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

  • #981
  • Jan 24, 2011 6:44pm Jan 24, 2011 6:44pm
Quoting Pipstrumpf
hiredwhip,

I understand your concern about hedging the same pair especially for you guys in the US with all those limitation in place. When I used to trade CFD's in my earlier days I used options and that worked quiet nicely but that was done manually on two different platforms. I don't know if it is possible to incorporate a setting into the bot to start to open a hedge with another pair but I can just imagine that it will be not easy to do it.

Cheers
You have the magic man here.......explain the details to him
  • #982
  • Jan 24, 2011 6:48pm Jan 24, 2011 6:48pm
Quoting Pipstrumpf
I don't know if it is possible to incorporate a setting into the bot to start to open a hedge with another pair but I can just imagine that it will be not easy to do it.
No harder than coding a same-pair hedge. All I need to know is which pair hedges which other. This knowledge is probably common to more experienced traders; not to me.

  • #983
  • Jan 24, 2011 7:03pm Jan 24, 2011 7:03pm
Quoting SteveHopwood
No harder than coding a same-pair hedge. All I need to know is which pair hedges which other. This knowledge is probably common to more experienced traders; not to me.

Example EUR/USD correlates negatively to USD/CHF most of the time . Meaning when EUR rises against the USD the USD weakens against the Swissy.
But on a long term bases correlation ratios are changing and are not fixed and that could be and is an additional risk. So in hedging the same pair we do not have that issue and we know exactly the unrealized loss we carrying over in the account.
  • #984
  • Jan 24, 2011 7:09pm Jan 24, 2011 7:09pm
Quoting Pipstrumpf
Example EUR/USD correlates negatively to USD/CHF most of the time . Meaning when EUR rises against the USD the USD weakens against the Swissy.
But on a long term bases correlation ratios are changing and are not fixed and that could be and is an additional risk. So in hedging the same pair we do not have that issue and we know exactly the unrealized loss we carrying over in the account.
Yes, I was just curious. I would not even contemplate touching correlation trading.

The whole point of your idea is to preserve margin by taking the neutralising disaster trades; sounds good to me.

  • #985
  • Jan 24, 2011 7:09pm Jan 24, 2011 7:09pm
Quoting Pipstrumpf
Example EUR/USD correlates negatively to USD/CHF most of the time . Meaning when EUR rises against the USD the USD weakens against the Swissy.
But on a long term bases correlation ratios are changing and are not fixed and that could be and is an additional risk. So in hedging the same pair we do not have that issue and we know exactly the unrealized loss we carrying over in the account.
The other issue in taking a hedge trade with another pair is to service the margin requirement for your account. Hedging the same pair will neutralize it out.

Cheers
  • #986
  • Jan 24, 2011 7:12pm Jan 24, 2011 7:12pm
Quoting SteveHopwood
Yes, I was just curious. I would not even contemplate touching correlation trading.

The whole point of your idea is to preserve margin by taking the neutralising disaster trades; sounds good to me.

Thank you Steve for your generosity and considering such ideas as mentioned.

Cheers
  • #987
  • Jan 24, 2011 7:13pm Jan 24, 2011 7:13pm
Pipstrumpf,
Thanks as usual for the great info....

Have a great day

whip
  • #988
  • Jan 24, 2011 7:16pm Jan 24, 2011 7:16pm
Quoting hiredwhip
Pipstrumpf,
Thanks as usual for the great info....

Have a great day

whip
Same to you
  • #989
  • Jan 27, 2011 4:08pm Jan 27, 2011 4:08pm
Steve

Just another idea, instead of closing all positions at break even once L2, L3 and L4 are taken why not just go to BE+1 and ride the train as long as possible and squeeze every single pip out of the criminals? In other words once BE+1 trail the trend till it bends.

Just an idea.

Cheers
  • #990
  • Jan 27, 2011 4:29pm Jan 27, 2011 4:29pm
Quoting Pipstrumpf
Steve

Just another idea, instead of closing all positions at break even once L2, L3 and L4 are taken why not just go to BE+1 and ride the train as long as possible and squeeze every single pip out of the criminals? In other words once BE+1 trail the trend till it bends.

Just an idea.

Cheers
Brilliant idea, and not just here.

Absolute bastard to code. Leave it with me.

  • #991
  • Edited 6:14pm Jan 30, 2011 5:16pm | Edited 6:14pm
Steve, Pipstrumpf, jcs, Astral, Scoobs et al
After reading jcs's report on the Difference between running with the Scoobs Margin Filter on versus off.....And since I have never used it, I have started a public Fxbook account to track FTLR's progress with the filter on for all trades.
jcs's report was an eye-opener for me and I want to find out if my live account FTLR needs to be replaced since it does not have the Scoobs filter on it....

