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My EA Gift to Traders

  • #741
  • Mar 3, 2015 2:12pm Mar 3, 2015 2:12pm
Quoting Dave_C
{quote} The pending orders are always under the control of MT4 even if you reboot your system and TradersGift is always monitoring any active trades with a matching Magic Number even if your system is rebooted. The number of active and pending orders together with profit/loss, is always shown in the terminal window, trade tab, anyway and are easily identified if you have enabled the display of the comments column. (make sure you give the particular EA a meaningful comment in the inputs).
to be sure, the same Magic Number but different pair is not problem for EA?
  • #742
  • Edited 3:28pm Mar 3, 2015 3:03pm | Edited 3:28pm
Quoting micello
{quote} to be sure, the same Magic Number but different pair is not problem for EA?
It certainly is a problem. You must have a different Magic Number for each chart. Most important !!!

Quote from help file -
MAGICMA - Use a different number for each chart - You can open identical charts for different uses of the EA but a different number is needed for each chart.
  • #743
  • Mar 3, 2015 3:38pm Mar 3, 2015 3:38pm
Quoting Dave_C
{quote} It certainly is a problem. You must have a different Magic Number for each chart. Most important !!! Quote from help file - MAGICMA - Use a different number for each chart - You can open identical charts for different uses of the EA but a different number is needed for each chart.
oww, I'm surprised because it looks like EA manage correct on the different pairs and the same magic
but to be sure will change it after closing orders (to avoid some random results)

thanks
  • #744
  • Mar 3, 2015 3:42pm Mar 3, 2015 3:42pm
Quoting micello
{quote} oww, I'm surprised because it looks like EA manage correct on the different pairs and the same magic but to be sure will change it after closing orders (to avoid some random results) thanks
The only way that would be valid was if each trade was being run from a different MT4 account.
  • #745
  • Mar 4, 2015 1:19am Mar 4, 2015 1:19am
There was a problem with the Trading Concept - CloseTrades EA at End of Day and the server did not accept the deletion of the Dummy Trade at 00:00:00. I can only assume that the rollovers were being processed at that time so I have amended the deletion time to a more general time of 00:00 to see if that will fix the problem. The result is that I have had to restart the EA.
  • #746
  • Mar 4, 2015 1:39am Mar 4, 2015 1:39am
Hello Dave.

Thank you very much for a wonderful job you have done.

Is there any chance you can add to it:

1) Bollinger Bands

2) Like you have made it 3 rsi 's we can use, can you also add to it, 3 Stochastics, and 3 MacD's as well, ( Like you have done with the rsi's ) this really helps when we want to look at multiple time frames before executing trades.

3) Option to set lots size off Balance as well, not just Equity or Stop loss

Regards

Walter Lea
  • #747
  • Mar 4, 2015 5:39am Mar 4, 2015 5:39am
Quoting WalterLea
Hello Dave. Thank you very much for a wonderful job you have done. Is there any chance you can add to it: 1) Bollinger Bands 2) Like you have made it 3 rsi 's we can use, can you also add to it, 3 Stochastics, and 3 MacD's as well, ( Like you have done with the rsi's ) this really helps when we want to look at multiple time frames before executing trades. 3) Option to set lots size off Balance as well, not just Equity or Stop loss Regards Walter Lea
Not at this stage Walter. There are enough options to work with presently. Please refer to Posts #'s 685 to 689.
  • #748
  • Mar 5, 2015 12:29am Mar 5, 2015 12:29am
Quoting Dave_C
There was a problem with the Trading Concept - CloseTrades EA at End of Day and the server did not accept the deletion of the Dummy Trade at 00:00:00. I can only assume that the rollovers were being processed at that time so I have amended the deletion time to a more general time of 00:00 to see if that will fix the problem. The result is that I have had to restart the EA.
Problem seems to have been corrected.

Results this week -

Mon - breakeven
Tue - plus $100 (Reset EA back to $10,000 after CloseTrades error)
Wed - minus $100
Thu - minus $100

I'm going to leave +- $100 tomorrow and next week I'll try +- $150, following week +- $200, week after that run continually with no CloseTrades EA.

