HedgeEA - page 38
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hi Stevensign.
this indicator are great , i play with it and try to do some "what if" and saw that if i open 2 trade with GBPUSD AND USDJPY on 1.1.2006 with out tacking profit today my acount will have $20000
we should check mabey not tacking $100 0r $200 profit and wait for a long time to tack bigger profits.
i whould like to ask you , can i use this indicator with other pair ?
I've attached a hedge indicator that I wrote for the http://www.freedomrocks.com/23596 currency pairs.
It reads out in dollars profit or loss based on your entry point.
This is an update to the indicator I attached in post #214.
hi Stevensign.
This indicator is great , I play with it and try to do some "what if" and saw that if i open 2 trade with GBPUSD AND USDJPY on 1.1.2006 with out taking profit today my acount will have $20000
we should check maybe not taking $100 0r $200 profit and wait for a long time to take bigger profits.
I would like to ask you , can I use this indicator with other pair ?
I've attached a hedge indicator that I wrote for the http://www.freedomrocks.com/23596 currency pairs.
It reads out in dollars profit or loss based on your entry point.
This is an update to the indicator I attached in post #214.Currently, I've only set my indicator up for the FreedomRocks strategy, not that it's the best, it's just where I started. The FR stategy only does Buys. One common suggestion from FR is to use the GBPUSD against both the USDCHF and USDJPY. So "half" of the money would be with the GBPUSD and one-fourth would be with each of the other two. This helps to balance risk because the USDCHF has better correlation with the GBPUSD while the USDJPY has higher interest. You can see the interest for a given pair by clicking on "Symbol Properties" in the "Tester" window. I've attached a screenshot.
FR is big on the interest, that's why they chose the 1 World Forex (1WF) platform. 1WF has probably the best interest and 400:1 leverage up to $100,000 but their spreads are higher. Here is a link to their S/W http://www.strategybuilderfx.com/downloads/sbfx4setup.exe.
Here is their home page: http://www.1world-forex.com, I think you only get 400:1 if you signup through FR.
I would welcome any comments about this broker.
Back to my example above. Assume you are planning to use four lots. Using my strategy I would allocate two lots to the the GBPUSD and one each to USDCHF and USDJPY, the average daily ranges are 120(GBPUSD), 90(USDCHF), and 80(USDJPY) and the prices of the USD based currencies are:1.2100 and 119.00. So I would buy 1.21 Lots of USDCHF, 1.19 Lots of USDJPY and ((90+80)/2)/120 = 0.71 *2 = 1.42 Lots of GBPUSD. (Assuming equal balancing) (I know this results in only 3.82 lots, I can bump the number up by 4/3.82=1.05 if I wanted to use exactly 4 lots, or scale it to any other total)
I don't know how FreedomRocks calculates but my method gets you a good answer also. The calculator in http://forexforsmarties.com/ also gives different numbers.
Later I'll update the indicator for more currencies.
That's my two cents, I welcome feedback.
i open my account with 1 World Forex (1WF) i just need to fund it, i talk with them on the phone and every thing look fine , but i never heard on them in the past, you can also get 1:400 with GFT BUT THE DON'T HAVE MT4.
here is potential issue when trading different symbols from one chart and the profit is an addition of the profit from all the symbols.
let's say you are trading buy EURUSD and buy USDCHF. The EA is on the EURUSD chart.
1. EURUSD *gaps* up putting it in profit greater than the profit target
2. USDCHF chart freezes due to trade !IsTradeAllowed() but the bid also gaps down in the USDCHF
3. the profit addition in the EURUSD shows that the profit target has been triggered but would not if the USDCHF bid was added
4. The two symbols close at a loss
i think this is what happened in one of my demo accounts with the price gap with the beginning of trading on jan 2.
anyone have a solution for this?
here is potential issue when trading different symbols from one chart and the profit is an addition of the profit from all the symbols.
let's say you are trading buy EURUSD and buy USDCHF. The EA is on the EURUSD chart.
1. EURUSD *gaps* up putting it in profit greater than the profit target
2. USDCHF chart freezes due to trade !IsTradeAllowed() but the bid also gaps down in the USDCHF
3. the profit addition in the EURUSD shows that the profit target has been triggered but would not if the USDCHF bid was added
4. The two symbols close at a loss
i think this is what happened in one of my demo accounts with the price gap with the beginning of trading on jan 2.
anyone have a solution for this?what are your settings?
what symbol did you set for the bollinger? If I am not wrong, you should be putting EURCHF as the bollinger symbol.
Hi all
I did not use the MM in the script.
My current account is
Initial Balance: 1000.00
Balance: 1126.38
Equity: 1020.52
Margin: 862.99
Free Margin: 157.33
Margin level: 118.25%
Am I doing the right calculations? I would like to risk like only 10% of my account.
bodshyipmonitor
Hi bodshyipmonitor,
I may be wrong, but it would appear you've put almost 90% of your capital at risk.
Limit buys and sells
Is it possible to sell part of a position using a limit sell? I've tried to do this, and the result is that MT4 opens a short positioninstead of selling part of my existinglong order. Any suggestions on how to get around this? Is it possible? This could become a factor if we try to catch some of the volatility in the hedge.
Doug
what are your settings? what symbol did you set for the bollinger? If I am not wrong, you should be putting EURCHF as the bollinger symbol.
i don't use the bollinger settings. i have the ea open a new set of trades as soon as one set is closed at a profit.
i think a solution is to create a small ea that checks for IsTradeAllowed() in the secondary symbol USDCHF. if trade is not allowed then set a boolean globalvariable which will be read in the symbol which has the hedge ea.
in the ea which is attached to the EURUSD chart you would have
if (!IsTradeAllowed() || GlobalVariableGet(Symbol2Allow) == 0)
{
Comment(" WARNING - TRADE IS NOT ALLOWED !");
return(0);
}
[/PHP]
in the USDCHF chart you would only need
[PHP]
if (!IsTradeAllowed())
{
Comment(" WARNING - TRADE IS NOT ALLOWED !");
GlobalVariableSet(Symbol2Allow) = 0;
return(0);
} else {
Comment("TRADE IS ALLOWED !");
GlobalVariableSet(Symbol2Allow) = 1; }
Cash Grabs
here is potential issue when trading different symbols from one chart and the profit is an addition of the profit from all the symbols.
let's say you are trading buy EURUSD and buy USDCHF. The EA is on the EURUSD chart.
1. EURUSD *gaps* up putting it in profit greater than the profit target
2. USDCHF chart freezes due to trade !IsTradeAllowed() but the bid also gaps down in the USDCHF
3. the profit addition in the EURUSD shows that the profit target has been triggered but would not if the USDCHF bid was added
4. The two symbols close at a loss
i think this is what happened in one of my demo accounts with the price gap with the beginning of trading on jan 2.
anyone have a solution for this?I'm aware of this problem, I think I understand it, at least I do have a fix.
The problem is because the EA is executed only once per tick of the currency it's attached to, so you can see the profit on your tradestation reach its target but if there aren't any ticks on the chart your EA is attached to, the EA won't see it.
I use an EA that just does cash grabs (you could probably just set the Hedge EA to not open any trades) and I put a copy on each of the Currency pairs I have trades in. I've tried puting it on the cross pair, that helps but it's not as succesful as putting an EA on each chart.
You could try writing a script that never exits (an infinite loop) but that would probably lock up your computer. since scripts are executed immediately but only once.
After rereading your question, this may not be the solution.
Another problem I had was making sure to use the RefreshRates command just before the EA checks profit.
Let me know what you think.