Indicators development for T101's not very simple method

Don, I am so sorry to hear about your bad fortune.

Your contributions to this system and in fact this forum has helped many traders, including me..... For that I say Thank You.

As has been mentioned hundreds of times before.
Emotion is the biggest downfall of any trader.....Especially if a trader is reliant on his trades as his sole source of income.

Demo trading is unfortunately the biggest culprit that leads to many traders downfall. Do not get me wrong, it is great to learn all the different strategies till you find one that works for you,
But the reality is that there is a vast difference between the two.
Nothing in Demo can prepare one for the hiccups of Live trading.(Re-quotes and definitely a 100% increase in emotion)

I know, because I have blown my fair share of accounts in my first couple of years in trading.

I now try to analyze every trade before I take it....i.e Why am I taking the trade?, What is the trend?, Is this to be viewed as a retraction or can it be a trend change?, Where is the closest Pivot Point or Major Support/Resistance? I trade both ways, but will place the minimum Lot size if it is against the trend and add more trades if it progresses in my favor.

I try not to place a Sell trade at the bottom of a price movement or a Buy trade at the top of such a movement.e,g The chance of a Sell trade at the Top of a price movement is more likely to work out, even if the price continues on its way up, the chances for a retraction to close on BE or a few pips profit is greater than if you place a Buy trade at the Top of such a movement and the price turns around.After 2 consecutive Losses I either close my platform for a couple of hours, or I start again with minimum Lots.
My rule as to Lot size is a maximum of 0.1 and max. risk 5%

I exit my trades earlier than most as my philosophy is that a few pips in the bank is better than none. And one is seldom, if ever able to ride a trade to its max.

Sorry for waffling... just thought I will share some of my thoughts in case you decide to carry on.

Regards

You seemed to be turning away from the Cross? Learn from the Lord, it purifies the soul and lightened your burden. Offer it up for the salvation of souls. I'll be praying for you.

Edd

Dont give up brother. Forex is a big scam for those who are not aware. I suggest trading on higher time frames. Go back to basics like the J16 thread. Those guys have been consistently profitable for years. Think about what your saying in regards to MM targeting your positions. Everyone knows they do it but then the question arises, "How to overcome this problem?" Higher timeframes may be the answer for you. Its easy to target lower timeframe stops because manipulating the price at that level is alot easier than manipulating daily prices. A 20-30 pip spike is nothing on the daily. Go back to demo for a few months and come up with a different approach to the market and eventually you will succeed. Good luck mate...

Hey Disbellj, even tho i don't post much, (because i am new to forex) looking back, you have contributed alot to this forum, so dont let all your hard work go to waste. Quiting is not an option in the army of God. When u fall, u get up, and learn from your mistakes and build up from there, because there is no room for failure in the army of God(only heads, not tails). Forex is just like any other business,so if u really want to succeed, it requires alot of work, but once u master it the rewards are great. Just think, even if once person has been able to make it in the forex, then why can't u, nobody is an expert in this business, the ones who succeed only do because of their experience. So if u really want it u can also make it. This is my mentality towards everything in life(its all about passion) and the right frame of mind, coupled with disciplined money managment, you'll get there, don't give up buddy. i too am still learning just like many of us.

Thanks guys. I'm not giving up. Needed rest and meds. Last week I consider started with trading, lost 30% one day, gained 30% the next morning in a few hours. Found what worked, what didn't, forgot to set my rule to keep me out of ranging trades and the result seen is from an EA performing a trending strategy in a ranging market, by my definition the Lord's given me. The loss is nothing that can't be overcome. I trust the Lord will make it so. For one, I do not use a stoploss unless I want to manually trade ranging periods. I haven't met a robot or made one that can scalp like I can manually. For trends, small lots stacked as price moves in direction with trend, with no stoploss, is what I find best. Anyways, I haven't given up, but definitely needed rest, and was done for the time when I said it. I would have been stupid when I awoke and saw my account being diminished to let it continue. And it wouldn't have been wise for me to try and trade manually in that state either. Last week was mostly no sleep, testing, coding, refining, getting tired, making a mistake I paid for, but I have no choice but to continue. I am a Forex trader.

Kind regards,

Don

Don!!!

that is the spirit, the one that lives in you is irrepressible, though shaken but not moved.

