Just a friendly reminder

[mystikdragon7]

If you've got open negative trades and want to wait them out turn off FAPS since FAPS will close out the trades at the end of the month for a loss.

[dynamo]

If you've got open negative trades and want to wait them out turn off FAPS since FAPS will close out the trades at the end of the month for a loss.

Hi Mystic,

I have been wondering about this as I normally close out my open trades at the end of the month/week depending on the trade anyway. I have a couple of questions though that I hope you know the answer to: -

1. What time does FAPS close out the trades?
2. Do you need to remove FAPS from the chart? or is it enough to just turn off live trading?

Thanks in advance

Ian

[Earl]

Hi Mystic,

I have been wondering about this as I normally close out my open trades at the end of the month/week depending on the trade anyway. I have a couple of questions though that I hope you know the answer to: -

1. What time does FAPS close out the trades?
2. Do you need to remove FAPS from the chart? or is it enough to just turn off live trading?

Thanks in advance

Ianyou can just change your magic number inside the fap input..

then the trades wont close....each fap trade is id with your magic number... that how it know what trades to monitor. so if you change that number your cool:D

[mystikdragon7]

Hi Mystic,

I have been wondering about this as I normally close out my open trades at the end of the month/week depending on the trade anyway. I have a couple of questions though that I hope you know the answer to: -

1. What time does FAPS close out the trades?
2. Do you need to remove FAPS from the chart? or is it enough to just turn off live trading?

Thanks in advance

Ian

1. I believe FAPS will close out trades at 0000 GMT but I'm not 100% positive.
2. You can just close out the program and that will be fine.
3. Or you can do what Earl suggested

you can just change your magic number inside the fap input..

then the trades wont close....each fap trade is id with your magic number... that how it know what trades to monitor. so if you change that number your cool:D

Damn Earl what would I do without you:D You always remember the stuff I don't lol!!!

[dynamo]

That's great, thanks Earl. I don't normally leave open positions over the weekend unless there is a strong trend to follow, but it's good to know about the magic number. I have changed it before to solve other issues, but hadn't considered it for this one.

[jefe]

If your leaving trades open during the weekend and feeling lucky....

Remove the TP from the winner...:) Before your broker closes this PM.

[Earl]

you could tie it up....

just take an opposite trade and leave it...no tp of course

at least this way you lock in the loss ...and it will protect you the market jumps out of your favor

[dynamo]

Hi

Just another point to make about the magic number change. My own mistake I know, but after the levels had started to rebalance tonight, I reloaded my settings back into the EA from a .set file. This stupidly contained the old magic number, and FAPS immediately closed out a trade that I had kept open by changing it in the first place!

As a warning for others, if you do this, the EA keeps the end of month in it's system, it is not a "tick over" function. If you have kept trades open by changing your magic number, make sure you don't change it back again while the previous month still has trades you want open.

[jolinsz]

Hi

Just another point to make about the magic number change. My own mistake I know, but after the levels had started to rebalance tonight, I reloaded my settings back into the EA from a .set file. This stupidly contained the old magic number, and FAPS immediately closed out a trade that I had kept open by changing it in the first place!

As a warning for others, if you do this, the EA keeps the end of month in it's system, it is not a "tick over" function. If you have kept trades open by changing your magic number, make sure you don't change it back again while the previous month still has trades you want open.

I also did the same thing, I changed it back because FAPs started opening trades with the new number magic number which was resulting in too many open trades. So is closing the expert advisor at the end of the month better than changing the magic number? Good thing this was my demo account.

[dynamo]

I also did the same thing, I changed it back because FAPs started opening trades with the new number magic number which was resulting in too many open trades. So is closing the expert advisor at the end of the month better than changing the magic number? Good thing this was my demo account.

Changing the magic number is fine, as long as you remember to change it on your settings too when you upload them. It was the reverting to the old number that closed the deal, not the EA. I only had one trade open so it was not too bad, and as it happens, the close was the right thing short term.

If you want to change the magic number to lock in trades, leave it changed for the whole month. If you just turn off the EA to protect the trades, you will not be able to reopen it until those trades are closed, or it will close them.

[Earl]

Yeah it opens trades with the new magic number because it doesn't see the old trade with the old magic number...

if you wanted to just hold it's best just to turn the EA off

I didn't make that clear sorry:(

but maybe those extra trades will be winners...lol:D

[edwardBe]

Why close trades at the end of the month? Especially if it ends on a weekday. I can see not leaving open trades over the week end when some of the banks trade, but not us, as the currency could move dramatically, but I don't see the end of the month having any effect.

[jolinsz]

Why close trades at the end of the month? Especially if it ends on a weekday. I can see not leaving open trades over the week end when some of the banks trade, but not us, as the currency could move dramatically, but I don't see the end of the month having any effect.

I have been using the safeguard with FAPS with good results so far. I think what I will do is close out any hedged trades at the end of the month and changed the magic number on other open trades to carry over to the next month.

[BryanA]

Why close trades at the end of the month? Especially if it ends on a weekday. I can see not leaving open trades over the week end when some of the banks trade, but not us, as the currency could move dramatically, but I don't see the end of the month having any effect.


I would say if you are babysitting your trades, you don't need the Close at end of month setting. That is mainly for people that have no stop loss and do not check their trades. (Which I think is a no-no) If you are choosing to close trades at the end of the week then you are obviously monitoring enough to set the monthly closings to false.

[torreseemee]

OMG....that must me the reason all my opened trades closed yesterday at 00.00 time???

FAPS will close any opened trades at the end of every months?

I got -USD149.00 closed dramatically when the terminal startt yesterday

Do I need to close any opened trades (positions) at the end of the month?

[mystikdragon7]

OMG....that must me the reason all my opened trades closed yesterday at 00.00 time???

FAPS will close any opened trades at the end of every months?

I got -USD149.00 closed dramatically when the terminal startt yesterday

Do I need to close any opened trades (positions) at the end of the month?

FAPS will close negative trades so those are the ones to watch out for at the end of the month.

[moneydream]

If you've got open negative trades and want to wait them out turn off FAPS since FAPS will close out the trades at the end of the month for a loss.

I used Fapturbo long term strategy now instead of FAPS. No other reason, Fapturbo long term strategy have more control over some setting like close after x month etc.