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Straddle trading EA

  • #1,441
  • Mar 10, 2015 5:18am Mar 10, 2015 5:18am
Quoting quiet
alan when the ea stops modifying, the "add spread to sl" stops also? e.g. sl 10 pips+ spread, and than the spread grows to 15 pips - the order will close?
Yes the orders aren't modified at all during that time.

So if the spread spikes the orders can be stopped out.

Alan
  • #1,442
  • Mar 10, 2015 7:53am Mar 10, 2015 7:53am
Quoting Alan111S
{quote} Yes the orders aren't modified at all during that time. So if the spread spikes the orders can be stopped out. Alan
I dont mean the order modifying, just the stoploss modifying. I want it to go grow if the spread grows (even after the "secBNO")
  • #1,443
  • Mar 10, 2015 8:28am Mar 10, 2015 8:28am
Quoting quiet
{quote} I dont mean the order modifying, just the stoploss modifying. I want it to go grow if the spread grows (even after the "secBNO")
OK to do that would mean setting up another modify routine making 2 in total - one that works as before to change both Pending Order Level and SL and one that just changes the SL seperately. Instead of not modifying anything after SecBMO, the SL could continue to be modified on any unfilled Pending Orders depending on the spread.

This is quite a big change which would require a bit of checking. Also, I'm supposed to have started on another project so I don't know when I'll be able to look at it.
  • #1,444
  • Mar 10, 2015 2:18pm Mar 10, 2015 2:18pm
Hi, ive been looking for a straddle EA and found the amazing EA 1.1.8 but can not get it to work. The face in the top right is a sad face.

And ive tried both the broker mt4 time and my timezone GMT. please help. what am I doing wrong? Thanks
  • #1,445
  • Mar 10, 2015 2:43pm Mar 10, 2015 2:43pm
Just following from above, I have got the amazing EA posted by Alan111S in to work thanks to the instructions in the file. So many thanks.
  • #1,446
  • Mar 11, 2015 6:22am Mar 11, 2015 6:22am
Quoting Alan111S
{quote} OK to do that would mean setting up another modify routine making 2 in total - one that works as before to change both Pending Order Level and SL and one that just changes the SL seperately. Instead of not modifying anything after SecBMO, the SL could continue to be modified on any unfilled Pending Orders depending on the spread. This is quite a big change which would require a bit of checking. Also, I'm supposed to have started on another project so I don't know when I'll be able to look at it.
thank you
may we have a clue about the other project?
  • #1,447
  • Mar 12, 2015 10:59am Mar 12, 2015 10:59am
Does anyone here trade on mt5, and with ActivTrades in particular? Have you compared the execution speed on demo vs live?
  • #1,448
  • Mar 13, 2015 5:32am Mar 13, 2015 5:32am
Ok, people, I need your help I fail to find a broker since Alpari UK's went broke. I tried Activ Trades but for some reason their execution speed is too slow on the live account (500ms-6seconds even on 0.01 lot during good liquidity?!?!) . Maybe it's a problem on my side. They're still investigating it. Never had problems with Alpari UK.

Do you have any ideas of a good broker for our news trading strategy? It must be instant execution (with max deviation) and must be never more than 200ms.
And what do you think about the new fixed spreads account by fxpro?
  • #1,449
  • Mar 13, 2015 6:30am Mar 13, 2015 6:30am
Quoting Pupsik
Ok, people, I need your help I fail to find a broker since Alpari UK's went broke. I tried Activ Trades but for some reason their execution speed is too slow on the live account (500ms-6seconds even on 0.01 lot during good liquidity?!?!) . Maybe it's a problem on my side. They're still investigating it. Never had problems with Alpari UK. Do you have any ideas of a good broker for our news trading strategy? It must be instant execution (with max deviation) and must be never more than 200ms. And what do you think about the new fixed spreads account...
the execution speed isn't relevant here, Amazing EA uses pending orders, they are sent to the server then executed when the price is met.
there shouldn't be any lags.
i lose money for a living
  • #1,450
  • Mar 13, 2015 6:40am Mar 13, 2015 6:40am
Quoting tylerbose
{quote} the execution speed isn't relevant here, Amazing EA uses pending orders, they are sent to the server then executed when the price is met. there shouldn't be any lags.
I don't think I understand... but if the execution takes longer then we get slippage. Orders are sent but the broker still must execute them, isn't it?

