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Which Broker for News Straddle trading? 9 replies

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Straddle trading EA

  • #821
  • Sep 7, 2013 2:35am Sep 7, 2013 2:35am
Quoting drBBMM
Hi Alan, I placed 3 orders in the same CPU (i7,Windows 8) on GBPUSD using Amazing EA v3.2.2 (1 lot) ,v 2.2.1(10 lot) and v.2.4.1(1 lot),but v 2.2.1(10 lot) didn't open position. I placed 2 orders in the same CPU on USDJPY using Amazing EA v3.2.2 (1 lot) and v 2.2.1(10 lot), but v. 3.2.2 didn't open position. I didn't know the cause why the EA v 2.2.1 didn't open position on GBPUSD, and v 3.2.2 didn't open position on USDJPY. The Tickdatas were not recorded either. May be too many orders burdened the CPU too much on the same time? On UJ the profit...
Hey doc

You were unbelievably lucky that there was a small spike down at 15:29:53 seconds that activated your Sell. I recorded prices and a few seconds later, you would have been buying....

Pointsaway=30 is a pure gamble on it moving the right way.

I had 2 lots on and I got whacked for $1000 loss. Which I made up for on other pairs.... Never put all your eggs in one basket.

The reason your other orders weren't placed is that if you use the same Account, Pair and Time, you can only have 1 pair of orders for each combination. The UJ that got activated is the 10 lots, on GU the one that got activated was just the 1 lot. The other CPUs would see a pair of orders already opened and not open any more.....

On the newer versions where you have NSec parameter, you can put 1 second after or before to differentiate that system and then you can have another set of orders. I am going to release a new V3 with SlipCheck etc. in it, so you can upgrade without losing anything.

Lucky, Lucky, Lucky !!!!
  • #822
  • Sep 7, 2013 3:46am Sep 7, 2013 3:46am
Hi Alan, and thanks for the PM RisingSun,

I was going to post my mods on the EA but was reluctant as I don't want to be responsible for other traders losses, so use at your own risk. I should stress I am not a programmer!

RisingSun had requested it so here it is, also with the .Set file of my trading parameters.

These are the only lines I think I modified.

Comment(title, timetitle, "High @ ",DoubleToStr(h,Digits)," BuyOrder @ ",DoubleToStr(ho,Digits)," (removed spread, previously h+sp)

h=Ask; (changed Bid to Ask)
l=Bid;

ho=h+(PointsAway*Point); (removed spread, previously h+sp)

Allan - I didn't really understand why you were using Bid+Spread to calculate the High instead of just using the Tick Ask price? So this is basically what I changed.

To summarize my settings, I like to use CTCBN=3 on M5 chart, I find this naturally builds in enough for twitchy movement going into the news release. If the volatility is high then this is typically reflected in the range of 3 candles, low volatility lower range of 3 candles.

5 pips PointsAway, I've gone lower than this but I've been caught with false spikes etc.

OCO - I used to use this, but if a market whipsaws and my first trade then creates a loss, why would I not want to take a trade the other way. I usually leave STWAN=10secs for this.

Add Spread to SL - this I disable, in this current low liquidity the spread can be big. I use Max Spread 20pips due to the liquidity etc, I used to have it to 7-10pips but was missing great trades. Because of this I disable add spread to SL because I don't want 20pips extra loss. The drawback on this is sometimes your SL will land inside the spread and not be invalid, so you run the risk of not having any SL. This happened to me last night on NFP GBPUSD, but my order was cancelled because Max Spread was exceeded. I also counter invalid SL by running a Trade Manager EA to cover all trades which adds a SL if it is missing - search FF for MPTM.

NFP last night I traded AUDUSD (0.5 lot) / GBPUSD (2 lot) / EURUSD (2 lot) - EURUSD closed out at my SL right at the peak before retracing, it was beautiful. GBP clocked out on Max Spread, AUD didn't have much in it so I closed it out.

