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Scalp the Little Gits, ds with automated WmiVol
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=3726		 Page 6 of 7
Author:  dsugums [ Mon Aug 11, 2014 11:38 pm ]
Post subject:  Scalp the Little Gits, ds with automated WmiVol
SteveHopwood » Mon Aug 11, 2014 10:18 pm wrote:
dsugums » Mon Aug 11, 2014 10:11 am wrote:Hi Steve

Can you please modify the code to include trading hours on this version? Sometimes not taking trades at certain time or even delay the bot from trading will be great feature even though the WMI screaming to take trades :smile:

Thanks in advance

Cheers

:xm:
Done. V 1b in post 1. Inputs under the Eye Candy section.

:xm:
Thanks Steve :good:

Cheers
:xm:
Author:  nonlinear [ Fri Aug 15, 2014 6:18 pm ]
Post subject:  Scalp the Little Gits, ds with automated WmiVol
Not a great week with wmivol:

Broker 1: 2 wins, 5 losses
Broker 2: 2 wins, 10 losses

I am wondering if this system might benefit from an ATR filter to prevent trading during periods of low volatility. Have to look at this further.
Author:  nonlinear [ Wed Aug 20, 2014 10:13 pm ]
Post subject:  Scalp the Little Gits, ds with automated WmiVol
Well, if this bot is going in another direction, and after watching it a few weeks, here is one thought and apologies is this is too far off topic here:

Keep wmi, scrap stochs, scrap the original direction rules, scrap the 00 levels, scrap any other indicators and filters. Basically lets trade the wmi breakout gits whichever way price goes on the hourly. I don't know if price is going up or down, but I do know that when volume kicks in, price typically moves somewhere; not always, but more often than not. If that happens to include a 00 level, great! :D

Make a price box for the consecutive red wmi bars that are at least X hours long. Place a pending buy Y pips above the box and pending sell Y pips below the box only during during the green wmi hours that are at least Z green hours long and that immediately follow the X hours long consecutive red wmi bars). Close the other pending when the first hits (if you want to leave it open go ahead, but generally doesn't look good to do so). The stop is the larger of (i) the spread + W pips or (ii) the number of pips to the opposite side of the box. The TP is the same number of pips as the SL (plus the spread if you want). Close any pending and any open trades that have not hit TP or SL when wmi turns green. % of account per trade. That's it, nothing else.

This looks like it works best with the USD/European pairs. Its basically a variant of the london breakout, or whatever one wants to call it. From what I am seeing, depending on the pair, you will see something like 50% winners, 30% losers, and the reminder a combination of slight winners or slight losers. That just might have a slight edge (tough to say, depends on broker).
Author:  rapple [ Thu Aug 21, 2014 5:02 am ]
Post subject:  Scalp the Little Gits, ds with automated WmiVol
Hi non-linear

I am running this EA on EJ, EU, GJ, GU, AJ, AU

TP=5
SL=10

This week I have had 6 wins and 1 loss so far.....
Author:  nonlinear [ Thu Aug 21, 2014 2:32 pm ]
Post subject:  Scalp the Little Gits, ds with automated WmiVol
That risk reward is difficult to trade for me. At 0.5, its actually quite less when you factor in spreads, so you have to maintain a high win rate to succeed, and when you hit that run of consecutive losers, it gets emotionally difficult to keep at it. I have been trying to see if I can get away with a 1:1 risk reward, but it is not working out it seems. The reality is that the win rate and risk reward likely should be adjusted for each pair every week (sometimes shoot for a higher win rate (75%) at a lower risk reward (e.g. 0.7), other times shoot for a higher risk reward (e.g., 1.5) at a lower win rate (45%). Much easier to type than it is to implement, of course. :arrrg: In any event, please keep us informed if that risk reward ratio works out; its good for everyone to test different settings. What I am seeing though is that the TP and SL should be variable (not fixed), regardless of what risk reward you are shooting for.
Author:  rapple [ Thu Aug 21, 2014 10:35 pm ]
Post subject:  Scalp the Little Gits, ds with automated WmiVol
nonlinear » Fri Aug 22, 2014 12:32 am wrote:That risk reward is difficult to trade for me. At 0.5, its actually quite less when you factor in spreads, so you have to maintain a high win rate to succeed, and when you hit that run of consecutive losers, it gets emotionally difficult to keep at it. I have been trying to see if I can get away with a 1:1 risk reward, but it is not working out it seems. The reality is that the win rate and risk reward likely should be adjusted for each pair every week (sometimes shoot for a higher win rate (75%) at a lower risk reward (e.g. 0.7), other times shoot for a higher risk reward (e.g., 1.5) at a lower win rate (45%). Much easier to type than it is to implement, of course. :arrrg: In any event, please keep us informed if that risk reward ratio works out; its good for everyone to test different settings. What I am seeing though is that the TP and SL should be variable (not fixed), regardless of what risk reward you are shooting for.
Hi non-linear

I agree with you that with spreads, commission (let alone slippage if we go live) you need an EA with a win rate well above 50% (probably more like 70%) for these strategies to work. I do however have confidence that we can get some of these scalping strategies to work with the right risk:reward. August is a really tough month with very low ADR and most market movers on holidays. It is however a good time to hone our strategies (in Demo of course).

Cheers rapple
Author:  nonlinear [ Thu Aug 21, 2014 11:04 pm ]
Post subject:  Scalp the Little Gits, ds with automated WmiVol
Hope you right on ADR, Rapple. I was looking at past August moves, and this year looks different to me than years past. With all the recent regulation and investigations, the market may have just changed. Or maybe everyone is off drunk, lol, but I am not thinking that is the case. Patterns seem to have changed later last year and this year. Pairs just don't break as much like they used to, for example, and when they do, they stall quickly. Good lord, maybe I am just staring at charts too darn long. I guess we shall see.
Author:  nonlinear [ Sat Aug 23, 2014 12:27 am ]
Post subject:  Scalp the Little Gits, ds with automated WmiVol
This week's results on Broker 2: 3 winners 3 losers 1:1 RR (I needed the VPS for broker one for other tests. So many options, so little CPU)
Author:  AGT [ Sun Aug 31, 2014 1:44 pm ]
Post subject:  Scalp the Little Gits, ds with automated WmiVol
Hi peeps ! Any good news here ? What's going on ?
:hi:
Author:  SteveHopwood [ Sun Aug 31, 2014 8:40 pm ]
Post subject:  Scalp the Little Gits, ds with automated WmiVol
AGT » Sun Aug 31, 2014 1:44 pm wrote:Hi peeps ! Any good news here ? What's going on ?
:hi:
Nothing of any value for me. I have abandoned the EA.

:xm:
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