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Forex Software → Forex Strategies → Profit within seconds and pips?
The pictures are trading history from a contestant of a forex contest. The trade always closes when there is profit for 1-3 pips and the "time in position" is counted in seconds.
1) In real account / trading, is it allowed to have such small difference between open price & close price? i.e. profit of 1-3 pips or 10-30pips for 5 digit broker.
2) Can FSB generate similar strategy or strategy with similar behaviour? Hit-and-run?
Thank you all ;-)
1) In real account / trading, is it allowed to have such small difference between open price & close price? i.e. profit of 1-3 pips or 10-30pips for 5 digit broker.
Depends on your broker and most importantly the account type you use.
BTW, where's the spread? Was it a contest without spread?
Brokers have two parameters that limits scalping:
Stop Level - shows minimum distance from market price to SL or TP levels.
Freeze Level - shows minimum distance from market price to position price where you can close manually.
FXCM has Stop Level = 0 points
Accent Forex has Stop Level = 60 points
FST allays check what is Stop Level and corrects SL and TP orders accordingly.
You can test it in Operation tab. If SL or TP are in StopLevel limits, the number box font is red.
The contest has spread of about 10pips for EURUSD. That's the price difference between buy and sell.
I tried to place a buy limit but the TP needs to be 30 pips away from the entry price. So I'm not sure how can this contestant use scalping method to make profit.
I've also tried to place order via FST operation tab. The font in SL and TP will change from red to black after 40 pips for EURUSD. I'm using DF Markets Meta Trader.
Just wondering how this contestant can be so successful. 3000% of profit within a month. Trying to study successful patterns.
The font in SL and TP will change from red to black after 40 pips for EURUSD.
This is because:
The contest has spread of about 10pips for EURUSD
TP needs to be 30 pips away from the entry price.
Try to manually open a position and close it in 10 seconds or less.
Probably the screenshots do not shows spread. 1.1 pips result may be 1.0 spread + 0.1 pip profit.
Even in this case, the deals are profitable.
Thank you Popov. So is FSB able to generate strategy with similar profit? Is it difficult to find such strategy?
I assume such strategy is considered scalping. Is the majority broker currently available in the market accept such trading behavior?
Sorry for the difficult questions. ;-)
This is quite interesting.
One question that I have is..... do we know what time frame is being used for the data...... we may be out of luck if it is tick data...
I think FSB can account for spreads.
There would have to be an indicator created for the time period, I am sure that is not a difficult task for those with know how.
I am really glad you posted this idea........ makin me think.! LOL
There would have to be an indicator created for the time period, I am sure that is not a difficult task for those with know how.
What would it do?
Wilson said that the trades are 3 - 5 seconds in length..... I don't think we have the ability to limit the trade time so far, at least to seconds.
The generator likes to look for maximum profits so it will not cut off a trade that fast (I think).
FSB was not designed to generate intrabar strategies. But with proper custom indicator FST can make such trades.
Wilson said that the trades are 3 - 5 seconds in length..... I don't think we have the ability to limit the trade time so far, at least to seconds.
The generator likes to look for maximum profits so it will not cut off a trade that fast (I think).
Few trades go over 30s too... It's not much about the trade time but the market condition or a pattern, like Wilson said. If you watch a live chart - look how sometimes price takes off, it's not much - couple of pips maybe, 5 at most - but if you can catch that train it should produce a profit. Good trading platform is an absolute must though. I can imagine doing it on MT - when the trade gets finally processed, it will take even your last pair of worned out pants from you to cover the losses...
I can see it happening on tick data, Wilson you said you are studying the trades, have you looked at respective tick charts? That might provide a few clues hopefully.
To be honest, I am intrigued as well. Technically we can modify Take Profit indi to accept like 1 pip of profit, and it's an all-go-go-go in the generator, but my instinct tells me to develop an intrabar strat one needs intrabar data, that is tick data.
Thank you all for your interest on this topic.
I'm not sure where to look for the tick charts.
The contest trading details for this contestant can be found at below link. I don't think it requires you to log it and should be available to the public.
http://www.myfxbook.com/members/airalex/contest-airalex/256661
Go to "trading activities" near the bottom and click "History" for historical transaction data. The contest will close in about 2 days so I'm not sure how long the information will still be there.
It will be good if we can find a way to code it using FSB.
Cheers.
If it is on myfxbook, we can assume is normal MT4 data..
We owe you the thanks for introducing something that has wide appeal in the forum....!
I think he has a composite of trading robots, 30 or so, it will be difficult to figure out what is happening.. many pairs and many robots.
I guess the idea is to have many robots and many pairs and load them into the contest.
On the statistics page I think we are seeing average times of the trades.
Well spotted Blaiserboy.
I've downloaded the contestant statement to CSV and try to analyse it. Attached is the statement. Usually when the trade is being executed via FST, the connection ID will appear on the comment section, which will tell us how many robots are there. Unfortunately, there's not much info on his comment section, mostly blanks.
However, I noticed that he has 44 sets of Magic number. Does it mean that 1 Magic Number = 1 Robot?
I am pretty sure that he generates a robot, attaches it to the chart and then when it has poor performance he stops it.......
So he has generated many profitable robots over a period of months and added them.....
AND...... he may be using a trade manager to exit instead of a robot and that could account for the timing in seconds, the trade manager operating inter bar.
I tried to study the thing yesterday but with so many pairs and robots it is very difficult to figure out what is happening.
I think that if you wish you can generate many robots in different time frames and attach them to MT4, it looks like he has attached a significant number at one time
I have not seen what the maximum number of FST robots can be attached to MT4.
One way that may help to get fast turnaround is to use the 'Exit after N bars' indicator. I am not too sure if that would be a valid strategy or not.
Ultra-frequency traders, how is it going?
I found a tick data source, haven't used it mysef, but first impressions are good! Lets carry on,
http://www.truefx.com/
I am pretty sure that he generates a robot, attaches it to the chart and then when it has poor performance he stops it.......
So he has generated many profitable robots over a period of months and added them.....
AND...... he may be using a trade manager to exit instead of a robot and that could account for the timing in seconds, the trade manager operating inter bar.
I tried to study the thing yesterday but with so many pairs and robots it is very difficult to figure out what is happening.
I think that if you wish you can generate many robots in different time frames and attach them to MT4, it looks like he has attached a significant number at one time
I have similar idea - program many EAs without real exit logic or use only take profit
Run this 'chaos' over multiple mairs and directions.
Add equity manager to as EA to the MT4 and close all positions when specified small equity increase is achieved.
I am going to run this as soon as i have free RAM and CPU on my VPS as i have many strategies developed. I am often running 5-10 strategies on 1 MT4 account and often the equity grows even though at the end strategies end up in loss.
We do not need HFT, super duper robots, zero spread, etc to make money. We need to trade effectively and then automate the trading plan.
Forex Software → Forex Strategies → Profit within seconds and pips?
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