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Three Pairs Hedging

  • #601
  • Mar 20, 2013 4:20pm Mar 20, 2013 4:20pm
Question for Chuck. Will the EA continue to manage trades when we come back from the weekend and the market's been closed for a couple of days?
Or will we have to close them manually? How is the smart entry Ea coming along. Thanks, Paris
  • #602
  • Mar 20, 2013 4:26pm Mar 20, 2013 4:26pm
Quoting ChuckNZ
Ok, Ill now concede that the EA needs a SL. I just manually shut down a set in each account that had a DD of $400 (for the set of three positions). I didn't like the look of it, so just pulled the plug on that set. Still up over $4,000 per account since Monday, so adding a SL doesn't concern me.

I envisage a simple SL of so many dollars (per full lot) for each set. I'm thinking $200. Of course, it will be a parameter. But any thoughts on where to set it initially?

The losing set had JPY in it. Pairs with JPY in them are not included...

Sorry i didn't notice you made a post about the smart entry. Still even a $400 drawdown isno t that bad considering you've made $4000 on each account. Paris
  • #603
  • Mar 20, 2013 7:47pm Mar 20, 2013 7:47pm
Hi Chuck, nice to meet you. Thanks for all the work you have done on this system and building an EA and all. I have a couple questions about execution.
I started this EA on 3 MT4 platforms. All non-US. On 1 (smarttradefx), it opened all 7 trade sets right away. on another (fxvv), it opened 1 trade set and on the third (FXDD) it didn't open any. Everything is setup as it should be so i am wondering have you seen this on different brokers? Or is there something I am missing? BTW, they were all set-up and turned on within minutes of each other.
Cheers,
Len
Think Outside the Box.....
  • #604
  • Mar 20, 2013 7:55pm Mar 20, 2013 7:55pm
So, does the EA just open trades w/out regard to current direction? Does it take into consideration current direction? If so, how does it determine that direction? Does it do any correlation?
  • #605
  • Mar 20, 2013 8:00pm Mar 20, 2013 8:00pm
Quoting e-trader
Hi Chuck, nice to meet you. Thanks for all the work you have done on this system and building an EA and all. I have a couple questions about execution.
[size=3]I started this EA on 3 MT4 platforms. All non-US. On 1 (smarttradefx), it opened all 7 trade sets right away. on another (fxvv), it opened 1 trade set and on the third (FXDD) it didn't open any. Everything is setup as it should be so i am wondering have you seen this on different brokers? Or is there something I am missing? BTW, they were all set-up and turned on within minutes...
Hi Len and thanks for signing your post.

I'm fairly certain that you will find the spreads to be the cause of no (or few) trades on some accounts. It's a bit of a dilemma. If you widen the spreads so that the EA will trade for other brokers, you are less likely to see those trades go into profit. The value of the three-trade open position doesn't vary that much. I think we are lucky to get a 10-pip profit ($100 per full lot) out of these trades when we have a 2-pip or less spread on each pair. If the spread goes out by two more pips, your chances of seeing a profit diminish.

There are others here with more experience trading three pairs. But, IMO, it's important to grab your profit and run before a trend (probably against you) can develop.

I have manually closed a few sets (four) where I didn't think they would reach the 10-pip profit. This makes me think that we should lower the TP after so many hours. I'll add that to my TO DO list, as an option of course.
  • #606
  • Mar 20, 2013 8:30pm Mar 20, 2013 8:30pm
Hi Chuck and thanks for the prompt reply. Yes, spread could be the issue. I left it at default and will continue to do so as the account it did open all sets was my main account. So it's all good. I have disabled all yen cross sets now as well as I saw from you, Yen may be an issue. Indeed, Yen crosses do not act like other pairs.
Thanks again,
Len
Think Outside the Box.....
  • #607
  • Mar 20, 2013 8:55pm Mar 20, 2013 8:55pm
Quoting Paris Hilton
Question for Chuck. Will the EA continue to manage trades when we come back from the weekend and the market's been closed for a couple of days?
Or will we have to close them manually? How is the smart entry Ea coming along. Thanks, Paris
Yes, Paris, the EA will keep track of things over the weekend. If you should stop it, or your PC crashes, whatever, it will take over management again whenever you start it (like any good EA).

I will also add a feature that I have in most of my other EA's. Late on Thursday or early Friday, I like to set a switch (a global variable) that will tell my EA's to stop taking new trades. They will continue to monitor and close trades, but no new trades are taken.

I will be adding this functionality before Monday, maybe by tomorrow morning (USA) time. It's pretty easy.
  • #608
  • Mar 20, 2013 9:05pm Mar 20, 2013 9:05pm
Quoting nondisclosure00
So, does the EA just open trades w/out regard to current direction? Does it take into consideration current direction? If so, how does it determine that direction? Does it do any correlation?
How can the EA consider "current direction"? Current direction of what? Each set has three pairs. We are either buying, buying, selling or selling, selling, buying. If you can pick the direction of three pairs, you'll make a fortune.

No, the EA doesn't do any correlation. Basically, it opens three trades per set. End of story. The pairs, of course, are selected such that you are "almost" hedged. Choose the pairs wrong or have the BBS/SSB wrong way around and you can lose money quickly. I already found that out before I got my head around pair selection.
  • #609
  • Mar 20, 2013 9:18pm Mar 20, 2013 9:18pm
Quoting ChuckNZ

I will also add a feature that I have in most of my other EA's. Late on Thursday or early Friday, I like to set a switch (a global variable) that will tell my EA's to stop taking new trades. They will continue to monitor and close trades, but no new trades are taken.

