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  • #161
  • Jun 9, 2015 2:03pm Jun 9, 2015 2:03pm
Quoting mindyyost
actually, the example I used above IS one where Iwould be using this strategy - if you want to compare it to your charting.
Just a thought, it may help if you posted an annotated chart, showing an actual trade setup, etc.
  • #162
  • Jun 9, 2015 3:11pm Jun 9, 2015 3:11pm
MehZhure,

The thing is, this EA would be for people who know how to identify tops and bottoms of moves by utilizing their own charting strategies. If I give you my chart settings, then maybe I will be giving you a strategy that is not nearly as good as your own. But more than that, if I ever decide to enhance this EA so that it would run off of my parameters for picking tops and bottoms by itself (and thus becoming a totally automated EA), then I would not want to give it away - instead I will be putting it out there in a way whereby I and the programmer who does the work can be compensated. But, thank you for taking an interest. It's nice to know that people will be watching to see what develops here.
  • #163
  • Jun 9, 2015 3:26pm Jun 9, 2015 3:26pm
Mindy,

I'm writing the specs and there is a problem with the following statements:

the EA will need commands to "use Limit orders only", "use Stop orders only", or "use both Limit and Stop orders


and

Once the EA picks up the first Limit order, THEN the EA could place create 5 SELL STOP orders


So limit orders become mandatory for the stop orders to be triggered right ?


Simplicity is the Ultimate Sophistication.
  • #164
  • Jun 9, 2015 3:43pm Jun 9, 2015 3:43pm
First issue - "the EA will need commands to "use limit orders only", "use stop orders only", or "use both Limit and Stop orders"

The reason I put this in is because there may be times when a person would ONLY want the Limit orders (above or below the price action) to initiate. This could be true if they knew that they wanted to sell above a price point or buy below a price point - but didn't want to chance picking up the additional trades from the Stop orders.

Likewise - but opposite - maybe they wanted to start doing sells above a price point but didn't expect the price to go any higher so, wouldn't want to bother with the Limit order aspect and would want to get in while the opportunity seemed present.

In either of these situations, the EA would not make the order placement dependent on the either side of the order envelop.

But, going on to your 2nd issue - YES - when the EA is set to "both Limit and Stop orders", and it picks up the first Limit Order - ONLY THEN would it add the Stop orders. What you are actually hoping for at this point is that the price move WILL go farther a little bit so that you can pick up as many of the Limit orders as possible and move those Stop orders up higher as well... but it is also true that when this is the case, you may find yourself with a pocket full of ugly trades for a while - but nobody ever said that trading was for woosies.

There could be situations where the price action hits the Target - but never moves farther enough from the target to initiate the first Limit order. In these situations I have found that you are usually best off to not get involved in the trade because volatility is not very strong at the time anyway.
  • #165
  • Jun 9, 2015 3:44pm Jun 9, 2015 3:44pm
This is just a quick follow-up on the issue I was having with passing a string to a dll.

I had an idea occur to me from reading the code you had suggested, broketrader. To keep the explanation short, I ended up using a char[] to store my string. It takes a few extra steps to deal with the string to char[] and back to string conversion, but nothing too elaborate, and it does exactly what I was originally trying to do.
  • #166
  • Jun 9, 2015 3:53pm Jun 9, 2015 3:53pm
Quoting mindyyost
First issue - "the EA will need commands to "use limit orders only", "use stop orders only", or "use both Limit and Stop orders" The reason I put this in is because there may be times when a person would ONLY want the Limit orders (above or below the price action) to initiate. This could be true if they knew that they wanted to sell above a price point or buy below a price point - but didn't want to chance picking up the additional trades from the Stop orders. Likewise - but opposite - maybe they wanted to start doing sells above a price point but...
Sorry I didn't explained it well.

My only issue is with the statement "Use stop orders only" as we cannot because they need a limit order to be triggered as you said in the second statement.

Or in other words, how can we use stop orders if there are no limit orders to trigger them ?

