Bread and Butter Trades

Hello!

I am a Newbie in this, only trading for 4 months, but I follow most thread in this forum with enthusiasm... (and I am getting less and less sleep becasue of it!).

My question is for SteveHopwood, who does most of those interesting EAs, or someone else with MT4 programming capabilities, like Squolou with his excelent dashboard: Is there a way to add other stuff to this Indicator? I mean, I can add Gold and Silver besides the usual Forex currencies, but I can't find a way of add US_Oil/UK_Oil, or CFD Indexes like AUS200 or US30. Of course I tried to add "AUS200" to the "Pair to Trade", but without positive results.

I know that they are too volatile and dangerous etc, but an experiment would hurt much in a demo account.

Thank you.

Hi Steve & Ibuks,

Many thanks again for sharing. The latest robot seems to be ticking along now.

As I was watching the CADJPY H1 pair, it seems that I would have taken a long position manually as the bid price retraces back to the 24EMA.

It was also above the H4 open and D1 pivot - see attached.

However as the spread for the pair is 6 pips, it was never triggered as the ask price never reached it - the ask line is 6 pips away on the chart)

Sell limit orders are fine as they would hit the bid price to open - it only affects buy limit orders as the chart only shows bid prices.

Ibuks, I know you said on the first page to set the buy limit at the 24EMA value, should we add the spread to the buy limit orders or leave it as is?

Have a great week trading guys!

Dunno whats wrong here for me - but the bot from post #261 is opening multiple trades (10-20 per currency pair) - broker: GOMarkets (Europe) - on the other hand the last bot from post #276 doesnt open any trade: Broker IBFX AU ?

So whats wrong ?

same for me , don't open trades, i am with alpari uk

Good morning!
Taken 20 pips a few minutes ago with eurusd and eurjpy
now I'm still waiting for EURJPY and EURUSD like in pics

Just a thought but have you changed the default setting of DisplayOnly_NotTrading from true to false? I had same problem so made the change, not taking any trades as of yet as the conditions are not right but from the code if set to true will not look for trades.

Hope this helps

Mike

I was watching this setup, but didn't enter. What other confirmation did you have to buy? Was it only the EMA24 crossover?

Hi,

i just read the hole thread and made my first demo-trades (one winner, one loser). for me the biggest problem is a suitable target and sl. the original sl could be very much if something happens in this crazy fx-world.
the idea with the adr is a nice thing but doesnt give me a nice feeling in the moment (because lot of range markets so the movement is missing). the problem with the 100 sl and 10 or 20 target is after some winners if you have one loser....
does anybody has a good idea for that?

but the "system" is nice and easy. i like it
sorry for my english. its only school-english and a long time ago

thanks

tom

I think it's a retracement model..maybe can give better results combine with other indicator like Fib ? so it have confluence factor before we enter the trade..just my idea anyway..

Good luck

guys.. something strange has just happened - the overall trend of e/d is up (W, D and H). However, a sell limit was generated on my demo and filled earlier today (which has now been stopped out at a loss).

Is this a possible bug with the autotrader EA?

First of all, many thanks to Ibuks, Steve, Squalou & The7 for putting together what looks like a very exciting EA.

I've found a trait that might become a problem, paticularly with smaller brokers.

With all pairs enabled, the EA is sending 4+ order modification requests per second.

Is there any chance we can sleep that process 30 seconds or so?

Possibly make it a variable to allow a trader to accommodate a criminal that continues to complain.

I haven't received a nasty-gram from my broker yet, but I'm pretty sure they're working on it.

Thanks!!

Franko

Dont think criminals will start complaining about that. Anyway, easy to solve, open de mql code and search for
Sleep(1000);//One second

And change the 1000 into something else (30000 if you want a 30 sec sleep for example)

@warsteiner72 thought about this, but ddon't know a good solution yet. I did came to the conclusion that the 100 pip sl should almost never get hit - i did a couple of times with me, but that was caused by a broken internet connection. The close position if closed, opened and closed under the ma like described in post 1 will almost always do the trick, the other sl is just in case the market goes wild.

About tp, i think trailing should do a good trick here, i don't know what kind of trailing, perhaps a shifted short ma (SMA 10 shift 5 or similar). Sometimes it catches the start of a good trend, where trailing can convert 30 pip profit into 200. Well, lots of stuff to think about

Anybody already tried running the ea multiple times on the same platform? Want to try other important ma's like the ones in ken's topic, but the platform crashes right after adding the second bot. Any solutions?

Cheers

Hi Steve,

Trading seems to be working well - 11 trades since I started yesterday, 6 wins, 5 losers, 100 pips gain.

There may be bugs in the calculations of SL and TP.

Of the 11 trades, 5 have TP Multiplier of less than 1, it should be closer to 2.

I have examined 2 pairs in particular, although profitable, both have TP Multiplier of less than 1 (see yellow highlights in attached):

EURJPY: EXPECTED ATR SL 0.27, ACTUAL SL 0.40
EXPECTED ATR TP 0.54, ACTUAL SL 0.32
EXPECTED TP MULTIPLIER 2, ACTUAL 0.80

EURCAD: same issues, both would have hit the expected TP.

Looking at the code, ATR was calculated fresh for both SL and TP, could this be where the bugs are?

In spite of this, the robot is chugging along fine.

I will call this EU trade my winner trade for the day.

I set a buy limit @ the 24ema, went out for about 2 hrs. Came back to get over 150 pips closed (1lot closed for 15 pips, another lot closed for 100 pips and another closed for 150 pips). I still have a small one running with 50 pips trailing.

This is the kind of trade we all pray for. But do they happen everytime?... NO. However, they happen often. The key is to keep at it until u can master the way u can best play it.

Happy trading.

If you're playing with your B&B settings, you'll find yourself deleting a lot of pending orders.

I found this EA...

http://codebase.mql4.com/7731

You HAVE to go through all of the options, set Magic Number to 0 & save a .set file (couldn't upload my .set file for some reason) for it to work properly.

Hope this helps!

Franko

Good trade Ibuks!, i would like to thank you for this amazing strategy and Mr. Steve of course for incorporating it into an EA, and The 7, Esquire, Danny, and all you guys who contributed to this thread. Thanks guys! Anybody catch the GBP/CHF, and AUD/CHF trades...very nice indeed

PS: I like how you guys protect your profit by partial closing trades and moving stoploss to breakeven. I'm going to start doing that myself. Could this be possibly incorporated into the EA in the future? Anyway thanks again for the strategy and all the feedback!

another one.. the overall trend of Eurgbp is up - D, W and H. But a sell order was triggered, filled and is now in some DD...

As I described previously - when IBUK mentioned his buy of the day - the autotrader placed a sell on my platform! I knew it should have been a buy.

Anyone else getting that...?

Nice Trading Ibuks

Attached is a picture of how the robot demo traded the same pair, got 35 pips.

Given that the robot did all my work, I am happy with 35 pips.

If the TP was based on the candle low, the position would still be open

Very nice system and very promising robot!

Seems like the bug is only on my version of the EA.

Galen, are you using the autotrader or the bounce EA? Are you using Steve's updated version from ealier today?

Yes, I always use the latest and greatest version for forward testing. You need to check the various parameters and change it to your liking before you turn it on - by default it does not trade - the safety catch is on

Change DisplayOnly_NotTrading to false if you want it to trade.