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A 5minute Inside Bar System

  • #21
  • May 22, 2012 12:23am May 22, 2012 12:23am
Quoting tradestar1
MMMMMM..... Can anyone say CRASH & BURN...............
why did you say that?

was it because the scalping and R/R ratio?
if it is the case, I agree with TC that is is a personal choice and should be dealt with each trader discretion, but I personally know someone who could make consistent profit with scalping even with an R/R of 1:12 (unfortunately his system is too complicated for me to understand )

or was it because your personal experience trading inside bar? if it were so, I'd love to learn more from your experience
  • #22
  • May 22, 2012 1:16am May 22, 2012 1:16am
hai TC, back again
I attach my current trade results, it already hit TP, but I need your comments if I got it right or not

I use an inside bar indicator from DIBS thread to help me quickly recognize if there is an inside bar, but the indicator doesnt recognize that candle highlighted (the red candle after the long blue one) as an inside bar, so maybe I was mistaken?

thank you
Attached Image (click to enlarge)
Click to Enlarge Name: eu m5 inside 220512.gif Size: 15 KB
  • #23
  • May 22, 2012 1:41am May 22, 2012 1:41am
hi bedul, if the high of the red bearish candle is higher than the high of the previous candle, then it is not an inside bar!

I'm identifying inside bars as being at least .1pip inside the previous bar. I'm using two different brokers and both show that red bar as an inside bar.

So far today I'm seeing a loss, then a win, then a no trade, then a win
  • #24
  • May 22, 2012 2:44am May 22, 2012 2:44am
anyone tried using Ananthhh's EA? is it opening trades according to the rules?
  • #25
  • May 22, 2012 3:13am May 22, 2012 3:13am
Quoting Trumpcard
hi Ananthhh, I've loaded the EA but it didn't recognise the last 2 inside bars that formed over the past 11 bars.
Check whether the min and max time you set are right.
If you have to trade between 6 to 10 of your server time, then set the min time to 6 and max time to 10.
Note the word server time. It will be in the market watch window of the MT4 terminal.
EA will take trades only within this time(This is one of the rule you mentioned).
Regarding money management, if you put mm --> false, then it won't calculate lots automatically, it will take lots set as user input.
If mm --> true, then lot size is calculate based on account free margin, stoploss and risk(user input).

Please update if there are any strange behaviours in the EA. I will update it tonight( in my local time ).

Cheers
Ananth
  • #26
  • May 22, 2012 3:15am May 22, 2012 3:15am
Quoting Trumpcard
anyone tried using Ananthhh's EA? is it opening trades according to the rules?
Is it opening trades now ?
  • #27
  • May 22, 2012 3:17am May 22, 2012 3:17am
Quoting ananthhh
Is it opening trades now ?
Yes, BUY

  • #28
  • May 22, 2012 4:14am May 22, 2012 4:14am
loaded the EA again. waiting to see if it will work for me
  • #29
  • May 22, 2012 4:18am May 22, 2012 4:18am
Quoting ananthhh
Is it opening trades now ?
Hello ananthhh;

Pending orders are not canceled

Thanks
  • #30
  • May 22, 2012 4:22am May 22, 2012 4:22am
not sure why but my EA isnt placing the trades. an IB to go long just formed but no pending order was placed. not sure what I'm doing wrong
Attached Image
  • #31
  • May 22, 2012 4:24am May 22, 2012 4:24am
Quoting Trumpcard
not sure why but my EA isnt placing the trades. an IB to go long just formed but no pending order was placed. not sure what I'm doing wrong
yup, same here, so I took it manually
  • #32
  • May 22, 2012 4:30am May 22, 2012 4:30am
For me I´ts OK.
Attached Image (click to enlarge)
Click to Enlarge Name: 2120453 Go Trader MT4 - Cuenta de demostración - [EURUSD,M5]_2012-05-22_11-25-16.png Size: 76 KB
  • #33
  • May 22, 2012 4:41am May 22, 2012 4:41am
did you guys catch that last sell IB two candles back?
I think I'm gonna hold on to this sell position once it goes risk free
since I think that the EU will continue its rally down

