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Simple H1 GBPUSD EA

  • #8,261
  • Aug 12, 2010 9:22am Aug 12, 2010 9:22am
Just talked to Alpari US. From what I could gather, Alpari US is not a US branch of Alpari UK, and is no more like Alpari UK than any other US broker.
  • #8,262
  • Aug 12, 2010 11:02am Aug 12, 2010 11:02am
Geoff/Piptician, this is a suggestion from the thread discussing the manual version of your EA as posted by drloyd

Quote
It took 3 days for the H1 197 SMA to roll over after the price turned down. The result was losing buy entries in a down trend.

Possible rule: Turn the EA off when the 10 SMA crosses the 197 SMA until the 197 turns the same direction as the cross.

Possible rule: Put a 98 SMA on the chart. Turn the EA off when the 10 SMA crosses the 98 SMA until the 197 SMA turns in the direction of the cross.

Possible rule: Turn the EA off when the direction of the 98 SMA and 197 SMA disagree until the 197 catches up.

To me it seems like it has a lot of merit and may be worth incorprating into the current EA?
  • #8,263
  • Aug 12, 2010 11:31am Aug 12, 2010 11:31am
Geoff,

Do you trade on friday ?
  • #8,264
  • Aug 12, 2010 11:41am Aug 12, 2010 11:41am
at least for me.

IBFX live. One GU chart with EA 2 0rders set file.
Another GU chart with EA (different magic number) 1 Order set file.
Last two nights the one order has been triggerd. And one of the 2 orders (with 50 pips TP) also triggered.
One order is not executed from the two orders set file EA.

I think something is wrong

Elovv
  • #8,265
  • Aug 12, 2010 12:02pm Aug 12, 2010 12:02pm
Quoting dambuster
Geoff/Piptician, this is a suggestion from the thread discussing the manual version of your EA as posted by drloyd
To me it seems like it has a lot of merit and may be worth incorprating into the current EA?
Unfortunately, as they stated on page one, 140 stop loss should be
accepted and no exception.

My problem with this approach that, 90%

of the time we drown our accounts, like yesterday, first go -74 pips

and then achieve 10+.. As I said earlier, the solution is simple. Buy Stop/

Sell Stop 30-50 pips away from triggered price. I don't see any single time

when pair moves straight in favor of the EA entries..

Other solution: Drink Bottle of Vodka, close Computer screen and

hope that tomorrow you might wake up into profits, or babysit the

trade and get access to the Phone, in case of the hard attack.
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #8,266
  • Aug 12, 2010 12:28pm Aug 12, 2010 12:28pm
Quoting SkyzerFX
Unfortunately, as they stated on page one, 140 stop loss should be
accepted and no exception.

My problem with this approach that, 90%

of the time we drown our accounts, like yesterday, first go -74 pips

and then achieve 10+.. As I said earlier, the solution is simple. Buy...


Amen
  • #8,267
  • Aug 12, 2010 12:37pm Aug 12, 2010 12:37pm
Quoting SkyzerFX
As I said earlier, the solution is simple. Buy Stop/

Sell Stop 30-50 pips away from triggered price. I don't see any single time

when pair moves straight in favor of the EA entries..

I said the same a couple months ago..I was asking statistics of signals and the draw down of each since entry but before TP was hit..

If the average draw down on each signal is 40 pips then set buy stop etc 40 pips from entry draw down is greatly reduced and TP hit quicker

Paulus
  • #8,268
  • Aug 12, 2010 1:50pm Aug 12, 2010 1:50pm
Quoting Paulus
I said the same a couple months ago..I was asking statistics of signals and the draw down of each since entry but before TP was hit..
If the average draw down on each signal is 40 pips then set buy stop etc 40 pips from entry draw down is greatly reduced and TP hit quicker
Paulus
I'm glad that somebody finally agrees with me.. Why drown down

account? Why not enter 40-50 pips (lower/higher) in advance and

possibly maximize profits, while minimizing Stop Loss?
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #8,269
  • Aug 12, 2010 3:03pm Aug 12, 2010 3:03pm
Quoting SkyzerFX
I'm glad that somebody finally agrees with me.. Why drown down

account? Why not enter 40-50 pips (lower/higher) in advance and

possibly maximize profits, while minimizing Stop Loss?
Interesting idea Sky/Paulus. I modified Tokyo to dump out the max drawdown figures before TP1 was hit and plotted the chart below.

