Holy Graily Bob 'n Dotty 'n Super Slope 'n Flying Buddha

[Wavegarrick]

Thanks! I'll keep you appraised on how the live account goes. One of the considerations is that AUD traded a lot in the last half of the month, at one point making up five out of eleven trades. If some big event happens and AUD takes off in the opposite direction, there's a 1,400 pip loss (two of the pairs had two trades open each).

I could keep risk (and possibly profit) lower by using the EA feature to only trade a currency twice. I'll give that some thought too. I still haven't looked at the possibility of using a SL more customized to each pair. Lots to chew on, which is what makes it fun!

Cosybooks,

If I had to pick a trader of the week, it would have to be you.

Well done Buddy

You have my attention.

Cheers
Leon

[cozybooks]

Leon,

That means a lot coming from you. This Forum begins with Steve, and branches out from there with so much talent that it is breathtaking. It's not just that it continues with Bob, Captain Jack, all of the expert coders and all of the much smarter minds out there than mine, and that I'm afraid to mention anyone else by name for fear of leaving someone out. It's that the generosity of everyone involved knows no bounds.

When I found Steve's forum (through some other site's reference to Bob's 10.2 system), I was ready to give up trading. It had taken me only one year to lose 75% of the money I had invested. The first thing I learned here was perseverance. The second thing I learned was what lot size I should be trading (big surprise there! I learn more from all of you every day. As a newby trader, you really have no idea how little you know until you find Steve's forum.

It could be that my live No Grid HGBDSSFB will flame out, but it won't be for lack of trying. It's all TJF's ideas, so if it works, the credit should certainly go to him, and to Steve for all of the coding. By going live, I'll be certain to pay more attention to the actual trades being opened. It's funny, but if I'm risking even one U.S. (losing more of its value every day) dollar, I'll pay close attention to the account, so this strategy has earned the next three months in its own little account to see what it can do.

As always, thanks to everyone, and Happy Trading!

[cozybooks]

Don't bother. I will do it in time for markets opening over the weekend - it will take me 2 minutes. It needs one boolean, say AllowTradingOutsideTheMiddle (i.e. top and bottom sixths) and a look at the trade signal detecting code.

Nice one and that means if we used two EAs per pair we could have one strategy for trading the middle where we know a hard SL and jump works well, and a different strategy for trading the extremes where perhaps recovery and basket close works better.

TJF, that makes a lot of sense. Steve mentions in Peaky that when you are trading in the high and low Sixths areas, a SL is very often a killer. If you are trading within a range, however, you probably want to bail as soon as price leaves the range area. I've been looking over those AUD charts from the last part of June, and I'm thinking that on the live version, if I am only entering trades in the middle, I'll set the SL so that a long trade closes when price moves below the middle, and a short trade closes when price moves above the middle.

The opportunity for the live version to make good money will happen when you catch one of the big runs, where a trade opens in the middle, and then price rockets in your favor (because, after all, what else would it do???...) way past the middle zone.

[Wavegarrick]

Cozybooks,

Yup, of course Steve is our old stalwart and he is the Maestro. I am happy to see that he is bringing back old traders that I used to look at in awe in my earlier days at SHF and nice to see them back . A testimonial of good things happening here right now :youknow:
TJF is simply outstanding and he brings alot to the table, things I never used to see before.

Whichever way, we are heading in the right direction and I am happy to see you coming to the fore.

Thumbs up for the new week.

Cheers
Leon

[TraderJoeForex]

I'm thinking that on the live version, if I am only entering trades in the middle, I'll set the SL so that a long trade closes when price moves below the middle, and a short trade closes when price moves above the middle.

Be careful with this... A mistake I have made many times is to take something that has been working consistently on demo and then make a small "improvement" before going live and then watch my money dissappear.

Try your improvement on demo first and compare with the original. If it works better then make the change on live. Never go live with something that is untested on demo for at least a month, ideally much longer. Even if it seems an obvious improvement

Personally I have never had good experiences from tight SL and 200 on H1 is about the minimum that seems to give a reasonable balance on the major pairs between preventing big losses and allowing sufficient room to breathe. Forget what people say about needing a higher return per risk. With accurate entries often an initial SL 10 x average profit actually works well.. with a BE and JS once in profit.

Superslope is the reason that trades in the middle work well.. And FB give the accurate entries. You are buying or selling the pullbacks in an established daily direction.

At extremes Superslope is less effective because the daily direction is uncertain. Will price break out or retrace? Superslope can't predict this, nor can any indicator.

So for the outer Sixths the choice is to trade Peaky and aim for the best entry or trade HGBnSSnFB and accept a delayed entry. Only time will tell which is more accurate and its great that we will be able to separate HGBnSSnFB into middle and extremes to help this testing.

[cozybooks]

LOL, TJF, I am bowing down before your words of wisdom. Thanks for the excellent advice and analysis!

[SteveHopwood]

V 1e is in post 1. The new input is OnlyTradeTheMiddle; this will turn off trading from the outer sixths if it is enabled.

DIYers, do a search for "extern bool AllowTradingInTheMiddle=" and insert this underneath:

Code: Select all

//cozybooks wants to experiment with only trading in the middle
extern bool    OnlyTradeTheMiddle=false;

Then go to OnTick() and copy this over the top of the existing code block:

Code: Select all

   //Sixths
   if (UseSixths)
   {
      //Allow trading both ways if required
      if (SixthsStatus == untradable)
         if (AllowTradingInTheMiddle)
            SixthsStatus = tradableboth;   
            
      //Disable trading from the outer sixths
      if (OnlyTradeTheMiddle)
         if (SixthsStatus == tradablelong || SixthsStatus == tradableshort)
            SixthsStatus = untradable;
            
   }//if (UseSixths)
   

Here is a tip for codeslingers that I learned from Rene a few weeks ago. Compile the file and follow the "Possible loss of data" warning - there should be two of them, both in the core library. The first line that generates the warning is:
style = ObjectGet(TradeLine3Name, OBJPROP_STYLE);

Replace it with this:

style = (int)ObjectGet(TradeLine3Name, OBJPROP_STYLE);

and the warning disappears. Neat.

[cozybooks]

Steve,

Thanks so much for this! Having recovered from my early morning temporary insanity from a knock on the head from TraderJoeForex, I am ready to go.

[SteveHopwood]

Steve,

Thanks so much for this! Having recovered from my early morning temporary insanity from a knock on the head from TraderJoeForex, I am ready to go.

Sing out if you need further modifications.

[TraderJoeForex]

The other thing I am thinking here, now that we have Peaky, is using HGBnDnSSnFB as a kind of hedge. So disabling Sixths and Buy Low Sell High and just trading FB in direction of SuperSlope.

The weakness here then is at the extremes when Superslope gets caught out by a retrace but then Peaky will be banking pips and if Peaky is going into recovery then HGBnDnSSnFB will be banking pips.

The settings allow all this already so will try both head to head on H1 and see what happens. It could be the perfect marriage?