Okay, thanks for the info. Whats the status on your trades now?
No trades closed, but the account is looking better.
So what tweaks are you making to your settings. What does reverse means in EA settings?
just out of curiousity … how exactly does the “add positions” function work… i understand you set the number of add-on “trades”… but at what level does it add on??? below entry, above entry …???positive?negative??
can someone please explain the parameters surrounding this function.
thanks
does yours look this now??? lol …
i have both a buy and a sell, at 2 different levels on the chf. sets are the same as yours… double checked.
see attachment.
please help/explain …
thanks again
while i understand that you recommend and instruct to be traded on a 4h increment, of which i show in the previous chf post … i am interested in tooling around with different timeframes …
that said … please see the attached jpg of a 5m … unfortunatley, it doesnt show the open positions as the chart does … but…it does…2 buy positions opened 3 minutes apart…all the while, i still have open shorts …
not trying to pick apart your work…as you ,may be on to something … merely trying to help with any “bugs” …
that said … regardless of the timeframe in use, and how productive it may or may not be … the standardized rules of the strategy should not be jeopordized. i.e. if “reverse” is your rule…then i should not have any other open positions…
its a simple “cover and reverse” theory…no? i.e. if you are long 1 , and the system now decides its time to go short, the strategy now sells 2, one offsetting, the other reversing …
seems i am left with a 1 and 1 , problem …lol …
maybe its my setup, i dont know … i have loaded the sets per your instruction …
please help… thanks
b
seems i am left
i am
that
I have restartet the EA and is now trying with TF M15 instead of H4… Here is a picture of the currently open orders…
Hey bcmfxtrader,
Thanks for all your help on this. One of my kids brought home somehting really special to share with me from school, THE FLU. I got it yesterday and really kicked my butt. Anyway, what I started doing last night before the DayQuil put my lights out was to let the EA open for me and then I manually closed them. I am today I am up $4,100 on the demo and I think $30.00 on the live account if I didnt get stupid last night and manually executed a sell order at .1 lots and got my a$$ handed to me. Went against the EA and i paid. Let me get my bearings together and I will get back to all the questions that have been posted.
What I recommened to everyone is let the EA open and do a manual close. I am also using the following pairs:
gpb/usd
usd/chf
gbp/jpy
chf/jpy
I wasnt getting a lot of action on the other pairs or it didnt seem like it was worth the risk so I just went to these.
Also, tweak this thing as much as you want, I dont own it, I just found it and fell in love and thought I would share it. So don’t think your stepping on my toes, take the ball and run. RUN FOREST RUN. HA HA
I am gonna go throw up so good luck everyone and I will be back later.
Rob
What I have noticed is that this EA will open position nicely and within minutes trade will go positive…I am certainly amazed with about 90% accuracy in opening nice positions. If I left it open almost all the trades went negative and some too negative over course of few hours. None of my trades have been closed automatically yet by the EA. Now what should we do?
I am trying to see if I can combine candlestick reversal patterns and BB’s in shorter time intervals like 1h, m30 and m15 to close my trades. Is anybody using this stratergy?
riggs,
first off, hope you feel better soon.
as far as the strat is concerned … i really do think you are onto something… but i agree with what swaraj said below, as far as good entries…but then it gets backed out on by not “adapting sooner”…
that of course is simply because ema’s are true lagging indicators. that said … it does keep you in the trade longer when markets are trending nicely. THAT SAID …while we definitely have had some nice trending markets over the last several months, the volatility is what keeps us from being more profitable… trend stays intact, but violent movements cause the “trigger” to react on shorter term ema’s. which are bouncing all over the place.
but…as i like to keep systems automated, i think we can combat some of this by installing some internal money rules, so that we dont have to babysit the trades, look for exits, etc.
as i am not a programmer, is there any way to trade it in 2 lots upon entry… with a predertermined profit target, and still keep the “reverse” in effect. by that i mean … you entry 2 lots, if dont hit one lot PT (profit target) then its next signal would reverse with a 4 lot. by the same token… if entry with 2 lots, hit the one lot PT, then next reversing signal would be a 3 lot. one offset, and 2 re-entry.
what i have seen over the last couple of days since i have run this strat…is overall, it has been profitable. most losses have been very manageable, regarding dd…so no big deal. the winning side, though…i have seen these trades be positive, many times pressing anywhere from 50-100+… right now i have on about 6 positions - 2 are 60+, one is 100+… so, to stay truly profitable…we must be able to capture these long runs… yet, to keep DD to a minimum, AND increase profits…we need a first target. right now…i would say, that we could make first target atleast 30, if not 40…would be nice if it was adjustable… i.e. maybe have 30 PT on slwer markets (most of the majors), but i think we could get away with 80+ on the “wilder” crosses …the gbp/jpy to be specific.
