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Straddle trading EA

  • #641
  • Jun 30, 2013 10:59pm Jun 30, 2013 10:59pm
Quoting nquental
{quote} Thanks again Alan. Here's the log of another trade. I'm using a vps and I couldn't find the actual log file of the EA.In this case, the news was at 1:50 local time. I'm on a non dealing desk account. 2013.06.27 01:51:03 AmazingEA USDJPY,M30: delete #3835569 buy stop 0.53 USDJPY at 107.796 sl: 107.740 tp: 117.796 ok 2013.06.27 01:51:03 AmazingEA USDJPY,M30: delete #3835570 sell stop 0.53 USDJPY at 87.730 sl: 87.786 tp: 77.730 ok 2013.06.27 01:50:13 AmazingEA USDJPY,M30: modify #3835569 buy stop 0.53 USDJPY at 107.796 sl: 107.740 tp: 117.796...
Hi Nuno

I can see that it is definitely a time sync issue. So, the trades are taking place at the right time but are being reported in the VPS log with the wrong time because your VPS is out of sync time-wise. I would run the tool I mentioned in the previous reply.

To help you find your logs, excerpt from the "AmazingEA TroubleShooter.txt" file:-
If you can't find the logfiles and you installed MT4 in 'Program Files' or 'ProgramFiles (x86)' then it is because Windows 7 or 8 prevents Applications from writing logfiles in the Program Files area. So then MT4 is probably writing the logs in the ProgramData directory, which is a 'hidden' directory structure. The easiest way to access that area is to open a 'Run' command and type %AppData% and press enter. You will then see a list of subdirectories. Pick the one that corresponds with the Brokers name and then look in that directory for 'experts' or 'logs'. The best thing in future is to install all MT4s in a MT4 subdirectory, so you don't experience this issue.

Regards your settings, the trades should be opened 20 seconds before news and deleted 10 seconds after which means they are alive for 30 seconds altogether. On your system they have ended up alive for 50 seconds which means FXCM's server is running very slow

The fact that the trades only get modified once means that there are very few price ticks coming through and the setting of SecBAO=10 and SecBMO=5 only gives a 5 second window to modify both trades to bring the orders close. If I were you I would open some practise trades on your live account with large Pointsaway values say 200 (20 pips) so you can see the orders opened modified and deleted. Monitor the broker clock on Market Watch window while it is doing this.

Really you need a broker/VPS combination that allows at least 1 trade modifications per pair per 5 seconds. If you are using FXCM they are based in NY. I would recommend BeeksVPS in NY. I used FXCM NDD with them and this is my log. See how I got 2 modifications at 1:44:59 seconds. That is due to more price ticks


