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  • #31,601
  • Mar 2, 2014 10:45pm Mar 2, 2014 10:45pm
Quoting darranforex
{quote} For example, if you enter 300, it turns into 30. .
For 5 digit brokers, value of 300 means 30 pips.

Quoting darranforex
{quote} I don't therefore understand how to enter a value such as 15. Perhaps the answer is in fact clearly stated somewhere in their forums, and I just cant see the forest through the trees. Any help would be appreciated in setting the parameters for MPTM (Multi Purpose Trade Manager).
15 what? pips?

For 4 digit brokers 15 pips = 15

For 5 digit brokers 15 pips = 150
福 子 Victor V
  • #31,602
  • Mar 3, 2014 2:12am Mar 3, 2014 2:12am
Quoting emmanuel7788
AU week 10 Big Picture Planning; We have several big news items this week, so it will be a volatile week for AU so we must have both a Plan A and a Plan B. Technically, the charts says bearish, but anything can happen so having a Plan B for 4H swing is important to take advantage of the volatile moves. The same for AJ, so please do your own top down analysis and make your trade plans ready for this week. Trade Safe! EMMANUEL {image}
Hi Emmanuel,

great analysis. Why did you choose AU?
  • #31,603
  • Mar 3, 2014 2:40am Mar 3, 2014 2:40am
Quoting Kanderpro
{quote} Hello fhm, Another perspective: 1. Look at the Endeavor Trends Report that Phx62 referred to recently. The "big boys" and the news move the market. 2. Read Emmanuel's posts on classifying the market into trending, wide range and narrow range. GJ is in a c.150 pip range, EJ a c.200 pip range and EU, EA and ECad are still trending. 3. pick a pair or pairs that have a greater ADR14 than EU's current measly amount. GJ, EJ, EA and ECad are between 106 and 141. With EU in its current state, you could wait hours for 20 pips. I suggest picking a...
Thanks, appreciate the input
  • #31,604
  • Mar 3, 2014 4:31am Mar 3, 2014 4:31am
Quoting Phx62
{quote} Success to each of you in your efforts to become profitable traders. It can be done!! I know because forex trading is building me a nice retirement nest egg.
Reassuring to know it can be done, and many thanks for your contributions Phx62 which I enjoy reading, and have found very inspiring!
  • #31,605
  • Mar 3, 2014 4:40am Mar 3, 2014 4:40am
is that what is affecting the markets? I took EU and EJ both short but they stalled in negative territory since.
  • #31,606
  • Mar 3, 2014 4:58am Mar 3, 2014 4:58am
Quoting wnabo
is that what is affecting the markets? I took EU and EJ both short but they stalled in negative territory since.
EURUSD put in 170 pips Thurs/Fri so not unreasonable for a period of accumulation. Also Draghi this afternoon and US news...and its Monday!
  • #31,607
  • Mar 3, 2014 6:38am Mar 3, 2014 6:38am
Everytime I refresh the template the TDI seems to repaint, is it normal or am I using a strange version of the indicator?

Thanks for your help.
  • #31,608
  • Mar 3, 2014 7:03am Mar 3, 2014 7:03am
Thank you camvcvoo,

I incorrectly cited my example. In MPTM, if I enter 10, it represents 100 pips. This is the inverse of common operation. I fully understand points and percentage in points (pips). If I enter 1, it equals 10 pips. That's the way it is using MPTM with my particular 5 digit broker. I was hoping someone who actually uses MPTM w/ a 5-digit broker might know if this is fixable. Of course there are 100 points to 10 pips. The issue with the MPTM EA is that entering values is flipped. Entering 2 to represent 20 pips is no big deal. But then, how do you set a BE+2 pips? You can't enter 0.2. That's why this mptm is so frustrating. I believe it only works with certain brokers.
  • #31,609
  • Mar 3, 2014 7:13am Mar 3, 2014 7:13am
Quoting darranforex
Thank you camvcvoo, I incorrectly cited my example. In MPTM, if I enter 10, it represents 100 pips. This is the inverse of common operation. I fully understand points and percentage in points (pips). If I enter 1, it equals 10 pips. That's the way it is using MPTM with my particular 5 digit broker. I was hoping someone who actually uses MPTM w/ a 5-digit broker might know if this is fixable. Of course there are 100 points to 10 pips. The issue with the MPTM EA is that entering values is flipped. Entering 2 to represent 20 pips is no big deal. But...
I've never used that particular EA but I have never heard of any Trade management EA where you have had to put in 10 to mean 100 pips, that would just be plain unworkable! If that is the case (which I just can't imagine) find another EA/script??
  • #31,610
  • Mar 3, 2014 7:15am Mar 3, 2014 7:15am
Quoting darranforex
Thank you camvcvoo, I incorrectly cited my example. In MPTM, if I enter 10, it represents 100 pips. This is the inverse of common operation. I fully understand points and percentage in points (pips). If I enter 1, it equals 10 pips. That's the way it is using MPTM with my particular 5 digit broker. I was hoping someone who actually uses MPTM w/ a 5-digit broker might know if this is fixable. Of course there are 100 points to 10 pips. The issue with the MPTM EA is that entering values is flipped. Entering 2 to represent 20 pips is no big deal. But...
I use MPTM. To have a BE of +1 pip I set BreakEvenProfit to 10.
  • #31,611
  • Mar 3, 2014 7:19am Mar 3, 2014 7:19am
Quoting niktrad
{quote} I use MPTM. To have a BE of +1 pip I set BreakEvenProfit to 10.
Thats the way it should be so clearly darranforex is misunderstanding something along the way.
  • #31,612
  • Mar 3, 2014 2:23pm Mar 3, 2014 2:23pm
Did someone trade today ? please post your charts
  • #31,613
  • Mar 3, 2014 2:57pm Mar 3, 2014 2:57pm
Quoting Fx94
Did someone trade today ? please post your charts
Hello,

I sold eurusd today at 1.3779 and after price went down I moved my SL to 1.3774. Price then bounced back and caught my SL.
Wouldnt I place my SL so defensively....
  • #31,614
  • Mar 3, 2014 4:02pm Mar 3, 2014 4:02pm
Quoting Fx94
Did someone trade today ? please post your charts

EA H4 trade.

