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Who is up at 3am EST to trade?

  • #21
  • Jul 17, 2006 4:23pm Jul 17, 2006 4:23pm
Here's a link to the expert. Sorry, it's on another forum.

http://strategybuilderfx.com/showthread.php?t=16297
  • #22
  • Jul 17, 2006 4:49pm Jul 17, 2006 4:49pm
Heck no I don't get up at 3... that's probably part of my problem... heh.

I have a strategy where I set my trades at midnight, and go to bed. I either get up with pips or I've given some back.

I also have a multi-day swing strategy that I run so if at any time I can't do the midnight, I'm still able to trade ok.
Mr. Trend
  • #23
  • Jul 17, 2006 4:53pm Jul 17, 2006 4:53pm
Philipines and France works fine for me.
  • #24
  • Jul 17, 2006 4:57pm Jul 17, 2006 4:57pm
Quoting stockwet
Here's a link to the expert. Sorry, it's on another forum.

http://strategybuilderfx.com/showthread.php?t=16297
Do you use this with news trades? Any issues there?

Thanks,

Jason
  • #25
  • Jul 17, 2006 5:03pm Jul 17, 2006 5:03pm
tried that. but a bit more daily trader currently
  • #26
  • Jul 17, 2006 6:41pm Jul 17, 2006 6:41pm
Quoting jlowder
Do you use this with news trades? Any issues there?

Thanks,

Jason
I use it with all kinds of stuff, even NFP. It works great. Sometimes, I have to adjust my strategy, but, that isn't relevant for the expert - I just change the parameters as needed. For instance, during a volatile announcement, I might not want to move stops at 10 pips if it's bouncing back and forth. I can either turn the expert off or change the parameters. I'm at the point where I don't like trading without it, even if I'm in front of the computer. It forces me to follow my TP and exit rules.
  • #27
  • Jul 17, 2006 9:53pm Jul 17, 2006 9:53pm
Quoting stockwet
I use it with all kinds of stuff, even NFP. It works great. Sometimes, I have to adjust my strategy, but, that isn't relevant for the expert - I just change the parameters as needed. For instance, during a volatile announcement, I might not want to move stops at 10 pips if it's bouncing back and forth. I can either turn the expert off or change the parameters. I'm at the point where I don't like trading without it, even if I'm in front of the computer. It forces me to follow my TP and exit rules.
Ok, so I downloaded the second EA you had on that site which removed the max loss values. I'm a bit confused about the stop loss usage though.

I set my first profit at 20, with the increment being 20 (so my next profit would be 40)
My close lots are set such that half are closed at 20 and the rest at 40
Now, according to the other forum, the first stop value is a stop loss value that is not set until you have reached your first take profit. If this is the case, is there no stop loss set prior to that?

I set the stop loss to 20, which I think means that once my first profit is taken, set my stop loss to that value (which was the point of my first profit) for my second (or remaining) lots.

Why would the stop differential not be from the point where the last profit was taken? that way each time a profit is taken, the stop loss moves from that point, not that the original price?

And to turn off stops altogether, I just set the move stops to false?

Thanks for the clarification.

Jason
  • #28
  • Jul 17, 2006 10:34pm Jul 17, 2006 10:34pm
Quoting jlowder
Yeah, except my wife is a light sleeper. She'd love that. Ever been married to a red head? :-)

I need a watch with a vibrating alarm....

Fortunately for me my wife also trades forex. She, however, does not hear my alarm clock and requests that I wake her when I get up for the european session. I'm in Houston, TX, USA, central standard time.

Last night I really should have awakened her. I got up when my alarm went off, started my computer, and then fell asleep at my desk while the GBPUSD went over 100 pips short. That is embarassing.
  • #29
  • Jul 17, 2006 10:54pm Jul 17, 2006 10:54pm
Sleep is overrated!

For years I've gone with 4-5 hours sleep a night on weekdays and then I get a good nap or two on the weekend. Luckily last night I set my stop loss and t/p at exactly the right place for a really sweet profit.

Squid
  • #30
  • Jul 17, 2006 11:37pm Jul 17, 2006 11:37pm
Quoting smjones
I get up everynight at 02:00 ET I trade until about 11:00 ET. I have done this for over three years now and it works great for me. I however have never slept more than 4 hours a night so it is no big deal.

To stay in my schedule, I even get up near this time on the weekends...

It's like I am living 2 lifetimes. LOL Scott
I agree w/ smjones those are the hours to trade if your looking to make money in this market.


turbo
  • #31
  • Jul 18, 2006 12:08am Jul 18, 2006 12:08am
Quoting turbokaos
I agree w/ smjones those are the hours to trade if your looking to make money in this market.
Definetly is.

I was backtesting an EA a month or two ago.

One optimisation that worked was to limit trades to a time between an hour before London open and ending around 4 hours after New York open.

