Newb question :)

DontStopShortWithMe · #1 09-18-2008, 06:43 PM

So i woke up this morning to see FAPS trading eurusd, with a profit of 835! i am confused though, because i am pretty sure i had a takeprofit of 200. would there be a reason why it didn't end?

alan · #2 09-18-2008, 08:02 PM

Quote:

Originally Posted by DontStopShortWithMe

So i woke up this morning to see FAPS trading eurusd, with a profit of 835! i am confused though, because i am pretty sure i had a takeprofit of 200. would there be a reason why it didn't end?

Are you using a 5 digit broker cause 200 take profit doesn't sound right unless you are indeed using a 5 digit broker. With a "standard" broker (ie 4 digit) the take profit would by default be set at 20 pips

Keep in mind that FAP trades quite often. Just in the last 30 min mine closed 5 trades - all 20 pip wins.

DontStopShortWithMe · #3 09-19-2008, 02:31 AM

In the forex autopilot pdf guide it talks about how the recommended broker was forexte, and that it was a 5 digit broker. So that is why i had my tp and 200 and slipage at 30... right now FAPS is riding the eurusd down, and i have a profit of well over 200. Any other reasons as to why it isn't ending the trade? and your comment on how your fap closed 5 trades in 30 minutes got me thinking, because my fap has not closed a trade yet. I have let one run for 8 hours, and another for 7... something is messed probably.... here is what i am running right now...

Lots= 0.5
lotsriskr=1
maxorders=1
maxlots=100
stoptime=5
aaa=13
bbb=14
takeprofit=200
stoploss=0
trailstop=0
usemacontrol=1
periodma=100
pricema 0 6=0
typema 0 3=0
spangator=0/5
slippage=30

it shows my initial sell price at 1.4244 and my tp of 1.4044 ... i can't wait to know what all of these mean. hahaha. any help will be great. cheers

Andrew

^eagle^ · #4 09-19-2008, 04:20 AM

Quote:

Originally Posted by DontStopShortWithMe

In the forex autopilot pdf guide it talks about how the recommended broker was forexte, and that it was a 5 digit broker. So that is why i had my tp and 200 and slipage at 30... right now FAPS is riding the eurusd down, and i have a profit of well over 200. Any other reasons as to why it isn't ending the trade? and your comment on how your fap closed 5 trades in 30 minutes got me thinking, because my fap has not closed a trade yet. I have let one run for 8 hours, and another for 7... something is messed probably.... here is what i am running right now...

Lots= 0.5
lotsriskr=1
maxorders=1
maxlots=100
stoptime=5
aaa=13
bbb=14
takeprofit=200
stoploss=0
trailstop=0
usemacontrol=1
periodma=100
pricema 0 6=0
typema 0 3=0
spangator=0/5
slippage=30

it shows my initial sell price at 1.4244 and my tp of 1.4044 ... i can't wait to know what all of these mean. hahaha. any help will be great. cheers

Andrew

If a broker is a five digit broker that means it uses five digits AFTER the decimal point. For example your above sell price and TP are FOUR digits because there are only 4 digits after the decimal.

Some brokers have five.....

Your sell price would be 1.42240 and your TP would be 1.40440.

Change your TP to 20 and your slippage to 3 and you'll be fine.

alan · #5 09-19-2008, 08:25 AM

Quote:

Originally Posted by DontStopShortWithMe

In the forex autopilot pdf guide it talks about how the recommended broker was forexte, and that it was a 5 digit broker. So that is why i had my tp and 200 and slipage at 30... right now FAPS is riding the eurusd down, and i have a profit of well over 200. Any other reasons as to why it isn't ending the trade? and your comment on how your fap closed 5 trades in 30 minutes got me thinking, because my fap has not closed a trade yet. I have let one run for 8 hours, and another for 7... something is messed probably.... here is what i am running right now...

Lots= 0.5
lotsriskr=1
maxorders=1
maxlots=100
stoptime=5
aaa=13
bbb=14
takeprofit=200
stoploss=0
trailstop=0
usemacontrol=1
periodma=100
pricema 0 6=0
typema 0 3=0
spangator=0/5
slippage=30

it shows my initial sell price at 1.4244 and my tp of 1.4044 ... i can't wait to know what all of these mean. hahaha. any help will be great. cheers

Andrew

Ok, your problem is that you've set your TP incorrectly. Judging by the position you've got open there your TP is set to 200 pips. Thus I can infer that you're running on a 4 digit broker - NOT a 5 digit one like ForexTE. Set your take profit to 20 pips and you should be fine. As a future tip if you want to make sure that you've got your TP set right just subtract the take profit from the open price (ie the price at which your position was opened at).

Keep in mind that even if you were running on a 5 digit broker your real take profit would still be 20 pips, it's just that 5 digit broker convention requires the addition of an extra 0 - hence that '5'th' digit.

DontStopShortWithMe · #6 09-19-2008, 10:22 AM

ok thanks, i made the adjustments, and now lets see how FAPS reacts. also, if i downloaded FAPS on monday from forexautopilot.com , was it the new updated version i got?

alan · #7 09-19-2008, 07:02 PM

Quote:

Originally Posted by DontStopShortWithMe

ok thanks, i made the adjustments, and now lets see how FAPS reacts. also, if i downloaded FAPS on monday from forexautopilot.com , was it the new updated version i got?

Easiest way to tell is if you just hover your cursor on top of "ForexAutopilot" in the Expert Advisors section of your Navigator (right below Market Watch) and it says "sep08" at the end of the copyright statement, then you have the latest.