Enclosed updated CloseTradesEA
Attached File(s)
File Type: ex4 CloseTrades.ex4   6 KB | 186 downloads
File Type: mq4 CloseTrades.mq4   2 KB | 201 downloads
  • #749
  • Mar 5, 2015 2:07am Mar 5, 2015 2:07am
Having addressed the triple RSI and receiving another request for additional triples in conjunction with some other stuff, I can fulfil these requests but I'm needing some further input from you, to give me guidance. These requests are not difficult to code, but, how many inputs do you want to wade through?

I am very aware that many of you including the people who take the time to send personal messages or emails to me have very defined thoughts. Up until now, I have resisted any further ideas, radical changes mostly, but tell me what you think about adding extra inputs such as Post #746 above.
  • #750
  • Mar 5, 2015 3:23am Mar 5, 2015 3:23am
Quoting Dave_C
Having addressed the triple RSI and receiving another request for additional triples in conjunction with some other stuff, I can fulfil these requests but I'm needing some further input from you, to give me guidance. These requests are not difficult to code, but, how many inputs do you want to wade through? I am very aware that many of you including the people who take the time to send personal messages or emails to me have very defined thoughts. Up until now, I have resisted any further ideas, radical changes mostly, but tell me what you think...
Dave ,

In my poor opinion it is USELESS . Really think of it for a sec RSI , Stochastic , Macd what is the difference between them ? NONE , (only the formula) , but i am quite sure that if you try them on a specific time of period they will produce 90% - 95% same entries approximately .

The only thing that should be considered in my opinion is price , so it better to work with Price Action then any kind of oscillators .

My recommendion would be better to work out better the Support / Resistance , Phychological levels (round numbers) , Momentun (via bar size) . This stuff would be more useful on a Technical level , Because fundamental is far away from automation.

Look my opinion is based purely only on my experience . I have spent too many years straggeling with many kinds of indicators but you can obviously see where i got , they are just showing the HISTORY what price already have done and try to predict what will happen next.

You really don't need any kind of indicator to tell you that , when on your chart a pair has done 100 pip move it will definetely retrace at LEAST about 15% percent of move that . WHY ? Because some people will close in profit. So simple . You (not specially you) don't need Triple MACD or whatever to show you that you are in the overbought zone.
We all know that if you try to short every overbought and buy every oversold where will be your account balance in a month ?
But if you try to buy oversold zones in an uptrend , you will see the results are totally different.
And now add to this some Price Action and Fundamental basic analysis. I am totally sure for the outcome.

Trading is not rocket science you don't need 10 indicators to tell you what price was doing you just can see it .

If people are interested in this thread to work around Price Action then YES it is worth , if not just bypass it.

Alex
  • #751
  • Mar 5, 2015 2:15pm Mar 5, 2015 2:15pm
Quoting Dave_C
Having addressed the triple RSI and receiving another request for additional triples in conjunction with some other stuff, I can fulfil these requests but I'm needing some further input from you, to give me guidance. These requests are not difficult to code, but, how many inputs do you want to wade through? I am very aware that many of you including the people who take the time to send personal messages or emails to me have very defined thoughts. Up until now, I have resisted any further ideas, radical changes mostly, but tell me what you think...
Dave,

What makes this EA special for me is its scope and flexibility. I know of no other EA that comes anywhere close to Traders Gift on these key measures. For me, the EA only becomes more useful when you add more functions. I think some people arguing that you should keep it simple may be reacting to the growing list of inputs. But if users would spend the time to understand the inputs, they would no longer be intimidated by them. Just ignore the ones you don't use. Plus, it's simple to type "//" in front of any input parameters within the code to remove them from view in the .set file. Why not customize your own input parameters instead of lobbying to deprive others of functions they may find useful? Others have argued for simplicity based on their "opinion" of how to trade. As in, don't add such and such a filter because I tested it before and it didn't work for me. I believe people who say these things are trying to be helpful, but I don't think they are in the long run. Every trader has to learn for themselves what works and what doesn't. So in principle, I would encourage you to keep adding more functions, especially if they are easy for you to code.

