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Fish Net Trading System

  • #21
  • Sep 12, 2012 4:20am Sep 12, 2012 4:20am
Trading forex is like watching a school of fish move. One minute is total harmony, the next, complete chaos. As the observer of this school of fish, do you believe you can accurately predict the direction the school of fish will move each time? Would you bet on it?
  • #22
  • Sep 12, 2012 12:38pm Sep 12, 2012 12:38pm
Hello Xin,

Nothing to report today. I was just getting ready to send you an email to ask you why I did not get any pending orders. Then, at 3PM, my MT4 generated several pending orders. It seems the clock on my VPS was inverted, AM for PM. It has been corrected. I will report tomorrow.

William
may you find what you seek and trade what you find
  • #23
  • Sep 12, 2012 2:13pm Sep 12, 2012 2:13pm
Quoting faxxion
Hello Xin,

Nothing to report today. I was just getting ready to send you an email to ask you why I did not get any pending orders. Then, at 3PM, my MT4 generated several pending orders. It seems the clock on my VPS was inverted, AM for PM. It has been corrected. I will report tomorrow.

William
You did not miss a bit. Today is calm before the storm.
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  • #24
  • Sep 12, 2012 6:17pm Sep 12, 2012 6:17pm
Get your Fish Net ready for tomorrow explosive move. Up or down we should catch a lot.
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  • #25
  • Sep 12, 2012 6:31pm Sep 12, 2012 6:31pm
Quoting xlitang
Get your Fish Net ready for tomorrow explosive move. Up or down we should catch a lot.
Xin,

I hope you are right. Just for the fun of it I set up 28 pairs.

William
may you find what you seek and trade what you find
  • #26
  • Sep 12, 2012 6:57pm Sep 12, 2012 6:57pm
BTW, in the EA setting TradeCashProfit is irrelevant. Use DailyProfitTarget as your whole basket of pairs Profit target.
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  • #27
  • Sep 12, 2012 7:09pm Sep 12, 2012 7:09pm
Quoting xlitang
BTW, in the EA setting TradeCashProfit is irrelevant. Use DailyProfitTarget as your whole basket of pairs Profit target.
Hello Xin,

I set it to 1,000. I want to close manually.

William
may you find what you seek and trade what you find
  • #28
  • Sep 12, 2012 7:15pm Sep 12, 2012 7:15pm
Hi Xlitang,

i have loaded our EA in MT4, but it does not shows the blue and yellow collour, it is in grey colour, can you please help me?
  • #29
  • Sep 12, 2012 7:17pm Sep 12, 2012 7:17pm
Quoting faxxion
Hello Xin,

I set it to 1,000. I want to close manually.

William
For 28 pairs of 0.1 lot, about $30 profit per pair is a good target.

Another thing bothers me is that when news is released and slippage or spread is too high we might not fill any pending orders. Let's see how thing shakes out tomorrow.
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  • #30
  • Sep 13, 2012 1:40pm Sep 13, 2012 1:40pm
Quoting Caillou
Hi Xlitang,

Thanks for sharing. Looks really interesting. Any grid system without a SL on a single currency will always fail in the long run in my opinion but here we are trading a basket and closing positions after NY.
Look at "High Water Mark" and "Low Water Mark" in the chart attached: since yesterday afternoon, max DD -185.31.-€ and max profit +626.29.-€.......really interesting (basket untouched just for testing).

Will test these days and report results.

Thanks again....
hi, could you give me the indicator that makes those calcs?
looks very interesting
  • #31
  • Sep 13, 2012 2:00pm Sep 13, 2012 2:00pm
Quoting dnabrasil
hi, could you give me the indicator that makes those calcs?
looks very interesting
Get it from here iExposure, Ticket
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  • #32
  • Sep 13, 2012 2:45pm Sep 13, 2012 2:45pm
Quoting xlitang
For 28 pairs of 0.1 lot, about $30 profit per pair is a good target.

Another thing bothers me is that when news is released and slippage or spread is too high we might not fill any pending orders. Let's see how thing shakes out tomorrow.
Hello Xin,

Today I had a setting wrong on my end, so no trades to report.

However, I appreciate the input expectation of $30 per pair.

Converesely, on days that it does not work out, what is your average DD per pair?

Thanks,

William
may you find what you seek and trade what you find
  • #33
  • Sep 13, 2012 5:23pm Sep 13, 2012 5:23pm
Quoting faxxion
Hello Xin,

Today I had a setting wrong on my end, so no trades to report.

