FreedomRocks IntraDay Method - page 6
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Made one little change...
I made a small change in the way I'm doing this....instead of entering a solid 60 pip TP with each entry, I'm entering an initial 40 pip SL with a trailing stop of 10 pips. So, if the market moves up 10 pips, my stop moves to -30, if it moves 10 more pips, my stop moves to -20 and so on. That's the way FX Sol's trailing stop feature works. This may ultimately work against me, but we'll see.
So far, as you can tell in my post above, we're up over 7% profit, but that's very short-term and we all know that profits can evaporate. But its FUN SO FAR!
I started an MT4 demo on MIG using the last version that Guyver sent me, so we'll see how that goes as well. It doesn't have TS, just a fixed TP and SL. I tried to use it on a backtest, but Guyver already told me it wouldn't work...I'm just stubborn!
It hasn't placed the orders just yet, so I will have to play with it a bit.
EDIT: We have LAUNCH! I installed the EA on the EUR/USD pair and it placed all the orders on G/U, U/J, and U/C.... I'll have to figure out the timing, but its taking positions! Thanks Guyver!
As of 4:00am GMT+2:
E/U: LONG@1.3832 TP@1.3892 SL@1.3792
G/U: LONG@2.0578 TP@2.0638 SL@2.0538
U/J: LONG@120.94 TP@121.54 SL@120.54
U/C: LONG@1.1995 TP@1.2055 SL@1.1955
Good luck with your new setup
First Day MT4 Demo Results!!
Good luck with your new setup
Thanks Manz66!
It went ok last night with $454.03 profit, but the EA needs a small mod because our REAL profit was actually $540.64! What happened was this morning, I decided to close out all the pairs at the same time to capture the good gains. When I did, the EA immediately reordered 1 lot in each pair, so we lost $86.61 in spreads to the broker. I had to shut it off, then close them all out again. I'm sure Guyver will be able to make a fix on it, but until then, I'll remember to disable the EA once the orders are placed until the code can be altered. It needs to limit itself to only entering one trade per pair per day at the fixed entry time.
I could also probably do a workaround by setting the ending trading hour to one hour past the start. That way, it will only place the orders once unless they hit a SL or TP within that same first hour. After the orders are placed, the EA really doesn't do anything else since there are SL's and TP's already set at order entry.
I'm impressed at this EA's ability to place orders on other currency pairs from a different chart. It's probably simple and easy for you coders out there, but I think it's cool! You actually attach this EA to the EUR/USD chart, but it will also simultaneously enter the orders on the GBP/USD, USD/CHF, and USD/JPY in addition to the EUR/USD. For testing this trading strategy, this EA works pretty well so far.
The only other thing that would be helpful right now would be a Trailing Stop function and Guyver has already said he would try to implement that once he has some spare time. Thanks Guyver! We now have a working EA (with workarounds) for this test! You da man!
I'm ditching the FX SOL Demo now that I have the EA running on MT4. It was difficult to keep up with and you can now view my FR Intraday MT4 Demo statement by clicking the link in my sig tag.
See y'all later!
Do we have an acceptable EA for this method yet?
Yes, the FR-Intraday v1.1 listed on the first post in this thread is the one I'm using on my demo right now. You have to either disable the EA after it places the orders each day (if not, you get multiple orders when the others close!) or you can set the set the stop trading hour one hour past the start trading time and hope no orders close during that 1 hr window.
Idea for future mod...
Here's an idea I thought of that will give us positive swap every day...
If we could mod this EA to place the entry orders for positive swap pairs ($/CHF and $/JPY) just prior to the end of the broker's day, but set the entries for the negative swap pairs (GBP/$ & EUR/$) AFTER the end of the broker's day, then we'll have some very nice daily positive swap! And....it will be even better than the actual Freedom Rocks system's setup because you won't be PAYING negative swap/interest for carrying the losing pairs all the time! On IBFX, this would amount to net swap accrual of $22.40 per day if you trade 4 standard lots every day on a $10k equity account. That equates to annual interest of 81.76% just in swap!! Pretty cool profit just for adjusting the entry times....
So, Mr. Guyver... I would think the ideal and easiest way to accomplish this objective would be to simply mod the EA to trade ONLY one pair...not all four. This way, we could install the EA on the four charts separately and program the start entry times for each individual pair. I'm wondering if I remove three of the currency symbols in the inputs, that might just do the trick and allow me to set it up on 4 separate charts. I'll give it a try.... (EDIT: Nope, didn't work. Oh well, Guyver to the rescue!!)
However, if you can or would rather do it from within the same EA and just have separate input start/end times for each currency, that would work too! We're happy either way!
Excellent thought, I like this. Can't wait for our hero to appear; you here Mr. Guyver?
Here's an idea I thought of that will give us positive swap every day...
If we could mod this EA to place the entry orders for positive swap pairs ($/CHF and $/JPY) just prior to the end of the broker's day, but set the entries for the negative swap pairs (GBP/$ & EUR/$) AFTER the end of the broker's day, then we'll have some very nice daily positive swap! And....it will be even better than the actual Freedom Rocks system's setup because you won't be PAYING negative swap/interest for carrying the losing pairs all the time! On IBFX, this would amount to net swap accrual of $22.40 per day if you trade 4 standard lots every day on a $10k equity account. That equates to annual interest of 81.76% just in swap!! Pretty cool profit just for adjusting the entry times....
