I agree in general, however, this is "Day Trading." It is more like Scalping when you only trying for 20 pips a shot.

The problem with the system seems to be that you can get a lot of consistant gains and then one big loss can almost destroy all the gains. I prefer a more conservative approach with consistant gains and controllable losses. I understand what you mean about "staying in that trade." However, it could also destroy your account too by not cutting losses.

I subscribe to a forex signaling service that recently decided not to "stay in the trade" and cut their losses. Unfortunately, that loss was almost 300 pips!!!

I don't mind a 60 or 80 pip stop loss but more than that seems like you are trying to stretch. That is why I am trying this system out on 3 computers running three different settings. I will share with the groups which ones do the best.

I have decided to have two computers trying the 15 minute charts with a 70 pip stop-loss (instead of 100).

I like the consistant profits this system generates, I just don't like the massive draw-downs. All it would take is for two massive draw-downs in a row to completely whip out any profit you would have made for a month. That does not seem reasonable. Too much risk for trying for only 20 pips.

Just a thought.

Peace.

Hi,

You don't need 3 different computers to run 3 different terminals, 3 (and more) terminals can run on the same computer.

Just install the terminals into different folders at setup:

If you need more detail:

1. double click on mig4setup.exe
2. choose your installation language and agree to T&C's
3. set installation folders eg

C:\Program Files\MIG DayTrading Test 1

then go through rest of setup.

When this setup has been finished, install another terminal in a different folder. So repeat 1. & 2.

At 3. choose C:\Program Files\MIG DayTrading Test 2

for example.

Thanks, Treberk!

Your suggestion is one of those where I slap my forehead, and ask myself, "Why didn't I think of that!"

Now, the wheels in my head are turning.........How many EAs can I have running at the same time (on separate MT terminals, but the same computer), to test, etc.

Or, I can use 1 terminal to test an EA, and use a separate terminal for manual trades.......

To quote the Gyro Captain from Road Warrior: "Think of the possibilities!"

__________________
"All the world, is birthday cake, so take a piece, but not too much." - George Harrison

@treberk:

thank you for your modif for MT build 190

I tried to run EA daytrading333, but i see note in expert folder:

2;75;C:\Program Files\NEXTT 4\experts\DayTrading3.mq4;193:48;'SPEECH_ENGLISH' - variable not defined

Is it okay?

Hi, you did not download the version I posted previously, it would not be saying that because this was specifically disabled in the EA that was posted previously. Anyway download the version that will be posted next.

Hi,

here is the latest modification. The previous version posted did not seem to adhere to the stoploss that was requested, i.e in this case 100 pips.

This version fixes that (hopefully!)

(Remember, that if you want to conduct the same test that Sadaloma is doing that you need to use the MIG MT4, which can be downloaded here http://www.migfx.ch/fileadmin/downlo.../mig4setup.exe. EA goes on 15min charts.)

Attached Files

DayTrading444.mq4 (9.3 KB, 106 views)

By checking the code, it seems that it uses stochastic and momentum very simply, and its comment said no stop loss. It seems that it was build upon a very simple theory, and place order with ordermagicnumber() = certain value, what is this one? does anyone know?

I hope that you test it thoroughly before putting onto live account. take care.

I have had some good luck with this EA. However, I believe a StopLoss of 50 would be best. No stoploss is frightening.

Anyhow. I made one modification to the latest build of DayTrading. I added in a timefilter to it so that it will not trade but during the heavy volume hours.

Works best on M15 timeframe. USDCHF, EURUSD and GBPUSD currency pairs with timefilter on.

Have fun.

Attached Files

DayTrading5.mq4 (9.6 KB, 163 views)

Hi

Sorry guys but I think in script is bug.
When is buying macd should be
macdHistCurrent>macdSignalCurrent
in script is
macdHistCurrent<macdSignalCurrent

Am I wrong?