is there an option to automatically execute trades given the signal from James program
I think adding support and resistance lines would help you place put stops and take profits. They could also help you with entries and exits.
As James states: he doesn’t use them but if it suits you then fine.
Hey guys. As far as i can tell James is recommending this for the 30 min chart only on EUR/USD, is this correct? I do not have time to day trade so i am curious if any are using on bigger time frames like 4h or 1d?
Hi there
Cant believe people are copy my systems what flatery
james
It gets worse…Oh, but they (not babypips members) copy, sell them and claim it is their system.
Hey daraknor, when you read this post can you update us on the progress with the EA for this system? I am interested if you are still going with it or not. I can pay for it and make it available for download if your still making one or maybe we can all donate something or whatever the cost.
Either way let us know.
Update:
I have been testing this trading system out longer term in that I mean with open orders over several days until the market generates enough profit for me then I close it off manually or just use a TP but rather not use TP because some brokers see that and move against you right?
I still think the way I have been testing it is nearer to how an EA would trade it with less human interaction it kinda simulates an EA to some degree as far as I see, even if an EA was made for this system human closure of orders may be a good thing to do during the day time when you get time to check out trades. I just don’t personally trust EA’s with money management that is the main reason, if they were to trade fixed lots then I have a bit more confidence with them though. Lets say if it trades micro lots for first ten trades on a demo or live account then the EA will work its way up to larger lot sizes as the balance grows but then it makes a few running losses of up to like 3 each of undr 500USD - 1000USD worth. This soon eats the balance up and that is why I don’t trust money management of any EA out there when I can rely on my own manual trading that won’t allow such losses, so using a TP and/or SL for me is not so good for these reasons unless you want an EA that just scalps and makes small pips each trade. Then it could be perfect with minimal losses.
I have worked a similar system out myself with a little inspiration of this system but using several different indicators which all work together. Still needs more testing and if I am happy I will get an EA made for it. I think it will perform better manual trading though as with all trading seems to, only we can’t all be glued to our screens all day and night long can we. The difference it works on your favourite currency pair and I recommend using EURUSD but TF will work on M1, M5 and above. Still needs more testing but profits are fast with this system so less staring at the screen for long periods.
With James’s system I find I can make around 200USD a day with one or two trades even if they are open for two to four days at a time. In that sense then it works better than an EA might do with this trading system but I can’t tell unless one is developed and tested, on the other hand it may be the same due to the trading style of allowing every other trade to span a few days. Maybe someone with more experience can help on here with a little insight.
Instead of a 1000USD a month a 1000USD a week is possible with this system I am confident in that, give it a try and see what you think.
Margin call is not a huge risk either because having two orders open at any one time and no more is unlikely to cause that, depending on lot sizes as well. So far not traded more than 2 lot sizes with this system.
Seems like a EA is long over due for this system. Is anyone working on one, or has one been made yet? Thanks 
Hi James, Regarding entry, when the time comes are you looking to get in at a certain price, say the opening price of the signal? or just getting in with a market order?
–Also, Are you still trading this system regularly? Thanks
PS- When your trading day is over and you have a open trade do you close it out? How do you handle that? Thanks
EA development appears to have been abandoned, for more info I expect James to provide us on this matter.
I see you have similar questions as me with the entry and exit, I’ve been leaving open trades for days at a time. I don’t think this trading system intended this style of trading to be done, in my opinion.
Hello James,
I’m new to babypips and this is my first post to you. It looks like you have 2 systems you use. One is the euro/usd 45 pips per day and the other is the one you just mentioned - 40-100 pips per day.
Perhaps I am not navigating properly, but can you explain to me where I go to get the criteria for these 2 systems? I would like to try them. Thanks,
Dan
Hi dantom. I think James is busy or not on here at the moment. Anyway, if you read through the whole thread of each system James has shared with us you wil learn mostly everything you need to about them. Including how to setup your platform to trade the system. A lot of members have already asked and been asnwered questions.
Hi dantom
read this thread & it will give you an idea of the 40-100 pips/day post.
Thread deleted**
For the 45pips just start at the beginning of this thread.
:wishes:
I’m new here and would be very interested in your GBP/YEN system. Can you point me to that info? Thanks.
No long term testing has been done on other currency pairs other than EURUSD as far as we are aware. Would also be interested if anyone has tested others.
What about these two pairs on markets with no trends though?
Thanks for the file. I downloaded it and put it on my MT4 platform and then activated it on the 30 min euro/usd chart. I also have the standard MACD on.
The red and blue arrows are appearing many times more often than the MACD crosses. Aren’t we supposed to get an arrow only when we have a MACD cross AND a new (or within 3 dots) SAR dot?
Also, how does one get the MACD to have 2 lines in it which cross at the MACD crosses?
Thanks for your help.
Thanks Jim for this simple summary. One question, how do I get my MT4 MACD to show the 2 lines that cross? Thanks.
Not sure you can.However the lines cross at the same point the histogram crosses zero
Dantom,
use this indicator. Just unzip the contents to the folder that MT4 is installed in/experts/indicators.
Close and restart MT4, then add custom indicator… should be in there.
-Benjimang
MACD 2 lines[1].mq4.zip (969 Bytes)