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New Profit at Pivot Strategy..Anyone know how to encode to EA?..Please comment

  • #41
  • Jul 27, 2006 3:47am Jul 27, 2006 3:47am
Wackena

today was a bad day for my strategy. things was ok in the first opening hours..

i think we need to look into a method where by we can protect our profits by at least 5-10pips if it doesnt retrace to pivot.

3 Losses for today as of 4.30AM NY TIME

Short GU 1.8548 Pivot 1.8496 HIT SL 30 PIPS
Daily Lowest 1.8526 (22 Pips gain early session)
Moving to R1 1.8598

Long UCHF 1.2408 Pivot 1.2452 HIT SL 30 PIPS
Daily Highest 1.2415 (7 Pips gain early session)
Moving to S1 1.2358

Long UJ 116.25 Pivot 116.53 HIT SL 30 PIPS
Daily Highest 116.44 (21 Pips gain early session)
Moving to S1 115.96

EU, AU n UCAD is still floating.

We need to protect the profits in the early session in case it moves back to resistance n support as i showed above.

Any idea guys?
  • #42
  • Jul 27, 2006 5:25am Jul 27, 2006 5:25am
I think your system is not suitable for every night. It depends on the previous day trend, and u should notice to diffrent patterns. For example last night GBPU(M30) had a flag pattern, and continued its raising.
Quoting automan
Wackena

today was a bad day for my strategy. things was ok in the first opening hours..

i think we need to look into a method where by we can protect our profits by at least 5-10pips if it doesnt retrace to pivot.

3 Losses for today as of 4.30AM NY TIME

Short GU 1.8548 Pivot 1.8496 HIT SL 30 PIPS
Daily Lowest 1.8526 (22 Pips gain early session)
Moving to R1 1.8598

Long UCHF 1.2408 Pivot 1.2452 HIT SL 30 PIPS
Daily Highest 1.2415 (7 Pips gain early session)
Moving to S1 1.2358

Long UJ 116.25 Pivot 116.53 HIT SL 30 PIPS
Daily Highest 116.44 (21 Pips gain early session)
Moving to S1 115.96

EU, AU n UCAD is still floating.

We need to protect the profits in the early session in case it moves back to resistance n support as i showed above.

Any idea guys?
  • #43
  • Jul 27, 2006 6:09am Jul 27, 2006 6:09am
hehe, we got one of those once in 60 days crazy runs on just about every pair. great for trend trading bad for pivot bounce
  • #44
  • Jul 27, 2006 6:48am Jul 27, 2006 6:48am
Quoting automan
Wackena

today was a bad day for my strategy. things was ok in the first opening hours..

i think we need to look into a method where by we can protect our profits by at least 5-10pips if it doesnt retrace to pivot.

3 Losses for today as of 4.30AM NY TIME

Short GU 1.8548 Pivot 1.8496 HIT SL 30 PIPS
Daily Lowest 1.8526 (22 Pips gain early session)
Moving to R1 1.8598

Long UCHF 1.2408 Pivot 1.2452 HIT SL 30 PIPS
Daily Highest 1.2415 (7 Pips gain early session)
Moving to S1 1.2358

Long UJ 116.25 Pivot 116.53 HIT SL 30 PIPS
Daily Highest 116.44 (21 Pips gain early session)
Moving to S1 115.96

EU, AU n UCAD is still floating.

We need to protect the profits in the early session in case it moves back to resistance n support as i showed above.

Any idea guys?
automan,

Results from July 26.

I used a TrailingStop = 15. TakeProfit = Pivot (+/- 5 Pips, depending if Buy/Sell), StopLoss = 30, Lots = 0.1

gbp/jpy - loss - 30 Pips
eur/usd - win + 2 Pip
gbp/usd - win + 3 Pips
usd/chf - loss - 30 Pips
eur/jpy - win + 1 Pip

If we could win all everyday that would be the Holy Grail EA. As we know, as of this date, a Holy Grail EA doesn't exist. We need to see what we get over a week or two.

Wackena
  • #45
  • Jul 27, 2006 6:56am Jul 27, 2006 6:56am
Got trashed today. All pairs hit SL.

But the thing is..

AU SHORT 0.7615 Daily lowest 0.7600 (15 Pips gain)

UCAD LONG 1.1350 Daily Highest 1.1366 (16 Pips gain)

EU SHORT 1.2722 Daily Lowest 1.2705 (17 Pips gain)

When we look at all the pairs, onli UCHF gain up to 7 pips today....

