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As simple as possible: 00 level trading

  • #2,081
  • Jun 12, 2014 10:40am Jun 12, 2014 10:40am
Quoting Udine
{quote} nope, neutral for the day, if I would have taken the EJ and GJ trades of the London open I would be down for the day for 5 pips Udine
Hi Udine - happy World Cup Day! I'm a bit confused how you are neutral for the day - just trading the ej and gj I'm at 4 losses 1 win and 4 BE/Partial Wins.

All I can think is that my open is GMT so that is different so I will try to change it to the US close. - Also before in the thread I thought you said that you don't trade levels that are close to the Daily Open, but I notice this is not in your updated rules? Can you clarify if this is right? And if so how many pips away from the daily do you consider too close to trade (for example the EJ 138.100 and 130.000 are both quite close to my (GMT) open) ?

Cheers!
  • #2,082
  • Jun 12, 2014 10:44am Jun 12, 2014 10:44am
Quoting chaosbun
Updated the EA with parameter Now you can set your own timezone for 2nd parameter, if server time is now 18 and your clock is 11, you will use Minus. if your time is 8am and server time is 5am now, you will use the word Add Other parameter is quite straight forward, such as TP, SL, lotSize etc. Trail stop is for trailing, trail start is also for trailing profit. Trail start is the "minimum profit" you will make, e.g if you set as Default : 1 Your trade will at least close in 1 pip profit, while trail stop is the difference between the high and your...
does this trade on its own or do i hv to set pending orders ?
  • #2,083
  • Jun 12, 2014 10:45am Jun 12, 2014 10:45am
Quoting unimak
{quote} does this trade on its own or do i hv to set pending orders ?
It trade on it own, best is you test with a demo account.

Remember allow live trading, should show a smiley face.
Learn to Trade is Important. Keep your bias & ego aside.
  • #2,084
  • Jun 12, 2014 10:46am Jun 12, 2014 10:46am
thanks mate testing it right now
  • #2,085
  • Jun 12, 2014 10:47am Jun 12, 2014 10:47am
This EA is not profitable because it does not consider Support & Resistance, and other market factors at current version.
I need input and suggestion from you guys to improve it, and release the patches over this thread.

Together we shall make money as retail traders


What this EA do is


Open trade base on

Day Open Price + Hour Open Price & 00 Level
SL 10 pips, TP 5 pips.

Trail 3 pips, + 1 pip gurantee , total 4 pips to begin trail and 3 pips is the distance in long run ( can be change at param)

Almost from what is understand from this thread on the Ideology of 00 level trading, but if there is something lacking, do let me know.


Version 2 Release & Change Log : 00 Level Auto Expert Advisor Trading Bot - http://www.forexfactory.com/showthre...71#post7531971


No virus or whatever, I uploaded the source code, not ex4. You can edit if you want to. You can let me know if you want make any modification to improve entry/exit/money management


Free goodwill service.
Learn to Trade is Important. Keep your bias & ego aside.
  • #2,086
  • Jun 12, 2014 10:55am Jun 12, 2014 10:55am
1. one trade per hour
2. filtering red news to stop opening orders 1 hour before the news and 30 mins post news
3.only "No short @ .100" and "No long @ .900"

these need to be implemented then the EA will be gr8
  • #2,087
  • Jun 12, 2014 11:14am Jun 12, 2014 11:14am
Quoting unimak
1. one trade per hour 2. filtering red news to stop opening orders 1 hour before the news and 30 mins post news 3.only "No short @ .100" and "No long @ .900" these need to be implemented then the EA will be gr8
Make them flexible in the EA. The option to turn on/off
  • #2,088
  • Jun 12, 2014 11:15am Jun 12, 2014 11:15am
Quoting unimak
1. one trade per hour 2. filtering red news to stop opening orders 1 hour before the news and 30 mins post news 3.only "No short @ .100" and "No long @ .900" these need to be implemented then the EA will be gr8

-> 1 Trade per hour is already coded in.
-> No long at .900 and .100 is possible, so you mean we only trade .000 , .200 - .800
-> Filter news need some time to code out.
Learn to Trade is Important. Keep your bias & ego aside.
  • #2,089
  • Jun 12, 2014 11:16am Jun 12, 2014 11:16am
One of you EA Masters;

In using the new combo EA just curious; if you want the EA to run with no TP and just use the TS, it will work by entering 0's in the Hidden TP box and then the TS will close the order when hit ?

Regards,
Cigarguy
Keep It Simple
  • #2,090
  • Jun 12, 2014 11:18am Jun 12, 2014 11:18am
Quoting chaosbun
{quote} -> No long at .900 and .100 is possible, so you mean we only trade .000 , .200 - .800
No it means:

Quoting unimak
3.only "No short @ .100" and "No long @ .900"
  • #2,091
  • Jun 12, 2014 11:18am Jun 12, 2014 11:18am
Quoting chaosbun
No long at .900 and .100 is possible, so you mean we only trade .000 , .200 - .800
No. We do trade .100 and .900 ... but in 1 way only.

