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Attachments: Steve Hopwood's Fib Target-level retracement auto-trader: compliments Simone
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Steve Hopwood's Fib Target-level retracement auto-trader: compliments Simone

  • #401
  • Jul 23, 2010 6:52am Jul 23, 2010 6:52am
Quoting peterke
Steve, I would appreciate it if you could add a partial and full TP/ SL to the MPTM based on ATR in Pips.
I define my sl and TP based on the ATR and have to manaually add it to the MPTM to set the missing SL and TP.
Done and added to post 1 in the mptm thread.

I have also made mptm adaptable to different digit quotes, so users are able to think in pips without having to multiply.

  • #402
  • Jul 23, 2010 7:02am Jul 23, 2010 7:02am
Scoobs and macman; invaluable advice. Thanks.

I shall adopt the hedge approach to death trades. Using a different trading method, I have an open EU sell that is well into negative territory and hedged.

Whilst the various trend functions I have coded continue to show a rising trend, I shall continue the hedge. If they show a range for an appreciable period of time, I shall close the hedge and be prepared to re-enter if the upward trend resumes.

I had been looking to add to the hedge if the market remained above 1.3, but I am waiting for 1.31 in light of one of scoobs' recent posts.

Mind, I am a crap trader so I suggest everyone does exactly the opposite to anyting I am doing.

  • #403
  • Jul 23, 2010 7:47am Jul 23, 2010 7:47am
Good Morning Steve,
Weekly report for the W1 Script.....It took the gas-pipe this week and took back everything it won last week and more.....
I'm going to delay the start next week until Tues NY Session and see if that will define the trend alittle better since it almost didn't get into profit at all this week.

whip
Attached Image (click to enlarge)
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  • #404
  • Jul 23, 2010 7:49am Jul 23, 2010 7:49am
Quoting hiredwhip
Good Morning Steve,
Weekly report for the W1 Script.....It took the gas-pipe this week and took back everything it won last week and more.....
I'm going to delay the start next week until Tues NY Session and see if that will define the trend alittle better since it almost didn't get into profit at all this week.

whip
I am going to wait as well. The basket I let run to mid-day Friday ended in profit, but the two closed on Thursday were both losers.

Next week, I am going in at the start of the Tokyo session on Tuesday.

  • #405
  • Edited 11:21am Jul 23, 2010 8:07am | Edited 11:21am
Quoting SteveHopwood
Scoobs and macman; invaluable advice. Thanks.
I shall adopt the hedge approach to death trades...Mind, I am a crap trader so I suggest everyone does exactly the opposite to anyting I am doing.
Lets face it we are all crap traders (with exception of Scoobs, Macman and couple of other contributors), otherwise we would not be here trying to find a better way of losing our hard earned money.

On a serious note, the problem with hedging is un-hedging the trade, especially when as soon as you hedge you see the price moving towards the opposite direction and your original trade and recovering at the same time your hedge trade being deep in -ve territory (this situation seems to happen to me all the time, emulating Inspector inspector clouseau)!!! One method used with Nanningbob`s system is to wait for the next STRONG Signal of a reversal to close the original and the hedged trade. I hope this does make sense.

Kind regards
  • #406
  • Jul 23, 2010 10:48am Jul 23, 2010 10:48am
Good day All,
Sirs: Scooby-Doo, Macman, Invisible. Thanks a bundle.

It is interesting how as we trade our experiences can be similar and the responses alike. After all, the entire end objective is profit and why not?

The discourse between you three, have been of benefit to myself. it reminds me of some thoughts I had penned earlier. The attached reflects a combination thereof and while we "try" to wait out the unprecedented "Eu Stress-Tests" announcements later today, it may provide another perspective. Hope it helps someone.

Bless
Attached File(s)
File Type: pdf Perspectives On Run-away or Death Trades(230710).pdf   12 KB | 489 downloads
  • #407
  • Jul 23, 2010 11:25am Jul 23, 2010 11:25am
With regard to death trades and hedging, it is also possible to use Fx options, although they are in their infancy. Within the next few years, I believe that this technique will mature to the point of matching equity options in effectiveness at protecting positions from these high stress events.

Rick
  • #408
  • Jul 23, 2010 11:46am Jul 23, 2010 11:46am
Quoting octomanoak
Rob,

Dunno how you did it. My IBFX demo of FTLR won't trade. I only get old tick errors.

