Central Banks & Big Players | Page 257 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

How do you know all the positions held by big players? 25 replies

ECN && STP && Scalping && Hedging - Broker Review - Oct 2009 24 replies

Central Banks and Big Players: Slight change in code reqd 7 replies

Japanese housewives are wrecking the forecasts of big players! 25 replies

Big players and Forex 4 replies

Attachments: Central Banks & Big Players
Exit Attachments

Central Banks & Big Players

  • #5,121
  • Jan 5, 2011 8:12am Jan 5, 2011 8:12am
Spread 0.9... Let's see if it remains 0.9...
  • #5,122
  • Jan 5, 2011 4:09pm Jan 5, 2011 4:09pm
0SL on New York open this morning. How do you guys attach an Oanda chart? I have no problem attaching an IBFX chart but haven't figured out how to do it with Oanda.
  • #5,123
  • Jan 5, 2011 9:24pm Jan 5, 2011 9:24pm
tony where u hidin man i miss u
  • #5,124
  • Jan 6, 2011 2:37am Jan 6, 2011 2:37am
Quoting momo2k11
tony where u hidin man i miss u

I was on vacations, i'm back now that the spreads look a little better. I'm sitting on some epic looking trade today, from the London open
Invest in alarm clocks
  • #5,125
  • Jan 6, 2011 2:41am Jan 6, 2011 2:41am
Quoting Tony112
I was on vacations, i'm back now that the spreads look a little better. I'm sitting on some epic looking trade today, from the London open

Care to share with us Tony on the trade, I was out at BE on the EU long this London open
Don't stop believing
  • #5,126
  • Jan 6, 2011 8:14pm Jan 6, 2011 8:14pm
-2 pips on New York open today. Break of 5M support at 10:00 EST would have resulted in a 100+ win.
  • #5,127
  • Jan 7, 2011 10:57am Jan 7, 2011 10:57am
-2 NY open
  • #5,128
  • Jan 10, 2011 4:51am Jan 10, 2011 4:51am
-2 pips London Open
Don't stop believing
  • #5,129
  • Jan 10, 2011 6:09am Jan 10, 2011 6:09am
Quoting Zen_Leow
Hi all,

I've just made some amendments based on requests I received in pm.

Yet to test it so run it on demo to see if it works according to your liking before trading it live.

I'm already forward testing this on my live account.

In this version, the stop loss price will start moving towards the Entry price pip by pip according to the move. And not wait for a defined number of pip movement before jumping to breakeven.

This version should be able to help bring drawdown to a minimum for MT4 users. especially since most MT4 brokers restrict...
Zen,
I sent you a PM. Was wondering if it would be possible to alter the above EA ( http://cdn.forexfactory.com/images/attach/mq4.gif CBBP_EA_v2-0.mq4) to get you back to BE+1pip (pip by pip according to the move). Could you make the +1 variable adjustable if possible? MB Trading charges a commission so when I'm back to BE I still lose the commission. The extra pip will cover that. Anyone paying commissions will appreciate this change. thank you
  • #5,130
  • Jan 10, 2011 10:33am Jan 10, 2011 10:33am
Quoting Toothman
Zen,
I sent you a PM. Was wondering if it would be possible to alter the above EA ( http://cdn.forexfactory.com/images/attach/mq4.gif...

Adjust your be pips to 6 instead of 5 etc.
  • #5,131
  • Jan 10, 2011 6:51pm Jan 10, 2011 6:51pm
Was wondering if you finished your pip restore strategy? Can you give us a general strategy? Are you doing any trading?
  • #5,132
  • Jan 11, 2011 2:24am Jan 11, 2011 2:24am
Quoting Toothman
Was wondering if you finished your pip restore strategy? Can you give us a general strategy? Are you doing any trading?

