Thanks celticheart for the template and thanks hayseed for the improved EA...I am watching this on the AUD/JPY M1 in a Demo IBFX mini account with lotsize set at a miniscule 0.01...hehe

ES

It was really choppy last night and this morning, but I am now in a trade started by the ea that is +50 pips (and it executed the breakeven stop perfectly .

I don't think there is any system that will do really well in a very choppy market, and I would not recommend running this at night (I am on EST). Always seems to be more choppy after 11pm, EST until at least 8 or 9am EST.

And please keep in mind I normally use this system manually.... it's a bit different with an ea that will make a trade based on the numbers, that I might pass on just looking at it visually. I am still testing it out, this is very preliminary! Please do demo test it all you like, and you might play with the setting of "EachTickMode" and see if it works better set to true or false.

Yeah I can confirm what celticheart posted...The BE works great!

What would happen if we halved the BE for the night trading?

ES

Hi

Thought I'd add to this thread. I have programmed in a Time Control feature which will allow you to set the time you want the EA to trade, for example 08-14 which will be 08:00 to 14:00. Hope it helps u guys

Best rgds

Attached Files

MARibbonbreakevenTime.mq4 (11.6 KB, 33 views)

Yeah, I think if the market seems really choppy, I would set the BE to 15 or 20. This is something I do myself when trading manually... I look at the charts and if I'm not too sure about it I will set the BE at 20 points or so.

That said.... I have also found that if I'm too careful and set the stops too tight, I lose more profit in the long run that i could have had, than the losses I prevented.

Hi Hayseed

I loaded the EA with breakeven set to 20 and addbreak set to 5. EA opened a sell trade which went 30pips into the profit. EA closed the trade at a loss of $125.00 or 12pips loss. I would have expected it to close the trade at 20pips profit or at the worst 5pips profit. Am i missing something?

Best rgds

Oh, that's perfect! I think it's got everything I wanted now

It seemed so choppy last night and this morning, I waited til about 11am, and it's opened 4 trades so far since then...

1) broke even
2) +27
3) -9
4) +19

so up 37 pips so far. Really, really slow for AUD/JPY, but oh well, there are days like that, I guess. Actually would have made an extra 14 pips without setting the breakeven stop, which happens sometimes, but overall I think it's better to set it.

It's in a 5th trade now, just got started.

Having the time option is perfect... I think generally I'd want it to start around 8am EST and not open anything else after 8 or 9pm.

If there is an open trade that goes past the time it's set to stop trading, will it still close the trade?

It does sound like it should have closed at 5pips profit. I haven't tried out the addbreak feature yet, but the breakeven stop has worked for me so far.

Hopefully Hayseed can shed more light on that

hey fxwealth.... not sure why that happened..... was the trade in a backtest or was it running in a demo account..... was there a gap at that time.....

it might have something to do with the stoploss..... it looks like celticheart used suffix's zero code ..... suffix is calculating the stoploss differently than me.... if the stoploss is less than 30 and the spread wide, the breakeven might not activate.... they use bid where i use ask....

below is suffix's sell side stoploss line.....



here is a backtest, you can see the order was modified at 20 pips with an addbreak of 5..... take a look at every order modified..... occassionaly they will close out at a few cents more than 5 and in real life there will be the occassional one closing a few cents below 5..... and we are at the mercy of gaps, the order will close where the broker wants to fill it.....h

Attached Files

20 and 5.htm (61.4 KB, 19 views)

Hi

Thanks for the response hayseed and celticheart. I reloaded the ea and it opened another trade and closed it off properly. Will continue testing. Celticheart it will continue trading past the close hour until either loss or takeprofit is reached. It will not place orders after the close hour

Best rgds