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Bread and Butter Trades

  • #101
  • Jul 29, 2011 12:51pm Jul 29, 2011 12:51pm
Having looked at a lot of trading methods, what Ibuk has done here is produced a trend trading method. Price goes below the MA when you are in a down trend and above the MA in an uptrend.

So basically you are entering a trade into an established trend or thats what you should be doing. So let look at how we might improve the system, using what we know as traders.

This is the first ideal set up to look for when a 24 MA crosses a 50 MA on the hourly, the trend is now down. So as this is the hour chart I am looking for hourly swings. My TP would be double my risk so I am risking 84 pips and targeting 168.

I also want to see movement ie in swing depth see here price moved away from the 50 MA then returned to it all in all a 90 pip move, this is very important for the system otherwise you get caught in congestions where the market is ranging through the MA. I was wondering would a trend channel be a useful filter in terms of giving direction say placed on the last three swings?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: signal to prepare short trading.gif Size: 52 KB
Click to Enlarge Name: signal to prepare short trading entry.gif Size: 52 KB
  • #102
  • Jul 29, 2011 6:39pm Jul 29, 2011 6:39pm
Many thanks to Ibuk, Steve and Squalou for sharing their valuable knowledge, experience and wisdom with us - very much appreciated.

To help me understand the system, I have coded a simple indicator showing the 24 EMA line with an envelope band set at a default of 20 pips away from it. Portions of the code came from Squalou's dashboard.

When you move your mouse over the envelopes, it will pop up the pip setting and price.

Hope you guys find this useful.

Have a great weekend!
Attached Image (click to enlarge)
Click to Enlarge Name: 20110729_eurusd_bnb.jpg Size: 112 KB
Attached File(s)
File Type: mq4 24emaEnvelopes.mq4   3 KB | 588 downloads
  • #103
  • Edited 7:00pm Jul 31, 2011 11:27am | Edited 7:00pm
Attached is the latest version.

ShowStats tells the bot to display the data with which it is working. I could not make sq's indi code work for me, so I have adapted the column/row stuff from one of the Basket With ... Balls ea's. You can chose your own colours and column/row start etc, so experiment to find the settings that suit your eyes. The distance from the EMA display colours are the same as those of sq's dashboard - goodness knows how.

'Spr' is the individual pair's spread. I include this so we can start to think about how to use this information. A one-size-fits-all max spread is a bit of a nonsense in a multi-pair trader. Maybe we need a max spread by groups setting, to interdict a potential trade, and delete an unfilled pending, when this figure is exceeded during the run-up to a major news release. We shall see.

SendIdentifyingComments allows us to send the time frame with the trade as a comment, so we can more easily tell which one triggered the trade. We will want to turn this off if this ea ever goes live.

Optional Filters
In recent weeks, I have picked up a couple of really useful hints re scalping:

 

  1. from mysticgenie: if the market is above yesterday's pivot then the bias is long, otherwise the bias is short.
  2. from Ibuks: if the market is above the H4 open price then the bias is long, otherwise the bias is short.

I have made much use of these and found them to be helpful. I have included them here; UseH4 and UseD1Pivot are the inputs that control these; note they are 'true' by default, so you must opt to turn them off. ShowStats will show the values the ea is working with.

The D1 pivot calculation is (High + Low + Close) / 3.

Note to coders
I have added a new function - bool OptionalFilters(string symbol, int type); this is called from within void LookForTradingOpportunities() and contains the filters I describe earlier. The function works by returning 'true' if all the optional filters stack up, or 'false' if not. The H4/D1 filters live here.

It is easy to add your own fav filters by inserting a call into the new function. Have fun playing.

In conclusion
At default, this ea takes umpteen trades that swamp the senses. I am going to cut the trading pairs down this week, and restrict myself to H1/H4 tf's - the majors, gj and a couple of others perhaps.

It could be that the best way of limiting trading is to introduce the usual balance etc filters from all my other bots. We shall see.

Attached File(s)
File Type: mq4 Ibuks Bread'nButter multi-pair auto-trader by SteveHopwood.mq4   42 KB | 417 downloads
  • #104
  • Jul 31, 2011 2:24pm Jul 31, 2011 2:24pm
Quoting SteveHopwood
Attached is the latest version.

ShowStats tells the bot to display the data with which it is working. I could not make sq's indi code work for me, so I have adapted the column/row stuff from one of the Basket With ... Balls ea's. You can chose your own colours and column/row start etc, so experiment to find the settings that suit your eyes. The distance from the EMA display colours are the same as those of sq's dashboard - goodness knows how.

'Spr' is the individual pair's spread. I include this so we can start to thing about how...
Great Stuff Steve,
Innovation at it’s finest….And always love to see that spread indicator….

Have a great week

whip
  • #105
  • Edited 4:46pm Jul 31, 2011 4:03pm | Edited 4:46pm
Quoting SteveHopwood
Attached is the latest version.

