Vlokkies » Fri Dec 05, 2014 10:15 am wrote:

pips400 » Thu Dec 04, 2014 8:17 pm wrote:Thanks PC, I'll give that a try. I've noticed a key element (as with all systems) is knowing when to close out the profits.

I completely agree with this. It's one of the areas I have the most difficulty with.
I haven't mastered my fear yet and subsequently run through the same old questions again and again. "Should I take my profits before they disappear?" "should I cut my losses before they get bigger?" "am I taking profit to soon and not giving it room to run?" "will this losing trade turn around if I try not to panic and give it time?"
You get the idea.

I'm currently sitting with ~650 pips floating in the green and am considering closing out just before nfp to lock in the profit.
How do the more experienced traders handle it? Do you close out? And if so, how long before the news hits? Do you use a tighter stop? Or do you just ride it out and see what happens?

spotdespot » Fri Dec 05, 2014 1:03 pm wrote:My view on this is would be similar to pips400. You have to make a clear choice as to how you run this EA imo. You either run it as a weekly trader and bank the profits at some point during the week when you think you might have reached max equity, in which case then not banking before NFP Is pure gambling.

OR you run it as a long term trader rolling the green over and manually adjusting SL etc. This is the route I have chosen and it's doing well BUT that certainly doesn't mean it's the best route. In this case then I will check trades prior to NFP (at some point this morning GMT) and close anything that is at imminent risk of being taken out by a big spike, but I will leave the majority of trades in place. I have 2000 or so pips floating and seem to maintain around this level most of the time, even when things have been flat the previous 2 weeks or so (prior to his week). I am looking at the longer term view and NFP really has little impact at that level.

If NFP is a huge shocker, one way or another, and is the start of a trend change then I will have to rethink.

Cheers,
Dave.

pipcruiser » Fri Dec 05, 2014 12:18 pm wrote:
Or just run it totally hands-off with a 50 pip jumping stop.....http://www.myfxbook.com/members/xfactor ... 32/1044669



PC

spotdespot » Fri Dec 05, 2014 1:26 pm wrote:

pipcruiser » Fri Dec 05, 2014 12:18 pm wrote:
Or just run it totally hands-off with a 50 pip jumping stop.....http://www.myfxbook.com/members/xfactor ... 32/1044669



PC

Mmmmm.... that would do!!

And would make things simpler.... So you have no TP etc just let the trades take themselves out?

Gotta love this EA.



Cheers,
Dave.

pipcruiser » Fri Dec 05, 2014 12:35 pm wrote:
The demo is run by xfactornos, look back in the thread, its all here....

Choose a jumping stop (ie. 50) a SL (ie. 100) and a TP (ie. 500) and dont touch it.

Pipmasher is made for catching a good long confirmed trend, with as little hands-on as possible.

The markets have been good to the EA so far, lets see if we get 3 months of chop, surely it will be less good, but time will tell if this one is a keeper

PC

PS: Please don't PM me more for settings, its all here guys....

KapguHaJI » Wed Nov 26, 2014 9:53 am wrote: Also I doubt that anybody here has sunday candles at all, but if you do, you should go to line 3690 and replace this

Code: Select all

   if (BrokerHasSundayCandle)
      if (TradingTF == PERIOD_D1)
         shift = 2;

with this

Code: Select all

   if (BrokerHasSundayCandle)
      if (TradingTF == PERIOD_D1)
         if(TimeDayOfWeek(iTime(NULL,PERIOD_D1,0))==1)
            shift = 2;

Cheers.