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  • #1,761
  • May 23, 2010 6:16am May 23, 2010 6:16am
Hi Strat / all seniors,

1 little question, I'm not quite sure the usage of "simulation mode" under the minichart V3. Any Help on its function?

Tks
City
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  • #1,762
  • May 23, 2010 9:51am May 23, 2010 9:51am
Quoting stratman
Here's a chart showing how compounding works if assuming 20 trading days in a month.

x axis is daily gain in %
y axis is month gain in %

Attachment


Why am I talking about this? ... Can you see that to increase your account by 20% in one month requires you to make +10 pips per day ie 1% per day using my risk method. (Assuming 20 trading days in a month)

If you gain 40 pips per day, you can more than double your account ... 120%.


The point being made is that increasing your daily amount by a factor of 4 (10 pips now 40 pips),...


Hi Startman,
Please, in your diary record and analyze statistical graphics results (like post 1728,1750,1758) what tool do you use ?
That's exactly what I need to monitor my transactions & equity curve (trade profit & loss).</SPAN></SPAN>
Thxs
  • #1,763
  • May 23, 2010 4:10pm May 23, 2010 4:10pm
I use myfxbook.com

I know that it works for MT4 and also oanda ie not sure whether other platforms are supported

Quoting Maneiro
Hi Startman,
Please, in your diary record and analyze statistical graphics results (like post 1728,1750,1758) what tool do you use ?
That's exactly what I need to monitor my transactions & equity curve (trade profit & loss).</SPAN></SPAN>
Thxs
  • #1,764
  • May 23, 2010 4:17pm May 23, 2010 4:17pm
When using the backtester of MT4, you typically have access to data from a single timeframe ie minicharts will not be shown for timeframes other than what you are backtesting.

The simulation mode was an idea I played around with to create the other timeframe minicharts from 'current' timeframe data. This means that you will get minicharts for the backtester timeframe or higher.

I don't use the minicharts much these days as I use the later less resource use pipware-charts.


Quoting Buildcity
Hi Strat / all seniors,

1 little question, I'm not quite sure the usage of "simulation mode" under the minichart V3. Any Help on its function?

Tks
City
  • #1,765
  • May 24, 2010 8:48am May 24, 2010 8:48am
Hi Stratman,

I use your pipware dash and other tools. With the pipware trix histogram I want to change the colors, but as soon as I reload mt4 or change the timeframe the colors turn back to their original scheme. What can I do to change that?

Thanks PB
  • #1,766
  • May 24, 2010 2:50pm May 24, 2010 2:50pm
I must have 'hard coded' the colors into the indicator. I'll take a look sometime to make them more flexible.

Quoting pbb
Hi Stratman,

I use your pipware dash and other tools. With the pipware trix histogram I want to change the colors, but as soon as I reload mt4 or change the timeframe the colors turn back to their original scheme. What can I do to change that?

Thanks PB
  • #1,767
  • May 24, 2010 2:53pm May 24, 2010 2:53pm
Quoting stratman
I must have 'hard coded' the colors into the indicator. I'll take a look sometime to make them more flexible.
Thanks, that would be great.
  • #1,768
  • May 25, 2010 3:50pm May 25, 2010 3:50pm
cost me 75 pips today. My hardfast rule was that -40 for a day and I would quit. Tossed the rule and look what I got. My trades had me up 10, up 20 (should have quit here but the trades were so "easy") then I went minus 15, minus 30, minus 45 and finally minus 75.

No more tossing rules.
Follow the money --Mark Felt (Deepthroat)
  • #1,769
  • May 25, 2010 6:38pm May 25, 2010 6:38pm
Quoting stratman
One of the things I learnt early on is to be consistent with lot sizes. I remember days trading 0.5% risk per trade. Sometimes I would see a 'sure thing' and trade 5% often resulting in a loss.

Also, if I had a string of losing trades at 0.5%, I would increase my risk to get it back ie revenge trading.

Most of us have been guilty of this


Most teach to look at risk as a percentage per trade eg if you risk 1% per trade, adjust your lot size for 1% dependent on your 10, 20, 30 pip stop (the lot size is smaller as our stop size increases)...

This is very bad MM to be honest, I have been doing this over 10 years and some days you have bars that are 1-3 pips, some days they are 70 pips on a 5min bar. So you risk 7% on one trade and .3% on the other? How is this sound at all?
Keep taking CT trades, I need more money
  • #1,770
  • May 25, 2010 9:13pm May 25, 2010 9:13pm
Thks for the teaching Strat.

Quoting stratman
When using the backtester of MT4, you typically have access to data from a single timeframe ie minicharts will not be shown for timeframes other than what you are backtesting.

The simulation mode was an idea I played around with to create the other timeframe minicharts from 'current' timeframe data. This means that you will get minicharts for the backtester timeframe or higher.