.100 only BUY
.900 only SELL
MT4/MT5 EAs/Indicators/Alerts coder
  • #2,092
  • Jun 12, 2014 11:19am Jun 12, 2014 11:19am
Quoting FerruFx
{quote} No. We do trade .100 and .900 ... but in 1 way only. .100 only BUY .900 only SELL
Ohh lol sorry sorry !! I go change it now , i understand now
Learn to Trade is Important. Keep your bias & ego aside.
  • #2,093
  • Jun 12, 2014 11:19am Jun 12, 2014 11:19am
Quoting Hong Long
{quote} No it means: {quote}
Exactly
MT4/MT5 EAs/Indicators/Alerts coder
  • #2,094
  • Jun 12, 2014 11:19am Jun 12, 2014 11:19am
Quoting cigarguy
One of you EA Masters; In using the new combo EA just curious; if you want the EA to run with no TP and just use the TS, it will work by entering 0's in the Hidden TP box and then the TS will close the order when hit ? Regards, Cigarguy
I think you set 100 will be better, then the SL will be modify by itself when its trailing.
Learn to Trade is Important. Keep your bias & ego aside.
  • #2,095
  • Jun 12, 2014 11:23am Jun 12, 2014 11:23am
Updated

Version 3:

No short @ .100 and No Long @ .900

Still lack of news filter, support/resistance detect capability.

All suggestions welcome


For anyone dont know how to set timezone, when you pull the EA to your chart, the alert will popup Server time now, if you miss it is fine.

On your chart there is a Label " Current Hour : " .

If Current hour is 19 and your local time is lets say 3AM

You do the counting

20 .. 21 .. 22 .. 23 .. 00 .. 01 .. 02 .. 03

That is 8 hours , for the 2nd parameter it will be "Add"


But if the current server hour is 19 and your local time is 16 (4pm)

Then you will set 3 for timezone diff and "Minus" for 2nd parameter


The 2 parameter is either Add / Minus

Anyway if you typo , then it will use Add by default because I use a simple logic..

This is not a key important thing , just it set to trade at Tokyo Open To New York + 2 Hours.
Attached File(s)
File Type: mq4 chaosbun_00_level_v3.mq4   14 KB | 655 downloads
Learn to Trade is Important. Keep your bias & ego aside.
  • #2,096
  • Jun 12, 2014 11:29am Jun 12, 2014 11:29am
Quoting chaosbun
{quote} I think you set 100 will be better, then the SL will be modify by itself when its trailing.

chaosbun,

OK, I see what you mean. So just set the TP extremely high and then the 3.5 pip trailing SL will close when it reverses. Is this correct? I ask because in 10years, I have never used an EA's, always traded manually.

Regards,
Cigarguy
Keep It Simple
  • #2,097
  • Jun 12, 2014 11:29am Jun 12, 2014 11:29am
Quoting chaosbun
Still lack of news filter, support/resistance detect capability. All suggestions welcome {file}
Not sure whether you're aware or not that support/resistance is not part of this method. Just mentioning this.
  • #2,098
  • Jun 12, 2014 11:31am Jun 12, 2014 11:31am
Quoting Hong Long
{quote} Not sure whether you're aware or not that support/resistance is not part of this method. Just mentioning this.
I know, but as that is what the human eyes can see and the EA can't see, I remember someone mention about not to open position at support or resistance zone.
Anyway I din't code it in because it will need more calcuation and different mt4 have different bar setting.
Learn to Trade is Important. Keep your bias & ego aside.
  • #2,099
  • Jun 12, 2014 11:32am Jun 12, 2014 11:32am
some warning when compil as :

return value of 'OrderSelect' should be checked chaosbun_00_level_v3.mq4 330 7
return value of 'OrderModify' should be checked chaosbun_00_level_v3.mq4 503 13
return value of 'OrderModify' should be checked chaosbun_00_level_v3.mq4 509 13



mt4 version 4 build 646

Is it working with that ?
  • #2,100
  • Jun 12, 2014 11:32am Jun 12, 2014 11:32am
Quoting cigarguy
{quote} chaosbun, OK, I see what you mean. So just set the TP extremely high and then the 3.5 pip trailing SL will close when it reverses. Is this correct? I ask because in 10years, I have never used an EA's, always traded manually. Regards, Cigarguy

If you want to TP by trail stop, then you will set TP extremely high.

If you want play NO Stop loss until win. you will set SL extremely high, because it will either have 3 situation


1) Your account burst
2) You close position in SL by Break Even + N Pips
3) Your position continue run because trade din't get into the positive zone yet.


By default I set TP as 5 and SL as 8 (because you need add 2 more pips for the spread) , well as of now I don't use dynamic spread calculation.

So I roughly assume spread to be 2.
Learn to Trade is Important. Keep your bias & ego aside.
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