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Trading Made Simple the right way, and other trading lessons 334 replies
to whom it may concern 23 replies
Whom to trade CFDs with? 5 replies
Who is copying whom? 8 replies
If we trade "off-exchange", with whom do we "exchange" with? 3 replies
In each case, a setting of "0" would mean the bot would ignore this setting.
So if I have item 1 above set to "1", and I had say two instances of the bot with different settings trading then: Say instance one sends a buy EURUSD trade. This trade is opened. Now 33 minutes later, instance two has all signals confirmed for a buy trade on EURUSD. However, before opening the trade, it checks the currently open trades and finds there is already an open EURUSD trade in place - so it then does not send its own live trade.
If item 2 above is set to "2" and I have and AUDUSD buy and a USDCHF sell open already, then if for example a EURJPY sell set up occurs, it would find that the total number of all currency pair trades currently open is 2, and so it would not send its own trade.
(2) An option to allow the closing condition to kick in only after a certain number of pips / a certain amount of ATR has been covered.
Now, what I mean is this: Right now you can set the bot to close on things like the TDI going flat, or the candle color changing. However, at present these conditions are allowed to trigger at any time to close the trade.
With the suggested addition above, we would be able to select to only allow trade closure under these conditions if the trade had already moved a certain number of pips or ATR distance into profit already.
What this would allow us to do is to let the trade run more effectively without stifling it as it is just getting going.
So, right now price action might falter shortly after entry, resulting in a trigger like one of these closing the trade for a small loss or small profit, but after that the price action was such that it would have gone one to win a decent amount.
On the flip side, if we want to let our trades run, we need to set a quite distant TP, which we cannot always be sure it will actually reach.
With this setting I could say set my SL at 1.5 * ATR and TP at 3 * ATR, and then I would then say (for example) that I did not want the bot to close trades based on any of those conditions - TDI cross, price candle changing color etc) until the trade had moved at least 1 * ATR into profit.
I hope this makes some kind of sense. Do filter these requests to decide if you think they are worthwhile.
Thanks again for your hard work.
Cheers
Invisible
Disliked
- Max number of open trades per pair
- Max number of total open trades
In each case, a setting of "0" would mean the bot would ignore this setting.
So if I have item 1 above set to "1", and I had say two instances of the bot with different settings trading then: Say instance one sends a buy EURUSD trade. This trade is opened. Now 33 minutes later, instance two has all signals confirmed for a buy trade on EURUSD. However, before opening the trade, it checks the currently open trades and finds there is already...Ignored
DislikedDude... we already have that... MaxOpentradesjust set it to truee in the settings, then choose the number.
I was the one who proposed it..
I'm not invisible, I'm Pedro Blas, lolIgnored
DislikedI would like it to be applied globally, and it can be restricted to the EA trades only by having it reference the magic number so that it will not interfere with other trades.
I made my suggestion here, but perhaps I did not make it clearly enough.
(I did check the manual before I posted above as I had thought that it was already global, but then when I read the manual I realized that this was not the case.)Ignored
Disliked@ Seller9
There are 2 reasons a user may wish to use this: First, currency moves can often be correlated. So if I have three trades on three correlated currencies running concurrently, then I am effectively taking 3 x the risk on one market move.Ignored
DislikedSteve Hopwood uses this in all of his EAs, called "Zeljco", so the code could be implemented into TMS EA.Ignored
DislikedAny luck with any set files using the CCI yet? I haven't had time to try any yet, seem we are getting close to indicator overload.
What happened to trading made simple? LOLIgnored
Disliked
...I am using your set file since it is very close to the original concept of TMS...Ignored
Dislikedhi astral77
would you mind sharing your set file that you say 'very close to the original concept of TMS'.?? is that same with seller set file??
thanksIgnored
DislikedTotally agree. The Zeijco thing could come handy.
And also, what i'm missing would be a scalper originated MM: auto lot size based on eq / balance percent (with that, a %based SL could be useful too).
Seller9: Have you seen Steves new Spider EA? It uses Hannover module to check for strong/weak currency pairs to trade with. I know that this thing is new, but could be worth a go.
Best regards and have a good weekend!Ignored
DislikedI have been working on something similar that will display a bar graph that shows the strength difference between the pair you have the EA on and shows you which dirrection to trade...Ignored
QuoteDislikedI have been working on something similar that will display a bar graph that shows the strength difference...