I will be adding this functionality before Monday, maybe by tomorrow morning (USA) time. It's pretty easy.
Just a thought Chuck. I have seen other EA's that have the option to do an emergency "Close All Trades" Is this an option to consider?
Cheers,
Len
Think Outside the Box.....
  • #610
  • Mar 20, 2013 9:30pm Mar 20, 2013 9:30pm
Quoting e-trader
Just a thought Chuck. I have seen other EA's that have the option to do an emergency "Close All Trades" Is this an option to consider?
Cheers,
Len
Hi Len,

While most of us have EA's or scripts that perform that function (close all trades), I'm quite happy to add that functionality to this EA.

I'm trying to track a cosmetic bug that is driving me nuts.... time for another cup of coffee.
  • #611
  • Mar 20, 2013 9:55pm Mar 20, 2013 9:55pm
Quoting ChuckNZ
Hi Len,

While most of us have EA's or scripts that perform that function (close all trades), I'm quite happy to add that functionality to this EA.

I'm trying to track a cosmetic bug that is driving me nuts.... time for another cup of coffee.
LOL, coffee, beer or a Ceaser will fix any bug. Another thought to that close all trades option maybe is, disable EA when close all trades is activated. That will keep the EA from opening new trades right away.

Good luck with the bug.....
Think Outside the Box.....
  • #612
  • Mar 20, 2013 11:28pm Mar 20, 2013 11:28pm
The coffee worked!! Here is the latest version for you... complete with "SmartEntry". I've gone over the logic carefully and it seems sound to me.

The changes include:

1. You can trade up to ten sets (previously eight).

2. You can limit the number of active sets using MaxSets.

3. I run with all ten sets enabled, but MaxSets set at seven (7).

4. I don't have time to explain SmartEntry right now, so try it on demo accounts first.

5. I managed to make a simple change so that SmartEntry even works on JPY pairs.

6. It will send you an email every hour with lots of information, unless you set SendSummaryEmails to false.

EX4 only at this point.

You can turn off SmartEntry, if you prefer not to use it.

With SmartEntry turned on, it could take 30 minutes to initiate any trades, even longer when there isn't much action.

Have fun!
Attached File(s)
File Type: ex4 TriangularHedge_015.ex4   63 KB | 914 downloads
  • #613
  • Mar 20, 2013 11:56pm Mar 20, 2013 11:56pm
Awesome, thanks Chuck. so are you using this with default settings?
Think Outside the Box.....
  • #614
  • Mar 21, 2013 12:05am Mar 21, 2013 12:05am
Quoting e-trader
Awesome, thanks Chuck. so are you using this with default settings?
I always set default lot size to 0.01 lots in all of my EA's.... as I wouldn't want a user of one of my EA's getting a SHOCK. But, I'm running with 1.0 lots in my live accounts.

I'm also running with MaxSets = 7.

Otherwise, I run with the defaults that I put into the EA.
  • #615
  • Edited 12:36am Mar 21, 2013 12:11am | Edited 12:36am
OK, thank you
Think Outside the Box.....
  • #616
  • Mar 21, 2013 12:51am Mar 21, 2013 12:51am
Sorry Chuck, one more question.....until there's another....
When i unload a previous version and load up the new one, does it take over where the old one left off? or do i need to close all trades and let the new one start over?
Thanks,
Len
Think Outside the Box.....
  • #617
  • Mar 21, 2013 1:56am Mar 21, 2013 1:56am
Quoting e-trader
Sorry Chuck, one more question.....until there's another....
When i unload a previous version and load up the new one, does it take over where the old one left off? or do i need to close all trades and let the new one start over?
Thanks,
Len
All of my EA's (including this one) should automatically upgrade with no problems. This particular upgrade, however, could be a problem if you changed any of the symbols. I changed the names of the symbols from "SymbolA" to "Symbol011", for instance. Otherwise, you should be good to go..

Let me know how you get on.
  • #618
  • Mar 21, 2013 2:22am Mar 21, 2013 2:22am
hello chuck~
I have question.
I wonder why it doesn't open seperately?
While EG, GU,EU are being opened,
On next set(GU,UJ,GJ), only UJ, GJ are being opened.
Is it normal??
and one more question is how to set the max spread??
sorry my english is very bad.
  • #619
  • Mar 21, 2013 2:44am Mar 21, 2013 2:44am
Quoting kimlie0401
hello chuck~
I have question.
I wonder why it doesn't open seperately?
While EG, GU,EU are being opened,
On next set(GU,UJ,GJ), only UJ, GJ are being opened.
Is it normal??
and one more question is how to set the max spread??
sorry my english is very bad.
No problem with the English.

1. I don't know why GU didn't open. Are there any error messages in the expert journal to tell us about it?

2. Only you will know how to set MaxSpread for your broker. The display on the chart will give you some assistance on setting MaxSpread. The problem is that the spread changes during the day. I try to keep MaxSpread just below the typical spread at the time. I hope that helps?
  • #620
  • Mar 21, 2013 2:53am Mar 21, 2013 2:53am
Thank you for replying.
I am using the MT4
on the Jounal, it say that "GBPUSDpro opening at 0.00000 sl: 0.00000 tp: 0.00000 failed [Hedge is prohibited]"
and EURGBP has same problem.
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