Bollinger Band Breakout - page 3
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Attached is what you describe. If you want to use the MA as the stop you still need to set the level at which it will come into effect. Say a buy order is placed and the level is set to 20. When the price climbs 20 pips above the MA (middle bollinger band) it will begin setting the stop loss at the value of the MA.
Thanks, man that was fast, will make room for testing Monday after nfp report.
I will test the EA. Thank you very much for taking the time to code this EA.
That disclaimer about my time being valuable, and not to ask questions, ect. I mentioned earlier was just towards other people that may pop in here to take the EA and ask for a bunch of help without contributing. Not intended towards you in any way.
Okay
No problem. We are on the same page
I tired the EA and I get a 130 order error. I am using an ECN broker. Is this due to my broker?
No problem. We are on the same page
It's due stop levels too tiny (inside the minimum your broker allows)
No problem. We are on the same page
I have a true/false flag (otherwise known as boolean) named MultiplyByTen. If set to true, it multiplies the pips you set by ten. I noticed that since my broker uses tenth of a pip, when I set stop levels I need to adjust accordingly by a factor of 10. This being so, I made the aforementioned boolean flag. For awhile I was testing EA's with 6 pip stop losses when it should have been 60 because I wasn't aware of this.
No problem. We are on the same page
It's due stop levels too tiny (inside the minimum your broker allows)
Hello,
You had been doing right. Back to manual trades.
Forget the EA and focus on manual trading. EAs are no way back.
Once you start to depend on EAs It takes minutes to lose your trading skills but months to recover.
Unless you have some hobby. Like killing time between trades meanwhile waiting for the right moment.
On advanced section I had post ONE trade for 1000 pips on a month (600 if SL was hit).
Enough for a year, the you can go bed for while long.
Hello,
You had been doing right. Back to manual trades.
Forget the EA and focus on manual trading. EAs are no way back.
Once you start to depend on EAs It takes minutes to lose your trading skills but months to recover.
Unless you have some hobby. Like killing time between trades meanwhile waiting for the right moment.
On advanced section I had post ONE trade for 1000 pips on a month (600 if SL was hit).
Enough for a year, the you can go bed for while long.The thing about EA's is at least they are consistent, whereas a human makes variable decisions. This translates into adaptability, but also into errors. An EA follows a strategy without variance. I would say that EA's should be a supplement, not a replacement, to manual trading. I.e. use an EA to augment your abilities, not replace them. For example, my partner and I use EA's to enter 20 percent of trades and then manage the trades afterwards (even though the EA can automate this process). The rest of the time we use news, econometrics, and good old fashioned technical analysis.
Thank you
Thank you Linuxser and antisyzygy. I will continue to refine this strategy manually and report back here. You both have provided very good and sound advice.