Hi Pipcompounder,
I am new this thread.I read the whole conversion of all participates.I am pleased with this system though i have not tested yet it.However about your entry level of buy or sell stop you previously note it was 3 pips above and same price level at the ref candle low price for sell stop but now is it really changed?1. Entry at same as before, 3 pips above, 1 pip below.
2. Refcandlepips true, and 5 pips above, and 3 pips below.
Which i will be followed?
Please reply.
Regards.
Safe trading!!
Just a reminder that British Summer Time ended this morning and London is now on Greenwich Mean Time. (They fall back an hour).
Most places in North America donāt switch back to standard time until next week, meaning that the London session will start 1 hour later than usual for this upcoming week only.
Yes, my settings have changed to what I posted, we are still trying to make the best of this strategy, so I recommend you demo, maybe try your own changes to see what happens.
Yes, london open will appear an hour later on the charts for those in the US, using servers in the US, just for this week, then the US daylight savings time comes into effect next Sunday, making all as it was before.
Hi guy,
Thanks a lot.Yes i will use this on demo and will be participating here some find interesting for further discuss and upgrading this system.
Regards
Ariful Mamun
yesterday and today I had good profit used the 7am candle as reference and used āSL move systemā manually.
crisscross1983
could you find out what was the problem in the backtest with the new modified EA? When you gonna finish it I am going to run an optimalization with 99% tick datas and hope gonna find the best settings.
thanks for your hard work in advance.
Hi Killerno,
The SL move system is good i think of this system since some problem with new EA and mates of ours some confused it!
Crisscross1983 maybe helping us I think and i am also interested it .
Safe trading.
I have been too busy this week and could not spend time on the EA at all. Also could not monitor the current EAās performance.
I will work on it and release it by this weekend for sure. Apologize for the delay.
no problem mate, take your time. You are doing everything in your freetime so big THANKS for it.
Today I had a little problem with the EA, it did not set up TP and SL again, normally it is workong fine I don`t know what happened today. Apart from this is working fine.
I gonna run a proper optimalization on it when you gonna release the version.
Today good profit again with manual trading, used the 7am candle as reference.
Apparently the charts use USA time as far as the daylight savings time gap for this week. If I had moved my reference candle back an hour, it would have saved me some losses, one of which is todayās buy, but the sell is opened and the Euro is tanking, hopefully it keep going down, because this week isnāt pretty.
crisscross, no hurry, and thank you so much for your volunteering.
Is there some way on the next version of the EA to be able to have the option of having just 1 or 2 trades, instead of three open at once? In other words, have an on\off switch, so I can test with 1 and 2 open trade options? The reason is when I have a loss, it is three trades, which makes the risk\reward ratio still lopsided. I think maybe two contracts may be a little better, but I also want to be able to test just one contract, which for killernoās expanding ref candle idea, may work better.
I want to experiment to see if there needs to be a compromise between a close BE\SL and almost no BE\SL.
today has a sell side loss, and the buy hit 20 TP, and looks like it may continue to climb to hit other TPā¦
I have changed my BE SL to 9 pips for BE, and SL moved to +1 pipā¦I am tired of the price going 10 pips and reversing. I donāt believe the backtester is doing a good job of showing results. Also, my reference candle was unhinged this week because of daylight savings time gapā¦it worked for the better this morning. Hopefully next week will be more normal.
With regards to back testing. If you dont have 99% tick data then its pointless. On a side note when ever i back tested say over a period of 12 months i would get periods of draw downs for 3 months and then we get trending months where we can start making money. I think this strategy works perfect in trending markets. With killernoās idea of sl/tp step method i think we might be able to minimise loses on ranging days those making the system more profitable in many market environments!
The lockinpips is changed from 8 to 1 pip.
the BE is now 9 pips instead of 19
The trailing SL settings are still the same.
Last night the sell that stayed open for so long finally did good, as the Euro fell hardā¦NFP has the sell hitting 20 pip TP, and retraced to take out the BE SL, then open the sells again and hit 20 TP again! This is just because my reference candle shows as one hour later on US charts for this week. This helps make up for the losses earlier this week.
I am now seriously considering having all trades have one TP of 20 pips, and having the max SL set at 20 pips, pending testingā¦It seems the 60 pip TP has only been hit once the whole month of Oct. for me, and the bottom line will mean more if the TP is reduced, this is because price has been ranging all month, without any real breakouts. Nov. may be more trending once the US elections are decided, because it will add certainty to the markets, but I need a better win\loss ratio than Oct gave meā¦I think to achieve this I will have the smaller BE, 5-10 pips, and compromised TP, which I think 20 pips is good.
This pretty much reiterates what i have wrote in my previous post. The system is a great idea Pipcompunder! just needs correct application for the type of market. Would love to see the results of the EA when criscross finishes it,a as killernoās idea is quiet interesting and has great potential hopefully.
Hello everyone!
this is my first post in this thread. Thanks for all your contributions. I am going through your posts and trying to learn.
I am using a practice Oandaās account on MT4, on my computer. I tried to follow instructions on how to set the expert advisor but I am not sure whether I did it correctly. (things like London Open Time, zeros in values). Is there anyone willing to volunteer a few minutes between their trades to have a quick glance at the properties of my expert advisor? Screen Share or I can send you a screenshot. MY Skype ID is: tigerrr_
This is a newbie question, and believe me, Iāve read this whole thread through.
Could you just post (briefly) exactly the set up you are using now, with SL, BE and TP figures.
There has been a lot of āamendmentsā since this was originally posted and Iād just like to see the set up as it stands now.
Apology if you have already done this and I missed it.
Many thanks in advanceā¦
The US elections must be very big, so the markets look to range until thenā¦not great for trying to profit while itās ranging.
one loss this morning, sell trades trying to find their wayā¦
today was minimal movement, everyone is waiting for the US election. After 4pips moved SL to +1 pip and placed pendings +5pips from this SL.I made 3 * 3 pips (3pips from buy side and 6pips from sell side) and waiting for bigger price jump.
[I]
crisscross1983[/I]
could you find a way to implement this āSL moveā method? I checked the mql4 document maybe we have to use the OrderClosePrice() function somehow, but anyway you know it better:)
This election loosened up the markets, finallyā¦today had winnersā¦yesterday had the 20 sell lose, but the 20 pip buy hit TP.
I am only mentioning this to stimulate some thought about itā¦I want your opinionā¦this will be on the sideā¦
I am going to test having two of the 3 lots have just a 1 pip TP, and have the remaining trade, in addition to the first two, have a very short SL2-5 pips using maxpipsā¦and test the difference between a 20 pip TP and 40 pip TPā¦This should allow me to escape the problem of having trades that hit BE run away with no trades attached, while keeping the loss of a negative BE setting to almost none. Smaller profit per trade, but much more consistent hitting of TP, so it should add up.