DislikedMBTrading does not allow stop orders (pending) in both directions. You can obviously place a stop order in 1 direction (say, buy). But, when you try to open a stop order in the other direction (sell) at the same time, you get a "Too many orders" error.Ignored
- #24
- Edited 2:17pm Mar 26, 2010 10:35am | Edited 2:17pm
- Joined Mar 2009 | Status: Trader | 1,231 Posts
- #25
- Mar 27, 2010 9:20pm Mar 27, 2010 9:20pm
- | Joined Aug 2009 | Status: Nothing to say | 1,701 Posts
- #26
- Mar 28, 2010 4:03am Mar 28, 2010 4:03am
- Joined Oct 2005 | Status: Pip Slappa Extrordinaire | 1,013 Posts
You are in a maze of twisty little passages, all alike.
- #30
- Edited 5:49am Jun 1, 2010 5:15am | Edited 5:49am
- Joined Mar 2009 | Status: Trader | 1,231 Posts
How many levels do you get at any given break out? [...]
When do you turn your trades off?
Thats the reason I recommend demoing it for a few months until you get a feel for how it behaves and what to expect and also to see how much drawdown and profit to expect. This will give you the confidence you need for this system.
In the following screenshot you can see what I'm currently doing: It is in long mode and currently accumulated 436$ losses (~14 stops since friday) for this pyramid, it is one of the not so easy ones (because I expected a long and euro did the opposite). I will most likely close this pyramid once it crosses the green break-even mark which is currently at 1.2290.
As you can see it has trailed down the first entry this morning and with it also the break-even point. Currently I would need a total of 6 levels in total from the bottom (any bottom) to cross break even and come out with profit.
In the next screenshot you can see the profit curve of my EURUSD activities during the last few months. The red line is where I started my current long pyramid. as you can see, although 430$ might look like a big drawdown and the attempt to long euro from here might look like a hopeless thing in the first screenshot the profits *when* they come are far bigger than the drawdowns and currently it does not yet look like anything to worry about in any way:
- #32
- Edited 8:04am Jun 1, 2010 7:36am | Edited 8:04am
- Joined Mar 2009 | Status: Trader | 1,231 Posts
In the following screenshot you can see what I'm currently doing: It is in long mode and currently accumulated 436$ losses
See the attached screenshots and compare them to my previous posting, I hope this helps understanding how I use this tool:
Chart with EA:
Profit curve:
PS: There will be an update soon with some new functions, the most important one is being able to pause the pyramiding at any level (for example on friday) and resume it later. This will be done by closing all trades and reopening them all at a later time. The stoplosses of all re-opened trades will be placed in intervals of stop_distance from current price and profit and breakeven calculation will continue as seamlessly as the realtime equity curve. It will also be possible to reverse a running pyramid (pause it and then simply continue it into the other direction)! There will also be "active lines" (lines you draw that will trigger commands) for all possible commands: "start long", "start short", "start bidir", "stop" and "pause". Stay tuned to this thread!
There is a new version: 2010.6.2.1 of the snowball EA available.
If you want to compile it yourself you will also need to update to the current version of common_functions.mqh which is at the time of this writing also version 2010.6.2.1
New functionality:
[list][*]pause a running cycle at any moment and at any level, this will close all open positions and remember the current level so you can seamlessly resume it later (by simply using one of the start commands). This way you can also reverse by simply restarting into the...
Thanks again.
