Wow. Thanks Joshua.
Between me and you, someone is a winner. The EUR looks to do something. You think (chart wise) it’s going up, and I think it’s going down. I didn’t make a trade yet, I’m waiting. Especially now seeing what you think.
Hey, maybe the EUR can go up on the US and down on the CAD at the same time.
Krugman, is this EA based on price action? What are the signals this EA is looking for in the market to trade?
Just checking in and asking about you guys, I’ve been taken for the past couple of days so no trading for me so far and lagged a bit on the thread.
Cheers
Been wondering about you. Hope your ok.
Hang in there!
I can somewhat agree with that but in the majority of the trades it does take a while for price to reverse. Also the terms fast, swift and rapidly are a bit ambiguous. I would need to know what that looks like in terms of time. My slow may be Sam Seiden’s fast, I’m not sure. I find the amount of time it takes for the reversal is hugely dependent upon the timeframe of the signal. An hourly candle may only take a few hours to reverse, a daily candle may take a few days. Once thing I do know is that many times when the reversal does happen, it is quite powerful.
To be honest I am not sure of the exact calculation, MT4 does it internally.
I’ve been programming casually for over 10 years and professionally for almost 3, most of it on C based languages. MQL4 is a C like language, so I was able to learn the language and write my first indicator in 1 day. Now that I have written a few EAs, I can write one up from scratch in an hour or two. MQL4 is really basic when it comes to languages, so even someone without much programming knowledge could learn it and write a program in a few weeks.
The data quality is not as big of a deal when writing EAs that do higher timeframe trades. Most EAs are scalping, so poor data, slippage, and spreads can eat up all of profits that a person was getting during back testing. The take profit on my EA is 140 pips, and the SL is half that, so it is much more forgiving on poor quality data. Overall the effects I think will be negligible.
No, it uses various indicators to take it’s trades.
I think most EAs don’t work because they scalp, which scalpers are tremendously deceiving on back tests. I need to get some more historical data, but I did put my EA on the EURAUD with the same settings as the EURUSD and it produced similar results. I would like to get it back tested on as large a time frame as possible and as many pairs as possible to make sure it has long term sustainability.
Good to see you here Eternal, I hope all is well. I look forward to see you back in here regularly!
Krugman, we begin to clutter your PA thread with all this talk about EA and programming stuffs. I suggest we all stop it here, and continue it in the more appropriate thread that Krugman has opened himself just earlier:
Mainstreet to Millionaire EA
There I will also share you guys the reference I used to read when I write my own EA.
I want to confess that I once designed an EA myself, but I no longer did it after focusing entirely on PA. I must warn you though that my EA really sucked back then. There are reasons why I kept blowing up my account till dozen of times. Maybe I can learn another practical thing or two about EA from Krugman, as I know he is also a professional software engineer. 
[QUOTE=“wm247;560958”] Krugman, we begin to clutter your PA thread with all this talk about EA and programming stuffs. I suggest we all stop it here, and continue it in the more appropriate thread that Krugman has opened himself just earlier: Mainstreet to Millionaire EA There I will also share you guys the reference I used to read when I write my own EA. I want to confess that I once designed an EA myself, but I no longer did it after focusing entirely on PA. I must warn you though that my EA really sucked back then. There are reasons why I kept blowing up my account till dozen of times. Maybe I can learn another practical thing or two about EA from Krugman, as I know he is also a professional software engineer. ;)[/QUOTE]
Thanks Willy, I can’t tell because I am on my phone but is that the link the the new thread for the EA? People are obviously interested in EAs and their potential, so as Willy suggested please make any future questions/comments over the the EAs thread. Well I need to get back to work, I will be on a little later.
Be blessed!
Yes, to your newest thread at ‘Expert Advisors and Automated Trading’ sub-forum:
Mainstreet to Millionaire EA
And bless you too, Brother.
I have a question that I hope someone can give me some insight to.
