Once a Month EA

[SpiderX]

Hi,

A possible idea you could play with:
1. reduce the size of the initial order
then
2. stack trades when price goes in your favor eg every +20 pips

In that manner, if price reverses after entry, the loss is limited. However, upside is increased with the stacking.

cheers

[SteveHopwood]

Hi,

A possible idea you could play with:
1. reduce the size of the initial order
then
2. stack trades when price goes in your favor eg every +20 pips

In that manner, if price reverses after entry, the loss is limited. However, upside is increased with the stacking.

cheers

I like that idea and will look at adding stacking code - shouldn't be difficult.

[Raj4x]

Great thread. And looks like a great system.
Thanks Bob and Steve for putting this together and sharing with us.

Will start testing this and report my findings in this thread. Will start with following settings (after bit of testing on my broker):

DayOfMonthStart = 18
TakeProfitMultPerc = 33
SendTradesDay = 18
CloseTradesDay = 20

So the action will kick off in a few days...

[currymonster]

Working great Steve, have two instances of the ea and two instances of mptm on a global prime demo. Working like a dream, cmptm closed early today, appears to have closed at 85 pips instead of 850, so I've swapped to dollar profit to close on, but impressive. Stacking sounds very ingenious too

Cheers,

Cal

[SteveHopwood]

Just to let you guys know that I will not be sending my second basket of trades this month. No reason for you not to if you want to, but August tends to be a low-volatility month and I see no point in risking my hard built profits. A lot of retail forex traders have already knocked off for the month, and did so a while ago.

Also, the remains of my D7 basket are about 450 pips into the red. As it happens, I have been working on an EA that I plan releasing over the weekend. This determines the overall trend direction using Bob's H4 240 moving average, then rising/falling fractals on a lower time frame to get into a trade.

This, so far highly successful, EA has been taking trades in the opposite direction to the big losers taken by OAM. This suggests to me that taking trades against the H4 240 (i.e. Mn1 period 2) MA is fighting the trend and is an exercise in futility. I am going to add this filter to OAM in time for my next basket on the 7th trading day of September.

Incidentally guys, I have changed my mind about stacking. OAM is a simple but dedicated EA. Adding stacking will cause complications that I am not keen to do battle with for now. I will keep this in mind and add it in the future if I ever work out how to do so without buggering up the basics.

[SpiderX]

Hi Steve,

The simplest way that i can propose is to do it via pending orders.

Possible variables:

Code: Select all

extern int MaxStackTrades = 5;
extern double pipDistancePerStack =10;
extern double lotPerStack  = 0.05;

In the trading code, create pending orders for the stack trades based on the parameters.
Then when basket is closed, all pendings must be deleted.

Cheers

[rapple]

Just to let you guys know that I will not be sending my second basket of trades this month. No reason for you not to if you want to, but August tends to be a low-volatility month and I see no point in risking my hard built profits. A lot of retail forex traders have already knocked off for the month, and did so a while ago.

Also, the remains of my D7 basket are about 450 pips into the red. As it happens, I have been working on an EA that I plan releasing over the weekend. This determines the overall trend direction using Bob's H4 240 moving average, then rising/falling fractals on a lower time frame to get into a trade.

This, so far highly successful, EA has been taking trades in the opposite direction to the big losers taken by OAM. This suggests to me that taking trades against the H4 240 (i.e. Mn1 period 2) MA is fighting the trend and is an exercise in futility. I am going to add this filter to OAM in time for my next basket on the 7th trading day of September.

Incidentally guys, I have changed my mind about stacking. OAM is a simple but dedicated EA. Adding stacking will cause complications that I am not keen to do battle with for now. I will keep this in mind and add it in the future if I ever work out how to do so without buggering up the basics.

Hi Steve

Looking forward to this next iteration. I have really struggled with OAM with each month finishing in the red (demo only).

I really appreciate all the time and effort you put into this forum.

[SteveHopwood]

Hi Steve,

The simplest way that i can propose is to do it via pending orders.

Possible variables:

Code: Select all

extern int MaxStackTrades = 5;
extern double pipDistancePerStack =10;
extern double lotPerStack  = 0.05;

In the trading code, create pending orders for the stack trades based on the parameters.
Then when basket is closed, all pendings must be deleted.

Cheers

Chhers spi. I should have thought of that myself. Maybe I would have eventually, but we both know it is better just to beat me over the head with simple things.

[SpiderX]

Chhers spi. I should have thought of that myself. Maybe I would have eventually, but we both know it is better just to beat me over the head with simple things.

Hi Steve


As an additional note, this feature can be optional, so by setting MaxStackTrades =0 ,everyone can use back the original EA.

Cheers

[crashout]

Hello all,

A small update of the results :

Open day trades : 15
TP : 33 %

On a demo of Alpari UK.

All open trades, the results in the column are in pips.

We have one near TP.

We are globally up to + 310 pips.

We'll see next week but very nice