Finding the right news to trade is the key - the best Straddle trades I've had are those with low volatility going in so your Pending Orders are close, there is a slight spike front running or someone got the news earlier that triggers your position with no slippage, then the rest of the market catches on and it shoots in your favour.

Alan's EA is awesome! I am very appreciative of his time to develop and maintain. But you will always be limited to trading small lots to minimize slippage, so I will share another news trading technique - news auto-clikcers. Using both Straddle and Auto-Click will enhance your ability to customize each trade to suit the conditions.

I have been experimenting with FF Forex News Gun - there are a few auto-click news apps around, mostly paid prescription to cover their news feed costs. But thanks to FF this is free. The best part about an Auto-Click is you can set your tolerances to the individual data that you want to trade, which is great if there is a suite of data prints that potentially will cause whipsaw.

This guy does some cool shoot-outs of news auto-clickers on YouTube
Inserted Video


I've also attached FNG application, and the cool tester application this guy uses which you should use first and get comfortable with what's happening. Please note the latency on FNG - I have 0ms because I use a VPS in a CNS NYC data centre. If you're latency is 100+ then think test it with 0.01 lots because you are getting slow news.

And finally, the best tool you have at your disposal is your brain, so educate it - this is a great article explaining what is actually happening when news is released. There is a lot of other brain fodder here for novice traders: http://wingstarfx.webs.com/aboutthenewslockup.htm while they also have a Auto-Click I didn't like it because it was a Master/Slave signal copier setup which removed the users control over the parameters.

TEST THIS EA FIRST - I TAKE NO RESPONSIBILITY FOR YOUR LOSSES!

Alan - if you could verify I haven't corrupted anything that would be very much appreciated.

Attached File(s)
File Type: zip STRADDLE - EA+SET.zip   7 KB | 1,205 downloads


Attached File(s)
File Type: zip FNG + Click Tester.zip   69 KB | 969 downloads
  • #823
  • Sep 7, 2013 4:12am Sep 7, 2013 4:12am
...there's always something I think of just after I hit post.

I've been thinking about the Max Spread functionality. I think it's good to have but wondering if somehow it can be enhanced so it doesn't completely knock you out of the running and you completely miss the trade.

My understanding of the benefits of Max Spread is so you don't get both sides triggered, or one side gets triggered with SL inside the Spread, or you're trade gets triggered then stopped out instantly.

As the Spread blow-out usually only occurs for a fraction of a second, here's two ideas:

1) Currently I think the Max Spread exceed lock-out is 10secs, if this could be made a user input and in milliseconds. This way the EA will recheck the Max Spread and if within range create the Pending Orders again.

2) Or alternatively the EA just loops checking Max Spread and stops the lock-out if the Spread reduces to allowed range, then the EA creates new Pending Orders based on the current market price for STWAN period.

Either of these options I'm thinking will still put a Pending Order ahead of the Market Price and in theory one side should still get triggered, once the spread is reduced.

Whats your thoughts?



I'm thinking if I could enter something smaller, even in milliseconds, that way if it clocked out on Max Spread
  • #824
  • Sep 7, 2013 5:05am Sep 7, 2013 5:05am
Quoting Jgg
Hi guys. Great thread and thanks for all the useful input. Can anyone help... I have just started live straddle trading events. All my demo account tests perform really well using my own EA. Today I straddled 2 events: GBPUSD Construction PMI @ 0830GMT and EURUSD ISM Manufacturing PMI @ 1400GMT. Stop orders were placed well, but in both cases the price with FXCM jumped by around 150 points between ticks shortly after the events. FXCM filled the stop orders (in one case slightly better than the next tick beyond my stop order) but still way beyond...
Hi Jgg - I don't want to slam on brokers but I will also share my experience with FXCM. When I first started trading I was manually moving Straddle orders down just before a news release but thought there must be a way to automate this. I got someone to write me a script for FXCM's Tradding Station, worked awesome the first time, the next time I used it there was a false spike 2 secs before the news that was exactly enough to trigger both orders then stopped them out. I have never seen that happen before, or after.

