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EA Bug
Since MP6140's rules require entering a minimum of 45 mins before the market reversals, how do you enter minutes in the EA? The EA only allows hour to be entered but not minutes. Can this be fixed?
Thanks.
I also sent Azmel a pm about this: Another good addition to the EA would be an option to close out the left-over trade at break-even after the first trade has taken profit. This will be a good option for those of us stuck with paying a 4 pip spread. This would still give us 30 pips a day.
I'm working on the EA so that it will allow trades that does not restrict opening times just at the turn of the hour only.
I'm also incorporating several additional features such as the one suggested by fxshadow where if one trade hit its take profit value, the other will move to break even.
The EA will be ready by this weekend.
I'm working on the EA so that it will allow trades that does not restrict opening times just at the turn of the hour only.
I'm also incorporating several additional features such as the one suggested by fxshadow where if one trade hit its take profit value, the other will move to break even.
The EA will be ready by this weekend.Excellent work Azmel, appreciate the efforts.
I was in another forex forum when MP showed up. He enlightened me with his knowledge so here I am. I have read through the thread once and will now read it again. I am also trying out MP hedge system. I was late tonight, but tomorrow I will be on time.
Forex is my future income. I lost my job in 1998 due to illness. As a man its hard to adjust being at home not making money and watching your wife go to work, its sickening, so forex will have to be my hero and get me back to being the bread winner in my family.
I have been studying the forex for about 7-8 months. I want to get in as soon as possible but I know the number who fail so I will wait till I am ready because I want to be successful.
Thanks for all your help.
Craig WeaverHey Craig
Here's a really silly little bit of advice, but try not to forget it.
Start with the D1 trend, and then trade the other time frames, never forget what the D1 trend is doing.
Just my 5c. :-)
Cheers
Wayne
Thanks, Azmel. Please allow user to enter minutes as well.
I'm working on the EA so that it will allow trades that does not restrict opening times just at the turn of the hour only.
I'm also incorporating several additional features such as the one suggested by fxshadow where if one trade hit its take profit value, the other will move to break even.
The EA will be ready by this weekend.Thanks, Azmel. Please allow user to enter minutes as well.
=====================================================
ok, its early, but can someone tell me the purpose of taking profit on ONE side of the hedge and breaking even on the OTHER !
i dont understand it !
thnx
mp
=====================================================
ok, its early, but can someone tell me the purpose of taking profit on ONE side of the hedge and breaking even on the OTHER !
i dont understand it !
thnx
mpwhat fxshadow means is that he only wanted one trade from the hedge to take profit. The reason is because of the big spread, thus his opposing trade have to work harder to reach that take profit value. There are times when the TP value is just one pip away and the market reverses.
So fxshadow devise a method whereby if one trade hits take profit, then adjust the other trade's TP to BE. Obviously, the profit from the other trade is zero, thus your nett profit is halved. This is the price you have to pay if you are using a big spread broker like InterbankFX.
Hey Craig
Here's a really silly little bit of advice, but try not to forget it.
Start with the D1 trend, and then trade the other time frames, never forget what the D1 trend is doing.
Just my 5c. :-)
Cheers
Wayne==================================================
thnx boss, but that is very not necessary --- its hard for us to get the TREND out of our minds, since that is what we are taught, saves trades and just makes sense with or without sl, but in this case its totally extraneous as this trade is NOT affected in any way by the DAILY trend, but rather the absolutely NECESSARY intraday reversal trend and the point that the market makers reverse a trade so THEY can make money and grab more shares !
there are a few purposes behind these reversals, but mostly by stopping and reversing price the mm's get MORE shares at a lesser price to continue a bullish runup AND/OR they make money against your long by now shorting, where most people will now sell and they buy more shares at a lower price to short on the way down as people bail their long positions. Of course, reverse this for a market thats moving down !
Now at the bottom, because of averaging down, they own MANY shares at a lower price and now they run the price back up, taking profit on the long side with their cheaper shares !
Lets say they run a currency up to 1.9000, at which point they reverse down to 1.8000 ---- almost everyone except long term holders will bail their positions (its SO human nature) to take profit, as they sell at a steadily decreasing price OR THEIR STOP LOSSES ARE HIT !
DO YOU SEE SOMETHING IN THAT LAST STATEMENT ???
Now the price is down to 1.8000, the mm's now cover by buying all these shares but at a 1000 pip advantage to where the currency was 15 mins ago, and UP THEY GO AGAIN, with lots more shares to sell the retail trade, but they got em CHEAP !!
Its often called a "headfake" because they fake you into thinking the price will now go down forever, scaring you into selling or forcing your stop losses --- Its HOW the rookies loose money and the mm's do it with glee !
PRO traders are the BEST daytraders in the business and are well rewarded for being so --- their job is to MAKE money for the company they work for and not care much about how they do it !
Trading, at least to this person, is KNOWING what theyre doing more than simply knowing when to enter and when to exit ! Theres a lot of pros out there, and they dont give a rats rump about any of us --- rather they really dont like us at all, but will quickly grab our money !
of course, when trading with no sl, one better know the trend and NOT trade against it !
love and kisses
mp
==================================================
thnx boss, but that is very not necessary --- its hard for us to get the TREND out of our minds, since that is what we are taught, saves trades and just makes sense with or without sl, but in this case its totally extraneous as this trade is NOT affected in any way by the DAILY trend, but rather the absolutely NECESSARY intraday reversal trend and the point that the market makers reverse a trade so THEY can make money and grab more shares !
mpHey MP
Sorry but you misunderstood. I was talking Forex trading in general, for a guy who is looking for pointers, not about this thread in particular.
But a really good post otherwise, thanks.
Cheers
Wayne
Hedge System
Just as I knew you would be, correct that is, I made a little over $400.00 last night on your hedge system, Thank you.
This will definitely help me to build up my wimpy account when I start trading live.
Craig Weaver