2013.04.23 01:44:41 Opening BuyStop @ 1.02601 & SellStop @ 1.02436, OrdersCondition=0
2013.04.23 01:44:41 OpenBuyStop, OrderSend Executed, ticket=1225459
2013.04.23 01:44:43 OpenSellStop, OrderSend Executed, ticket=1225460
2013.04.23 01:44:43 Modifying Orders, OrdersCondition=0
2013.04.23 01:44:43 Buy Stop was @ 1.02601, changed to 1.02601
2013.04.23 01:44:43 Sell Stop was @ 1.02436, changed to 1.02436
2013.04.23 01:44:46 Modifying Orders, OrdersCondition=11
2013.04.23 01:44:46 Buy Stop was @ 1.02601, changed to 1.02601
2013.04.23 01:44:46 Sell Stop was @ 1.02436, changed to 1.02436
2013.04.23 01:44:47 Modifying Orders, OrdersCondition=11
2013.04.23 01:44:47 Buy Stop was @ 1.02601, changed to 1.02602
2013.04.23 01:44:47 Sell Stop was @ 1.02436, changed to 1.02436
2013.04.23 01:44:54 Modifying Orders, OrdersCondition=11
2013.04.23 01:44:54 Buy Stop was @ 1.02602, changed to 1.02605
2013.04.23 01:44:54 Sell Stop was @ 1.02436, changed to 1.02436
2013.04.23 01:44:57 Modifying Orders, OrdersCondition=11
2013.04.23 01:44:57 Buy Stop was @ 1.02605, changed to 1.02612
2013.04.23 01:44:57 Sell Stop was @ 1.02436, changed to 1.02436
2013.04.23 01:44:59 Modifying Orders, OrdersCondition=11
2013.04.23 01:44:59 Buy Stop was @ 1.02612, changed to 1.02612
2013.04.23 01:44:59 Sell Stop was @ 1.02436, changed to 1.02436
2013.04.23 01:44:59 Modifying Orders, OrdersCondition=11
2013.04.23 01:44:59 Buy Stop was @ 1.02612, changed to 1.02619
2013.04.23 01:44:59 Sell Stop was @ 1.02436, changed to 1.02436
2013.04.23 01:45:00 MaxSpread Exceeded, MaxSpread: 100 Spread : 165
2013.04.23 01:45:01 DeleteBuyStop, OrderDelete Executed
2013.04.23 01:45:02 DeleteSellStop, OrderDelete Executed
2013.04.23 01:45:02 MaxSpread Exceeded, MaxSpread: 100 Spread : 113
2013.04.23 01:45:03 MaxSpread Exceeded, MaxSpread: 100 Spread : 112
  • #642
  • Jul 1, 2013 12:24am Jul 1, 2013 12:24am
Quoting Alan111S
{quote} Hi there. Have you actually traded with the EA? I ask because this isn't the normal type of EA that trades automatically. In fact, one should use it as an automated way to get into manual trades. I certainly wouldn't want to setup 30 news events and just let it rip. For example, I often switch off buy or sell or adjust my lot size based upon current market conditions and according to the probability of the trade working out. If you really, really wanted to setup multiple trades, just open a separate chart for each event and load it on the...
Tq for reply.

Yes i do use this EA for trading.
I am actually very selective on which major news to trade, and now i use over 5 different settings for this EA...

Anyway if any programmer see this and willing to help, pls give me a PM.

*I'm willing to pay for this project. Thanks.
  • #643
  • Jul 2, 2013 9:35am Jul 2, 2013 9:35am
i got a nice script to straddle the news...

2 pending orders at the same time....

but i need to add the trailstop for that code...

please check the script n help...

thanks....
Attached File(s)
File Type: mq4 Set2StopOrders.mq4   4 KB | 390 downloads
  • #644
  • Jul 2, 2013 9:36am Jul 2, 2013 9:36am
Quoting Alan111S
{quote} Hi Nuno I can see that it is definitely a time sync issue. So, the trades are taking place at the right time but are being reported in the VPS log with the wrong time because your VPS is out of sync time-wise. I would run the tool I mentioned in the previous reply. To help you find your logs, excerpt from the "AmazingEA TroubleShooter.txt" file:- If you can't find the logfiles and you installed MT4 in 'Program Files' or 'ProgramFiles (x86)' then it is because Windows 7 or 8 prevents Applications from writing logfiles in the Program Files...
Thank you so much. Today I was able to closely watch a trade an in fact as you said it seems the EA works perfectly and the trades are opened at the right time, but they are registered with the wrong time. I'll use the tool. I'll also check the VPS you told me. Is there any free solution? It seems FXCM charges 30 USD per month...

Cheers,
Nuno
  • #645
  • Jul 2, 2013 9:39am Jul 2, 2013 9:39am
Dear all
What is your experience with good parameters for this EA? I have been trying different combinations, but as it's not really easy to backtest this it's like a time consuming trial and error process. The recommended setting for example suggests a large points away value, but then we would miss most of the price spike, no? Any thoughts on that? My strategy now is to use the break even to capture around 10 pips, and the trailing stop to capture additional pips if lucky enough (but with a tight trailing SL). Not sure if this is good though...
Cheers,
Nuno
  • #646
  • Jul 2, 2013 9:43am Jul 2, 2013 9:43am
Quoting nquental
{quote} Thank you so much. Today I was able to closely watch a trade an in fact as you said it seems the EA works perfectly and the trades are opened at the right time, but they are registered with the wrong time. I'll use the tool. I'll also check the VPS you told me. Is there any free solution? It seems FXCM charges 30 USD per month... Cheers, Nuno
My broker is FXCM UK, do you have any recommended VPS in this case, or would it also be beeksfx?
  • #647
  • Jul 2, 2013 6:41pm Jul 2, 2013 6:41pm
Quoting nquental
I'll also check the VPS you told me. Is there any free solution? It seems FXCM charges 30 USD per month... Cheers, Nuno
Quoting nquental
{quote} My broker is FXCM UK, do you have any recommended VPS in this case, or would it also be beeksfx?
Hi Nuno,