as well … i THINK, and i say that with caution, hehe …that i may be able to make this think work on shorter time frame (5m) with same type of parameter setup, using much smaller PT’s, obviously (4-6)
again … i’m no code writer, so …can you do that??? lol…
thanks …
aud/usd … -31
gbp/chf…+141
usd/jpy …-10
usd/jpy …+12
eur/gbp… -145 (havent had any others go this far in red),maybe just wont work on this pair, we’ll see … still testing, hehe.
usd/chf… +78
gbp/jpy…+113
gbp/usd … -9 (this is on a 5 min chart)
overall… approx. net +140
except for that one pair heavy in the red, overall, the DD is fairly docile. with some more testing to find/narrow down to the optimal pairs… and maybe something like i mentioned before…we might very well have something.
main thing … have to make sure the “basket” is very diversified. cant just trade “the majors” … much too correlated… spread out…DD should be kept in check, and we just grind it out…
aahhhh …if it only were that easy …huh
okay …boys and girls …
found out the problem as to why i have “open” offsetting positions …
i.e the usd.chf the other day …
here it is, and i do not not know how to write code, but i DO KNOW when code isnt written correctly …simply because the functions of said code do not carry out intended directives .
example: if code is written to “add-on” positions…and it does, but you are left with open offsetting positions … the code was not written correctly … simple answer… any open positions “monitored” by the “system” should be accounted for correctly… i.e. open entry 1 lot… add-on 1 lot … = 2 open positions… so, when the "system goes to reverse it must execute a 3 lot… 2 to offset, and one to initiate new position…
currently … this EA does NOT … it only accounts for the initial entry … thus, any add-ons are not offset…leaving you with an entry that is still followed by the previous INITIAL single lot entry …
NOW … on to my last couple of posts… as to i feel this is a viable EA …
first off … we must find a solution to this “offset problem” … which is obviously a code problem. fix that, and we are good on the “long-term”…
short term … as stated in my previous post … i am looking for someone that can write this code as i seek … because we MUST be able to capture some profit on the volatile swings, as well as keep us in the longer term trend that may gain us MUCH more profit.
that said … i think i have found a way to circumvent the current code ( not the offsetting error, but the limitations thereof), by adjusting the current parameters …
what i hve done is set up two (2) charts of the same timeframe, in the same market… 4h seems to be the most reliable in regards to direction consistency …
on one chart i change the “sets” to read “false” on the reverse … and then i give it a profit target (PT)… thus, i capture my short term profits incase the market reverses, and assuming it hits profit target… it will not "reverse, and just intitaiet a new position, with same PT.
on the other chart, i leave the “sets” the same as given in the zip… leaving me in a position to “carry” that position if it extends …
so far, this has worked … the problem is…this EA does NOT work optimally on all markets.
i have tried it in a basket of atleast 8 dofferent crosses, some will accept, and stick wth, a trade in DD (drawdown) of well over 150+ pips … whereas in others, i have swings of less than 30 pips, in some cases the average is less than -10.
so … in theortical thinking …
i am now working on finding the most OPTIMAL markets in which the average DD, with original sets, that keep the DD acceptable, yet, at the same time, will allow us to trade both the strategies ( one takes profit, the other carries).
i am doing this by taking of the average 4h range… and using that as our first strat target … by the same token … if the average DD on the longer term strat is LESS than that target … we should be just fine.
if we hit target, lets say 40 pips, but then the longer term strat reverses, and gives us an average of 15 pip loss… we win… by the same token, if the longer term strat stay with trend and extends…we lock in whatever the parameters allow us to…
i still need someone to re-write this code to remove the “offset/add-on” issue … as well … we may be able to combine the 2 into one strat…
if not…no prob … can be accomplished by running them at the same time, but simply altering the “magic number” to allow us to do so … of which, i am doing now …
thoughts??? input??? can anyone adjust this code for me???
bcm
Good Morning bcmfxtrader,
I think I am not dead anymore. Nice insight on this EA. I will get the EA changed with your ideas so we can try it. I am posting a zip file with the presets that I made last night on the first post to keep things organized. So far they are working good. It put in a sell order for USD CAD and I manually closed it for +$26.94 on .01 lots (@.10) I did not close out the demo order and it keeps getting better, I just got nervous and wanted to cash out. What is strange is I have MM enabled on both, started a new demo account with the exact amount of money on my live account and loaded the presets on both and the live account opened to orders for .01 lots each and the demo, with the same balance opened .18 and .17 lots. ??? I will try to get the EA changed with your ideas and let you know later.