So the minimum pips we are looking at is 5 pips for sure..6 pairs 20 pips..

We are looking at least 600 pips in 20 days. If we can get consistency here then i think its good
  • #46
  • Jul 27, 2006 7:02am Jul 27, 2006 7:02am
wackena

isit possible to code the EA in a way that will capture pips in a sequence like 5, 10, 15 n so on?


Means like if hit 5 pips away from open, lock position..then let it run...when it hit another 5 pips then lock position...i hope u understand wat i mean...

wats the minimum value we can set to a trailing stop?
  • #47
  • Jul 27, 2006 7:05am Jul 27, 2006 7:05am
Quoting GP2X
Use this one instead, but I haven't tested it by myself.
GP2X,

I'm not a coder, but a question, please. In you automan EA, you have the following.

Inserted Code
int iMinute=TimeHour(LocalTime());

Should this not be?

Inserted Code
int iMinute=TimeMinute(LocalTime());

Wackena
  • #48
  • Jul 27, 2006 9:32am Jul 27, 2006 9:32am
I have int iHour=TimeHour(LocalTime());
int iMinute=TimeMinute(LocalTime()); here.
I guess Automan posted the EA too early, actually neither of the two versions work. There were couple bugs.
I have sent him another one last night, which was backward tested. If it works for him, he will post it soon.
Sorry I am also a newbie and just started coding from this EA.

Quoting wackena
GP2X,

I'm not a coder, but a question, please. In you automan EA, you have the following.

Inserted Code
int iMinute=TimeHour(LocalTime());

Should this not be?

Inserted Code
int iMinute=TimeMinute(LocalTime());

Wackena
  • #49
  • Jul 27, 2006 11:01am Jul 27, 2006 11:01am
hamid

do u have any suggestion to improve it? maybe can come out wit a Flag Indicator on the graph at that moment so tat we know the trend for the new day....any indicators that will give us warning tat the new day trend might move away from the pivot...
  • #50
  • Jul 27, 2006 11:29am Jul 27, 2006 11:29am
Automan

It is very difficult to recognize the direction, I meaned you shouldn't trust limited rules of your system.

But I think the days with less different between High and Low cause better results by your system. I mean the day that market have not had a big movement.

Quoting automan
hamid

do u have any suggestion to improve it? maybe can come out wit a Flag Indicator on the graph at that moment so tat we know the trend for the new day....any indicators that will give us warning tat the new day trend might move away from the pivot...
  • #51
  • Jul 27, 2006 4:27pm Jul 27, 2006 4:27pm
The Daily Pivot EA opened 5 orders again today. I am trading 7 pairs. eur/usd, gbp/usd, usd/jpy, usd/chf, aud/usd, eur/jpy, gbp/jpy.

July 27 - 17:00 EST

usd/chf - buy at 1.2388, s/l=1.2358 t/p=1.2381
usd/jpy buy at 115.80, s/l=115.50 t/p=116.62
aud/usd sell at 0.7629, s/l=0.7659 t/p=0.7578
eur/usd sell at 1.2700, s/l=1.2730 t/p=1.2660
gbp/usd sell at 1.8574, s/l=1.8604 t/p=1.8487

I will post results when they close.

Wackena.
  • #52
  • Jul 27, 2006 5:08pm Jul 27, 2006 5:08pm
Wackena

How come we have different orders?

Mine is

Sell UCHF 1.2381 TP 1.2367
Sell UCAD 1.1353 TP 1.1343
Buy EU 1.2703 TP 1.2718
Buy GU 1.8579 TP 1.8592
  • #53
  • Jul 27, 2006 6:32pm Jul 27, 2006 6:32pm
Quoting automan
Wackena

How come we have different orders?

Mine is

Sell UCHF 1.2381 TP 1.2367
Sell UCAD 1.1353 TP 1.1343
Buy EU 1.2703 TP 1.2718
Buy GU 1.8579 TP 1.8592
The entry prices are close. The difference is is most likely due to broker response time.

The t/p in my EA is set to Pivot +/- 5 pips. My setup to calculate Pivot may be different to what you are using. I use the following.