ShowStats tells the bot to display the data with which it is working. I could not make sq's indi code work for me, so I have adapted the column/row stuff from one of the Basket With ... Balls ea's. You can chose your own colours and column/row start etc, so experiment to find the settings that suit your eyes. The distance from the EMA display colours are the same as those of sq's dashboard - goodness knows how.

'Spr' is the individual pair's spread. I include this so we can start to thing about how...
Whaooo..... Steve, can I ever keep up with u??

Great update and idea. What a way to start a new month....

I did a quick backtest of EU daily and if tp is set @ 20 pips, you get 100% winning rate in the last 2 yrs. But I need to do more testing and forward testing to see how true this can be.

if anyone is very goodt at testing/backtesting, pls speak up and lets work out something.


I trade only eu, but with this, I will try to set it up to trade a few more pairs.

Many thanks mate.

Have a great trading week and month everyone....

Ibuks
  • #106
  • Jul 31, 2011 4:42pm Jul 31, 2011 4:42pm
Quoting Ibuks
Whaooo..... Steve, can I ever keep up with u??

Great update and idea. What a way to start a new month....

I trade only eu, but with this, I will try to set it up to trade a few more pairs.

Many thanks mate.

Have a great trading week and month everyone....

Ibuks
Ibuks, you evolve your systems purely to trade EU. They may well only work with EU. I write 'only' as though this is a criticism. It is not. If your systems 'only' work with EU, then that is all the rest of us need.

Everyone else: no harm in trying to extend into other markets - just don't expect them to be successful. EU has its own characteristics that Ibuks understands better than the rest of us because he concentrates on that market. Time will tell whether his system also applies to other markets.

  • #107
  • Jul 31, 2011 4:53pm Jul 31, 2011 4:53pm
Quoting SteveHopwood
Ibuks, you evolve your systems purely to trade EU. They may well only work with EU. I write 'only' as though this is a criticism. It is not. If your systems 'only' work with EU, then that is all the rest of us need.

Everyone else: no harm in trying to extend into other markets - just don't expect them to be successful. EU has its own characteristics that Ibuks understands better than the rest of us because he concentrates on that market. Time will tell whether his system also applies to other markets.

Hi Steve,

You may be right. However, I have been getting so many reports from my friends that trade other mkts and the results they get is also similar even sometime better than what i am getting.

The weird thing is that with the same principle, i trade S&P, FTSE and NQ and I get exact same result and that leaves me to guess that it may work on any mkt, however, we need to individually work out how to filter trades for the particular mkt we trade.

Happy trading.
  • #108
  • Jul 31, 2011 6:36pm Jul 31, 2011 6:36pm
Quoting SteveHopwood
Attached is the latest version.

  1. from mysticgenie: if the market is above yesterday's pivot then the bias is long, otherwise the bias is short.
  2. from Ibuks: if the market is above the H4 open price then the bias is long, otherwise the bias is short.

Hello Steve, I think there is a small bug in line 1190 (change is marked bold red):
Inserted Code
   //Potential sell trades
   if (type == OP_SELL)
   {
      //H4 open price
      if (UseH4)
      {
         price = GetH4OpenPrice(symbol);
         if (bid > price) return(false);
      }//if (UseH4)
 
      //D1 pivot
      if (UseD1Pivot)
      {
         pivot = GetD1Pivot(symbol);
         if (bid [b][size=3][color=red]>[/color][/size][/b] pivot) return(false);
      }//if (UseD1Pivot)
 
   }//if (type == OP_SELL)

PM me with coding requests and I'll probably put you on my ignore list
  • #109
  • Jul 31, 2011 6:45pm Jul 31, 2011 6:45pm
Quoting fxdaytrader_
Hello Steve, I think there is a small bug in line 1190 (change is marked bold red):
Inserted Code
   //Potential sell trades
   if (type == OP_SELL)
   {
      //H4 open price
      if (UseH4)
      {
         price = GetH4OpenPrice(symbol);
         if (bid > price) return(false);
      }//if (UseH4)
 
      //D1 pivot
      if (UseD1Pivot)
      {
         pivot = GetD1Pivot(symbol);
         if (bid [b][size=3][color=red]>[/color][/size][/b] pivot) return(false);
      }//if (UseD1Pivot)
 
   }//if (type == OP_SELL)
Thanks. Great bit of bloop-spotting. Me and my copy/pasting/failed_editing again.

I have updated the ea in my recent post and upload it here as well. If in doubt guys, simply download this version.

Cheers fxdaytrader

Attached File(s)
File Type: mq4 Ibuks Bread'nButter multi-pair auto-trader by SteveHopwood.mq4   42 KB | 415 downloads
  • #110
  • Jul 31, 2011 6:56pm Jul 31, 2011 6:56pm
Fixing the bloop that fxdaytrader spotted threw up another bloop in the comment-adding code. Fixed in the original post and here as well.

If in doubt, try throwing your hands up in despair.

Hey ho.