Any other time has a higher probability of low pip movement and whipsaws. Or just gets you in at the end of tradable movements.
Bundy's status today: "Waiting..."
  • #32
  • Jul 18, 2006 1:03am Jul 18, 2006 1:03am
Quoting stockwet
Here's a link to the expert. Sorry, it's on another forum.

http://strategybuilderfx.com/showthread.php?t=16297
Stockwell....

thank you for this EA..now I can take a nap at ease....No more counting the pips to sleep..lol
  • #33
  • Jul 18, 2006 1:31am Jul 18, 2006 1:31am
You think those hours are bad!

Try living in on the east coast of Australia and trading! London starts at 7pm here and doesnt finish till 1am during the winter. And it starts at 9pm and doesnt finish till 3 am during the summer.

The bastards over in Perth (the west coast) have it easier...2 hour time difference. London session 5pm-11pm during Winter, and 7pm-1am during summer.
  • #34
  • Jul 18, 2006 1:33am Jul 18, 2006 1:33am
Quoting Rusty_forexman
You think those hours are bad!

Try living in on the east coast of Australia and trading! London starts at 7pm here and doesnt finish till 1am during the winter. And it starts at 9pm and doesnt finish till 3 am during the summer.

The bastards over in Perth (the west coast) have it easier...2 hour time difference. London session 5pm-11pm during Winter, and 7pm-1am during summer.
You blokes over in Oz aren't quite right anyway, are ya?
Mr. Trend
  • #35
  • Jul 18, 2006 1:35am Jul 18, 2006 1:35am
hahahahaa.... spot on lol http://us.i1.yimg.com/us.yimg.com/i/...ticons7/21.gif
  • #36
  • Jul 18, 2006 1:37am Jul 18, 2006 1:37am
Im such an insomniac...My best trading times are from 1AM-7AM EST


Then I might go to sleep, depending on how early I have to go to work later that day
Nothing is hard, some things just take more time and discipline.
  • #37
  • Jul 18, 2006 2:20am Jul 18, 2006 2:20am
I'm up... coffee in hand, package of Blueberry Pop Tarts. Sitting here in my PJs... LOL Scott
  • #38
  • Jul 18, 2006 2:34am Jul 18, 2006 2:34am
Quoting Mr Trend
You blokes over in Oz aren't quite right anyway, are ya?
hahaha, whats that suppose to mean?

more right than you'll ever be!
  • #39
  • Jul 18, 2006 3:41am Jul 18, 2006 3:41am
Quoting Rusty_forexman
You think those hours are bad!

Try living in on the east coast of Australia and trading! London starts at 7pm here and doesnt finish till 1am during the winter. And it starts at 9pm and doesnt finish till 3 am during the summer.

The bastards over in Perth (the west coast) have it easier...2 hour time difference. London session 5pm-11pm during Winter, and 7pm-1am during summer.
Hey, at least it's winter for you right now.

So what are the time zones for Melbourne, Brisbane and Adelaide?
  • #40
  • Jul 18, 2006 3:50am Jul 18, 2006 3:50am
Quoting jlowder
Ok, so I downloaded the second EA you had on that site which removed the max loss values. I'm a bit confused about the stop loss usage though.

I set my first profit at 20, with the increment being 20 (so my next profit would be 40)
My close lots are set such that half are closed at 20 and the rest at 40
Now, according to the other forum, the first stop value is a stop loss value that is not set until you have reached your first take profit. If this is the case, is there no stop loss set prior to that?

I set the stop loss to 20, which I think means that once my first profit is taken, set my stop loss to that value (which was the point of my first profit) for my second (or remaining) lots.

Why would the stop differential not be from the point where the last profit was taken? that way each time a profit is taken, the stop loss moves from that point, not that the original price?

And to turn off stops altogether, I just set the move stops to false?

Thanks for the clarification.

Jason
The expert on the first post is the most recent one. You may want to grab that one and just set the "Use_Max_Loss" to false if you don't want to use that feature.

OK. On the stop loss feature, there are 3 primary features. First, there's the Max_Loss. This is a traditional stop loss that works before the move stops feature kicks in. It doesn't, however, place a stop as part of the order. It manages it "silently". Max loss can be turned on and off with the Use_Max_Loss value.

Then, there's the move stops feature. This has two sub features. First, there's the First_Stop feature. This is the number of pips the price goes in your favor before a stop is set. This feature is independent of the Take Profit feature. You can align it to your TP value, but, don't have to. If my First_Stop value is 20 and my TP feature is 20, then

The second sub feature is the Differential. This is the amount from 0 profit that you want the stop moved to. So, if you put 5 in there, and entered on a buy trade at 1.8235, then your order will be modified so that the stop is 1.8240. If you put -5, then the SL would be 1.8230 and you'd take a 5 pip loss on the trade if it came back against you. You turn this feature off by setting Use_Move_Stops to false.

For your last question, that's just how I programmed the differential. Your suggestion is a pretty good idea. I might actually look at implementing that. One problem I have is that if my first TP is reached and I go in to reset my differential and first stop target, then I can end up messing up my trade if I forget to adjust the first target value to. If had plenty of trades taken out at 20 then 22 thanks to this boneheadedness.

Thanks for taking a look at it. Let me know if you make any improvements to it.

Regards,

stockwet
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