Inserted Code
yesterday_close=iclose(NULL,PERIOD_DI,1); 
today_open=iOpen(NULL,PERIOD_D1,0);
yesterday_high=iHigh(NULL,PERIOD_D1,1)
yesterday)low=iLow(NULL,PERIOD_D1,1);

Wackena
  • #54
  • Jul 28, 2006 6:47am Jul 28, 2006 6:47am
Quoting wackena
The Daily Pivot EA opened 5 orders again today. I am trading 7 pairs. eur/usd, gbp/usd, usd/jpy, usd/chf, aud/usd, eur/jpy, gbp/jpy.

July 27 - 17:00 EST

usd/chf - buy at 1.2388, s/l=1.2358 t/p=1.2381
usd/jpy buy at 115.80, s/l=115.50 t/p=116.62
aud/usd sell at 0.7629, s/l=0.7659 t/p=0.7578
eur/usd sell at 1.2700, s/l=1.2730 t/p=1.2660
gbp/usd sell at 1.8574, s/l=1.8604 t/p=1.8487

I will post all results when they close. I have the t/s=0 for July 27 results. Yesterday July 26, t/s=15.

Wackena.
Morning 07:40 EST update July 27 orders.

usd/chf - still open (+20 pips)
usd/jpy - Closed at July 28 03:11 EST (- 30 pips)
aud/usd - still open (+21 pips)
eur/usd - still open (+29 pips)
gbp/usd - closed at July 28 03:10 (-30 pips)

Wackena
  • #55
  • Jul 28, 2006 9:38am Jul 28, 2006 9:38am
Quoting wackena
Morning 07:40 EST update July 27 orders.

usd/chf - still open (+20 pips)
usd/jpy - Closed at July 28 03:11 EST (- 30 pips)
aud/usd - still open (+21 pips)
eur/usd - still open (+29 pips)
gbp/usd - closed at July 28 03:10 (-30 pips)

Wackena
There was a bounce at 08:30 EST and it went in the wrong direction. The 3 orders that were still open has now closed with loss.

Wackena
  • #56
  • Jul 28, 2006 11:16am Jul 28, 2006 11:16am
I'm new to forex..just over a month and I am trying to get a better understanding of using pivot points in making good trades.

I just need some clarification in regards to this strategy and pivot point in general and how to use them.

When we compare the 'close' price againt the 'pivot' price, are we comparing the close price at any time in the next trading day (i.e the last close price of the 'current' candle stick in current day) or are we ALWAYS comparing the close price for the last candlestick at EOD previous day (i.e the original close price we used as part of the formula to calculate the new pivot point price for the next day) with the pivot price.

I'm getting a little confused about this and making some trading errors due to the same.

Thanks.
  • #57
  • Jul 28, 2006 11:34am Jul 28, 2006 11:34am
Quoting forexfan_2006
I'm new to forex..just over a month and I am trying to get a better understanding of using pivot points in making good trades.

I just need some clarification in regards to this strategy and pivot point in general and how to use them.

When we compare the 'close' price againt the 'pivot' price, are we comparing the close price at any time in the next trading day (i.e the last close price of the 'current' candle stick in current day) or are we ALWAYS comparing the close price for the last candlestick at EOD previous day (i.e the original close price we used as part of the formula to calculate the new pivot point price for the next day) with the pivot price.

I'm getting a little confused about this and making some trading errors due to the same.

Thanks.
Hi FF2006
We take the High + Low + Close of the last day's trading range add them up and divide by three. I sent you a PM with a link to an indicator for MT4.
I also have a small program which I can post that does this for you after you've entered the above figures
Pete
  • #58
  • Jul 28, 2006 7:45pm Jul 28, 2006 7:45pm
I have this indicator from strategy builder forum....it calculate your pivot automatically..Thanks to JTrader.
Attached File(s)
File Type: mq4 JT_SDX-TzPivots[1].mq4   22 KB | 490 downloads
  • #59
  • Jul 30, 2006 2:25pm Jul 30, 2006 2:25pm
Quoting automan
Wackena

How come we have different orders?

Mine is

Sell UCHF 1.2381 TP 1.2367
Sell UCAD 1.1353 TP 1.1343
Buy EU 1.2703 TP 1.2718
Buy GU 1.8579 TP 1.8592
Target all hit. But without SL. I am testing the system without SL.
  • #60
  • Jul 30, 2006 5:03pm Jul 30, 2006 5:03pm
Quoting automan
Target all hit. But without SL. I am testing the system without SL.
Did you mean StopLoss (SL) or Trailing Stop (TS)?

I have this EA on a InterBankFX Demo. They do not start trading until 18:00 EST. This means This EA will on place orders Monday thru Friday, but not on Sunday.

Wackena
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