What you need to understand is the difference between Market Maker brokers and ECN/STP brokers.

Market Maker brokers create the market prices and basically act as a Prime Broker, they also know your account balance, your levels and your stops, and they are trading against you! So they can feed you whatever prices they want as long as they can defend it as volatility, spread or slippage.

ECN electronic communication network / STP straight through processing - this is meant to be an open market where the Retail Broker (FXCM etc) will pass trades to their Prime Brokers who create the CFD contracts with the Liquidity Providers.

While I've seen FXCM claim to be a true ECN broker I have my doubts. "True ECN/STP" slogans are being used by every retail trader and they are popping up weekly at the moment. The only way to know is trial and error and use your gut instincts. I use IC Markets and what convinced me these guys were legit was the 20min phone call I had before opening an account a number of trades that have come with less than 1pip from my SL and not been stopped out. A MM broker will eat your stops like Pac-Man.

I also used IG Markets and once had a huge swing trade in big profits, I moved up my SL and instantly the price veered for it, I took it off and the price resumed in the other direction.

So research your broker, who are their Prime Brokers, do they aggregate their PB prices, and who are their Liquidity Providers, and are your SL/TP blind to the PB?

You want a Retail Broker that makes its profits off commission, not your losses.
  • #825
  • Sep 8, 2013 3:19am Sep 8, 2013 3:19am
Thanks Coley for your EA and the set files with comments. Will study them in depth but a quick question atm is how to set the "CTCBN=3 on M5 chart". This might have been answered already but do you run the EA on min5 chart to do this? I run it on m1 chart.

Other comments are also very interesting and informative. Thank you. BTW have you ever tested News Auto Trader by newsautotrader.com? It reads news from news sources and trigger trades by deviations preset in the script. In my month's free trial period, I've had very few trades. No trade at NFP this Friday. The trigger concept and engine look interesting but I am not sure I will purchase it yet.

On NFP, wonder if anyone has traded USDCHF. My ibfxau micro account real has captured some 40 pips, which on EURUSD it only did a measly 15 pips. My setting is 5 pips away, TP and SL 100 pips (practically disabled), OCO true (might disable this per your comments). I gave up trading news with this EA on Oanda real, due to the huge spread widening at news.

It's only a month's experience on news trade for me in any serious manner. But I began to like it as you can plan ahead, requires very limited time at screen, and above all limits over trading, which I admit it a primary cause of losing cash.

Akira
Attached Image (click to enlarge)
Click to Enlarge Name: SnapCrab_2013-09-08_16-27-03_No-0000.png Size: 47 KB
  • #826
  • Sep 8, 2013 9:51am Sep 8, 2013 9:51am
Quoting Alan111S
{quote} Hey doc You were unbelievably lucky that there was a small spike down at 15:29:53 seconds that activated your Sell. I recorded prices and a few seconds later, you would have been buying.... Pointsaway=30 is a pure gamble on it moving the right way. I had 2 lots on and I got whacked for $1000 loss. Which I made up for on other pairs.... Never put all your eggs in one basket. The reason your other orders weren't placed is that if you use the same Account, Pair and Time, you can only have 1 pair of orders for each combination. The UJ that got...
Hi Alan.
Thanks alot for your very valuable explanation. I mistyped Pointsaway=80 to 30 (my carelessness for not checking it). Formerly I just wanted to know which EA version got better fill in real account. But the result was I missed the profit of 10 lot in GU. So I better use newer version with NSec, and no need to use some versions on the same account/pair/NewsTime/same CPU.
On FXCM dd account I lost on UJ because the slippage was very big(75 pip) so my TP (600 points) became my SL !!, fortunately I use very small Lot (0.1) and lost - 2.73 USD. If I use TP > 800 point and the SL didn't change may be the outcome would be profit.
  • #827
  • Sep 8, 2013 10:08am Sep 8, 2013 10:08am
Quoting Coley
Using both Straddle and Auto-Click will enhance your ability to customize each trade to suit the conditions. I have been experimenting with FF Forex News Gun - there are a few auto-click news apps around, mostly paid prescription to cover their news feed costs. But thanks to FF this is free. The best part about an Auto-Click is you can set your tolerances to the individual data that you want to trade, which is great if there is a suite of data prints that potentially will cause whipsaw. This guy does some cool shoot-outs of news auto-clickers on...
Hi Coley!
Why do you get 0ms using FNG because you use a VPS in CNS NY? Is the FNG server in CNS?
Does it read free Bloomberg news directly? Where is Bloomberg news feed?
I only know Thompson Reuters news feed is in Savvis NJ2 http://tinyurl.com/oqkzcyj

