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Simple H1 GBPUSD EA

  • #3,721
  • Jun 1, 2010 4:58am Jun 1, 2010 4:58am
Quoting goldenequity
Wonderful thread. Wonderful EA.
NO questions about that, but it could be even better, if trades can

be taking manually. Won't hurt to save 30-50 pips on down moves, when

it's possible.
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  • #3,722
  • Jun 1, 2010 5:04am Jun 1, 2010 5:04am
Quoting SkyzerFX
NO questions about that, but it could be even better, if trades can

be taking manually. Won't hurt to save 30-50 pips on down moves, when

it's possible.
This subject has been covered before!

For more information on manual trading this pdf has been produced by calstock:
Simple H1 manual trade.pdf
  • #3,723
  • Jun 1, 2010 5:11am Jun 1, 2010 5:11am
Quoting geoffb65
This subject has been covered before!

For more information on manual trading this pdf has been produced by calstock:
Simple H1 manual trade.pdf
Thank you, looking into it right now.. Could you please tell

what step is for modifying Trailing Stop loss, I'd guess it's 2 pips, right?



Also important if I pull other chart for GBPUSD and place manual trades on Cable its not going to be in conflict

with the trades placed by EA on the other chart? Or I would guess EA should only managing what opens by it.
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  • #3,724
  • Jun 1, 2010 5:13am Jun 1, 2010 5:13am
Quoting SkyzerFX
Thank you, looking into it right now.. Could you please tell

what step is for modifying Trailing Stop loss, I'd guess it's 2 pips, right?

The trailing stoploss step is 1 pip!
  • #3,725
  • Jun 1, 2010 5:14am Jun 1, 2010 5:14am
Like others, had it opened a trade for me I would have panicked and bailed at the time it was about a 80 pip loss, or maybe even before. This is why (other than scalping or using an automatic break-out system) I am not successful trader, in spite of the fact I've read every book on being controlled by fear and greed in the 12+ years I've been trading, I am not a successful long term trader. Not controlling my fear of bigger losses has caused me to close trades prematurely when, HAD I LEFT IT ALONE, it would have turned profitable, and sometimes not.

I took a good hard look at Geoff's rule of 140 pip S/l when this thread first came out and my first reaction was that this went against all good MM recommendations. However - that being said, I also knew that the successful traders I've met through the years ALL went against the 'normal' advise and tried something out of the 'norm'. This should not have surprised me bearing in mind 95% of traders eventually lose, so why should one then follow their systems, advise, and use the same indicators they use and lose with?

Geoff has repeatedly said, and always with patience and kindness, that the 140 pip S/L IS needed to make this EA profitable, and that this figure was arrived at, not arbitrarily, but by necessity.

Was this a good trade to get into since some brokers opened it and some didn't? I honestly don't know. Manually I would not have traded it. Whatever the reason why it reversed itself so quickly and turned an indicated horrible, losing trade into a paying one can only be speculated on. But turn into a winning trade it did - and perhaps ONLY because it had the room to breath with that many pips as a s/l.

Geoff has repeatedly said, trust the EA, AND BE WILLING TO TAKE A MASSIVE LOSS. We need to do that, by knowing that with the high % of winning trades we'll get it back. Scary? Yes! But what with forex isn't?
  • #3,726
  • Edited 5:20am Jun 1, 2010 5:19am | Edited 5:20am
Hi,

@jiva34, can u post your mq4 file for WPP ?

tx u sir.
  • #3,727
  • Jun 1, 2010 5:21am Jun 1, 2010 5:21am
Quoting geoffb65
The trailing stoploss step is 1 pip!
Thank you.
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #3,728
  • Jun 1, 2010 5:22am Jun 1, 2010 5:22am
Quoting bee7244
I totally agree with you on that, Sky.. The entries just killing me..

But for geoff, no offense man.. You got a great EA here, just it doesnt suit me after 2 losses.. i have to gain back what i loss to activate this again on live acc, however my demo still run..
Personally, i think if you stick with the default SL of 140 pips, you will feel different now. Geoff warned of the large SL beforehand. You are free to adjust the SL or TP that suits you. However, if you do not stick with the defaults, you are not getting the results that you should expect.

So goes the same for others, you knew of the large SL and its implications. If you still choose to use with default settings and did hit SL, just accept it. Losses is part of trading, be it manual or automated. Do not make any form of (direct or indirect) complaints or criticism about this EA. Geoff is generous enough to let us benefit from his EA. Think of this: if you did not decide to use his EA, will losses occur to you? And if you did decide to use his EA, who's to blame for losing trades?

Sorry if i sound offensive. But just couldn't hold off any more seeing comments that's not fair to Geoff.

Countless pips in the pocket to all.

