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  • #6,721
  • Jan 15, 2014 8:12pm Jan 15, 2014 8:12pm
Quoting Bob_Loblaw
{quote} Yeah, so these are my settings for that. I just set $2, or 10ish pips just so I at least make a little bit and it doesn't end up negative a couple of pips as the script is closing each individual position. And it's the profit for the total 14 pair, or BE, which is set once the total 14 pair basket reaches 300 pips. {image}
but if your using 0.19 lot for each pair, i think $57 be is too little? i think $200 is minimum for this lot size
Slow and Steady!
  • #6,722
  • Jan 15, 2014 10:01pm Jan 15, 2014 10:01pm
Waiting for long signals...
Slow and Steady!
  • #6,723
  • Jan 15, 2014 10:55pm Jan 15, 2014 10:55pm
Quoting faizpakoh
{quote} but if your using 0.19 lot for each pair, i think $57 be is too little? i think $200 is minimum for this lot size

I'm using mini lots so .19 lot size it $0.19 cents per pip, which adds up to 300 pips to hit BE, which is a great level for my method.
  • #6,724
  • Jan 16, 2014 12:29am Jan 16, 2014 12:29am
Quoting Bob_Loblaw
{quote} Yeah, so these are my settings for that. I just set $2, or 10ish pips just so I at least make a little bit and it doesn't end up negative a couple of pips as the script is closing each individual position. And it's the profit for the total 14 pair, or BE, which is set once the total 14 pair basket reaches 300 pips. {image}
Quite confusing - I think. Let me try and ask a direct question to see IF it would help clarify:

1. I trade the Core14 H4.
2. My lot size = 0.01
3. I want to set my BE to be at $35 (which should be approximately a 350pip move in my favour)
4. I ALSO want $5 as the default lock value IF by BE level of $35 (350pips is hit).

Please Bob, could you show a picture like the one you posted above in post#6720 and ALSO explain how YOU would set the above IF this was your account?

Thanks a gazillion...I've been TRYING to understand this for a while now.

Regards,

Ty
My job: I speculate and manage risk.
  • #6,725
  • Jan 16, 2014 2:01am Jan 16, 2014 2:01am
Hey TyLami,
Hopefully this works, first time uploading a screen shot. But this should see you right for your BE settings.
Attached Image
  • #6,726
  • Jan 16, 2014 3:54am Jan 16, 2014 3:54am
Quoting TyLamai
{quote} Quite confusing - I think. Let me try and ask a direct question to see IF it would help clarify: 1. I trade the Core14 H4. 2. My lot size = 0.01 3. I want to set my BE to be at $35 (which should be approximately a 350pip move in my favour) 4. I ALSO want $5 as the default lock value IF by BE level of $35 (350pips is hit). Please Bob, could you show a picture like the one you posted above in post#6720 and ALSO explain how YOU would set the above IF this was your account? Thanks a gazillion...I've been TRYING to understand this for a while...
I think there is an error in my question above...

It seems a 350pip move is NOT equivalent to $35...


0.01 lots times (x) 350 pips move = $3.5

and NOT $35 right?

Since am MORE interested in the 350 BE level than the Dollar value, maybe I OUGHT to be setting my BE to $3.5 and my Default lock value to (0.01 lots times (x) 10 pips = $0.10 cents! profit)

Well...I guess this is progress...

Please more input from Bob & Findogg (and others willing to help clarify further) will be MUCH appreciated.


Regards,

Ty
My job: I speculate and manage risk.
  • #6,727
  • Jan 16, 2014 3:59am Jan 16, 2014 3:59am
Quoting Findogg
Hey TyLami, Hopefully this works, first time uploading a screen shot. But this should see you right for your BE settings. {image}
Thanks Findogg am close to conquering this dialog box yet!

I believe this is the LAST piece of my BTS trading system. Because as I have mentioned many times before, ENTRIES are the easy part.

Trade management and EXITS are the killers.

I say so because EXCEPT for those trades which go really far before the exits show, MOST trades end up in LOSES by the time the exit signal shows...this leave BE as the ONLY viable resort.

Unfortunately, Kos doesn't use t101 to manage his BE (i think) and the settings PDF is somehow cryptic to say the least.

So IF I am to get it really right, then I MUST get a hang of these settings.

Thank you for ALL your effort to help out (all of ya!)