Attached Image (click to enlarge)
Click to Enlarge Name: EA H4 week 10 trade.png Size: 39 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #31,615
  • Mar 3, 2014 4:09pm Mar 3, 2014 4:09pm
Quoting mci
{quote} Hi Emmanuel, great analysis. Why did you choose AU?

Hi mci,

AU is one of my regular traded pairs which I trade on daily basis.

Each week i will post and share one Big Picture Planning and for those intersted to follow, they may pick a winning trade.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #31,616
  • Mar 3, 2014 4:32pm Mar 3, 2014 4:32pm
Quoting ababias
{quote} Emmanuel, The average D range for EA is 125 pips for the past 100 days -> What do you mean by EA? We need to have different setup for each H4 trade? In this case, we should have stop loss of 125pips. OK. What about the Target profit? Your R-multiple, risk reward ratio, How many lots should I trade so that 25%,50%,75% profit can be taken at different levels. Please explain. For me the tough one is setting up the SL and TP. Once the setup is done and sticking to it. ADR indicator of PHX62 can't be used on my system on multiple pairs as my...

Hi ababias,

EA is acronym for EURAUD.

Setting of inital SL - use the recent market volatiltity is a better way to stay away for the whipsaw when news time.

TP - when trading 4H swing, look at the market weekly traded range and use that as the target TP. I compare the 52-weeks and 100-weeks traded raneg and set my TP at 60% of that weekly range as the potential TP. When market breaks into trend, it will hit 100% of the weekly range. As traders, our job is to manage the downside i.e. moving our stps and let the market decide the final TP for us.

I do not risk more than 2% of equity per trade. You can use both scaling-out and scaling-in as the market progress in yiur favour. To achieve your profit cycle in shorter number of trading days, scaling-in using protected profits is an effective way.

You don't need any complicated indicator on your charts to show you the average traded range, Simply place the standard ATR using different period. For example, to know the weekly range, use ATR(52) and ATR(100) on a Weekly chart. You will see the ATR and take note of that when you do you trade planning at the begginjg of the week. To know the Day ATR, switch to D1 chart timeframe and read the values.

Hope this explains.


Regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #31,617
  • Mar 3, 2014 4:50pm Mar 3, 2014 4:50pm
Quoting darranforex
{quote} Does anyone know how to use MPTM with an ECN broker that uses all five digits past the decimal point? I've re-read the NB and Hopwood forums over and over, with great alacrity, and there is no clear answer to this. And if one asks in their forums, they are chastised and threatened exclusion. I understand pips versus points setting methodology; but in MPTM, it seems impossible to enter the values correctly in the inputs parameters. For example, if you enter 300, it turns into 30. I don't therefore understand how to enter a value such as 15....

Hi Darran,

MPTM is a monster trade manager expert advisor. You need to tame this monster in order to have full control how to use it.
My current problem with MPTM was self-inflicted because I made some modifications which casued the crash with build610. Lessons learned and now back to the basic version which work well.

There are other trade manager available like THV Cavemanager which many members here use.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #31,618
  • Mar 3, 2014 5:01pm Mar 3, 2014 5:01pm
Week 10 Market Outlook:

With the problems in Europe causing some market jitters and a full economic calendar of news and releases. Many investors turn to safe haven currency.... USD.
and also keep watch on XAU prices

Preservation of capital is top pririoty and more important.

Trade Safe.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #31,619
  • Mar 3, 2014 6:18pm Mar 3, 2014 6:18pm
Thank you Lastingwell and Niktrad,
I understand that there must be something I dont understand. Ive attached pictures of my two trades from last night that I placed after glancing at the last set of H4 candles before I went to bed at 9:30pm here in Bangkok. BKK is exactly 12hrs difference from NY time.
Placing trades and getting out of them is no problem for me, if Im awake. The problem is, I go to bed just about the time NY gets rolling. The dichotomy is that Id like to stay up and trade, however I have a beautiful Thai wife who draws me in like a moth to the flame.
I have several trade managers but the mptm attracts me because of its jumping stop and hedge features. Ive attached two other pictures to show what I enter into the mptm input parameters, and then the resulting chart with the mptm figures in the upper left corner.
As you can see, somethings weird here. I use HotForex as a broker (in this case), and it is clearly mentioned (twice) and accentuated in the forum where I obtained this EA that it may not work on all brokers.
Im not so much looking for interpretation help here, as I am looking rather to see if there is anyone in this forum who has had, and has resolved this issue personally and knows ipso facto what the issue is and its resolve; or has a solid explanation of why to abandon ship with this EA.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: euraudh4.png Size: 26 KB
Click to Enlarge Name: usdchfh4.png Size: 25 KB
Click to Enlarge Name: resulting chart mptm.jpg Size: 252 KB
Attached Image
  • #31,620
  • Edited 7:30pm Mar 3, 2014 7:14pm | Edited 7:30pm
Hey Darran. I live in Bangkok too!

I think trading daily chart suits our timezone pretty well. I usually get up around 6:30, make a quick check on all daily pairs and place order, all done by 7:00 and I'm ready to work.

I can see why you want to be up for NY session. I only trade daily and H1 so trading Frank and London from 2PM to 10PM is not too bad for me.
Everything you can imagine, is real - Pablo Picasso
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