Happy New Year to everyone!!!
This will be my first contribution for the year to this wonderful forex factory forum.
I have been trading in demo mode now for the past 2 years. I have read the many horror stories of people losing tons of money trading. I decided long ago that I was not going to be one of them.
I love forex for the money potential that is available to you, once you educate yourself and have a robust and simple trading system. My success has been very modest, but not consistent. I believe to make serious money you have to have a system that works for you 24/7 while you are sleeping or away from the computer.
I like using the MT4 trading platform and I am learning how ea's work. I can make slight modifications to some ea's. That is the extent of my coding knowledge.
I have been following the results of a Parabolic SAR ea for a while now. I will attach forward demo test results and ea on next post.
Maybe there is a thread that has already looked at this ea. If so let me know.
I believe this ea shows great promise and has a bright future with some modifications. I love ea's which are simple and this one certainly is.
If am not a coder, but I think the following modifications to ea will greatly improve results and keep the gains consistent.
1. Limit the amount of trades the ea makes on a bar opening.
2. Add option to trade by closed bars or ticks.
3. Add feature to straddle (buy/sell) on closed bar when sar dot is complete. Maybe high and low of candle with +/- 5 pips.
4. Add feature to lock in pips.
eg. Trade in profit 13 pips, lock in 5 pips.
Trade in profit 25 pips, lock in 15 pips.
After that let trade run with trailing stop to take profit or trailing stop loss.
5. Start trading time and stop trading time (MT4 GMT).
6. Time to close out trades on Friday before market close. This way you will not be surprised with huge loss with weekend gaps.
7. The website also states that only short trades seem to work with this ea. It would be interesting to find out why, maybe there is a coding error?
Comments or suggestions much appreciated.
This will be my first contribution for the year to this wonderful forex factory forum.
I have been trading in demo mode now for the past 2 years. I have read the many horror stories of people losing tons of money trading. I decided long ago that I was not going to be one of them.
I love forex for the money potential that is available to you, once you educate yourself and have a robust and simple trading system. My success has been very modest, but not consistent. I believe to make serious money you have to have a system that works for you 24/7 while you are sleeping or away from the computer.
I like using the MT4 trading platform and I am learning how ea's work. I can make slight modifications to some ea's. That is the extent of my coding knowledge.
I have been following the results of a Parabolic SAR ea for a while now. I will attach forward demo test results and ea on next post.
Maybe there is a thread that has already looked at this ea. If so let me know.
I believe this ea shows great promise and has a bright future with some modifications. I love ea's which are simple and this one certainly is.
If am not a coder, but I think the following modifications to ea will greatly improve results and keep the gains consistent.
1. Limit the amount of trades the ea makes on a bar opening.
2. Add option to trade by closed bars or ticks.
3. Add feature to straddle (buy/sell) on closed bar when sar dot is complete. Maybe high and low of candle with +/- 5 pips.
4. Add feature to lock in pips.
eg. Trade in profit 13 pips, lock in 5 pips.
Trade in profit 25 pips, lock in 15 pips.
After that let trade run with trailing stop to take profit or trailing stop loss.
5. Start trading time and stop trading time (MT4 GMT).
6. Time to close out trades on Friday before market close. This way you will not be surprised with huge loss with weekend gaps.
7. The website also states that only short trades seem to work with this ea. It would be interesting to find out why, maybe there is a coding error?
Comments or suggestions much appreciated.