Regards,

Ty
My job: I speculate and manage risk.
  • #6,728
  • Jan 16, 2014 5:22am Jan 16, 2014 5:22am
Quoting TyLamai
{quote} I think there is an error in my question above... It seems a 350pip move is NOT equivalent to $35... 0.01 lots times (x) 350 pips move = $3.5 and NOT $35 right? Since am MORE interested in the 350 BE level than the Dollar value, maybe I OUGHT to be setting my BE to $3.5 and my Default lock value to (0.01 lots times (x) 10 pips = $0.10 cents! profit) Well...I guess this is progress... Please more input from Bob & Findogg (and others willing to help clarify further) will be MUCH appreciated. Regards, Ty

Yep, that's right. The value is the important part. I set everything to TRUE just to cover all of my bases. So...

0.01 Lot Size with no trailing and BE set at 350 pips
Use Trailing = TRUE
Trail Fixed = TRUE
Fixed Trail Value = 9999.0 - This is set to 9999.0 pretty much to tell the script that I don't want to use it, but I want it enabled.
Trail Percent = TRUE
Trail Pcentage = 0.0 - Again, this is probably redundant to have Trail Percent on and the percentage 0, but it works for me. I think you could have Trail Percent FALSE and it would be the same.
Dft Trailing at Value = 9999.0 - This is set because I don't want to use trailing, but I want it to be enabled. It's weird but I don't think BE lock will work without this setting on.
Dft Break Even at Value = 3.5 - This would be equal to 350 pips at 0.01 lot size.
Dft Lock at Value = 0 - This would take the basket out if the value of your basket falls back to zero. I leave mine at $2 just so it doesn't go a couple of pips negative as the script is closing each pair.

This is what works for me, some stuff may be redundant, but I kind of just fell into them and found they worked so I just left them.
  • #6,729
  • Jan 16, 2014 5:24am Jan 16, 2014 5:24am
I got in a little bit late because I didn't wake up in time, but have just entered short on the XO 1500.
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-01-16_0527.png Size: 74 KB
  • #6,730
  • Edited 5:59am Jan 16, 2014 5:48am | Edited 5:59am
Quoting Bob_Loblaw
{quote} Yep, that's right. The value is the important part. I set everything to TRUE just to cover all of my bases. So... 0.01 Lot Size with no trailing and BE set at 350 pips Use Trailing = TRUE Trail Fixed = TRUE Fixed Trail Value = 9999.0 - This is set to 9999.0 pretty much to tell the script that I don't want to use it, but I want it enabled. Trail Percent = TRUE Trail Pcentage = 0.0 - Again, this is probably redundant to have Trail Percent on and the percentage 0, but it works for me. I think you could have Trail Percent FALSE and it would...
Sorry i'm little confuse about your breakevenatvalue setting, as far as i know it's mean it will trigger BE function if price reach that value, so if you set the value to $3.5 it will trigger as soon your profit reach $3.5, am i wrong?

for example i use 0.01 = 0.14 lot size

i set breakeven value at 30$ which mean the ea will activate BE when it reach that price

so if i profit more than 30$ the ea will activate BE, and the price falls back to 2$ profit(Lock at value = 2$) it will close order immediately
Slow and Steady!
  • #6,731
  • Jan 16, 2014 6:09am Jan 16, 2014 6:09am
Quoting Bob_Loblaw
{quote} Yep, that's right. The value is the important part. I set everything to TRUE just to cover all of my bases. So... 0.01 Lot Size with no trailing and BE set at 350 pips Use Trailing = TRUE Trail Fixed = TRUE Fixed Trail Value = 9999.0 - This is set to 9999.0 pretty much to tell the script that I don't want to use it, but I want it enabled. Trail Percent = TRUE Trail Pcentage = 0.0 - Again, this is probably redundant to have Trail Percent on and the percentage 0, but it works for me. I think you could have Trail Percent FALSE and it would...
Thank you VERY much sir!

This is EXACTLY what I needed. I will test it out immediately.

Regards,

Ty
My job: I speculate and manage risk.
  • #6,732
  • Jan 16, 2014 6:20am Jan 16, 2014 6:20am
Quoting Bob_Loblaw
I got in a little bit late because I didn't wake up in time, but have just entered short on the XO 1500. {image}
Any particular reason why XO 1500?

Just asking.

Ty
My job: I speculate and manage risk.
  • #6,733
  • Jan 16, 2014 6:57am Jan 16, 2014 6:57am
Quoting TyLamai
{quote} Thank you VERY much sir! This is EXACTLY what I needed. I will test it out immediately. Regards, Ty
I opened a quick SELL basket which is currently at 316 points!

The t101 BE settings WORKED PERFECTLY!!!

I set the EA to trigger BE at 250 pips and lock $0.50 cents which it did amazingly.

So now the worst that this quick SELL basket can do is 50cents! Nice. NOW I understand what Kos has been trying to say since about BE being KEY!

