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Mithen expert advisor

  • #101
  • Jul 22, 2014 9:39am Jul 22, 2014 9:39am
Quoting Juan007
LFN in your EA demo myfxbook Could you check the advanced statistics on hourly best time to trade are 2 tokyo open hours 3 and 4 london open hours 11 and 12 what do you think?
Hi Juan,

I'm also experimenting with the best session times to trade. I'm personally thinking about no longer trading the first hour of London and including the first two hours of the Asian session to my portfolio. At the moment I trade the first four hours of the london session and the first 2 hours of the New York session.

Anyone interested to share his thoughts on this?

Best regards,

Frietzak
  • #102
  • Jul 22, 2014 11:27am Jul 22, 2014 11:27am
Quoting Juan007
LFN in your EA demo myfxbook Could you check the advanced statistics on hourly best time to trade are 2 tokyo open hours 3 and 4 london open hours 11 and 12 what do you think?
Hi.
Remember that I am using a broker with GMT+3. So if you are looking at myfxbook for statistics you must know that London is 10:00-19:00, New York is 15:00-24:00 and Asian is 03:00-11:00.

Your analyse of trading hours looks okay to me, but I think we need even more statistics to be sure on this. I will have to lower my lotsize on the demo accouny to 0.01 because results is heading down fast. Or is it possible to put in more money on a demo account?

Juan007 - If you filter your times you can notice that the recommended EJ/GJ/EU/GU pairs is not very good at all!

USDCHF/GBPCHF/CADJPYAUDUSD has performed best! But here I am sure we have to wait for more statistice before making any conclusions.

Anyone tried to find and started trading with suitable correlated pairs for each traded pair?
  • #103
  • Jul 23, 2014 2:38am Jul 23, 2014 2:38am
Here is some statistics of the GBPJPY trades taken since last Monday. Only on the LO open hour.
Mo -10
Tu -10
We -10
Th -10
Fr +5
--
Mo 0
Tu -10
We -10

Total: -55 pips!
It cant be much worse, right?

Last week I did not set distance to daily open, this week I put 8 for that setting. Not sure if it would helped last week.
  • #104
  • Jul 23, 2014 8:19am Jul 23, 2014 8:19am
LFN

could you put the settings of you demo EA please

we can check it and study options

thanks in advance
  • #105
  • Edited 6:43pm Jul 23, 2014 8:49am | Edited 6:43pm
Hi Xux99,

Could you add an option in which we can manually adapt the daily open to our own preference. I know that the daily open is automatically set by the servers, but maybe we can run the EA offset?

Update 1: Wait a minute. Is the dailyOpenHour for this?

Update 2: It probably is. However we can't get it working. We want to mimic the daily open of Udine, but whatever setting we try we don't get a daily open close to his.

Best regards,

Frietzak
  • #106
  • Jul 23, 2014 9:21am Jul 23, 2014 9:21am
xux99 -

I have a question about this setting:

DailyTargetPips: Maximum allowed total pips profit for a day. After the target is reached no more trades are opened. It refers to all pairs with the same magic number. 0 disables this option.
MaxDailyLosses: Maximum numer of lost trades for a day. After the target is reached no more trades are opened. It refers to all pairs with the same magic number. 0 disables this option.

Dont you think that it would be better to have the MaxDailyLosses also in pips and not in number of lost trades? Maybe there is a reason to this?
  • #107
  • Jul 24, 2014 2:19am Jul 24, 2014 2:19am
Hi Guys,

Any idea why Mithen is stopping out my trades? They never take off, just open and close on the 00 Line.

Thanks

ExcessFX
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Learn from your mistakes until you succeed. It's that simple.
  • #108
  • Jul 24, 2014 2:20am Jul 24, 2014 2:20am
Quoting Juan007
LFN could you put the settings of you demo EA please we can check it and study options thanks in advance
Hi, here is my settings on the demo account.

