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NanningBob V1 Trend auto trading robot by Steve Hopwood

  • #101
  • Jan 8, 2011 11:05am Jan 8, 2011 11:05am
Quoting SteveHopwood
If you want a smaller stop, you can use TMA. Is there a reason for not doing so?


I will when I am feeling strong. This kind of thing induces a logic fuzz that makes my head reel. Leave it with me.

There are a couple of reasons. First, the stop that I want is the one based on my testing. That's not a good reason, but it is a reason.

Second, the way Bob has made his system, price will always swing down to meet the 5x5. Sometimes that swing (and 1/2 that swing) will be less than the distance to the TMA. Sometimes it will be greater than the distance to the TMA.

Third, and most important, there are many trades where price has gone so far outside the TMA that the swing back to the 5 actually occurs also outside the TMA. Any stop based on the TMA in this situation is bound to fail. So I don't want to use it.

On the other point, I will write up a basic algorithm for setting that sort of lot size later today, and you can look at it at your convenience.
  • #102
  • Jan 8, 2011 11:30am Jan 8, 2011 11:30am
Quoting SteveHopwood
Quote
Second: this is much more involved, but ideally I would like lot size to be based on a percentage of equity risked. Basically, if I was willing to risk 2% of my equity on a trade, then I would see what that dollar amount was, and then calculate the lot size by dividing the amount risked by (SLPips*PipValue).

I will when I am feeling strong. This kind of thing induces a logic fuzz that makes my head reel. Leave it with me.

You might not remember, since a few months have past, but I have postet an EA which might give you some good input on this one.

You'll find my post in the Nanningbob newbie thread right here:
http://www.forexfactory.com/showpost...3&postcount=35

chris
  • #103
  • Jan 8, 2011 11:39am Jan 8, 2011 11:39am
Quoting duffypratt
Third, and most important, there are many trades where price has gone so far outside the TMA that the swing back to the 5 actually occurs also outside the TMA. Any stop based on the TMA in this situation is bound to fail. So I don't want to use it.
Fair enough. Consider it done.

Quote
On the other point, I will write up a basic algorithm for setting that sort of lot size later today, and you can look at it at your convenience.
Not to worry. AlanJ has sent me a formula.

  • #104
  • Jan 8, 2011 11:41am Jan 8, 2011 11:41am
Quoting chrisx
You might not remember, since a few months have past, but I have postet an EA which might give you some good input on this one.

You'll find my post in the Nanningbob newbie thread right here:
http://www.forexfactory.com/showpost...3&postcount=35

chris
Cheers Chris

  • #105
  • Edited 11:53am Jan 8, 2011 11:50am | Edited 11:53am
Here's an outline of what I have in mind.

1) Get Equity
2) Get Risk % (user defined)
3) Set $Risk = Equity*Risk%/100

4) Get PipValue (I believe this is avaliable as a MarketInfo function on MT4)
5) Set StopSizeinPips = Absolute Value (EntryPrice - Stop)
Stop of course is defined elsewhere in the program. (With an ECN, I believe, you would have to calculate this first and use it here, and then have actually to set the stop after the order is placed.)

6) Set LotSize = $Risk / PipValue * StopSizeinPips


I anticipate that you would also get requests to set a MaxLotSize, and also perhaps a MinLotSize. I'm not asking for either of those, but I can see why some traders might want one or the other.

Thanks for all your work. I'm not in any rush to get this, but it is definitely the way I would like to trade this system sometime in the future.

EDIT: I posted this before I saw your last saying it was not needed. Thanks again.
  • #106
  • Jan 8, 2011 11:56am Jan 8, 2011 11:56am
tried to post this in the NB 1.0 thread but have no vouches until now, so i'm forced to post it here.

the problem for the convergence and divergence is, that if in an uptrend the price needs to touch the lower band of TMA. if this happens than TMA will ever diverge from the MA(240).

if i look at the charts i didn't see any example were it converge.
  • #107
  • Jan 8, 2011 12:00pm Jan 8, 2011 12:00pm
Quoting duffypratt
Here's an outline of what I have in mind.