I am currently experimenting on not to have a set fix TP for each trade, but rather analyze case per case, who knows maybe the odds will be better

what do you guys think?
  • #34
  • May 22, 2012 4:43am May 22, 2012 4:43am
Quoting chaveznqoos
Hello ananthhh;

Pending orders are not canceled

Thanks
I know that this bug will be reported.
Problem is we cannot give expiration time less than an hour to the pending order.
So i have to write code to implement it.
I will do it and will update the post.
Please be patient.
Thanks.
  • #35
  • May 22, 2012 4:46am May 22, 2012 4:46am
Quoting chaveznqoos
For me I´ts OK.
which prest do you use?
  • #36
  • May 22, 2012 4:50am May 22, 2012 4:50am
Quoting Trumpcard
not sure why but my EA isnt placing the trades. an IB to go long just formed but no pending order was placed. not sure what I'm doing wrong
I am at work, so i cannot open MT4 terminal.
I will put more information in the screen in the next update.
So that its easy to find whats the problem.
I got lot of to-do list for the next update.
You can expect the update soon.

Thanks for all who are testing this EA.

Cheers
Ananth
  • #37
  • May 22, 2012 5:40am May 22, 2012 5:40am
Quoting bedul
did you guys catch that last sell IB two candles back?
I think I'm gonna hold on to this sell position once it goes risk free
since I think that the EU will continue its rally down

I am currently experimenting on not to have a set fix TP for each trade, but rather analyze case per case, who knows maybe the odds will be better

what do you guys think?
it went all the way to 22 pips, I close it manually at +19 (R/R 1:2.7) because a new buy IB has formed, now riding the buy trade, let see how it goes

btw, since this is only experiment, I dont care about the trend, I'll go with every signal, my orientation is to try to ride the trend by using the IB signal.
  • #38
  • May 22, 2012 6:06am May 22, 2012 6:06am
a big thanks to all those testing the EA and the system Remember this is a work in progress and as Ananthhh has pointed out, it's early days yet for the EA so please only use it on a demo account.

I don't mind experimenting with take profit levels, I'll be sticking with the original rules so as not to confuse things. My ideal target is a net of 5 wins per day or 5% net gain. So far on my Go Markets account, there's been 5 wins and 2 losses today. On my FXDD demo, there would have been 6 wins.
  • #39
  • May 22, 2012 6:15am May 22, 2012 6:15am
Sounds like a good scalping strategy.
Just wondering since the sl is generally larger than the tp, what is your net gain so far today?


Quoting Trumpcard
a big thanks to all those testing the EA and the system Remember this is a work in progress and as Ananthhh has pointed out, it's early days yet for the EA so please only use it on a demo account.

I don't mind experimenting with take profit levels, I'll be sticking with the original rules so as not to confuse things. My ideal target is a net of 5 wins per day or 5% net gain. So far on my Go Markets account, there's been 5 wins and 2 losses today. On my FXDD demo, there would have been 6 wins.
  • #40
  • Edited 7:31am May 22, 2012 6:21am | Edited 7:31am
Quoting Trumpcard
a big thanks to all those testing the EA and the system Remember this is a work in progress and as Ananthhh has pointed out, it's early days yet for the EA so please only use it on a demo account.

I don't mind experimenting with take profit levels, I'll be sticking with the original rules so as not to confuse things. My ideal target is a net of 5 wins per day or 5% net gain. So far on my Go Markets account, there's been 5 wins and 2 losses today. On my FXDD demo, there would have been 6 wins.
my current position (since 2 hours before LO) is now 6 win and 1 loss. I am using instaforex.

my current experiment is that I prepare to lose every trade (worst case scenario) and set a somewhat trailing SL and TP manually once the R/R has become 1:1

will keep demo this system atleast for 3 months ahead, thx TC
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