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Straddle trading EA

  • #661
  • Jul 8, 2013 11:08pm Jul 8, 2013 11:08pm
Quoting susantasaren
{quote} Go through this Trigger Sheet. This might help to set proper TP. {image}
Susan

My most embarassing trade ever was a week when I decided to try to use TPs and I set 50 pips on that gigantic UK Prelim GDP trade in April - plus my broker slipped me 40 pips so I made a stupendous 10 pips, and the trade was well over 100 pips. After that I vowed I will never use TP on any form of spike trade. On other trades, it's a great idea !

Alan
  • #662
  • Jul 9, 2013 1:34am Jul 9, 2013 1:34am
Quoting susantasaren
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.
Susan

One of the reasons I go on about using the Spread & Sessions is that you can run it on a live account at news times ***without even trading *** and find out whether that broker freezes and if that broker 'gaps' prices and what the spreads can get upto. If you trade you can compare the price you get with any price gaps so you can find out whether the broker gapped or added slippage.

I have found that ECN accounts are more likely to gap i.e. prices suddenly jump 20-40 pips. The temptation is to use smaller Pointsaway values to try and get in before the gap, however, I think that sometimes causes more pain than it resolves.

On NFP, I used 2 ECN style brokers. One never lets the spread go above 6 pips but I set my Pointsaway to 150, so ask was about 100.25 and although I wanted to buy at 100.4, my order was filled around 100.6 because the price gapped from 100.269 to 100.579. On my other good broker, the spread hit 28.5 because they did their favourite trick of spiking the spread 15 pips downwards but the net result was I got in 10 pips earlier.

So I suppose what I am trying to convey is that spreads, price gaps etc. in 2-3 months of measuring, are common everywhere (on MT4). Although you can't avoid those issues, you can find brokers that have good execution and if you cherry pick the news events and set your settings a little conservatively and give your trades a bit of room to prevent early stop outs, it is possible to consistently make money.

I have tried using cAlgo on a Demo account to straddle using cTrader but I found that my orders weren't always executed. Have you experienced that problem?
  • #663
  • Jul 9, 2013 2:27am Jul 9, 2013 2:27am
Quoting Alan111S
{quote} Susan One of the reasons I go on about using the Spread & Sessions is that you can run it on a live account at news times ***without even trading *** and find out whether that broker freezes and if that broker 'gaps' prices and what the spreads can get upto. If you trade you can compare the price you get with any price gaps so you can find out whether the broker gapped or added slippage. I have found that ECN accounts are more likely to gap i.e. prices suddenly jump 20-40 pips. The temptation is to use smaller Pointsaway values to try and...
Which broker's CAlgo did you use? For me Execution is right away. Wait I will try to record tomorrow's AU Employment change Trading. Lets see.
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  • #664
  • Jul 9, 2013 3:13am Jul 9, 2013 3:13am
i faced strange problem...

seems my broker dont allow me to trade in micro lots, so when even i use MM option it will caluclate lot sizes with 2 decimals on the left of the period for example: 2.35... that means i have 5 micro lots on my trade which preventing my trade to go live...

is there any walkaround to let my MM pass the calculated lot sizes only on mini lots n higher?!
  • #665
  • Jul 9, 2013 3:40am Jul 9, 2013 3:40am
not bad at all first trial on live account gbp industrial production:

11:22:27 AmazingEA GBPUSDfo,M1 inputs: PointsAway=80; TP=0; SL=100; NYear=2013; NMonth=7; NDay=9; NHour=8; NMin=30; NSec=0; CTCBN=0; SecBPO=20; SecBMO=0; SecBAO=2; STWAN=15; OCO=true; BEPoints=50; BEOffset=9; TrailPoints=50; TrailOffset=0; TrailImmediate=false; MM=false; RiskPercent=1; Lots=0.3; MaxSpread=100; AddSpreadToSL=true; AllowBuys=true; AllowSells=true; TradeLog="AmazingEA";

around 25 pips...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdfom1.png Size: 41 KB
  • #666
  • Jul 9, 2013 3:48pm Jul 9, 2013 3:48pm
Hello Guys.

I'm not having problems with the broker I am working because my account is ECN STP. I also believe that Alan is better than MT5 MT4, MT5 as the most advanced and is also more practical for programming.

If it were possible to build this EA for MT5, I believe it would also a good utility.
Invest in creating their EAs, because one day you need one!
  • #667
  • Jul 9, 2013 4:43pm Jul 9, 2013 4:43pm
what was ur max lot size u used with that broker?! n was it during news events?
  • #668
  • Jul 9, 2013 9:42pm Jul 9, 2013 9:42pm
Quoting susantasaren
{quote} Which broker's CAlgo did you use? For me Execution is right away. Wait I will try to record tomorrow's AU Employment change Trading. Lets see.
It was FxPro using the script TradingNewsRobot.cs

I think I got it to execute once. Maybe I didn't give it enough "Seconds Before"......

Alan
  • #669
  • Jul 9, 2013 11:36pm Jul 9, 2013 11:36pm
Quoting Alan111S
{quote} It was FxPro using the script TradingNewsRobot.cs I think I got it to execute once. Maybe I didn't give it enough "Seconds Before"...... Alan
People have complained about FxPro many time about freezing. Try out with other brokers.
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  • #670
  • Jul 10, 2013 3:23am Jul 10, 2013 3:23am
hello Alan,

here is the indicator from my previous picture...
Attached File(s)
File Type: ex4 Signal Bars (AAD Mods).ex4   50 KB | 369 downloads
  • #671
  • Jul 16, 2013 5:15am Jul 16, 2013 5:15am
Hi Alan,
I'm using some straddle EAs for couple a months and I know that this is not easy way of trading. "Rewards" but also the "punishments" can be huge
I made some modifications to latest version of your EA, just regarding the Magic, and made it as external so I can follow trading results in MyFxBook easier.
Great thing is that you use Pair and Magic when manipulating orders so I could do this and still trade different pairs in the same time. But, that is how far my knowledge of MQL4 goes :/

Since I was so many times faced with Whipsaws I have an idea which you maybe could integrate into next version of this EA. Maybe it's a bad one, but I will let you decide about that. I was thinking about lowering loses when the whipsaw happens by moving the order that was not initially opened to a point where a SL for the opened trade is set (Or some number of pips which could be set).