Edit: Or in other words, how can we use stop orders only if there are no limit orders to trigger them ?
Simplicity is the Ultimate Sophistication.
  • #167
  • Jun 9, 2015 3:57pm Jun 9, 2015 3:57pm
Quoting MehZhure
This is just a quick follow-up on the issue I was having with passing a string to a dll. I had an idea occur to me from reading the code you had suggested, broketrader. To keep the explanation short, I ended up using a char[] to store my string. It takes a few extra steps to deal with the string to char[] and back to string conversion, but nothing too elaborate, and it does exactly what I was originally trying to do.
Glad you found a solution.
Simplicity is the Ultimate Sophistication.
  • #168
  • Jun 9, 2015 3:59pm Jun 9, 2015 3:59pm
If "use Stop Orders only" is selected, then the EA would just place the Stop Limit orders beginning 5 pips below the Target - so the EA at that point is kind of like running a independent function from the EA in it's entirety.
  • #169
  • Jun 9, 2015 4:02pm Jun 9, 2015 4:02pm
But - you know - if that is an issue - just forget about the choices aspect of using only Limits or only Stops. In the bigger picture the important thing will be using the combo of both. I was just trying to make it more multi-functional.
  • #170
  • Jun 9, 2015 4:07pm Jun 9, 2015 4:07pm
Quoting mindyyost
If "use Stop Orders only" is selected, then the EA would just place the Stop Limit orders beginning 5 pips below the Target - so the EA at that point is kind of like running a independent function from the EA in it's entirety.
Ok, so I will add this to the specs as it was missing from your original statement.
Simplicity is the Ultimate Sophistication.
  • #171
  • Jun 9, 2015 4:09pm Jun 9, 2015 4:09pm
Oh, I'm sorry. I guess I forget that you can't read my mind... my mistake.
  • #172
  • Jun 9, 2015 4:10pm Jun 9, 2015 4:10pm
Quoting mindyyost
But - you know - if that is an issue - just forget about the choices aspect of using only Limits or only Stops. In the bigger picture the important thing will be using the combo of both. I was just trying to make it more multi-functional.
Not an issue now that we have defined things. It's normal discussion during definition phase.
Simplicity is the Ultimate Sophistication.
  • #173
  • Jun 9, 2015 4:12pm Jun 9, 2015 4:12pm
Quoting mindyyost
Oh, I'm sorry. I guess I forget that you can't read my mind... my mistake.
I don't have that power... yet
As I don't have the power to work well if I don't sleep enough, so for me its time to go, it 11pm here in Euro(pe).
Simplicity is the Ultimate Sophistication.
  • #174
  • Jun 9, 2015 4:15pm Jun 9, 2015 4:15pm
sweet dreams. I will check back in tomorrow.
  • #175
  • Jun 9, 2015 5:57pm Jun 9, 2015 5:57pm
One more thing that I failed to mention....

In the situation where the trader sets the EA to make "SELL" trades & sets it for "Stop orders only" - and let's say that the Target is 1.4750 - so those orders go in at 1.4745, 40, 35, 30, & 25. If the price continues moving up, the EA should move all of the Stop orders up as well - in a fashion that would move them up in 10 pip increments, for every 10 pips ABOVE the Target that the price moved. Again - in this situation, it could work out that the price might pick up one or several of the orders - then move higher again - even to the point where the EA would be moving the orders up before going down again. This could cause a situation where you have duplicate or multiple orders being filled at the same price point - but that's ok.
  • #176
  • Jun 10, 2015 5:48am Jun 10, 2015 5:48am
Quoting mindyyost
One more thing that I failed to mention.... In the situation where the trader sets the EA to make "SELL" trades & sets it for "Stop orders only" - and let's say that the Target is 1.4750 - so those orders go in at 1.4745, 40, 35, 30, & 25. If the price continues moving up, the EA should move all of the Stop orders up as well - in a fashion that would move them up in 10 pip increments, for every 10 pips ABOVE the Target that the price moved. Again - in this situation, it could work out that the price might pick up one or several of the orders - then...
no problem, understood.

I'm specifying (listing) your requirements in a doc for future reference, I will post the file this afternoon when its ready...
Simplicity is the Ultimate Sophistication.
  • #177
  • Edited 6:28am Jun 10, 2015 5:57am | Edited 6:28am
I hope you had a good sleep last night - I had a nightmare... I missed getting in the trade in the EUS/AUD that I outlined to you yesterday by less than 2 pips! When the price moved up and hit my target (1.4760) I placed the Sell Limit orders. I had the 1st Sell Stop order in an order box ready to enter. Two or three times the price moved above 1.4765 - but I wanted the 1st Limit order to initiate before I placed the Sell Stop... and it never got high enough to initiate the Limit order... Aaarrrgggg! The ask price got above 1.4770, but the bid price didn't! So far that has cost me over 200 pips TIMES 6 trades! Oh well, that's how it goes sometimes.
  • #178
  • Jun 10, 2015 6:04am Jun 10, 2015 6:04am
But, anyway, that was a situation where - if I had the EA - I might have just opened the EA real quick and changed the setting to "use Stop orders only" and that would have popped those Sell Stops in real quick. Trading manually I probably would have only been able to get maybe 2 in before the price dropped below where they all should have been placed.
  • #179
  • Jun 10, 2015 11:45am Jun 10, 2015 11:45am
Hi Mindy,

Here is the extracted list of requirements, please read what is in the table and compare to your initial statements so we are sure I have understood it all. Take the time, there is no hurry as I will start to draw the flowchart and it will take some time.

Attached File(s)
File Type: pdf MindyEAReqs.pdf   79 KB | 593 downloads
Simplicity is the Ultimate Sophistication.
  • #180
  • Jun 10, 2015 11:56am Jun 10, 2015 11:56am
ok - thank you for this...
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