Dietmar.. Exceptional job
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| European Breakout Grid Trap Strategy https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=101 |
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| Author: | jutex405 [ Mon Dec 24, 2012 4:28 pm ] |
| Post subject: | Re: European Breakout Grid Trap Strategy |
| Dietmar.. Exceptional job |
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| Author: | forextrader-radioman [ Mon Dec 24, 2012 4:39 pm ] |
| Post subject: | Re: European Breakout Grid Trap Strategy |
hmmm, just "the power of martingale" ... If an account can haldle that scaling: 0.05 lot 0.4 lot 6.4 lot 25.6 lot (and so on) that is no problem. With TP only 10 pips away, the price will never be endless in that tight range , Dietmar |
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| Author: | mantkinth [ Tue Dec 25, 2012 7:05 am ] |
| Post subject: | Re: European Breakout Grid Trap Strategy |
Err what do u mean Dietmar? do you mean my changes made it that some older pending orders are not deleted? or was that always the case with the EA? |
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| Author: | forextrader-radioman [ Tue Dec 25, 2012 9:38 am ] |
| Post subject: | Re: European Breakout Grid Trap Strategy |
Hy yes, that was always an issue with the EA  In former times, one could live with that, because the EA placed a new grid several hours later but now it can happen that the EA places a new grid some minutes after the TP was hit and it is not good to see old undeleted old pending orders ... I would be very thankful if you could have a look at it and possibly fix it? To delete -all- not filled pending orders would be the wrong way. It is important, that the EA kills only "his own" pending orders (identified by magic nr.). Because I ran the EA in several charts at the same currency pair. Only different trigger level by 12 pips away, and old, not deleted pending orders are now waiting there, too close to the actual price. (sorry about my bad english, its hard for me to explain...) xmas greetings, Dietmar |
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| Author: | mantkinth [ Tue Dec 25, 2012 11:50 am ] |
| Post subject: | Re: European Breakout Grid Trap Strategy |
Well I had a look at the code, and the only time the pending trades will be deleted is if its either hits hits one of the profit enabled functions. Otherwise the code will never kill the pending orders. So i assume all remaining pending lines will be closed once a grid has hit TP? and then a new set of grid is restarted assuming the trading time is still good? New I had a look at the code again, and then tried something I coded for Pooler to stop trading afterthe amount of open orders has decreased(since the only way that happens if profit has been hit) , but apparently you can actually lose money with the system despite it being a grid.. this makes it a lot harder to determine when to delete the pending orders... |
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| Author: | Nipponho [ Tue Dec 25, 2012 3:33 pm ] |
| Post subject: | Re: European Breakout Grid Trap Strategy |
Merry Christmas Dietmar and Mankinth, Remember I was telling u about the EAs that I used over at forex factory threads, that they have a critical flaw. If prices keep zig sagging, it will keep opening double lots over at other side, and will stop only when the basket reaches the desired profit or account runs out of margin and dies off. It should not close at a loss. When one side of the trade reaches ”4th level”, which is take profit level, the EA closes the entire basket, conveniently forgetting that it is supposed to “rescue” losses over at the other side. The basket will be closed at a loss as a result. I was demoing the EA provided by Mankinth a few days ago. It has this same critical flaw. Dietmar, do read the FF thread if u have time. There is a way to trade this strategy profitably by turning on and off. But unfortunately, I could not find a functioning EA for it. Perhaps Mankinth may have a way to fix it. |
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| Author: | forextrader-radioman [ Tue Dec 25, 2012 5:55 pm ] |
| Post subject: | Re: European Breakout Grid Trap Strategy |
OK, that could be, but as I am actually only trade with "one level" on both sides and the second level is already TP that is no issue yet. I observed the correct closing of all active trades, the profitable ones and the losing ones but it does not delete immediately all remaining and not triggered pending orders. I have read the advised thread at FF but what bores me to death is always those postings about "we must limit the possible losses" which kills also the whole strategy. (same with the whining about "repainting" indicators *sigh* in other threads.) To trade the strategy (with or without EA) the lot size must be very small and the account must be very big. And yes, the final SL is the margin call, thats ok (for me). |
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| Author: | niepce [ Fri Jan 04, 2013 3:34 pm ] |
| Post subject: | Re: European Breakout Grid Trap Strategy |
hi dietmar, Just read the thread here, im not sure how you handle trades still being active at the end of the day (when price did not breach the 60 pip boundary eitherside). Do you have a closure time for the day, and account your losses ? Or do you keep the same grid running the next day ? And do you open a new grid in parallel next day at 7am gmt (case of eurusd), if previous day trades are still open ? Or do you skip that day ? Thanks !! |