The idea come to me from the fact that sometime I got, for example, BUY STOP hit and the price goes down, then I hit SL point and then after 10 pips my SELL STOP is hit and made some profit. This is if I had for example PointsAway = 10 pips and SL = 10 pips. So I have missed 10 pips (+/- the spread) of profit on my SELL order which could cover some losses if nothing else.

In my opinion this is worth of programming and testing, and there should be an option to turn OFF or ON and to set number of pips to move the pending order.

What do you think about this?

Have a nice day!
  • #672
  • Jul 16, 2013 9:27pm Jul 16, 2013 9:27pm
Hi rimpampa

Regarding Magic, I have a new version to release and funnily enough I changed the Magic algorithm. It's now

Magic=(NHour*10000)+(NMin*100)+NSec;

Which means an 8:30 release would look like this 830000. In MyFxBook, this would be mean you could view all 0830 releases together which might be useful.

It also means you can setup multiple trades on the same pair as long as they have different news times and they won't interfere with each other.

Your idea isn't bad. I have used this in many situations when a reversal has happened. In fact, I made another change in the next version where if you have OCO=false, the opposite order won't be deleted when STWAN has passed. The idea is that you have a hedge and you can delete manually if you like.

However, price sometimes comes back to pre-release levels and reverses again to go in the original direction. After experimenting with changing stops etc. I found that moving SLs is not a good idea, even if they are far away. Now, I tend to put my SLs further and intervene manually if I want. I'm reluctant to make that kind of change as I think it might confuse.

I'm going to release my new version in a few days. So if you feel strongly, get some more 'votes' for it and I might change my mind !

Alan
  • #673
  • Jul 17, 2013 4:20am Jul 17, 2013 4:20am
Hi again
I think my settings are better now but today for example the GBP trade didn't open. I think it was because of maxspread = 50, probably too low. I'll have to see when I get back home.
My question: what happens if pending orders are there, and suddenly the expert is disabled because spread > maxspread? Are the pending orders cancelled? Or they are kept with no change?
Thanks
nuno
  • #674
  • Jul 17, 2013 4:34am Jul 17, 2013 4:34am
Hi there, if anyone can help me, also with charge pm me.

I have problem with my script. I would like to disable one of the functions.
During trading, it will place buystop and sellstop and if one of them trigger, the other will be deleted immediately.
I want to disable this function. Let it remain there.

Thanks.
  • #675
  • Jul 17, 2013 4:41am Jul 17, 2013 4:41am
hello!

I have a problem. I used amazing ea version 3.0.0 in a time and it was ok. But, recently, it don't open any pending order. I can't understand why. Help me!
This is picture:
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.jpg Size: 109 KB
  • #676
  • Jul 17, 2013 5:52am Jul 17, 2013 5:52am
Quoting Alan111S
Hi rimpampa Regarding Magic, I have a new version to release and funnily enough I changed the Magic algorithm. It's now Magic=(NHour*10000)+(NMin*100)+NSec; Which means an 8:30 release would look like this 830000. In MyFxBook, this would be mean you could view all 0830 releases together which might be useful. It also means you can setup multiple trades on the same pair as long as they have different news times and they won't interfere with each other. Your idea isn't bad. I have used this in many situations when a reversal has happened. In fact,...
i think his suggestion could be easily handled if u allow again negative bmo as it was before, am not sure if it still working with negative value or not...

for me i dont like the idea if reopen orders, or keep orders running after certain value (CTWAN for example) coz i tried to trade some news with this EA while am not watching... the result was good... so i like to still have the ability to trade with ea while not being there...
  • #677
  • Jul 17, 2013 6:27am Jul 17, 2013 6:27am
Quoting 350z 8877
Hi there, if anyone can help me, also with charge pm me. I have problem with my script. I would like to disable one of the functions. During trading, it will place buystop and sellstop and if one of them trigger, the other will be deleted immediately. I want to disable this function. Let it remain there. Thanks.
Set OCO to false. Then your orders will not get deleted until STWAN.
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  • #678
  • Jul 17, 2013 6:29am Jul 17, 2013 6:29am
Quoting Thinh
hello! I have a problem. I used amazing ea version 3.0.0 in a time and it was ok. But, recently, it don't open any pending order. I can't understand why. Help me! This is picture: {image}
Your points away = 10150 . That's why your order didn't execute.
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  • #679
  • Jul 17, 2013 7:06am Jul 17, 2013 7:06am
Quoting susantasaren
{quote} Your points away = 10150 . That's why your order didn't execute.
Yes, I set points away=150, but when time is less than 20 sec, points away = 10150. I can't understand
  • #680
  • Jul 17, 2013 7:53am Jul 17, 2013 7:53am
Quoting Thinh
{quote} Yes, I set points away=150, but when time is less than 20 sec, points away = 10150. I can't understand
Maybe you had the same problem I had. Perhaps the far away pending orders were opened correctly but then cancelled as the spread was higher than the max. spread, thus disabling the EA.
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