I've been using Pipmasher (PM) for a while now with extremely positive results. In my quest to try and improve PM (a very difficult task, since it is already a killer strategy) I've developed a new version (ie Gama version) that can generate a lot more cash than PM. Now this method is basically PM coupled with multiple pending orders, like the ones that Bob uses in HGI.
The idea here is that instead of placing just one pending order under the last daily candle, we place a series of pending orders 20 or so pips apart from each other with a TP of 20 or 30 pips. The number of pendings depends on my TP. Mostly a SL of 1x Daily ATR and a TP of 3 x Daily ATR, so If my TP is 300 pips away from my entry then I would place 15 pending orders 20 pips apart from each other, and each one with a TP of 20 or 30 pips
In order to maximize my profits I use the idea of letting my profits run by removing the TP on the first pending in the series. This leaves me with only one open order (after all the other pending’s have hit TP) that closes last thus maximizing profits.
If the daily candle gives us another entry opportunity we delete all pendings left on the table and repeat the same process by placing new pendings up to our new TP. The open trades that are still active are left on the table.
At the end of the week I go through the charts and decide which trades to keep and which trades to close. I usually close all trades that are in a retrace and hope to catch them again next week.
Hope you enjoy it
Matt
:hi: :youknow:
Sounds like a neat plan, but you didn't attach your version to your post. Hey ho. I do that all the time when sending ea's by pm.
Read the effing manual, ok?
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My special thanks to Thomas (tomele) for all the incredible work he does here.
I've been using Pipmasher (PM) for a while now with extremely positive results. In my quest to try and improve PM (a very difficult task, since it is already a killer strategy) I've developed a new version (ie Gama version) that can generate a lot more cash than PM. Now this method is basically PM coupled with multiple pending orders, like the ones that Bob uses in HGI.
The idea here is that instead of placing just one pending order under the last daily candle, we place a series of pending orders 20 or so pips apart from each other with a TP of 20 or 30 pips. The number of pendings depends on my TP. Mostly a SL of 1x Daily ATR and a TP of 3 x Daily ATR, so If my TP is 300 pips away from my entry then I would place 15 pending orders 20 pips apart from each other, and each one with a TP of 20 or 30 pips
In order to maximize my profits I use the idea of letting my profits run by removing the TP on the first pending in the series. This leaves me with only one open order (after all the other pending’s have hit TP) that closes last thus maximizing profits.
If the daily candle gives us another entry opportunity we delete all pendings left on the table and repeat the same process by placing new pendings up to our new TP. The open trades that are still active are left on the table.
At the end of the week I go through the charts and decide which trades to keep and which trades to close. I usually close all trades that are in a retrace and hope to catch them again next week.
Hope you enjoy it
Matt
:hi: :youknow:
I've received a few PM's about the my method and I need to clarify a few things... Pipmasher Gama is not an automated system, it is merely a hybrid approach that I use. The way it works, at the moment, is by letting Pipmasher EA do its thing and then intervene manualy by adding pendings up to where my TP is (which is usually 3XDaily ATR). I use the scripts provided by Steve in HGI forum (http://www.stevehopwoodforex.com/phpBB3 ... p?id=43086) to place my pendings.
Matt
"Wise men speak because they have something to say; Fools because they have to say something." - Plato 347 BC
matt_32 wrote:I've received a few PM's about the my method and I need to clarify a few things... Pipmasher Gama is not an automated system, it is merely a hybrid approach that I use. The way it works, at the moment, is by letting Pipmasher EA do its thing and then intervene manualy by adding pendings up to where my TP is (which is usually 3XDaily ATR). I use the scripts provided by Steve in HGI forum (http://www.stevehopwoodforex.com/phpBB3 ... p?id=43086) to place my pendings.
Matt
Hi Matt,
What do you do when the trade doesn't go your way? Do you let the EA take out all pendings with preset SL or do you manually set SL for each pending? (of course assuming they've all been triggered )
matt_32 wrote:I've received a few PM's about the my method and I need to clarify a few things... Pipmasher Gama is not an automated system, it is merely a hybrid approach that I use. The way it works, at the moment, is by letting Pipmasher EA do its thing and then intervene manualy by adding pendings up to where my TP is (which is usually 3XDaily ATR). I use the scripts provided by Steve in HGI forum (http://www.stevehopwoodforex.com/phpBB3 ... p?id=43086) to place my pendings.
Matt
Hi Matt,
What do you do when the trade doesn't go your way? Do you let the EA take out all pendings with preset SL or do you manually set SL for each pending? (of course assuming they've all been triggered )
Thanks for sharing your idea
This is Pipmasher strategy. Same rules apply. If you have a SL, then use your SL. If not manage your loses any other way you think is appropriate. I personaly use a SL of 100-200 pips or ATR.
Remember that this is not a new Pipmasher. Pipmasher is a money making machine. What I was trying do is squeeze more pips out of it. Nothing elaborate about it.
Just trade it the way it is described in page 1 and you'll be fine.
Matt
"Wise men speak because they have something to say; Fools because they have to say something." - Plato 347 BC
I've received a few PM's about the my method and I need to clarify a few things... Pipmasher Gama is not an automated system, it is merely a hybrid approach that I use. The way it works, at the moment, is by letting Pipmasher EA do its thing and then intervene manualy by adding pendings up to where my TP is (which is usually 3XDaily ATR). I use the scripts provided by Steve in HGI forum (http://www.stevehopwoodforex.com/phpBB3 ... p?id=43086) to place my pendings.
Beside PPM, I re-enter with pendings at the high/ low of a candle after a stopout when trade still looks good. Seeing that it again gives a 100 SL, it might be better to use a 100 JS instead of 50 JS.
Results attached.
.
Fantastic Gertje
PC
Thanks Steve & PC for a great system!
PC your thoughts about a JS of 100?
Gertje would I be correct in assuming you are on 100:1 leverage and do you keep open positions over the weekend?
Last edited by freeman on Sat Jan 24, 2015 12:27 pm, edited 1 time in total.
I've received a few PM's about the my method and I need to clarify a few things... Pipmasher Gama is not an automated system, it is merely a hybrid approach that I use. The way it works, at the moment, is by letting Pipmasher EA do its thing and then intervene manualy by adding pendings up to where my TP is (which is usually 3XDaily ATR). I use the scripts provided by Steve in HGI forum (http://www.stevehopwoodforex.com/phpBB3 ... p?id=43086) to place my pendings.
Matt
Unfortunately I am not coder so...... In the meanwhile if you guys wanna prove that Gama is worthwile automating, you should test it and present evidence to support this.
In any case it is very easy to trade Gama as it only requires 5 minutes daily for preparing your pendings
Matt
"Wise men speak because they have something to say; Fools because they have to say something." - Plato 347 BC
Beside PPM, I re-enter with pendings at the high/ low of a candle after a stopout when trade still looks good. Seeing that it again gives a 100 SL, it might be better to use a 100 JS instead of 50 JS.
Results attached.
.
Fantastic Gertje
PC
Thanks Steve & PC for a great system!
PC your thoughts about a JS of 100?
Gertje would I be correct in assuming you are on 100:1 leverage and do you keep open positions over the weekend?
No problem
JS of 100 (or 75) will give you more pips, but you also need to be more patient... Personally I prefer to book profits while they are there and also compound / adjust lot sizes every trade.
Both strategies are winning in trending markets.
PC
"Perfection is Achieved Not When There Is Nothing More to Add, But When There Is Nothing Left to Take Away"...
Please post your live updates as well buddy. IF it does anywhere as good as the demo you should be fine. Running my demo settings since OCT13 2014 with no intervention its up 5250 pips.
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