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| Author: | niepce [ Fri Jan 04, 2013 3:40 pm ] |
| Post subject: | Re: European Breakout Grid Trap Strategy |
oh, and by the way, I just eyeballed the GBPJPY chart for the month of Dec 2012. Using your exact strategy here, with a Grid start time of 00:00 GMT. Have a look, and let me know your thoughts ? |
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| Author: | forextrader-radioman [ Sun Jan 06, 2013 9:41 am ] |
| Post subject: | Re: European Breakout Grid Trap Strategy |
Hy Niepce, well, I do not trade the strategy as posted at page 1 any more. I trade last weeks only with one level and not with 3 levels. Pending order long 10 pips above, pending order short 10 pips below the price. TP is 10 pips, SL is TP of other side. For that you have to use the settings of the breakout-EA like you see in attachment. I have placed 70 charts (EUR-USD M5) and on each chart there is the EA placed with grid starting at one of these levels: 1,35930 1,35810 1,35690 1,35570 1,35450 1,35330 1,35210 1,35090 1,34970 1,34850 1,34730 1,34610 1,34490 1,34370 1,34250 1,34130 1,34010 1,33890 1,33770 1,33650 1,33530 1,33410 1,33290 1,33170 1,33050 1,32930 1,32810 1,32690 1,32570 1,32450 1,32330 1,32210 1,32090 1,31970 1,31850 1,31730 1,31610 1,31490 1,31370 1,31250 1,31130 1,31010 1,30890 1,30770 1,30650 1,30530 1,30410 1,30290 1,30170 1,30050 1,29930 1,29810 1,29690 1,29570 1,29450 1,29330 1,29210 1,29090 1,28970 1,28850 1,28730 1,28610 1,28490 1,28370 1,28250 1,28130 1,28010 1,27890 1,27770 So you can see, every 11 pips there is a new Grid starting, when price is at the specified level from the list above. The EA is set to "one level" , so there is only one pending order short and one pending order long placed. 10 Pips above or below the trigger price. TP for each is 10 pips away. SL is the TP of the other side. (see screenshot attached) Every time, when price is entering one pending order, the pending order lot size of the opposite side is growing (martingale effect) to make sure, that the final direction (where TP will be reached) is much bigger in lot size than the former (wrong) directional trades. You need a very large account to trade this, even if you start with only 0.05 lot in smallest (first) step. So far I monitored this steps of lotsize: 1st: 0.05 lot 2nd: 0.4 lot 3rd: 6.4 lot 4th: 25,6 lot (and so on) The trick is, if price has reached one final TP (and final SL for the opposite, "wrong" trades), there is 1 pip ahead a new pending order waiting, starting again a new cycle with 0.05 lot. I will test that during the next weeks, it runs 24/7 on my vps. Screenshot also attached ... There are some issues with the EA: It has 3 things to change (and as I am no coder, I need help). - if Take-Profit (or Stop-Loss) was hit, there are not all old pending orders deleted - the martingale process is not proper working, increasing lot size is too aggressive - all TP and SL and pending-orders are directly transmitted to the broker, that is ok for DEMO trading but not for real money account. I will not tell any mt-4 broker, where I have my take profit or stop loss levels! The strategy of the breakout EA should be: - place a pending order buy and sell with 0.01 lot 10 pips above and below of specific price (with magic nr.) - take profit is 10 pips away, stop loss is the take profit of the opposite side (so here 30 pips) - if long pending order is triggered, there is a second pending SHORT order to be placed, but the lot size must be 0.03 or 0.04 (3 or 4 times the previous entered trade). - if take profit long is reached, all remaining pending orders (magic nr.!) must be deleted - trade finished because that was a "single long run". other scenario: - place pending order short and long like 1st scenario, also TP and SL like above - long pending order is triggered and additional short pending order is placed as above - now the price is not moving longer long, it is moving short and triggers the both pending short orders - now there must be placed an second long pending order with bigger lot size, 3 or 4 times bigger than the last triggered trade (0.03 x 3 = 0.09 lot) (or 0.04 x 4 = 0.16 lot) - if take profit short is reached, all ok. if not: - price is not moving further short, it returns again to the long side and triggers now both pending long trades (0.01 and 0.09 or 0.16 lot) - now there must be placed another short pending order but with lot size 3 (or 4) times bigger than the last triggered price: 3 x 0.09 = 0.27 lot, or 4 x 0.16 = 0.64 lot) and so on, until finally a take profit level is reached. No matter if long or short, always the final entered trade is bigger than the other "wrong side" trades. - it is important to work with "magic nr." to make it possible to run several EA at the same pair (of course, each in his own chart )I am experimentating with this strategy here ( http://www.myfxbook.com/members/Radioma ... ine/447173 ) with the old version of that EA, but, as I wrote, that is not working well for this. Result: bad trades because sometimes there are old pending orders triggered or new pending orders could not be set because "margin is too low" because scaling is too aggressive. The correct martingale scaling should be (for example, if I start with 0.05 smallest lot size) : 0.05 (one long and one short) 0.2 (only short -or- long) 0.8 -"- 3.2 -"- 12.8 -"- and it is now: 0.05 (one long and one short) 0.4 (only short -or- long) 6.4 -"- 25.6 -"- 102.4 -"- greetings from Hamburg/Germany, Dietmar |
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