Profit Generator EA - page 58
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Nich, I think a few people in here (including me) want to know what the open% does?
Changing it from default .5 to .6 does what?
Thanks, Mike4X.
I will do it too. Thank you all.
I will do it on my live mini micro a/c.
The default for PG for Trailpips is set at 5, does anyone have an opinion that we might try testing this at 10 or 15? 5 seems very close to follow price action, maybe this is knocking trades out too soon and not allowing price to breath sufficiently? Or is Trailpips trumped/not activated when SL is used?
hello... can someone please test this scalping setup
tf 15
longbar 5
maxtrades 3
onetradeperperiod true
open% .6
useclose true
tsactivation 5
trailpips 0
sl 10+
obsolete true and false
thanks!If using obsolete = true with the TF15 we need to set our obsolete minutes between 5 and 15 right?
TF15 obsolete
If using obsolete = true with the TF15 we need to set our obsolete minutes between 5 and 15 right?
Maybe I should clarify this. I know that even if we are using the TF15 to generate signals, we could still use an hour or whatever obsolete time check but if we're scalping 10 to 12 pips or whatever during trading hours, price is going to move 10 -12 pips for us or against very quickly. So, to even bother testing this obsolete = true in a scalping set-up, wouldn't it make most sense to have it checking every 5 minutes or so?
Maybe I should clarify this. I know that even if we are using the TF15 to generate signals, we could still use an hour or whatever obsolete time check but if we're scalping 10 to 12 pips or whatever during trading hours, price is going to move 10 -12 pips for us or against very quickly. So, to even bother testing this obsolete = true in a scalping set-up, wouldn't it make most sense to have it checking every 5 minutes or so?
I did for 5 minutes. But not lookin good right now. Too much stop loss due to the spike I think. Lets see. I stop testing it right now unless we find out what to do with obsolete setting.
RGDS,
SFX
Yes, the spikes. Ouch that hurts..
That's the tough side about scalping. You always need a bigger stoploss than TP. Which obviously creates serious drawdown. We need to be scalping on the right side of the maket so that we seriously reduce the chances of that big ol' SL getting hit. I've been doing scalping with the EA - No obsolete, no TS. Just taking 12 pips or losing 30. The only filter available presently in the EA which has helped the profit profile is time. The days I ran trading hours of 7-16 GMT I had my best results.
Sunday night Trading?
We should never trade on Sunday evening. At least not with this type of entry. There are some systems I've seen which are tailored to the Sunday open. Never looked much at them. The market needs to get it's barring into Monday US session usually before it's safe to trade. A lot of what happens in the market is foward looking at what news is coming out during the week ahead and what the expectations of that news are. One thing is for sure, the first 12 - 16 hrs. of the trading week are very risky. Time filtering in this market is so very important because it's perhaps the best risk filter any system can have.
Yes, the spikes. Ouch that hurts..
We need to have high winning ratio to overcome serious drawdown. We should do scalping with our best pair which is supporting PG EA. I assume cable is giving positive result in all timingS and with all settings, why not we should stick to it and with time filter find out the best settingS. I think the second best is fiber i.e. EUR/USD.
Rgds,
SFX
yes, i agree
GBP and EUR are the best two for scalping. The reason is plain and simple trading volume. There is enough interest in the currency pair to move it 10 or more pips at a time. Even CHF is questionable for scalping. It's good to include USD/CHF during high volume hours but it's almost a why bother sort of thing. I also agree we need to filter out as many losers as possible. Sure, filtering gives less trades but it also blesses us with less risk and if less losers as well, then we don't need so many winners. We need more filtering. I think the odd pairs testing is thinning out our focus in developing a viable system but alas, this is an opinion and we all know what those are like.