BeeksFX is one of the two VPS options listed on our site. The other one is FXColo. The cost for either service is normally $30 per month, but it's free if your FXCM account has a balance of at least $5000.

Jason
  • #648
  • Jul 2, 2013 11:14pm Jul 2, 2013 11:14pm
Quoting nquental
{quote} My broker is FXCM UK, do you have any recommended VPS in this case, or would it also be beeksfx?
nuno

It's good to have your VPS co-located with your broker. I think FXCM UK server is in NY, so Beeks NY would be good. The specs on the FXCM UK VPS page are fine.

  1. Memory: 1,680 MB
  2. Disk Space: 15 GB
  3. OS: Windows 2008

  • #649
  • Jul 3, 2013 2:31am Jul 3, 2013 2:31am
Quoting nquental
Dear all What is your experience with good parameters for this EA? I have been trying different combinations, but as it's not really easy to backtest this it's like a time consuming trial and error process. The recommended setting for example suggests a large points away value, but then we would miss most of the price spike, no? Any thoughts on that? My strategy now is to use the break even to capture around 10 pips, and the trailing stop to capture additional pips if lucky enough (but with a tight trailing SL). Not sure if this is good though......
nuno

We have a Skype trading room.....I think you might find it useful. Send mosalem2003 a request to join.

Last year, PointsAway 50 to 80 worked fine. Now I'd say 80 is minimum except on the quietest trades, 100 for GBPUSD and 120-150 for NFP and Rate Decisions. You have to weigh up getting in pre-spike versus getting in both ways or the wrong way. For example, AUD rate decision yesterday ranged from 0.9209 Bid to 0.9237 Ask. Large enough to get taken in but not enough to make any money. I saw your trade in Trade Explorer. Either you should have used a larger PointsAway like 150 with CTCBN=0 (my guess is you used 50 or less?) or 120 with CTCBN=1. The other possibility is to have put the chart on 5 minutes and use CTCBN=1 or leave on 1 minute and use CTCBN=5. This would have made starting values of 0.9216 / .9223 before Pointsaway and Spread were added.

Hard Stop Losses should be larger than PointsAway so they are beyond where Price was prior to the News, so the SL for Sell should be a little higher than SL for Buy. If things don't work out, I kill my trades before they hit the stops.

Another strategy that would have worked out would have been to set up a trade for 1 minute past, using CTCBN=1 on a 1 minute chart. After analysing past releases, the RBA statement released at around 30 seconds past news time can sometimes reverse the market.

The reason AUDUSD behaved like it did is that the market knew RBA wasn't going to cut. Relief rally didn't happen much because the RBA statement wasn't that positive. 'AU Dollar still over valued, economy transitioning etc.' Well there was a little relief rally but the market started to sell off after the end of the RBA statement. I sold AUDUSD manually at 0.9190. I decided to wait for it to drop through 0.92 level. There was a lot of congestion around 0.9180 so I closed, but in retrospect I wished I put a stop at 0.9190 (Break Even) and left it.

