Simple Trading Method - page 2
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How is it going my people? Have you bagged some pips?
Thx for your help CA. So I've had the script running for a day now and at the beginning I saw the jump. One pair went where it was not normally supposed to be, so I traded that pair and left it on for several hours. I came back later and had made 263 dollars. Very impressive. But now I'm confused about a couple of things. How long should we let the trades go before closing them out? Are we supposed to be making 50 bucks a trade or are we going long...as in leave it there all day long? Also, how should I sort the orders. I haven't seen one pair jump in a while. I have sorted the pairs by type so that all "sell's" and "buy's" are together...but won't this inhibit the jumping of pairs? Do I do it by profit? If I click the profit tab twice and do it that way, everything becomes scattered and I'm not sure what to trade! Your help is greatly appreciated.
If you'll go to the link oludotun listed in his first post there is a profit protect EA listed there. This is the ideal way to lock in profit and has been used successfully by him for months. Just drop it on a chart and activate it after you enter a trade.
Sort by profit -- descending. That way you'll see how pairs settle and jump around. The anchor pairs then are the pairs in the #1 and #14 spots (most profit/loss positions). If things are scattered give them some time to settle -- be patient and watch.
How long for have you been trying this method? will you suggest to formally implement it?
you were lucky, it's not working all the time
2) i dont want to see any EA being made out of this system and posted here for showing-off. Indicators are welcome.
This looks promising.
Writing this setup as an indicator removes all need for the demo hedge. This is precise too since it uses the bid price and as it is, uses the open price of whatever bar you specify. Default is PERIOD_D1 offset by three. I don't have those set as external variables though.
Maybe somebody will find it useful. If it hangs when attaching it to the chart, it means it's waiting for history data to download. If you are missing one of the pairs it'll probably kill metatrader.
I'm fairly new to trading but somewhat understand programing. This is one of the first fairly serious things I've written for mt.
[edit]
Updated. Cleaned up code and made the period and offset external. So different aged hedges can be simulated/compared in different windows.
Screenshot:
Fixed most all bugs in this deal other than a sorting bug where if the gain is 0 on a pair it may show up at the bottom or anywhere. :/
The other one if mt was offline and there was no history for a pair(s) it would render mt useless. Would hang on startup. So updated code to display 'NOHIST' for pairs with no history while it's updating. Much more sane now.
Had no clue there was a month old thread and incredible development already going on forexfactory.
Oh well, this has helped me learn metatrader language if nothing else.
Here's probably the final version if anyone's interested.
system looks good.
lets see the sample taken just now;
Perhaps i decided to go LONG for EURCHF @ 1.5171
Will i be hitting target @ 1.5234 ??
Lets see what happen in a few hours..
system looks good.lets see the sample taken just now;
amazing... in less than 2 hours my target has reached.
amazing... in less than 2 hours my target has reached.
Try going equally long or equally short for all 14 pairs depending on the direction it's moving (short if net long is negative, or moving negative). That's the basic idea they came to in the other thread. That if the buys are on top and the sells are on the bottom buy, etc. Or if the sells are breaking away from bottom moving into the green time to sell.
Doing that your profit, for example if you went all long on all 14 pairs, using mini lots precisely at the close of D1 at the point you took the screenshot, would be $610.
Play with it in a demo. I'm doing demo trading in oanda and using metatrader in a vm (i use linux) for the indicators. I like oanda for instant execution esp for closing all orders at once.
If I understand correctly you are trading nearly the entire market at once with this. It's doing quite well. So if each pair moves 10 pips that's 140 pips total.
At the moment watching from the close of the previous day and the close of the previous week seems profitable. If either one gets around the neutral point it seems to act as a support/resistance level.
Thanks for the info AUPaver.
Can you tell me what is the URL of the other discussion regarding this indicator?
You are right, the basic idea of buying/selling all 14 pairs will yeild profit one way or the other but how or when do we decide it is ok to initiate the entry of all the 14 pairs?
Today i can see if selling all 14 pair will give me profit around 700+ pips.
By the way, i am running this indicator with Alpari demo account. If i remember correctly, the first page says it does not work with Alpari.. emm..
Thanks