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PP on Steroids Basics - ask your questions here.
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Author:  Zennor [ Mon Feb 23, 2015 2:29 pm ]
Post subject:  PP on Steroids Basics - ask your questions here.
Further to my last I will give you an example of how I trade the EURGBP.

The EA is hard coded to place multitrades at 20 pip intervals to the best of my knowledge, I therefore without manual intervention have no control over this. Not a problem.

I know the ATR for the EURGBP is 69 pips which means I know STATISTICALLY if I place 5 x 20 pips trades with a take profit of 30 pips on each trade I am very unlikely to be in and out in a day chasing 150 pips..

So I set the EA to place just 3 multitrades at 20 pip intervals and the stop loss on each trade is set at half the EURGBP ATR which can be set in the EA. Each multitrade is set to take a profit of 20 pips to ensure only one multitrade is open at any one time.

This way I am more likely to be in and out of the multitrades more quickly than chasing a target which is unlikely to get hit in a day.

I am not saying this is the correct way but it is an alternative to the one setting fits all scenario.
Author:  JohnnyAmpere [ Mon Feb 23, 2015 3:36 pm ]
Post subject:  PP on Steroids Basics - ask your questions here.
You have a good point there, I'll have a look into it. It's a demo account so it's safe to test things out.
The only "risk" to it is that the atr could be too high and produce a too large sl setting to my liking, but that can be controlled again by adjusting the position size to a smaller amount, or a bigger amount if the atr is really low.
Author:  SteveHopwood [ Mon Feb 23, 2015 6:18 pm ]
Post subject:  PP on Steroids Basics - ask your questions here.
There are some clear misunderstandings here, so I will correct them by directing you to my first post in the PPoS thread, where I briefly explain the multi-trading concept that I added to PP to create PPoS.

Remember guys, that when multi-trading, tiny lot sizes are the key to staying out of trouble. Pipcruiser's basic strategy is breathtaking in ist simplicity, but you have to 'get' it to undersand why. Those of us who have been around for a long time now understand enough about market movement to 'get' it; most of us are wondering why we didn't 'get' it a long time ago. Fact is, it ain't that easy. :arrrg:

PPoS stop losses are dire-emergency stops only. We are trading with a long-term trend and it takes a lot to turn one around. When a market takes off in the direction of its overall trend, it goes like a rocket - especially after a few days consolidation. It is no coincidence that most of my great PPoS trades have triggered on Thursday.

Having said that, D1 trades based on the MN1 and W1 can hang around for ages once triggered. They will murder the 'tight stop loss' brigade who will abandon PPoS as a ludicrous failure traded by idiots.

Mind, trends change. Not often, but they do. When that happens and you have a non breakeven Main Trade and two Multi-trades open, it is going to be an unhappy experience. If you are trading high lot sizes then you face wipeout.

Keep your lot sizes tiny guys, and live to trade another day when a market turns against you.

:xm:
Author:  JohnnyAmpere [ Mon Feb 23, 2015 9:10 pm ]
Post subject:  PP on Steroids Basics - ask your questions here.
Thanks for the explanation on how the multi-trading part works Steve. I understand the concept behind the multi-trade now, but it's not ideal for me and the regular PP performs really good on its own already from what I saw so far. I'll stick with just the main trade for now because I don't have a lot of time right now to manage the trades, so I'll focus on the main trades right now and see how the system works, maybe I will try it out in a later stage when I've got more time for it.

The settings I have right now are:

ATR TP: 4,5
ATR SL: 1,5
ATR BE: 1,5
ATR JS: 0,75

I will post a link to MyFXBook for this account soon in the PP Forward Demos soon.
First I'll have to check if everything is set correctly now, waiting for the closing candle.

One more question to be sure, to disable multi-trading Multi TradesMax must be set to 0, right?

Thanks for all the support so far.
Author:  SteveHopwood [ Mon Feb 23, 2015 9:17 pm ]
Post subject:  PP on Steroids Basics - ask your questions here.
One more question to be sure, to disable multi-trading Multi TradesMax must be set to 0, right?

Thanks for all the support so far.
Yes. And it is how PP was originally conceived. Multi-trading is just a bit of extra. You will find the original is a mighty fine concept.

:xm:
Author:  getting [ Wed Feb 25, 2015 7:44 am ]
Post subject:  PP on Steroids Basics - ask your questions here.
someone post logic behind this LotSize calculation?

Code: Select all

if (RiskPercent > 0) SendLots = CalculateLotSize(price, NormalizeDouble(stop + (HiddenPips / factor), Digits) );
from calculated spotdespot acct(863250), the profits would be 10% ahead using regular risk% calculation:

Code: Select all

double AllowedExposure = (FreeMargin * RiskPercent) / 100000;
Author:  Bigdummy [ Wed Feb 25, 2015 8:15 pm ]
Post subject:  PP on Steroids Basics - ask your questions here.
Gang I have asked this before but i want to bring it back up and see if I can get some direction on an issue I am having. PP on S is not creating any trades, I get these errors instead:
Oanda Issue 6.png
Also I have attached my set file in case it helps.

Regarding the set file, I have the trading times blank just to try to see some trades. Would someone have any ideal input for successful trading times (rather than, wide open) and how to format the reco? I am in the US Pacific time.

Edit: I also want to add that is seems to be different from Agnat issue. This is not in strat tester but in live trading.

thanks for any help :)

SD
Author:  Zennor [ Wed Feb 25, 2015 9:08 pm ]
Post subject:  PP on Steroids Basics - ask your questions here.
Hey Big,,

What version and build of Empty4 are you using?

Go to Help, About and the version you are using is bottom left hand side. The latest version is causing all sorts of EA problems. You really should be using build 670. I am not saying that this is the cause of your problem but it's a good starting area.
Author:  Zennor [ Wed Feb 25, 2015 9:18 pm ]
Post subject:  PP on Steroids Basics - ask your questions here.
I have had a look at your set file and cannot see anything wrong with your settings which leaves me to believe that possibly your broker does not allow a stop loss to be sent with pending orders. Not all brokers allow this feature and yours may just be one of them.

A good way to check this is to manually set up a pending order with a stop loss and see if it gets rejected or even if it possible because the stop loss aspect of the pending trade may be greyed out meaning you cannot make an input.

.
Author:  milanese [ Wed Feb 25, 2015 9:48 pm ]
Post subject:  PP on Steroids Basics - ask your questions here.
Bigdummy ยป Wed Feb 25, 2015 8:15 pm wrote:Gang I have asked this before but i want to bring it back up and see if I can get some direction on an issue I am having. PP on S is not creating any trades, I get these errors instead:


Also I have attached my set file in case it helps.

Regarding the set file, I have the trading times blank just to try to see some trades. Would someone have any ideal input for successful trading times (rather than, wide open) and how to format the reco? I am in the US Pacific time.

Edit: I also want to add that is seems to be different from Agnat issue. This is not in strat tester but in live trading.

thanks for any help :)

SD
this problem is mostly caused that the SL or TP or both would be to near at the openprice, often a broker problem having certain min. stoplevels, just try with an other broker, best open a demo with GlobalPrime and the problem should be resolved...

Cheers :)

Tommaso
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