Have a great trading week

whip

P.S. Click on the link below to follow the progress

http://www.myfxbook.com/widgets/81229/medium.jpg
  • #992
  • Jan 30, 2011 11:02pm Jan 30, 2011 11:02pm
Quoting hiredwhip
Steve, Pipstrumpf, jcs, Astral, Scoobs et al
After reading jcs's report on the Difference between running with the Scoobs Margin Filter on versus off.....
Hi Whip
Is this still on Daily timeframe ? .... EDIT OK, Just noticed it tells us this in the General tab
Which broker are you using ?
  • #993
  • Feb 2, 2011 12:26am Feb 2, 2011 12:26am
Steve

One thing I have noticed trading the 4 hour charts is that at times with the fib on short candles the ea triggers a trade with a very small profit target
The spread often exceeds the profit in these cases and the trade closes at a loss, or even worse tears off in the other direction giving a nonsense risk/ reward factor

When you next look at updating can you consider a way to filter out these small profit trades ... a user defined minimum profit, or similar ?

As always many thanks
  • #994
  • Feb 2, 2011 12:44am Feb 2, 2011 12:44am
Quoting jcs
When you next look at updating can you consider a way to filter out these small profit trades ... a user defined minimum profit, or similar ?
I have added this to the to-do list.

I shall be giving ftlr some attention soon.

  • #995
  • Feb 2, 2011 8:56am Feb 2, 2011 8:56am
Quoting hiredwhip
Steve, Pipstrumpf, jcs, Astral, Scoobs et al
After reading jcs's report on the Difference between running with the Scoobs Margin Filter on versus off.....And since I have never used it, I have started a public Fxbook account to track FTLR's progress with the filter on for all trades.
jcs's report was an eye-opener for me and I want to find out if my live account FTLR needs to be replaced since it does not have the Scoobs filter on it....

Have a great trading week

whip

P.S. Click on the link below to follow the progress

http://www.myfxbook.com/widgets/81229/medium.jpg...
Whip,

Are you using any trade mangement with this?
  • #996
  • Feb 2, 2011 10:44am Feb 2, 2011 10:44am
Quoting indy360
Whip,

Are you using any trade mangement with this?
Yes......BE=20....BEP=10.....JS=30.........Partial Close=Closing .1 Preserving .1
TS=30...I will add this to Fxbook General Tab.......The only difference between this setup and the way I normally run the bot
is the Scoobs filter =ON

whip
  • #997
  • Feb 2, 2011 11:39am Feb 2, 2011 11:39am
Quoting hiredwhip
Yes......BE=20....BEP=10.....JS=30.........Partial Close=Closing .1 Preserving .1
TS=30...I will add this to Fxbook General Tab.......The only difference between this setup and the way I normally run the bot
is the Scoobs filter =ON

whip
Thought so, was just checking!
  • #998
  • Feb 4, 2011 1:21am Feb 4, 2011 1:21am
Can anyone tell me if it is right to have the bot open a short eurjpy trade on 11 Jan. and then today open 17 long trades.
I have the bot running on demo OOTB for a number of weeks, and performing admirably. Have not seen this behaviour though?
Any comments would be appreciated.
PipBear
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy 4feb11.gif Size: 132 KB
  • #999
  • Feb 4, 2011 5:28am Feb 4, 2011 5:28am
Quoting PipBear
Can anyone tell me if it is right to have the bot open a short eurjpy trade on 11 Jan. and then today open 17 long trades.
I have the bot running on demo OOTB for a number of weeks, and performing admirably. Have not seen this behaviour though?
Any comments would be appreciated.
PipBear
This is a classic example of another of my oft-repeated mantras: in Forex, if something can happen that is bad for you, then it will happen sooner or later.

Here is another of my of-repeated mantras: MT4 is utter crap.

What happens in these situations is this:

 

  1. an ea sends a trade
  2. there is a delay in the trade appearing in the platform's memory
  3. the ea spots that there is a trade trigger, fails to find an existing open trade, and so loops back to 1)

Ftlr predates some of the techniques I have acquired to combat this atrocious behaviour, so I will add some of it this weekend.

I have a serious thought for you. After sending a trade ftlr sleeps for one minute to give the platform time to register the trade that has been sent to your criminal's server.

The fact that ftlr sent multiple trades indicates that it took over a minute for your criminal's server to return the trade to your platform. Don't trade live with these schysters, will you?

  • #1,000
  • Feb 4, 2011 5:32am Feb 4, 2011 5:32am
Quoting PipBear
Can anyone tell me if it is right to have the bot open a short eurjpy trade on 11 Jan. and then today open 17 long trades.
I have the bot running on demo OOTB for a number of weeks, and performing admirably. Have not seen this behaviour though?
Any comments would be appreciated.
PipBear
which broker do you use?
thanks
p.s. i have several ea's running with alpari since about 1 year. so far no probs.
meine augen sind die sterne
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