Your BE and Trailing Stop strategy looks fine - be careful not to go for BE too early as that can sometimes kill an otherwise good trade.
  • #650
  • Jul 3, 2013 2:17pm Jul 3, 2013 2:17pm
Quoting Alan111S
{quote} nuno We have a Skype trading room.....I think you might find it useful. Send mosalem2003 a request to join. Last year, PointsAway 50 to 80 worked fine. Now I'd say 80 is minimum except on the quietest trades, 100 for GBPUSD and 120-150 for NFP and Rate Decisions. You have to weigh up getting in pre-spike versus getting in both ways or the wrong way. For example, AUD rate decision yesterday ranged from 0.9209 Bid to 0.9237 Ask. Large enough to get taken in but not enough to make any money. I saw your trade in Trade Explorer. Either you should...
Thanks again for your excellent response. I'll try a few more times and if unsuccessful I'll forget about trading the news. These things seem simple but they're very far from it. Are there other nice EA like this one that you can recommend?
  • #651
  • Jul 4, 2013 1:58am Jul 4, 2013 1:58am
Quoting nquental
{quote} Thanks again for your excellent response. I'll try a few more times and if unsuccessful I'll forget about trading the news. These things seem simple but they're very far from it. Are there other nice EA like this one that you can recommend?
Hi nuno

Saw your EUR trade on Trade Explorer. How unlucky was that. If your stop had been about 2 pips lower, that would have turned into a winner. I said this in my post yesterday.

"Hard Stop Losses should be larger than PointsAway so they are beyond where Price was prior to the News"

Not sure if that was before your trade or not.....

There are other options for trading news, but most of them are not free. Here is a list. Google for more info.

Straddle:-
Straddle Trader Pro
Currency News Trading by Henry Liu

Spike:-
Secret News Weapon
Forex News Gun
GlennEA
  • #652
  • Jul 4, 2013 11:55am Jul 4, 2013 11:55am
Quoting leor
so why dont use just use a institutional account when you get to the point where you need to trade bigger lots sizes, and i know institutional accounts which ask for min £10,000 or £20,000 so that shouldnt be a problem at all tbh.
this
  • #653
  • Jul 6, 2013 10:48am Jul 6, 2013 10:48am
My POs at FXCM were cancelled by broker as the NFP released at 10.29 broker time(1 minute earlier ,because my NetTime/ timesynctool did'nt work after I used System Restore on my CPU).
At ThinkFx my trades were good yesterday with nice profit (1000 + 991.87 USD) on real account.
Here are the settings;
NFP GU,5-7-2013, 19.30 WIB (15.30 THF),AmazingEA.2-1-0 GBPUSDpro,M1 inputs: PointsAway=80; TP=500; SL=100; NYear=2013; NMonth=7; NDay=5; NHour=15; NMin=30; CTCBN=1; SecBPO=20; SecBMO=0; STWAN=5; OCO=true; BEPoints=50; BEOffset=10; TrailPoints=0; TrailOffset=0; MM=false; RiskPercent=1; Lots=2; CloseTrades=false; MaxSpread=0; AddSpreadToSL=true; MaxSlippage=200; TradeLog="AmazingEA"; P/L = + 1000 USD, Slippage = 0

NFP UJ 5-7-2013; 19.30 WIB (15.30 THF),AmazingEA.2-1-0 USDJPYpro,M1 inputs: PointsAway=80; TP=500; SL=100; NYear=2013; NMonth=7; NDay=5; NHour=15; NMin=30; CTCBN=1; SecBPO=20; SecBMO=0; STWAN=50; OCO=true; BEPoints=50; BEOffset=10; TrailPoints=0; TrailOffset=0; MM=false; RiskPercent=1; Lots=2; CloseTrades=false; MaxSpread=0; AddSpreadToSL=true; MaxSlippage=200; TradeLog="AmazingEA"; P/L =991.87 USD. Slippage = 0
Attached Image(s) (click to enlarge)
Click to Enlarge Name: nfp gu,5-7-2013, 19.30 wib (15.30 thf)gbpusdprom1.png Size: 28 KB
Click to Enlarge Name: nfp uj 5-7-2013; 19.30 wib (15.30 thf)usdjpyprom1.png Size: 27 KB
  • #654
  • Jul 6, 2013 8:24pm Jul 6, 2013 8:24pm
Hello Alan

I do not know what happened, but after I put the Money Management true, he did not open any order. I used 1.0 Percent Risk with SL of 10 pips and with capital of more than 90 usd liquid.

