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Bread and Butter Trades

  • #321
  • Edited 5:16pm Aug 16, 2011 5:05pm | Edited 5:16pm
i sound really pathetic - but is it possible to update the same changes done in the autobot to the other bot so that we can use the same strategy on individual pairs? My metatrader allows me to use stocks and commoditites.

Actually, do you think its possible to add an option if the bot can be an autotrader or an individual one or is there no point - it would avoid you having to to update changes to two bots in the future?
  • #322
  • Aug 16, 2011 5:25pm Aug 16, 2011 5:25pm
Quoting Viv108
i sound really pathetic - but is it possible to update the same changes done in the autobot to the other bot so that we can use the same strategy on individual pairs? My metatrader allows me to use stocks and commoditites.

Actually, do you think its possible to add an option if the bot can be an autotrader or an individual one or is there no point - it would avoid you having to to update changes to two bots in the future?
Simply have one pair in the PairsToTrade list - I am only demoing this on EU at the mo, as I found trading lots of pairs led to losers.

  • #323
  • Aug 16, 2011 6:20pm Aug 16, 2011 6:20pm
Below is a great example of where I decided to take profit prior to the 2x target, as explained in my testing criteria. You see we had a nice run up and well above the 24 EMA, however look at all the resistance on the 4H chart at 1.6470. Entered at 1.6271, Exited at 1.6458, with the profit target sitting at 1.6549. This would be a case of taking the 187 Pips vs. taking a chance to get the other 91. This was the 4th run at 1.6470 and looks to be holding as of now and strong resistance. So far, this is the only profit trade I have manually pulled off.

Wish all good trading...

George
Attached Image (click to enlarge)
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  • #324
  • Aug 17, 2011 2:54am Aug 17, 2011 2:54am
Quoting SteveHopwood
Simply have one pair in the PairsToTrade list - I am only demoing this on EU at the mo, as I found trading lots of pairs led to losers.


Ahhhhh yes! Now why didnt I think of that..... Gonna see if it works if I put in some stocks and crude oil in the 'paitstotrade' list...
  • #325
  • Aug 17, 2011 4:05am Aug 17, 2011 4:05am
I think this..

and EURCHF..
Attached Image (click to enlarge)
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  • #326
  • Aug 17, 2011 4:31am Aug 17, 2011 4:31am
is anyone getting many trades with Zak's version?

I've had 1 eurjpy trade so far, which is open.

It appears to have missed a couple of trades where I would have traded it manually - anyone else?
  • #327
  • Aug 17, 2011 5:59am Aug 17, 2011 5:59am
Thanks Zak,

I will add this to the first page once I get the chance to be at my desk.

Happy trading.


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.
  • #328
  • Aug 17, 2011 10:12am Aug 17, 2011 10:12am
Thanks to all contributors here for another simple but powerful system - but particular comments on the dashboard which gives a great overview of the market. I'd like to highlight 2 further uses of this:

1. On the 5M timeframe it is excellent for highlighting momentum trades
Philip Nell has documented one version of a 5M momentum system, I have also been using Jim Pruitt's MAX system. The table highlights good entries - you may want to reduce to 20/21 EMA.

2. Later in the day its good for retracements/pinbars on H4. Look for high distances from the 24 EMA for possible retracements. I have made a lot of pips retracing GBPCHF today
  • #329
  • Aug 17, 2011 12:07pm Aug 17, 2011 12:07pm
Great observation. Thats part of the taking ownership process. welldone mate and I wish you many more pips.

Kindly show some of the trades and how u use it....that will be greatly appreciated.

Happy trading.

Quoting mandj19
Thanks to all contributors here for another simple but powerful system - but particular comments on the dashboard which gives a great overview of the market. I'd like to highlight 2 further uses of this:

1. On the 5M timeframe it is excellent for highlighting momentum trades
Philip Nell has documented one version of a 5M momentum system, I have also been using Jim Pruitt's MAX system. The table highlights good entries - you may want to reduce to 20/21 EMA.