I'm here, i wasn't trading during the high spreads... now i'm back.... pip restore isn't ready yet... I want to make sure I post something stable
Attached Image (click to enlarge)
Click to Enlarge Name: f1.jpg Size: 56 KB
Invest in alarm clocks
  • #5,133
  • Jan 11, 2011 6:48am Jan 11, 2011 6:48am
Quoting traderjane
Adjust your be pips to 6 instead of 5 etc.
That will make EA wait until I'm up 6 pips but will still close at BE. So I'll still lose the commission.
  • #5,134
  • Jan 11, 2011 11:51am Jan 11, 2011 11:51am
Recovered (lost from last week) a few pips on New York open today. So far after a week and a half been able to keep account above BE waiting for epic win. Still looking for a programmer who can alter the code to allow for broker (MB Trading) commissions. As is now it moves to BE pip by pip but you still end up paying the commission at BE. Here's the EA found in this thread - http://cdn.forexfactory.com/images/attach/mq4.gif CBBP_EA_v2-0.mq4
  • #5,135
  • Jan 12, 2011 1:05am Jan 12, 2011 1:05am
Quoting Toothman
Recovered (lost from last week) a few pips on New York open today. So far after a week and a half been able to keep account above BE waiting for epic win. Still looking for a programmer who can alter the code to allow for broker (MB Trading) commissions. As is now it moves to BE pip by pip but you still end up paying the commission at BE. Here's the EA found in this thread - http://cdn.forexfactory.com/images/attach/mq4.gif CBBP_EA_v2-0.mq4
Sorry for being lazy and not looking back over the forum but is there any instructions for this EA?
  • #5,136
  • Jan 12, 2011 1:27am Jan 12, 2011 1:27am
Quoting PipsRus
Sorry for being lazy and not looking back over the forum but is there any instructions for this EA?

Hi all,


As a certain renko system turned down my help recently, I have time to hunt for new systems to help code EAs for and this one caught my eye due to its simplicity and the positive dynamics of it's participants.


Anyway, I made an EA for this method just now but since trading is now closed, I've not had a chance to fully test it. I thought more can help out with the testing process so I'm sharing it here since there seems to be interests.


Inputs Explanation


EA_MAGIC_NUM = 3947947


Every trade opened by this EA will have this number tagged to it so that it doesn't manage the wrong trades that're opened by other EAs, keep this unique. If you want to attach the EA to other charts using the same account, use a different number.


IsECN = true


If you set this to True, it will open trade with no SL and TP then immediately modify it to add in the SL and TP. This is necessary for ECN-like brokers. set it to false and it will sent all info at one go. If in doubt, leave this as true.


CheckHourOfAttach = true


If this is set to true, EA will be disabled if you attach it at the hour of the sessions' open. This is to prevent taking wrong trades. See it as a failsafe. Always attach the EA at an hour other than the predefined open session hour. That way, the EA will be "waiting" for the session open and not the other way round.


Session1 = "London Session"
SessionOpenHour1 = 8
Session2 = "New York Session"
SessionOpenHour2 = 13


These are the session timings in accordance to GMT 0. check with your broker what is your GMT offset and make the changes accordingly.


GraceMinutes = 5


When a session opens, it will look for opportunity to buy or sell for this amount of minutes. the logic is that if price hasn't moved for 2 pips in 5 minutes. something is terribly wrong and we should avoid trading.


Show_Comments = true


This is to toggle the display on the top left corner of your chart. Useful info about the EA is being displayed there if this is set to true.


UserDefinedSpread = 0


till now, I still don't understand the logic of this setting but it was something that's requested by my past clients and so I left it in. Basically, you get to set the spread that the EA will work with. if you want to EA to use market spread (which sounds more logical), keep this as 0.


Slippage = 3


Self explanatory.


Pip_Distance = 2


The amount of pip movement from the open price for the EA to trigger a trade.


TakeProfit = 140


Self explanatory


StopLoss = 5


I didn't set this as 2 by default because so MT4 brokers restricts a minimum stop loss of 5 pips. try setting it lower if you want but I'm not sure if the order will get through.


UseFloatingStop = false
UseJumpingStop = false
TrailingStop = 0


This is the trailing stop mechanism that's built into all my EAs, a bit hard to explain. basically my trailing stop has 2 modes. Floating stop means the stop loss level move in pip by pip together with the market price. while Jumping stop takes leaps. Some like the former for its profit locking, others like the latter cos it gives the trade more breathing space. Anyway, this strategy did not mention the use of trailing stop so I set it to be off by default.


Add_Spread_To_StopLoss = false


Self explanatory.


Use_Spread_Filtering = true
Spread_Filter = 1.0


If spread is more than the said amt of pips, no trade will be opened.


MoneyManagement = true
RiskPercent = 0.25
UseEquity=false


This opens trades with position size according to the percentage of risk and stop loss amt you're willing to take. in this case, if a trade goes sour, you will lose 0.25 percent of your balance. The UseEquity setting flips this method upside down by using your amount of equity to decide how much to open. if it's set to true, it will use 0.25 percent of your total equity to calculate how big a position size you can open (disregard stop loss level, so potential for huge losses/gains).


Use_BE=true
BreakEven_Pips=5.0


If price has moved in your favor for said amt of pips, move the SL level to break even.


FixedLots = 0.1


this only comes into play if you set MoneyManagement to false.


