Mp6140's Hedge - page 5
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glad to see whats happening although i have found certain "tricks" that i pay a lot of attention to recently that reduce the already simple drawdowns (doubt they could be put into an EA though) and now have turned attention to another "beer money" trade which ill probably combine and let my ferret take over trading while i eat grapes.
as ive said SO many times, forex is not a really hard job if you JUST LOOK AT WHAT IT DOES !
so open eyes and make fortune !
gl
mpmp6140,
I still find your originaltime slot, which is place a hedge at exactly 8pm EST works everytime. In your new revised times, I did see 8pm listed, but you list it as the reversal time, and instructed to place the hedge 45 minutes to 1 hour beforethis time. Why the change? Did you notice that placing the hedge at 8pm is no longer suitable as the market changes, thus the need to place it earlier?
Thanks.
BTW, please do tell us what you have find. I have been programming since I was 10 years old back in the days of Atari and Apple ][. Who knows, maybe I can code your strategy. So put aside any doubts and give me the challenge to write it!
Regards,
Azmel.
All of my trades have closed within 12 hrs using 1 hour before. I had two left-overs still going, but I closed them so that I could load 3.2
It seems that the major reversals knock out the left-overs.
Any plans to add more time-slots to the EA?version 3.2 pretty much does everything that needs to be done. Yes, it would be great to have an EA that handle all seven hedges, but I am going to put it on hold for the time being, because you can still do multiple hedges with this EA by putting it on multiple charts.
The reason is that I have requests by other members and by some guys at Forex Factory to write their strategy, so I'm going to divert my attention going over there for the time being (I'll be back, dont worry
)
If mp6140's has come up with another strategy (as he mentioned above), then I'll jump back it straight away.
Regards,
Azmel.
Hi Azmel
Sorry to rudely interrupt the flow of the discussions on this thread....but Azmel just in case you don't normally check ur PM, I just sent you a PM...hoping to hear from you at your soonest convenience....thanks
my sincere apologies to all for my seemingly rude interruption on here
HI MP
Could you shed a little more light on the certain "tricks" you pay attention
to that reduce drawdowns using this method. I am trading this manually
most of the time without the ea so am able to watch the market.
Kind Regards
Geoff
thanks for the EA, its work fine so far
Error codes
azmel,
Thanks for your comments earlier regarding my TP whilst using IBFX I have dropped the TP to 5 and the broker has accepted it.
Now my problem is that some time frames open correctly but others post the following errors:-
2008.02.14 00:30:08 '1828455': order buy 0.53 GBPUSDm opening at 1.9609 sl: 0.0000 tp: 1.9614 failed [Common error]
2008.02.14 00:30:08 mp6140's Hedge v3.1 GBPUSDm,H1: ERROR 2: common error at 14:30
2008.02.14 00:30:26 mp6140's Hedge v3.1 GBPUSDm,H1: ERROR 138: requote at 14:30
there are others at the same time but these seem to sum the position up.
I am still using the MM feature but have dropped the percentage down to 25 and the EA is performing well. As you pointed out the TP10 was too aggressive especially using the default 40 percent risk factor.
I am still using 3.1 because I had different errors with 3.2 which wouldn't open due to price errors. With the smaller TP and Risk factor I am not concerned about running 3.2 but would like help with the above error codes.
John
Updated to advise that the 16:00 trade opened perfectly.
azmel,
Thanks for your comments earlier regarding my TP whilst using IBFX I have dropped the TP to 5 and the broker has accepted it.
Now my problem is that some time frames open correctly but others post the following errors:-
2008.02.14 00:30:08 '1828455': order buy 0.53 GBPUSDm opening at 1.9609 sl: 0.0000 tp: 1.9614 failed [Common error]
2008.02.14 00:30:08 mp6140's Hedge v3.1 GBPUSDm,H1: ERROR 2: common error at 14:30
2008.02.14 00:30:26 mp6140's Hedge v3.1 GBPUSDm,H1: ERROR 138: requote at 14:30
there are others at the same time but these seem to sum the position up.
I am still using the MM feature but have dropped the percentage down to 25 and the EA is performing well. As you pointed out the TP10 was too aggressive especially using the default 40 percent risk factor.
I am still using 3.1 because I had different errors with 3.2 which wouldn't open due to price errors. With the smaller TP and Risk factor I am not concerned about running 3.2 but would like help with the above error codes.
John
Updated to advise that the 16:00 trade opened perfectly.John,
This morning at around 0000 to 0100 GMT, the market moves very fast. I think this is the reason why the broker issed a requote. I once get my hedge positioned wrongly because the time-lapse between the BUY order and the SELL order (which is microseconds, to be honest) is enough for the distance to be wide. Sometimes the order was not accepted altogether because the price change was too rapid.
Regarding ERROR 2: Common Error, I will check what caused that. Anyone... any ideas?
Closed rather than BE
Hi.. i agree with Mr XXXX , better one side only. because when 1 direction has hit, it mean " danger position". rather than BE, i suggest better the other side should be CLOSED. .. is it right???
Close the other trade
Hi.. i agree with Mr XXXX , better one side only. because when 1 direction has hit, it mean " danger position". rather than BE, i suggest better the other side should be CLOSED. .. is it right???
That would be a recipe for disaster, sure the second trade will not get away and build up but it probably will be showing almost as much loss as the closed trade made profit, don't forget the spread allows the second trade to move further than the first and can be losing more than the first trade gained by the time the broker closes it.
John
MP -- this about that !
That would be a recipe for disaster, sure the second trade will not get away and build up but it probably will be showing almost as much loss as the closed trade made profit, don't forget the spread allows the second trade to move further than the first and can be losing more than the first trade gained by the time the broker closes it. John
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i LOVES the conversations, philosophy and warnings on these forumns --- glad I never read any when i started trading forex !
enjoy and trade well
mp