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Attachments: TCO Trader EA
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TCO Trader EA

Sep 19, 2014
Last Sync: Sep 19, 2014
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  • Post #301
  • Quote
  • Edited Jun 15, 2013 7:36pm Jun 14, 2013 9:50pm | Edited Jun 15, 2013 7:36pm
DEMO ACCOUNT REPORT

$100,000 Account opened June 5, 2013 - first traded same day, so 8 days results

All statistics available in Trade Explorer, click on Trade Report and see much of what is here & more

Summary: Profit +$20,000 - Open trades +$8,500

Closed trades 157

Win Ratio 73% - using break even +10 pips so not sure if this is skewing the win ratio, any Quants reading?

Take Profit / Stop Loss is 1 ADR or ATR of Daily price data : RISK is 1% and Max of 2 trades per pair

My logic behind this is that the W%R catches retracement entries perfectly on the 1 hour chart, trend resumes, take the money & run

Example shown below was the largest winning trade so far, by dollar value, not pips, due to the Dynamic Lot Size option

And there is current open trade on that chart, you can see the entry, break even +10 and take profit line

Also show, the ADR projected High & Low from current Low & High, I will attach the Indicator for you

But with great power comes great responsibility - use it wisely

This is a pair that the Third Screen Strategy does not recommend; I take a portfolio view

Bit like the shotgun view, got to hit something, if your trading is better, not need to be reading here

If not, something to consider using, I may try to tweak say Take Profit at 1.1 of ADR and Stop Loss to 0.9 of ADR

Have a great week end everybody, all the best for next week folks,

E.
Attached Image(s) (click to enlarge)
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Attached File(s)
File Type: ex4 !SM_ADR Marker.ex4   12 KB | 266 downloads
Maximize wins, minimize loss, stay in the game as long as you can
Counter-Trend Entry Return This Week: 0.2%
Hi All
A quick question on the TCO EA, it may have been answered already - don't think so though.
If I am using the 4 hour as my anchor chart - trend, and 60 minute to take trades off using the TCO EA. I am wanting to use the Ichimoku as my trend indicator, does the EA know to use the 4hour Ichimoku as the trend or does it use the 60 min to determine the trend and trade.

Thanks
Quoting TallCoolOne
Hi Guys/Gals, I have decided to start my own thread for my EA, I simplified the EA name - TCO Trader It is based on a couple of 100PipsADay strategies and one of my own. Basically it determines the daily trend using 3 different methods (select 1) and then uses the Williams% to enter trades on the lower TF. 2 of the Trend Method by 100PipsADay - He and others are doing very well with it on FF. 100PipsADay 20/50 EMA Method - http://www.forexfactory.com/showthread.php?t=425041 100PipsADay Third Screen MACD Method - http://www.forexfactory.com/showthread.php?t=382032...
TCO,
Thank you very much for your contribution to the Third Screen strategy. I wish you great success in your trading. I actually found this thread through Erebus and I thank Erebus for pointing in the right direction.

One question I have within your EA is that when we set WPR confirmation to false, does that mean position will be opened as soon as WPR levels have hit even if the current bar is not yet closed and WPR may in fact retrace back from OB/OS levels? Or does the bar on the hourly first must close and WPR closes inside OB/OS levels. Hope I make sense.

Also I would like to make a request on your next upgrade to the EA, if you could kindly add stochastics as an alternative choice to WPR. It is recommended by Dr Elder that stochastics can be used as a screen in replacement of WPR for conservative traders. I've been using stochastics instead of WPR with much success in my trading of Dr. Elder's system. IMO, it provided a better representation of PA movement then WPR, as you know WPR tends to stretch quite a bit and often times touches WPR levels and retract before the candle close triggering a trade, only to continue further on the next candle thus placing that opened position straight away into DD. I hope I make sense. I've been using stoch settings 14,3,3.

Thank you once again.
Quoting moneyrunner
Hi All A quick question on the TCO EA, it may have been answered already - don't think so though. If I am using the 4 hour as my anchor chart - trend, and 60 minute to take trades off using the TCO EA. I am wanting to use the Ichimoku as my trend indicator, does the EA know to use the 4hour Ichimoku as the trend or does it use the 60 min to determine the trend and trade. Thanks
I think it may be safe to assume you didn't take the time to open and read the instructions that accompanied the EA on the first post. I'll answer it for you since I actually took the time this morning to read through the thread and the instructions on the EA.

You need to set the trend TF to 240 and 60 for the lower TF. Set Ichimoku to true for trend and turn MACD and EMA trends to false.
Quoting MKFXTrader
{quote} I think it may be safe to assume you didn't take the time to open and read the instructions that accompanied the EA on the first post. I'll answer it for you since I actually took the time this morning to read through the thread and the instructions on the EA. You need to set the trend TF to 240 and 60 for the lower TF. Set Ichimoku to true for trend and turn MACD and EMA trends to false.