Bob...

YOU sir are the man.

Thanks,


Ty
My job: I speculate and manage risk.
  • #6,734
  • Jan 16, 2014 7:53am Jan 16, 2014 7:53am
Quoting Kosomolate
long BE now @ +350 kos {image}
How did this trade end for you sir?

I can't say certainly but it seems that price returned back to BE?

Ty
My job: I speculate and manage risk.
  • #6,735
  • Jan 16, 2014 9:16am Jan 16, 2014 9:16am
Quoting faizpakoh
{quote} Sorry i'm little confuse about your breakevenatvalue setting, as far as i know it's mean it will trigger BE function if price reach that value, so if you set the value to $3.5 it will trigger as soon your profit reach $3.5, am i wrong? for example i use 0.01 = 0.14 lot size i set breakeven value at 30$ which mean the ea will activate BE when it reach that price so if i profit more than 30$ the ea will activate BE, and the price falls back to 2$ profit(Lock at value = 2$) it will close order immediately

Yep, that's right.
  • #6,736
  • Jan 16, 2014 9:32am Jan 16, 2014 9:32am
Quoting TyLamai
{quote} Any particular reason why XO 1500? Just asking. Ty

Yeah, for me, 1060 is too small a box size on the H4. It whipsaws quite a bit in the sense that the XO is changing too often for my taste. With 1500 I get into trades a bit late, like this latest trade I think the 1500 was about 180 pips behind the 1060 XO. But also what I do in my method is go for a 600 pip TP on every trade.

I've done significant back-testing, which can be tough with the offline charts since the wicks aren't very accurate, but I averaged out the moves that are made after a trade is entered on the 1500 XO. They're roughly 730 pips on average. So my method is enter on the 1500 XO change, set BE to 300 pips, set TP to 600 pips. If my BE is taken out, don't try to reenter, I wait until the next XO change. If my TP is hit I'm out until the next XO change, even if price keeps going the way I was in, I still stay out. UNLESS price retraces enough to change the 1060 XO and then change it back to way 1500 XO is pointing, then I'll reenter using 1060.

As long as I get my 600 pips per move I am more than happy. I go for 500 pips per week and have been consistently hitting that mark. I don't ride the BMWs, but I'm cool with that as long as my TP is hit. I've lost a lot of money in the past trying to go for every pip I could possibly get.

Kos' method is amazing and it works amazing for him. H4 is the greatest TF because you're not stressing yourself watching charts, but I like it be even bit duller myself.
  • #6,737
  • Jan 16, 2014 9:43am Jan 16, 2014 9:43am
Quoting Bob_Loblaw
{quote} Yep, that's right.
Then you know that our profit go from -10$ to 10$ really quick right? price bouncing like crazy, for sure you will hit your BE if you set at 3.5$
Slow and Steady!
  • #6,738
  • Jan 16, 2014 9:43am Jan 16, 2014 9:43am
Quoting Bob_Loblaw
{quote} Yep, that's right.
I think I found ANOTHER hitch with these settings...

I use a 5-Digit Broker so I guess for me 300 points is actually ONLY approximately $3! Price almost ALWAYS retraces from thence back to $0.

I think I should make my settings 10 times as much right?

E.g.
BE @ 3000pips = $30
DftLockValue @ 500pips = $5
Etc...

Whatdyu think Bob?

Regards,

Ty
My job: I speculate and manage risk.
  • #6,739
  • Jan 16, 2014 9:47am Jan 16, 2014 9:47am
Quoting Bob_Loblaw
{quote} Yeah, for me, 1060 is too small a box size on the H4. It whipsaws quite a bit in the sense that the XO is changing too often for my taste. With 1500 I get into trades a bit late, like this latest trade I think the 1500 was about 180 pips behind the 1060 XO. But also what I do in my method is go for a 600 pip TP on every trade. I've done significant back-testing, which can be tough with the offline charts since the wicks aren't very accurate, but I averaged out the moves that are made after a trade is entered on the 1500 XO. They're roughly...
Ok. Thx for explaining. Your system of BT-ing is great. I for one CAN'T bear leaving the broker ANY pip whatsoever.

You've truly been a great help to me today - Thank you.

Ty
My job: I speculate and manage risk.
  • #6,740
  • Jan 16, 2014 9:52am Jan 16, 2014 9:52am
Quoting TyLamai
{quote} Ok. Thx for explaining. Your system of BT-ing is great. I for one CAN'T bear leaving the broker ANY pip whatsoever. You've truly been a great help to me today - Thank you. Ty

You're welcome, Ty!
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