I don't use the minicharts much these days as I use the later less resource use pipware-charts.
  • #1,771
  • May 26, 2010 3:19pm May 26, 2010 3:19pm
I am presenting this theory, taken from conversation with a North American native person who is a very successful stock trader.
I can hardly call it a theory but this setup works a large percentage of the time in stocks and I have used it with great success in the Forex market.

The setup is simple, in an uptrend, after the 7th consecutive up candle, enter on the next candle if DOWN and showing to maybe going down, your call..
Reverse in a downtrend.

Can be used on all time frames however with any setup there are no guarantees.
Attached Image
  • #1,772
  • May 26, 2010 4:06pm May 26, 2010 4:06pm
I made 10 trades today, 7 wins, 3 losses, net 48 pips..
Again the DB played a big roll in my success, mainly follow the 5 min and the 1 min for entry. Lately been also following a 30 min chart with S&R lines with added fib retrace lines without the DB on chart, this combination works well for me..
Posting a screenshot of a 5 min chart from this afternoon on the NY session that had a 7 candle down setup, missed this setup..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 7 down.gif Size: 33 KB
Click to Enlarge Name: trades.gif Size: 17 KB
  • #1,773
  • May 26, 2010 4:13pm May 26, 2010 4:13pm
Thanks for posting. I'm not sure what you are trying to say though ... can you explain a bit more please.

Maybe my point wasn't very well explained? Here's another try at it ... I typically use a 10 pip stop (equals 1% risk) or other end of the previous M5 candle ... whichever is smallest. My stats (more than 100 trades) show that my average loss is 8 pips. My average win is sitting at 15 pips. My win ratio is better than 60%. Therefore, my equity grows (more than 60% increase this month).

Quoting Ryanmcd
This is very bad MM to be honest, I have been doing this over 10 years and some days you have bars that are 1-3 pips, some days they are 70 pips on a 5min bar. So you risk 7% on one trade and .3% on the other? How is this sound at all?
  • #1,774
  • May 26, 2010 4:19pm May 26, 2010 4:19pm
I had heard something similar .. maybe it was a compassfx webinar where Dean explained that trades don't typically go beyond 7 candles?

Anyway, this is the second time it has been mentioned so I best check it out. Thanks for mentioning it.

Quoting deano1292
I am presenting this theory, taken from conversation with a North American native person who is a very successful stock trader.
I can hardly call it a theory but this setup works a large percentage of the time in stocks and I have used it with great success in the Forex market.

The setup is simple, in an uptrend, after the 7th consecutive up candle, enter on the next candle if DOWN and showing to maybe going down, your call..
Reverse in a downtrend.

Can be used on all time frames however with any setup there are no guarantees.
  • #1,775
  • May 26, 2010 4:30pm May 26, 2010 4:30pm
There are a few out there, I just started tinkering with the Swiss Army EA so far just for break even management on my e/j trades.

does anyone else use it or something similar?

I really like the idea of not having to manually set stop losses, this is much easier. At the moment the only setting I have set is move to break even when 6 pips in profit. I know this is very low for that pair, but I am just experimenting and would rather break even than see a trade go negative. Got stopped out a number of times but did manage to stay in and make a decent profit on a couple of trades

Since e/j is correlated to stock markets to a certain extent, seems to me you could come up with some kind of formula to dynamically compute the best time to move stop to break even after X pips in profit, i.e. as some factor of the current VIX value. This way you give it more wiggle room when it needs it that's strictly dependent on volatility and hopefully not get stopped out too much. Thanks for any thoughts you have on this. These are all the settings:


extern bool Immediate_Activation=false; // Actions immediately occur
extern bool Time_Activation=false; // Actions occur at the specified time
extern int Time_Hour=23; // Hour to activate; used for Time_Activation
extern int Time_Minute=55; // Minute to activate; used for Time_Activation
extern int Minimum_FreeMargin=0; // Actions occur if minimum margin is reached
extern bool FreeMargin_LessThan=false; // Actions occur if free margin is less than used margin
extern string pro_cond="==== Conditions: Profit-Based ====";
// Conditions are disabled if they have been set to "0".
extern int MaxProfit_Dollar=0; // Actions occur if maximum profit (in dollars) is reached
extern int MaxProfit_Pip=0; // Actions occur if maximum profit (in pips) is reached
extern int MaxProfit_Percent=0; // Actions occur if maximum profit (in percentage) is reached
extern string loss_cond="==== Conditions: Loss-Based ====";
// Conditions are disabled if they have been set to "0".
extern int MaxLoss_Dollar=0; // Actions occur if maximum loss (in dollars) is reached
extern int MaxLoss_Pip=0; // Actions occur if maximum loss (in pips) is reached
extern int MaxLoss_Percent=0; // Actions occur if maximum loss (in percentage) is reached
extern string action="==== Actions: General ====";
// The following actions will execute when previously selected conditions are met.
extern bool CloseOrders=false; // Selected orders will be closed
extern bool HedgeActiveOrders=false; // New orders will be placed to hedge selected orders
extern string mod_action="==== Actions: Modify Orders ====";
// The following actions will modify existing orders, without closing them.
// These will not modify pending orders
extern int TakeProfit=0; // TakeProfit is set X pips from current price
extern int Stoploss=0; // Stoploss is set X pips from current price

