Channel Trading: Viking1961 500 step system

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564

Increasing slip is probably not the way to go as many brokers apparently will take advantage of that. Increasing the check as vmrdc suggests sounds much better to me.

Re
D

565

yes, im all for increasing the check… this was just not something that i could easily fix myself… and thats why i made a temporary fix… i just want to avoid double trades on my live account until we find/implement a permanent fix…
so it was either increase slip, or trade manually :slight_smile:

566

Search the code for “slip” you’ll see where it’s used for the test, then just change (Spread+SlipPoint) to (Spread+3Slip*Point). Now you check a larger area.

Re
D

567

thanx, will change that ASAP… good thing that we have such bright minds in this thread :slight_smile:

568

I do OK with arithmetic :wink:

Re
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569

Hi guys,

There is this EA here which does very close to what we are looking for. With a slight difference: it doesn’t open orders in both directions every time, but only in one direction, the direction of the “trend”.
However the logic is very similar. I do not have the EA, but maybe someone will and we could improve CC’s EA in this way.
Anyway, just a though…

Edit: primers are not part of this EA.

570

CC’s EA works pretty well with the normal trading, so dont really know what you think that we could improve with the help of that EA??
another thing is, that when you buy an EA, you will be lucky if you get an uncompiled version where you can look into the code :slight_smile:

571

Guys,
Below my suggestion to the EA for involving manual primers:

  1. I will use a variable “UseNormalTrades” - when this is set to true the EA will place normal trades.
    If you set to false no orders will be placed.
  2. I will use a variable “UsePrimers” - when set to true the EA will place primer orders based on the below
    parameters:
    ChannelTop = Primers will be placed above this value at user defined steps and lot sizes.
    ChannelBottom: Primers will be placed above this value at user defined steps and lot sizes.

So, when you decide that you want primers - you will have to set values to variables of ChannelTop/ChannelBottom/PrimerLots/PrimerStep/PrimerTp etc and also to set UsePrimer to true and the EA will place primers. If you want to disable normaltrades at this time, just set UseNormaltrades to false or if you wish to continue with normal trades then leave it at true.

  1. I can include functions such as:
    A. Write on the chart: No of Sells/ Buys/ Drawdown etc
    B. Send daily emails with data.

Let me know what you think of the above.

Regards
CC

572

[QUOTE=“crisscross1983;492646”]Guys,
Below my suggestion to the EA for involving manual primers:

  1. I will use a variable “UseNormalTrades” - when this is set to true the EA will place normal trades.
    If you set to false no orders will be placed.
  2. I will use a variable “UsePrimers” - when set to true the EA will place primer orders based on the below
    parameters:
    ChannelTop = Primers will be placed above this value at user defined steps and lot sizes.
    ChannelBottom: Primers will be placed above this value at user defined steps and lot sizes.

So, when you decide that you want primers - you will have to set values to variables of ChannelTop/ChannelBottom/PrimerLots/PrimerStep/PrimerTp etc and also to set UsePrimer to true and the EA will place primers. If you want to disable normaltrades at this time, just set UseNormaltrades to false or if you wish to continue with normal trades then leave it at true.

  1. I can include functions such as:
    A. Write on the chart: No of Sells/ Buys/ Drawdown etc
    B. Send daily emails with data.

Let me know what you think of the above.

Regards
CC[/QUOTE]

Sounds Nice, and maybe an push & mail message when we hit the 40% left, so that we know that its time for primers?

Have you also seen what Vmrdc wrote about more checks?

573

Will include both.
Will replace the variable slip with a user defined variable Check.

574

but we still need the slip variable right?
or would you just set it static to 30? (im thinking about that some brokers use 4 digits, and some 5, so some would need to change it)

575

Slip will also be there but will be relevant only for opening orders.

Check will be used by the EA to determine existing positions.
:slight_smile:

576

[QUOTE=“crisscross1983;492744”]

Slip will also be there but will be relevant only for opening orders.

Check will be used by the EA to determine existing positions.
:-)[/QUOTE]

Perfect, just wanted to Be sure that i understood you correct :slight_smile:

577

Could you also implement this daily email notification with current equity, open sells, open buys, how many pips away from the channel borders, how many trades closed in profit that day.
Sorry if this sounds like more work…
I appreciate your work and I am happy to see the thread alive :60:

578

Hi ya Zepp, just read a post of yours on etoro’s OB about your own channel on MT4. Mind you if I ask a few questions about that?

  1. Which broker are you using?
  2. Which pair are you running the channel?
  3. Fixed or floating spreads? spread size?
  4. Any swap commissions ?
  5. What tp level are you using for the normal trades, I mean 50, 30, 40 etc pips/tp between trades?
  6. And the same question as above but for primers, How many pips between primers and what’s the TP and SL for these?
  7. What about margin call and stop out levels?

Currently I’m running a demo channel on Liteforex, GBPUSD with 3 pip fixed spread, and sticking to the greenland beginer’s guide, Buy/sell trades every 50 pips, Still no need for primers, the problem I see on this demo account is swap on the sell trades, costing me something like 2 cents every day per sell trade. BTW, started this demo with 3000 but I’m managing it as if I had only 2000.

Thanks! and hope you can answer those questions for me,
Safe Trading!

579

Hi,
most of theese questions is already answered in earlier posts, but i will sum it up…

  1. Which broker are you using? [B]Xemarkets[/B]
  2. Which pair are you running the channel? [B]GBP/USD[/B]
  3. Fixed or floating spreads? spread size? [B]i have floating spreads, but would love fixed for my next channel[/B]
  4. Any swap commissions ? [B]yes[/B]
  5. What tp level are you using for the normal trades, I mean 50, 30, 40 etc pips/tp between trades? [B]im using 30 pip[/B]
  6. And the same question as above but for primers, How many pips between primers and what’s the TP and SL for these? [B]i have not used primers yet, but that will depend on the situation, and i dont use SL[/B]
  7. What about margin call and stop out levels? [B]i have stop out at 20%, but will look for a broker with a lower % for my next channel[/B]

im running with a Little over 3000$ to cover the same range as with 50 pip TP and 2000$…
i have 3 cent swap per micro lot, but that is not a big problem, if we said that i had 33 trades open (that would cover a 990 pip range for me) that would cost me 6,93$ a week, or 27,72$ in a month… so far this month i have made 168,33$ and we have a week left of this month, so i guess i will hit 200$… so even with the swap, its a big profit for me % wise…

580

Will add these data and post the new EA by tomorrow.

Regards
CC

581

How much important of order flow senario for the channel trading?

582

Thanks a lot Zepp for taking the time to answer all those questions.

The fact that you use 30 pip TP instead of 50 is for making the channel a little “faster”?

583

[QUOTE=“rascuache1;493343”]

Thanks a lot Zepp for taking the time to answer all those questions.

The fact that you use 30 pip TP instead of 50 is for making the channel a little “faster”?[/QUOTE]

There is greater change that i Will hit some TP on The slow moving days, but at The same time i need to earn more money before I can increase my lot size, because i have more open trades to cover The same amount of pips :slight_smile: