EA request for trading 4 majors - page 2
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
I personally would not trade the Sunday candle and would wait until the Monday candle. I think the EA would allow the user to input your server's time for the start & end of the daily candle. The exception would be for the EA to close any open orders on Friday before the market closes. This would need a separate input otherwise you would need to manually change the close time every Friday when the order is initally placed. This method has been forward tested since 10/18/07. See statement for today’s results.
Looks like for this week USD/CHF did damage. See attached. Need lots of forward testing. Might get lucky some weeks but might blow account other weeks. That's why I think it might be worth while trading on the direction of Yesterday's close. Maybe can be added into EA.
Very true about being up some weeks and down others. My way of thinking is that if the dollar weakens will result in the GBP/USD & EUR/USD being in favor. On the flip side, if the dollar strengthens then USD/JPY & USD/CHF will be in favor. With our reward 1.5X the risk it would seam likely to be profitable as long as our targets are being hit.
6 possible scenarios can play out:
Win all 4 = 240 pips
Win 3, lose 1 = 140 pips
Win 2, lose 2 = 40 pips
Win 1, lose 3 = -60 pips
Win 0, lose 4 = -160 pips
And at times, we will have those positions that will be manually exited at the end of the day for a profit or loss because our target wasn't reached.
no, you could not put
[/code]
instead you should put
[code]
if(TimeHour(TimeCurrent())==19)
if(TimeMinute(TimeCurrent())>49
that should do the trick on closing evry trade at 19:50
to set MM to false, just set the input to 0
awright, thank you for reading the code line by line, and adding your needs to the code it self, that's a good way to achieve your own needsOk, thank you
that should do the trick
Thank you for the update, but what time in GMT is you EA set to close all trades on Friday? IBFX closes at 19:56 GMT. Do all brokers close for the weekend at this time? I think StrategyBuilder FX closes at different times ??
What does select option 2 mean?;
TradeDir=1; //1 =Buy, 0=Sell, 2=Both direction
Can your EA be programed for what I mentioned in my previous post? Might help it determine if it should select Long or Short for the day.
EDIT2: IBFX closes just before 20GMT so should I change;
if(TimeHour(TimeCurrent())==20)//asuming that every server time will be at end when the time reaches 20:00
[/code]
to
if(TimeHour(TimeCurrent())==19:50) //asuming that every server time will be at end when the time reaches 20:00
[/code]
also, can you make MM optional True/False. Thanksno, you could not put
[code]if(TimeHour(TimeCurrent())==19:50)
[code]
if(TimeHour(TimeCurrent())==19)
if(TimeMinute(TimeCurrent())>49)
that should do the trick on closing evry trade at 19:50
to set MM to false, just set the input to 0
awright, thank you for reading the code line by line, and adding your needs to the code it self, that's a good way to achieve your own needs
I'm attaching an Auto Daily pivot indicator that resets its self at day open 00:00GMT so might be useful to add in the EA to check before making the trade.
A common thing when starting trades for the day is to check the Daily pivot and if opening above then go long and if opening below Daily pivot, good indication of Short.
So instead of using this;
TradeDir=1; //1 =Buy, 0=Sell, 2=Both direction (2=Both direction - Whatever that means
)
Have the EA have an option to check Daily pivot first to set direction of day open trade. I don't know, I'm no coder so might me to difficult to implement.
I don't believe it's possible to win on all four, but it is possible to lose on all four. This is essentially a dollar hedge. I have an EA that I ran for 6 weeks that kicked ass, but the wheels came off during the carry trade meltdown of late july early august. I saw all 4 pairs lose. The pairs will usually go into positive at some time. My EA sets a profit target of $20 per 1 mini lot traded. I was trading 5 minis for each currency with $100 target, and when this was reached it closed out the trade, emailed me, then started over. The largest drawdown on a trade that size was around $900, but would eventually recover. It hit 36 times in the six weeks, then the unwinding. I had to step out of each pair individually, and it took 4 weeks to get out of the USDJPY trade. Wasn't too fun. I am trying to come up with a way to tell when it's best to trade and best to stay out, and so far, all I've come up with is an indicator that averages the prices. The problem is it makes the MT4 platform run very slow. I also created one that trades two pairs in the same manner. You choose the pairs. I ran this one with 8 different pairs and it also kicked butt. Eventually there are pairs that just get worse, adn you have to leg out of them. It was trading 3 minis and taking a $50 profit. I made good money out of them but they can get away from you at times. I'm not using them now, but I may start back again, cause when the correlation of the pairs work, it's great. Big moves in the direction you are taking will give you 4 or 5 wins in an hour, then sometime nothing for a couple of days.
Did you trade all 4 pairs in the same direction every time? Are you saying it is a loser when the USD based pairs unwinded from the carry trades? This would mean USD went south but what about the GBP & EUR? Did they not go up?
@lcfxtrader - I don't know if it helps to create a good set of pairs, maybe you have the best ones already but I've noticed a few pairs that trade almost the exact opposite or trade almost in sync with each other.
One opposite is USD/CHF and EURUSD see pic
My broker is closed right now so cannot load the others to show you but will post the other currencies that follow each other either 'with' or 'opposite' on Sunday if you think it might help us or your system in anyway? There are better ones than the one I just posted
I loaded the EA over the weekend and forgot to use it for Monday & Tuesday.
I will forward test using the EA from this point forward. I also increased the lot size to 2 for each pair.
Yohanip,
Does the EA have an input for time in regards to the Friday close? EX: ODL server closes @ 22:00 GMT for the week so would like an input for this if possible. Also, are you testing? Thank you, lcfxtrader
Stop Before TP or SL
Hi,
I fowardtest it some days.
One time i closed the ordes to take profit before SL and TP hits.
The EA open the order again. :/
Would be nice to let us close the orders before SL and TP without re-open it.
Thanks and sorry my bad english