Griddy Wotsit Mk 2

[SteveHopwood]

One little correction to the code, nothing to see with this trading method but to have a proper display of the daily P/L (last line of the text displayed on the screen).

at line 1622 (inside CalculateDailyResult() function), I think it would be better to compare the OrderCloseTime to PERIOD_D1 instead of TradingTimeFrame (which is the current time frame of the window).

Thanks Phil. I could see the display was incorrect; just hadn't got around to doing anything about it.

Line 1622 folks, is:
if (OrderCloseTime() < iTime(Symbol(), TradingTimeFrame, 0) ) continue;

It should be:
if (OrderCloseTime() < iTime(Symbol(), PERIOD_D1, 0) ) continue;

[SteveHopwood]

V 1d is in post 1, inspired by Gertje. We have all seen baskets close at +10 pips but substantial cash loss because of all the costs involved in building up the basket.

There is a new input in the Hedging section: HedgeProfitPerTradePips. If > 0, this calculates your HedgeProfitPips input as: HedgeProfitPerTradePips multiplied by the number of open market trades, with a minimum of 10 pips.

So, if there are 10 buys and 5 sells open and HedgeProfitPerTradePips =2, then HedgeProfitPips will be 30. The chart will tell you what profit it is aiming for once a position becomes hedged.

Play with it and see if it has legs.

Also cleared up the daily results calculation thingy.

[Gertje]

Thanks Steve, you're a star!

[Gertje]

Steve,

I had the chance to test it, didn't seem to work as intended.
See attached.

GBPJPYM1.png

I do believe this is the way forward.
I closed the bunch manually for 2% profit.
.

[Gertje]

I just love this EA.
I changed the setfile to close when a basket has TP of $10,- [1% of balance] when using 0.01 lots.
Today 3 basket and some single trades closed in profit on GBPJPY.
Nothing fancy, no secondguessing, just opening orders in the direction of the priceaction.

GBPJPYM5.png

I fired up a FXBlue account to monitor DD, I believe this is a failproof way to trade.
Wonder how it works with some big news


http://www.fxblue.com/users/2038608

[SteveHopwood]

I just love this EA.
I changed the setfile to close when a basket has TP of $10,- [1% of balance] when using 0.01 lots.
Today 3 basket and some single trades closed in profit on GBPJPY.
Nothing fancy, no secondguessing, just opening orders in the direction of the priceaction.


I fired up a FXBlue account to monitor DD, I believe this is a failproof way to trade.
Wonder how it works with some big news


http://www.fxblue.com/users/2038608

I could not do any testing yesterday because of the blocked IP thingy that one of the guys at GP has sorted out. Back up and running today.

I am wondering if the bot should delete pendings when the spread spikes. What do you think?

[Gertje]

I am wondering if the bot should delete pendings when the spread spikes. What do you think?

Depends on the pair in my opinion.
EURUSD or GBPJPY don't spike much.
I quit GBPNZD due to spread spiking to over 50pips, triggering all pending buys in the process....

I changed pipdistance and TP on GBPJPY to '5', being the M1 ATR to avoid gazillions of trades.

Results are VERY pair depending, I started wednesday around noon;
EURUSD: 169pips € 9,43 profit 1.06 lots traded
GBPJPY: 1256pips €76,44 profit 4.68 lots traded

Key is a high volatility pair with low spreads, leaving NZD of the table.

I noticed GP also has some referring companies, offering 1.5pip rebate.
Doing the amount of trading this EA does, it would mount up to 5.74lots x 1.5pips = €8,61 or 10% more profit. Is anybody aware of this? Can SHF become a referring broker?

To answer your question about deleting pendings in case of spread widening?
Don't know yet. In 2 hours we might have the answer after the NFP-dust has settled.
I'll keep spamming this thread with updates.
.

[SteveHopwood]

Oops. Forgot nfp. Just closed my three in-profit EU HGB'nG trades. Thanks for that.

[keydcuk]

This EA "REALLY" excites me! Somehow it just makes total sense to grid a highly volatile pair and trade baskets of $10. After all, a pair only goes in one direction or the other. It's bound to TP in one direction at some point or just float! Seems too simple logic but a stroke of genius maybe overlooked by most? Heh heh.

I really loved Gertje's results on only 2 pairs! Amazing... I'm definitely going to open a new demo account and test this one. Thanks for coding this up Steve!

Daniel

[Gertje]

I'm definitely going to open a new demo account and test this one. Thanks for coding this up Steve!

Daniel

Make sure you open a demo with GP, since they don't charge margin for hedged orders. This results in lower margin overall.
Some other brokers do charge margin for hedged orders, giving you a heartattack with lots of orders open and some DD...