2. Later in the day its good for retracements/pinbars on H4. Look for high distances...
  • #330
  • Aug 17, 2011 1:42pm Aug 17, 2011 1:42pm
Here are the details of that GBPCHF trade. My chart has EMA24 in yellow, EMA50 dotted red and EMA200 dotted turquoise. My adapted version of the dashboard shows +10 to -10 trades in yellow and shorter timeframes as well. Here the dashboard identified a large H4 movement from EMA24, I confirmed that on the GBPCHF chart - the white dotted curve of my regression indicator also confirmed that the price was likely to drop (Look at I-Regr indicator for regression analysis). The 2 trades on my live micro account gave me 162 pips. You'll also notice how the trade 30261111 bounced strongly off EMA50 just before reaching my 1.3020 target and was closed manually for 63 pips less!
Attached Image (click to enlarge)
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  • #331
  • Aug 17, 2011 1:50pm Aug 17, 2011 1:50pm
Quoting Ibuks
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.
Ibuks, I appreciate the advice and thanks for the system idea. It is only 3 days, but +896 pips to start! The market is a bit range bound now, which helps with the low volatility pairs I am using. Hopefully, we will get some good trending in the market in Sept and we can evaluate those results. I have had a few questions and found a few errors, so thought I would update my parameters from those questions:

1. Traded Pairs - USDCAD, USDJPY, NZDJPY, EURGBP, CADJPY, AUDNZD, GBPUSD, GBPCAD, AUDUSD, AUDJPY, NZDUSD, AUDCAD (missed this one on the first post) - 12 total pairs

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. - I have provided an example of when I will take profit vs. waiting for 2x ATR on post #323.

3. EA used - it is not from Post #110 as I originally stated, but from post #276, which is the last EA update from Steve.

4. Timeframes - 1H, 4H, 1D

5. Starting Account Balance - $2,500, 0.01 Lot Size

6. Test dates are from 8/15 to 9/14, then analyze results for conclusions on the next round of testing. So, I am not changing anything in the methodology until 9/15.

Hope that answers a few more questions out there. Happy trading to all...

George
  • #332
  • Aug 18, 2011 2:31am Aug 18, 2011 2:31am
Yesterday I described a use of an adapted B'n B dashboard in 5M momentum trading. Here's an example around London open this morning. Here are the steps:
1. Look for a trade with 0 in 5M column - ie sitting on EMA20
2. Bring up the chart - in this case EURCHF
3. Confirm that there is high probability price will rise - look at the signals box on left, regression indicator (dotted channel) and general PA
4. Set sensible SL/TP - with positive R:R
5. 23 pips in 5 minutes
Another example of making small adaptations to a very useful indicator
Attached Image (click to enlarge)
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  • #333
  • Aug 18, 2011 4:56am Aug 18, 2011 4:56am
Hi Mandj19,

Welldone mate...very nice adaptation.

I trade only the 1hr, 4hr and daily. I belief traders that love lower tf can look at this adaptation.

Very welldone and keep the pips flowing.

Happy trading

Quoting mandj19
Yesterday I described a use of an adapted B'n B dashboard in 5M momentum trading. Here's an example around London open this morning. Here are the steps:
1. Look for a trade with 0 in 5M column - ie sitting on EMA20
2. Bring up the chart - in this case EURCHF
3. Confirm that there is high probability price will rise - look at the signals box on left, regression indicator (dotted channel) and general PA
4. Set sensible SL/TP - with positive R:R
5. 23 pips in 5 minutes
Another example of making small adaptations to a very useful indicator...
  • #334
  • Aug 18, 2011 8:11am Aug 18, 2011 8:11am
Hi guys! I was trying this EA and now at lunch I realized I was having a tsunami of alert messages of breaking points and stop losses not going through.

The problem is that I am using Steve's MPTM to control curencies overall, with stop losses and break evens, etc. And with this EA they are fighting each other like mad!

I can't figure out a way to switch of this EA's stop loss, is that not possible? I even put Stop Los to zero, Switched "Use ATR" off and all and nothing worked.

If this is not possible, could you please add a parameter like "Use Stop Loss True/False" or something?

Thank you.