Thanks MXFXTrader for handling the questions. I know it is confusing. In the update that I'm working on ..I'm trying to make the trend method selection easier, we will see.

I also want to make the screen display better and improve the instructions doc also. Just takes time. Thanks!
Quoting MKFXTrader
{quote} TCO, Thank you very much for your contribution to the Third Screen strategy. I wish you great success in your trading. I actually found this thread through Erebus and I thank Erebus for pointing in the right direction. One question I have within your EA is that when we set WPR confirmation to false, does that mean position will be opened as soon as WPR levels have hit even if the current bar is not yet closed and WPR may in fact retrace back from OB/OS levels? Or does the bar on the hourly first must close and WPR closes inside OB/OS levels....
HI MKFX,

Close Bar Mode - Looks for trade opportunities when the Lower TF bar has just closed (Less resource intensive when you have many charts or mt4 apps open)

if you set CheckOncePerBar = true & WPR_Confirmation = false, the trade will be taken when bar closes and the WPR is below the OS or above the OB.
if you set CheckOncePerBar = true & WPR_Confirmation = true, the trade will be taken when previous to last bar closed while the WPR is below the OS or above the OB and the current bar closes and the WPR is above the OS or below the OB.

Tick Mode - Looks for trades opportunities on every tick (More resource intensive, performs all calculations on every price change)

if you set CheckOncePerBar = false & WPR_Confirmation = false, will take the trade as soon as WPR dips above the OB or below the OS.
if you set CheckOncePerBar = false & WPR_Confirmation = true, will wait for the dip to come back before taking trade.

I hope this makes sense. Kind of hard to explain. But there is it is.

As far as stochastics, it wouldn't be hard to add the code, just adds more complexity, more confusion with external parms. When Erebus listed all the external parms in an earlier post. I was thinking.....this looks complicated. Would I even want to trade this EA and have to make all these decisions. That is why I''m trying to make the parameters easier and cleaner.....and why I need to make the instructions better. I will think about the addition. It wouldn't be hard to mock up a quick and dirty to use stoch instead of WPR and see if there is much difference in backtesting results

Thanks for the suggestions. We will add it to the list of possible added complexities.
Quoting Erebus
DEMO ACCOUNT REPORT $100,000 Account opened June 5, 2013 - first traded same day, so 8 days results All statistics available in Trade Explorer, click on Trade Report and see much of what is here & more Summary: Profit +$20,000 - Open trades +$8,500 Closed trades 157 Win Ratio 73% - using break even +10 pips so not sure if this is skewing the win ratio, any Quants reading? Take Profit / Stop Loss is 1 ADR or ATR of Daily price data : RISK is 1% and Max of 2 trades per pair My logic behind this is that the W%R catches retracement entries perfectly...

Hi Erebus, it looks like you are on top of your game with what you want to do as far as making these strats work for you. Very impressive. I'm sure we all appreciate and look forward to more of your guidance. Thanks!
Hi TCO
Do u mind looking at my post 296 please
Thank you
Quoting pret
Hi TCO Can u please check for me why all my trades closed Ihave set my TP at 280 and SL at 160 . All trades closed at the same time Set file attached Thank you {file} {image}

Hi Pret, very sorry, I was not ignoring you. Ah..this is a weird one. Not sure what happened here. You don't happen to be using Steve Hopwoods MPTM EA or have another EA on the same account? Would you please post your settings file and I will run it in back testing and see if I can find the issue. Thanks!
Quoting pret
Hi TCO Can u please check for me why all my trades closed Ihave set my TP at 280 and SL at 160 . All trades closed at the same time Set file attached Thank you {file} {image}

It must be the Basket option, it closes the trades once profit reaches a certain percentage. I changed mine to 10% ,default was 3%
Attached Image
Question on Dynamic Lot Size.

If it is set to 1% of equity then the EA has to base the lot size on the SL that is specified. Correct?

If the SL is 500 pips and the equity is $1,000 then no trade would be opened. The minimum lot size is .01 lot. That would be a risk of $50 which exceeds 1% of $1,000. Am I on the right track?
Quoting TallCoolOne
{quote} HI MKFX, Close Bar Mode - Looks for trade opportunities when the Lower TF bar has just closed (Less resource intensive when you have many charts or mt4 apps open) if you set CheckOncePerBar = true & WPR_Confirmation = false, the trade will be taken when bar closes and the WPR is below the OS or above the OB. if you set CheckOncePerBar = true & WPR_Confirmation = true, the trade will be taken when previous to last bar closed while the WPR is below the OS or above the OB and the current bar closes and the WPR is above the OS or below the OB....
Thanks TCO for the reply.

Just want to confirm that for close bar mode(cpu friendly) - Set "check once per bar" = True. When it is set to false then it becomes Tick mode(heavy cpu uasge)? I was just wondering because I didn't see the option for "close bar mode" you described in the first sentence.

