PipMaker v1 - Price action based EA - page 129
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Will ignore them. EA manage only it's own orders.
Thank's for all the comments, Enforcer.
I think this EA is the best ever, but needs a lot of tunning to be made.
Do you know somewhere a more detailed explanation of all the variables inside the EA?
Ex. how the MM works?
- what if multiplier=1 and when it becomes active(mm=true or mm=false)
- what's the relation between profit target and profit skew?
- what means max retrace and how it acts?
First I would like to thank those who have contributed to writing this EA and improving it. I have a couple of ideas which may improve its performance and lower drawdown.
The first one is instead of having the EA place a second order after the price has gone against you say 20 pips (if not using auto spacing), have the EA wait until it goes a predetermined number of pips beyond that price and have the EA place a stop order 20 pips from the first order and so on.
For example lets say the EA opened a buy order for GBP at 1.9800 for .01 lots and normally when the price reaced 1.9780 it would open another buy order for .02 lots. But instead, why not wait until the price reaches 1.9760 (or the number of pips the user chooses) and have the EA place a stop order at 1.9780 and if the price goes back up to 1.9780 then the trade is executed. This should protect the user if the price drops significantly. Every order after the first order could be done this way. If the GBP happened to drop 150 pips in 15 minutes without retrace you would only be sittting with one .01 lot postion open with a 150 pip loss instead of 7 open positions with a 640 pip total loss.
The second idea is to actually take some profit before the profit target is reached. I have done this manually several times and it has increased my profit significantly. Using our above example lets say that we have 7 positions open. .01 lot at 1.9800, .02 lots at 1.9780, .03 lots at 1.9760. 04 lots at 1.9740, .05 lots at 1.9720, .06 lots at 1.9700 and .07 lots at 1.9680. Now why not take some profit when the 1.9680 postion reaches a certain number of pips (chosen by the user) lets say 20 pips. So when the prices climbs back to 1.97 take 20 pips profit. If the price continues to climb that's great and you will still be able to reach the target profit. But if the price declines and another order is opened at the 1.9680 price once again we have gained another 20 pips and we can keep doing it over and over. ( I did it 3 times with .18 lots on GBP the other day manually). It would be cool if the user could choose after what order this would occur (for example the 5th order) and the number of pips profit to take.
I am not a very good programmer, so if someone could code this, I think it would be beneficial. Thanks.
KevinThose two ideeas worth have a try, I think.
Opening only limit orders -the risk is that the price will trigger the order, then reverse again, and you will lose the extreme low position (for a buy) that can make the difference and close all the positions in profit.
Separate trailing for the positive positions - yes, that I think is a better ideea.
In this case there are 2 poss scenarios:
1. the price continues and succesive positions are closed.
2.the price resumes initial move and another position is open.
In both cases, you have a +profit.
This really needs a try!
But is possible?
Hm, just an observation....
If you try to adjust trade long/trade short by determining the general daily trend, the results are amazing!
Just open a daily chart with Bollinger bands and a stoch 21,3,3, and set the EA to make trades only in the direction of the trend, determined by the stoch cross (in 20-80 area) and the confirmation of the Bollinger bands.
for the days where stoch ENTERS the OB/OS zones, just set the EA to trade both directions, until the stoch has made a clear exit from the OB/OS.
Just try it!
In this case you can use the max risk...
Hm, just an observation....
If you try to adjust trade long/trade short by determining the general daily trend, the results are amazing!
Just open a daily chart with Bollinger bands and a stoch 21,3,3, and set the EA to make trades only in the direction of the trend, determined by the stoch cross (in 20-80 area) and the confirmation of the Bollinger bands.
for the days where stoch ENTERS the OB/OS zones, just set the EA to trade both directions, until the stoch has made a clear exit from the OB/OS.
Just try it!
In this case you can use the max risk...Could you please explain how to use Bollinger Bands for confirmation of the signals?
As they are tehnically used....
In an uptrend, the price penetrates the upper band, usually, a sign of reversal is when price retraces again inside the bands, then makes another high, but lower than the previous high. The second high MUST not touch the upper band, otherwise is not valid.Remember, a HIGH is surrounded by at least 2 lower highs.....If we have a ob situation on stoch, then it's a high probability that we have a reversal/retracement. Maybe it's time to switch again the EA to make buy+sell.
When the downmove is confirmed, switch to only sell.
As I see, between 20/80 levels of stoch we can make only buy or only sell with a greater profit and lower risk.
As they are tehnically used....
In an uptrend, the price penetrates the upper band, usually, a sign of reversal is when price retraces again inside the bands, then makes another high, but lower than the previous high. The second high MUST not touch the upper band, otherwise is not valid.Remember, a HIGH is surrounded by at least 2 lower highs.....If we have a ob situation on stoch, then it's a high probability that we have a reversal/retracement. Maybe it's time to switch again the EA to make buy+sell.
When the downmove is confirmed, switch to only sell.
As I see, between 20/80 levels of stoch we can make only buy or only sell with a greater profit and lower risk.Thanks for explanations!
I have a few another questions.
If BB signals that UP trend changes to DOWN trend, Stoch between 20-80 and goes DOWN then we take only SELL positions.
But if in this situation Stoch goes UP, then which direction do you propose to trade?
And which parameters of BB do you use?
Thanks again!
SL and TP
Hello all,
May anyone cnahge the EA to put the TP when the order is open???
Thanks
Hi,
Has anyone live results (real money) with this EA?
Hi, Has anyone live results (real money) with this EA?
I think was posted sometime ago live results in this thread.
I had good results too but my account history is a mix of EA trades and manual trades and can provide accurate results.
Hello all,
May anyone cnahge the EA to put the TP when the order is open???
ThanksWhat for? TakeProfit isn't working?