Piplite v1.0 - page 25
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set files
where are the set files? thanks
why I have this error?thank you!
2009.04.15 18:48:08 Cannot open file 'D:\Program Files\FXDD - MetaTrader 4\experts\indicators\Adaptive RSI.ex4' on the GBPUSD,M30
where are the set files? thanks
i was wondering the same thing
Set files and overlay
All,
There are no set files for Piplite. Piplite uses the parameters that are in the mq4 to trade the GBPUSD on a 30 minute chart. The only thing you need to do is to set your account information in the menu after placing it on the chart.
The overlay displays correctly. I'm not sure what is inaccurate with your information but here is a picture of my live account:
Misunderstanding
You misunderstand what the overlay information is giving you. Portion Balance is your actual account balance divided by the portion you set. Initial account is the amount you don't want to continue trading at should your actual account balance drop below that figure.
So, on the first instance (example) you have below, you have set you initial account at $2500. Your portion is at 4 so that tells me based on your portion balance that your actual account balance is 10496, right? Now, Piplite calculates the lots based on your account balance therefore, because you have IBFX set to true, your base starting lot size is correct based on your risk of 5.
Your Profit target is correct as well because this is based on the lot size and skew. With lot size of .13, profit target is (.13X100)/10 * 14 which equals 18.2...you'll see this in the code.
Finally, the total risk on account is 13 and that is correct too. 50% is the EP set into the Stoploss amount. Your portion is 4 therefore your total risk on account is 50/4 = 12.5 rounded up = 13. Which is the same as saying if you hit EP, you could loose 50% of your portion balance. That amount is 1312 which is 13% of your total account size.
I hope that explains what you are looking at.....
v/r
Hi Iron,
Thanks for version 3.1. Some parts were fixed, but there's still a problem. Here are two instances:
Initial Account = 2500
IBFXmicro = true
Portion = 4.0
MaximumRisk = 5.0
However, on chart EA shows:
Portion Balance = 2624.00
Total Risk on Account Percent = 13
Profit Targe = 18.20
MaxProfit = 8.15
Starting Lot Size = 0.13
With initial account = $2500 and Portion = 4, how can Portion Balance = 2624.00 and Starting Lot Size = 0.13? This doesn't look correct!
------------
Initial Account = 2500
IBFXmicro = true
Portion = 2.0
MaximumRisk = 5.0
However, on chart EA shows:
Portion Balance = 5248
Total Risk on Account Percent = 25
Profit Targe = 36.40
MaxProfit = 8.15
Starting lot size = 0.26
How can you have Portion Balance higher than Initial account amt? Also the lotsize and Risk is too large for $2500. Please use the inputs above to test and you'll see what I mean.
Please take a look and fix. Thank you!hedging ban
Iron,
Piplite currently triggers a hedge trade at some point when a trade or multiple trades have gone against you . It doesn't happen frequently but it is part of the system strategy.
What have you planned for when hedge trading is banned by US regulators? Target implementation for the ban is sometime in May -- all too soon.
Thanks,
saintmo
Here is the artical
National Futures Association | News Center
J
Clear Now!
Iron,
Thank you so much for your clarification. It makes sense now. You guessed it correctly. My account was $10496. Now is $10566 :-)
How do you calculate the initial account? Is there a logical way to calculate a reasonable initial account amount instead of guess work?
Thanks. Keep up the great work!
You misunderstand what the overlay information is giving you. Portion Balance is your actual account balance divided by the portion you set. Initial account is the amount you don't want to continue trading at should your actual account balance drop below that figure.
So, on the first instance (example) you have below, you have set you initial account at $2500. Your portion is at 4 so that tells me based on your portion balance that your actual account balance is 10496, right? Now, Piplite calculates the lots based on your account balance therefore, because you have IBFX set to true, your base starting lot size is correct based on your risk of 5.
Your Profit target is correct as well because this is based on the lot size and skew. With lot size of .13, profit target is (.13X100)/10 * 14 which equals 18.2...you'll see this in the code.
Finally, the total risk on account is 13 and that is correct too. 50% is the EP set into the Stoploss amount. Your portion is 4 therefore your total risk on account is 50/4 = 12.5 rounded up = 13. Which is the same as saying if you hit EP, you could loose 50% of your portion balance. That amount is 1312 which is 13% of your total account size.
I hope that explains what you are looking at.....
v/rNot Trading
Hi all,
Just checking to see if anyone has had problems with the ea not taking trades. I have been running new version of PipLite for about a week now and no trades so far.. I have an ibfx micro, so that is set to true. Other than entering the correct account ballance of 10000.00, the rest is "out of the box". Thanks in advance if anyone has an sugestion!!
Hi
I would just like to thank you for this EA and all the time and effort you put into a profitable EA that is free for all to use. I have been using the previous version on demo in forward and have backtested and found it to be very profitable.
I have now gone live and making money.
Cheers
All,
I've been busy developing other EAs but I haven't forgotten Piplite. In fact, Piplite is one of my 3 EAs on my live account that just sits there and continues to make money.
I have made several modifications to ensure Piplite continues to trade across multiple broker platforms. I have removed the set file from the first post and encorporated the information into this new version of Piplite v3.0. You can find the new version here.
I decided to go with a jump from v2.1 to v3.0 due to all the changes implimented. You will find a list of the complete changes on the first post. I have attached here three backtests for reference to show that Piplite trades on 4 decimal, 5 decimal and micro (penny a pip) platforms and accounts.
To answer some questions, Piplite has a time filter on it to trade 12 hours starting at 21 GMT and ending at 9 GMT. This time frame has helped Piplite to stop huge trend movements and proves to be the best overall. Just set the new GMT Offset for your broker and you're set. Piplite will continue to monitor all open trades all the time to ensure that you can close your "basket" of outstanding trades in profit. The time throttle is there mostly to stop too many trades from being opened.
Piplite will set the right aRSI time indicator period during it's calculation but you must place it on the right timeframe! Piplite is now only recommended to trade the GBPUSD on the 30 minute chart as all other pairs have proven unsatisfactory during this current market condition.
Piplite plays well with other EAs as generates a magic number based on the pair you are trading. Piplite will also autodetect your broker decimal (4 or 5). You will need a broker that trades down to the micro lot (.01) as any other lot size higher will kill your account! Penny a pip account types will need to set the new IBFX micro value to true.
Remember, there is no set file now. Piplite is good to go, right out of the box for GBPUSD on a 30 minute chart. You just need to set your specific account details and your risk tolerance parameters. Piplite is an equity trader so no TP is sent to the broker and if you have POSL turned off, no SL is sent to the broker either making Piplite inherently stealthy. If you experience spotty internet connections, I recommend turning POSL on to have a stop loss based on the Equity Protection Percentage to the broker. As always, have fun! I've made some good money with Piplite with the settings that are in it right now! Enjoy!
Happy Trading
v/r