TheRealDude:
No trades in 24 hours on 7 pairs on a demo account. Shouldn't there be at least a one?

Mick Prater:

JPY pairs are the best, I have best results on the H1 time frame. There are no set files and there are only a few settings so what you need to do is run an optimization. Select all the settings

• ATR Multiplier start: 40, Step: 20, Stop: 200
• Stoploss risk start: .005, step: .0025, stop: .03
• tenkanSen start: 4, step: 1, stop: 12
• kijunSen start: 15, step:1, stop 30
• senkouSpan start: 30, step: 2, stop: 60
• kumoJoy start: 10, step: 10, stop: 300
  

hit the optimize

Start with that

Then run optimize for the last quarter. It will take a few hours. I try to run it quarterly, any more than that is probably too much. For me, the settings don't change that much, as they shouldn't. You need to do that for each pair you plan on trading as they seem to have their own character

Mick Prater:
I get about 1 to 2 a week on usdjpy H1, sometimes more sometimes less. If you want to get more trades maybe try changing the Kijun-sen to 16. The lower the Kijun-sen value the closer the chikou span line gets to the price line. If you change the settings you should probably just run the optimizer on the whole thing.

Yvonne:
Ive just bought the green dragon and I cannot see any inputs for these variables

• ATR Multiplier start: 40, Step: 20, Stop: 200
• Stoploss risk start: .005, step: .0025, stop: .03

Mick Prater:
I get about 1 to 2 a week on usdjpy H1, sometimes more sometimes less. If you want to get more trades maybe try changing the Kijun-sen to 16. The lower the Kijun-sen value the closer the chikou span line gets to the price line. If you change the settings you should probably just run the optimizer on the whole thing.

TheRealDude:
Ok, I have a demo account with PaxForex that I'm using for testing. The Kumojoy value is currently -140 on the USDJPY and there have been no trades on any pair. When I put the Green Dragon on an MQL5 Demo account on usdjpy, it IMMEDIATELY executed a trade with the setting that I'm using from PaxForex! I notice that the KumoJoy value is 32...vastly different.


When I speak with their representative they assure me there are no policies working against me, and they mention something about spreads. What I know about Forex trading I've been forced to learn, and being a programmer I prefer a set of rules that rule out emotions. I've been dabbling in Binary Options, but there's no broker that I trust in the U.S. I'm not exactly sure about PaxForex! But you have to start somewhere.


Any advice? Is it a spread issue? I look forward to your response.

Mick Prater:
there shouldn't be that much difference in the kumo size between different brokers, also the spread shouldn't affect the EA by much because its not a high frequency trade EA. If you are in the US save yourself the trouble and open an account with FXCM. I know US accounts are limited to 50:1 leverage but honestly anything over 10 is not realistic from a trade management perspective. They are an ECN broker and a publicly traded company so security, withdrawing and  deposits are easy. I have used a few overseas brokerages and had inconveniences with them all. So I gave em up.

As for the EA, a negative kumo is a down trending kumo and positive for up. The fact that they are opposite on your accounts is wierd. If you can set up the Ichimoku indicator with the same settings your using for the EA then you can watch it and see if there is actually a trade signal to begin with. The EA will open a pending order when the chikou span crosses price action so you can watch and see if it happens. The rule examples are in the screenshots I have posted.

Mick Prater:
I was just looking at paxforex website and it reminds me of the ones I have used. I have tried LMFX and FXGlory. After I tried to make a deposit with LMFX I had a bunch of fraud attempts on my credit card from around the globe, thankfully my bank blocked them all! And with FXGlory I am still trying to withdraw my balance and close the account. I use FXCM for forex and have been really happy with them. They also have like 1% of all forex market through their brokerage so you can get real trade volume data, which is cool, and the have an indicator that shows the current open order interest, and that I follow religiously. Its called Speculative sentiment indicator https://www.dailyfx.com/sentiment and it tells you the direction that the 'Crowd' is trading. I take the opposite. I have Green Dragon running on 2 pairs and I will only allow it to trade in the direction contrarian to the crowd. I also use TDAmeritrade for equities and futures, they are also really good for FX too. I just dont use them because they don't use MT4.If they did I would use AMeritrade because I can trade all the instruments with one brokerage. Anyways thats my 2 cents on brokerages.

Mick Prater:
maybe its TDAmeritrade for me after all

Mick Prater:
I haven't looked into forex.com - looks like the current spread on EURUSD for TDAmeritrade right now is running about 10 pips on 5 digits, that looks pretty good. They have a commission option too that seems a bit high to me , .10 per thousand with a $1 minimum. I guess that would be good if you did high volume trades. Problem is TDAmeritrade doesnt use MT4. They have thinkorswim which is what I use for equities and futures. There is a scripting language for automation but I haven't even attempted to learn it

I just read an article about the FXCM thing and it says forex.com had a few problems in the past too. I still think the US companies are better than dealing with overseas issues. Unless you can get into swissquote or dukascopy. They don't allow us traders though.

TheRealDude:
Mr. Prater, I am Demoing on Forex.com, have been able to run the optimizer for the last quarter for all jpy pairs, it's made 4 profitable trades so far. My question is: shouldn't sell stops close automatically? It has done 4 of these, and none have closed. It's done straight sells and those have closed.

Mick Prater:
there shouldn't be multiple orders. It checks for open positions or open stops before placing an order