ananthhh wrote:hi steve,
I have just gone through the code...
I like to share my thoughts regarding the code...
If am wrong or misunderstood anywhere, please forgive my innocence and correct me

1.I found that trade is taken when the flying buddha is formed on both higher and lower time frame. But according to the rules in the document, its enough to have flying buddha at higher time frame.

2.For stacking, it is mentioned in the document to use 50% fib levels, but i couldn't find any details for stacking in the code (sorry if it is there and please let me know where it is written).

3.Regarding closure and to detect weakening of trend, we can first test with the method as mentioned in the document (i.e.,) when any candle closes above previous high for sell trades and closes below previous high for buy trades.

4.No. of positions to be closed can be given as user input or we can test with some random numbers like 1/4 positions from bottom and 1/4 positions from top.

Pathumracled wrote:Good day Sir Hopwood (All),
All I can Say are these (1) Finally… with a Smile (2) thanks for the Notifications on important developments, Via PM works marvelously for me! & (3) Thanks for this particular initiative.

Met upon that (Equity Millipede) thread some time now and from June 2011, it gave me the first practical implementation of the adage “Cutting your Losses and allowing your profits to Run” (Graeme/PipEasy, the originator of the thread had seemingly limitless resources so he could afford to see 500+ pips legs die off at break even +pips. That I could not stomach, so for me locking in reasonable profits up to 1.5 x the margined amount on the winning trade was preferred. And, that is one of the beauties of the concept, it can be applied to any Successful Entry method, initially the Flying Buddha(FB) was used on D1, but to my mind it (Equty millipede via Stacking of Winners) can as easily be applied to an MA Crosses, Candle Break-Out or whatever your successful entry method is, just as long as the Entry Quality is High (excellent track record of market agreeing with trade entry, buy or sell 50-60%) and the lot sizes are geared low. So we could in effect use any one of our successful methods here to build an equity Millipede, hence the thought, some time, for the Caterpillar concept to be incorporated in the MPTM (If and when that aspect is added, my thoughts here will be proven…. Patience is essential to Long term Fx Profitability, don’t have any? Buy Some )

etc

Spent Some 2 + weeks reading through the thread before getting some of the key concepts. I share the forgoing so that it may jumpstart someone. It is hoped that we will be able to implement the Concept of “Making Profits Run whilst cutting Losses”, in this automation process thereby having the immense benefits of Building Equity millipedes via trend trading.

Bless! >;<

gaheitman wrote:As I like to say, you can learn from good examples as well as bad, so hopefully this will give you a headstart on the rest of the bot, one way or the other.

George

chonghm wrote:Hello Steve,
Thanks for the prompt action in coding this EA. Please do not confuse this with the equity Millipede system. This is short time trading system. It may last a few hours or at most to a couple of days. Once the signal is exhausted Joe will close all positions for a tidy profit and wait for the next 4hr flying buddha.

The Equity Melipede is long term trading system. Graeme may hold positions up to a couple of years. If I am not mistaken he is still holding on to his sell positions for GbpJpy which he took 2 years ago. He is an excellent trader and he also trades counter positions to freeze his profits when there is a retracement. His exact words is he will never know where the market is heading except anticipate. The retracement may turn up to the new trend for the next couple of years.

Mr.Pathumracled, Please note that in the Equity Milipede system there will not be any drawdown which will blow the acccount. Graeme on going trades are all in profits. He always open postions in th 5 minutes timetrame with a small stoploss. If the trade is stopped out he will look for the next oppotunity. His motto "small stop loss and huge gains". He is not talking about RR1:1. He is talking RR1:100. Its difficult to trade his system because most of us cannot stomach the idea that your 500 pips profit goes may to breakeven.

Cheers,
chonghm

gaheitman wrote:Steve,

I didn't really know where to stick this code. LookForTradeClosure() is about managing TP/SL on individual trades, so I created StrategyLookForTradeClosure(). It is:

Code: Select all

void StrategyLookForTradeClosure() {

   if (OpenTrades == 0) return;
   bool CloseHalf=false;
   
   //check for buys
   if (BuyOpen)
      if (Close[i+1] < Low[PreviousUpBar(i+1)]) CloseHalf=true;
   if (SellOpen)
      if (Close[i+1] > High[PreviousDnBar(i+1)]) CloseHalf=true;
      
   if (CloseHalf) {
      //count the trades
      int cnt = 0;
      int total = OrdersTotal();
      for (i=0;i<total;i++)
         if (OrderSelect(i,SELECT_BY_POS,MODE_TRADES)) {
            if (OrderType() != OP_BUY  && OrderType() != OP_SELL) continue;
            if (OrderMagicNumber() != MagicNumber) continue;
            if (OrderSymbol() != Symbol()) continue;
            cnt++;
         }//if (OrderSelect(i,SELECT_BY_POS,MODE_TRADES))  
     
      //and close half of them
      for (int i=1;i<cnt/2;i++)
         CloseWorstTrade();
   }   
}

Nothing too surprising here. I call these two procedures to get the last Up/Dn bar respectively.

Code: Select all

int PreviousUpBar(int i) {
   i++;
   while(Close[i]<=Open[i]) i++;
   return(i);
}

int PreviousDnBar(int i) {
   i++;
   while(Close[i]>=Open[i]) i++;
   return(i);
}

Finally, the code to close the "worst" open trade. This is likely equivalent to closing the last trade, but just in case....

Code: Select all

void CloseWorstTrade() {

//find worst performing trade
      int total = OrdersTotal();
      int worst = 0;
      double worst_profit = 10000000;
      for (i=0;i<total;i++)
         if (OrderSelect(i,SELECT_BY_POS,MODE_TRADES)) {
            if (OrderType() != OP_BUY  && OrderType() != OP_SELL) continue;
            if (OrderMagicNumber() != MagicNumber) continue;
            if (OrderSymbol() != Symbol()) continue;
            if (OrderProfit()< worst_profit) {
               worst = OrderTicket();
               worst_profit = OrderProfit();
            }//if (OrderProfit()< worst_profit) 
         }//if (OrderSelect(i,SELECT_BY_POS,MODE_TRADES)) 

//close worst trade
      bool result = CloseTrade(worst);
      //Actions when trade close succeeds
      if (result)
      {
         DeletePendingPriceLines();
         TicketNo = -1;//TicketNo is the most recently trade opened, so this might need editing in a multi-trade EA
         OpenTrades--;//Rather than OpenTrades = 0 to cater for multi-trade EA's
      }//if (result)
}

The close part of the code was lifted from LookForTradeClosure(). I agree with your TicketNo comment, but not sure what to do about it here.

As I like to say, you can learn from good examples as well as bad, so hopefully this will give you a headstart on the rest of the bot, one way or the other.

George

datetime       LastBar;//for testing for a new Bar

bool newbar()
{
if (Time[0] > LastBar) 
{
LastBar = Time[0];
return(True);
}
return(False);
}

//+------------------------------------------------------------------+
//| expert start function                                            |
//+------------------------------------------------------------------+
int start()
{
//----
   //Look for trade cloures at beginning of bar only
   if(newbar())
   {
   StrategyLookForTradeClosure();
   }

andydoc wrote:Just saw your post about adding the stacking back in duh! lol.
In terms of which trades to close, on the 50% cull on momentum weakening, it is sensible to close the best trades. My reasoning for this is that there is no methodology for either moving the stoploss to better than BE, nor for closing the remaining 50% on a reversal. The rules suggest that we would therefore close successive 50%s on Up candles, until either we had one left - which would close, or all BE SLs had been exhausted. This would therefore mean if we closed the best trades we would leave less on the table to give back.