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

  • #1,001
  • Feb 4, 2011 5:44am Feb 4, 2011 5:44am
Quoting aserbfx
which broker do you use?
thanks
p.s. i have several ea's running with alpari since about 1 year. so far no probs.
Axis Trader, which has been fine for a couple of years now, live account.
PipBear
  • #1,002
  • Feb 4, 2011 5:52am Feb 4, 2011 5:52am
Quoting SteveHopwood
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...

Steve,
Thanks a lot for this explanation. I am sorry to advise that I have used this broker for a couple of years now, live and have had no problem so far.
Execution has normally been quite quick, not like some crims that seem to hold on forever before closing/opening your trade.
May be it is something unique with this bot and this broker.
Thanks anyway.
PipBear
  • #1,003
  • Feb 5, 2011 11:07am Feb 5, 2011 11:07am
I have done some work on ftlr today.

Here is the to-do list I built up in recent weeks; I have done nothing about 3 & 5. I am hoping to be able to ignore 3 and that dynamic entry will take care of the need for scoobs' filter altogether; we shall see. I have done nothing about 5 because just thinking about the coding gives me a headache.

 

  1. Bob style dynamic entry – auto-set entry according to Bob's volatility list. DONE
  2. Add extra security to the order send and a hoovering-up of duplicate trades function. DONE. This function runs at the start of each new M1 candle, so the processor load should not be too heavy.
  3. Add a delete-pending function to the Scoobs filter
  4. Add Pipstrumph's hedging - http://www.forexfactory.com/showpost...&postcount=971 Hedging to kick in at x pips beyond the L4 trade. I have used the re-entry line as it is adjustable by the user. DONE
  5. 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.
  6. Add a minimum profit filter – abort trade if profit target is below this number. DONE

There are likely to be bloops in both the logic and the code, so watch for inconsistencies next week.

A question/thought for the more experienced traders here, regarding Bob's volatility list. How quickly will this become out of date? Rather than using a fixed table, should we perhaps be using ATR to measure the volatility? All ideas received with appreciation.

Update in post 1.

  • #1,004
  • Feb 5, 2011 2:22pm Feb 5, 2011 2:22pm
Quoting SteveHopwood
I have done some work on ftlr today.

Here is the to-do list I built up in recent weeks; I have done nothing about 3 & 5. I am hoping to be able to ignore 3 and that dynamic entry will take care of the need for scoobs' filter altogether; we shall see. I have done nothing about 5 because just thinking about the coding gives me a headache.
[list=1][*]Bob style dynamic...
Thank you Steve
Will test next week. We shall see if my multiple trades occur again.
Will report findings.
Also #5 on your list would in my opinion be a good idea.
For #6, may be a test of the ATR may be worth trying. But perhaps some of the more experienced traders may think otherwise.
PipBear
  • #1,005
  • Feb 5, 2011 3:09pm Feb 5, 2011 3:09pm
Quoting SteveHopwood
I have done some work on ftlr today.

Here is the to-do list I built up in recent weeks; I have done nothing about 3 & 5. I am hoping to be able to ignore 3 and that dynamic entry will take care of the need for scoobs' filter altogether; we shall see. I have done nothing about 5 because just thinking about the coding gives me a headache.
[list=1][*]Bob style dynamic...
Hi Steve,
Those updates look great……Mucho thanks…..will load it up and try it out for the start of the week……

“A question/thought for the more experienced traders here, regarding Bob's volatility list. How quickly will this become out of date? Rather than using a fixed table, should we perhaps be using ATR to measure the volatility? All ideas received with appreciation.”

IMHO Bob’s List and Maxx’s List were both out of date in 30 Days…..I’ve thought for awhile and still think that ATR is the only true measure of a pairs volatility that we have at present because of the fact that it auto recalc’s with the market….When Bob’s and Maxx’s Lists improve to the point of auto recalc in some form ( if they do ) they can be used again if need be. I thought at one time Maxx was very close to this but he never finished it.
I’ll get down off my soapbox now and Steve thanks again for the updates.

Have a great weekend

whip
  • #1,006
  • Feb 5, 2011 4:03pm Feb 5, 2011 4:03pm
Quoting hiredwhip
IMHO Bob’s List and Maxx’s List were both out of date in 30 Days…..I’ve thought for awhile and still think that ATR is the only true measure of a pairs volatility that we have at present because of the fact that it auto recalc’s with the market….When Bob’s and Maxx’s Lists improve to the point of auto recalc in some form ( if they do ) they can be used again if need be. I thought at one time Maxx was very close to this but he never finished it.
I’ll get down off my soapbox now and Steve thanks again for the updates.
Ok, so let's look at this. After all, it is our bot and we can do what we want with it.

For once, it is even my own trading strategy, so we do not have an op's tender feelings to consider - and yes, before anybody points it out I do appreciate the irony of that last statement.

