pipcompounder answered the questions before me:) nice explanation
[I]pipcompounder[/I]
I have been tested similar settings as yours, I put BE to 15pips and lockpips to 5pips. I was testing it on demo account. I can confirm that the results was better than put the BE and SL so close. I am going to test it forward.
Also if [I]crisscross[/I] can implement this option what I wrote above to put the new pendings X pip from the newSL after BE hit would be much profitable as well.I have done visual and manual testing and it had very good results. Hope it is possible to implement by crisscross:)
no, thatās 425 net pips, if you were using 0.01 lot size. You may try changing some things to see the difference, for instance try the BE at 20 pips, and lockinpips at 10 pips, to see what happens there. Also, you have to decide on trade size, so 425 pips is only $42.53 at 0.01 lots, but 0.1 lots would have been $425.30. I donāt like backtesting very far back, as it affects the quality of the test, see what it looks like with backtesting since september 1st, to see if the same percentage average of wins is sameā¦you have 80% win rate, very good. You get more pips with 60% win rate because there is more pips gained in an average winā¦your high win rate is because the BE gets hit a lot.
What you said can be implemented. I have to think a bit about the logic as to what to do with the RefPipHigh/Low variable as it may interfere. Will think over it.
thanks for the answer. good that it can be implement I have tested manually by script for 3 days and after 2-3 try(increased by 3pips the new pending orders, after BE moved SL hit) normally I catched the big price jump.
I think in this case we can swith off the RefPipHigh/Low variable just use Distbuy/sell at the first time if we wanna increase the ref candle and after BE the moved SL is hit, new pendings will be straight away e.g. 3pips from this SL donāt need to wait til price goes back to the ref candle.
thanks for your great EA mate!!
Thank you for your great explanation, really made good sense to me ! and to Crisscross for adding this great new additions to the EA and for the EA it self.
I donāt have any way of posting pictures since this isnāt my computer Iām using at this time of dayā¦the only thing I forgot to mention about my settings is I have the slip set at 10 pipsā¦100 is the value for me. Other than that, I have no idea why your graph is so much different than mine. Makes me think the backtesting results are not realistic for any of us.
I would be curious to see if your graph looks different using a start date of may 1st, 2012 to presentā¦that is what I used.
This may be something to think about on the back burnerā¦what about a theory of having a BE SL that is somewhat positive, say 3-5 pips, and when it is hit, pending orders placed 3-5 pips away, immedietly, with same other settings as before. And when that BE+5 is hit, pending orders placed 5 pips away again, stairstepping?
I was also thinking about money management and was wondering if totalRiskPerLondonOpen variable can be set that will affect the lotsize. If itās set to 2% for example each trade will risk 2%/6. What do you guys think? I know itās not an important feature for small accounts where the lotsize is usually 0.01, but it can provide better control for larger accounts.
Iāve been following this thread with great interest over the past few weeks. You guys have done a great job so far. I remembered a London breakout system that used the hour before the open of the London session as a reference candle. I backtested manually for Aug, Sept and Oct to date and found that it gave a better profit. Please, could someone backtest this with the EA.
yes it working very nice so far for me. I am tsting it manually, today good profit as well with 3pips steps after a while you will catch the big price jump.
Hope crisscross can implement it somehow into the EA he said it is possible.
Just read and what i understand is almost moving in little steps to minimise loss. I would like to bring an example just so i can understand what you mean.
Say the price is at Eur/USD 1.3000 and we have pending orders set to to buy stop 1.3000
Price goes up to 1.3005 so the stop loss moves to 1.3005?
Immediately Ea places pending order to buy stop 1.3010.
So in effect we locked in 5pips and are waiting for price to move to 1.3010? and the whole process repeats again?
Thank you for reply. That should technically keep loses relatively small, question would be if this will prevent us catching big moves or if market is truly ranging then market will keep on taking us out all the time and loss will outweigh winningsā¦?
Have you tested this theory in practise? As it sounds like it might actually do the trick of keeping the loss to minimum.
My trades today started with Buy SL hit for full loss, then Sell went all the way to 60 TP, making my account about BE for the week so far.
Mostwantedpip~ in your example, I would still have the price move more than 5 pips to place the BE SL, so maybe have it move from entry at 1.3000 to 1.3010, then SL moved to 1.3005ā¦then if that SL is hit, have pending orders immedietly placed at 1.3010, with the same level of settings as before.
Everybody, has daylight savings hit London yet? I think I may be using different reference candle depending on my serverās time, which I donāt know when their daylight savings time is, either (serverās location).
You are right the BUY trades hit a full SL first but the trailing stop hit for the 2nd and 3rd sell trade at around 7 pips.
Are you using Trailing stops or not?
