Pipcruiser's Pipmasher

[gringoh]

Hi Matt,

This is what I am testing also. I have developed a Pipcruiser dashboard which can be found in this thread:

http://www.stevehopwoodforex.com/phpBB3 ... m.php?f=89

I have a test which mimics the standard PP and another one which is using multiple pending trades order. Results with Multiple pending trades are really impressive. It is too early for me to give any conclusion but I will continue testing this idea. I am still in the first testing step. Once done, I have other ideas with multiple pending trades to increase green pips with minimal risk.

I have also coded a simple indicator which draw PP signals on the chart for the current week.

I really like this PP.

Cheers,
G

[matt_32]

Hi Matt,
That does sound like a good idea. Do you use one of the scripts from HGI for setting pending orders? Do you use JS with this?

I am looking for a script that would allow me to insert the start and finish price and then the script would populate the gap in between. At the moment I am using Steve's scripts for multiple RAD orders (HGI thread) and just delete the pendings orders that don't fit with my strategy.

Matt

[matt_32]

Hi Matt

Great idea - but why not leave the first trade alone - that will capture the buggest move on the original PM trade (whatever your settings for that were i.e. TP 3xATR; SL 150; JS50 etc). Then the pendings are incremental bonus for each one reached and closed. The only issue would be retraces - these could hit multiple 20 pip trades depending on your SL for these?.

Doc

That's exactly what I meant. You should leave the first one with no TP.
My bad if I did not make it clear enough.

Thanks
Matt

[KingOfCoolville]

Hi all,

I've been using Pipmasher (PM) for a while now with extremely positive results. In my quest to try and improve PM (a very difficult task, since it is already a killer strategy) I've developed a new version (ie Gama version) that can generate a lot more cash than PM. Now this method is basically PM coupled with multiple pending orders, like the ones that Bob uses in HGI.
The idea here is that instead of placing just one pending order under the last daily candle, we place a series of pending orders 20 or so pips apart from each other with a TP of 20 or 30 pips. The number of pendings depends on my TP. Mostly a SL of 1x Daily ATR and a TP of 3 x Daily ATR, so If my TP is 300 pips away from my entry then I would place 15 pending orders 20 pips apart from each other, and each one with a TP of 20 or 30 pips
In order to maximize my profits I use the idea of letting my profits run by removing the TP on the first pending in the series. This leaves me with only one open order (after all the other pending’s have hit TP) that closes last thus maximizing profits.
If the daily candle gives us another entry opportunity we delete all pendings left on the table and repeat the same process by placing new pendings up to our new TP. The open trades that are still active are left on the table.
At the end of the week I go through the charts and decide which trades to keep and which trades to close. I usually close all trades that are in a retrace and hope to catch them again next week.

Hope you enjoy it
Matt
:hi: :youknow:

Matt,

Do you set the SL and TP's yourself? As I don't see any options in the EA to set ATR SL's or TP's.

Also what would be the benefit of your approach over just increasing your lot size?
If the trade triggered then went straight against you, you would be increasing your loses - but in your scenario, if your additional pending triggered then went against you in a retrace and stopped out you would also be increasing your loses. Not sure if one approach has much advantage over the other?

I have only started using the bot this week, so early days (I know you have much more experience with this system) - already successful, especially today. Seems to me that the strength of the strategy is in it's simplicity. Whenever you try and introduce 'more reward' it comes with 'more risk' - I think I will just increase my lot size if the account continues to grow (fingers crossed).

Just thinking out loud.

Cheers

[matt_32]

Matt,

Do you set the SL and TP's yourself? As I don't see any options in the EA to set ATR SL's or TP's.

Also what would be the benefit of your approach over just increasing your lot size?
If the trade triggered then went straight against you, you would be increasing your loses - but in your scenario, if your additional pending triggered then went against you in a retrace and stopped out you would also be increasing your loses. Not sure if one approach has much advantage over the other?

I have only started using the bot this week, so early days (I know you have much more experience with this system) - already successful, especially today. Seems to me that the strength of the strategy is in it's simplicity. Whenever you try and introduce 'more reward' it comes with 'more risk' - I think I will just increase my lot size if the account continues to grow (fingers crossed).

Just thinking out loud.

Cheers

My TP is 3*Daily ATR..

Loosing is part of the game.

If you use TP 20 and place pendings every 20 pips then you only have 1 multiple trade open (plus the first one in the series with no TP ) If you use TP @ 30 pips then you are left with 2 open orders + the first one.
The way I see it is this... Instead of placing a 0.03 single order, use 0.01 lots and let the system roll. It is effectively the same, and you might end up saving some money if things go against you. Risk is something that you should always manage the best way you can. This is how I do it !

Matt

[Gertje]

Who needs improvements?


Beside PPM, I re-enter with pendings at the high/ low of a candle after a stopout when trade still looks good. Seeing that it again gives a 100 SL, it might be better to use a 100 JS instead of 50 JS.

Results attached.

PPM.png

.

[pipcruiser]

Who needs improvements?


Beside PPM, I re-enter with pendings at the high/ low of a candle after a stopout when trade still looks good. Seeing that it again gives a 100 SL, it might be better to use a 100 JS instead of 50 JS.

Results attached.


.

Fantastic Gertje

PC

[Gertje]

Fantastic Gertje

PC

Thank YOU, for the great system. I just use it....

[Lee]

Who needs improvements?


Beside PPM, I re-enter with pendings at the high/ low of a candle after a stopout when trade still looks good. Seeing that it again gives a 100 SL, it might be better to use a 100 JS instead of 50 JS.

Results attached.


.

I concur with everyone on the system and it's performance; thanks PC for sharing.

I also like Gertje's idea of placing another pending order after stoploss is hit. Thanks for that!

Lee

[xfactornos]

I need to convert my tests over to the new bot. The results should be the same though right?

I think ill keep my old bot running and start a new one with the same settings to see if they act the same.

BTW. The FinFx bot is doing amazing so far.