福 子 Victor V
  • #3,729
  • Jun 1, 2010 5:30am Jun 1, 2010 5:30am
Quoting Flamenco143
Like others, had it opened a trade for me I would have panicked and bailed at the time it was about a 80 pip loss, or maybe even before. This is why (other than scalping or using an automatic break-out system) I am not successful trader, in spite of the fact I've read every book on being controlled by fear and greed in the 12+ years I've been trading, I am not a successful long term trader. Not controlling my fear of bigger losses has caused me to close trades prematurely when, HAD I LEFT IT ALONE, it would have turned profitable, and sometimes...
Well said and thank you for taking the time and effort to say it. Much appreciated.

s
  • #3,730
  • Jun 1, 2010 5:31am Jun 1, 2010 5:31am
Quoting Flamenco143
Like others, had it opened a trade for me I would have panicked and bailed at the time it was about a 80 pip loss, or maybe even before. This is why (other than scalping or using an automatic break-out system) I am not successful trader, in spite of the fact I've read every book on being controlled by fear and greed in the 12+ years I've been trading, I am not a successful long term trader. Not controlling my fear of bigger losses has caused me to close trades prematurely when, HAD I LEFT IT ALONE, it would have turned profitable, and sometimes...
How many times I have done exactly the same!

I am in the UK so I am asleep when this EA trades, which is a good thing because
it means that I keep my hands off and let it do its thing.

It is scary at times but, so far, it has not let us down!
  • #3,731
  • Jun 1, 2010 5:33am Jun 1, 2010 5:33am
Quoting camvcvoo
Personally, i think if you stick with the default SL of 140 pips, you will feel different now. Geoff warned of the large SL beforehand. You are free to adjust the SL or TP that suits you. However, if you do not stick with the defaults, you are not getting the results that you should expect.

So goes the same for others, you knew of the large SL and its implications. If you still choose to use with default settings and did hit SL, just accept it. Losses is part of trading, be it manual or automated. Do not make any form of (direct or indirect) complaints...
Thanks to you too Victor. We need to hear that.
s
  • #3,732
  • Jun 1, 2010 5:42am Jun 1, 2010 5:42am
Quoting sharteel
Hi,

@jiva34, can u post your mq4 file for WPP ?

tx u sir.
Sure. Here you go:
Attached File(s)
File Type: ex4 DailyWoodPivot.ex4   6 KB | 259 downloads
File Type: mq4 DailyWoodPivot.mq4   5 KB | 297 downloads
  • #3,733
  • Jun 1, 2010 5:44am Jun 1, 2010 5:44am
Quote
2. Does anybody know of a good data source?
Franko

I can't promise the data I have from 2001- 2009 is accurate, because it is gathered from internet from this link.

http://alansforexblog.com/2010/02/10...rategy-tester/

He has stored the data in "megaupload".. But don't download from megaupload.. your pc can be infected with virus.. I went through it.

so if you want it, I can send theZIP file.. all is M1 data and you need to convert this to H1 data.. which is a recommended practice for backtesting..
  • #3,734
  • Edited 5:46am Jun 1, 2010 5:44am | Edited 5:46am
Hi,

@jiva34, tx u

i think too that the good way for trader is the control of fear.

In my mind, in PERIOD_H1,another good choice for the StopLoss is soptloss based on ATR.

Explanation here (safe link)

Regards,

S.T
  • #3,735
  • Jun 1, 2010 5:55am Jun 1, 2010 5:55am
Hi Geoff,
this is my first time that write on the thread, but I"ve been following it since April.
Thank you very much for this great EA. This is also my first gain with the V7a, +21 and +29 the TP1 and TP2 respectively.

I've begun study Mql4 language for a few days, but I hope my little help will be apreciated.
Excuse me for my poor english.

JJ
  • #3,736
  • Jun 1, 2010 6:03am Jun 1, 2010 6:03am
Quoting sharteel
Hi,
good way for trader is the control of fear.
Fear depends on your lot size (MM). Be down few thousand $

feels differently then just $50 - 70, trust me on that. By any means

5% per trade still high risk.. 10 bad trades and your account

gets 50% haircut. I'd guess 1% risk is somewhat appropriate.
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  • #3,737
  • Jun 1, 2010 6:05am Jun 1, 2010 6:05am
Best way is not to risk more than you can afford to lose.
Look at it as the cost of doing business.
Every business has some costs involved.
Good business means after all is said and done, costs and profits,
there is gain...
Losses and wins, gains...
No losses ever is unrealistic.
Like trying doing business but never any cost of goods sold, or business expenses.
Doesn't work like that.
Bankrupt means spending more than what is coming in.
Not good business practice.
  • #3,738
  • Jun 1, 2010 6:46am Jun 1, 2010 6:46am
Quoting jjgengis
Hi Geoff,
this is my first time that write on the thread, but I"ve been following it since April.
Thank you very much for this great EA. This is also my first gain with the V7a, +21 and +29 the TP1 and TP2 respectively.

I've begun study Mql4 language for a few days, but I hope my little help will be apreciated.
Excuse me for my poor english.

JJ
Hey, there's nothing wrong with your English, welcome aboard!

I come from Yorkshire in the North of England so my English is suspect too!
  • #3,739
  • Jun 1, 2010 7:02am Jun 1, 2010 7:02am
Hi Geoff

Well done I see your scaring people again ..

Nice bounce of the 197 MA..

Good start to the week...


  • #3,740
  • Jun 1, 2010 7:07am Jun 1, 2010 7:07am
Quoting calstock
Hi Geoff

Well done I see your scaring people again ..

Nice bounce of the 197 MA..

Good start to the week...


Yeah! I do it on purpose!
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