Steinitz HAS MTF **Theory & EA**

[Dave2]

I know about the TF's on MT4 but what does 1-6, 3-8, 4-7 represent?

It's ok I know now.

Thanks
Dave

[Dave2]

Hi watchout4me,

I just installed the EA as per instructions and let it do its thing. Put 12 pairs on (demo) and I'm up just over $87 for 2 days trading. The EA is set at default, trading at .01 per lot, but when I've got use to how the EA is setup I will change that.

Don says that trades will probably go into negitive before resuming in the direction of the main trend.

[sehs4u]

Don ;

I noticed that you trade GBP/JPY . IBFX has a 9 pips spread for this pair so with the deafult EA set "use spread detection " to true i can not trade this pair. Do you suggest to set this option to false and trade this pair? What about decrease the percentage for each trade and cancel the spread detection and trade all the pairs? (for IBFX there is 19 pairs).

Thank you

[steinitz]

Originally Posted by ashraf_65

Don

Using manual version of this strategy, Could I make my entery TF is the 5 minutes as a rule . My aim is to catch many pips as I`ll start with very early change in colour.
I need your comment please.

Thanks alot.
Wish to see you in Egypt soon.

Dr.Ashraf
Urologic Surgeon

If I ever need a Urology Doctor I will surely come to see you.

This manual and EA method does not work that way. We don't look for confirmation signals like most of the traders around the world.

We are counter trend traders that look for precision entries and always go with the main trend.

Don

[steinitz]

Originally Posted by watchout4me

you've just got the EA,

how is your setup? my EA triggered 6 trades this morning, i'm still in negative.

maybe my setup is not right

Please realize that this is not a method that goes with confirmation signals (which are too late usually) rather a counter trend method.

Get used to seeing trades in the negative as that is when we basically entered them. It's this that separates the losing traders from the winners.

It will make send as you see your trades evolve.

[steinitz]

Originally Posted by sehs4u

Don ;

I noticed that you trade GBP/JPY . IBFX has a 9 pips spread for this pair so with the deafult EA set "use spread detection " to true i can not trade this pair. Do you suggest to set this option to false and trade this pair?

Just set the default to 9 pips. I do suggest trading this. Volatility = risk = profit

What about decrease the percentage for each trade and cancel the spread detection and trade all the pairs? (for IBFX there is 19 pairs).

Absolutely! Love the idea! Just don't trade more then 20-25% of your capital. If you want you can decrease the lot size for highly volatile pairs!

Don

Thank you

[watchout4me]

Originally Posted by steinitz

Please realize that this is not a method that goes with confirmation signals (which are too late usually) rather a counter trend method.

Get used to seeing trades in the negative as that is when we basically entered them. It's this that separates the losing traders from the winners.

It will make send as you see your trades evolve.

thanks for response.

I've not fully got this strategy right. If we enter a trade ( USING LOWER(alert TF) TF TO CONFIRM HIGHER TF), is it not that when a new trend is about to start, it starts with a lower TF? does it mean there won't be a trade for that time being until HigerTF confirms it? then pips will be missed

[Dave2]

At the moment I'm very happy with the EA, it's clocked up another good session. My demo balance now stands at just over $147. This is using default settings. Gonna see how my balance is at the end of a months trading, then will consider going live.

I have one question, is there any risk of there being a 'margin call' when trading the EA?

[watchout4me]

Originally Posted by Dave2

At the moment I'm very happy with the EA, it's clocked up another good session. My demo balance now stands at just over $147. This is using default settings. Gonna see how my balance is at the end of a months trading, then will consider going live.

I have one question, is there any risk of there being a 'margin call' when trading the EA?

if you can, can you post your screen shot, pls?

[Dave2]

Sure, I opened my account but it hasn't displayed it, only the chart.