p.s. Besides, I'm also using FNG some times
  • #1,451
  • Mar 13, 2015 7:29am Mar 13, 2015 7:29am
Can anyone share the set files or input details that they use in high impact news?
  • #1,452
  • Mar 13, 2015 8:06am Mar 13, 2015 8:06am
A new safety function has been added to delete any pending orders when the EA is removed from the chart. However, if you disable the EA, and you have pending orders already placed, the EA will no longer adjust the straddle, with the consequence that your pending orders may go live before news time. The safest way to disable the EA is to remove it from the chart. Another quick way is to disable EAs and change the time-frame. When setting up, one should always save the settings used in a .set file - this makes it easier to setup again on the same or another broker.
==========================================

Alan

Let's say I use FNG to set an auto-click to change time-frame for low deviations, and before the release, one of the stop orders go live, does the EA cancel the live order as well (which is what I'd love to happen), or it only cancels the stop order & leaves the live order.

If the latter is the case, can the EA be modified to cancel the live order as well

cheers

Another issue is if I'm to trade say more than a pair for a news e.g. UC & CJ for a cad news, will the trade closure as a result of time-frame change on a pair be able to close trades of other pairs
  • #1,453
  • Mar 13, 2015 9:47am Mar 13, 2015 9:47am
Quoting Pupsik
{quote} I don't think I understand... but if the execution takes longer then we get slippage. Orders are sent but the broker still must execute them, isn't it? p.s. Besides, I'm also using FNG some times
slippage on pending orders should be minimal to inexistent compared to regular orders (FNG).

if you get slippage while using FNG it means that your Internet is too slow or your broker is crap or both.
if you get large slippage while using pending orders (Amazing EA) it means that your broker is shit and you should find another one.

anything over 5 pip slip on pending order is unacceptable imo.
i lose money for a living
  • #1,454
  • Mar 14, 2015 3:30pm Mar 14, 2015 3:30pm
Quoting tylerbose
{quote} slippage on pending orders should be minimal to inexistent compared to regular orders (FNG). if you get slippage while using FNG it means that your Internet is too slow or your broker is crap or both. if you get large slippage while using pending orders (Amazing EA) it means that your broker is shit and you should find another one. anything over 5 pip slip on pending order is unacceptable imo.
could you please explain more? First you said that i should expect more slippage in regular orders compared to pending but then you said that I shouldn't expect slippage with regular orders if the broker is good and the connection is fast
  • #1,455
  • Mar 15, 2015 9:08pm Mar 15, 2015 9:08pm
Quoting quiet
{quote} thank you may we have a clue about the other project?
OK first I can't really talk about my other project Not for a while anyway !

I've thought about modifying the AmazingEA code to change the SL to cope with spread spikes. The problem with it is that where do you draw the line? What if the spread spikes 60 pips. Your 20 pip SL (and your Risk) has now quadrupled.....

If the Trading Platforms (MT4/MT5 and others) allowed you to dynamically alter the Lotsize of Pending Orders, then it would be straight forward. Increases in Spread would reduce your Lotsize and keep Risk at a constant amount.

So now the only way to reduce your risk is to cancel the Pending Order and open a new one with smaller Lots, which takes too much time (2-5 seconds maybe, depending on how busy the broker is)

That's why I came up with MaxSpread. It cancels the Pending Orders very quickly if the Spread exceeds a certain value. And with Money Management switched on (MM=true or 1) then the MaxSpread is factored into your Risk.

But there are still Spread issues once your trade is Live - for example, on fast moves many brokers have a wide spread then as soon as news hits their spread narrows sometimes to 0 or negative (deliberately so pending orders aren't activated) and then they go really wide again, because Price has gapped in the direction of the news. It then takes 30 seconds or so for the other price to follow as the Spread narrows.

