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  • Hi

    Another point about GBPAUD big loss last month. I placed the same trade as well but at much larger intervals and I profited from the trade while Smart2 lost.
    I think your EA should not place so many similar trades for volatile pairs such as GBPAUD and GBPNZD (or any GBP minors) at such close intervals. These pairs are so volatile that a day move could be 200-400 pips. Placing trades at less than 150 pips interval seems recipe for disaster and leaves you no room to get out of trouble.
    Furthermore, trade sizes (0.19 to 0.2 compared to about 0.1 a few months back) are much larger than you first started. I noticed you have adjusted it back to normal recently. Please don't change a winning strategy to chase % returns as you can see it will blow up in your face one day. You might want to consider adjusting trade size in accordance to volatility of the pair and your confidence it will work out.

    For example GBPUSD's volatiity is probably 1/3 or 1/4 of GBPNZD. If you open 0.1 lot for GBPUSD, would it be better to open 0.04 or 0.05 lot for GBPNZD (after adjusting for rate differences of the base currency)? Actually Smart2 is very good at getting out of trouble when a trade goes wrong, but one wrong trade could be very damaging and perhaps the damage could be reduced if the lot size is adjusted accordingly.

    Thanks!
    Last edited by hking; 12-02-2015, 04:26 AM.

    Comment


    • Originally posted by hking View Post
      Hi Vijay,

      Is it possible to amend your EA so that it does not change Take Profit for about 2 pips (between 2 levels) every time there is a small price move? I don't think it makes any sense and it is quite disruptive because if we set trading notifications, we will receive many trade modification messages.
      More importantly, there is no meaning in changing Take Profit target for 2 pips every time there is some small price movement.
      Or perhaps you can enlighten us as to why there is a need to change TP so often?
      Adjusting the TP is part of the strategy hking. When the system thinks we may not get our usual 20 pip target, it tries to exit at BE (taking the commission in to consideration). Sometimes the TP is fluctuated many times if the trend is at the border. This is unavoidable for now. However i see your point and i will take a note of it and see if i can provide you a solution without having any impact on the strategy.
      Trade the market, not the trader

      Comment


      • Hey Guys,
        Took two manual trades today and booked 26 pips.

        Cheers
        Trade the market, not the trader

        Comment


        • Originally posted by SmartTrader View Post
          Adjusting the TP is part of the strategy hking. When the system thinks we may not get our usual 20 pip target, it tries to exit at BE (taking the commission in to consideration). Sometimes the TP is fluctuated many times if the trend is at the border. This is unavoidable for now. However i see your point and i will take a note of it and see if i can provide you a solution without having any impact on the strategy.
          Hi

          Thanks for your reply.
          I don't think the EA should be adjusting TP as the orders have already been entered. Hence, breakeven price is known. I don't see the need to adjust TP over 2 pips will help matters much. Maybe there is a possibility to change TP only when there is a significant price move.
          Another way I have done with my EAs in the past is that if price almost touches my TP but move away, the EA will close the trade at say small profit or breakeven. It may be better than suffering another big move against you and having to add on positions.
          Hope you can look into it.
          Thank you.

          Comment


          • Hking the small adjustments have been working fine since day one and have not caused any issues

            Am I the only one thinking why change it?

            It's not broken so don't fix

            And why you get notifications on a to level adjustment is beyond me I use sms alerts for every trade open and I DO NOT get any more notifications when the tp level is adjusted only when new trades are open

            Seems like you want change over something that is irrelevant and is not detrimental to the system. Yet the change itself would be an unknown going forward

            I'd personally much rather keep it as it is it was working fine

            And only occasionally do you even see the tp change a lot most the time it's not even doing it

            //Ben

            Sent from my SM-N910F using Tapatalk

            Comment


            • How do you get open trade alerts, I'm with IC markets, are the alerts via ST?


              Sent from my iPhone using Tapatalk

              Comment


              • If you go into your control panel edit your signal I think on the first page you can set to receive sms alerts on open or close or both

                The final piece is to purchase an sms package also avaliable via the control panel

                There are other methods I use St's as it just so darn easy

                //Ben
                Edit: just got home looking in the control panel it is indeed on the first page, click the "SMS alerts" tick box, then click the red writing "click here to set them up, inside there is the option to alert on open, and close, and if the signal disconnects,

                or like BillHuppert pointed out you can use twitter (that one i did not know, thanks Bill, i used to get mt4 to email me, then get my phone to push notifications to alert me)

                as to why Hking you get an SMS when the TP is adjusted im still at a loss there,


                also where you mention the movement difference in GBP is greater, i belive with the dynamic spacing this is already taken care of and has been hard coded for some time, where and how it decides this magic spacing amount is a secret to Vijay priority system but it is meant to already take what you mention into account,

                sorry if my first post comes across a bit defensive but from anothers followers perspective, its all very good/well/easy to come and say well it needs to take at least 150 pips gap or you need to change this or that, anyone of us could suggest the same or a million other changes we each think ourselves to be good for the system,

                but ask yourself what in live forward testing would changing the strategy by a considerable amounts do to the bottom line of the profitability of the system as a whole?? we dont know, and in reality what killed that basket was not spacing, (it would of helped, or TP changes etc, really it was we traded a news event, a massive news event that clearly affected all pairs not just the ones the news covered, if anything the lesson to learn from that was disable all pairs in that scenario, our first entry was just too darn close to the news, and we got ripped. but even then, Vijay makes profitable systems, if it was all that easy we would all have our own system and not need Vijay.

                I hope Vijay you make changes on things that have only shown to be detrimental, and not just because, anyway lets wait for the master to decide

                cheers mate

                //Ben
                Last edited by dupapa; 12-02-2015, 08:15 PM.

                Comment


                • One of the "other methods" Ben has indicated is to use the Twitter notification function of myfxbook.
                  It works quite well and is free of charge.

                  Comment


                  • Cheers chaps, I'll be spending quality time with ST and Myfxbook.

                    Nice to have such a knowledgable and helpful bunch on the feed.[emoji106]


                    Sent from my iPhone using Tapatalk

                    Comment


                    • Originally posted by dupapa View Post
                      Hking the small adjustments have been working fine since day one and have not caused any issues

                      Am I the only one thinking why change it?

                      It's not broken so don't fix

                      And why you get notifications on a to level adjustment is beyond me I use sms alerts for every trade open and I DO NOT get any more notifications when the tp level is adjusted only when new trades are open

                      Seems like you want change over something that is irrelevant and is not detrimental to the system. Yet the change itself would be an unknown going forward

                      I'd personally much rather keep it as it is it was working fine

                      And only occasionally do you even see the tp change a lot most the time it's not even doing it

                      //Ben

                      Sent from my SM-N910F using Tapatalk
                      Totally agree. People that come along and think they know better will come and go. All that matters is Vijay and his robot friend. Profits have been steady why change?!?!

                      Comment


                      • I am turning off the scalper part for 3 events in next 2 weeks.. Draghi NFP and FOMC. I wish you all good profits for these events

                        Comment


                        • Did you run 2 signals separate?

                          Comment


                          • Originally posted by marcus2207 View Post
                            Did you run 2 signals separate?
                            Yes that is correct

                            Comment


                            • I will not be trading on scalper for this week. it will be too volatile and there is no direction yet unless the news is out. Better to stay out.
                              Trade the market, not the trader

                              Comment


                              • Bit lost in this... if i got smart2 subscribed do I have to be aware of any changes to t/p lvls etc...? thought all was copied ... ... ? Thanks for claryfing ...

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