What will happen? Where did I go wrong?

Recalling that the MM - false, it works correctly and I'm even recovered my lost capital net total of other manual operations.

Almost 20% of net income only in this trade from last June 4.

I'm happy. Thanks Alan for the excellent work.
Invest in creating their EAs, because one day you need one!
  • #655
  • Jul 7, 2013 1:50pm Jul 7, 2013 1:50pm
i finished reading all posts, it took me the whole day .... but yes it really worth it...

Alan u r the man...

this is the dream of anybody wanna straddle the news...

i sent u guys PM's to join the skype room...

i will start to test the EA tom in my live account...

many thanks for all of u
  • #656
  • Jul 8, 2013 1:02am Jul 8, 2013 1:02am
Quoting bisho777
i finished reading all posts, it took me the whole day .... but yes it really worth it... Alan u r the man... this is the dream of anybody wanna straddle the news... i sent u guys PM's to join the skype room... i will start to test the EA tom in my live account... many thanks for all of u
Hey bisho777

I can see you are excited about this

Just be aware that you are dependent on having a fair broker which is like 1 in 10 of them. An absolute must is to run the Spread and Sessions Indicator (check the downloads of this thread) which will help you work out whether your broker is OK. Test using really small lot sizes, (0.1 lots). Check for slippage as you increase the lot sizes. Give your trades a bit of room - tight stops will get hit these days.....
  • #657
  • Jul 8, 2013 1:19am Jul 8, 2013 1:19am
actually i have question about spread indicator... i dont think it will collect historical data since no logic on that... so i need to keep it running in order to collect live data... am i right?

dont worry about me.... i got burned many times by brokers so am trying to select new one...

this one am still new with him... the good news he will not let ur order fill if it slipped for certain value... for me i guess this act such a relief, while slippage could be good for me... but i dont want to have slippage since i really got bad experience on that...

but with this broker on last nfp his spread went to around 6-8 pips on all majors. 30 second prior event.. 5 min after that...

do u experienced that too?

for now i wanna test the amazing indicator n get really familiar of that... then after that i think its a must to start big discussion of brokers...

guys let me in ur skype room as soon as possible
  • #658
  • Jul 8, 2013 2:53am Jul 8, 2013 2:53am
This strategy is indeed good. But the fact is most of the brokers don't allow this by price freezing, slippages etc. And hence we suffer loss or we get less profit.
For this strategy to be successful I think ECN accounts are the best. I am trying out the same strategy with CTrader Platform. CTrader platform because it doesn't freeze most of the time and spreads are always low than MT4. Will Show you the results soon.
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  • #659
  • Jul 8, 2013 3:13am Jul 8, 2013 3:13am
this is really huge work...

one small tip... u can optimize ur settings for next event by trail n error same event history... by using strategy tester...

for example if i used below setting for last nfp i could caught around 50 pips in nzd/usd n gbp/usd pairs;

PointsAway=120;
TP=0;
SL=100;
CTCBN=0;
SecBPO=20;
SecBMO=0;
STWAN=30;
OCO=true;
BEPoints=50;
BEOffset=9;
TrailPoints=100;
TrailOffset=0;
MaxSpread=100;

isnt that nice guys?!
  • #660
  • Jul 8, 2013 4:05am Jul 8, 2013 4:05am
Quoting bisho777
this is really huge work... one small tip... u can optimize ur settings for next event by trail n error same event history... by using strategy tester... for example if i used below setting for last nfp i could caught around 50 pips in nzd/usd n gbp/usd pairs; PointsAway=120; TP=0; SL=100; CTCBN=0; SecBPO=20; SecBMO=0; STWAN=30; OCO=true; BEPoints=50; BEOffset=9; TrailPoints=100; TrailOffset=0; MaxSpread=100; isnt that nice guys?!
Go through this Trigger Sheet. This might help to set proper TP.
Attached File(s)
File Type: pdf triggersheet.pdf   199 KB | 823 downloads
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