The fastest news feed I learned is AlphaFlash "not" because they have a POP in NY4 http://www.alphaflash.com/
Latency comparison: AlphaFlash < Thompson Reuters < Bloomberg
  • #828
  • Sep 8, 2013 4:04pm Sep 8, 2013 4:04pm
Quoting Jgg
Thanks Jason and Erebus for your replies. Erebus: I think your image shows the Services PMI event on 4th September which was good for me too. My post was regarding the Construction PMI event on the 3rd which saw the market gap over the majority of the movement. The Manufacturing PMI event on the 2nd also gapped over the majority of movement, but 1 minute early. Did anyone make any pips straddling these 2 events on GBPUSD with AmazingEA on the 2nd and 3rd? My question, which Jason has begun to answer, is "will all brokers exhibit gapping like this,...
Hey Jgg

Sorry I nearly missed your posts because they were buried behind Coley's hijack of the whole thread

Every broker has it's idiosyncracies...As Erebus said I use AxiTrader and I find that they do gap and slip on exit, but spreads are capped and price ticks aren't held back at news times. Generally this means one can use low Pointsaway with them and you won't get taken in on the spread....

There isn't such a thing as a good broker for straddling any more. It's all dependent on luck. Basically if the market gaps, you'll struggle. If you get a sustained move you won't.

Also, some PMIs are released 2 minutes before advertised on the FF calendar. If you subscibe to email alerts from Fast Economic News they will give you the heads up on which ones. GBP Manuf PMI and Services PMI come out at 28 minutes past.

Best of Luck!
  • #829
  • Sep 8, 2013 4:39pm Sep 8, 2013 4:39pm
Quoting Alan111S
... There isn't such a thing as a good broker for straddling any more. It's all dependent on luck. Basically if the market gaps, you'll struggle....
Hi Alan,

What is your general comments on the commission based account vs. non-commission based account in regard to trading news with AmazingEA? For example, I have come to know Excel Markets (a NZ broker) by participating in myFxbook's latest contest, where they have Pro (com based) and Core (non com) accounts one can choose from.

With the commission based account, spread is generally stable imo, or are they the same in effect?

Akira
  • #830
  • Sep 9, 2013 3:59am Sep 9, 2013 3:59am
Ha! Opps, sorry Alan - got bored watching election coverage.

Quoting RisingSun
question atm is how to set the "CTCBN=3 on M5 chart". This might have been answered already but do you run the EA on min5 chart to do this? I run it on m1 chart. Other comments are also very interesting and informative. Thank you. BTW have you ever tested News Auto Trader by newsautotrader.com?

  1. Yes just change the time frame to M5, or whatever time frame you want and it calculates those candles. M5 works best for my CTCBN=3 setup.
  2. I reviewed all those news auto-clickers, I haven't had a great deal of success as the times I've tried the data is within my range so it doesn't fire. But I think they have potential. Check out the YouTube I posted above and follow that guys videos, he does a shoot-out of most of them, FNG was as good as any and it's free.

Quoting Fraois
{quote} Hi Coley! Why do you get 0ms using FNG because you use a VPS in CNS NY? Is the FNG server in CNS? Does it read free Bloomberg news directly? Where is Bloomberg news feed?