extern bool RemoveTakeProfit=false; // TakeProfits will be removed from orders
extern bool RemoveStoploss=false; // Stoplosses will be removed from orders
extern string otype="==== Order Types: Standard ====";
// Selected actions will be executed on the following order types
extern bool Allow_All_Types=false; // If true, actions will execute on all order types;
// this will over-ride the following options
extern bool Buy_Active=false; // Actions will execute on active buy orders
extern bool Sell_Active=false; // Actions will execute on active sell orders
extern bool Buy_Stop=false; // Actions will execute on buy stop orders
extern bool Sell_Stop=false; // Actions will execute on sell stop orders
extern bool Buy_Limit=false; // Actions will execute on buy limit orders
extern bool Sell_Limit=false; // Actions will execute on sell limit orders
extern string manage="==== Stop Management ====";
// The following options may be applied at any time, regardless of conditions or order type
extern int BreakEvenAt=0; // Set Stoploss to breakeven at X pips profit
extern int BreakEvenSlide=0; // Move the breakeven point up or down by X pips
extern int TrailingStop=0; // Stoploss follows behind current price by X pips
extern bool OnlyTrailProfits=false; // Trailing Stop will only trail when order is profitable
extern string extra="==== Extra Settings ====";
extern string ExpertName="Swiss Army EA"; // Expert name: for aesthetic purposes
extern bool Disable_Comments=false; // EA will not display comments on screen
extern int Slippage=3; // Slippage on closing orders
Attached File(s)
File Type: pdf Swiss Army EA v1.51 Features.pdf   15 KB | 552 downloads
File Type: ex4 Swiss Army EA v1.51.ex4   29 KB | 414 downloads
  • #1,776
  • May 26, 2010 5:04pm May 26, 2010 5:04pm
Another interesting idea ie EJ correlated to the stock markets. Can you explain this a little more as I haven't really followed this idea before. Also, what is VIX?

Quoting Blud4oilPrgm
There are a few out there, I just started tinkering with the Swiss Army EA so far just for break even management on my e/j trades.

does anyone else use it or something similar?

I really like the idea of not having to manually set stop losses, this is much easier. At the moment the only setting I have set is move to break even when 6 pips in profit. I know this is very low for that pair, but I am just experimenting and would rather break even than see a trade go negative. Got stopped out a number of times but did manage to stay in and make a...
  • #1,777
  • May 26, 2010 6:01pm May 26, 2010 6:01pm
Because this was such a good trade I thought I'd make a video to explain it.

Attached Image (click to enlarge)
Click to Enlarge Name: 2010-05-27_1057-EJ-140-pips-FF.png Size: 15 KB


Inserted Video
  • #1,778
  • May 26, 2010 7:08pm May 26, 2010 7:08pm
Quoting stratman
Another interesting idea ie EJ correlated to the stock markets. Can you explain this a little more as I haven't really followed this idea before. Also, what is VIX?
you can use the overlay indicator attached to compare a pair to an index to visually correlation. odl has plenty of stock indeces you can compare it to.
you can also use the correlation indicator to keep your chart cleaner. most correlations seem to ebb and flow but it can be a nice little baraometer

the vix is the implied volatility of s&p 500 index options. it trades as an options contract on the cboe. the higher the value, the more fear in the market, lower values mean more stability. carry trades perform better during low volatility and worse when its high. thats why they call it the fear index.
there's probably equivalent contracts for other global indeces.

http://www.cboe.com/micro/vix/vixoptions.aspx

http://www.forexmq4.blogspot.com/ this shows you how to import vix values into metatrader, but it gets delayed quotes so its probably worthless. haven't been able to find free realtime quotes for it. I know esignal provides it with their basic stock quoting package, maybe somebody knows where we can find it free.
Attached File(s)
File Type: mq4 OverLayChart.mq4   9 KB | 440 downloads
File Type: ex4 Correlation.ex4   5 KB | 456 downloads
  • #1,779
  • May 26, 2010 7:27pm May 26, 2010 7:27pm
Thanks for the info.

Quoting Blud4oilPrgm
you can use the overlay indicator attached to compare a pair to an index to visually correlation. odl has plenty of stock indeces you can compare it to.
you can also use the correlation indicator to keep your chart cleaner. most correlations seem to ebb and flow but it can be a nice little baraometer

the vix is the implied volatility of s&p 500 index options. it trades as an options contract on the cboe. the higher the value, the more fear in the market, lower values mean more stability. carry trades perform better during low volatility and worse...
  • #1,780
  • May 26, 2010 7:29pm May 26, 2010 7:29pm
I made a video for an overview of what the dashboard is about. Something I can point people to if they want a general idea .. I get asked quite a few times what this is about

See the video here:

pipware dashboard 4.3
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