Scalp the Little Gits, dsu

Scalp the Little Gits, dsu

Postby SteveHopwood » Thu Jun 19, 2014 7:16 pm

SERIOUS WARNING
  • Most Forex traders lose all their money.
  • Using the robot posted here in trading Forex does not guarantee success.
  • Trading this robot could lead to serious financial loss.
  • Trading this robot without understanding its underlying trading strategies guarantees traders will lose their money.
  • This is not a set-and-forget ea; there is no such thing and anyone who tries to claim there is, is either stupid or lying. This ea requires frequent manual intervention.
  • At best, a trading robot is only 90% as good as the manual strategy it trades. At best. At worst, it can be much less effective. If the strategy is rubbish, so is the robot.
  • To trade this robot, you have to understand:
    • How to use EA's.
    • Stochastic.
    • ATR (Average True Range indi)

THIS IS AN EXPERIMENTAL EA NOT YET BEING USED ON OUR LIVE ACCOUNTS

Intro
dsugums sent me this pm yesterday:
dsugums wrote:Hi Steve

Here is new strategy that is quite reliable for scalping. It was being discussed in FF but my version is slightly different. Been using it on live account for a week now and managed to get about 4-10% daily returns by scalping. I am not a fan of scalping but hey whatever that brings the $$ is all that matters. I tried programming it with my limited knowledge of mql, but unsuccessful.

This scalping is 1:1 ratio for 5pips sl and 5pips tp at 2% risk. Stop trading once you get your target for the day.

Rules :

1) Draw daily open line on the broker new daily candle.

2) Use 1H time frame chart



Long trade

1) PA above daily open level

2) Wait for 1H candle to close above daily open level

3) Set pending order at the start of new 1H candle for the next 00 level of pa (eg if 1H opens at 161.56, next pending will be 161.60. Similarly for 1.3456, pending long will be 1.3460)

4) SL and TP is set 5pips from pending.

5) No pending order if next 00 level is more than 5.1 pips away from the 00 level. Example if 1H close at 161.54, nearest 161.60 is more than 5pips away.

6) No trades at 90 level (10pips away from big round number)

7) Retry for pending order only once at open of the candle to avoid orders set when pa slipped back (eg 1H candle opens at 161.01 and slips back to 160.95, the EA might attempt to pending order at 161.00)

Short trade

1) Opposite of long

Cheers
ds



Systems do not come much simpler that this, and it took about 15 minutes to code.

ds is going to come up with some more filters, but he asked me to set the ball rolling here. All the usual stuff is included, so read the Shell User Guide if you are unfamiliar with it - all disabled by default as usual.

Trading day choices
The TradeSunday, TradeMonday etc inputs allow you to control the days on which the ea trades. Some of us have Saturday and Sunday candles; not trading them is a no brainer and so they are disabled by default. ds has suggested that Friday is not good for this strategy; TradeFriday is enabled for testing, but may need disabling if we trade this ea live.

Trading hours and pairs
These are crucial, so I have moved the inputs from their usual place to being the second of the inputs section. I have described how to use them in the user guide, but I repeat some of it here for emphasis:
  • you enter the trading times in your own local time. Forget criminal time, GMT offsets etc.
  • ds says to trade the scalper for the first two or three hours of each session - the periods when there is most activity in the markets. So, if you want to trade the first three hours of the London and New York sessions:
    • wait until you know the markets are just opening.
    • look at the time on your computer clock.
    • enter that time into the trading hours list.

    Pending trades are deleted at the end of the session.

    Copied from ds's post at http://www.stevehopwoodforex.com/phpBB3/viewtopic.php?p=95776#p95776
    The less pairs traded, the more profitable it will be. Don't be tempted to get all the moves in all pairs. You only need to get 3 x 3% to hit daily target. 5-10% way too much for daily target. I will be even happy with 4% daily returns.

    Just trade the USD and JPY pairs according to sessions for the first 2-3hrs. These pairs trends nicely when it moves compared to other lunatic pairs which spike for no reason taking out the stops.

