Gday Mark 2

[SteveHopwood]

My EURUSD Buy trade has exceeded the 50 pip target but the EA has not closed the 1/3 ?

But i have now done so manually.

Sometimes a stop loss mod and a part close in rapid succession causes a trade context error. I will have a look and see if I can add code to force a close if the order lot size = Lot and the stop is at BE.

V 1b is in post 1. I have tried to add code that will deal with this situation. It is all a bit messy, so perhaps someone can see a tidier way of doing this?

The code is in void CountOpenTrades()

Code: Select all

      //Profitable trade management
      if (OrderProfit() > 0 && !TradeWasClosed) 
      {
         double PartLot = Lot / 3;
         if (OrderLots() > PartLot && EnablePartClosure)
         {
            TradeManagementModule();//This will move the stop to BE come what may
            //pp = pips profit
            double pp = CalculateTradeProfitInPips(OrderType() );
            if (pp >= BreakEvenPips && pp < (JumpingStopPips * 2) && OrderLots() == Lot) PartCloseThisTrade();
            if (pp >= (JumpingStopPips * 2) && OrderLots() > PartLot) PartCloseThisTrade();
             
            //This snippet is to take care of the situation where the stop has been moved to BE but the part-close failed. Then the market retraced, so the part-close was not attempted again.
            if (OrderType() == OP_BUY && OrderStopLoss() >= OrderOpenPrice() && OrderLots() == Lot)
            {
               PartCloseThisTrade();
            }//if (OrderType() == OP_BUY)
             
            if (OrderType() == OP_SELL && OrderStopLoss() <= OrderOpenPrice() && OrderLots() == Lot)
            {
               PartCloseThisTrade();
            }//if (OrderType() == OP_SELL)
          
             //This snippet is to take care of the same situation but following the first jumping stop, when the second third of the trade should have   closed. This is all a bit messy, so if someone can see a better way of coding all this, then please do sing out.
            if (OrderType() == OP_BUY && OrderStopLoss() >= OrderOpenPrice() + (BreakEvenProfit / factor) + JumpingStopPips && OrderLots() > PartLot)
            {
               PartCloseThisTrade();
            }//if (OrderType() == OP_BUY && OrderStopLoss() >= OrderOpenPrice() 
            
            if (OrderType() == OP_SELL && OrderStopLoss() >= OrderOpenPrice() - (BreakEvenProfit / factor) - JumpingStopPips && OrderLots() > PartLot)
            {
               PartCloseThisTrade();
            }//if (OrderType() == OP_BUY && OrderStopLoss() >= OrderOpenPrice() 
         }//if (OrderLots() > PartLot && EnablePartClosure)  
         else TradeManagementModule();//This deals with subsequent jumping/trailing stops once part-close has already taken place
      }//if (OrderProfit() > 0 && !TradeWasClosed) 

[fxozgirl]

I've just made an adjustment to my demo settings I started yesterday...changed ShortTradeTrigger to 75 & LongTradeTrigger to 25

also set up 2 new demo's using candlestick trailing stop & regular trailing stop 75/25 Trade Trigger's

Will set up myfxbook for all 3 demo's later today

[SteveHopwood]

I've just made an adjustment to my demo settings I started yesterday...changed ShortTradeTrigger to 75 & LongTradeTrigger to 25

also set up 2 new demo's using candlestick trailing stop & regular trailing stop 75/25 Trade Trigger's

Will set up myfxbook for all 3 demo's later today

I had a thought earlier. Would you like the option to close, say, a buy when Stoch next goes overbought?

[cosmo]

Steve, thanks for making the changes and thanks to all you guys for your ongoing development of this method.
I really believe now that long term success in forex lies in trading only the long time frames, daily and weekly (wish I could go back 3 years). Just looking at other methods, most people are trying to trade 'the noise'. If I was investing $100,000 would I feel more confident trading the 30 minute or Daily or Weekly?

[SteveHopwood]

Steve, thanks for making the changes and thanks to all you guys for your ongoing development of this method.
I really believe now that long term success in forex lies in trading only the long time frames, daily and weekly (wish I could go back 3 years). Just looking at other methods, most people are trying to trade 'the noise'. If I was investing $100,000 would I feel more confident trading the 30 minute or Daily or Weekly?