Just started trading on a live account this week. Had a setup I really liked and placed my entry, SL, TP orders. I even entered on retracement to increase my RR. So I just checked my trade, and I was stopped out. Yet, price has not protruded past the SL i thought I had. I had placed my SL (I thought) just above the pinbar I was playing. Price got to within about 2-3pips of that and then turned back in my direction. Yet I am stopped out. The details of the trade on my account show that my SL was about 3 pips below what I thought I had set it at. I even have written down where my SL was going to be and I’m pretty sure that is what I typed in.
So does this have to do with spread? Or did I somehow type in the wrong SL? This cost me a trade unfortunately. I would like to learn exactly what is going on (if anything) before making another trade.
Hi Jpw,
It most certainly is due to your spread on that pair. Are you trading on FXCMs trade station? If so you can choose between “bid” and “ask” price and you’ll see the difference in price. When placing stops you have two choices.
- Manually add or subtract your spread to your TP and SL.
or
- Use the “bid” and “ask” price if available in your trading platform when placing the SL and TP to see the “actual” price and then calculate the SL/TP by using the different prices.
The situation you mention has happened to me awful many times before i realized what was going on and then also every time when i forgot to add/subtract the spread.
Good luck! I hope my answer was helpful.
[QUOTE=“Diablo1505;561059”] Hi Jpw, It most certainly is due to your spread on that pair. Are you trading on FXCMs trade station? If so you can choose between “bid” and “ask” price and you’ll see the difference in price. When placing stops you have two choices. 1. Manually add or subtract your spread to your TP and SL. or 2. Use the “bid” and “ask” price if available in your trading platform when placing the SL and TP to see the “actual” price and then calculate the SL/TP by using the different prices. The situation you mention has happened to me awful many times before i realized what was going on and then also every time when i forgot to add/subtract the spread. Good luck! I hope my answer was helpful.[/QUOTE]
Thanks for the response. So to make sure i have it correct
If i enter at 1.0000 and have a SL at 9900 and the spread is 3 pips. I have to make the SL .9897
Is that correct?
Hey every one, another newbie to FX but I’m in stocks for a few years, a little bit option to but not often. Maybe same LEAPS here and there. I like LT time frame better. I’m trying focus more on weekly bars for stocks, and daily for FX
I have question about this rule (saw it also on Jhonathon msg board) for pin bar that I quoted it above. Why pin body has to be within previous candlestick body? Just curious why, since if it wouldn’t be, you would get sort of island reversal pattern that is rarer and more strong reversal case than normal pin bar. So, with isolated pin bar body you would actually get stronger PA, right? Well at least that’s how it is with stocks.
I wrote too long intro msg on Jhonathon tread, and no one saw this question so I’m being shorter here 
[QUOTE=“jpw0100;561094”] Thanks for the response. So to make sure i have it correct If i enter at 1.0000 and have a SL at 9900 and the spread is 3 pips. I have to make the SL .9897 Is that correct?[/QUOTE]
Yes, that is correct.
Ah, yes, this!
I though here you have the same rule for pin bars as Jhonathon.
Good, I never understood that rule nor I got explanation why after asking about it.
Krugman wrote “one of these days I will show you one” (sorry I deleted the rest of quote)
You know why he said this. Because they are not that common, they are less frequent.
But they are announcing possibility of even stronger reversal case as far as I know.
What actually are proxi pin bars? Never heard this term before. It is FX term?
An island reversal is different than a pin bar that fails to close within the previous bar. I do trade pin bars that don’t close within the previous candle, only if they qualify as a proxy pin bar. In an island reversal the gaps are giving a certain price story of the market. Those setups pretty much never happen in Forex.
A pin bar closing within the previous candle is a stronger signal, if it doesn’t close within the previous bar that tells us the market did not have enough strength to pull price back within the previous candles range, which is a hint of potential weakness in the reversal. I will someday get to proxy pinbars, but that is out there in the list of riskier price action patterns, I want to thoroughly cover the most common and highest probable setups, to lay the foundation for the weaker and more difficult to trade PA setups.