Thank you for considering the addition of stochastics. Like I've mentioned, I've been trading the system with the use of stochs and I find it much smoother then WPR, as it actually gives better representation of when PA is OB/OS. The setting I use is 14,3,3. Thanks for considering it.

Also, any way you can add an Arrow to the top right of the EA that shows the direction of the daily trend, similar to what khaled did on his EA? I know his EA is in ex4 format so I have no idea what code is used for that to take place. Maybe we can send him a pm and ask. You may already indeed have something in the works that is similar.

Anyways, Thanks you once again for your contribution to the Third Screen Strategy and the FX community. I'd give you a vouch but I'm not authorized to do so yet, being new to FF.

Cheers
Hi TCO
Thanks for the reply .No Other EA on that account set file attached to post 296
Thank you
GP
MKFX and TCO

Thanks for your reply,

Another question I have to you and others, who may know the answer, if using the 20/50 ema as the trend indicator does the EA wait for the cross of these 2 ema's to determine long or short? or like the manual method that 100pipsaday uses, one waits for price to be above/below these ema's to go short/long immaterial of ema cross??

Thanks
Quoting moneyrunner
MKFX and TCO Thanks for your reply, Another question I have to you and others, who may know the answer, if using the 20/50 ema as the trend indicator does the EA wait for the cross of these 2 ema's to determine long or short? or like the manual method that 100pipsaday uses, one waits for price to be above/below these ema's to go short/long immaterial of ema cross?? Thanks

Above or below.
Quoting moneyrunner
MKFX and TCO Thanks for your reply, Another question I have to you and others, who may know the answer, if using the 20/50 ema as the trend indicator does the EA wait for the cross of these 2 ema's to determine long or short? or like the manual method that 100pipsaday uses, one waits for price to be above/below these ema's to go short/long immaterial of ema cross?? Thanks
I told myself to stop posting on this forum but I will answer you. WORK IT OUT YOURSELF.
Quoting Erebus
DEMO ACCOUNT REPORT $100,000 Account opened June 5, 2013 - first traded same day, so 8 days results All statistics available in Trade Explorer, click on Trade Report and see much of what is here & more Summary: Profit +$20,000 - Open trades +$8,500 Closed trades 157 Win Ratio 73% - using break even +10 pips so not sure if this is skewing the win ratio, any Quants reading? Take Profit / Stop Loss is 1 ADR or ATR of Daily price data ...
Dear Erebus and all people here (starting from TCO, very nice EA, indeed! Clear coding, easy to trace...),

congratulations for your results, and best wishes that this will go on.

Being used to verify and self-test things, I have a question open. Looking in your trades in Trade Explorer I find something that I cannot easily reconcile with your "break even + pips" statement above, at least without further explanation. My interpretation, so far, is that you change the stop loss to breakeven (=entry price) as soon as trade reaches +10 pips of profit (correct me if I am wrong).
If therefore this is true, looking at many of your Trade Explorer past trades (and I did it because your results were much better than my backtests) looks quite strange. I just paste one here:

Attached Image (click to enlarge)
Click to Enlarge Name: Question.jpg Size: 57 KB


So: if math is no opinion, this trade for instance had to be closed at breakeven much earlier than when it was closed (for a good profit). How/why?
Please understand this applies to a lot of your recorded trades, this one is just one example. Can you please explain which are your precise settings about this issue, or where I am misunderstanding? Eventually: would it be possible for you to post the complete .set file so we have a common starting point for backtesting and optimization?

Win ratio of course is very high if you include all the BE trades, of course this reflects to a R/R lower than 1:1, if your SL = TP at +/- 1 x daily ATR.

From the few, very initial, to be much further verified first backtests on my side, anyway, the system "as is" would show a PF of 1.2-1.5. Not bad at all for being the initial testing round w/o further optimization.

Best regards

BL
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Quoting betterlife
{quote} Dear Erebus and all people here (starting from TCO, very nice EA, indeed! Clear coding, easy to trace...), congratulations for your results, and best wishes that this will go on. Being used to verify and self-test things, I have a question open. Looking in your trades in Trade Explorer I find something that I cannot easily reconcile with your "break even + pips" statement above, at least without further explanation. My interpretation, so far, is that you change the stop loss to breakeven (=entry price) as soon as trade reaches +10 pips...
Erebus setup is on post #226. It should answer your question.
Thanks,

sorry for asking.
Jumping here and there between three threads is not always easy. Sorry and good luck to all!

Bye

BL

EDIT: now the question concerning the win rate is still more open.
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It would be good to put an option to take trades based on profit distance in pips and not in Time delays. it doesn't really make sense adding 5 or 7 positions 10 pips apart and this is because it won't matter how you set the "Order Delay" setting. The break out can happens now, 6 hours, or 2 days apart. I think a 50 pips distance condition should be ok before looking again at the Overbought oversold condition.
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