Bread and Butter Trades | Page 16 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Swiss Knife in cold butter (USDCHF, EURCHF, GBPCHF, AUDCHF, CADCHF, CHFJPY) 14 replies

High probability trade setups for day trades and swing trades 4 replies

Our DAILY Bread 30 replies

Bread and Butter Triple 21ema MTF 11 replies

Daily Trades = Lazy Trades Journal 7 replies

Attachments: Bread and Butter Trades
Exit Attachments

Bread and Butter Trades

  • #301
  • Aug 15, 2011 1:03pm Aug 15, 2011 1:03pm
Right ! I switched it to "false" - trading begann immediately !
  • #302
  • Aug 15, 2011 1:06pm Aug 15, 2011 1:06pm
Viv,

Is this the trade you're referring to?

If so, it looks like it was taken from the Daily chart (1440 in the comments), and it looks to be consistent with the strategy.

Franko

Quoting Viv108
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...?
Attached Image
  • #303
  • Aug 15, 2011 2:33pm Aug 15, 2011 2:33pm
Quoting Galen
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.
How strange. I never changed it to false... and its working!
  • #304
  • Aug 15, 2011 2:42pm Aug 15, 2011 2:42pm
Quoting fcbrants
Viv,

Is this the trade you're referring to?

If so, it looks like it was taken from the Daily chart (1440 in the comments), and it looks to be consistent with the strategy.

Franko
Yes - that's it. Sorry for being a twat guys.

Still debating on the best time frame here...

But one thing.. the eurusd trade from earlier on ... the trend is up for the daily but it still generated a sell...

Oh well..
  • #305
  • Aug 15, 2011 2:50pm Aug 15, 2011 2:50pm
Quoting magft
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
thanks for the tip...fixed
  • #306
  • Aug 15, 2011 2:59pm Aug 15, 2011 2:59pm
Hi Laimonk,

I think by looking at the first two bottoms of the bounce within a trend, you will realize that all the others bottoms of the trend are in a straight line (in line with the first two until the trend is broken). This you could consider as a support for the trend. You could then extented the line in advance to consider where you will place your buy limit for the next bounce.

The opposite would hold for sell.

Note however that I have been following these FX patterns for a couples years now but have not found a good trading strategy that works for me.

I am planning to follow this post on "Bread and Butter" and hoping that their strategy will work out. It looks positive so far based on the comments.

By the way, this is my first post "ever" on any forum, so wish me luck and I will keep you posted.

Newbie 2011
  • #307
  • Aug 15, 2011 4:44pm Aug 15, 2011 4:44pm
Quoting Viv108
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?
I have looked at the code and cannot see anything wrong - does not mean there is not anything wrong, just that I cannot see it.

  • #308
  • Aug 15, 2011 4:45pm Aug 15, 2011 4:45pm
Quoting Galen
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...
Here also, I have looked at the code and cannot see anything wrong - does not mean there is not anything wrong, just that I cannot see it.

  • #309
  • Aug 15, 2011 7:45pm Aug 15, 2011 7:45pm
Ibuks, looks like a great strategy and potential here. This type of system is my style of trading, which is reversal based upon entry. Also, enjoy counter or range trading. From reading the thread, I have made a few conclusions for my testing. First, if any of you follow the 10.0 Nanningbob thread on counter trend trading, Bob has defined volatility of pairs into categories. For this test, since we are looking for a reversal and our exit (loss) is based on the candle after the 24EMA break, I am looking for low volatile pairs. Secondly, if the 24EMA holds, planning on using the 2x ATR target hoping over the next few days it bounces up the EMA. Below are the specific parameters I am changing from the EA for the test:

1. Traded Pairs - USDCAD, USDJPY, NZDJPY, EURGBP, CADJPY, AUDNZD, GBPUSD, GBPCAD, AUDUSD, AUDJPY, NZDUSD

This gives me a good distribution of majors, as well as I am avoiding the EUR (except for the EURGBP) and CHF pairs at this point, due to the recent volatility issues with both of those.

2. Use TP at 2x ATR, SL at 1x ATR. If the trade survives for 24 hours, SL is moved to +5 Pips/BE. I did not see a BE function in the EA, so this would be a manual process. At times, if the pair stalls prior to the target due to support/resistance, occasionally will take profit, but in most cases I plan to be patient and use the EMA for support to achieve target.