That's my 2 cents.

Kind regards,
drofwarc
  • #752
  • Edited 5:25pm Mar 5, 2015 3:12pm | Edited 5:25pm
Quoting drofwarc
{quote} Dave, What makes this EA special for me is its scope and flexibility. I know of no other EA that comes anywhere close to Traders Gift on these key measures. For me, the EA only becomes more useful when you add more functions. I think some people arguing that you should keep it simple may be reacting to the growing list of inputs. But if users would spend the time to understand the inputs, they would no longer be intimidated by them. Just ignore the ones you don't use. Plus, it's simple to type "//" in front of any input parameters within...
I have just had replies from 2 very active members who have added their intellect to this thread many times previously and for which I am very grateful.

One thing that does surprise me is that often when there is a request made, we never hear from the poster again. It's almost like if you don't do this work for me, I'm not interested in contributing, quite the opposite to Alex and Patrick who both contribute unselfishly.

My own opinion is that Fundamentals give the macro direction of currency pairs but Technicals provide guidance on the short term market. Depends what you are looking for in the market. Alex is quite right in saying we should be paying more attention to support and resistance. The point is that indicators can highlight this more readily on the shorter term charts. Probably the most famous of all EA's was FAP Turbo, one of the earliest EA's which simply capitalised on support and resistance on short term charts when the market was directionless particularly after NY close and before Asian open. When you look at the tools and EA's available even freely through forums, you realise that even though the gurus say that EA's are worthless, it is still a burgeoning industry. There are many EA's on price action alone. I started this thread after realising that there simply is no single answer and that mostly our losses arise from psychological factors, myself included.

An arsenal of weapons is better than no weapons. Global conflicts are fought on both fronts so we use the EA to control our emotions and use whatever weapons we have available. The combination of weapons is what this EA is all about. The trading concept is about a basket of weapons and small steps. The individual weapons are being traded continually in the Trade Explorers my profile page, the concept is the 2nd Trade Explorer the at top of each thread page. Also at the top is the 1 hr RSI and I have previously expressed on this thread, a preference for RSI as it has personally served me well over the last 20 years. Another favourite of mine is the Straddle placed in conjunction with major news releases. I don't always use it necessarily before the releases, sometimes it use it after the whipsawing in the couple of minutes after the release particularly with releases like the US Non Farm Payroll where I'll generally set it for 10 minutes after the release.

Anyway the purpose of the post is to support Alex and Patrick in the hope we can start an educated debate on how to tackle the markets using the tools available to us.
  • #753
  • Mar 6, 2015 12:11am Mar 6, 2015 12:11am
TradersGift Trading Concept plus $100 today. Result for week, break even. Next week plus/minus $150.

Plus/minus $100 appears to be too small as results achieved during Asian sessions (except Monday).

See Post #748 for further details. Post #339 and Post #696 for concept.
  • #754
  • Mar 6, 2015 12:40am Mar 6, 2015 12:40am
Hi Dave,

I'd like to propose adding volume as a filter. As you know, there are some very large threads here at FF discussing volume spread analysis, or VSA. For the uninitiated, there's a lot to learn, but the basic idea is that changes in volume can help a trader determine whether or not a bar will have follow through.

Some people dismiss spot forex volume because it is based on ticks, not actual volume, and represents only your broker's trades, not the market as a whole. However, VSA traders claim tick data supplied by the larger brokers is a reliable proxy for real volume.

My wish would be the ability to filter trades based on whether volume is rising or falling relative to the previous bars.

