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And a 15 minute chart for better detail.
 

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Wysiwyg said:
I know of one.

No to news trader norm, just a simple breakout setup.Here is a present order opened.(click on image for detail)
Click to expand...

its funny how we all think differently -- and i mean no disrespect to anyones system cause B/O trading is great if u can get the right part of the bigger cycle --- but i would have my buy and sell positions (tentatively and relative to certain entry criteria) exactly opposite to the ones on your chart Wys. :D
 
Cartman said:
its funny how we all think differently -- and i mean no disrespect to anyones system cause B/O trading is great if u can get the right part of the bigger cycle --- but i would have my buy and sell positions (tentatively and relative to certain entry criteria) exactly opposite to the ones on your chart Wys. :D
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Well that is worth trying you know (reversing buy and sell) but this system banks on the price breaking out of it`s range in the next leg or two and not to continue sideways any longer.
You would be wanting another top or bottom put in and then a fall/rise which would net greater pips.It may be worth a test.

p.s. Also OCO the orders.
 
Okay the buy order has been triggered after a rising pennant break-up so it`s fate will now unfold.
 

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Wysiwyg said:
Well that is worth trying you know (reversing buy and sell) but this system banks on the price breaking out of it`s range in the next leg or two and not to continue sideways any longer.
You would be wanting another top or bottom put in and then a fall/rise which would net greater pips.It may be worth a test.
Click to expand...

been testing things like (spikes, reversals etc) this fairly extensively with both micro ( for safety) live and demo accounts ----------- whether people believe it or not --- 85+% on over 70 trades last 2 and a half weeks ---

no false impressions here cause i made some real sh*tty trades amongst them that i eventually got lucky with ----- but i just continued to trade the high/low spikes/cycles and the great thing about FX is it usually goes around in circles so the bad trades evened out into b/even or positive ---- certainly food for further investigation the way its shaping up ---

MM is paramount on this style of system ---- u cant afford to go in too hard on the initial entry --- i like to break up my 1-2% max potential loss per trade into 3-5 mini lots ---- working like a dream so far but early days

ps what profit target r u looking for on the above trade --- dont get greedy --- take the profit and run now !! ---- half of it anyway lol
 
Wysiwyg said:
Okay the buy order has been triggered after a rising pennant break-up so it`s fate will now unfold.
Click to expand...

we just had terrible manufacturing news come out in the USA.

i went long in my system @ 1.3884 as stochastic rose above 20 in line with the long term trend.

how does the system select when to place the market orders (long+short)?
 
Stormin_Norman said:
we just had terrible manufacturing news come out in the USA.

i went long in my system @ 1.3884 as stochastic rose above 20 in line with the long term trend.

how does the system select when to place the market orders (long+short)?
Click to expand...


Time based high and lows norm.The high and low are triggers after a set duration.

I need the stop loss to be brought to break even after 20 pips gain and then the 30 pip trailing stop takes over.

I don`t know how to jig the code to do that.
 
Wysiwyg said:
Time based high and lows norm.The high and low are triggers after a set duration.

I need the stop loss to be brought to break even after 20 pips gain and then the 30 pip trailing stop takes over.

I don`t know how to jig the code to do that.
Click to expand...

im not the brains behind our coding (the programmer does that, i just give the orders :p)

but i think this is the code that does it:

if(OrderOpenPrice() - Ask >= Point * MoveStopWhenPrice) {
if(OrderStopLoss() > OrderOpenPrice() - Point * MoveStopTo) {
OrderModify(OrderTicket(),OrderOpenPrice(), OrderOpenPrice() - Point * MoveStopTo, OrderTakeProfit(), 0, Red);
Click to expand...
 
fapturbo said:
Have you guys tried these two free EA's.

Am I allowed to post these links??

If it is not allowed I'm sure they will be moderated.

Don't want to be accused of ramping or whatever.

http://www.forex-tsd.com/expert-advisors-metatrader-4/13372-eurgbp-easy-profitable-ea.html

http://www.forex-tsd.com/expert-advisors-metatrader-4/17341-_rdb_the-best-free-ea.html
Click to expand...

ive fallen behind this (last) month on that forum. they look interesting however. hopefully i can find some time to read through the 100 or so forum pages between the two of them to have a gander.

are u a member of the 'elite' section? i find that forum extremely useful in helping to develop EAs (as opposed to just obtaining completed ones).
 
No not a member.

I don't have the time to code EA's. Hence the reason why I purchased one.

These crappy spreads at the moment are pretty gay. Not good for EA's.

Give it a few more days and hopefully they will be back to 3 pips on EURGBP and EURCHF
 
Wysiwyg said:
I need the stop loss to be brought to break even after 20 pips gain and then the 30 pip trailing stop takes over.

I don`t know how to jig the code to do that.
Click to expand...

Though i must remember this is a low frequency auto trader and hence the `breathing space` with the initial stop loss of 60 pips.No point in trying to pull out of the trade with a quick exit once in the green.This breathing space allows the trade time time to build momentum and establish new support zones.That is the reasoning anyway.
 
Well the first trade died and the second of the two has just triggered.In the meantime back to a day job.:(
 
Cartman said:
ps what profit target r u looking for on the above trade --- dont get greedy --- take the profit and run now !! ---- half of it anyway lol
Click to expand...

u didnt take any profit out of it Wys?? it was going ok for a while

Wysiwyg said:
Well the first trade died and the second of the two has just triggered.In the meantime back to a day job.:(
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i still reckon breakout trading on FX gets hammered too often --- unless u can afford to run really wide stops :2twocents -- good luck with it though.
 
if he's testing it on a demo, there's no real point to interfering and taking profit if you want to investigate how the trader works in the market.

i personally think much of the time EAs get very complicated, far more complicated then they need to be.
 
oh nice! MB trading are using MT4! i didnt realise that. im changing my EAs over soon then!

ill be waiting however for ATC to get more capitalisation i think; and hotspot has gotten some bad reviews about the place; about pretending to be a ECN, but not really being one.
 
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