Thank you Hess for an encouraging note. And thanks everyone for your comments.
here is section of the trading report that shows my closed P/L and my Floating P/L as of 02-09-09.
I have put in hundreds of hours in writing this script and it is a very well thought program. the original version run only for 12 hours a day and I had to restart it. I have made some changes so when I run it on Sunday afternoon, it would run non-stop until Friday at 2:00 p.m. EST.
for a newbie, it has helped me recover all of my losses.
here is the status of my automated trading using a script that I have written, as of today, 2/12/09 at 0716 a.m. PST. I also attached my trading record yesterday for your comparison. my script has consistently given me profits daily since january 14.
This script is very personal because it would do exactly what I would be doing IF I was a professional currency trader. so my script will not work for anyone else except me. You will have your own trading strategy so have to develop a program that does it for you for your own personal use.
I am not a fan of “EA robots” who claim to give you 50 to 100 pips “guaranteed” because from my experience, I cannot see how a robot written by someone else mimicking his/her trading methodology would work in my live account… this is just a personal thought.
The message I was trying to convey to fellow newbies in this thread was that by writing scripts that suits his/her trading style, a newbie can actually win.
then show us your [B]DETAILED STATEMENT[/B] for your trades, which will also show your opening balance, “floaters” (incomplete trades) and essentially, the truth !
BabyPips_class_of_2008 tell us more about that “secret script”…
Which indicators do you use? Do you use momentum? Fibo? Vegas? Pivots?
Talking about a secret script like it was a pandora’s box, is hard to understand.
Tell us more about what indicators and technics the script use. You can do this easily without reveling your “secret”… However I’m convinced that in Forex there are no secrets. Just hard work, experience, charts and logics.
[QUOTE=Argentum;89994]BabyPips_class_of_2008 tell us more about that “secret script”…
Which indicators do you use? Do you use momentum? Fibo? Vegas? Pivots?
Talking about a secret script like it was a pandora’s box, is hard to understand.
Tell us more about what indicators and technics the script use. You can do this easily without reveling your “secret”… However I’m convinced that in Forex there are no secrets. Just hard work, experience, charts and logics.[/QUOTE]
Hi Argentum… there is nothing secret about my script. Everything, all the techniques in put in my script, I learned from books that I bought from Borders. LOL.
anyway, my program uses RSI, EMA, ADX, Chaikin Oscillators, MACD, Mclellan and Stochastic. It is constantly calculating and recalculating FIBOs based on the last resistance and support. it always recognizes and continuously keeps track of possible trading patterns. it always know the shape of the last [I]N[/I] number of candles so it immediately has a sense of direction of the trade. It heavily uses Bollinger bands and it also keeps track of volume of trade.
It knows the resistance and support from the last 720 candles… and it uses a technique called the 7-bells to determine profitable trading opportunities.
my script is obviously not a simple program but a 1782-line script and it took hundreds of hours of programming and testing… and I really put a lot of careful thought in it. the best feature is that it runs on all major currency charts.
My script has been working for 26 days and I am waiting for the day when it will fail to deliver. so far, it hasn’t. compare my trading report at taken 1500hEST yesterday and today at 1835h.
Hi BPCO08,
Sounds like you’ve got quite the script/ea. Just wondering how it handles a $1k account and if you could foward test it with that and show the results. It seems the account starting balance on your statment was about $100K?
Regards
[QUOTE=mp6140;89991]then show us your [B]DETAILED STATEMENT[/B] for your trades, which will also show your opening balance, “floaters” (incomplete trades) and essentially, the truth !
[B]ITS TIME ![/B]
mp[/QUOTE]
Hi mp and thanks for your comments. It is great to have a superior trader comment on a newbie’s thread.
here is a snapshot of the portion my detailed statement, floating P/L and working orders as of 1835hPST and my trading chart as if the same time tonight.
I can’t forward test it because it is not an EA. it is a script that I run from the navigator. it is not an EA simply because I have not learned how to write an EA. I am still learning how to convert my program into an EA.
anyway, my program always makes sure that my margin will not exceed 1% of my current equity. I apologize but I do not know how it will behave with a 1k account.
Hi, sorry, probably just a difference in perception of “forward testing”…it’s what you’re doing now by letting is run in real time…which you started with $100K of real money?
So what does the script do…close orders?, make alerts when to place trades manually? draw symbols on screen? open orders?
hello Sweet Pip… yes… $100k. I lost $5k on first night of manual trading and $15k during my first 10 days of manual trading that is what led me to stop and develop this program. with this script, there is no emotion involved.
it pretty much does everything from creating orders (all kinds depending on the indicators) to closing the orders. during the first 30 seconds, my program does an analysis of everything that happened in the last 720 candlesticks and everything else it has to do (my secret brew, LOL) then it starts placing the trades. In between candlesticks, it does a lot of calc and recalc of values (another secret ingredient). I do not do anything manual anymore because I really suck. I just let it run by itself and check every now and then to see if I have internet connections. since I use cable internet, my internet provider sometimes stops and I have to restart my program.
I used to draw colored symbols on the screen to show direction of the trade or ping with alerts if there is a trend forming or success of a sell or a buy but the log file became too big (at one time 22mb) and I end up with so many objects on the screen that I finally took them off.
With this program, my average take per day is 490 pips. while I wrote the program to support the major currency pairs, I only trade EU/USD because the spread is only 2 pips.
Well I don’t know what you call an EA, but that’s what you’ve created…lol
The problem is that many on this forum won’t be starting with that much which is much more flexible with riding out huge drawdowns before returning to profit, so I would recommend throwing your “script” on a demo account with $1k and see how it does.
I have like this thread so far, but it is kinda misleading…
First, you are obviously not a newbie. Hopefully, the newbies that are on this board realize this.
Second, please, please, please, stop telling newbies that they need to be writing scripts.
They don’t.
What newbies need to be doing is learning how to TRADE first.
You said so yourself: [I]You were losing money trying to trade your plan, but your emotions continued to get in the way. So, you took [B]YOUR PLAN,[/B] and just automated it. [/I]
This is fine and dandy, and everything, and I actually commend you for doing this, but newbies should not even be THINKING about writing a script until they have developed a trading plan that they have tested and that they KNOW works. Then, they can automate away:D
I most emphatically agree with sweetpip and will admit that my nature is rather suspicious of something that sounds “too good to be true” from a one year trader.
while i havent gone over the statement with a fine tooth comb, the straight line growth on the chart is almost an impossibility ---- even with my record of consecutive wins, MY lines have slight movements of an up and down nature in them.
i HAVE seen some photoshop work that rivals this from some outright frauds, but i will reserve judgement until such time as i have more definite ideas.
considering his script rivals my daily pippage and that we trade the same currency pair, although i take far more pips per trade than his script, i will have to check a number of transactions to understand more fully.
of course, i could be wrong, in which case the gentleman in question should just be ecstatic about being on his way to his first million, but WHY is he working with a $100K account and talking about it here on baby pips, when there are ADVANCED (expert traders) forumns available for that topic !