    Just extra careful with GBP pairs for news. I got caught with GU yesterday and lost 20pips instead of 10 for slippage.

    Run it in different settings and report back here end of the week. What matters is average weekly gain of 10-15%. You can lose 20% one day and gain rest of the week for about 5% daily. You still be up by 5%.

    For the final time, this is my setting:

    TF: 1H/H1 (don't fark around with other tf)

    TP: 10

    SL: 10

    Stoch: True

    Trailing stop: BE +1 after moving 5pips (double edge knife, sometimes better not having it)

    Daily limit: up to individual (I set at 10%, most of the time I get it during Asia and free during London)

    Trading time: first two hours only

    Tokyo (AU, AY, NU, NY, AN)

    London (EU, GU, UCHF, EY, GY, CHY)

    US (I hardly trade since the daily limit of profit or loss is hit)

    This is not set and forget type of trading. I still move the tp sometimes to 20pips or nearest S/R when trade is moving after news to catch the spikes. Instead of getting 3%, I sometimes get 6% in single trade.

    I do use additional filter MA set at 50 EMA on 1H to limit the trades (sometimes better not having it).


    BE WARNED. There were a lot of moronic questions asked for a while by people too lazy and stupid even to read post 1 properly. I delete idiotic questions the moment I read them.

    Extra filters added by dsugums
    • Stochastic. Signal > Main - only trade long. Signal < Main - only trade short.

    Maximum market movement to allow a trade
    It is a bad idea to trade when the market has already moved a long way away from its D1 open price - the market is due a retrace by then. There are two filters that tell the EA not to trade when this happens:
    • MaxAllowedPipsFromOpen: a zero value (the default) turns this filter off. Enter a positive value and the ea will not trade if the market has moved this many pips away from the D1 open price.
    • Average Daily Range using the Average True Range indicator to do the calculation:
      • AtrPeriod: set this to zero to turn off the filter. The default is the indi default value of 14.
      • AtrTimeFrame: the chart time frame to use to calculate the ATR. Defaults to the D1. A zero value means 'use the current chart time frame'.
      • MinimumAcceptableRemainingPips: the bot calculates a dynamic average daily range:
        • the range high is the low of the D1 chart plus the average daily range.
        • the range low is the high of the D1 chart minus the average daily range.
        • a long trade is only allowed if there are at least MinimumAcceptableRemainingPips (default 15) between the range high and the price ceiling.
        • a short trade is only allowed if there are at least MinimumAcceptableRemainingPips (default 15) between the the price floor and the range low.

    Don't push your luck
    This EA can make magnificent profits within a short period of time. Do not push your luck by over-trading. The input DailyPercentOfBalanceTarget tells the bot to stop trading for the day when your account profit reaches this percentage of your start balance - defaults to 12%.

    Eye candy
    There is an inputs section called "Eye Candy". Set ShowEyeCandy to true and the bot will draw lines on your chart that show the next floor/ceiling lines (defaulting to Magenta), 'Big numbers' (defaulting to Blue) and range high/lo (defaulting to Turquoise). High lines are dashed. Low lines are dotted. One line will disappear when two values coincide - nothing I can do about that.

    Your D1 candle time start
    Different brokers have different D1 candle start times, so a system based on the D1 candle open time will start by using different open prices depending on your broker.

    A number of guys here are unlucky enough to be unable to open accounts with Global Prime. My heart bleeds for them, or I would not have bothered adding this complication to my life. Fact is, these poor people exist and so there is an input that allows you to specify what time to pick as your D1 open time - D1OpenHour at the end of the 'General inputs' section. The default of -1 tells the bot to use the broker's D1 candle open time and value. That is the easy bit for me, and I am not going to get involved in your hard bit.

