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Geoff's Manual and Semi Automatic Trading Setup
- #64
- Jul 22, 2010 9:10am Jul 22, 2010 9:10am
Sasha, I just place a buy Stops and I don't see them moving down
alone with price, should orders supposed to be trailing down?
I mean if Price moving down currently, BUY STOPS should be trailed
down (modified by EA) alone with the price, I'm correct on this one? Cause I don't see
any movement.. Ohh and STOP LOSS must be modifying as well (Trailing)
Whole structure of Orders + Stop loss must move (in case of BUY) down if price start dropping,
That's how I see it..
P.S
Cable dropping but orders not moving, definitely..
What's "PendingOrderStep"...
here is the deal.
PendingOrderStep is a distance between current Bid/Ask and pending order open price, so if you have cable now at 1.52650 with 20 pips step your BUYSTOP order will be placed at the price of 1.52850 (since all the values in ea settings are by 4 digits broker, i think i forgot to mention that), and by 1.52450 for SELLSTOP.
regarding trailings - EA will have to wait 3 more candles from now to move it because it works with already formed high/low prices of previous candle. lets say you opened a BUYSTOP order now (13:45 by GMT) by 1.52850, during next hour (14 GMT) ea cannot move the order because if it will calculate high of this candle + PendingOrderStep, it could be even higher then the opened, so it passes this candle. by the next candle, 15 by GMT, it compares last high + PendingOrderStep with the order open price and if it's lower then order price, it will move it, but if market goes to long direction, of course will not. and so on. until order will stay pending, at the opening of any new candle ea will check high of previous candle + PendingOrderStep and if it's lower then order's price, it will move it down.
- #70
- Jul 22, 2010 11:33am Jul 22, 2010 11:33am
- | Commercial User | Joined Jul 2009 | 5,375 Posts
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- #71
- Jul 22, 2010 11:50am Jul 22, 2010 11:50am
Sasha, my Idea was no matter what, if I enter "Buy stop"
20 pips above (LONG for example) since we Have BUY (LONG) signal Already, just trail all of them (BUY STOP and SL) while price going down within specified (20 pips for example) distance above the current price, trail only one way of course (EVERY PIP / STEP 1)
ones price action reverse Buy Stop gets executed.. This is really important. Ones we got a signal, just trail right awat.. Idea is
to grab that BUY as low as possible (after Signal gets generated), no need to wait 3 hours.. IMHO....
only one question - is it possible to combine this technique with existing algorithm or it should be a new one, so i would have to completely change it in the ea
- #73
- Jul 22, 2010 11:57am Jul 22, 2010 11:57am
- | Commercial User | Joined Jul 2009 | 5,375 Posts
technically, it looks like a scalping method inside 1 hour bar, and could be transferred into a separate strategy (why you need smas and fractals here???)
After which, in 70% cases, price going down (against us) and then up again,
so my Idea is to grab that deep as soon as it gets reversed from the
bottom.. This way all structure (STop orders and Stop loss) moves lower
to get quicker pips, instead of waiting till it gets all the way back up there again
Or Orders can be potentially Canceled. if price never retrace back within specified range (say 100 pips)
Just an example:
Trail down (Buy Stops/Stop Loss/ modify them every pip) within 20 pips (BUY stop example),
if no retrace within 100 pips (pair keep dropping) orders closed (No Trade), wait for another signal.
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- #74
- Jul 22, 2010 12:02pm Jul 22, 2010 12:02pm
WE need SMA and Fractals ONLY because we want to get a SIGNAL based on strategy,
After which, in 70% cases, price going down (against us) and then up again,
so my Idea is to grab that deep as soon as it gets reversed from the
bottom.. This way all structure (STop orders and Stop loss) moves lower
to get quicker pips, instead of waiting till it gets all the way back up there again
i will do that, no prob, as another way to calculate the entry, but do i need to keep the current one in the ea?
- #75
- Jul 22, 2010 12:15pm Jul 22, 2010 12:15pm
- | Commercial User | Joined Jul 2009 | 5,375 Posts
so it will create an entry at any bar open after smas and fractals in consolidation or just once?
We only Need to make sure we got Signal ones, Place Stop Buy
and it will triggers whenever on any bar any time when price
reverses 20 pips, Or if never reverses withing 100 pips
(pair keeps dropping example)
then cancel all pending orders, wait for another Signal.
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- #76
- Jul 22, 2010 1:40pm Jul 22, 2010 1:40pm
You got it!
We only Need to make sure we got Signal ones, Place Stop Buy
and it will triggers whenever on any bar any time when price
reverses 20 pips, Or if never reverses withing 100 pips
(pair keeps dropping example)
then cancel all pending orders, wait for another Signal.
- #78
- Jul 22, 2010 3:06pm Jul 22, 2010 3:06pm
WE need SMA and Fractals ONLY because we want to get a SIGNAL based on strategy,
After which, in 70% cases, price going down (against us) and then up again,
so my Idea is to grab that deep as soon as it gets reversed from the
bottom.. This way all structure (STop orders and Stop loss) moves lower
to get quicker pips, instead of waiting till it gets all the way back up there again
Or Orders can be potentially Canceled. if price never retrace back within specified range (say 100 pips)
Just an example:
Trail down...