I knocked together an ea that monitors the margin percent and will hedge the L4 at equal lots if the ml falls to 500. If this happens, then this pair will remain untouched until the lower level trades have moved to breakeven and closed. I will have sufficient margin left then to deal with them individually.
Sixths trading - an EA by macman, Bob and Steve mk 2
- #1,562
- Apr 10, 2011 1:48am Apr 10, 2011 1:48am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Steve did you see my theory in the NB 5.0 on hedging, when to get out (take the profit trade) and counter trade the hedge to reduce the negative? If I can find a decent foreign broker that allows hedging and penny trades I would like to test out my theory.
- #1,563
- Apr 10, 2011 1:50am Apr 10, 2011 1:50am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Steve, this looks like a great additional ea. Is it possible to make it available here at FF - or add it to TOB? I also have a margin level around 700% that I don't want to go much lower.
- #1,564
- Apr 10, 2011 2:08am Apr 10, 2011 2:08am
- Joined Jun 2007 | Status: Teach men to fish | 7,384 Posts
No I didn't Bob. If you have time, can you point me to the post please? I am always interested in in your theories. Cheers.
- #1,565
- Apr 10, 2011 2:13am Apr 10, 2011 2:13am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
I showed it in my NB 5.0 p. 264 posts 3946 and 3947. I also show it again on p. 267 posts 3991 and 3992 when someone asked me for help with their hedge. I showed what to look for and how and when to close his profit and when to reenter to reduce his loser. 7 more weeks of two jobs and then I am done. Counting down.
- #1,566
- Apr 10, 2011 4:49am Apr 10, 2011 4:49am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Please read Margin level hedge monitor EA in post 1.
- #1,568
- Apr 10, 2011 10:25am Apr 10, 2011 10:25am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Steve
Just let me know if you want this added to the manual, but at this stage I will leave out for now.
At some stage, I plan adding this to EOB (because I expect EOB to take the place of TOB soon), so I will get you to add this when I have done the coding. Adding it to EOB is not so simple as just coding a single-pair monitor.
All this is going to be beneficial to mptm users as well, as I will eventually port the filters and monitor to mptm as well.
- #1,570
- Apr 10, 2011 4:53pm Apr 10, 2011 4:53pm
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Thanks Steve.
I tested the ea when the markets opened; it appears to work ok. Try it on demo yourself just to make sure. The code is so simple that only an idiot could muck it up, but we all know how accurately that describes me.
Cheers
- #1,571
- Apr 10, 2011 4:54pm Apr 10, 2011 4:54pm
- | Commercial User | Joined Apr 2007 | 8,331 Posts
In the meantime, would everyone please dig out their hammers and wallop the living daylights out of all the xxxJPY pairs? 
- #1,572
- Apr 10, 2011 5:02pm Apr 10, 2011 5:02pm
- | Joined Nov 2009 | Status: Trader | 1,196 Posts
In the meantime, would everyone please dig out their hammers and wallop the living daylights out of all the xxxJPY pairs?
Kind Regards
- #1,573
- Apr 10, 2011 5:10pm Apr 10, 2011 5:10pm
- | Commercial User | Joined Apr 2007 | 8,331 Posts
I just had a thought, and I have no idea what to do about it. Apart from refraining from having thoughts, that is.
Many of us have 'grown up' together, in forex terms. We understand each other. We know how developments in one thread cross-fertilise with other threads.
I don't fancy being a newbie finding, say, this thread for the first time and trying to make sense of it all.
If anyone has any idea how to help them then sing out. Or am I guilty of being too soft?
Many of us have 'grown up' together, in forex terms. We understand each other. We know how developments in one thread cross-fertilise with other threads.
I don't fancy being a newbie finding, say, this thread for the first time and trying to make sense of it all.
If anyone has any idea how to help them then sing out. Or am I guilty of being too soft?
- #1,574
- Apr 10, 2011 5:13pm Apr 10, 2011 5:13pm
- | Commercial User | Joined Apr 2007 | 8,331 Posts
when all sensible voices where advising against it.
I seem to have something buzzing in my ears.
Those damn pairs will fall eventually. We know they will.
They will.
THEY WILL.
THEY WILL
- #1,575
- Apr 10, 2011 5:31pm Apr 10, 2011 5:31pm
- | Joined Nov 2009 | Status: Trader | 1,196 Posts
Who said that?...THEY WILL
Kind Regards
Who said that?
I seem to have something buzzing in my ears.
Those damn pairs will fall eventually. We know they will.
They will.
THEY WILL.
THEY WILL
What did we say, what goes up will come down ...... eventually.
Fundamentally looking at the EUR/JPY both the Euro-turbos and the Japanese are bankrupt. Both players are export countries/zones and rely on a cheap currency to dump there goods (same stuff such as cars and machinery etc), so the war of currency already started long time ago. The only difference Japan has over the Europeans is that the working class (producing goods) are much more loyal to there masters, but then again the USD is at the bottom at the moment. Interesting roller-coaster time ahead.
Cheers
- #1,577
- Apr 11, 2011 1:44am Apr 11, 2011 1:44am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
A few bugs surfaced after both box trades had filled and one of them eventually hit its tp. I am not sure that I have squished them all, but the latest version catches a few.
- #1,579
- Apr 11, 2011 10:40am Apr 11, 2011 10:40am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Steve
I don't know if I am daft but I have a situation where recovery kicked in but after the 2 second trade moves in the right direction the stop loss kicks in meaning if price moves back it will close out that second trade and the recovery will stop with the first trade still open.
This is with the newest Live TOB
It remains to be seen how successful this will be.
- #1,580
- Apr 11, 2011 10:56am Apr 11, 2011 10:56am
This should only kick in at L3 and 4, or L2 if using 1.2.6. It combats those situations where a L2/3 trade goes briefly into profit, then the markets resume their move against the trades, leaving these high-lot trades in danger of blowing the account.
It remains to be seen how successful this will be.