Auto pilot settings question - Page 3

alan · #21 10-06-2008, 02:39 AM

Quote:

Originally Posted by mszmoney

And Alan great website, no kidding. But i have one question...how many spaces are after the decimal with your broker? i'm asking this because the settings you use on your website differ from broker to broker-no?

Have a great day.

Thanks

I use IBFX for both live and demo and IBFX is a 4 digit broker. The settings will differ only if you're gonna use a 5 digit broker. If so you have ad an extra 0 to all your settings. I believe this is explained in the FAPS manual too.

To quote it:

Quote:

If your broker uses 5-digit price quotes (like Forexte broker) then use takeprofit=200, Trailing stop = 500
and Slipage = 30. If your broker uses 4-digit price quotes (like Alpari and InterbankFx) then use
default settings

^eagle^ · #22 10-06-2008, 04:39 AM

Quote:

Originally Posted by mszmoney

Ok well then i will ask...What are your settings Eagle? I Dont know what you are referring to when u asked "Fastlane Ms money" but I don't think i'm that person. MSZ are my initials. Is this a person from CNBC or something?
Thanks for your reply.

And Alan great website, no kidding. But i have one question...how many spaces are after the decimal with your broker? i'm asking this because the settings you use on your website differ from broker to broker-no?

Have a great day.

No ms money is just somebody I know on a different forum.

My settings are very agressive and I change them every so often because I forward test.

I allow ten maximum trades open but only .01 lots (a dime a pip on my puny 500usd account.) I have set my stop loss to 350 but am considering tightening it to 300 for this market. everything else is default. I have been running it on eur/usd and usd /chf but have just pulled usd/chf. not happy with the results. switching to gbp/usd.

alan · #23 10-06-2008, 11:36 PM

Quote:

Originally Posted by ^eagle^

No ms money is just somebody I know on a different forum.

My settings are very agressive and I change them every so often because I forward test.

I allow ten maximum trades open but only .01 lots (a dime a pip on my puny 500usd account.) I have set my stop loss to 350 but am considering tightening it to 300 for this market. everything else is default. I have been running it on eur/usd and usd /chf but have just pulled usd/chf. not happy with the results. switching to gbp/usd.

I think GBP/USD may be a better alternative currency pair, but don't forget to adjust your SL and TP to match the "characteristics" of this particular pair. In other words you're going to have to widen all variables as this pair is more volatile, makes bigger moves, and has a much wider daily trading range.

Earl · #24 10-09-2008, 11:55 PM

what I like about GBPUSD is that you can use EURUSD as an indicator..

I was doing that all last night drawing in some big pips at a buck...

draw back is they are not always the same...

I also learned that you have a 3 second delay from my desk top to my wireless...

so if I watch the desktop monitor sometimes I can catch the trade profits on my laptop...

^eagle^ · #25 10-10-2008, 12:27 AM

Quote:

Originally Posted by Earl

what I like about GBPUSD is that you can use EURUSD as an indicator..

I was doing that all last night drawing in some big pips at a buck...

draw back is they are not always the same...

I also learned that you have a 3 second delay from my desk top to my wireless...

so if I watch the desktop monitor sometimes I can catch the trade profits on my laptop...

cool! Thats just wicked sneaky.

greentrader99 · #26 10-22-2008, 07:28 PM

Allan,

I was just wondering if you would share your setting? Are you still running on EUR/USD, one trade? If you would share knowledge that would be great.

Thanks!!

alan · #27 10-23-2008, 03:21 AM

Quote:

Originally Posted by greentrader99

Allan,

I was just wondering if you would share your setting? Are you still running on EUR/USD, one trade? If you would share knowledge that would be great.

Thanks!!

My settings are default except for having switched the MA type from SMA to EMA. So 100 EMA. To do so you have to change the TypeMA_0_3 variable to "1"

TP=35 (take profit)
SL=300 (stop loss)
TS=15 (trailing stop)

1 trade max, no manual lot size, ie I set lot size to 0 to let FAP due the money management.

Heck even the default settings are performing well now. See my blog as I just posted a performance update. I think you'll be pleasantly surprised.

DayTrader · #28 10-24-2008, 05:58 PM

Hi,
I just ditched the FTD account and got a IBFX demo account to fine tune the settingsbofore going live there. But there was no mention of the lot size on the demo account...
On the 5K FTD FAP demo I ran with auto lotsize and it typically operated at 0.1, and with 20TP the profit was $20.

Would these FTD settings work well on the IBFX also ?

One other issue I've never seen discussed; brokerage fee / commission...
There is none in the demo mode but what about a real account?
Is commission pr trade, pr withdrawl or what... and what size would it typically be?

E.K

alan · #29 10-24-2008, 09:52 PM

Quote:

Originally Posted by greentrader99

Allan,

I was just wondering if you would share your setting? Are you still running on EUR/USD, one trade? If you would share knowledge that would be great.

Thanks!!

Opps I realised that I did not answer your question about running on EUR/USD...yes I'm still running on JUST EUR/USD and will continue to do so on my live accounts until I get some spare time to play with FAP on other pairs.

I intend to initiate a long term multi pair test..ie I'll run FAP with default settings on a pair..test if for a month or two, report my results..move on..and so on and on

alan · #30 10-24-2008, 09:55 PM

Quote:

Originally Posted by DayTrader

Hi,
I just ditched the FTD account and got a IBFX demo account to fine tune the settingsbofore going live there. But there was no mention of the lot size on the demo account...
On the 5K FTD FAP demo I ran with auto lotsize and it typically operated at 0.1, and with 20TP the profit was $20.

Would these FTD settings work well on the IBFX also ?

One other issue I've never seen discussed; brokerage fee / commission...
There is none in the demo mode but what about a real account?
Is commission pr trade, pr withdrawl or what... and what size would it typically be?

E.K

No the lot sizes would be different on your IBFX account if you opened a mini account with them. Let FAPS do the lot management - ie autosize.

The only "commission' you pay is the spread. That is something you pay even on the demo account - it simulates real trading.

with IBFX the spread is typically 2-3 pips but can vary depending on market volatility or if there is a major news event moving the markets. Under normal conditions however it is 2 pips usually.