FX Rogue Wave 2.5 Automated Breakout - Time Based diskuse

askew8 posted:
Hey Scott,

I notice that your trades close no greater that like 50 pips or so... The current trade I am in has me to TP at 250 pips. Is this normal or did I do something wrong here?

Im just guessing, but I think it has a higher TP so that it can use a trailing stop maybe?

The EA loads initial TP and SL at 250 pips in the event of a complete loss of communication. When the EA initializes, two yellow lines should form showing you where it plans to close the orders when the price meets them.




In this example, I am in a sell heading toward the lower yellow line on USDCAD. The yellow lines are 1x channel distance for profit.

Here is a little video I create showing how to load for the first time. Enjoy. I am still looking for a good video capture that does not take too much memory for uploads.

FX Rogue Wave is designed to work automatically initializing at the same time every day. But you may want it to use your own trading indicators to choose when to load the EA. This video will show you some possibilities.

Mine did not initiate any trade at all today. DOes it only do it when there is some sort of movement in the markey or is it strictly time based?

Does anything get affected if I close trades manually?

askew8 posted:
Mine did not initiate any trade at all today. DOes it only do it when there is some sort of movement in the markey or is it strictly time based?

At the prescribed time, entry points are set waiting for a market move. When the price action crosses an entry point, a trade will be initiated.

Here is the trade setup from this morning. As you can see, the price action has not crossed an entry point yet. So, no trades have been placed. I was working on the server at 8:00EST, so I set mine at 8:30EST. Time is how to automate trades at the same time every day. It can be used in other ways with your own indicators. See the videos above. Thanks!

askew8 posted:
Does anything get affected if I close trades manually?

The EA is designed that once a trade is in place it should be left alone as it will remain open until a yellow take profit line is crossed or the SL set at the opposing channel is hit by market movement. If an order is closed manually IN PROFIT, it will stop trading and wait for the next start time. If closed in a loss it will want to recoup that loss by using the next order in sequence. But, I did not design it for manual closes in loss. If you close a losing trade, I would recommend removing the EA from the chart and reloading it at a later time.

Just leaving the EA on all the time, which mode is best?

Model 1 is for long term as it will remember the last trade size and entry points in the event of a server / MT4 reboot.

But, you will need to load the EA in model 0 first to erase the previous trade memory from the system, then once loaded, go back into the settings and change model to 1.

ok, thanks!!! Any mode that it will do this each time it trades and still remember the lot up size? I running 4 or more charts, WOuld i need to do this on each trade on each chart?

Professor53 posted:
ok, thanks!!! Any mode that it will do this each time it trades and still remember the lot up size?

Once set to model 1, if it is in a trade sequence, it should remember the last condition and keep those settings intact.

I say 'should' because if the MT4 platform is off for too long, the market could move out of range of the settings. It would be like falling off your surfboard, the wave continues on. In those rare situations, just close the trade manually and wait or the next wave.

Model 0 will reset the entry points based on defined settings on the chart whenever loaded. MQL language is only so smart.

I went ahead and manually closed the trade to show that once done, the EA turns off when profit is made. As long as order#1 is in profit, why not?

hey scotty

my traded closed automatically and when i looked at your page, it was still going. Make sense? Also, can you look at my lot sizes and see if they are the right size based on the account size? Profits seem really high which means losses could be really high as well....
https://www.myfxbook.com/members/askew8/shawn-fx-wave/940314

Hi Askew!

I am glad you profited! But, assuming you are on a standard account, 2.0 lot size is too high for tis EA with that account size. Had Rogue Wave needed to use the next orders in sequence, there would not have been enough funds to cover.

On a standard account, you can calculate your initial lot size for order1 = .01 lots per $500 in account balance. On your $10,000 account, you would set order1 at 0.2 lot size. Then double the 3 order values in sequence based on that.

That being said, your order sequence would be:

OrderValue1 = 0.2
Ordervalue2 = 0.4
OrderValue3 = 0.8
Ordervalue4 = 1.6

Regarding yesterdays trade. I was playing with some settings and my trading platform did not load at 8:00EST as it normally would have, so I went in and adjusted the timestart for 9:00EST which gave me a slightly different channel than everyone else. I manually closed that trade in profit this morning.

Enjoy!

Using the above ratio of lot size to account balance should provide a return of .5% average per win with an overall risk of 4% on average. These numbers can vary with channel size.