last January 14, I posted in the Holy Grail forum (I made some money today) that after weeks of losses, I finally made some money. if you’ve read that thread, you will note that I attributed my my winnings to the scripts that I wrote for my personal use to assist me in my trades. with my scripts, I can now open and close positions, take profit at any pip that I want and even reverse my positions(close one and immediately open another) with just one mouse click.
I attached my statement as of today for you to look at. You will notice that I was losing up to my 369th trade and then after I implemented my scripts, it was uphill since then.
try scripting… it is working really well for me and I have not lost any money since I’ve had mine.
the only thing that I am doing different is that I’ve stopped any manual trading and just letting my scripts run at 9:00 p.m. EST and do the trading for me. I leave it alone for the next 12 hours, then I terminate it to gather my profits.
Ever since I started using it, as you have seen in the summary that I attached, I have gained back the 16 thousand dollars that I have lost in my previous trades (up to my 369th trade) and I am now up by 11 thousand dollars.
I’m as stupid as stupid gets when it comes to currency trading but so far, my script has run for 5 days last week and I am now positive territory so this workhorse is certainly doing its job.
will it still give me wining trades next week?.. I don’t know… that remains to be seen… I’ll keep you posted.
If you are using MT4, You can access the script editor. under the main menu, select Tools and you will find the MQL editor.
Scripts are clickable objects that you create using an object oriented programming language like Java or C++ and compiling them in MT4. you can also develop Expert Advisors (EA) that you can also run from MT4 platform.
I use my scripts to do the trades for me so that I do not have to do it manually. I run it once every night at 9:00 p.m. EST and in the morning, when I wake up, I terminate it and gather my profits. so far it is working really well for me.
to learn how to program a script for automated trading, go to MQL4: automated forex trading, strategy tester and custom indicators with MetaTrader. That is where I learned how to automate my trades.
it takes sometime to write a working script but when you get it right, it works really well. It took me more than a month to write my trading script and hundreds of hours of testing it in the demo (wiped out my 100k demo account twice) before I used it in my live account.
OK, what i said is spot on then — youve stopped MANUAL trading and let the script do it all — that totally removes whatever “human” element you brought to the table, and it appears that human element wasnt so good, but the robot does better !
by 9pm one can enter an H1 or H4 trade in the direction of the trend — there will be some drawdowns along the way, but you dont see them if youre sleeping and so dont close what “appears” to be a losing trade.
allow that i do the same manually, every evening and wake to a very decent profit — its simply identifying the trend and placing a trade (i probably have a better idea of where to take profit than you, but thats simply experience and some good support and resistance indicators.
Last Saturday, I wrote about how writing a script that automatically does my trades for me has helped me win and get my losses back. I want to give you an update on the performance of the script.
So far, as of this morning, you can see in the attached status report that the script is still working and I am consistently on the positive side. I put the script in place on January 13 when I was losing over 16k. (see trade #81 in the graph)
The downturn that you see between trades 140 to 150 was caused by the huge gap when the markets opened last Sunday and my stop losses were hit. But since then it is again consistently going uphill.
You shouldn�t be encouraging people to run scripts. To make money in forex, it takes effort and time. Not a robot. If a robot can replace a human…then everybody would be rich trading forex…
You dont have more than a month in the forum, no more tha 10 posts. And you want us to believe that the scripts can make money by their own?
thanks for your comment. I am not really encouraging other newbies to do what I did. However, it is working for me and I am making some money so I thought I’d share it with the other newbies.
but you are absolutely right that it takes effort and time (and also expert knowledge) to make money in forex. I don’t have the expert knowledge yet to trade like the experts do it so in the meantime, I just let this script do the job for me.
It is not the number of posting that I have but my trading statement speaks for itself. In fact, I just took another snapshot of my trades just right now and my scripts already made another $1200+change since my first post this morning. I attached both statements so you can see. the first one taken at 9:08 this morning and the second just taken a few minutes ago.