  1. The 0ms latency is between my VPS and the FNG server, so I gather we are in the same data centre. Where FNG, or any other auto-clicker get there news is a closely guarded secret, they will never tell you to protect their source. Bloomberg / Reuters are premium, there are some others but if you read the link above on news lock-up, you get the idea that behind every news source is a human punching that data into a computer somewhere, so it's a quick-draw McGraw. One is never always quicker than the other.

OK - enough about news clickers, back to Straddle trading.

I find FX Street calender the best, and it also schedules the early PMI releases Alan has mentioned. It's also great if you need to convert the time frame to match your brokers time when setting Alan's EA.

http://www.fxstreet.com/economic-calendar/

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot_01.jpg Size: 163 KB


Alan - don't know if you've had a chance to read the PM I sent? What's your thought's on front running a Buy/Sell order, then Straddling a SL to stop out the loser, instead of opening a winner? Do you think the MT4 server might play a priority to SL orders over Pending Market Orders?
  • #831
  • Sep 9, 2013 4:08am Sep 9, 2013 4:08am
...P.S - heads up on this tip off for JOLTS jobs data release, it's not on all eco calendars so it could offer a good low volatility / small gap entry straddle opportunity.

Midnight Tuesday Sep-10 Sydney time / 10am US EST.

http://www.forexlive.com/blog/2013/0...ed-on-tuesday/

Good luck!
  • #832
  • Sep 9, 2013 8:04am Sep 9, 2013 8:04am
Coley

I have had a long think about your issue with the High price. The reason it was setup the way it was is so that CTCBN works correctly. In the code below:-


Inserted Code
 
if (CTCBN==0) 
 {
 h=Bid;
 l=Bid;
 }
 else
 {
 h=iHigh(NULL,0,0);
 l=iLow(NULL,0,0);
 for (i=1;i<=CTCBN;i++) if (iHigh(NULL,0,i-1)>h) h=iHigh(NULL,0,i-1);
 for (i=1;i<=CTCBN;i++) if (iLow(NULL,0,i-1)<l) l=iLow(NULL,0,i-1);
 }

this line
Inserted Code
h=iHigh(NULL,0,0);
and this one
Inserted Code
for (i=1;i<=CTCBN;i++) if (iHigh(NULL,0,i-1)>h) h=iHigh(NULL,0,i-1);
work off the Bid prices (because iHigh returns Bid prices) so by changing the h=Ask you are making the EA work one way for CTCBN=0 and another for CTCBN>0.

So the code section above has to contain Bid prices everywhere, that is why the Spread is added back in for the Buy Order.

I think the 'problem' was only that the Head Up Display showed the High as
Inserted Code
High @ ",DoubleToStr(h+sp,Digits)
which is misleading/incorrect, so tomorrow I will be publishing a fixed version with that changed to:-
Inserted Code
High @ ",DoubleToStr(h,Digits)
and reviving the SlipCheck code from Version 2.

I also thought about the MaxSpread lockout period. It is hard coded to 5 seconds. If I make that configurable someone will set it to a useless value. and there is certainly no point in making it milliseconds. There was a time when there was no lockout period and it was useless. It would delete the orders and your option 2 would occur and they'd be back in 2-3 seconds and then the spreads would go up again and the orders would activate with crazy spreads! The idea is you should get used to the kind of spreads your broker can blow out to and set a limit that means 'If my trade goes over this spread, I'd rather not trade'. If you don't want to do that, set it to 0 to disable it.

I noticed on one of your screenshots that you had ModifyGap=100. This is an example of allowing config that can cause issues. Setting it to 100 means don't modify my orders unless price changes by 10 pips !!!!!!!!!! I'm sure you don't want that. I will be changing the code so that you can't set that higher than 20 now.
  • #833
  • Sep 10, 2013 4:59am Sep 10, 2013 4:59am
Hi Alan,

thanks for taking the time to respond. I'm no programmer so I'm probably missing something obvious?

In my mind it seems there are two variables - Bid and Ask price. So it seemed logical to me that the High (h) = Ask and the Low (l) = Bid.

