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Another simple system

  • #421
  • Jun 23, 2010 11:31pm Jun 23, 2010 11:31pm
also if somebody can make a simple indicator that will list bull or bear against the timeframes chosen. if i chose H1, H4, D1 , it should list bull/bear for each of these in a tabular form , so that if all of them are bulls, i will go long and vice-versa

we can also take more than one pair and show it in a table.

when all are alligning, then if a pop-up comes up thats nice too !!!
  • #422
  • Edited 2:32am Jun 24, 2010 2:17am | Edited 2:32am
Hello ES Trader and others,

I've started reading this thread. ES, thanks for sharing this system. It looks nice.

If I am not wrong, current candle (at close) could give a sell signal.

Question: the period you use for the bulls and bears indicator is 14, while default is 13. Why is that? If the system works, it doesn't really matter, but I asked myself.
  • #423
  • Jun 24, 2010 6:39am Jun 24, 2010 6:39am
Quoting ES Trader
There has been no trade so far on EA. Any one has had luck with EA?
Still no luck with EA as well for me... help, using FxCast, 5 digit
  • #424
  • Jun 24, 2010 7:49am Jun 24, 2010 7:49am
Quoting roundrock
also if somebody can make a simple indicator that will list bull or bear against the timeframes chosen. if i chose H1, H4, D1 , it should list bull/bear for each of these in a tabular form , so that if all of them are bulls, i will go long and vice-versa

we can also take more than one pair and show it in a table.

when all are alligning, then if a pop-up comes up thats nice too !!!
That has already been written by fokusnik.
  • #425
  • Jun 24, 2010 7:58am Jun 24, 2010 7:58am
There seems to be a lot of confusion over using the EA and not working on certain brokers...5 digit mainly.

We know that TraderForexFx has it working on FXDD Malta (4 digit). We also know that I have it working on Alpari UK (5 digit) and that I included a set file that i used. Also on 5 digit all I did was add an extra 0 to the pip parameters.

As i don't use the other brokers that people are saying they cannot get it working on I don't know the issue (could be symbol differences etc).

TraderForexFX has suggested that you use one of the brokers that we know works in demo. Not sure that you should be trading this live yet without more forward testing. So download one of the brokers... load it up... use default set file on 4 digit...use my set file on 5 digit and see if it works.

I was asked to migrate it to 5 digit broker support but i do not mod or create trading EAs. The thought that someone could lose money based on the fact that i missed a minor coding point would worry me too much.

There are however coders who would be willing to do this. Ask TraderForexFx for his permission to post it in the Platform tech forum and ask for someone to do it.
  • #426
  • Jun 24, 2010 8:40am Jun 24, 2010 8:40am
Attached is a detailed statement from the last three days.

The EA had a gross profit of $4284 and a gross loss of $4180 for a net profit of $103.

Hmmm....seem bad...well let's see.

Well $3020 or 72% of all losses are from GBPJPY. perhaps that pair is too volatile for a system such as this. In fact it only had one win on GBPJPY for $142.

If I take out all GBPJPY trades then I get $4142 gross profit and a gross loss of $1156 for a net profit of $2986 or a profit factor of 3.58.

Note that i let these trades run a while. i have to look at a profit taking scenario as well.

Ignore the equity curve. For some reason Alpari thinks there is $17000 in the account but yet the balance only shows $5608
Attached File(s)
File Type: pdf Statement_.pdf   59 KB | 472 downloads
  • #427
  • Jun 24, 2010 9:22am Jun 24, 2010 9:22am
Quoting flyer415
Attached is a detailed statement from the last three days.

The EA had a gross profit of $4284 and a gross loss of $4180 for a net profit of $103.

Hmmm....seem bad...well let's see.

Well $3020 or 72% of all losses are from GBPJPY. perhaps that pair is too volatile for a system such as this. In fact it only had one win on GBPJPY for $142.

If I take out all GBPJPY trades then I get $4142 gross profit and a gross loss of $1156 for a net profit of $2986 or a profit factor of 3.58.

Note that i let these trades run a while. i have to look at...
thanks for the info...which time frame are you using the EA on?

I can't get the EA to trade yet. Do I need to load any of the indicators, like the 4 tf or will it work just loading the EA file itself? Do I need to turn off all the other timeframes listed and just keep on the t/f I want to trade with?


thanks
jacob
  • #428
  • Jun 24, 2010 9:27am Jun 24, 2010 9:27am
Quoting losingtrades
thanks for the info...which time frame are you using the EA on?

