Would like to ask, did u guys open the EA 24/7 for the whole week? If were to off com to sleep will it change any results? Is this EA only for london and NY session?
The computer has to be on and online the whole trading week. I have a VPS that runs the EA 24\7. I have only found profitable results with the london and Ny session.
okā¦ so i gota keep the EA run 24/7 in order to fully utilise the power?
max slippage set to 10 pips.
Okay, today my long stop gave me error 128 - Trade Timeoutā¦
I would think this is the same issue you guys have had yesterday!
Maybe the retries will do something about it. As I didnāt watch the trades being placed today, under which circumstances that happened, I canāt tell for sure what was up with it. Iāll keep an eye on it in the next sessions!
I have 2 orders still pending. Price has not gone above or below the london open as of this writing and no orders canceled as of yet.
EA placed orders correctly today for me.
London sell is open, and NY had a longish candle, so waiting for price to take a directionā¦which I hope is a long way down below 1.35000ā¦
Hi PC.
I have also been looking at ways in which to maximise the moves that are greater than 30 pips. Originally when you had 3 TPās (20, 40 & 60) you used a trailing SL of 20 once the TP had reached 20 on the 40 & 60 TPās. I have noticed on backtesting visually using the 1H ref candle before the London open (7h00 GMT) that 40, 60 & 80 TPās have following average profit per day. 40 TP = 15.7; 60 TP = 17.1; 80 TP =19.2 as opposed to 8h00GMT ref candle of 8.8, 10.2 & 11.4 pips per day respectively. When Jonathan has done the EA for MT5 it might be worth backtesting with these settings.
I have also been using the length of the ref candle as the SL rather than a fixed 30 pip SL. The average loss on ref candle SL is about 24 pips per loss since August last year. On the 7h00 GMT candle it is 17.6 pips. These suggestions would reduce the risk while increasing the reward.
Thanks to all for the good work on this strategy and EA.
My final thought for today is that with a good money management system which uses a fixed exposure of say 2 % of capital reviewed each week 10 to 15 pips per day will accumulate into a more than tidy sum.
Hi Jonathan
What is the latest version of the EA. Iāve got Alpha 4. If there is a new one please could you post it.
Thanks
I realise there are cases where set profit is cannot be done thus the alert. How to correct the error? Why cannot set profit?
Ok, so yesterday was a total loser.
Todayās London candle is big, and price hasnāt yet broken out of it, yet.
the NY has an open sell.
~Brinyvistaā¦thanks for your interest. On the SL, I use the opposite end of the reference candle still, unless the ref candle is longer than 30 pips, like the London today. Yes, usually itās 20-25 pips, and the NY candle seems to be about 15 pips, averageā¦of course this means days of 8 pip candles, and other days of 45 pip candles.
It does seem that on some days, when the trend is really going, like it was in the middle of January, that 80 pips is possible multiple days of the week, but then when the price hits really high, and starts to consolidate, we canāt even get our 30 pip TP to get hit, so we have to have the āhappy mediumā, where the bottom line at the end of say, 3 month period, is the highest.
Cheering!!!
Finally!
thanks to Draghi trying to weaken his currency by talking (which he did very successfully), we have TP on both London and NY for todayā¦maybe this week wonāt end so bad.
Using 80 pip TP would have netted 120 pips from the beginning of the year to date for London only. 2 TP per week is more than 5 TP, but there are also more losers to take away from the gross.
Using 60 pip TP would have netted 256 pips from the beginning of the year to date for London only. 3 TP per week is more than 5 TP, but there are also STILL more losers to take away from the gross, but not as many losers as 80 pip TP. Not many more losers than 30 pip TPā¦this might be something to look into.
Hi to all the gods from this wonderful strategy and EAā¦
All the newbies like me would be lost for months trying to figure out the best settings if it wasnāt for the amazing work that you guys put for free besides your daily work/life etcā¦ Big thanks really!!! Also I want to profit to thank all the people who make babypips possible as they really made the difference for me in hopefully one day becoming a successful forex traderā¦ Otherwise I would still be dealing with scammers and āholy grailsā EAs, etcā¦
Iāve read all the thread, but somehow I still get confused with the auto GMT/ offset thingā¦ I know that I can eventually work it out, and itās a little lazy from my side to ask about this, but somehow when it comes to GMT times, my mind becomes very very thickā¦ Maybe itās because of too much thinking about the right TP, SL, BE, etcā¦??.:56:
So I use Armada markets which are in GMT time, so what should I put thenā¦? Please some kind person help me not to have to think of GMT offset times again!
BTW Iām surprised none of you have mentioned Armadaā¦ Which for my little understanding are from far, the bestā¦ Any problem with them that Iām unaware off?
Again big thanks to Pipcoumpounder, Crisscross1983, Killerno, Riley, Jonatan and the restā¦
Looking forward to forward test the next three monthsā¦Let seeā¦ But it looks like this time you really found some sort of Holly grailā¦
Big Hourra for the knights of the Round Table!!! :35:
PS: If I donāt get an answer for the GMT settingā¦ Never mind you guys are GREATā¦Just hate to think about thatā¦ BRRrrrr!
~Keep my pips, if youāre brokerās server time is 0 GMT, then you can use autoGMT as false and the GMT offset as 0.
REMINDER: everyone using FinFXā¦there server changes to 0 GMT over this weekend, so make sure you change the GMT offset to 0
While 60 pip TP had good backtesting results with London, it wasnāt very good with NY, only 17 net pips for last 3 weeks.
Thanks so much Pipcompounderā¦ You always have time and energy to helpā¦
YOUāRE THE MAN!
The default in code is 2 rite? My broker is gmt-5 how do i set it?
It look like the system BIG BOSS on another forum
It appears weāre back to the year 1492 when the world was flat. āSail on Columbusā!! There is just not much happening out there. PCā¦OK, so Iām a newbie trying to figure this all out (psychology included) and itās Fridayā¦what else is causing the markets (well many anyways) to be in a stall?
Hi Againā¦ I canāt stop repeating how grateful I am for this strategy/Eaā¦
Iām using all the same settings as posted beforeā¦ So I was surprised to see the EA send 5 identical trades on each directionā¦?
Anybody else had this issueā¦? Am I completely dumb and doing something wrongā¦?
Please see picā¦
Somethingās probably up with your broker, Iāve never had a multiple entry problem like that.
Maybe try demoing on different brokers.
Londonās sell today won, and NY sell is open.