Here is a sreenshot of my GBPUSD pair. There is no signal, therefore it is a no-go to open trades. However, I believe OzFx's chart is different because in his email, he open short on GBPUSD.

Attached Images

GBPUSD today.jpg (162.6 KB, 831 views)

Hi Azmel,

Let me clarify my earlier post. I did not state it missed those trades. The ea only opened one trade and that was on the pair I mentioned. It did not open any other trades. I do not know if the ea missed them or not. I do not have any screenshots because I closed the mt4 platform.

Jeff

Hi Azmel,

Thank you so much for your GREAT JOB !!

This morning I was running your Ozfx ver 1.5 with 9 pairs ( exclude JPY, like your suggest ).

My question's :

1. How much minimum equity from your suggest if we are using Ozfx ver 1.5 ( default setting ).

2. Did you was open the position until now ??? ( Cause untill now, there is NO open position with my trade. I'm using $ 1500 and default setting in 9 pairs. )


Thank you Azmel fro your explain and KINDNESS.


Best regards,
Paulinge

Nice system..
I been try using ozfx 1week.so far so good.
you right azmel thank Q for ur explain...

===Yuppy Teen Forex Shawonchi====

Paulinge,

Rather than determining how much minimum equity to start with using the default setting, let's work the other way around instead and calculate how big the lot size will need to be given a starting equity amount.

To answer this question, you need to ask yourself back two important questions, which are:

How big is the profit that I want?
How much money that I prepare to loose if the trades go bad?

Now let's start with the first question. If we take OzFx's post #33 as reference, this month he is netting 520 pips already, and it's only half month in February. In his footnote, he mentioned that last month he scooped 1720 pips in total. Okay, for the sake of calculation, lets say that the average pips per month is 1500 pips.

If you want 10% profit per month on your $1,500 capital, then that works out to $150. With 1500 pips at at $10 per pip per lot (for standard account), then for you to achieve this target, your lot size will need to be 0.01 lot.

Here's the math:

0.01 lot x $10 per pip per lot x 1500 pips = $150 profit.

Now let's calculate the losses. In his post, OzFx highlighted that he has a 26/31 success ratio. In other words, out of 31 trades, 5 will go bad. Let calculate how much you will loose if 1 goes bad.

The default setting is a stop loss of 100 pips. The EA will open 5 trades so that's 100 pips x 5 trades = 500 pips. Using the same math above:

0.01 lot x $10 x 500 pips = $50 loss per bad trade.

Now OzFx doesn't say how many trades he make in one month. Let say in one month there is 31 trades (for example only), and your luck is really rotten that your first five trades all went bad. So your total losses will be $50 x 5 = $250.

So based on the default setting, $1500 should generate 10% profit if we are based on OzFx's statements, and if your luck went bad and looses five times in a row, you will loose 16.7% of your equity.

Oh yes, the EA can trade JPY pairs if you wish. The only problem is when you are using MoneyManagement. If you are using MoneyManagement, then multiply your leverage by 100.

I will address all of this in version 1.6

Regards,

Azmel.

Hi Azmel,

Thank you so much for your explanation. VERY CLEAR and make me understood.

Another question's :

1. In your Ozfx version 1.5 there is note like this :

//| VERSION HISTORY |
//| 1.0 - Initial version with AC and Stochastic indicators. |
//| 1.1 - 200SMA filter added by Matt Ebersviller. |
//| 1.2 - Recorrected the 200SMA rules and rewrote closing |
//| subroutine when new signal arrives. |
//| 1.3 - Debug the closing routine of the 5th trade |
//| 1.4 - Debug a bug not taking longs when a valid signal arrives |
//| 1.5 - Trades will only be placed on 0000hrs (broker's clock) |
//| only. Rearrange codes.

Can you helping me to understand the meaning of to version 1.5 ????

2. What the meaning of " Slippage = 5 ".

3. Did we have change setting for your Ozfx EA to running it. ( Cause until now from early morning, there's NO open trade. Is it right or NOT the same with your trade. )


Thank you so MUCH Azmel', for your explain and everything you have DONE.


Best regards,
Paulinge

This EA will look at the charts only once a day and that is at 0000 GMT broker time. After that it will sleep for 24 hours and look again on the next 0000 GMT. If it does not open any trades this morning, it won't do anything until the next 0000 GMT.

Slippage is the difference in pips that you are willing to accept from your asking price when you open a trade. Suppose you want to buy 0.1 lot of EURUSD at a certain price. Let say the market moves very fast that the price changed quickly. If you specify slippage, then what you're saying is that you're OK if the market changes by this much pips by the time the dealing desk approve your purchase. And if the price does change, then the purchase will go ahead anyway because you have specify that you are OK with the changes.

Halo Azmel,

Thank's again once more for your explain. I know you are GREAT Man. !!!
How long you have a skill programmer ??

Please DON't You Mind if I give you for the last question.

//+---------------------------------------------------------------+
//| Account Type Initiasation |
//+---------------------------------------------------------------+


if (AccountType==0)
{
PricePerPip = 10;
DecimalCorrection = 0.5;
DecimalPlaces = 0;
}

if (AccountType==1)
{
PricePerPip = 10;
DecimalCorrection = 0.05;
DecimalPlaces = 1;
}

if (AccountType==2)
{
PricePerPip = 10;
DecimalCorrection = 0.005;
DecimalPlaces = 2;
}

if (AccountType==3)
{
PricePerPip = 1;
DecimalCorrection = 0.005;
DecimalPlaces = 2;
}

What the meaning for that logic ??? Do I have chosing one's typical Account or always using Default from you make ( in the version 1.5 you using AccoutType = 3 ).

Please forgive me Azmel', if I'm disturbing and make you uncomfortable. But like I said, You are the One's a GREAT Coder in this forum. And I want to learning from you.

Thank you so MUCH for your explain and KINDNESS Azmel'.


Best regards,
Paulinge

Go to my post # 48 where I have explained what AccountType means.

On the next version I will make AccountType automatic, i.e. the EA will know what kind of account that you have, so you won't have to worry about what to key in anymore.

Hi Azmel,

Oz opened a trade on the cad/jpy a few minutes ago. The latest ea did not open any trades today. Did you get any open trades on yours?

Jeff