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Engulfing system

  • #41
  • Dec 14, 2011 11:26pm Dec 14, 2011 11:26pm
It does not matter what is the direction of last closed bar.
  • #42
  • Dec 14, 2011 11:29pm Dec 14, 2011 11:29pm
Quoting smilee89
It does not matter what is the direction of last closed bar.
The trade in post#36 is valid then?
" The fool who never traded Demo "
  • #43
  • Dec 14, 2011 11:45pm Dec 14, 2011 11:45pm
First trade of the day, perfect setup at GBPAUD, a 10 pip winner
Looks like the EA place TP considering the spread with it. This thing needs to be fixed.
Attached Image (click to enlarge)
Click to Enlarge Name: eng.gif Size: 14 KB
" The fool who never traded Demo "
  • #44
  • Dec 14, 2011 11:46pm Dec 14, 2011 11:46pm
Smilee89,
Did you tried or considered using BE + trailing stop with this system?
" The fool who never traded Demo "
  • #45
  • Dec 15, 2011 12:01am Dec 15, 2011 12:01am
Quoting Aztrader2
Hi Smilee,

It seems a nice & simple system, based on sound principles of price action (but better call them Outside Bars..... ) ....
But I don't understand the MM. It seems to me that Risk/Reward ratio isn't so good.... we could have far more than 15 pip SL & we go only for few pips. One loss can wipe out many wins.....

Have you tested live this system? What are your results?

Thanks!
Smilee, maybe you missed my previous post........ could you please answer to my questions?

Thanks!
  • #46
  • Dec 15, 2011 12:35am Dec 15, 2011 12:35am
Quoting AmareX
The trade in post#36 is valid then?
Yes.
  • #47
  • Dec 15, 2011 12:38am Dec 15, 2011 12:38am
Quoting AmareX
Smilee89,
Did you tried or considered using BE + trailing stop with this system?
This is the next step to be coded.
After ~+15 pips, move SL to Breakeven (BE).
Then trail SL.
It can be every 10-15 pips.
  • #48
  • Dec 15, 2011 12:40am Dec 15, 2011 12:40am
Quoting Aztrader2
Smilee, maybe you missed my previous post........ could you please answer to my questions?

Thanks!
See my answer in previous post regarding moving to BE at ~+15 pips.
If price move in our favor without retracement it can be much more profitable.
I use it for a couple of weeks on Demo so far.
  • #49
  • Dec 15, 2011 12:42am Dec 15, 2011 12:42am
Smilee, Thanks for answering man.
Do you think the ea is following the basic rule perfectly at this moment?
" The fool who never traded Demo "
  • #50
  • Dec 15, 2011 12:52am Dec 15, 2011 12:52am
Hello to all. Wish you all many pips with the approach that Smilee is sharing. joancb/smilee I would like to help out with the EA. Now according to the rules that smilee posted on the first page there was no mention of paying attention to the "ask" price when determining that price broke out by 0.1 pip the previous candle. In addition there is no mention of how 4 digit brokers are to be handled. There prices do not go down to pippettes (eg 2.1 pips). So, long story short, based on the 1st post I think this is what is needed for the EA.

- To generate trades prices need to be dealt with with only "bid" levels.
- For 4 digit brokers (non ECN usually) we need to look for the break of 1 complete pip of last candle.

Jacob if you want to, send me an email [email protected] and I can send you the code with the changes plus I will add the ECN selection (user can tell EA if broker is ECN or not) so that pending order can be added properly.

