Sixths trading - an EA by macman, Bob and Steve mk 2 | Page 60 | Forex Factory

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Sixths trading - an EA by macman, Bob and Steve mk 2

  • #1,181
  • Mar 21, 2011 7:46am Mar 21, 2011 7:46am
Quoting obnoxious2
This sounds like a great idea. But let me just say this. Having traded this system for the last 6 months you begin to realize that lots of pairs are highly correlated. Being that it is, the correlated pairs often are at the gold lines together so trades are opened together or very closely one after another. If one pair goes into recovery it is very likely that the other correlated pair will also. The beauty of this system is that even though you have pairs in recovery it will still open trades and lock in pips for profit on other pairs. Which is...
The snag with this technique, is that it is likely to produce, time and time again, a basket of highly correlated pairs. Perhaps clustering among the pairs may be studied, and then trade 1 pair per cluster/per direction...but, this may compromise profits to an unacceptable degree...Perhaps leave as is, but increase acct. balance(my preference, see TOB at work last week, weaving straw into gold)...All of this remains unclear...There is work yet to be done.
Vincit qui se vincit.
  • #1,182
  • Mar 21, 2011 8:22am Mar 21, 2011 8:22am
Quoting SteveHopwood
Coders, please have a look at the highlighted code. Do you think the original is where my logic failed and the fix should work? The commented-out lines are the original code.
It seems to me you are right - when selected trade IS primary, we do not need delete it a we can go for next one.
Pavel
  • #1,183
  • Mar 21, 2011 8:49am Mar 21, 2011 8:49am
Quoting maya007
It seems to me you are right - when selected trade IS primary, we do not need delete it a we can go for next one.
Cheers Pavel.

Latest update in post 1, with the new max pairs allowed filter - details in the temporary section. Be warned that the code might not be watertight.

The new function is bool PairsNotAtMaximumCheck() and is called from bool IsTradingAllowed() at trade-decision time.

The screen display only calls the function at the start of each new M5 candle to save some processor power, so might not always be bang up to date.

Scream out when bugs crawl out of the woodwork.

  • #1,184
  • Mar 21, 2011 9:09am Mar 21, 2011 9:09am
I have restarted my live platform and re-loaded TOB.

IBFX Aussie; cycling through the charts, I see heavy swap costs for AUD pairs and the one CAD (cadjpy) pair in one direction - not always a sell either. This is worthwhile watching out for, I reckon, as it will make a huge difference when a group spends a while in Recovery.

I have turned off trading in the direction of the negative swap on these pairs.

Would others care to report their findings? I can add a TradePositiveSwapOnly input for pairs that regularly show up as costing a lot to hold for a few days.

  • #1,185
  • Mar 21, 2011 9:32am Mar 21, 2011 9:32am
Shoud MaxSpread as below

extern double MaxSpread=120;

be considered differently on 4 digit and 5 digit broker?
  • #1,186
  • Mar 21, 2011 9:42am Mar 21, 2011 9:42am
Quoting smartest
Shoud MaxSpread as below

extern double MaxSpread=120;

be considered differently on 4 digit and 5 digit broker?
Yes.

  • #1,187
  • Mar 21, 2011 9:57am Mar 21, 2011 9:57am
Hi Steve

The other big culprits are the NZD pairs. for an overview of the rates visit http://www.ibfx.com/Trade/Swap-Rates.

I was wondering if anyone is successfully using the HIDE function in this EA, mptm or Brijon. The reason being as soon I turn on the hide function with BE and jumping SL the trade is closed. I do NOT advise you to do this with your live account.

Kind regards
  • #1,188
  • Mar 21, 2011 10:34am Mar 21, 2011 10:34am
Quoting astral77
Hi Steve

The other big culprits are the NZD pairs. for an overview of the rates visit http://www.ibfx.com/Trade/Swap-Rates.

I was wondering if anyone is successfully using the HIDE function in this EA, mptm or Brijon. The reason being as soon I turn on the hide function with BE and jumping SL the trade is closed. I do NOT advise you to do this with your live account.

Kind regards
I didn't notice them, because of the lethal spread on ibfx's nzd pairs.

I definitely feel another filter coming up.

  • #1,189
  • Mar 21, 2011 11:10am Mar 21, 2011 11:10am
I decided to add the positive swap filter straight away. Update in post 1; details in the temporary section.

  • #1,190
  • Mar 21, 2011 12:57pm Mar 21, 2011 12:57pm
Quoting obnoxious2
This sounds like a great idea. But let me just say this. Having traded this system for the last 6 months you begin to realize that lots of pairs are highly correlated. Being that it is, the correlated pairs often are at the gold lines together so trades are opened together or very closely one after another. If one pair goes into recovery it is very likely that the other correlated pair will also. The beauty of this system is that even though you have pairs in recovery it will still open trades and lock in pips for profit on other pairs. Which is...
Could I ask, which 6 pairs are you trading?
  • #1,191
  • Mar 21, 2011 2:56pm Mar 21, 2011 2:56pm
Quoting SteveHopwood

....I have turned off trading in the direction of the negative swap on these pairs.