My understanding of your EA is that you set both h and l = Bid, calculate the Spread (Ask-Bid), then add the Spread to the Bid to get the High. ho=Bid+Spread (ho=h+sp). Just thought it was a round about way to get the already available Ask price? Would it not be simpler and more efficient to set h=Ask?

Therefore Buy = Ask+PointsAway / Sell = Bid-PointsAway - ho=h+PointsAway / lo=l-PointsAway

Thanks for pointing out the ModifGap=100 - I usually set to 10 but was experimenting to overcome twitchy spread movement going into the news. I will be using 10 in future.

I look forward to the next version, I think Slip control would be really helpful in this current market.

THANKS AGAIN FOR SHARING THIS WITH US!
  • #834
  • Sep 10, 2013 7:04am Sep 10, 2013 7:04am
Coley

I still don't think you get it......And I'm getting tired of explaining this. But just one more time.

Just like the charts only show Bid Prices, all the CTCBN and High/Low code that I put in my last reply has to work with Bid prices exclusively, because 'iHigh' and 'iLow' only return Bid prices. So all that code needs to work on Bid and exclude the spread, which then gets added back in along with Pointsaway. So I don't know how many ways I can put it - iHigh and Ask are NOT compatible. In your explanation of how you think it works you aren't taking this section of code into account:-

for (i=1;i<=CTCBN;i++) if (iHigh(NULL,0,i-1)>h) h=iHigh(NULL,0,i-1);

Also when you set h=Ask that only executes if CTCBN=0. So if CTCBN isn't 0, your h=Ask doesn't even execute, instead the line above executes which set h=iHigh ....etc. which will be a Bid price. You then need the spread added on top of that for your buy order. Basically, you are mixing up Bid and Ask prices and it will break !!!

The next version doesn't have slip control, as slip control isn't possible with pending orders

Instead it has a feature that sets a very tight stop in case you get slipped over a certain user-defined level. This is code that was released in Version 2 and I removed it because in Version 3 it seemed like overkill and it was going to waste too much time tweaking the trades instead of letting them get on with it, but then quite a few users like it and have stuck with Version 2 because of it. So you can opt to switch it off and it will work without it.

If you want, skype me and we can sort it out without everyone else having to read this stuff....
  • #835
  • Edited 1:53am Sep 12, 2013 1:14am | Edited 1:53am
Hi,
Is anyone using Alpari as a broker with this EA. I am comparing Alpari with IBFX and have found that with Alpari, on EUR/AUD when I set the points away to 50, it reads on the graph info as 100. With NZDJPY, again with the points away set to 50 it reads 70. On the IBFX both are reading correct. Both are live mini accounts both on separate vps,s.

Also, it looks as though the Alpari AUD Employment Change trade with the EUR/AUD failed to set the stop loss or the trailing stop as it stayed open for nearly 2 hours until it reached its take profit which I has set at 1000. If it had gone the other way it would have been not good. I was not around to monitor the trade.



Below are the logs for the EUR/AUD. Time is in AU

11:29:55 AmazingEA EURAUD,H1: open #38415676 buy stop 0.01 EURAUD at 1.44812 sl: 1.44604 tp:

1.45812 ok

11:30:01 AmazingEA EURAUD,H1: modify #38415676 buy stop 0.01 EURAUD at 1.42825 sl: 1.42604 tp: 1.43825 ok

11:31:21 AmazingEA EURAUD,H1: modify #38415676 buy 0.01 EURAUD at 1.43005 sl: 1.43005 tp: 1.43825 ok
  • #836
  • Sep 12, 2013 1:57am Sep 12, 2013 1:57am
Quoting EventHorizon
Hi, Is anyone using Alpari as a broker with this EA. I am comparing Alpari with IBFX and have found that with Alpari, on EUR/AUD when I set the points away to 50, it reads on the graph info as 100. With NZDJPY, again with the points away set to 50 it reads 70. On the IBFX both are reading correct. Both are live mini accounts both on separate vps,s. Also, it looks as though the Alpari AUD Employment Change trade with the EUR/AUD failed to set the stop loss or the trailing stop as it stayed open for nearly 2 hours until it reached its take profit...
There was a bug in version 3.2 where BE code would override the Trailing Code. From your log the BE was set but Trailing didn't work. I am releasing 3.3 tonight and that also has the fix in it.