Octo
Old tick meant you are missing Bars in your History Center. All you need to do is simply refresh the chart and that should fix it. If you switch to Journal, you will see xxxx bars imported into your History Center after you refreshed and now you are set to go.
  • #409
  • Jul 23, 2010 11:53am Jul 23, 2010 11:53am
Quoting BullRun
Old tick meant you are missing Bars in your History Center. All you need to do is simply refresh the chart and that should fix it. If you switch to Journal, you will see xxxx bars imported into your History Center after you refreshed and now you are set to go.
Wow. That is great help BullRun. How many bars should I need? I have the platform set to maximum 2000 bars for history/chart to save PC resources. Should I increase the number of bars as a general rule?
  • #410
  • Jul 23, 2010 11:55am Jul 23, 2010 11:55am
Quoting octomanoak
Wow. That is great help BullRun. How many bars should I need? I have the platform set to maximum 2000 bars for history/chart to save PC resources. Should I increase the number of bars as a general rule?
I am using the default setting comes with MT4. Also, note which timeframe the old tick is missing. This is especially a problem if EA refers to other timeframe outside of the trading timeframe. You would then need to pull up say D1 and refresh it while you may be trading in M15.
  • #411
  • Jul 23, 2010 12:01pm Jul 23, 2010 12:01pm
Quoting BullRun
I am using the default setting comes with MT4.
Defaults are 512000 bars in history and 65000 in chart, but I doubt that any EA requires that many bars for whatever indicators it may use.

Perhaps someone knows more about this and can comment.
  • #412
  • Jul 23, 2010 12:07pm Jul 23, 2010 12:07pm
Quoting octomanoak
Defaults are 512000 bars in history and 65000 in chart, but I doubt that any EA requires that many bars for whatever indicators it may use.

Perhaps someone knows more about this and can comment.
Often brokers don't have that many bars for you to import. Most EA do not need a lot of bars so I never bother about it and just leave it as default. However, if I want to import from my brokers data for backtesting purposes, then I would go change it 9999999999. Again, most broker don't have much data except may be Alapri and probably a few others. But otherwise, I let it be default.
  • #413
  • Edited 12:44pm Jul 23, 2010 12:19pm | Edited 12:44pm
How I wish this bar refresh thing would automatic trigger itself but it is not always the case. This always a problem if you start a new fresh MT4. However, once you had refreshed it, strangely enough it would then automatically kept on updating itself. Isn't it weird? Again, this is MT4 and guess we have to live with it and give it a gentle push before it would go.
  • #414
  • Jul 23, 2010 12:50pm Jul 23, 2010 12:50pm
@ Scooby, @ MacMan Etc

Thank you all for your contributions. Very interesting and useful perspectives.

Right now FTLR has 100% success rate, for the simple reason it has no stops. Now, I would quite happily settle for having SLs with success rate of say 70%. This would solve the death trade issue and allow anyone trading this live to sleep at night.

What I have always been hitting my head against is that with all the different combinations of SL I have tried in back testing on different currencies, I have not been able to find one that is actually profitable, which is hugely frustrating. I feel like there must be one out there, but who knows how long it will take to find it. In the meantime, running this live with no SL is just too scary for me .

If anyone has any ideas about how we can set SLs (perhaps using fibs, ATR or whatever) that would be great.

(Note all the above concerns the original settings of just using the RSI to determine trend and having a single trade at T1, canceled by price going over T2.)

Invisible
  • #415
  • Jul 23, 2010 12:57pm Jul 23, 2010 12:57pm
As an example, I really like this post http://www.forexfactory.com/showthre...72#post3848472
that FX Compass made. Post #143. I would like to get more thoughts on what he may think to use.

Regards,
Jeff
  • #416
  • Jul 23, 2010 1:07pm Jul 23, 2010 1:07pm
I had a pleasant start with the latest version of Monster Muncher today.

I watched as trades were gradually taken - some breakouts and some retraces. At one point, I watched a basket of 6 trades go from c. +5% to c. -5%, so I involoved mptm.

I set mptm to jump stop at 50 pips and set a be sl of +10 at the first jump; also global closure at 10% profit.

Later on, the trades achieved this global profit target and mptm closed the basket.

Lovely start.

  • #417
  • Jul 23, 2010 1:14pm Jul 23, 2010 1:14pm
Quoting azjeff
As an example, I really like this post http://www.forexfactory.com/showthre...72#post3848472
that FX Compass made. Post #143. I would like to get more thoughts on what he may think to use.

Regards,
Jeff
Nice one Jeff. I promised to code this, but forgot about it.

I shall start on it later.

  • #418
  • Jul 23, 2010 1:42pm Jul 23, 2010 1:42pm
Quoting SteveHopwood
This version has a check that the stop loss is on the opposite side of the trend line by at least 5 pips. You can have this minimum distance as an input if you like.

Also attached is a M15 GJ backtest with some sell trades.

This one is looking promising, so I shall add it to post 1 over the weekend, so people can find it easily.

Nice result so far on M15 default refering bot at #344 see link below. I have it on some 20 pairs on forex.com. Seemed to hold on to profit well just one week and see how it goes next week. 300+pips bagged and 100+pips in the making. This one got sl and tp so can sleep well. Looks very good so far. Thanks to both the Steve.

http://www.forexfactory.com/showpost...&postcount=344
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  • #419
  • Jul 23, 2010 3:35pm Jul 23, 2010 3:35pm
61 consecutive winners, no losses(FTLR). DD currently 2%. Running like a Swiss watch on IBFX.

I keep wondering when the other shoe will drop.

Rob
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  • #420
  • Jul 24, 2010 4:42pm Jul 24, 2010 4:42pm
Any fello crap traders not yet done so, make sure you have signed up at http://www.forexfactory.com/showthread.php?t=246113

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