Take a rest, get up and keep moving you are almost there, the next process is dealing with yourSELF, by this I mean emotions, and that is achieved only when you are able to place your trade and turn your back and walk away knowing there are only two things involved, i.e:
1. loose 2% of the account OR
2. gain profit into the account no matter how small
not until you get to this level of maintaining a kind of indifference because you have prepared your mind for that, you have a lot of shocks coming in your FX journey.

this business is purely that of a play upon ppls psychology ... the only weapon to prevail against this demons of greed and fear is keep your risk very low so that even 3 losses on a string do not get to you

kos

... and Don

was just wondering how possible is it to loose 40% of an account in half a month, if you are doing the same thing as I do here, anyway if I could see the history of such account I may be able to know what to say more.

OR are you not doing the same thing I do with the single pairs, I do EURUSD alone since start of june and its been good

+ Please hold fast what you have (salvation) let no devil collect it from you in the name of any secret society don't exchange your soul for the whole gold in this world PLEASE.

kos

Kos,

There are trend trades and counter-trend trades. When ranging, either trend is turning or we have counter-trend trade. Counter-trend trades didn't work out except in strong trend. Adding mini lots gained a lot in a few hours in trend. Doing the same took many more hours to lose the same amount in ranging. Using stoploss in ranging didn't work as broker could easily tell I was over-leveraged, because not putting position on in increments.

So I have tested 3 types of trading with HAS indicator, and for me, on trades going with trend when height of HAS candle BODY is increasing (trending) and holding the whole trend (until color turn) looks most profitable.

Next would be scalping by closing trades when counter-trend starts, and starting new trades when price starts trending again (re-entry on retracement).

No matter how you do it, using candle BODY height of HAS (which is really two moving averages on higher TF that is smoothed on lower timeframe if using mtf version), or using difference between moving averages (it's all moving averages, like NovaCode momentum, which is same technique as MACD main line), we can visually see a narrowing or widening happening and make judgements, even using these lagging indicators.

I thank you. See attachments that show buy lines and sell lines from indicator I made, and see how setting different number at bottom (e.g. 3, 5, 10), that there are more or less buys and sell entries. BUT one could lose a good amount of money when range of HAS BODY is like 3 pips, whether stacking small lots or using stoploss to max mm, like I've shown. Problem is, you can't see the good trades easily. It was around trade number 750 on Thursday (e.g. 9 AM EST MB Trading), which can be easily seen in screen shot I took, as well as the almost 30% gain/642 pips that day I had in that short time.

What I noticed was this was June 9th, not last Thursday, but Thursday before that. So I basically had a week of no sleep, no taking care of myself, etc. that passed by without me knowing while coding and testing since then. No wonder I made bad decisions, huh? LOL

What do you think?

Kind regards,

Don

You are 100% right Kos. One needs to have a firm frame of mind and belief, because it is a game for the stubbornly wise. This is why many are bound to failure in the forex. Even if they are given the best and most profitable system. It is imperative that we stick to what we know works(that which we know to be true due to experience and or belief), and it also pertains to life in general. If anything, the market should show us how to be vigilant and take losses accordingly, that means cut your losses short as soon as your risk amount is breached, yet we must continue to stick to our game plan. Again a good money management technique is critical.

So hang in there DisbellJ

I agree that good MM is essential, but it must be used sensibly.
It must not be a case where you decide 2% is the max. loss without the consideration of a few factors.

I mean how often do you hear traders saying that their SL of say 2% was hit & then the price turned around?

If my max. DD of say 2% is about to be hit, before I consider closing my trades I will first check the charts for the following:

a) Is price nearing a Pivot or Major Trend Line, where a bounce is likely to occur?

b)Consult the indies that show overbought or oversold zones and if a couple of them is showing that a likely change could occur, then ride it a bit longer.

c)Is a consolidation of the price taking place?

d)etc. etc....

I am sure that most of you do trade this way.

Think logically.