PS: If there is another solution, please enlighten me in the good direction, as I can't remember anything right now besides stop using MTPM, which I don't want to.
  • #335
  • Aug 19, 2011 1:28am Aug 19, 2011 1:28am
I have been asked for more details about my two charts (GBPCHF and EURCHF trades):
1. The summary indicator on top left is Signal Bars V71. Good for a general summary - it is well known and you can look it up.
2. The regression indicator: Look at www.mql4.com then codebase then indicators then find regression analysis v2 by barmenteros. Similar to I-Regr which is well documented. Creates a channel based on last N candles.
3. I use EMA20 (or 24)for position - in this method we are looking for price to be on this line then EMA50 and EMA200 for buy/sell direction. If price is on line it is distance 0 in the dashboard table.
Remember indicators are always just a guide - the regression indicator in particular should not be used in isolation. Also strict money management as always.
  • #336
  • Aug 19, 2011 3:04am Aug 19, 2011 3:04am
Hi, Steve and others,

I am getting the following email warning below from my broker for running the latest EA here using the default settings. Not sure if anyone getting this warning from other broker? Is there any thing we can do to reduce the number of requests send? I hate to stop this EA since it is showing very promising results.


"Dear client,

Our server logs show excessive amount activity on your trading account and this is causing unreasonable load to the servers. It is most likely due to an EA sending too many requests. Please, kindly check the EA’s settings and correct them to keep down the amount of the traffic.

Account: 568**

Best regards,
Customer Service

FinFX Trading Oy
Tainionkoskentie 14
55100 Imatra
Finland
www.finfx.fi"
  • #337
  • Aug 19, 2011 5:37am Aug 19, 2011 5:37am
Hi Bullrun,

Are u running the ea on ur live account already?

You get such an email only if u are running it on live account...I shld think.

I have never received such email and I have it running on several demo accounts with different settings.

If u are already on live account....u must be very very brave...lol.

I will advice u try and trade it manually very well first b4 trusting ur live account to an ea....experience has taught me well...lol



Quoting BullRun
Hi, Steve and others,

I am getting the following email warning below from my broker for running the latest EA here using the default settings. Not sure if anyone getting this warning from other broker? Is there any thing we can do to reduce the number of requests send? I hate to stop this EA since it is showing very promising results.


"Dear client,

Our server logs show excessive amount activity on your trading account and this is causing unreasonable load to the servers. It is most likely due to an EA sending too many requests. Please,...
  • #338
  • Edited 6:32am Aug 19, 2011 6:11am | Edited 6:32am
I agree with IBUK here. Personally, I think this strategy is amazing. However, the EA needs some attention I think - its not as profotable as it could be. Just my personal opinion.

I have had some good luck on demo with this method (not the EA). I look at the Daily and 4H chart trends and then only place my orders at the EMA line in the direction of the overall trend on the 1H chart.

I get less losses (probably less trades too, but thats not the poiny). This method is different to the original but we are making this our own :-)
  • #339
  • Aug 19, 2011 6:13am Aug 19, 2011 6:13am
Quoting BullRun
Hi, Steve and others,

I am getting the following email warning below from my broker for running the latest EA here using the default settings. Not sure if anyone getting this warning from other broker? Is there any thing we can do to reduce the number of requests send? I hate to stop this EA since it is showing very promising results.


"Dear client,

Our server logs show excessive amount activity on your trading account and this is causing unreasonable load to the servers. It is most likely due to an EA sending too many requests....

It's due to the fact that the ea keeps modifing the trade as the ma changes value - which is almost all the time. This can partly be solved by going into the code and change "sleep(1000)" into something like sleep(60000) (instead of 1 sec it will now be idle for 60 sec).
  • #340
  • Aug 19, 2011 6:44am Aug 19, 2011 6:44am
Hello FF traders. I have been following this thread, and went back to the beginning to try to understand. I have stopped trading the Euro/USD, a prior favorite of mine, because it has been stuck in a range for so long. I have moved onto gold, crude, and Russell, but I would like to get back to currencies. This group seems to have some impressive results with this system. Can the auto signals be generated using Ninjatrader v7.7? Is there a link where one can download the ATM and/or indicators, or is it totally manual input of the settings? Thanks in advance. Cad.
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