For example (where V=volume):

If C>C1 and V>V1, Buy at open of next bar

Over to you, Dave. What are you thoughts on adding a volume filter?

drofwarc
  • #755
  • Mar 6, 2015 1:03am Mar 6, 2015 1:03am
Quoting drofwarc
Hi Dave, I'd like to propose adding volume as a filter. As you know, there are some very large threads here at FF discussing volume spread analysis, or VSA. For the uninitiated, there's a lot to learn, but the basic idea is that changes in volume can help a trader determine whether or not a bar will have follow through. Some people dismiss spot forex volume because it is based on ticks, not actual volume, and represents only your broker's trades, not the market as a whole. However, VSA traders claim tick data supplied by the larger brokers is a...
Try this. Input at bottom.
Attached File(s)
File Type: ex4 TradersGift_Volume.ex4   149 KB | 221 downloads
File Type: mq4 TradersGift_Volume.mq4   101 KB | 234 downloads
  • #756
  • Mar 6, 2015 1:29am Mar 6, 2015 1:29am
Dave ,

I think also adding support and resistance from a higher time frame as soon as we want to trade smaller time frames as a filter and it generates quite accurate entries. This stategy follows my fellow i generally avoid small time frames.

Dave i have one question , if we remove from the code the MagicNumber and turn all the filters and stategies off will the EA make only the Money Managment , it would be graeat if it could be that flexible.

Last that i can find difficult is the last parameter that you have added Stoploss decrease it seems to me like adjustable trailing is that correct or i am missing something ?

I really appreciate you work and efforts , and in my previous post my intention was only , you not getting in work that it does not seems so worth. But i repeat it is my opinion and definetly Patrick is right , every trader has it is own style and trading plans but i think we should filter what to adopt since we are more experienced and not to fall again in a cycle for searching for the Holy Grail and add unlimited indicators.

Alex
  • #757
  • Mar 6, 2015 1:58am Mar 6, 2015 1:58am
Quoting alex8585
Dave , I think also adding support and resistance from a higher time frame as soon as we want to trade smaller time frames as a filter and it generates quite accurate entries. This stategy follows my fellow i generally avoid small time frames. Dave i have one question , if we remove from the code the MagicNumber and turn all the filters and stategies off will the EA make only the Money Managment , it would be graeat if it could be that flexible. Last that i can find difficult is the last parameter that you have added Stoploss decrease it seems to...
The time frame for support and resistance could be incorporated.

As far as making the EA monitor money management rules for all trades, we have an all or nothing scenario. A stop loss could trail, a wager could increase, a set stop loss to break even could operate but these items could only operate on all open trades within an account and it could open up other problems. I really think there are plenty of trade management EA's out there already.

StopLossPercentage is the percentage value that the StopLoss decreases every time there is a 5% increase in equity in the trade.
  • #758
  • Mar 6, 2015 2:09am Mar 6, 2015 2:09am
Quoting Dave_C
{quote} The time frame for support and resistance could be incorporated. As far as making the EA monitor money management rules for all trades, we have an all or nothing scenario. A stop loss could trail, a wager could increase, a set stop loss to break even could operate but these items could only operate on all open trades within an account and it could open up other problems. I really think there are plenty of trade management EA's out there already. StopLossPercentage is the percentage value that the StopLoss decreases every time there is a...
Please don't misunderstood my question , it was just a simple query that i had , nothing more.

According to StopLossPercentage i have read the help file , but still don't get the point it can be used with combination of trailing stop or it is a substitute of the trailing stop.
  • #759
  • Mar 6, 2015 2:14am Mar 6, 2015 2:14am
Quoting drofwarc
{quote} Dave, What makes this EA special for me is its scope and flexibility. I know of no other EA that comes anywhere close to Traders Gift on these key measures. For me, the EA only becomes more useful when you add more functions. I think some people arguing that you should keep it simple may be reacting to the growing list of inputs. But if users would spend the time to understand the inputs, they would no longer be intimidated by them. Just ignore the ones you don't use. Plus, it's simple to type "//" in front of any input parameters within...

Thanks for your input.

Its not for price action, its for aggressive reversal scalping and works on 3 time frames.

Us trader are not all the same, and all see things differently.

Just to make it more diversable to all our trading styles helps and its not a big job just to add it in....

May the pips be with you all and the forex gods forgiving.
  • #760
  • Mar 6, 2015 2:22am Mar 6, 2015 2:22am
Quoting alex8585
{quote} Please don't misunderstood my question , it was just a simple query that i had , nothing more. According to StopLossPercentage i have read the help file , but still don't get the point it can be used with combination of trailing stop or it is a substitute of the trailing stop.
Look at it as a trailing and reducing stop.
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