So, what will your action be when the script stops working? Because eventually it will. I say this because, logically, if someone could just run one script at a certain time of the day and be consistently profitable over a long amount of time, you’d better believe someone would have found it way before you.
Also, if you can’t trade well manually how are going to know how to re program your script when it stops working? What’s going to be your basis for the script adjustment, if you can’t adjust a trade yourself manually?
These are honest questions, not just digs, as I’m interested in seeing the whole picture here with your story.
I honestly wish you the best of luck, but it’s a train wreck (another one) waiting to happen.
If the real problem is dealing with your own self/emotions, the solution is not to take yourself out of the equation. It’s to learn to think properly like a trader.
thanks ThePhoenix. having a master contributor write his comment is a great honor.
My script automatically terminates every twelve hours but I can terminate it anytime. I do not make any adjustments. I have written the code such that it calculates EMA, stochastic, RSI and other indicators every couple of minutes.
it knows the shape of the previous candles and constantly keep track of the highs and the lows in 4 charts/time periods which gives it an idea as to what might happen next. it calculates the fibonachi numbers… it knows when to short when the bears take over, or long if its bullish and so on… without giving you to much information to bore you, it just does everything that I should be doing that learned in baby pips.
I know it will be a train wreck in the future but in the meantime, i’ll just let it run.
If nothing else I’m impressed with the amount of programming and thought that had to go into the programming of the script. would like to see the trading record when it’s refigured based only on the script.
The script has more than 1500 lines long. to tell you the truth, I did not not know how to write an Expert Advisor that is why I had to write scripts.
Here, attached, is snapshot of the last trading records performed by my script taken from 9:00 to 12:00 p.m. before I terminated my script this afternoon.
whil i beat it trading manually, im rather well impressed that a script written by a relative newb, can do this nicely.
as i say, trading is getting rather boring at times and something that does this is VERY handy to have around.
enjoy and trade well
mp[/QUOTE]
I am honored to hear comments from experts like MP and ThePhoenix about how my script.
Here is the latest status report as of January 28, 2009 1219h EST attached. I also attached yesterdays’ status reports so you can compare and see that it is indeed working.
I myself was skeptical at first that this program that will fail and I will lose more money BUT it looks like this is doing the job for me and has consistently made me some change every day since I let run.
if this will really work, maybe I may never have to trade manually! LOL. Keep this forum in your radar screen… maybe we have a script that has a great potential for all newbies.
I just got a new status report of my account. My program is still generating consistent wins.
I have attached four files, first is a snapshot taken on January 24. the 2nd snapshot was taken yesterday afternoon, the 3rd taken at noon EST today, and then one taken just a few minutes ago, 1325EST.
Notice how my profit trades % keeps on going up and my Loss trades % keeps on going down? Compare the total net profit as of 1-24-09 versus today’s snapshot. I think that the numbers speaks for themselves… the script is running correctly and trading well.
Just to give everyone an update on my script that wrote and I let loose on January 14. it is still going strong and have been giving me the income as a full-time trade.
I attached my trading report as of today, February 9.
Hi Baby_Pips,
Very interested in your script, cannot seem to find it. Any chance of you posting a link to it, sure a lot of people would like to try.
Thanks.
Suke
but whats the harm in encouraging people to learn mql they can write EA’s to take profit at certain levels or close all trades at a certain percentage of account loss or automate trend lines the possibilities are endless
I’m sure learning mql will assist them in their trading as far as writing your first scrip and expecting it to increase your account like a smooth equity line your right its only a matter of time till the lucky streak is over and it blows up but I don’t see any harm in encouraging ppl to learn mql
You have to understand he’s exited but that no reason to discourage him dude. Experience is the best teacher.
Nice post babypips.
There will be a time when you find everything just collapsing for apparently no reason even though they were working like a charm before. don’t worry it happens to everybody its nothing new.
When that time comes head back to the mql editor and please remember these words.
