MD took a bath last week. Newcomers will be wondering what the fuss is about.
The least bad was a stop order at 20 pips. 10 pips was murdered.
I received this in an email from youcrazykids:
I’ve been watching Moving Day and its variants of late, and had some tentative thoughts on how to improve performance. Because one-third of trades are winners and two-thirds are losers, it follows that the winners should be milked for all they’re worth, and the losers should be curtailed as far as possible: 1) Scaling out could help to reduce the losses caused by losing trades, 2) When trades do head in the right direction, stacking trades in a grid (or a rolling grid) could really turbocharge the profits of these winning trades.
All this is in 1d - post 1 as usual. Scaling out is in the trade exits inputs and works as in Desky and SPCB.
There is a new input for grid trading: PendingDistanceToFirstTradePips. This is for when the first trade is a stop order and tells MD how far away from market to set the fill price. Assuming the initial trade has a take profit set, the the additional stop orders will have the same tp. All trades in the position will close at the same time.
I am going to set this up on the three demos I list in post 2. PendingDistanceToFirstTradePips will be set to 10, 15, 20 respectively. I have added a set file to post 1 to help you set up quickly and easily - "MD scale out and grid.set". This starts the grid 20 pips away from the market price, then sends four more grid trades 20 pips apart. The take profit is 100 pips and the dire emergency stop loss is 300 pips.
You can experiment with a far distant take profit, grid size, rolling grid etc. It is all in the user guide but you do not need this if you are already familiar with these functions.
Don't try to DIY unless you are
very confident. Adding code like this causes me to examine existing code and I could not see how the hidden stop loss and take profit code could work properly so I made a lot of changes there, including adding Global Variables to store the hidden stops. I also spotted a couple of horrendous bloops in the sell grid order sending; I had an immediate market order set to send a buy trade instead of a sell - one of my infamous copy/paste/forgot-to-edit bloops.
There could be bugs, so sing out if you notice anything strange.
Read the effing manual, ok?
Afterprime is the official SHF broker. Read about them at https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?p=175790#p175790.
I still suffer from OCCD. Good thing, really.
Anyone here feeling generous? My paypal account is always in the market for a tiny donation.
[email protected] is the account.
To see The Weekly Roundup of stuff you guys might have missed
Click here
My special thanks to Thomas (tomele) for all the incredible work he does here.