Hope to be of help...
Jess
Our AWESOME IMAGINATION is the true holy grail!
  • #51
  • Dec 15, 2011 1:04am Dec 15, 2011 1:04am
Quoting xmess7
Hello to all. Wish you all many pips with the approach that Smilee is sharing. joancb/smilee I would like to help out with the EA. Now according to the rules that smilee posted on the first page there was no mention of paying attention to the "ask" price when determining that price broke out by 0.1 pip the previous candle. In addition there is no mention of how 4 digit brokers are to be handled. There prices do not go down to pippettes (eg 2.1 pips). So, long story short, based on the 1st post I think this is what is needed for the EA....
Jess,
the updated code is working correctly regarding the spread and decimal pips.
You can help with future changes that may be needed.
As for 4 digits broker, I did not check this system with this issue.
  • #52
  • Dec 15, 2011 1:05am Dec 15, 2011 1:05am
Quoting AmareX
Smilee, Thanks for answering man.
Do you think the ea is following the basic rule perfectly at this moment?
Yes.
  • #53
  • Dec 15, 2011 1:24am Dec 15, 2011 1:24am
xmess7 (Jess) or Joan,
you can add the BE rule to the code:
At + N pips (parameter), move SL to entry price + X pips (parameter, can be negative value too).
Then trail T pips (parameter) from current price.
  • #54
  • Dec 15, 2011 1:27am Dec 15, 2011 1:27am
Kewl, you guys fixed it. I must have an older version of the EA. AS you know 5 digit brokers allow you to go down to the 0.1 pip level where as on the 4 digit brokers that does not happen. But now that I think about it should be ok. As long as price breaks the 0.1 pip level above the high or low the 4 digit broker will also detect it properly.. After all 1 pip is greater than 0.1 pip .

And for in case ... on ECN brokers you first place the trade and then you place the Stop loss and take profit separately. Where as on non-ECN broker you can do all of that with one command. So for the ECN case the EA would need to detect when a stop has been triggered with an order and then it would proceed to place the stoploss and takeprofit.

Kewl carry on.. Peace and many pips to all.
Jess




Quoting smilee89
Jess,
the updated code is working correctly regarding the spread and decimal pips.
You can help with future changes that may be needed.
As for 4 digits broker, I did not check this system with this issue.
Our AWESOME IMAGINATION is the true holy grail!
  • #55
  • Dec 15, 2011 1:35am Dec 15, 2011 1:35am
Quoting joancb
What do you think? does it follow the rules?
Please guys,

when you update the EA in this post, it could be useful write the Timestamp (date, hour) and write something about the update...
So people can see if that is up to date version and which features has the EA.

A suggestion: it should be useful add a Money Management setting (i.e. lotsize = % of account)

Thanks!
  • #56
  • Dec 15, 2011 1:35am Dec 15, 2011 1:35am
Quoting xmess7
Kewl, you guys fixed it. I must have an older version of the EA. AS you know 5 digit brokers allow you to go down to the 0.1 pip level where as on the 4 digit brokers that does not happen. But now that I think about it should be ok. As long as price breaks the 0.1 pip level above the high or low the 4 digit broker will also detect it properly.. After all 1 pip is greater than 0.1 pip .

And for in case ... on ECN brokers you first place the trade and then you place the Stop loss and take profit separately. Where as on non-ECN broker you...
It will be great if you add your own code for ECN broker so it first places the trade and then modifies the Stop loss and take profit separately.
Also add the BE new rules.
  • #57
  • Dec 15, 2011 1:37am Dec 15, 2011 1:37am
Quoting Aztrader2
Please guys,

when you update the EA in this post, it could be useful write the Timestamp (date, hour) and write something about the update...
So people can see if that is up to date version and which features has the EA.

A suggestion: it should be useful add a Money Management setting (i.e. lotsize = % of account)

Thanks!
I agree, adding MM is very useful.
I will add to post #1 the last updated version.
  • #58
  • Dec 15, 2011 1:41am Dec 15, 2011 1:41am
Quoting smilee89
I agree, adding MM is very useful.
I will add to post #1 the last updated version.

Thanks for the answer!

Actually, the parameters of the EA (as downloaded from post #9 )are SL 10 pips, TP 150...!?!?

Is it right?
  • #59
  • Dec 15, 2011 1:56am Dec 15, 2011 1:56am
Quoting Aztrader2
Thanks for the answer!

Actually, the parameters of the EA (as downloaded from post #9 )are SL 10 pips, TP 150...!?!?

Is it right?
No.
Parameters are different.
It depends which pair and what the TF is.

Mostly, SL will be greater than TP, but you'll have much more winners than losers.
  • #60
  • Dec 15, 2011 1:58am Dec 15, 2011 1:58am
Quoting smilee89
No.
Parameters are different.
It depends which pair and what TF is.

Mostly, SL will be greater than TP, but you'll have much more winners than losers.

Please, could you state the actual parameters ? The EA sets atomatically those parameters when opens a trade?

Tks!
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