    D1OpenHour works with your broker's time - see this at the top of your chart. It is a 24 hour time thingy. You want the ea to calculate all its values from a broker's hour of 2.00 AM, you enter 2 into D1OpenHour. You want it to calculate from a broker's hour of 3.00 PM, you enter 15 into D1OpenHour.

    You may decide your D1 open hour coincides with the close of the NY session, or the open of the Tokyo markets. I do not care. It is your problem to work this out. Take this next bit very seriously.

    Big thingy to note re D1 candle time start
    ds takes this as the close of the NY session. Given that this is his system and he trades is successfully, I suggest you do the same.

    Serious warning
    Early on in my career as a train-wreck-Forex-coder I started a couple of threads that required contributors to calculate the start time of something-or-other according to their broker's time. These threads were quickly dragged into a mire of morons bleating that they could not do the required calculations.

    This will not happen here. Learn to tell the time, guys. Questions about this are banned. Anybody moronic enough to ignore (or as been palpably demonstrated here already, fail to read) this has one chance. I will delete the post. A second posting will attract a ban from this forum and there will be no redress - I own it and am a PCA (work it out for yourselves).

    Do feel free to start a thread elsewhere to discuss the problems invoked by D1OpenHour. Send me a pm and I will add a link here so that new members can follow it. Just don't expect me to get involved.

    WmiVol
    This is a handy little indi uploaded by Peter at http://www.stevehopwoodforex.com/phpBB3/viewtopic.php?p=95267#p95267. It looks as though this will be a big help in working out which time of day to trade individual pairs.

    Conclusion
    We await more info from ds. In the meantime, try it out and see if it some combo of the basic strategy and other filters works for you.

    :xm:

    Matters of general interest
    Go here to download and run the script that will fill your platform's missing chart history: Script to (ATTEMPT) Force Download of historical data
    Read this post:
    The Old Beast, How MurphyMan made this a successful trading Newbie traders, read this for inspiration and warning. Those of you who have suffered losses, read it for inspiration.

    Masterly summary of hedging: http://www.forexfactory.com/showthread. ... ost4977179

    EA coding
    I receive may requests to code EA's. Traders, if I code your EA for free, then I will share it here. If you want me to code your EA without sharing, then my fee is $100 payable into my paypal account. I explain why at My shell EA code, at the bottom of the post.

    Useful utilities/EA's/scripts
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Read the effing manual, ok?

Global Prime is the official SHF broker. Click here to sign up for a live account with Global Prime and join the several thousand SHF members who wisely choose GP as their broker of choice.

I still suffer from OCCD. Good thing, really.

Anyone here feeling generous? My paypal account is always in the market for a tiny donation. [email protected] is the account.

To see The Weekly Roundup of stuff you guys might have missed Click here

My special thanks to Tommaso (milanese) for all the incredible work he does here.
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Scalp the Little Gits, dsu

Postby dsugums » Thu Jun 19, 2014 11:48 pm

Thanks Steve for the EA. Tested it during US session and managed to get about 5% increase in the account on demo. So far no bugs detected.

This method is similar to the one being discussed in FF but with additional variations. I will post the version 2 with some filters later.

Trade only during the active period (first 2-3hrs of the session) and only for low spread pairs. SL is fixed at 5pips, but the tp can let it run if you wish but make sure the sl move to BE once 5pips is reached.

Cheers and happy playing.

ds
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Scalp the Little Gits, dsu

Postby Elixe » Fri Jun 20, 2014 8:27 am

I have put this one on majors with the following :

Bob's H4 MA240 filter activated

SL 5 pips
TP 50 pips

BE at 5 pips, 1 pip BE profit.
JumpingStop at 10 pips, adding BE profit.

TradeHours 08-12 CET 13-17 CET

I'll report when I have some results :)
:D
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Scalp the Little Gits, dsu

Postby Wavegarrick » Fri Jun 20, 2014 8:28 am

Hi guys

My 1st scalp opened on Gbpaud a quick and easy 5 pips. This one looks promising

Thanks Steve and Dsu :good:
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Scalp the Little Gits, dsu

Postby dsugums » Fri Jun 20, 2014 10:15 am

This is the filtered version (version 3).

