync is not a programmatic function rather a natural outcome of time progression and all entries using a secondary three candle stop loss that eventually over-runs the latest Addon entry static SL.

Does this make sense?
  • #1,252
  • May 11, 2010 10:55am May 11, 2010 10:55am
Quoting onefineday
Done deal. Hey would you be able to help with the documentation part? I can send you the word doc if you agree. Somehow I just hate the documentation part and it takes up a lot of time. Moreover you can make it much better with images and all, that is only if you have the time and agree to take on this task.

Will send it to you on your email, just let me know.

Best,
OFD

Send over what you have and any explanation as to what your vision is for the end product.
  • #1,253
  • May 11, 2010 11:12am May 11, 2010 11:12am
1. Original entry SL (default 30 PIPs but, adjustable)
Got this one but if you would be opening an order manually you would decide on the best SL yourself. Rite ? If the system opens the order I can make it have a default SL of 30 pips. Moreover somewhere in the thread Tony has mentioned that he keeps an SL of 30 pips bcoz he opens orders when the markets hv volume Lon, EU, US open/close. So this ways the direction is confirmed and 30 pips SL is enough. But if you are opening orders without these time frames in mind then even an SL of 100 pip on the 4H bars is not enough. What say ?

OFD[/quote]

I can only say how I manage my stops. I have found it far easier and more consistent to allow and EA (Steve Hopewoods) to add a Standard SL, TS and any other criteria to a simple entry order that I execute manually. If it needs adjustment, I review my trades once I see some movement to evaluate that it is following my expectations. If not I reduce risk or admit I made a mistake and close it based on changing conditions. I am learning to cut my losses and let runner go based on early indications but, I need the safety net of having standards apply to all entries.

BTW, the time frame issue is addressed by the fact that I correlate my trades to ADR (average daily ranges) and multiply that by some % less than 100 to give plenty of breathing room.

I am also experimenting with micro retrace entry points (micro retrace is a new term I just invented, lol). I have reviewing the following thread on EMAs and the role they play in the traditional MACD indicators. http://www.forexfactory.com/showthread.php?t=234733 . In particular using a Tick based indicator to find/compare with larger trends and use as SR for entry point and price action determination. http://www.forexfactory.com/showpost...7&postcount=41. The TickData_Averaged_6.mq4
indicator helps me confirm directional movement in alignment with TonyB's 30 minute signals. To me the BMI - MacD Magic Monster concept is not far off from what we are working on here.

Hope this answers your question.

RD
  • #1,254
  • May 11, 2010 11:24am May 11, 2010 11:24am
Quoting rdwatkins
Lets assume you get a signal that a fresh short signal has posted on the eurjpy.

i.e. the your Dashboard posted this signals:

(EURJPY)...
Yes, kind off. Will add this to the list.
  • #1,255
  • May 11, 2010 11:24am May 11, 2010 11:24am
Quoting rdwatkins
Send over what you have and any explanation as to what your vision is for the end product.
Great, please check your email.
  • #1,256
  • May 11, 2010 11:26am May 11, 2010 11:26am
Quoting rdwatkins
1. Original entry SL (default 30 PIPs but, adjustable)
Got this one but if you would be opening an order manually you would decide on the best SL yourself. Rite ? If the system opens the order I can make it have a default SL of 30 pips. Moreover somewhere in the thread Tony has mentioned that he keeps an SL of 30 pips bcoz he opens orders when the markets hv volume Lon, EU, US open/close. So this ways the direction is confirmed and 30 pips SL is enough. But if you are opening orders without these time frames in mind then even an SL of 100...
I can only say how I manage my stops. I have found it far easier and more consistent to allow and EA (Steve Hopewoods) to add a Standard SL, TS and any other criteria to a simple entry order that I execute manually. If it needs adjustment, I review my trades once I see some movement to evaluate that it is following my expectations. If not I reduce risk or admit I made a mistake and close it based on changing conditions. I am learning to cut my losses and let runner go based on early indications but, I need the safety net of having standards apply to all entries.

BTW, the time frame issue is addressed by the fact that I correlate my trades to ADR (average daily ranges) and multiply that by some % less than 100 to give plenty of breathing room.

I am also experimenting with micro retrace entry points (micro retrace is a new term I just invented, lol). I have reviewing the following thread on EMAs and the role they play in the traditional MACD indicators. http://www.forexfactory.com/showthread.php?t=234733 . In particular using a Tick based indicator to find/compare with larger trends and use as SR for entry point and price action determination. http://www.forexfactory.com/showpost...7&postcount=41. The TickData_Averaged_6.mq4
indicator helps me confirm directional movement in alignment with TonyB's 30 minute signals. To me the BMI - MacD Magic Monster concept is not far off from what we are working on here.

Hope this answers your question.

RD[/quote]

kool this sounds like a good to-do but after experimenting a lot Will investigate later on with ease. Thanks for the inputs. Seems like we should see some more action on this thread picking up.
  • #1,257
  • May 12, 2010 12:28am May 12, 2010 12:28am
OFD Money Management and Trail SL and SL can be taken care of later, first let us get the logic 100 right and see that we get winning trades.

once we achieve this locking in profits is easy step.

Regards

Unimak
  • #1,258
  • May 12, 2010 12:51am May 12, 2010 12:51am
Quoting unimak
OFD Money Management and Trail SL and SL can be taken care of later, first let us get the logic 100 right and see that we get winning trades.

once we achieve this locking in profits is easy step.

Regards

Unimak
working on it, will update by the EOD.
  • #1,259
  • May 12, 2010 2:03pm May 12, 2010 2:03pm
Quoting onefineday
working on it, will update by the EOD.
hey guys i am still working on it, some urgent work came up so couldn't sit with it. will update it here when its done.
  • #1,260
  • May 12, 2010 2:16pm May 12, 2010 2:16pm
Quoting onefineday
hey guys i am still working on it, some urgent work came up so couldn't sit with it. will update it here when its done.
Dont wory i m still testing it.

How can you reduce the scan it scans to many times?

Thanks

Greet you,
Yoenes
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