So, Mr. Guyver... I would think the ideal and easiest way to accomplish this objective would be to simply mod the EA to trade ONLY one pair...not all four. This way, we could install the EA on the four charts separately and program the start entry times for each individual pair. I'm wondering if I remove three of the currency symbols in the inputs, that might just do the trick and allow me to set it up on 4 separate charts. I'll give it a try.... (EDIT: Nope, didn't work. Oh well, Guyver to the rescue!!)
However, if you can or would rather do it from within the same EA and just have separate input start/end times for each currency, that would work too! We're happy either way!This is a VERY interesting thread!
My question is....I'm understanding that with your setup, you are using Stop loss and Take profits...instead of FR strategy of setting buy and sell limits --- not SL & TP's. What is your rational for doing the SL & TP's instead of the Buy and Sell limits?
The reason I ask is that I am in FR and like the strategy, (yes having excellent results) but would like to be a bit "more" active in my trading....or basically have more trades executed. I've been looking at setting up an EA with IBFX and setting my buy and sell limits at 60 above and 50 below --- but I can't figure out how to set up an EA.
What is the difference between your strategy and the one I suggest (other than our pip difference)...what do you believe the benefits/cons of each strategy and how the heck do set up one of these darn EA's!
Thanks.
Tara
Here's an idea I thought of that will give us positive swap every day...
If we could mod this EA to place the entry orders for positive swap pairs ($/CHF and $/JPY) just prior to the end of the broker's day, but set the entries for the negative swap pairs (GBP/$ & EUR/$) AFTER the end of the broker's day, then we'll have some very nice daily positive swap! And....it will be even better than the actual Freedom Rocks system's setup because you won't be PAYING negative swap/interest for carrying the losing pairs all the time! On IBFX, this would amount to net swap accrual of $22.40 per day if you trade 4 standard lots every day on a $10k equity account. That equates to annual interest of 81.76% just in swap!! Pretty cool profit just for adjusting the entry times....
So, Mr. Guyver... I would think the ideal and easiest way to accomplish this objective would be to simply mod the EA to trade ONLY one pair...not all four. This way, we could install the EA on the four charts separately and program the start entry times for each individual pair. I'm wondering if I remove three of the currency symbols in the inputs, that might just do the trick and allow me to set it up on 4 separate charts. I'll give it a try.... (EDIT: Nope, didn't work. Oh well, Guyver to the rescue!!)
However, if you can or would rather do it from within the same EA and just have separate input start/end times for each currency, that would work too! We're happy either way!Hi Pipsk...
Problem I see here is knowing (for each broker) at what time they apply their swap. ie. whats the end of their trading day. Don't think you can programatically obtain this info.
Could be done easily if you don't mind inputting the time your broker applies swap as an input. Maybe I'll have a look at the EA ... is it on this thread the latest version ?
Also happy to put some TS and MM code in if you want ... BUT don't want to step on anyones toes though... let me know ?
Cheers
Paul.
:)
Here's an idea I thought of that will give us positive swap every day...
If we could mod this EA to place the entry orders for positive swap pairs ($/CHF and $/JPY) just prior to the end of the broker's day, but set the entries for the negative swap pairs (GBP/$ & EUR/$) AFTER the end of the broker's day, then we'll have some very nice daily positive swap! And....it will be even better than the actual Freedom Rocks system's setup because you won't be PAYING negative swap/interest for carrying the losing pairs all the time! On IBFX, this would amount to net swap accrual of $22.40 per day if you trade 4 standard lots every day on a $10k equity account. That equates to annual interest of 81.76% just in swap!! Pretty cool profit just for adjusting the entry times....
So, Mr. Guyver... I would think the ideal and easiest way to accomplish this objective would be to simply mod the EA to trade ONLY one pair...not all four. This way, we could install the EA on the four charts separately and program the start entry times for each individual pair. I'm wondering if I remove three of the currency symbols in the inputs, that might just do the trick and allow me to set it up on 4 separate charts. I'll give it a try.... (EDIT: Nope, didn't work. Oh well, Guyver to the rescue!!)
However, if you can or would rather do it from within the same EA and just have separate input start/end times for each currency, that would work too! We're happy either way!LOL now we are getting out of original idea ..
Hi!
sorry been really busy trying work on my own system but i can do these changes if you want ?? so as i understand you just want 1 pair now??
Hi Pipsk...
Problem I see here is knowing (for each broker) at what time they apply their swap. ie. whats the end of their trading day. Don't think you can programatically obtain this info.
Could be done easily if you don't mind inputting the time your broker applies swap as an input. Maybe I'll have a look at the EA ... is it on this thread the latest version ?
Also happy to put some TS and MM code in if you want ... BUT don't want to step on anyones toes though... let me know ?
Cheers
Paul.i would say please go ahead and recreate the ea as i am having very less time these days
thanks