Naked Chart - Discreationary

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.

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

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

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

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

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.

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!!! :smiley:

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.

I made some majaor revision to the EA and I am reposting the latest version.

Specification:
EA Name : Traders Delight
Pairs to trade: 14 curr GU, GJ, UJ, AJ, EJ , EU, UCHF, UCAD, EurChf,
GChf, EG, CADJ, AU, NU (exclusive)
Trade Time: All times
Extern Var: lot set @ 0.1, SL set @ 300, TP set @ 60
Time Frame: 1 hour (strictly)
Indicators Reqd: Normal Indicators (that comes with the MT4Platform)
Minimum Equity : $3000.00
EA Status: Trial Issue
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.

Guide to trader New to Mt4. This is not an indicator this is an Expert Advisor.

  1. unzip & copy EAfile in your mt4 folder /expert
  2. open the 14 cypairs charts - 1 hour TF
  3. Drag the TDelightEA to all 14 charts opened.
  4. Remember the drawdown is around $500 in 0.1 lot trading, avoid margin call.
  5. Close manually on Friday b4 trading close or you may also leave it open till the next week trading.

One more question about this EA… My computer reboots itself periodically while I’m sleeping. If I wake up in the morning and notice this and start everything back up, will this EA know what to do with the trades that were open prior to the shutdown, or will they just continue till they it the SL/TP?

hi - i’m trying to load this onto the NF demo account i have (it uses MT4). It seems to fall down at the part where you say to drag the EA onto the chart window? Any ideas where i’m going wrong??

thanks

You can either drag or double click on the EA when you have a chart window open. When you do so, a box should come up showing the current settings for the EA. I’d leave them as they are except for the first tab (Common Tab) where you want to select “Allow Live Trading” on the bottom left. Click OK. It will show the EA applied to the chart on the top right corner of the chart. If there’s anything but a smiley face next to it, click the “Expert Advisors” button on the top middle of the screen. This should make the smiley appear and will mean the EA is ready to start making you some money. Open up all 14 pairs listed and do that to all of them. I personally have 19 running to see how it turns out. This EA made $250 dollars last night with 0.1 lots (1 mini lot).

You have to reset your computer control panel … automatic update to anthing except automatic. If this happend at night while your are sleeping soemthing bad could happend to your trade. Because your EA is disabled and could not protect your trade. The EA should be running all the time that the market is open unless you really stop the EA. Yes the EA knows where it stops. and will resume from there. Total pips gathered since Sunday (nonstop) is 600+ pips already.

300 pip SL, ouch :eek:

Do I have to use it on demo only? I wld like to try to trade micro lots see how it does. thanks, john

Opps … no live yet … Try on demo first. you might blame me if you loss your short …LOL… Be comfortable first. That EA will not run on live account.

Pipscorer,

Thanks for all of your hard work. Why wont this EA work on a live account? Also, what is the foundation based on? Can you give the community an idea of what techniques you employ for technicals and fundamentals to make your EA work?

Thanks!

Thanks for your interest in the EA. First the EA is disable to run on live account. I want the user to test run first and be comfortable with it. There is not much diffrence in the data feed of demo and live especailly with IBF. The EA was design on support and resistance include with price action and the unknown theory of “Basket Trading” . Simply explain that all currencies in the world are co- related meaning the dip of some will cause the rise of others. This theory takes care of the fundamental aspect of the market. It is also my belief that with basket trading as i have been doing for a long time now that the 13 currency i selected to trade compliment and suppliment each other. If one is in trouble the others are rescuing the troubled currency. In trading world it is known as hedging. Our job is just to take advantage of the dip and rise but since we cannot determine when is the rise or dip to happend, we trade the currency in basket. I hope i have stimulate your interest in this theory. I have discuss this theory in my thread in some forum which i dont think i can mentioned it here.