Regards

One could also decide to forego the type of indicator I made and use Semafors with HAS indicator used for trend. In the attached pic, I used 10 pip bricks and clearly see from left to right:
1. Red HAS, and top Semafor 1 to sell from.
2. Blue HAS, and botom Semafor 1 to buy from.
3. Red HAS, and top Semafor 3 to sell from.
4. Red HAS, and top Semafor 1 to sell from.
5. Blue HAS, but no bottom Semafor to buy from, so Blue ignored.
6. Red HAS, and top Semafor 1 to sell from.
7. Red HAS, and top Semafor 2 to sell from.
8. Red HAS, and top Semafor 1 to sell from.

Any of these, followed by entry on break of last candle high/low, would have been profitable - and get you in before the last indicator I showed would.

Also, for someone who says they don't want to risk the same at bottom of trend as at top, they can easily choose to not use Semafor 1 and 2, and only use Semafor 3. This way, as trend progresses away from Semafor 3, stoploss gets larger, and lots gets smaller, while risk percent stays the same. I guess I have a larger appetite risk than many, and see no problem with it, given what I see, which I have now shared. Of course this is given freely, but if I were to mention the D word, some would be like "How dare you try to make money from someone else!!!" and get me kicked off the forum, so I will not say that word. Yeah, pay no attention folks. Crazy lunatic talking LOL. Info I'm sharing is not worth plug nickel LOL.

Finally, I may use 1 pip, 3 pip, 5 pip, 10 pip, 25 pip, etc. range bars, and may use range bars or timeframe for trend. I will not say exactly, and will change up, for one reason - I don't want to always use the same risk or pattern. This gives me one more edge. Also, as one may see in the pic, I'm not even using Semafor but last swing high to calculate sell stoploss. I can choose to do either, so I can use last Semafor 1,2,3 or last swing high/low, and choose to add a "PipPad" to that as an extra offset to add to stoploss in pips. Plus, with my MM, I won't hit margin call until I hit my stoploss if I use one, and I trade only one pair, so I really don't have to worry about "over-leveraging" as long as my entry is sensible. I take care of my entry, MM takes care of my risk, and I take care of exiting.

Of course, this is just one "system" that comes to mind I created and tested (given, it is one of the most profitable yet simple). But they all (winning systems) share the same characteristics. Enter on pullback/rally in trend.

Oh yeah, one more thing to think on: If you live in U.S. and are stuck like me with 50:1 leverage, and can only really use less than that realistically, we are still using less leverage than the players who won big in crash of 2008 (you know who they are - they are the "too big to fail" banks who lied about profits they made in each direction, owned by Federal Reserve private families, companies who bet against their own customers, the Fed families that made money during the crash, faked losses for those companies (no big bank trader is that stupid to have lost during that WHOLE crash as they say these big banks did, although their customers certainly did, especially when they DRIVE the market), then robbed the country in broad daylight, etc.). Will I feel bad for taking money from any of these folks and re-distributing it to good causes all over the world? Not at all. I see it as justice. Anyone want to join in, feel free. I do this in the name of Jesus, the Christ, the Messiah, the God who does care for the injustice He sees on an ongoing basis, and His children are sick and tired of it too. He is going to make some changes, and use this system set up against Him to do it. And I am only one who He will use to do this. All glory to God the Creator, who alone is worthy to rule this world. May all man be liars and He be true.

Kind regards,

Don

Hi all,
With all due respect, I hope that I am able to get a specific advise or answer as to how to avoid or filter trades when market going side way. Based on Kos' setup, candle bars with HAS for higher time frame direction is a good start, but it is like any simple system such as candles with moving averages, no matter how you cut it, you cannot avoid whipsaw when market going sideway. Of course, I am not looking for holy grail here. From what I have gathered so far,
1. Kos suggested to wait for retracement after HAS has turned color. This approach is safer, but one may miss some strong move. It will however cut down some whipsaw.
2. Dryclean has included a few more indicators such as Wellxama, square, etc. which I find them too short term or transient to be effective (no hard feeling Dryclean, I might be totally wrong in interpreting your indicators).
3. I resort to use GJ as a reference to decide if the turn of HAS is truly a real turn of direction, and I find that so far this is a more accurate approach.

If anyone has any other or better way to reduce whipsaw situation, I would appreciate your kind help to share your thoughts and comments.

On the 3rd approach I mention above, one cannot help but to compare trading GJ x 14 versus trading 14 pairs of the basket, and the result seems to be better for GJ x 14 (am still testing). Again, I am not here to pour cold water on anyone or any approach, please take this as an objective discussion as I am truly at the juncture of finding which way to go.