1) Get Equity
2) Get Risk % (user defined)
3) Set $Risk = Equity*Risk%/100

4) Get PipValue (I believe this is avaliable as a MarketInfo function on MT4)
5) Set StopSizeinPips = Absolute Value (EntryPrice - Stop)...
Actually, it is. I just realised that Alan's formula does not take into account the no of pips in the stop loss, so thanks.

  • #108
  • Jan 8, 2011 12:06pm Jan 8, 2011 12:06pm
Quoting duffypratt
3) Set $Risk = Equity*Risk%/100
Is that
Set $Risk = (Equity*Risk%)/100

or

Set $Risk = Equity*(Risk%/100)

  • #109
  • Jan 8, 2011 12:30pm Jan 8, 2011 12:30pm
Quoting hiredwhip
Hi Pippo,
I can't stay sober long enough to be of much help......How's your coffee this AM?

whip
with Anise flavoured liquor, black. Just the first cup like this. The rest, heavy cream, no shug. Sorry took so long. Pippo
Vincit qui se vincit.
  • #110
  • Jan 8, 2011 12:30pm Jan 8, 2011 12:30pm
Quoting SteveHopwood
Is that
Set $Risk = (Equity*Risk%)/100

or

Set $Risk = Equity*(Risk%/100)

In english, the amount I'm willing to risk in a trade is a set percentage of my equity. Let's say 2%. So my $Risk = Equity*2/100 In that equation, the parenthesis are irrelevant. So, if I have 10K in equity, I'd be willing to risk $200 per trade.

I know that some computer programs look at percentage as an integer,and some look at them as a fraction -- already dividing them by 100. I have no idea what the guys who developed MT4 use. I just want to make sure that the idea is clear.

If you go to the next step. Suppose we are in a dollar based currency, so that a standard lot pip is worth $10, and that I have a stop loss of 40. That means that on my 10K account, I would be willing to trade 1/2 of a standard lot (200/(10*40)).

Hope this helps.
  • #111
  • Jan 8, 2011 12:42pm Jan 8, 2011 12:42pm
Quoting duffypratt
In english, the amount I'm willing to risk in a trade is a set percentage of my equity....
OK, I surrender. Until someone provides me with an actual formula that does what you actually want without tying me in mathematical nots, then this is not going to happen.

I don't want this, so I do not actually care whether it happens or not.
  • #112
  • Jan 8, 2011 2:03pm Jan 8, 2011 2:03pm
In case of non usd based currency
no. of lot to be risked = amount of money to risk /(pip value in dollar * stop loss in pips)
to calculate pip value :
if the the dollar is the counter currency like GBPUSD the pip value = 10 dollars
if the dollar is the base currency like USDCHF = 100000/ (close price *10000)
i.e.= 10/close price
if the pair is cross
like EURGBP = 100000 * price of GBPUSD/ (10000* price of the cross EURGBP )
= 10* gbpusd close/ cross price (eurgbp)

I hope this help
I'm not a programmer and i don't like ! , but only I try to catch my view !
  • #113
  • Edited 3:36pm Jan 8, 2011 3:26pm | Edited 3:36pm
Steve,

in my " 3 Tier London Breakout" EAs, i have coded the following risk calc function:

Inserted Code
//+------------------------------------------------------------------+
double GetMaxLot(int SL, double Risk)
//+------------------------------------------------------------------+
{
  double lotsize,tickvalue,pipvaluefor1lot,SLfor1lotfor1percent,maxLot;
  lotsize   = MarketInfo(Symbol(),MODE_LOTSIZE);
  tickvalue = MarketInfo(Symbol(),MODE_TICKVALUE);
  pipvaluefor1lot = lotsize*tickvalue*pip;
  maxLot    = NormalizeDouble([color=Black]AccountFreeMargin()[/color]*Risk/100/pipvaluefor1lot/SL,2);
  return(maxLot);
}
Use like this:

Inserted Code
 
extern double     Lot  = 0.01;
extern double     MaxRisk = 0; // (percent) if 0 then use fixed Lots above

...


