Williama's Trading System

[AsstModerator]

Make sure to test this EA very carefully in a demo account before trying live trading. You need to have an idea of how much money is required or else you could have a margin call and wipe out your account.

 

[achewz]

Still having problem

Thank you for your respond, Onyebuchim C. Obike and AsstModerator. Sorry to trouble you again.
I only manage to download the EA to MetaEditor but could not have the downloaded EA into Expert Advsior. Anyway upon opening the Expert Advsior there are others EA which I tried by draging the EA to the chart, a window pop up, (I check the box, Allow Live Trading, Enable alerts, Allow Import of External Experts,) as for the INPUTS I leave it as it is (as I did not know what to input) and press ok. It works.
Upon doing so, the word "CashMachine-5min" (the Title of EA) appear on the right hand side of the chart.
I waited for an hour nothing happen on the Terminal, no transaction done on the Terminal, it look like I must have miss something. I would be greatful if you can help me again.

Thanks,
Achewz.

 

[Egros]

Just to illustrate my suggestion to trade support and resistance areas I attached two chart with EA of Naufrage which I alter to trade only when it reach one of my levels.On the charts you will see a red vertical line crossing a bar, at this point I set the Support EA to enter when it reached the bottom support line. The value which I entered is what you see on the right side where the white dotted line ends I did the same with the resistance EA . It missed the support line But it made 12 pips when it cross the resistance line. I set the EA for one level.

 

[Onyebuchim C. Obike]

Installing The EA

Thank you for your respond, Onyebuchim C. Obike and AsstModerator. Sorry to trouble you again.
I only manage to download the EA to MetaEditor but could not have the downloaded EA into Expert Advsior. Anyway upon opening the Expert Advsior there are others EA which I tried by draging the EA to the chart, a window pop up, (I check the box, Allow Live Trading, Enable alerts, Allow Import of External Experts,) as for the INPUTS I leave it as it is (as I did not know what to input) and press ok. It works.
Upon doing so, the word "CashMachine-5min" (the Title of EA) appear on the right hand side of the chart.
I waited for an hour nothing happen on the Terminal, no transaction done on the Terminal, it look like I must have miss something. I would be greatful if you can help me again.

Thanks,
Achewz.

Are you sure you downloaded the right EA cos the word "CashMachine-5min" should not appear as the EA name on your chart.

Secondly when downloading the EA, use this directory: c:\program files\FXDD MetaTrader 4\Experts as the destination folder

Replace the FXDD MetaTrader 4 to your broker folder in c:\program files

Press F6 to run a backtest on the strategy tester. Play around with the inputs parameters to suit your trading style.

If it runs well in your back test then you can try it on the demo.


when you placed it on a chart, click on your journal or expert pane to check if it loaded successfully. you should get a message like these:

2008.07.16 17:34:28 Williama_Improved_Allmargin EURUSD,M30 inputs: pips=15; lots=0.1; NbLevels=3; UseProfitTarget=true; ProfitTarget=10; UsePartialProfitTarget=false; First_Target=10; Target_Increment=10; Close_Lots=0.01; ContinueTrading=true; UseEntryTime=false; EntryTime=0;

and

2008.07.16 17:34:28 Williama_Improved_Allmargin EURUSD,M30: initialized

it musnt be like the above but at least a message saying the EA has initialized is ok.

If you did all these right, then there should be pending orders placed on your charts in a few seconds or minutes.

Remember the EA is not fully functional so try at your own risk. We are still testing and gathering information from everyone including you to give an input to the EA in other to have a better design after testing it.

Naufrage has been doing a nice job re-programming this EA.

Thanks.

 

[Onyebuchim C. Obike]

Just to illustrate my suggestion to trade support and resistance areas I attached two chart with EA of Naufrage which I alter to trade only when it reach one of my levels.On the charts you will see a red vertical line crossing a bar, at this point I set the Support EA to enter when it reached the bottom support line. The value which I entered is what you see on the right side where the white dotted line ends I did the same with the resistance EA . It missed the support line But it made 12 pips when it cross the resistance line. I set the EA for one level.

Thats great.
At least you could get it to work according to your support and resistance settings. Your suggestion could be a way to monitor the trend and help better placement in a dynamic way trapping price to our.

Although i havent heard from Naufrage about the adjustments to the EA.

We were looking at placing TP just above or below each immediate pending order and to work on fractional scalping profits before reaching the global TP and so many other things we considered to be programmed with the EA.