I can't get the EA to trade yet. Do I need to load any of the indicators, like the 4 tf or will it work just loading the EA file itself? Do I need to turn off all the other timeframes listed and just keep on the t/f I want to trade with?


thanks
jacob



i see the problem I think...it is reading the spread at 27, not 2.7. Not sure how to fix...I check the inputs and can't find it. using fxcm uk...ecn...problem maybe with that?
  • #429
  • Jun 24, 2010 9:31am Jun 24, 2010 9:31am
Quoting losingtrades
i see the problem I think...it is reading the spread at 27, not 2.7. Not sure how to fix...I check the inputs and can't find it. using fxcm uk...ecn...problem maybe with that?

That is correct but that is why I have the parameter maximum_spread == 50.

It is really 5 but the EA will work with it set at 50.
  • #430
  • Jun 24, 2010 9:38am Jun 24, 2010 9:38am
Quoting flyer415
That is correct but that is why I have the parameter maximum_spread == 50.

It is really 5 but the EA will work with it set at 50.


will make the change...thanks
  • #431
  • Jun 24, 2010 9:42am Jun 24, 2010 9:42am
Quoting losingtrades
will make the change...thanks


3 seconds after changing he spread to 5, it opened a trade...the EA must have been chomping at the bit to open one.

lost first trade...forget to add a zero to the SL and TP values...oops.
  • #432
  • Jun 24, 2010 11:28am Jun 24, 2010 11:28am
Hi everyone,

On background, I've position traded and done some day trading in the equity market for years and have decided to learn forex trading. I've been doing a LOT of studying over the last few months as well as traded on a demo account.

Out of every method and system I've traded, THIS one has been the easiest to learn and implement. (I think one needs a PhD in Mathematics to figure out some of the other systems I've seen! LOL).

Thanks for the post. I appreciate seeing a system that I can understand.
  • #433
  • Jun 24, 2010 12:32pm Jun 24, 2010 12:32pm
Quoting Fokusnik
flyer415, thank you so very much!

But I'm afraid only the first version of your indicator is perfect. I mean 4BARS-MTF-BBH with arrow.mq4

The second version doesn't show some of the good entrys on M-1, and the third version doesn't show arrows on the smaller timeframes from M-1 to M-30, it shows arrows on H-1 and bigger frames. I tested GBPUSD.

So I added sound to the first version, it is impossible to test now, but I think I did it right, we'll see on Monday.

hi Fokusnik,

thanks for the indi. i can see the arrows now. where should i place my SL, TP ? If i place this indi on H1 Chart, does it look into H1, H4, D1 for allignment ?

alo would it be posible to give popup alert ?
  • #434
  • Jun 24, 2010 1:34pm Jun 24, 2010 1:34pm
Quoting tangofool
Hi everyone,

On background, I've position traded and done some day trading in the equity market for years and have decided to learn forex trading. I've been doing a LOT of studying over the last few months as well as traded on a demo account.

Out of every method and system I've traded, THIS one has been the easiest to learn and implement. (I think one needs a PhD in Mathematics to figure out some of the other systems I've seen! LOL).

Thanks for the post. I appreciate seeing a system that I can understand.
Good to know you like the system. It is simple as mentioned in the first post.
I have been trading this system manually( Still trying to figure out EA) and doing fairly well. 4 hr chart with some breakout like Parabolic curve seem to work quite well.

I am looking someway of moving the SL automatically following Parabolic Curve. May be someone here can help.

Thanks
  • #435
  • Jun 24, 2010 4:17pm Jun 24, 2010 4:17pm
Quoting flyer415
Attached is a detailed statement from the last three days.

The EA had a gross profit of $4284 and a gross loss of $4180 for a net profit of $103.
.

The EA in its present condition is NOT ready for unattended trading. The SL, TP, whether to release the traded lot in one go or use step wise trading and so many other things need to be worked on.

These elements are not easy to establish and once "established" will never work for ever, rather they always remain an ongoing process.

As such I believe that there can never be a "set and forget" EA.

I have a couple of setups on 4Hr timeframe running unattended on 9 pairs (25K accounts).

The one started on 18th of the month is sitting at $26K and one started on 22nd June is sitting at $27K. I shut down two setups based on 1Hr which were constantly running at a loss.

Both the above 4hr setups had peaked above 28.5K

Running such setups constantly unattended will not give us any conclusive decision.

Flyer415 reported great profits when he used the EA on several pairs simultaneously on a 4Hr setup. I think that right after he reported this performance, there were moves that probably wiped out the gains. Am I correct flyer? I say this beause that is what happened to my setup which was sitting on a 10% gain. This is bound to happen. Moves often reverse completely and if you let a 4Hr setup close by itself, you are bound to give up most of your gains.

I also observed huge profits using the 4Hr setup and that is when I suggested this "game". I ran the two suggested setups. Both the setups are presently in the negative. HOWEVER, one of the setup (Use_4Hr_close = false) at its peak was at $27,100 (plus 8%??). The other one (use_4hr_close = true) at its peak was at $25,750 (plus 3%).