So you are suggesting setting a Buy Limit for longs and Sell Limit for shorts based on the average drawdown. This will exclude around 16 trades. To counter this a Buy Stop for longs and Sell Stop for shorts could be placed at the original entry point once the drawdown reaches 50% of the average. Whichever of the Limit/Stop orders triggers first will cancel the other (OCO).

Regards,
Piptician
Attached Image (click to enlarge)
Click to Enlarge Name: TokyoDrawdown.png Size: 32 KB
  • #8,270
  • Aug 12, 2010 3:08pm Aug 12, 2010 3:08pm
could the SL also be lowered by mabe 20-40 pips too
  • #8,271
  • Edited 4:22pm Aug 12, 2010 4:04pm | Edited 4:22pm
Quoting piptician
Interesting idea Sky/Paulus. I modified Tokyo to dump out the max drawdown figures before TP1 was hit and plotted the chart below.

So you are suggesting setting a Buy Limit for longs and Sell Limit for shorts based on the average drawdown. This will exclude around 16 trades. To counter this a Buy Stop for longs and Sell Stop for shorts could be placed at the original entry point once the drawdown reaches 50% of the average. Whichever of the Limit/Stop orders triggers first will cancel the other (OCO).

Regards,
Piptician
I have been working on a version of this idea for a while now..

When the pair place's a trade, take a average drawdown figure ( say 25 pips ) place a line at that point below/above the entry price and when the price action takes it past that line by 10/15 pips place a pending stop order in the direction of the trend..

That way if the price carries on moving away from the entry price we do not have a position and the pending order can follow the price movement if required...

Yesterday this worked very well, where as the placement of Limit order would have run up higher drawdown and at the begining of the week it make a massive loss...

And for Stop loss, I belive theres a case for the Stop loss to be placed just above/below the last Valid 5 candle fractal.....which will be the end of a wave, as per the Elliot wave theory.
After all thats all we are doing is trading the waves in the trend direction and when we hit the 3rd or 5th wave we have a strong solid move....

I have also noticed everytime we have a weak or drawn out trade it always coincides with one of the MA's being close to flat....I mean within 10/15 of the prevoius 2hour candles.....Iam only taking trade's with the angle of the MA's above this range..

Of course theres no doubt that these idea's will keep us out of some trade's and no doubt the win's per year will fall back, but I would rather have less trade's and a more stable EA..
  • #8,272
  • Aug 12, 2010 4:23pm Aug 12, 2010 4:23pm
Quoting geoffb65
Thanks for the confirmation!
Geoff and GoldL.....

Thanks for that. I'll see how they go this evening.
  • #8,273
  • Aug 12, 2010 4:25pm Aug 12, 2010 4:25pm
Quoting lawgirl21
Woke up to +72 on live and +72 on demo. FXDD camv3.
Likewise Lawgirl. A pleasant surprise!
  • #8,274
  • Aug 12, 2010 4:56pm Aug 12, 2010 4:56pm
http://www.forexfactory.com/showthread.php?t=193727

here are a bunch of script files that might work for some of the manual trading going on
  • #8,275
  • Aug 12, 2010 5:17pm Aug 12, 2010 5:17pm
Theres major support at around 1.5550. the bottom of the raising channel....

The pair may bounce of this....at some stage today.

  • #8,276
  • Aug 12, 2010 5:55pm Aug 12, 2010 5:55pm
Quoting dryclean
http://www.forexfactory.com/showthread.php?t=193727


here are a bunch of script files that might work for some of the manual trading going on
Thank you, dryclean.
  • #8,277
  • Aug 12, 2010 5:57pm Aug 12, 2010 5:57pm
Anyone trading tonight?
  • #8,278
  • Aug 12, 2010 6:08pm Aug 12, 2010 6:08pm
Alpari live....V 16 short at 1.55846..
  • #8,279
  • Aug 12, 2010 6:09pm Aug 12, 2010 6:09pm
IBFX live v17/3 23:05: sell 1.55827, 1,55825, 15832
  • #8,280
  • Aug 12, 2010 6:17pm Aug 12, 2010 6:17pm
instaforex live V15 open 3 short @1.5583
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