Chaa-Ching - page 6
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I am happy with this EA but my broker interbankfx is allowing 100:1 leverage at most. At demo, they are offering 200:1 or 400:1 or higher. Is there a way to work with 100:1?
Changing broker is a rather tough option, I may have to open a new account, formalities and then fund withdrawal and send it back again.
IBFX has been sending emails regularly that they would be opening offices in London or Sydney, not sure if it's a bluff. FXDD did not take much time for their Malta office. I am really now getting bored of IBFX. It sucks...
- SukhenIt should work but use MM and trade very small increments. I suggest for $ 1000 in 0.02 increments. Also you need to watch what cycle setting you use. Optimize it and get the least trading one for your real account. It can be scary because if something trending for a long time it will Martingdale the scale in for that long trend. You don't wanna be out of margin! Rather little profits over a long time than wiped out!
Jo, I'm using a 25 SL with eur/usd.
So far it's been okay.
Think this stop with eur/usd is a good idea?Yeah try it why not. I just don't get any good results with stops. Just optimize the settings in the PriceAction section. It should come up with some good provabilities settings. In addition I suggest to make the optimizing a ritual because market conditions change within a week. I suggest to use Fridays for optimizing and get all positions closed on Fridays!
JoForex,
I have 2 brokers: IBFX and Forex.com
IBFX opens Sunday at 6pm (EST) and closes on Friday at 4pm (EST)
Forex.com opens 5pm on Sunday and closes at 5 pm on Friday.
When IBFX opens on Sunday at 6pm, it is missing all the chart data that has accumulated on Sunday until then.
Will this effect the system, if the charts don't start updating until 6pm on Sunday?
Also, when the trade is wrong and losing money what eventually gets you out of the trade? Does the "exit signal", assuming that you are using it, eventually kick in and get you out of the losing trade? What is the "exit signal" based on for profits and losses?
ThanksI dont know how it works with Forex.com have not tried it.
The system is designed to build a position over a wider range. sometimes it can be that it does scale you in over 100+ pips. So what we do with that scary Martingale like approach is we find a opposite currency to our trade! I use to trade USDJPY against USDCAD and EURUSD against EURJPY or AUDUSD etc. Take a currency that is trending against your main currency. It is like a hedge trade and if the cycle turns the one side wins and vis versa. You have to deal with 20% + draw down but the equity side in your account should increase.
No SL I do not believe in it. I just would like somebody step up and get me a better signal filter indicator. Can you write MetaTrader SQL language?
JoForex,
I have 2 brokers: IBFX and Forex.com
IBFX opens Sunday at 6pm (EST) and closes on Friday at 4pm (EST)
Forex.com opens 5pm on Sunday and closes at 5 pm on Friday.
When IBFX opens on Sunday at 6pm, it is missing all the chart data that has accumulated on Sunday until then.
Will this effect the system, if the charts don't start updating until 6pm on Sunday and they close at 4pm on Friday instead of 5pm?
Also, when the trade is wrong and losing money what eventually gets you out of the trade? Does the "exit signal", assuming that you are using it, eventually kick in and get you out of the losing trade? What indicator/s is the "exit signal" based on for profits and losses?
Perhaps this can be optimized.
Thanks
I dont know how it works with Forex.com have not tried it.
The system is designed to build a position over a wider range. sometimes it can be that it does scale you in over 100+ pips. So what we do with that scary Martingale like approach is we find a opposite currency to our trade! I use to trade USDJPY against USDCAD and EURUSD against EURJPY or AUDUSD etc. Take a currency that is trending against your main currency. It is like a hedge trade and if the cycle turns the one side wins and vis versa. You have to deal with 20% + draw down but the equity side in your account should increase.
No SL I do not believe in it. I just would like somebody step up and get me a better signal filter indicator. Can you write MetaTrader SQL language?Unfortunately, I can't write Meta trader SQL.
So, in other words you are telling me that with this system, as it currently is, if you are very, very wrong on a trade the entire account could be blown out?
It seems like a safer way is to use some type of stop and to use an exit signal with a r/r ratio of at least 1 to 1 and preferably 1 to 1.5.
If you get stopped, the system will still open new trades in the same direction so you have a chance at still making money on the trade.
However, without some type of stop and some way to limit your open positions, the account will eventually blow out because eventually, you will get caught on the wrong side and it won't come back.
Just my two cents.
Also, I downloaded the cyclops and the V/M indicators but I can't get the cyclops to drop on my charts. Is there a problem doing this?
What are these indicators used for?
Are you trying to code them into a new EA?
Thanks
Unfortunately, I can't write Meta trader SQL.
So, in other words you are telling me that with this system, as it currently is, if you are very, very wrong on a trade the entire account could be blown out?
It seems like a safer way is to use some type of stop and to use an exit signal with a r/r ratio of at least 1 to 1 and preferably 1 to 1.5.
If you get stopped, the system will still open new trades in the same direction so you have a chance at still making money on the trade.
However, without some type of stop and some way to limit your open positions, the account will eventually blow out because eventually, you will get caught on the wrong side and it won't come back.
Just my two cents.
Also, I downloaded the cyclops and the V/M indicators but I can't get the cyclops to drop on my charts. Is there a problem doing this?
What are these indicators used for?
Are you trying to code them into a new EA?
ThanksThis is up to you how you going to use this. At my end I have been successful with it for the last six weeks with a 20% drawdown. The indicators need to be build in to EA and that would be some final way to exploit better entry points. Good Luck buddy!
the indicator
This is up to you how you going to use this. At my end I have been successful with it for the last six weeks with a 20% drawdown. The indicators need to be build in to EA and that would be some final way to exploit better entry points. Good Luck buddy!
Look at todays GBPUSD attached ot this than you see the indicator working.
This is up to you how you going to use this. At my end I have been successful with it for the last six weeks with a 20% drawdown. The indicators need to be build in to EA and that would be some final way to exploit better entry points. Good Luck buddy!
Do you use the exit signal for profits or just place a 55 TP?
Do you use the exit signal for profits or just place a 55 TP?
Well you need to work a little on the optimizer. I use 55, 35, 75 whatever suits me best!
Nice GBPUSD trade
Now it is getting clear how it's supposed to be. Nice trade!
Which are your CycleIdentifier settings for GBPUSD joforex?
1,15,8 gives me a lot more signals.
Also VMTrend is different from the 5,10 original setting?
Trying to get the setup correct I am missing another indicator with the Buy/Sell Zone.
Thanks for any advice.