WHAT I PROPOSE:
If you want to use this HELPER EA, I propose that

Establish that the EA:
is taking trades as per setup parameters
is releasing trades as per setup parameters
all the other parameters are working as desired

Use the strategy tester and determine the best parameters for each of the pairs that you may want to trade. No need to go beyond six months for these tests.

Using the best parameters from above, demo trade all the pairs as a basket.

While deciding the lot size, use appropriate money management concepts, taking into consideration the possible maximum number of trades that may be happening at the same time.

Demo trade the above plan (or any other plan that you wish to test) for as long as you need to before being confident about it, and only then PERHAPS consider going live.


TF
  • #436
  • Jun 24, 2010 4:31pm Jun 24, 2010 4:31pm
Quoting TradeForexFx
.

The EA in its present condition is NOT ready for unattended trading. The SL, TP, whether to release the traded lot in one go or use step wise trading and so many other things need to be worked on.


WHAT I PROPOSE:
If you want to use this HELPER EA, I propose that

Establish that the EA:...

TF,

I think that is a great plan. very methodical. I did allow my trades to continue to see if they would close out. Only the losses closed out.

I think that I will also look at seeing if I can use Steve's EA for profit taking. Will have to put it on a separate chart and tell it to manage all trades as a basket for profit taking. It may create conflicts with your EA but can only try.

I think the idea of a basket of trades is good but it could create large drawdowns. If we can use Steve's EA to manage once the trade is executed and not use your EAs management code then we could use a global drawdown number (say 2%) and a global profit number (say 4%) and have all trades close at those numbers.

Again it may not work.
  • #437
  • Jun 24, 2010 4:33pm Jun 24, 2010 4:33pm
Quoting ES Trader
Good to know you like the system. It is simple as mentioned in the first post.
I have been trading this system manually( Still trying to figure out EA)

Thanks
Hi ES

You need to ensure that you are adding extra "0" to all the parameters that has anything to do with pips.

Maximum_Gap
Maximum_Spread
MinPipsMargin (leave this to "0")
ImitialHardstoploss
InitialTakeProfit
slippage
First_Close_TP
Second_Close_TP
Third_Close_Tp
StealthStopLoss
MoveStopWhenProfit
MoveStoptoProditOf
StopWhenProfit
SlippageforAbove
MoveStopBy

and anything else that I might have missed.

Once again, also suggest that you try out on FXDD just to see if it works for you on FXDD. If it doesn't then there may be other issues.

TF
  • #438
  • Jun 24, 2010 5:56pm Jun 24, 2010 5:56pm
Quoting TradeForexFx
If you have or can find an indicator that shows the highest and lowest Account Equity during the day, you will not need to keep awake to know what happened while you were sleeping.

If someone has such an indi, please post it here.

Thanks

TF
Possibly a useful indi for the purpose
Attached File(s)
File Type: mq4 AnalyzeYourAccount.mq4   13 KB | 389 downloads
  • #439
  • Jun 24, 2010 6:51pm Jun 24, 2010 6:51pm
Quoting TradeForexFx
Hi ES

You need to ensure that you are adding extra "0" to all the parameters that has anything to do with pips.

Maximum_Gap
Maximum_Spread
MinPipsMargin (leave this to "0")
ImitialHardstoploss
InitialTakeProfit
slippage
First_Close_TP
Second_Close_TP
Third_Close_Tp
StealthStopLoss
MoveStopWhenProfit
MoveStoptoProditOf
StopWhenProfit
SlippageforAbove
MoveStopBy

and anything else that I might have missed.

Once again, also suggest that you try out on FXDD just to see if it works for you on FXDD. If it doesn't then there may be other issues.

TF...
Thanks TF.
I will try it out on Fxdd . I have been busy trading this system Manually on 4 hr chart.
Thanks for all your input.
  • #440
  • Jun 24, 2010 8:58pm Jun 24, 2010 8:58pm
Quoting roundrock
hi Fokusnik,

thanks for the indi. i can see the arrows now. where should i place my SL, TP ? If i place this indi on H1 Chart, does it look into H1, H4, D1 for allignment ?

alo would it be posible to give popup alert ?
Hi, roundrock!

I'm not a professional programmer, I can't add a popup alert. If somebody can - go ahead, guys!

If you place MTF indicator on H-1, it will take all the data from H-1, H-4, D-1 and W-1. When you are on H-1 and see that all four dots aligned, that means that H-1, H-4, D-1 and W-1 aligned and it's gonna be a very good entry. But even two dots alignment could be a pretty good entry.

I trade GBPJPY, EURGPY and GBPUSD on H-1, I use TP 100 and SL 60. But TP and SL depend on the pair, the timeframe and your MM.
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