Would others care to report their findings? I can add a TradePositiveSwapOnly input for pairs that regularly show up as costing a lot to hold for a few days.

Steve:

Just a thought about swaps, hopefully not a stupid one because I am not a coder. If it is possible, another option to deal with the swap issue might be to factor them into the AutoCalcTradeClosureLine function to adjust TPs.

Pete
  • #1,192
  • Mar 21, 2011 4:58pm Mar 21, 2011 4:58pm
Quoting ForexPete
Steve:

Just a thought about swaps, hopefully not a stupid one because I am not a coder. If it is possible, another option to deal with the swap issue might be to factor them into the AutoCalcTradeClosureLine function to adjust TPs.

Pete
It is, but I am talking about horrifying amounts of swap. The euraud sells I describe only opened 4 trading days ago, yet the positive swap is already equivalent to a half-way decently closed trade that simply opened and then closed quickly and easily at the gold line.

The negative swap on a corresponding buy is roughly double. It is far better to avoid the trades altogether than to accept this kind of hit.

Use the attached to show how scary some swap levels are. It is a script.

Attached File(s)
File Type: mq4 Display swap.mq4   < 1 KB | 340 downloads
  • #1,193
  • Mar 21, 2011 9:19pm Mar 21, 2011 9:19pm
Steve

I have updated to the latest version with the max pairs filter. Today it has nicely opened a new trade (in profit - yay!!), but I note that the screen message says "Pairs Trading 0". Am I misunderstanding this screen display or should it be showing the current number of open pairs??

Cheers
FK
  • #1,194
  • Mar 21, 2011 11:02pm Mar 21, 2011 11:02pm
Steve

There still appears to be an issue with the positioning of the re entry line at L3

If I understand correctly the code looks to the line for entry and not an internal calculation ... so this is important

See 2 screenshots ... re entry line is Red, Chas volatility indicates ReEntryLinePips at 175

First shows re entry line as drawn by bot after L2 trade is opened, at 50 pips from previous order ( incorrect I believe )
Second shows re entry line as drawn after I deleted it and made it redraw, at 176 pips ( at correct position I think )

Thanks

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 22 KB


Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 2gif.gif Size: 21 KB
  • #1,195
  • Mar 22, 2011 12:18am Mar 22, 2011 12:18am
Quoting jcs
Steve

There still appears to be an issue with the positioning of the re entry line at L3

Steve

Another, but slightly different

L3 re entry line again draws at 50 .... but this time ChaserL entrypips is showing 50 , with a volatility of 1150 ? ... is this correct, something looks wierd somewhere, or maybe I just dont understand this ChaserL logic

If I delete this time, it redraws in same 50 pip position

Thanks

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 2gif.gif Size: 25 KB
  • #1,196
  • Mar 22, 2011 3:17am Mar 22, 2011 3:17am
I've downloaded and installed the latest update, but it still won't backtest for me.
  • #1,197
  • Mar 22, 2011 6:14am Mar 22, 2011 6:14am
Quoting jcs
Steve

Another, but slightly different

L3 re entry line again draws at 50 ....
Just to confirm it has opened a L3 pending sell at this level .... I am guessing this is not as intended ?
  • #1,198
  • Mar 22, 2011 6:30am Mar 22, 2011 6:30am
In the DisplayUserFeedback() function, this bit of code:

Inserted Code
   if ([color="Red"]BreakEven[/color])
   {
      ScreenMessage = StringConcatenate(ScreenMessage,Gap, "Trailing stop is set to ", TrailingStopPips, " pips", NL);
   }//if (BreakEven)

Should really be:

Inserted Code
   if ([color="Green"]TrailingStop[/color])
   {
      ScreenMessage = StringConcatenate(ScreenMessage,Gap, "Trailing stop is set to ", TrailingStopPips, " pips", NL);
   }//if (BreakEven)

Otherwise, TOB will erroneously report that the TrailingStop is used/set when in actual fact, only BreakEven=true.

Cheers,

Roger
  • #1,199
  • Mar 22, 2011 6:40am Mar 22, 2011 6:40am
Quoting rthien
In the DisplayUserFeedback() function, this bit of code:

[code]...
Cheers again.

  • #1,200
  • Mar 22, 2011 8:26am Mar 22, 2011 8:26am
Quoting jcs
Just to confirm it has opened a L3 pending sell at this level .... I am guessing this is not as intended ?
I don't actually know why this is happening; there is a logic flaw somewhere.

I have tried adding a call to the re-entry pips calculation before TOB draws a post-trade send re-entry line. Let's see if this helps. Update in post 1.

One point for us all to bear in mind is this: if we manually delete a >l1 pending, the re-entry line remains and so needs removing manually.

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