However, I appreciate the input expectation of $30 per pair.

Converesely, on days that it does not work out, what is your average DD per pair?

Thanks,

William
You can set MaxDrawDown to your comfort level. I would set per pairs $30.
Try to trade those pairs that tend to have large day range.

We have learned something (not new) that news just came out, volatility was high that triggered sell and buy orders for same pairs. Next time we should place pending orders 5 minutes after News released.
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  • #34
  • Sep 14, 2012 1:52am Sep 14, 2012 1:52am
Quoting xlitang
Get it from here iExposure, Ticket
Done.

Thank you
  • #35
  • Sep 14, 2012 5:53am Sep 14, 2012 5:53am
Hi
How about this?
Set pending buy/sell stop order above market price. Lets say 30pips per gap. DO this on EURUSD since we have liquidity on this pair. Set all TP for all orders 120pip or above . For fear of longer term account depletion set SL towards 200pips minimum accounting for double the average daily range for EURUSD so you should not get stopped easily especially in a ranging market.
In ranging markets we could still make money since the TP is getting hit frequently enough..when the equity is increasing close all trades whether in profits or losing. Simply reload the trades which is close in case the market returns to the original price.
In the other hand in a trending market we would have a field day as the profits are in much more quickly even if the stop is very wide. I got a feeling that strategies like this is applied for traders for big banks across the world, but what do i know.
The stop loss is a double edged sword which can cut you in a chaotic market..but im not very sure if we can trade this longer term without the stops to protect the capital. But anyway im sure someone can ride this without SL successfully.
Market ranges..we eat a little, market trends we will feast like lions..?
Just my theory though...
  • #36
  • Sep 14, 2012 7:07am Sep 14, 2012 7:07am
Quoting superbandam3
Hi
How about this?
Set pending buy/sell stop order above market price. Lets say 30pips per gap. DO this on EURUSD since we have liquidity on this pair. Set all TP for all orders 120pip or above . For fear of longer term account depletion set SL towards 200pips minimum accounting for double the average daily range for EURUSD so you should not get stopped easily especially in a ranging market.
In ranging markets we could still make money since the TP is getting hit frequently enough..when the equity is increasing close all trades whether in...
Very good idea. Could you demo it and post your result? We do not need SL since we have buy and sell orders in place and they will hedge each other in the worst case such as market triggered a buy order and then triggered a sell order in such cycle fashion.
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  • #37
  • Sep 14, 2012 8:47am Sep 14, 2012 8:47am
Hi ,
ran this on demo today with default settings. It Took profit 3 times resetting each time for a total of £420. It was a perfect day for this strategy of course.

Yesterday it did not handle the news as you know.

Very interesting concept.

Thanks,
  • #38
  • Sep 14, 2012 9:01am Sep 14, 2012 9:01am
Quoting Grumbo
Hi ,
ran this on demo today with default settings. It Took profit 3 times resetting each time for a total of £420. It was a perfect day for this strategy of course.

Yesterday it did not handle the news as you know.

Very interesting concept.

Thanks,
Your DailyProfitTarget too small.
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  • #39
  • Sep 14, 2012 10:08am Sep 14, 2012 10:08am
Hello Xin,

As you know, I set up an experiment with all 28 pairs. I set the daily profit at $1,000 because I wanted to close the trades manually.

By the time I woke up, I was too late. A profit had been taken of $1,061 and the program was already into a second round of trades that were up $248.

Is the system supposed to re-enter another round of trades after the basket takes a profit? What setting would I change so it only cycled once?

Also, is there a way we could use the force sale as an immediate setting if we wanted to close all open and pending orders?

One last question: If all of the pairs you want to trade are listed in the settings, do we need the ea running on just one chart or running individually on on each pair/chart we wish to trade?

Thanks,

William
may you find what you seek and trade what you find
  • #40
  • Sep 14, 2012 10:44am Sep 14, 2012 10:44am
Quoting faxxion
Hello Xin,

As you know, I set up an experiment with all 28 pairs. I set the daily profit at $1,000 because I wanted to close the trades manually.

By the time I woke up, I was too late. A profit had been taken of $1,061 and the program was already into a second round of trades that were up $248.

Is the system supposed to re-enter another round of trades after the basket takes a profit? What setting would I change so it only cycled once?

Also, is there a way we could use the force sale as an immediate setting if we wanted to close...
The EA is designed to continue to trade. If you want to close manually then set a high DailyProfitTarget. You can set ForceCloseAll to true to close all trades. EA only needs to run on one chart.
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