Kind regards and many thanks .....

Hi Guys

Thank You all for a great thread.
I've run into a problem: My broker changed the currency denomination overnight from 6 letters to 7 letters - adding a b in the end of all symbols (eg. previously EURUSD, now EURUSDb).
Using the t101_indy_pricehistory_v3-dnk_donfix14.mq4 indicator the offline chart now says 'Waiting for update'.
I've tried to add a 'b' to all currency pairs in the code - but with no luck so far.
Does anyone of you great programmers have a simple and reliable solution to this problem?
Can You write a short piece of code that I can paste into the indicator and on all the other scripts (haven't tried to fix it yet on BuyAll and SellAll scripts), and make it work on the new 7-letter symbols.

Cheers
Tomas

Tomas,

Put in declaration of global variables at top of indicator or EA:
string PairSuffix;

Put definition of global variable at top in init function. Variables defined in init function are initialized once upon loading indicator or EA (whereas variables in start function are called every tick that comes in from broker):
PairSuffix=StringSubstr(Symbol(),6,StringLen(Symbol())-6);

Now if you need to be specific, instead of using Symbol() in start, you may want to make another variable, maybe named PairName, and define it in init function as:
PairName=Symbol()+PairSuffix;

Now, since you've made a new variable, you need to define it either locally or globally. All this means is that if other functions outside of the one you're in needs access to the variable's information, then it needs to be made a global variable. If not, then it can be defined locally inside the function. for instance, let's say you put everything in start function, you may have no need for using global variables. But of you're like me, and you have so much code in the indicator or EA, then you want to clean it up, you may make a lot of global variables and functions that use the global variables - functions that are placed outside of start or init function, that you call from one of those functions. Coders like to see clean code, although my code is laid out logically so that even a non-coder could become one pretty quickly (or so I've been told).

Kind regards,

Don
http://www.forexfactory.com/disbellj/

FFJason,

It has to do with money management. Buying multiple low leveraged lots when price is going in direction of trend. I risk 0.25% of account balance per trade, but only use the stoploss for Lot calculation using my MM. I don't really use it as a stoploss. If price goes against me, I smile because my next Lots will be placed at a better price

I gave the strategy on the post before yours, although I am a scalper that is very comfortable on M1 timeframe, and the Lord has allowed me this morning to finish the EA I've been working towards since 2007 realistically.

The Lord has given increase on my account, as I said He would. Here are the statistics:
Today (this is so far this morning, taking the account from minus to plus for the day, then week. I stopped my EA because I couldn't watch it and post this too):
MB Trading: 10.9%
FXDD: 6.7%
Total % Gain: 17.6%
MB Trading $ Gain: $143
FXDD $ Gain: $130
Total $ Gain: $273
MB Trading Pips Gained: 234
MB Trading Pips Gained: 184
Total Pips Gained: 418

Now I am not saying this to boast on myself. I am boasting in the Lord of the universe. His Name is in my title. Thanks and Glory go to Him alone. This is only the beginning.

Note: Realistically, if you wanted to do this with the basket, you would have to take that 0.25% risk per trade I do with a single pair, and divide 0.25 by number of pairs. So 0.25 / 14 = 0.017% you'd need to risk per pair per basket trade, to do what I do with a single pair. Also, I used M1 to get 0.25% per trade.

Glory be to God the Father, His Son/Word Jesus, and His Spirit alone.

Before anyone asks, at this time, I will NOT be giving this EA away. And this forum forbids selling

I have told what is needed to build one, and you even have Robert's multi-pair working EA to make a single-pair EA out of.

Kind regards,

Don
http://www.forexfactory.com/disbellj/

Thank You SO much Don.

I'll do that and give You a feedback when it is running again.

Thanks again and happy trading

Tomas

Don

thank the Lord Jesus you are at last happy again!!

kos

Kos,

Thank you for the strategy. As you agreed/said in email, thanks be to the Lord Jesus Christ alone.

Thank the Lord Jesus that happiness comes from happenings, but deep abiding joy - that passes understanding - comes only from knowing Him. The joy that passes understanding. So true. Even in the midst of trouble, knowing He wins in the end, and I win because of knowing Him, He's adopted me, and I am a joint heir with Christ as every other believer is, I am working FROM salvation, NOT for it. Makes ALL the difference. I KNOW I'm accepted in the Beloved. I have no need to guess. Scripture makes it clear. So I never doubted my salvation. Not in years thank the Lord.