It will take trades based on stochastic condition to get the 5 pip target.

I also added spread filter that only takes trades if spread is less than 2pips.

Only trade first 3hrs of each session. Obviously, Fridays are not a good day to test, but since it is a scalper, hope it works.

Target is only 3% x 3 wins net.

Cheers
ds
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Scalp the Little Gits, dsu

Postby ramliam » Fri Jun 20, 2014 10:58 am

ds,
i like the concept of this EA ,can you please add recovery trades option to you next version.
regards
ramliam
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Scalp the Little Gits, dsu

Postby SteveHopwood » Fri Jun 20, 2014 8:10 pm

dsugums » Fri Jun 20, 2014 10:15 am wrote:This is the filtered version (version 3).

It will take trades based on stochastic condition to get the 5 pip target.

I also added spread filter that only takes trades if spread is less than 2pips.

You don't need this - the average spread filter takes care of a widening spread - just set MultiplierToDetectStopHunt to something like 4. Besides, it is no help if the spread suddenly spikes when the pending has been sent. Having written that, one of these filters needs removing, but I do not mind which one, so you say before I replace the version in post 1.

Also, mine did not sell this afternoon whilst I was out (EU) because the trades were refused for 'invalid stops'. Did you spot and correct this, or shall I do it?

:xm:
Read the effing manual, ok?

Global Prime is the official SHF broker. Click here to sign up for a live account with Global Prime and join the several thousand SHF members who wisely choose GP as their broker of choice.

I still suffer from OCCD. Good thing, really.

Anyone here feeling generous? My paypal account is always in the market for a tiny donation. [email protected] is the account.

To see The Weekly Roundup of stuff you guys might have missed Click here

My special thanks to Tommaso (milanese) for all the incredible work he does here.
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Scalp the Little Gits, dsu

Postby peterke » Sat Jun 21, 2014 5:19 am

hi, playing around with this EA today on the Empty4 tester I can't get it to take a short entry. I've tried different settings and pairs but long entries only.


On the tester ( with the usual large grain of salt) it looks promising enough to put some effort into

rgds
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Scalp the Little Gits, dsu

Postby Elixe » Sat Jun 21, 2014 7:47 am

I think there's something wrong in the sendshort filter :

Line 1245 should probably be

Code: [Select all]
 Please Login or Register to see this content
<


instead of :
Code: [Select all]
 Please Login or Register to see this content
<


As usual, wait for Steve opinion on this :)
:D
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Scalp the Little Gits, dsu

Postby SteveHopwood » Sat Jun 21, 2014 8:47 am

Thanks Elixe. I would have spotted the bloop straight away because I knew it would be one of my famous copy/past/faile-to-edit bloops, but you saved me the bother, so tvm.

Version 1a is in post 1. I have copied ds's code over the top of mine, so Stochastic is included as well as the bloop fix.

I have moved the trading hours inputs to second in the list as they are so crucial. Please check the defaults as they will only suit those of us in the UK - I have added a section about this in post 1.

Coders, I have added some checks to stop the compiler whinging about the need to check that OrderSelect() etc has succeeded. These blasted things make no difference to anything, but they become irritating after a while.

:xm:
Read the effing manual, ok?

Global Prime is the official SHF broker. Click here to sign up for a live account with Global Prime and join the several thousand SHF members who wisely choose GP as their broker of choice.

I still suffer from OCCD. Good thing, really.

Anyone here feeling generous? My paypal account is always in the market for a tiny donation. [email protected] is the account.

To see The Weekly Roundup of stuff you guys might have missed Click here

My special thanks to Tommaso (milanese) for all the incredible work he does here.
User avatar
SteveHopwood
 
Posts: 9316
Joined: Tue Nov 15, 2011 8:43 am
Location: Misterton - an insignificant village in England. Very pleasant to live in.

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