I'm hoping Naufrage or anyone good in programming mq4 would come out with something better.

Thanks.

 

[achewz]

Thank You

Thank You very much Onyebuchim C. Obike, I manage to get it, it is working.

Thanks
Achewz

 

[Naufrage]

Hi Onyebuchim,

Sorry to be silent so long, I have been kind of busy lately. I too think the idea of using support/resistance level to place orders is great and could avoid bad situation. And I understand better now what you mean by trapping the price.
So back to work, I'll see what I can do.

For the suport/resistance level, for those of you who have already used it, which timezone is the more accurate? GMT? EST?

 

[Naufrage]

Hi Naufrage,


I see all of EA here will trade with a BIG DD. Do you agree ?

So.... I have an idea... why don't we turn this BIG DD to... BIG PROFITS ? HOW?

You just need to use the EA 2008-BUY-SELL Rev1. BUT you change Buy stop to... Sell limit and Sell stop to Buy limit !

So instead of BIG DD now we have BIG PROFITS oh:!!!

Could you try to create this EA ?

Thank you,

Unfortunately this would work only if on some occasions, and on the other we would have big drawdown. And we can't "trap" the price like that.

I'm running the EA now only using 1 level and 15 TP and I have a huge amount of orders open as it's almost touched on the target levels but not quite reached them for the last 6 hours.
I was wondering if you can make a version that doesn't p[lace orders in the middle so to speak, but only on the ends 15 away from the targets?

Thanks,

Edit, It finally reached one of the targets after 11 hours, but there are so many orders that the EA or the server can't keep up and close them all, it's been doing it for 15 minutes now and since the price has now retreated I'm only getting 1 pip profit on some of these. I think if it didn't have the middle level there would be much fewer open orders.

The thing is that with only one level, the losses are twice as big as the gain, so to cover one loss of 0.1 lot, you have to place 0.3 lot of opposite order. Then to cover the 0.3 lot of opposite order you have to place 0.9 lot etc...
You see how fast it goes.

Hi Naufrage.

Just finished running a backtest on the EA.

The Input Parameters is perfect. You can also add the Maximum Loss to the parameters

The Margin is too high for some accounts. I was thinking it would be nice to allow a lower account margin to allow all traders with high or low income to benefit bcos i received "Not enough free Margin to begin" message when it initializes with lower account sizes. I had to edit the file and put "100*lots"

The space between the pending orders is ok. If we maintain that Gap as price moves, then thats what i mean by a dynamic cage.

Reduce pending orders.

I also got some close order error. quite normal.

The TP is still placed outside the last pending orders. I think you got the right placement from the last thread you inquired about

take profit 2
buy level 2
take profit 1
buy level 1

sell level 1
take profit 1
sell level 2
take profit 2


I didnt see much of the scalping profit, i.e taking fractional profits. I had to use a very low take profit value to test but i couldn't see it.

If its ok i'd want to talk live with you so i can explain better

onyeobike@live.com - windows messenger
onyeobike@yahoo.com - yahoo messenger/email

I had a problem when placing take profit closer to ech level. The lot size have to be quite bigger, since there's less pips of profit. And when the price retraced back without hitting this TP, the pending orde to be added had to be even bigger than before. And while the tp is more often hit, we're much likely to run out of free margin, and in the end the profit is not bigger :/

If only we could place take profit two or three pip away that would probably be ok, but I didn't know of a broker who allow such little stoplevel.

 

[Naufrage]

Just to illustrate my suggestion to trade support and resistance areas I attached two chart with EA of Naufrage which I alter to trade only when it reach one of my levels.On the charts you will see a red vertical line crossing a bar, at this point I set the Support EA to enter when it reached the bottom support line. The value which I entered is what you see on the right side where the white dotted line ends I did the same with the resistance EA . It missed the support line But it made 12 pips when it cross the resistance line. I set the EA for one level.

There seems to have many way to determine support/resistance lines. Can you tell me which formula do you use? Along with the timezone maybe.

 

[Naufrage]

Onyebuchim, regarding your idea of trapping price in a dynamic cage, isn't it what the EA already does with dynamic profit target? Let's say the profit target is 10 pips. When a buy or sell level is hit and the profit reaches 10 pips, all orders are closed and all pending orders deleted, and a new "trap" is placed according to the current price. Am i wrong?