I don't understand the Pointsaway thing though. Can you post a picture?
  • #837
  • Sep 12, 2013 2:41am Sep 12, 2013 2:41am
Quoting Alan111S
{quote} There was a bug in version 3.2 where BE code would override the Trailing Code. From your log the BE was set but Trailing didn't work. I am releasing 3.3 tonight and that also has the fix in it. I don't understand the Pointsaway thing though. Can you post a picture?


Here is a pic attached. As I say it is fine with IBFX, but on Alpari there are quite a few cross pairs that display the points away incorrectly.
Attached Image (click to enlarge)
Click to Enlarge Name: points-away.jpg Size: 64 KB
  • #838
  • Sep 12, 2013 2:42am Sep 12, 2013 2:42am
Version 4.0.0 Released


12-Sep-2013
Version 4.0.0 Modified by Alan Prothero
Revived SlipCheck and Stop Loss Reset Code and MaxSlippage
Changed Head Up Display of 'High' to show Bid Price not Ask, 'Buy Order' is High + Spread + Pointsaway
Ensure ModifyGap can't be set higher than 20

For those of you that liked the Anti Slippage stuff from Version 2, I have merged the code with Version 3 and brought it into Version 4. So there isn't really any excuse to use old versions any more! All of the Slippage stuff can be turned off by setting SlipCheck='false'

What SlipCheck does is it resets your SL and TP distances based on the level your order was opened at. So if you had 10 pips SL and you were slipped 20, it will move your SL from 30 back to 10 again. Now if there is a retrace after that you may get stopped out so use with caution....

Also MaxSlippage doesn't work directly with the broker to set a maximum slippage parameter on your orders. In MT4, it's not possible to do that. Basically it emergency closes your trade as soon as possible if you have been slipped beyond the level specified. The idea is to minimize losses. However, trades with big slippage are often big movers which may come good after a while if you leave them open, so again use with caution......

There is more info about these in the Readme etc.

Alan
Attached File(s)
File Type: zip Amazing EA 4-0-0.zip   49 KB | 962 downloads
  • #839
  • Sep 12, 2013 2:51am Sep 12, 2013 2:51am
Quoting EventHorizon
{quote} Here is a pic attached. As I say it is fine with IBFX, but on Alpari there are quite a few cross pairs that display the points away incorrectly. {image}

Ahah, I know what it is. Pointsaway is set to the Minimum distance that broker allows for that symbol. On EURAUD, Alpari must have a minimum distance of 10 pips to Pending Orders. On IBFX, it must be less than 5 pips (probably 2 or 3).

You can check what the minimum distance is by setting Pointsaway=0 and temporarily switching off Allow Live Trading if you are worried orders might go live.

I'm glad about that as I thought it might be a bug, which always come out as soon as you release a major update

Alan
  • #840
  • Sep 12, 2013 3:16am Sep 12, 2013 3:16am
Quoting Alan111S
{quote} Ahah, I know what it is. Pointsaway is set to the Minimum distance that broker allows for that symbol. On EURAUD, Alpari must have a minimum distance of 10 pips to Pending Orders. On IBFX, it must be less than 5 pips (probably 2 or 3). You can check what the minimum distance is by setting Pointsaway=0 and temporarily switching off Allow Live Trading if you are worried orders might go live. I'm glad about that as I thought it might be a bug, which always come out as soon as you release a major update Alan

Yes. I had the same thought just before I read you post. On the EUR/AUD the Minimum distance must be 100. Because other crosses range between 70 and 80, even if I have 50 set. All the majors I have tested go the 50.

Thanks heaps Alan for your updated EA and continued commitment ans support.
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