   //adjust Lot based on MaxRisk and SL value
    if (MaxRisk > 0) lots = (MathMin(Lot,GetMaxLot(SL_pips,MaxRisk)));
    else lots = Lot;

NOTE: the risk function uses AccountFreeMargin(), not AccountEquity().
Also, it does not handle min lot size and lot step for the account, so this may cause "invalid lot size" errors on non-micro accounts.
I could come up with a fix to take care of that (using MarketInfo(Symbol(),MODE_MINLOT) and MarketInfo(Symbol(),MODE_LOTSTEP) ) .

Using AccountEquity() would probably result in a different formula, but the resulting lot size should be the same.


Sasco's formula is based on the amount of money to risk, which is another risk approach as well.

Sq
  • #114
  • Jan 8, 2011 4:04pm Jan 8, 2011 4:04pm
Quoting squalou
Steve,

in my " 3 Tier London Breakout" EAs, i have coded the following risk calc function:

[code]//+------------------------------------------------------------------+
double GetMaxLot(int SL, double Risk)
//+------------------------------------------------------------------+
{...
Thanks sq, but I have lost interest and do not care any more.

It ain't broke, so I am not fixing it.

  • #115
  • Jan 8, 2011 4:11pm Jan 8, 2011 4:11pm
Quoting SteveHopwood
Thanks sq, but I have lost interest and do not care any more.

It ain't broke, so I am not fixing it.


Sorry for the confusion. The trouble is that some programs deal with % as an integer, and you have to divide it by 100 to make it the right number. Other programs deal with it correctly. So, the question is does x% = x, or does x% = x/100.

If x% = x, then the formula for $Risk is Equity * x%/100

If x% = x/100, then the formula for $Risk is Equity * x%

Code it or not as you like. Everything you do is voluntary, and much appreciated simply on that basis. I was just trying to be clear (and evidently failing at it).
  • #116
  • Jan 8, 2011 4:21pm Jan 8, 2011 4:21pm
I have added the ability to multiply the swing stop loss by a factor of the user's own choice - see post 1.

I have been thoroughly irritated by some of the stuff posted here today.

This bot is intended to be an auto-trading representation of Bob's trading strategy, so I blame myself for allowing myself to be led into irrelevance and confusion.

In future, only stuff that appears in Bob's strategy will appear here. I shall ignore anything else.

  • #117
  • Jan 8, 2011 4:32pm Jan 8, 2011 4:32pm
  • #118
  • Jan 8, 2011 6:41pm Jan 8, 2011 6:41pm
Quoting SteveHopwood
In future, only stuff that appears in Bob's strategy will appear here. I shall ignore anything else.


sounds fair enough.
  • #119
  • Jan 8, 2011 8:00pm Jan 8, 2011 8:00pm
Quoting SteveHopwood
I have added the ability to multiply the swing stop loss by a factor of the user's own choice - see post 1.

I have been thoroughly irritated by some of the stuff posted here today.

This bot is intended to be an auto-trading representation of Bob's trading strategy, so I blame myself for allowing myself to be led into irrelevance and confusion.

In future, only stuff that appears in Bob's strategy will appear here. I shall ignore anything else.


Thanks for adding the multiplier. I look forward to trying it. It's much appreciated.
  • #120
  • Jan 9, 2011 1:48am Jan 9, 2011 1:48am
Obviously i am nervous posting this , but if you dont ask you dont get.

In bobs system he refers to the 5x5 being near to the tma line for a trade to be valid , if it is too far away from the tma line we should not take the trade - is this already built into your ea steve - thank you
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