3. Test from 8/15 to 9/14, then analyze results for conclusions on the next round of testing.

So, only changes I am making are the pairs traded, use of BE after 24 hours and an occasional TP prior to 2x ATR target.

If you want to follow along, I have create a myfxbook account for tracking, link is below. $2,500 balance, trading .01 lots. Looks fun and interested to see the results. Hope to get 150-200 trades for analysis.

http://www.myfxbook.com/members/geor...-system/149197

George
  • #310
  • Aug 15, 2011 8:05pm Aug 15, 2011 8:05pm
Also, thanks to Steve for his great work! I am using his latest update in Post #110.

One last criteria I am using in the testing is avoiding major news events. For example, if the GBP has retail sales (I live in the US) prior to retiring for the evening, I will pull off the GBP pairs until the next morning and the event has passed. Same with interest rate announcements, NFP, etc. It will take some management, but just a tweak to the EA each day to avoid entries during major news events.
  • #311
  • Aug 16, 2011 12:29am Aug 16, 2011 12:29am
Quoting SteveHopwood
Here also, I have looked at the code and cannot see anything wrong - does not mean there is not anything wrong, just that I cannot see it.

Hi Steve,

I think I found the problem, I was looking at the USDCAD H1 pending order on the chart, the TP:SL ratio looked wrong, TP was very close to the sell limit price and SL was far away, so I manually deleted the pending order.

Immediately, the new pending order appeared with the right 2TP:1SL ratio.

Eureka! UpdateFillPrices() only updated the price. As both TP and SL stayed the same, changing the price also changed the TP:SL ratio for each pair. This could be the reason for the varying TP:SL ratios for the reported 11 trades yesterday.

Just thinking out loud, if we are using ATR as SL, do we still need to use LookForTradeClosures()?
  • #312
  • Aug 16, 2011 1:53am Aug 16, 2011 1:53am
Exactly my point... take ownership of the strategy, find ur niche and run with it. Sharing ur niche can help u finetune it as others may give u suggestions u never noticed. However, avoid nay sayers. Take in all critics and ignore anything that try to pull u down.

Welldone mate.

Happy trading.

Quoting George Adams
Ibuks, looks like a great strategy and potential here. This type of system is my style of trading, which is reversal based upon entry. Also, enjoy counter or range trading. From reading the thread, I have made a few conclusions for my testing. First, if any of you follow the 10.0 Nanningbob thread on counter trend trading, Bob has defined volatility of pairs into categories. For this test, since we are looking for a reversal and our exit (loss) is based on the candle after the 24EMA break, I am looking for low volatile pairs. Secondly, if the 24EMA...
  • #313
  • Aug 16, 2011 7:55am Aug 16, 2011 7:55am
Should it read

if (TakeProfit > 0) take = CalculateTakeProfit(symbol, OP_SELL, price, tf);
//SL
if (StopLoss > 0) stop = CalculateStopLoss(symbol, OP_SELL, price, tf);

or

if (TakeProfit > 0 || UseAtrTakeProfit) take = CalculateTakeProfit(symbol, OP_SELL, price, tf);
//SL
if (StopLoss > 0 || UseAtrStopLoss) stop = CalculateStopLoss(symbol, OP_SELL, price, tf);

and should UpdateFillPrices() have a section to re-calc stop loss and take profit

if (!delete)
{
int tf = GlobalVariableGet(GlobalVariableName(cc) );
int digits = MarketInfo(OrderSymbol(), MODE_DIGITS);
double price = NormalizeDouble(GetMa(OrderSymbol(), tf, MaPeriod, MaShift, MaMethod, MaAppliedPrice, 0), digits);
if (price != OrderOpenPrice() )
{
double take, stop;
int type = OrderType();