Although I did struggle with my salvation for years before I had this steadfast assurance (I thought I had something to add to my salvation, but that's not true), but it came down to was:

Was I going to trust what I felt or what He said, and I chose to believe what He said - about Himself the Creator, us His creation, our sin, His perfection, our salvation by grace and not works, that He was born of a virgin, lived the perfect life in my place, was hanged on a cross until dead to pay for our sins, buried, resurrected after 3 days because the grave could not hold Him, and His resurrection proves His substitution in my place was accepted by the Father and I will one day stand face to face with Him.

So He IS risen, ascended to Heaven in the presence of over 500 people after hanging out on earth for 40 days after His resurrection, teaching His disciples, setting up His church - showing He was alive.

He now sits at the Right Hand of the Father, will rule again one day soon, and it's time for people to get over their pride like I had to. Pride is the worst sin on earth. The only sin that would cause one to deny Christ. Lucifer's sin that got him and one third of the angels kicked out of heaven down to this earth where they presently preside. Pride is the original sin.

The only unforgivable sin is continual unbelief with the Truth Himself knocking on the heart's door by way pf the Holy Spirit, and a person continually saying that the Truth is a lie. For this reason, He will give them over to derision and believing a lie.

So to get to Hell, a person has to crawl over the cross, over the bloody body of Christ that was torn to shreds for their freedom and everlasting life, to the point of where His bones were ou of socket and He was not even recognizable as a man, beaten with a cat of nine tails with glass and metal embedded to do the utmost damage. THIS - instead of the alternative of them having to pay for their own sin by eternal separation from Him and His goodness.

God has done EVERYTHING possible for anyone to believe. If they desire truth, they shall find Him. Call out on the Creator and unburden your heart, anyone who is an unbeliever.

God has winked at sin of unbelief in the past, but now is the time for everyone everywhere to repent of their unbelief and turn to Christ, the ONLY answer to the world's problems, for He made it and us and know what we need.

Like I said, needed some sleep. Never doubted salvation nor lost my joy.

Also, you might notice my account stands at break-even right now. No worries

If it ain't broke, don't fix it

So I've went back to what I was using this morning instead of the messed up "fix" I used this afternoon.

Note: If someone is getting margin called, lower your risk percent per trade, then you can stack more lots. I tried using just Semafor 3's and not 1's and 2's, and it just made a LOT less profit. So went back to slowly building in the safest way possible so I can rest easy no matter what.

Edit: Account recovered for gain yesterday and also overnight. I updated EA last night to not scalp but to ride whole trend. For some reason, FXDD didn't get this change. So MBT traded last night not scalping, while FXDD did scalp. Result? Both about 6% gain overnight while I slept. But FXDD made 6 times number of trades MBT did (in fact MBT still in those trades). So while FXDD did make more, I still want to ride the trends and not scalp, because I saw scalping made me enter at a bad place yesterday, and losses were suffered, which wouldn't have happened if not scalping, so I turned that user input to false.

Note2: I also look at equity now in TradeExplorer here on FF at www.forexfactory.com/disbellj

Note3: This thing should trade trends and ranging periods both profitably.

Note4: No one needs an EA to grab pips everyday. doing this. It's easy. The setup I'm using has been given. Brokers who trade against me will soon, if not already, switch me from their bucket server to straight thru processing. This way, they get their spread and still make money and are happy, I get access to interbank (for my brokers don't want to trade against me or they'll lose), so everyone's happy (except maybe the big banks, but hey, it's the cost of doing business. I have to pay costs, and they will too )

Cheers

Kind regards,

Don

Hi Don,
Thank you very much for your reply. I agree with you absolutely that risk management is the utmost important factor in trading. I have come across systems which have only 40% success rate, but they are still profitable. It all boils down to risk/reward ratio and a good money management. I think a balance between success rate and risk/reward management needs to be determined. Thanks again for your help and am glad that you are back on track. God bless ...

Don,

Yes, you have thanked me once in CAPITAL LETTERS, let all glory be to HIM.

kos