Quite right too, although I am not sure where the 30 minute tf came in - a typo perhaps? The longer term time frames are no use to someone with a tiny account. My live trading account has just shy of $500 in it. A long-term trading system that takes 12 months to make 10% is going to get me nowhere.

If my account holds $10,000,000, then a trading system that takes 12 months to make 10% is making me a lot of money.

Equally, if I have a $1,000,000 account, then a scalping system that makes me a proportional 5 pips a day will make silly amounts of money.

The same system makes bugger all on my $500 account. For a while, anyhow.

What time scale we trade depends on how much we have in the account. Ok, so I do trade the H4 time frame, but only as a scalper. 20 pips and I am a happy man. My richer D1 traders can stand a dd of 1,000 pips waiting for their MN1 500 lot trade to turn around over a two year period; I cannot. I just hop onto the back of their retraces.

[cosmo]

Steve, thanks for making the changes and thanks to all you guys for your ongoing development of this method.
I really believe now that long term success in forex lies in trading only the long time frames, daily and weekly (wish I could go back 3 years). Just looking at other methods, most people are trying to trade 'the noise'. If I was investing $100,000 would I feel more confident trading the 30 minute or Daily or Weekly?

Quite right too, although I am not sure where the 30 minute tf came in - a typo perhaps? The longer term time frames are no use to someone with a tiny account. My live trading account has just shy of $500 in it. A long-term trading system that takes 12 months to make 10% is going to get me nowhere.

If my account holds $10,000,000, then a trading system that takes 12 months to make 10% is making me a lot of money.

Equally, if I have a $1,000,000 account, then a scalping system that makes me a proportional 5 pips a day will make silly amounts of money.

The same system makes bugger all on my $500 account. For a while, anyhow.

What time scale we trade depends on how much we have in the account. Ok, so I do trade the H4 time frame, but only as a scalper. 20 pips and I am a happy man. My richer D1 traders can stand a dd of 1,000 pips waiting for their MN1 500 lot trade to turn around over a two year period; I cannot. I just hop onto the back of their retraces.

That's true a $500 account will not withstand a serious drawdown, I have traded the 1 minute with 25% of my account on each trade (just for fun) using the OS/OB levels of the Stoch. and Hi Lo indicator and just taking 3 to 5 pips.... Never had a losing trade, the market always ranged up and down especially during Asian session.

[SteveHopwood]

That's true a $500 account will not withstand a serious drawdown,

Actually, it will stand a 90% dd that recovers in exactly the same way that a $10,000,000 account will. The difference is in the colour of the trousers worn by the trader.

Ok, so slightly frivolous but the point I am making is this: I can stand the loss of my $500 account should it come to that (and it won't because I have learned a bit about trading in the last 6 years). I could not stand the loss of my $100,000 account. Unless I were a trillionaire.

Notice how I have gone from a $10,000,000 account to a $100,000 account? That is because I can dimly begin to imagine building the latter, whilst the former merely beggars imagination. Mine, anyhow.

I have traded the 1 minute with 25% of my account on each trade (just for fun) using the OS/OB levels of the Stoch. and Hi Lo indicator and just taking 3 to 5 pips.... Never had a losing trade, the market always ranged up and down especially during Asian session.

Doesn't take long to build an account at that level of success. Light-heartedly, I wonder at which point it would cease being 'fun'. I am a gambler at heart, and wonder at which point I would say, "Stop now. You have xxxtupled your stake, so go home."

No idea, but it might be fun to find out one day. Some day, I shall put $100 into an account and trade/gamble a ludicrous risk factor just to see how far I can get. A fiver says I wimp out if I get to $100,000.

[lvdfx888]

Hi Steve,

Thanks for the new version. Did a quick back test on v1b, the number lots of Open and Close do not tally:

Strategy Tester.JPG

I've just made an adjustment to my demo settings I started yesterday...changed ShortTradeTrigger to 75 & LongTradeTrigger to 25

also set up 2 new demo's using candlestick trailing stop & regular trailing stop 75/25 Trade Trigger's

Will set up myfxbook for all 3 demo's later today

Hi Shelley,

Do you need to change OverBought & OverSold as well ?

Ron.

[forex.rapheal]

Hi all,
Anyone can backtest the EA and have the report for all fx pairs?

[itsaquestion]

Hi steve! Thanks for this EA. I just did some backtest , but the result is not so good, could you post your set file? Or you just use OOTB?