Naked Chart - Discreationary

[Pipscorer]

Based on price action and support and resistance only. I have develop an EA that has been consistently making 500-600 pips a week. i attached the EA here for everyone to demo and please tell me what do you think. Remember no indicator required.

Specification:
Pairs to trade: 14 curr GU, GJ, UJ, AJ, EJ , EU, UCHF, UCAD, EC,
GC, EG, CJ, AU, NU (exclusive)
Trade Time: All times
Extern Var: lot set @ 0.1, SL set @ 300, TP set @ 100
Time Frame: 1 hour (strictly)
Indicators Reqd: Normal Indicators (that comes with the MT4Platform)
Minimum Equity : $3000.00
EA Status: Backtest complete, Forward test in progress
Close Trade On Friday: Manually b4 close or leave it open.
Expection : 500-600 pips per week
Notes: Please do not change the SL and TP. Keep it open even during Newstime.

[Pipscorer]

It is important that the EA must be used on all 14 curr mentioned for trading, because of EA's hedging property.

[Pipscorer]

EA Results for the Week of 4-13 to 18, 2008
Total Trade Made : 82
Net Total Pips Made: 1,280
Start Balance :$3,000.00
Net Profit : $1,095.99
% increase : 36.54%
Please find attached Trade Statement

[scottyPIPin]

This is looking promising I'm going to set it to start paper trading my account this sunday and we'll see how it all works out.

[Grob]

hi there - thanks for posting your indicator. Could you give a quick 'idiots guide' to how it should be set up on metatrader

[Yarcofin]

Pipscorer,

I've followed your instructions, but on my navigation window, your EAs show up grey/ghosted over. Is this just because they have no indicators? When I apply them to a chart, they show up with the little smiley so I THINK they're working. I can't open it with MetaEditor to see the code though.

Also another dumb question while I'm at it....
My copy of MT4 only has 10 currency pairs available (I'm using InterbankFX as my brokerif that matters.) Where are the other 4 pairs at? And will it work okay with 4 missing?
It's GJ, AJ, CADJ, and GCHF I'm missing

[Pipscorer]

Originally Posted by Yarcofin

Pipscorer,

I've followed your instructions, but on my navigation window, your EAs show up grey/ghosted over. Is this just because they have no indicators? When I apply them to a chart, they show up with the little smiley so I THINK they're working. I can't open it with MetaEditor to see the code though.

Also another dumb question while I'm at it....
My copy of MT4 only has 10 currency pairs available (I'm using InterbankFX as my brokerif that matters.) Where are the other 4 pairs at? And will it work okay with 4 missing?
It's GJ, AJ, CADJ, and GCHF I'm missing

It is a an executable file so you cannot open the code. I am doing that to avoid people changing and distributing my code. I should work anyway. Interbank have all the 14 curr since i am using the interbank as well if you look at my attached statement it was an interbank fx. If you have the market watch window ..right clik and clik the "show all" and you will have these 4 curr you mentioned.

[Yarcofin]

Thanks, I just wanted to make sure it was going to work right and I didn't screw something up . I don't blame you for not wanting people to steal your code.

And WOW, I just clicked the market watch window and now I can see 19 pairs... haha. When I select the "forexall" I get the 14 pairs you mentioned though. I'm going to start trading this EA tomorrow. Thanks!!!

[scottyPIPin]

That brings up a question I have... is the EA effective on the additional 5 pairs, or is it really only designed for the 14?

[Pipscorer]

Originally Posted by scottyPIPin

That brings up a question I have... is the EA effective on the additional 5 pairs, or is it really only designed for the 14?

As long as the spread doesnt exceed 15, the more the better but consider the drawdown. Drawdown is $500 in 0.1 lot trading with 14 pairs prorate the additional pairs then consider in your equity.