MaxLots = 15.0
MinLots = 0.01


the EA checks all calculated lot size according to these settings.


LotsDecimalAllowed = 2


again with the lot size handling. If your broker cannot handle micro lots, please set it to 1 and the EA will round up/down the calculated lot size accordingly.




Other features


Inputs Validation


The EA won't run if there's invalid info given in the inputs, e.g. session hour set to 26 (no such hour, EA won't run). You'll get an alert message telling you what you've keyed wrong. If more validations are required, please tell me and I can add it in. This is to reduce silly mistakes. I'm a firm believer of murphy's law.


Log files


The EA writes logs of important info into text files that can help in debugging potential issues. they can be found in your
[MetaTrader Installation folder]expertsfiles folder


Each day and each currency pair creates a new file. the naming convention will be CBBP-[Currency Pair Symbol]-[DD]-[MM]-[YYYY].log


Fractional Pips handling


The EA should be able to handle 5 digit and 3 digit brokers with no issues.


ECN ready


As described earlier.
___________________


It kinda sound like a sales pitch doesn't it but I assure you its not... anyway the source code is attached. So there you have it. My first EA after more than a year away from forex and FF.


Note that I've not coded MQL in a long time and this EA is kinda like a Frankenstein's monster of my past works so don't test it in live account straightaway.


Happy trading to all.
  • #5,137
  • Jan 13, 2011 7:36am Jan 13, 2011 7:36am
Hey Tony and all,

If we were to follow the strategy in a mechanical manner and trade in the direction which price initially moves towards, I find that this is less reliable compared to setting a limit order (or you can manually use a market order too) in the direction of the trend. What has repeated happened through my observation is that price, for some reason, always goes against the general trend before turning around and moving in the direction of the general trend. You would have been stopped out many times if you follow the system very mechanically.

Any similar thoughts on this from you guys? Perhaps you could look at your personal trade journal or history for clues.
  • #5,138
  • Edited 9:11am Jan 13, 2011 9:01am | Edited 9:11am
Hi all,

I've considered Toothman's request and it makes sense. Most importantly, it doesn't distort the strategy. so here it is.

This new version should allow those affected by commission brokers to raise the BE level accordingly. I also did a little clean up to make the BE movement codes a little more logical (easier for me to read in future).

Inputs added

CommissionPips (default: 1)

CommissionPips is how much additional move you want the stop loss to go in order to reach your "True Break Even Point". The stop loss level will still move pip by pip until that level is reached. If you set CommissionPips to 0 or less, the EA will work just the same as version 2.

Although this isn't a major change, you should still demo test it before using it live.

Have fun and may the pips be with you.

Regards,
Zen

[EDIT] Made a slight adjustment to remove a redundant variable. If you downloaded the file within 15minutes from the point of this post, please download again and replace with this new attachment.
Attached File(s)
File Type: mq4 CBBP_EA_v3-0.mq4   38 KB | 1,530 downloads
Programming for a better future.
  • #5,139
  • Jan 13, 2011 9:27am Jan 13, 2011 9:27am
I've received PMs asking what's the difference since they're always set the same.

The answer is in the question itself. you can set them differently. It'll just alter the way the BE mechanism will work.

e.g. you can set StopLoss to 5 pips and set Breakeven_Pips to 8 pips.

This means price will have to first move more than 3 pips (8 minus 5) in your favor before you start seeing the stoploss level moving towards your breakeven level pip by pip.

In other words, the Breakeven_Pips sets the distance which the EA will maintain at maximum between the current price and the current trade's stoploss level. (until the BE level is reached)

As a rule of thumb, the Breakeven_Pips should always be set equal to or greater than the StopLoss input value.

Still confused? well here's a pictur... (erm... nope.. I'm too lazy to draw one..)

Just test it out. play with it on demo and you'll understand the concept.

regards,
Zen
Programming for a better future.
  • #5,140
  • Jan 13, 2011 9:30am Jan 13, 2011 9:30am
Quoting Zen_Leow
I've received PMs asking what's the difference since they're always set the same.

The answer is in the question itself. you can set them differently. It'll just alter the way the BE mechanism will work.

e.g. you can set StopLoss to 5 pips and set Breakeven_Pips to 8 pips.

This means price will have to first move more than 3 pips (8 minus 5) in your favor before you start seeing the stoploss level moving towards your breakeven level pip by pip.

In other words, the Breakeven_Pips sets the distance which the EA will maintain at maximum between...


Thanks Zen for this
Don't stop believing
21 traders viewing now