On long slow moves, brokers spike the spread every 20 seconds or so to kill orders with tight Trailing Stops.

So what I am trying to say is that adding another Modify routine to alter the SL after the Orders stop modifying would fix one problem but create another. Therefore I'm not going to change it. In fact I have been looking at ways to simplify the Amazing code rather than complicate it further.

The best option is to trade with less risk, bigger SL and be prepared for big spreads.

I used to recommend AxiTrader because they had a spread cap of 6 pips, even during News Time. Well, they scrapped that as it was costing them too much. The only other broker I knew doing that was Alpari UK.....and they have gone now.
  • #1,456
  • Mar 15, 2015 9:36pm Mar 15, 2015 9:36pm
Quoting tylerbose
{quote} the execution speed isn't relevant here, Amazing EA uses pending orders, they are sent to the server then executed when the price is met. there shouldn't be any lags.
Sorry mate but execution speed is relevant with Pending Orders as the following has to take place:-

1) Price hits Pending Order level
2) Pending Order is converted to Market Order
3) Market Order is executed as if you hit the Buy or Sell Button

Steps 2 and 3 can both be subject to Execution Delays.

Alan
  • #1,457
  • Mar 16, 2015 9:40am Mar 16, 2015 9:40am
Quoting Alan111S
{quote} Sorry mate but execution speed is relevant with Pending Orders as the following has to take place:- 1) Price hits Pending Order level 2) Pending Order is converted to Market Order 3) Market Order is executed as if you hit the Buy or Sell Button Steps 2 and 3 can both be subject to Execution Delays. Alan

pending orders are sent to the server they'll be executed from the sever. whether or not MT4 is running.
as for market order you need to add whatever latency (ping time) you have between your MT4 and the server.

depending on your ISP and the latency you have with your broker's server, the difference can be pretty huge during high volatility times where every 10ms could be worth 10s or more pip
i lose money for a living
  • #1,458
  • Mar 17, 2015 6:39pm Mar 17, 2015 6:39pm
What do u guys think about Amazing & FNG coming together to bring about something similar to straddle trader pro. A nice feature may include one setting low deviations for which FNG communicates with Amazing & gets all orders (live & pending) deleted, & any other nice features that could be added. I believe it's a possible project if Peter O. of FNG & Alan can reach an understanding

Cheers
  • #1,459
  • Mar 17, 2015 7:23pm Mar 17, 2015 7:23pm
Quoting wakeel86
What do u guys think about Amazing & FNG coming together to bring about something similar to straddle trader pro. A nice feature may include one setting low deviations for which FNG communicates with Amazing & gets all orders (live & pending) deleted, & any other nice features that could be added. I believe it's a possible project if Peter O. of FNG & Alan can reach an understanding Cheers
You can do this already. If you configure FNG to press a different timeframe on the chart (on a low deviation), AmazingEA will delete the Stop Orders. It won't have enough time to setup new orders by the time the News Second passes.

Only thing is it doesn't kill Live Orders, but again you could use FNG to press another 'button' somewhere to do that.

Alan
  • #1,460
  • Mar 18, 2015 1:18am Mar 18, 2015 1:18am
Quoting Alan111S
{quote} You can do this already. If you configure FNG to press a different timeframe on the chart (on a low deviation), AmazingEA will delete the Stop Orders. It won't have enough time to setup new orders by the time the News Second passes. Only thing is it doesn't kill Live Orders, but again you could use FNG to press another 'button' somewhere to do that. Alan

Yeah I kinda improvised for that. I don't use the timeframe change since it doesn't kill live orders (kinda essential so I don't get tempted to remain in the trade and be exposed to fast reversals after news spike)

What I do is, I have a script you once made for me that closes all orders (live and stop orders), so I setup the low deviations on FNG so as to click on the script 3 times and all orders get closed irrespective of pair.

I use a 3-time click because I noticed if you set FNG to click twice (to improvise for a double click, sometimes it only clicks once and nothing happens since the script needs a double click). So I do set it 3 times so I can get at least 2 clicks. (Tested numerous times on some random news releases and works perfectly well)
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