Here are my thoughts, taking a potential sell as an example:

 

  1. Atr from point x is short of T1: trade trigger is T1
  2. Atr from point x is short of T2 but higher than T1: trade trigger is T2

and so on.

So, what do we consider point x? The previous high? The previous pivot? Any other point?

  • #1,007
  • Feb 5, 2011 4:19pm Feb 5, 2011 4:19pm
Quoting SteveHopwood
Ok, so let's look at this. After all, it is our bot and we can do what we want with it.

For once, it is even my own trading strategy, so we do not have an op's tender feelings to consider - and yes, before anybody points it out I do appreciate the irony of that last statement.

Here are my thoughts, taking a potential sell as an example:

 

  1. Atr from point x is short of T1: trade trigger is T1
  2. Atr from point x is short of T2 but higher than T1: trade trigger is T2

and so on.

So, what do we consider point x? The...

Steve,
Here is an excellent article on ATR that is well worth the read IMHO....

whip

http://www.investopedia.com/articles...true-range.asp
  • #1,008
  • Feb 5, 2011 5:14pm Feb 5, 2011 5:14pm
Quoting hiredwhip
Steve,
Here is an excellent article on ATR that is well worth the read IMHO....

whip

http://www.investopedia.com/articles...true-range.asp
Yes, it is good to be reminded of the basics we think we already know.

The article provided the impetus behind the extra update tonight. The trade trigger now depends on Atr; the inputs should be pretty obvious.

As intended, the code works thus, taking a sell as an example:

 

  1. yesterday high + atr < T1: trigger is T1.
  2. yesterday high + atr > T1 and < T2: trigger is T2

and so on.

This might leave the most volatile pairs shooting for a trigger of T3 that is too far distant but we shall see. I have gone for the simplest coding; modifying the T3 to be the 200 would call for extra coding.

  • #1,009
  • Feb 5, 2011 5:19pm Feb 5, 2011 5:19pm
Quoting SteveHopwood
Yes, it is good to be reminded of the basics we think we already know.

The article provided the impetus behind the extra update tonight. The trade trigger now depends on Atr; the inputs should be pretty obvious.

As intended, the code works thus, taking a sell as an example:

 

  1. yesterday high + atr < T1: trigger is T1.
  2. yesterday high + atr > T1 and < T2: trigger is T2

and so on.

This might leave the most volatile pairs shooting for a trigger of T3 that is too far distant but we shall see. I have gone for the simplest coding;...

Good Stuff Steve,
Will load it up for Start Up........really interesting trigger setup

whip
  • #1,010
  • Feb 5, 2011 6:52pm Feb 5, 2011 6:52pm
Hi Steve,

It seems to me very hard to trigger any L4 trades with the new bot on the MT4 backtester. Finally after 2 hrs I have found a trigger point on EUR/JPY starting after the 8/11/10 onwards on a 4hrs time frame. I can clearly see a re-entry line drawn at x pips from the L4 level, but no hedge position has been send by the bot once price crossed that line.

Anybody else having this occurrence happening on the backtest?

Cheers
  • #1,011
  • Feb 5, 2011 7:03pm Feb 5, 2011 7:03pm
Quoting Pipstrumpf
Hi Steve,

It seems to me very hard to trigger any L4 trades with the new bot on the MT4 backtester. Finally after 2 hrs I have found a trigger point on EUR/JPY starting after the 8/11/10 onwards on a 4hrs time frame. I can clearly see a re-entry line drawn at x pips from the L4 level, but no hedge position has been send by the bot once price crossed that line.

Anybody else having this occurrence happening on the backtest?

Cheers
Hehe. It is damn hard to trigger L4 under any circumstances. Have you worked out how far into the red a trade has to go to get that far into the hole? We are talking hundreds of pips.

Well done for having found one. I have been using Recovery for months both live and on demo in a variety of bots and rarely managed it.

Not saying the code is correct mind; I pointed out that it might well contain bugs. 'twill be months before we have this confirmed mind. I hope.

Seriously, does anyone here really believe they would not have intervened manually a long time before reaching L4?

Frankly, I coded this stuff because I can, not because I think it is necessary.

I will look at the code again to see if I can spot a bug. Not because I think it is necessary, but because I can. Hedging is not intended to kick in until the market reaches a hypothetical L5.

  • #1,012
  • Feb 5, 2011 7:20pm Feb 5, 2011 7:20pm
Quoting SteveHopwood
Hehe. It is damn hard to trigger L4 under any circumstances. Have you worked out how far into the red a trade has to go to get that far into the hole? We are talking hundreds of pips.

Well done for having found one. I have been using Recovery for months both live and on demo in a variety of bots and rarely managed it.

Not saying the code is correct mind; I pointed out that it might well contain bugs. 'twill be months before we have this confirmed mind. I hope.

