alorente wrote:worlock wrote:Hi guys. I have been trying this for a few weeks now, 1st week, it was really great, but I manually exited trades. Then last week I just left it. I am running the latest version, OOTB, and I am offside 260 pips in the Euro, what happened to the stop there?
But I don't really agree on fixed stop. The EA got short the Euro last week, I am still short, and market conditions changed a lot. If the EA was not short, I am sure at some point, it would have looked for longs.
I think the stop should not be fixed, the EA should get you out when market conditions changed, based on same rules as to get in trades. Same goes to Profit taking. This might be quite hard to program, but until then, I don't think this EA could ever be left alone.
But anyway, from what I have seen, this has great potential and thanks for taking the time to put it out.
You have it exactly right. This EA is a great trade entry monitor for many pairs at the same time, which is not easy to do manually. Unfortunately, it is not quite there yet at exit time. The way I see it, exits can be coded in any of these three ways:
1- The EA could exit at s/r 1 or 2, depending on the volatility of each pair in accordance with Bob´s Pair Volatility table or user selectable.
2- The EA could exit at opposite band of H1, H4 or D1 TMA, period 20, ATR multiplier 2.0 (User selectable).
3- Finally, exit can be implemented when H4 20 period Slope value drops under 0.40 for longs and over -0.40 for shorts.
Numbers 2 and 3 would be my preference. I currently exit at cross of opposite H4 or D1 band with my manual system.
Ideally, the ability to select any of the 3 methods would be great, but at least, one of them should be available to seriously consider running the EA live full time.
Gotta go back to page 1 and describe some settings.