Attached File(s)
File Type: mq4 Ibuks Bread'nButter multi-pair auto-trader by SteveHopwood.mq4   42 KB | 550 downloads
  • #111
  • Aug 1, 2011 11:59am Aug 1, 2011 11:59am
Hi Ibuks, i want you to see this chart, can you tell me where i did wrong? i put my buy limit at the MA, and steel going down. thank´s
Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd.gif Size: 41 KB
  • #112
  • Aug 1, 2011 12:09pm Aug 1, 2011 12:09pm
Quoting sachigi
Hi Ibuks, i want you to see this chart, can you tell me where i did wrong? i put my buy limit at the MA, and steel going down. thank´s
Hi,

you have 2 emas on your chart...which one is 24ema?

If the yellow is 24ema, then....looking at the last 4 or 5 red candles....then the following would have happened:

1. Trade 1 to go long would have closed in a loss.

2. Trade 2 to sell the retest of 24ema would have given well over 100 pips.

Hope this explains it?

Cheers
  • #113
  • Aug 1, 2011 2:11pm Aug 1, 2011 2:11pm
[quote=Ibuks;4827371]Hi,

you have 2 emas on your chart...which one is 24ema?

If the yellow is 24ema, then....looking at the last 4 or 5 red candles....then the following would have happened:

1. Trade 1 to go long would have closed in a loss.

2. Trade 2 to sell the retest of 24ema would have given well over 100 pips.

Hope this explains it?

my 24 ema is the green one, price was above for more than 20 pips, when price touch 24 ema i going long but it don't make the reverse ang falling down, do you think this sistem is better in dayli TF?
Cheers
Santiago.
  • #114
  • Aug 2, 2011 2:45am Aug 2, 2011 2:45am
Hi folks,

do you get any trades with the new multipair version? I loaded it yesterday on my charts but nothing happened so far... Strange.

Best regards!
  • #115
  • Aug 2, 2011 3:07am Aug 2, 2011 3:07am
Quoting Meister81
Hi folks,

do you get any trades with the new multipair version? I loaded it yesterday on my charts but nothing happened so far... Strange.

Best regards!
Hi,

I was just looking at how to post the trades from my VPS. I configured it for eu,gu, gy,ej,uj,NU and AU yesterday evening. Waking up this morning...it has performed not badly at all.

I set the use 4hr and daily pivot to false and tp at 20 pips and trading H1, H4 and daily.

Closed a total of 157 pips so far.

Will try to figure out how to post it here soon.

Not a bad start at all.

Happy trading
  • #116
  • Aug 2, 2011 7:20am Aug 2, 2011 7:20am
Very nice system, thanks to you and steve for sharing. I was running the multi - pair trader and also did quite well. I don;t know what happen or if it was just me, a couple of trades went up and touched the 24, but did not take the trade , as for a GU trade last night. I believe it did not cover the ask price. and I had a winner going on gj and it went up pass the - 20 pips and returned to the 24 , but sold the sell order at the -20 pips , when it had a 100 sl? any thoughts

Thanks Again,
fishman356
  • #117
  • Aug 2, 2011 10:10am Aug 2, 2011 10:10am
Here is a trade I took. When the bearish candle was painting, I was already thinking that it will be a looser. I waited it out and got my pips. Dont be afraid of the mkt...lol.

Sometimes, I get losses, but it all comes down to the individual.
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-08-02_1602.png Size: 40 KB
  • #118
  • Aug 2, 2011 10:59am Aug 2, 2011 10:59am
Quoting Ibuks
Hi,
Closed a total of 157 pips so far.
Happy trading
Wow! Great thanks again to Ibuk and Steve for sharing this automated system.

I turned on the Steve's latest EA (no customization) and woke up (about 8 hours later) with the following:

21 trades
======
17 wins
4 losers

total pips gain: 344
maximum dd: -59

Very impressive indeed!
Attached Image (click to enlarge)
Click to Enlarge Name: IBUKS_EA.gif Size: 101 KB
  • #119
  • Aug 2, 2011 11:29am Aug 2, 2011 11:29am
hi All,

I receive this msg in the journal.

2011.08.03 00:24:53 Ibuks Bread'nButter multi-pair auto-trader by SteveHopwood NZDUSD,H1: zero divide

Is this normal? How do i know that the EA is working?



Quoting Galen
Wow! Great thanks again to Ibuk and Steve for sharing this automated system.

I turned on the Steve's latest EA (no customization) and woke up (about 8 hours later) with the following:

21 trades
======
17 wins
4 losers

total pips gain: 344
maximum dd: -59

Very impressive indeed!
  • #120
  • Aug 2, 2011 11:35am Aug 2, 2011 11:35am
Quoting Galen
Wow! Great thanks again to Ibuk and Steve for sharing this automated system.

I turned on the Steve's latest EA (no customization) and woke up (about 8 hours later) with the following:

21 trades
======
17 wins
4 losers

total pips gain: 344
maximum dd: -59

Very impressive indeed!
Good and very impressive start. I guess you are running for all pairs...right?? If u are very good on backtest, could u pls run a well documented one for optimisation? This will be very useful.

For the divide by zero error, pls ensure that u spell the name of the pair correctly. why not start by trying it on 1pair first and make sure u download the lastest one.

Cheers.

Happy trading
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