I also will keep the first post updated with the latest files.
riggs,
glad youre back from the dead… hehehe.
very encouraging that you can make the appropriate changes. hopefully we can put together something that will work for us longer term.
i.e. still capture some profits with the 1st target during chop markets, and hopefully bag them both when we catch a good extended run.
i did notice that your new presets are for indiv.markets … can we not make a “universal” set which just allows us do to what i was hoping?? i.e. open with 2 lots, have PT for ONE lot…and the ability to still carry one…and then SAR (stop and reverse) on a "reversal"signal with appropriate amount ( 3 lot if hit target/4 lot if do not). and make target changes for each internally
or, for complexity reasons…each must be developed individually??
i havent opened each preset yet, as i just wanted to ask this generalized question before i delve in.
the PT worked very well today, as i bagged three 40 pip winners (2 usd/jpy/ 1 aud/usd) and one 100 pipper in the gbp/jpy… only one losing trade in the lot … -9 in aud when it reversed … open postions had -18 pip equity.
so…overall it looks promising.
i did have one problem though …lol … i came in and saw DD of about 7k on the demo…and when i looked back at the timeframes… i saw that for about 35 minutes very early in the AM, that it did nothing but sell and buy back every bid/ask in both the gbp/jpy and gbp/usd … so, i was just having continual losses (as fast as it executed on every new bid/ask for both pairs…LOL. couldnt figure out…until it struck me, that i have my anti-virus set to update everyday at that particular time…and, it obviously interrupts the order execution…lol.
so, i opened a new 20k demo just now…re-installed on the pairs that seem to show the most promise (least amount of DD on reversals/yet still the range to pop first targets)…AND, turned off the auto-update on the anti-virus…hehe.
obviously kept the usd/jpy,aud/usd/gbp/jpy…as they popped off over 200 pips for me today, with less than 9 pips DD… and still looking for more info on eur/chf,gbp/chf,gbp/usd,and eur/usd …
i did increase the targets on the aud and yen from the 40 pips they bagged earlier, to 60…as in back checking average 4H bar ranges after signal…we could have easily got another 20 out of it… not getting greedy, just testing.
please explain why indiviual presets … and as i am sure you are doing…lets please make sure to keep each modification/update to sets separate from the others, especially the original…that way we can work with each one on its own merits - adjusting parameters and such to find the right mix.
great job, buddy …thanks for your help !!!
brian
Hello,
I’m new to this site but I’m enjoying it immensely. I am able to configure the EA with the Metatrader4 although there is only one trade executed. I have the magic numbers entered as instructed. The first trade on a 3000 demo yielded $116 in about 10hrs! The next one is at about $25 right now and still promising more. Is this EA configurable with my FXCM Trading Station? Please let me know what I have to do to have the EA work on the FXCM system instead of Metatrader4. Like I said, I’m new to this so bare with me. Thanks in advance.
Paul
Evening Brian,
Here is another version. With a rule for the exit. If the opposite signal appears on a smaller timeframe (that can be set, M15 for example), then the order is closed.
I use real small demo accounts to test because 99% of the Forex people out there are opening a live account with under $500. Yesterday I opened one for $400 and with two trades today the new balance is $1,275. It really rode the USD/CAD rollercoaster well. I manually closed though.
Try out this modified EA with the new exit rule and let me know what you think. Also email me at ------- I have something I want to send you.
As far as the different presets, again I am trying to set this EA up for newbies and small accounts. So to make it easier for the new people I created the different presets. You will notice that the Mode_MA is different on the presets as well as the Reverse setting. I backtested them and found those presets I made worked the best.
In backtesting the modified EA on EUR/USD I found that the shorter timeframe worked best at 120 minutes, 15m seemed to choppy and a lot of loss. I will keep working on this and post some results.
Take care again and thanks for all the help.
Rob
Three moving averages EA v2.zip (9.85 KB)
Hey Paul welcome to BabyPips,
As far as I know this will only work on Meta4 platforms. You can ask FXCM for their MetaTrader4 platform, they should be able to provide you with one. Good luck and welcome to FOREX.
Rob
I am not able to order .01 lots. The minimum I can order is 0.1 lots. Do you think I need to change the broker or should make changes to the other settings based on this?
This EA was working really great in 1st 3 days of the week but last night I lost almost all my profit as the margin call was activated. I didnt manually close these trades. I am now gonna run on the pairs you have suggested. HOpefully this works out good. I am keeping my fingers crossed.
By any chance any affect of initial 3 days of market than on last 2 days???
It sounds like you have a standard account and not a mini or micro. Is this a Demo account, I hope so. You need to check with your broker on this issue. If its a demo then just go to “file”, “open account” and go through the steps to open another demo, just choose mini or micro for your account. Also try the second version I just posted and see how that works out for you. I leave this running on my live account when I go to bed or leave the house, it has never blew up my account the way it did for you. The old rule of thumb is NO trading on Sunday or Fridays and a lot of people wont trade much on Mondays either so the first three days was just a fluke, I think you need to look at your settings. Also we have determined that this EA doesnt exit trades correctly, hence the update version so you might want to play with that one. Good Luck and report back on your results.
Rob
Hi RiggsRepair!
Thanks for the updated version as I’m going to give it a try! 
Quick question though – Where are the new presets (please forgive me if I overlooked them, but I thought they were going to be in the .zip file)? TIA!