The times I posted are MP's estimated times of market reversal in terms of EST. The times need to be translated to your broker's time and less 45 min in order to not miss the reverse if it is a little early. So since my broker is GMT, 10:30 est translates to 15:30 GMT and 45 minutes before that is 14:45. So the trades were taken at 14:45 for that particular execution of the EA.

Azmel posted all the relevant times in a document included in his zip file with the latest EA.

Thank you saintmo.I think I got it now. But the very first post mp wrote about this hedge, he said "at exactly 8pm est " place the trades, That was what confused me, but I will follow the times in the doc now.

I placed me hedge trade on North Finance but when I tried to do it on ODL it would not allow me to place the bid. I know they are out of Britain, I don't think that would have anything to do about it.

Maybe they don't allow hedging?

But I have all the times on a sticky stuck to my puter! raking in the millions LOL.

__________________
Thanx,
Have a Great Day !
Craig Weaver

On the next hour, EA will reset to say "next trade will open at..."

This is fine. No bug. Disregard this message.

I'm not sure about ODL, but North Finance has a rule prohibiting any TakeProfit value of less than 10. If your TakeProfit setting is less than 10, NF will refuse it.

I suggest you open a demo account with Alpari which allow TP<10. It has a spread of 3 which is better than IBFX. However its server clock is GMT+1 so you will need to add 1 hour to every hedge times stated in the instruction sheet.

Yes, originally mp6140 suggested to place a hedge at exactly 8pm EST. Later in his posts, he revised new times that place hedges 45 minutes before the reversal times, including the 8pm EST. I understand it can be confusing. I will modify the wordings on page 1 to clarify.

The hedging times are highlighed in red. If your broker's clock is not GMT, please adjust the times accordingly.

Thanks azmel for bringing this EA to our attention.

I am using a $300 IBFX micro account in which 1 pip = 1c and only have had 3 trading times to date. Using MM activated and the Account 3 setting this EA has surprised me.

It was a little Draw Down scary at one time after the last hedged trade was closed and the floating position had moved to $60 in the red but price movement is the way this EA overcomes it's difficulties.

John

Attached Images

2008-02-11_220206.gif (51.5 KB, 715 views)

John,

I see that you set the TakeProfit=10. This can be a little bit scary especially for IBFX as the broker has pip spread of 4 for GBPUSD. Based on your settings, the market will need to move 14 pips either direction to hit both TP lines.

mp6140's broker only has a pip spread of 1 and he uses TakeProfit of 5. Therefore for him, the market only need to move 6 pips either direction to hit TPs.

To reduce the risk of the hedge not hitting TPs, reduce the value accordingly. To get the same risk level as mp6140's on IBFX, use TakeProfit=2. Your profits won't be as lucrative, but with seven hedges per day, that's 28 pips in the bag.

IBFX doesn't like TP = 2 pips. This is one of the reasons why MP6140 doesn't like IBFX and suggested different brokers for this type of strategy.

Yesterday when the market opened I used 2 brokers for demo, North Finance and ODL. MP, I did both of your systems and made a $1392 profit from both, $440 from this one the rest from your other system where this thread was located before moved here.

I also made $608 from OzFx.

Thanks for inviting me over here and sharing your methods with me. I hope one day to share with someone else.

__________________
Thanx,
Have a Great Day !
Craig Weaver