Piplite v1.0 - page 29
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Gbp/usd 30 min chart must enter initial account balance
All,
First to answer the question about Piplite being a hedging trader. It is not a hedging trader. Sometimes, and on rare occasion, during the start of it's trading basket, it has a hard time determining the correct direction.
This happens when Piplite has a .01 buy/sell lot out there and the direction suddenly reverses so it puts an opposite buy/sell. Well, if your broker did not allow hedging, your broker would close out both trades. It will probably be at a small loss but Piplite will have the correct direction now.
Piplite does not put a trade out there the second it is placed on a chart. Changing the parameters to get it to place trades is asking for trouble. Let Piplite do it's thing. The parameters for success are built right into Piplite v3.1 on the GBPUSD m30. If you change any of these things, you do so at your own risk and probably bad trades.
Piplite will not be modified for the "hedging" issue. In fact, this issue will ensure Piplite trades successfully in the correct direction!
Happy Trading
v/rHi Jeff,
This is my first introduction on this forum. I have started to forward test piplite 3.1 and read basically all in this thread. I run it default on USDGBPm30 and I can see both long and short positions at the same time. I believe you that this is not a hedge EA but it feels that those rare ocassions occurs more often than you think. I am running piplite on Instaforex and they are not member of NFA so it shouldn't be a problem anyway. I have right now a perfectly hedged situation 2 long and 2 short positions which basically becomes even. I wonder how piplite will handle this situation? How will the profit be made, will the EA treat long and short positions separate or together?
/Andreas
eusanka
i think i can answer that .... enventually it will open another position and if that position goes to the profit target piplite will close all the orders .which is why i am trying to find someone who can change that.see i want the buying and selling to be seperate meaning the buy orders will have there own target and vice versa.i would imagine its possible well see though.................
Requoted and missed exit...
Hi Iron (thanks for a great EA!) and other Piplite users.
Anyone using Piplite with FxPro? I have been testing FxPro in anticipation of the hedging ban as I need to find a broker that will allow me to use PointBreak and a few additional EAs after 15 May.
I have been using the FxPro demo without a problem (ha, ha...) and Piplite has been running on a live account for a few days. Today, 4 trades were opened and one trade exit was requoted 3 times and did not close out. I wasn't in front of the screen at the time, so I missed the (immediate) opportunity for a manual close.
Is it possible to modify Piplite to avoid this occurring again? In other words, is there a setting I can change, or does the EA have to be modified to ensure that all open orders are eventually closed?
Kev
i was just reading and posting at the fxpro link here it seems someone just had a problem with there ea with fxpro you should contact them and see if the problem was resolved i think....... by the way is the point break ea a trend follower how does it work ?
One of the problems with FXPro appears to be Metatrader build 223. I have reverted to V220 and so far, so good!
Pointbreak uses a starting point, adds positions either sid eof that point as the market moves and eventually closes all positions at a profit - sometimes it can take a number of days if the market is in a trend. Unfortunately, as it involves hedging, I can't continue to use it with my US based accounts.
In 12 months, I have never had a losing month and the EA is virtually set and forget. The returns are not stellar, but they are consistent.
Google Forexhope. I don't think I am allowed to quote the URL here.
Kev
Guys, can someone tell me where I can find the set files for this EA?
Guys, can someone tell me where I can find the set files for this EA?
There are no set files. The parameters are built in for GBPUSD 30 min. See post 259
ok.. but it can be used on other pairs with the same settings for gbpusd 30M?