http://i60.tinypic.com/15qsu1u.jpg
  • #109
  • Jul 24, 2014 10:00am Jul 24, 2014 10:00am
Hi!
You can add an option if the current hour is already closed the order for this pair, the next order will only open in the next hour. Now after closing trades advisor can immediately open another one, do not wait for the next hour.
Thx.
  • #110
  • Jul 24, 2014 10:46am Jul 24, 2014 10:46am
Quoting frietzak
Hi Xux99, Could you add an option in which we can manually adapt the daily open to our own preference. I know that the daily open is automatically set by the servers, but maybe we can run the EA offset? Update 1: Wait a minute. Is the dailyOpenHour for this? Update 2: It probably is. However we can't get it working. We want to mimic the daily open of Udine, but whatever setting we try we don't get a daily open close to his. Best regards, Frietzak
What is the broker and your setting for DailyOpenHour option? Doesn't it calculate the modified daily open correctly? What text is displayed in Daily open comment?
  • #111
  • Jul 24, 2014 10:48am Jul 24, 2014 10:48am
Quoting LFN
xux99 - I have a question about this setting: DailyTargetPips: Maximum allowed total pips profit for a day. After the target is reached no more trades are opened. It refers to all pairs with the same magic number. 0 disables this option. MaxDailyLosses: Maximum numer of lost trades for a day. After the target is reached no more trades are opened. It refers to all pairs with the same magic number. 0 disables this option. Dont you think that it would be better to have the MaxDailyLosses also in pips and not in number of lost trades? Maybe there is...
MaxDailyLosses complies to Udine's rules.
  • #112
  • Jul 24, 2014 10:51am Jul 24, 2014 10:51am
Quoting ExcessFX
Hi Guys, Any idea why Mithen is stopping out my trades? They never take off, just open and close on the 00 Line. Thanks ExcessFX {image} {image} {image}
These are pending orders that were not hit and were cancelled at the next H1 candle.
  • #113
  • Jul 24, 2014 10:53am Jul 24, 2014 10:53am
Quoting Nigor
Hi! You can add an option if the current hour is already closed the order for this pair, the next order will only open in the next hour. Now after closing trades advisor can immediately open another one, do not wait for the next hour. Thx.
What benefit would we have? The EA does not open a new trade only when stop loss is hit during current candle.
  • #114
  • Jul 24, 2014 1:01pm Jul 24, 2014 1:01pm
Quoting xux99
{quote} какая выгода будет у нас? Советник не открывает новые торговать только тогда, когда стоп-лосс-это...
When trading hands, when we closed order in the current hour, to open the following trading we are waiting for the opening of the new H1 candles ..
  • #115
  • Jul 25, 2014 4:02am Jul 25, 2014 4:02am
I think the discretion used in the manual system gives the edge of getting in profit with this system. However the Mitchen EA is better at not making any mistakes of the rules to follow.

"No direction-No trend-No trade" - Mitchen does not understand this. Is it possible to add an additional indicator for this? With the possibility to enable or disable it?

Any suggestions what indicator can help? We need to filter out more trades and only focus on the really high probability trades.

Any of theese indis?

- AveragePriceBarArrows - Indicates: Price Action, Trend, Momentum, Market Strength, and Volatility aligned!
Site with video: www.synergyprotrader.com/index_1022012.html

- LabTrend - TSD forums

- ASC Trend - www.forexfactory.com/showthread.php?t=381999

- Any of Nihilists trend indicators: UltraTrend/TrendFilter/UltraADX www.forexfactory.com/showthread.php?t=490220

- TDI www.forexfactory.com/showthread.php?t=291622


More suggestions? Please tell me if this is a bad idea.
  • #116
  • Jul 25, 2014 4:17am Jul 25, 2014 4:17am
Hi LFN

I agree.

I would vote for Xaphods super trend, which he suggests is better than ASC Trend: http://www.forexfactory.com/showthread.php?t=329399
Or the genesis matrix (which is a combination of TVI, CCI, T3 & Gann high / low)
Both indicators work on any TF.

ExcessFX
Learn from your mistakes until you succeed. It's that simple.
  • #117
  • Jul 25, 2014 4:33am Jul 25, 2014 4:33am
Quoting LFN
I think the discretion used in the manual system gives the edge of getting in profit with this system. However the Mitchen EA is better at not making any mistakes of the rules to follow. "No direction-No trend-No trade" - Mitchen does not understand this. Is it possible to add an additional indicator for this? With the possibility to enable or disable it? Any suggestions what indicator can help? We need to filter out more trades and only focus on the really high probability trades. Any of theese indis? - AveragePriceBarArrows - Indicates: Price...
Hi LFN;

For me it is not a good idea. Ye would add more filters to save some entries, but other good be wasted by the rules.

I think the key is to work hard in money management (stops, profits, ratios etc ....).

The bad entries in any system there must assume

Cheers !
  • #118
  • Jul 25, 2014 4:37am Jul 25, 2014 4:37am
Just to add more:
Mithen already needs to check against daily and hourly candles, so that is defining trend anyway.
Also, be be extra sure, you could set it to trade no closer than say 25 pips away from the daily open line?
The combination of these two thing would help trade with the trend.

ExcessFX
Learn from your mistakes until you succeed. It's that simple.
  • #119
  • Jul 25, 2014 5:20am Jul 25, 2014 5:20am
This is the AveragePriceBarsArrow, when there is movement (Price Action, Trend, Momentum, Market Strength, and Volatility) it signals with arrows.

https://charts.mql5.com/5/298/gbpusd...-prime-pty.png
  • #120
  • Jul 25, 2014 5:22am Jul 25, 2014 5:22am
Quoting chaveznqoos
{quote} Hi LFN; For me it is not a good idea. Ye would add more filters to save some entries, but other good be wasted by the rules. I think the key is to work hard in money management (stops, profits, ratios etc ....). The bad entries in any system there must assume Cheers !
Did you find any money management ideas that gets the win percent better?
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