Seriously, does anyone here really believe they would not have...
I've also got a trade on D1 Charts, the EJ.....That's good enough for me....I'll start it on that.....Have a great weekend........Whip
  • #1,013
  • Feb 5, 2011 7:23pm Feb 5, 2011 7:23pm
Quoting hiredwhip
I've also got a trade on D1 Charts, the EJ.....That's good enough for me....I'll start it on that....
Sounds like A Plan to me.

  • #1,014
  • Feb 5, 2011 7:27pm Feb 5, 2011 7:27pm
Quoting SteveHopwood
Hehe. It is damn hard to trigger L4 under any circumstances. Have you worked out how far into the red a trade has to go to get that far into the hole? We are talking hundreds of pips.

Well done for having found one. I have been using Recovery for months both live and on demo in a variety of bots and rarely managed it.

Not saying the code is correct mind; I pointed out that it might well contain bugs. 'twill be months before we have this confirmed mind. I hope.

Seriously, does anyone here really believe they would not...
Yep very true, for me on 2 occasions L4's have been opened, EUR/USD plunging from 1.42 to 1.28 and the EUR/JPY rising after the BOJ intervention last year.
Great work Steve.

Cheers
  • #1,015
  • Feb 5, 2011 7:33pm Feb 5, 2011 7:33pm
Quoting Pipstrumpf
Yep very true, for me on 2 occasions L4's have been opened, EUR/USD plunging from 1.42 to 1.28 and the EUR/JPY rising after the BOJ intervention last year.
Great work Steve.

Cheers
Thanks. I am really looking forward to testing out the new features next week.

On a different note, this bot would probably not still be running but for whip. He has clearly shown his value as a trader, even if he does only trade for sport He couldn't have a few more vouches, could he?

Come to that, Pipstrumph deserves more than he has.

  • #1,016
  • Edited 8:15pm Feb 5, 2011 8:02pm | Edited 8:15pm
Quoting SteveHopwood
Thanks. I am really looking forward to testing out the new features next week.

On a different note, this bot would probably not still be running but for whip. He has clearly shown his value as a trader, even if he does only trade for sport He couldn't have a few more vouches, could he?

Come to that, Pipstrumph deserves more than he has.

Hi

Thanks for the improvements. Downloaded, however, I will implement it some time next week, since I have to see what I have to take off the demo (all of them belong to you). Original ftlr was reinstated live after a 6 week break. I hope with these improvements this turns out to be as good as the beast (profitable every month for the last 3 months with maximum DD of 2.1%)

I am very much honoured to vouch for an intellectual, experienced and innovative trader such as Pipstrumph. It is a demonstration of the inadequacy of the vouch system that such experienced and active traders such as Whip, Pipstrumph and toothman (to name a few) have less vouches than I.

Kind Regards
P.S. maybe my vouches are not for my trading skills but my ability to recognize a good thing when I see it.
  • #1,017
  • Feb 7, 2011 5:44am Feb 7, 2011 5:44am
Good Morning Steve,
After checking FTLR this morning I realized that the Scoobs filter had recovery shut down on the AUDJPY pair. This could become a fairly serious problem since the recovery system is designed to run without intervention e.g. overnight.
The AUDJPY was the only active trade I had, so the bot wasn’t over trading…..
If you have some time could you look at the Scoobs filter and make sure all is well and if it is maybe a rethink would be in order.
I have the newest update from post 1 installed and I’m on my usual 4 digit crook….$10,000 acc. with a balance of $10,283.63
Other than this minor glitch the bot is running well….

Have a great day

whip
  • #1,018
  • Feb 7, 2011 6:14am Feb 7, 2011 6:14am
Cheers whip. This is the Law of Unintended Consequences kicking in.

I have added a conditional to the Scoobs filter call. Either update from post 1 or:

 

  1. Find this line of code: [code]if (UseScoobsMarginCheck)[/code]
  2. and replace it with [code]if (UseScoobsMarginCheck && !RecoveryInProgress)[/code] and re-compile.


  • #1,019
  • Feb 7, 2011 6:16am Feb 7, 2011 6:16am
Quoting SteveHopwood
Cheers whip. This is the Law of Unintended Consequences kicking in.

I have added a conditional to the Scoobs filter call. Either update from post 1 or:

 

  1. Find this line of code: [code]if (UseScoobsMarginCheck)[/code]
  2. and replace it with [code]if (UseScoobsMarginCheck && !RecoveryInProgress)[/code] and re-compile.


Thanks Steve,
I'll find the line.....
  • #1,020
  • Feb 7, 2011 6:26am Feb 7, 2011 6:26am
Quoting hiredwhip
Thanks Steve,
I'll find the line.....
Look's good Steve,
Scoobs is back on!!!

Have a great Day

whip
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