Contraband

This stategy is based on the strategy posted here.

However, there are some differences. I am not going to try to explain all of them here in the first post just a few that are on my mind.... it is designed to be traded on multiple pairs.

1. It typically should only enter a break away trade only if the price has retraced to the 5SMA price open line first in any given week.

2. The EA supports 20 pairs. If you put the EA on an unsupported pair it will tell you on the chart if it is unsupported.

3. There is a mechanism that looks to close in profit via time and certain thresholds.

4. The stop loss isn't hard coded into your platform terminal (on the order itself). The stop is a Ghost Stop that is visible on the chart and requires internet connection at all times. There are reasons for this that I'm not going to get into here.

5. Time Frame: Currently there is no restriction... you can place EA on any time frame.

6. Money management is turned on... however this will only work with micro lot and nano lot brokers. If you trade with micro lot broker then set AccountIsMicro = 1 in console. If you have IBFX account set IB_Lots = 1.
Only one of these should be 0 the other one should be set to 1 unless you are trading with MM set to 0... per guidelines below.

If your micro lot broker does not describe micro lots being anything other than 0.1 you will not be able to use money management properly. So you will need to shut it off. To do this just select money management in the console and set to 0. Set Lots in the console to what size you wish your lots to be. If you do this set up properly you will get screens similar to that of below that will show the lot size you selected.

Or in the event that you are using money management your lotsize will be determined automatically based upon your account size and some simple math done by the EA.

7. EURUSD must be one of the pairs you select to trade. Minimum you need to trade at least 2 pairs. One of them must be EURUSD to work properly.

8. This EA is capable of setting up to 5 trades per pair at any one time. If you are trading all 20 pairs that is up to 100 possible trades at one time... with that said:

DO NOT TRADE THIS ON LIVE ACCOUNT UNTIL YOU ARE SURE YOU REALIZE WHAT THE EA IS CAPABLE OF DOING.

If you want this work continued with updates:

You can help by posting bugs with screen shots preferably. Be as descriptive as possible. It's not easy writing an EA and it can be even harder finding bugs. Please keep that in mind when you post.

Here's a few descriptions.... via pics

Hey Pipseeker thanks for sharing your Ea i will give it a try on 4 pairs this week and report back

New version posted... this includes a few more tweeks and includes some stuff discussed on the other thread.

Also added Daily Open / Daily Close Previous indicators... if you don't want these you can shut them off via the console.

Also when you fire it up you need to make sure "SymbolCount" on the charts = the number of symbols you have it placed on. If it is not correct just close the terminal after you have all the EA's attached to the chart. When you
re-open the platform it will go thru Initialization process and after that the count should be correct provided you have chosen supported pairs. This problem typically only occurs when you first place the EA's on the charts or if you decide to add another pair to your group of pairs.

If not it will tell you on the chart that is not supported.

Additionally as new revisions come out I have made it brain dead simple to upgrade to the latest version. Simply paste the new one in your expert folder close terminal and restart. You don't have to take old copies off the chart new version will be loaded automatically.

Hi Pips
Which pairs are you running this on mine hasnt took a trade yet?

Well I don't want to come out and say which pairs because I want people to trade it with different pairs than me.

A bulk of tests with the same pairs really won't show much other than discrepancies because of requotes, internet outages and such. I won't tell you which pairs are supported other than EU because I want you to run it, test it... try to break it so to speak.

Also I don't know if / when you upgraded to the latest version... as those changes changed the rules quite a bit on several different aspects.

You have to remember that the original method posted on the other thread is geared more for the break than the retrace back. This is method is geared to trade the retrace back as well as the break.

However, if you miss the start up of the first day of the week you may not get an entry at all. I will tell you that there are several pairs that I have the EA on and there are no trades for that pair(s). [So it is statistically possible if you trade a smaller number of (supported) pairs that you might not get any trades. The EA will not open up a trade just for the sake of openning a position.]

The idea is we or at least I don't know specifically which pairs will break and when... but statistically speaking we have a pretty good idea that a good number of pairs will retrace. So while there are risks trading more pairs there's also strength in numbers so to speak.

Anyway since I made my last post in the other thread the gains have mostly evaporated so there is still work to be done yet as I suggested earlier.

So don't be afraid to open a second, third, fourth demo some where and let the crap fly. There's no rule that you only have to run it on one account. Just pay attention to your computer resource usage so you don't crash and burn.

Once the retrace has already begun don't expect any trades until a break of the high or low indis on the chart.

Broke well over the 1000 pip barrier and currently hovering around the 1500 pip mark... (although the pic doesn't show this.)

So me thinks this is entering the "BLS" realm. (Beginners Luck Syndrome).

I know it won't always be this "easy".

Anyway I've included a pic of recent progress and a pic showing potential upgrades to the EA.

Hi Pips
Still ive had no trades yet are there any indis i need or templates,ill check on it again on friday evening and let you know if ive had any action

Hmm hard to say but almost sounds like some kind of error maybe? Post a screen shot of one of the pairs you're running on and don't forget to scroll the pricing stuff down so I can read the printed info on the chart and also let me know which broker you are using.

Additionally you can select the journal tab and snap a pic of that as well. That should tell the story I think.

Whatever indi's you decide to use is up to you... none are required for EA to operate they are all hard coded in. Also currently there is no period restriction you can run from any (supported) chart.

New version posted in top post.

Several changes:

1. Stop movement: as trade progresses (positively) the stop should move up or down. If stop movement doesn't occur the trade(s) will time out and look for minimal profits or the stop may eventually hit. Stop should only move if the symbol is in profit, overall profitability of the account does not effect individual symbol stop levels.

2. Trades 2-5 on symbols have a little more strict quidelines for entry. Trade 1 is merely "toe" in the water so to speak.

3. Time out cancelation. If the symbol exceeds certain profit requirements the EA enters a "Hold" type mentality and will not close out the symbol based on timed criteria. It will either hit a target level and close OR hit the stop and close OR hit full account closure and close all symbols.

However, the stop is merely a trailing stop by this time and the symbol will close in profit if hit.

Hi Pips
Got version 1 working now currenyly 110 pips in profit.
Never had 100 pips in a day well done.

Hi Pips
My first trade closed out +38 pips Aud/Cad 5 more still running

There's still a few positional problems with the stop setting but as far as I can tell so far that's about it.

Hi Pips
Up around 400 pips at moment not closed out yet but i cant really fault it at the moment,excellent work!!!!!

yeah I know what it's capable of ... but this will come down to pair selection as well some weeks. Glad to hear you got it working.

Which version # are you using?

Hi Pips
The latest version just put it on 14 pairs now bit of a bad day but still up around 100 pips for the week.

ok do a favor for me if you can and note where the stop loss is on a few pairs (if you can take a pic) before friday close and then compare that with where the stop is placed at the beginning of the week.

This is only if the trades stay open over the weekend of course. Because once you close down the platform over the weekend the stops will reset and I want to make sure they setting properly after a terminal restart. (they should, but visual evidence would be better.)

Once I verify that I'll try and fix the few positional problems I've seen so far.

Hi Pips
No trades open now but put 10 more more pairs on now so if any trades open today or tomorrow ill send them via email if thats ok?

yeah that's fine but try to wait until sunday start up to send them and group them so I know they are friday close and Sunday start up. Otherwise it will be harder to decipher them.