Glad to hear that. When I back tested it for the current year with no TS or BE, my results were within 40 pips of Marks.
Thanks for your kind help.
Glad to hear that. When I back tested it for the current year with no TS or BE, my results were within 40 pips of Marks.
Thanks for your kind help.
All this talk of being stopped out at break even and stuff. According to 2 brokers, took a sell, went neg 40 pips with a high of 1.5685 and FXDD never traded.
Just be glad you survived the high before the market went down again cause I didn't. 😢
JOHNCO,
Same thing with me so I talked to MArk about it. He has a new version of the EA on the download page. Reload the EA and it should work, this worked for me.
Mitch
jrcollins2009
Junior member
- Messages
- 22
- Likes
- 0
Can Mark please inform us via e-mail when new versions are released? Can the releases be numbered so we know the version or date released?
Mitch,
This was the EA -- ForexMorningTrade_EA.ex4 -- that I downloaded and used yesterday, so I don't know if it's new. Because the EA was about as responsive as a statue of a dead turtle, I had bailed out and switched to manual, so I don't know if the BE and SL worked. But it would be nice to know what version caused the problem before risking more money on it.
Can you please share the new version number?
Also, I wondering if any other Windows XP Professional user has an extremely unresponsive EA.
Ivan
My EA didn't enter a trade this morning, either. The indicators should have triggered a short, but there were no error messages.
Bru
jrcollins2009
Junior member
- Messages
- 22
- Likes
- 0
On FXDD and Forex.comUK I did not have a trade. On IBFX it took a Sell order but DID NOT respond to the BE parameter (15), proceeded up to +27, then reversed and closed at -33! What should have been a small profit or BE came out a pretty large loser. The BE parameter worked great on Monday's trade. Very frustrating.
bluedancer
Well-known member
- Messages
- 363
- Likes
- 2
ok it makes perfect sense to me. The trailing stop on the EA works different than the trailing stop you would set yourself on the MT4 platform. The TS on the EA will follow the trade pip by pip. You set it at 40, so at 1.5633 it was moved to 1.5675 = 42 pips. The difference is the spread and whatever small spike you get from your broker. On a SEll order the close price is the BUY price, and the chart shows the Sell price, so you must note the buy price at the time the EA set the stop at 1.5675.
The Trailing stop does not affect your TP, it stays the same. Other people leave the Trailing stop at 0, and just wait for 24 pips profit to move stop to BE either with the EA or manually. This way you give the trade more leeway.
If you let the EA take the trade with the TS set in it, the trailing stop with kick in as soon as the trade is open and goes 1 pip against you. If you use the trailing stop that you set yourself after the EA opens the trade and you set it yourself by right clicking on the trade you want to adjust, your trailing stop will not kick in until your trade has increased in profit by the amount of the trailing stop.
The idea of using 80 pip TP and move to BE at 24 and Trailing stop of 40 is a longterm trading strategy. The idea is to get those trades with 80 pip profit and to have a lower drawdown, which the trailing stop does. Review Mark's stats on his tested systems to see the difference. The idea is to choose one strategy for the EA and stick to it. If you trade manually, you have many options.
I hope this helps.
Blue ~ Happy like the sky
bluedancer
Well-known member
- Messages
- 363
- Likes
- 2
Hi Johnco,
I also did not have a trade with the EA last night, on both alpari and fxdd. The indicators were really close to zero, and personally I think it was a risky trade. Many ended up with BE or a loss depending on their settings. Only a few got out with 40p profit from the EA and that was a low spread at their broker. On Backtesting there were many times with a few days in row no trade.
It seems we need to spread the risk at a few different brokers... 🙂
bluedancer
Well-known member
- Messages
- 363
- Likes
- 2
No you are not correct. It was just a coincidence that the trailing stop stopped you at -24 and that had nothing to do with move stop to BE at 24. If you look at the progression of the trade it moved up, then down to what +16p on your broker and then back up to hit your 40p TS. Remember the close price is the buy price at the time and that is what the trailing stop follows, then of course it shot up to hit your stop before dropping again to your +24p so you could get BE.
hope this helps,
Blue
Hi Bluedancer,
From my understanding, I thought the EA will move your SL to BE once you are in profit by 24pips. If your trade never reach positive 24pips, then SL will never move to BE. The initial SL should have stay put at 40pips. So, in my case where the price never reach a positive 24pips, I am assuming everything should have stay exactly where the entry price, SL and TP as at, but rather the SL today was moved to 24pips and I got stopped out.
If the EA setting today was correct, then the market went up, down, and then way up, so within the trading range today, the EA should have move the SL to BE and you should be out of the trade with only breakeven and not a lost of 24pips.
I hope the EA setting is correct, unless Mark had it program in a different way.
Thanks
bluedancer
Well-known member
- Messages
- 363
- Likes
- 2
No he was wrong, there was an up and down move on the trade and the trailing stop moved properly, moving down sequentially 40 pips behind the actual buy price. that it close at -24 is just coincidence
bluedancer
Well-known member
- Messages
- 363
- Likes
- 2
NO. The trailing stop in the EA moves pip by pip and is not the same as the regular trailing stop you set yourself. I explained in another post. hope this helps!
bluedancer
Well-known member
- Messages
- 363
- Likes
- 2
That would be correct if you set your trailing stop in the EA to 0, but you set it to 40 and so the SL moved pip by pip with the price.
bluedancer
Well-known member
- Messages
- 363
- Likes
- 2
The EA actually has 3 SL settings that each work on their own:
1. SL of 40 pip
2. move to BE at 24 - so yes at 24 pips profit the SL moves to BE
3. Trailing stop - it follows the price pip by pip, and moves the original stop pip by pip
If you set all 3 then all 3 work and one of the 3 will close the trade or the TP will close it.
rrobichaux
Newbie
- Messages
- 7
- Likes
- 0
Marc did change the EA.
The first revision was done 0n 09/13/10
The second revision was done on 09/16/10
Please check the date modified next to the EA's description in the download folder.
Remember the newest version was modified 09/16/10.
Bobby R.
Smiffy42
Junior member
- Messages
- 48
- Likes
- 0
Don't know if anybody answered this for you. But, it seems to me that the SL was trailing at 40 pips, which would happen from the beginning, once you enter into any profit. Then, if your gain hits 24 pips, the SL would jump to BE. Once at a gain of 41, the SL would begin to trail again.
From what I read in the EA instructions, there is no indication that the trailing stop doesn't begin until a gain of 41 pips is reached. Following your reported price levels reached, the SL would have moved up. The couple of pips different between the lowest price hit and the SL exit would have been due to spread, I'd figure.
From what I read in the EA instructions, there is no indication that the trailing stop doesn't begin until a gain of 41 pips is reached. Following your reported price levels reached, the SL would have moved up. The couple of pips different between the lowest price hit and the SL exit would have been due to spread, I'd figure.