if (type == OP_SELL || type == OP_SELLLIMIT || type == OP_SELLSTOP)
{
// TP
if (TakeProfit > 0 || UseAtrTakeProfit) take = CalculateTakeProfit(OrderSymbol(), OP_SELL, price, tf);
//SL
if (StopLoss > 0 || UseAtrStopLoss) stop = CalculateStopLoss(OrderSymbol(), OP_SELL, price, tf);
}
else
{
// TP
if (TakeProfit > 0 || UseAtrTakeProfit) take = CalculateTakeProfit(OrderSymbol(), OP_BUY, price, tf);
// SL
if (StopLoss > 0 || UseAtrStopLoss) stop = CalculateStopLoss(OrderSymbol(), OP_BUY, price, tf);
} // if (type == OP_SELL || type == OP_SELLLIMIT || type == OP_SELLSTOP)

bool result = OrderModify(OrderTicket(), price, stop , take, OrderExpiration(), CLR_NONE);
if (!result) OldPriceUpdateBars = 0;
}//if (price != OrderOpenPrice() )

}//if (!delete)

Love the technique, very simple and makes regular points. Thanks. Zak
  • #314
  • Aug 16, 2011 9:13am Aug 16, 2011 9:13am
Zak,

Any chance you could post your updated version of the EA?

I'm no coder & my attempts to update the code failed, as my updated version won't compile - 3 errors & 2 warnings - one of which was, "What are you doing here, you don't know how to write code!" I was stunned!

8-)

Franko

Quoting zak trader
Should it read

if (TakeProfit > 0) take = CalculateTakeProfit(symbol, OP_SELL, price, tf);
//SL
if (StopLoss > 0) stop = CalculateStopLoss(symbol, OP_SELL, price, tf);

or

if (TakeProfit > 0 || UseAtrTakeProfit) take = CalculateTakeProfit(symbol, OP_SELL, price, tf);
//SL
if (StopLoss > 0 || UseAtrStopLoss) stop = CalculateStopLoss(symbol, OP_SELL, price, tf);

and should UpdateFillPrices() have a section to re-calc stop loss and take profit

if (!delete)
{
int tf = GlobalVariableGet(GlobalVariableName(cc) );
int digits = MarketInfo(OrderSymbol(),...
  • #315
  • Aug 16, 2011 9:58am Aug 16, 2011 9:58am
Hi

I made a quick and dirty version to test the ATR feature only, it does not take into account any other friendly features like setting different TP/SL and other time frames.

I did this for testing H1 timeframe and the ATR TP/SL feature.

Changes made:
1. Spread added to buy limit orders.
2. ATR TP/SL hardcoded into orders (only atr will work).
3. UpdateFillOrders will update TP/SL based on latest ATR.

Bugs noted - current robot does not like updating GBPJBY TP/SL, still working on it.

Please use Steve's latest version when it comes out as I will be testing that too.

Cheers

Good Trading guys!
Attached File(s)
File Type: mq4 Ibuks Bread'nButter multi-pair auto-trader by SteveHopwood KK.mq4   48 KB | 296 downloads
  • #316
  • Aug 16, 2011 10:18am Aug 16, 2011 10:18am
Franko
I would honestly wait until Steve has a look as I do not know if the changes I have made are what he intended. If they are then I have no doubt he will add it to the version in post #1.
Attached File(s)
File Type: mq4 Ibuks Bread'nButter multi-pair auto-trader by SteveHopwood Z1.mq4   47 KB | 479 downloads
  • #317
  • Aug 16, 2011 10:51am Aug 16, 2011 10:51am
suggestion?
Attached Image (click to enlarge)
Click to Enlarge Name: Schermata 2011-08-16 a 17.49.46.png Size: 33 KB
  • #318
  • Aug 16, 2011 11:01am Aug 16, 2011 11:01am
Quoting Danyjoe
suggestion?
Interesting comparison!
Attached Image (click to enlarge)
Click to Enlarge Name: 20110816eurjpyh1.gif Size: 16 KB
  • #319
  • Aug 16, 2011 12:16pm Aug 16, 2011 12:16pm
I think this...
suggestions?
Attached Image (click to enlarge)
Click to Enlarge Name: Schermata 2011-08-16 a 19.16.01.png Size: 35 KB
  • #320
  • Aug 16, 2011 1:54pm Aug 16, 2011 1:54pm
Quoting zak trader
Franko
I would honestly wait until Steve has a look as I do not know if the changes I have made are what he intended. If they are then I have no doubt he will add it to the version in post #1.
Cheers zak. Much appreciated.

Guys, download zak's update if you are using ATR for stops and tp's.

1 trader viewing now