[desi]

Originally Posted by seller9

Hi
Very interested in EA but have a couple questions.
1) Can I run it on a US broker with the new hedging rules?

You have to choose a broker who allows hedging.

2) Whats the best time frame to run it on?

EA is independent of time frame, so just attach it to any chart.

3) What pairs work the best?

Works better on volatile pairs i.e., G/U, E/J, G/J, etc., but you can try other pairs.

I attached it to a H1 USDCHF chart on IBFX Demo with the default settings just to see what it looked like. It showed 3 buy stop and 3 sell stop orders. The first buy stop got hit and opened and is presently trading with a small loss. What happens if the first sell stop is also hit with the buy still open?
Thanks
Gene

Read the thread to understand the basics of this EA. Good luck.

[magicchance]

Hey guys, sorry if this has been asked/answered already, but can anyone explain why the one lot amount (circled) is larger than the rest?

[plasmapants]

Originally Posted by magicchance

Hey guys, sorry if this has been asked/answered already, but can anyone explain why the one lot amount (circled) is larger than the rest?

See postings by Hanover at the begining of the thread. He gives a good explanation about how this system works.

[seller9]

Sorry I asked the wrong question about time frame in the earlier questions, what I wanted to know is what chart time frame works the best or is everyone having the best luck with? I see the previous post was using M15, is that what everyone likes the best?

Appreciate your help

Gene

[magicchance]

I still don't see where this question has been answered. I fully grasp the concept of loss mitigation and why the final lot size might be higher than the rest. I don't believe it to be necessary with this EA and I would prefer to have it removed, but I do at least think I know why it was put there in the first place.

But why is it only attached to the final Sell level and not the Buy? That seems lopsided to me, and this is exactly the type of inconsistancy a broker can one day take advantage of to our detriment.

If I've missed this point in my reading I apologize and only ask to be directed to the right post where this has been explained.

[tradingviper]

Originally Posted by seller9

Sorry I asked the wrong question about time frame in the earlier questions, what I wanted to know is what chart time frame works the best or is everyone having the best luck with? I see the previous post was using M15, is that what everyone likes the best?

Appreciate your help

Gene

The basic strategy is independent of indicators and therefore independent of chart timeframe, so it make no difference at all.

Some of the entry filters (trend filter, vol filter, etc.) do use indicators and they are based on the chart timeframe, so they are the only part that matters. If you are using them, longer chart timeframes are probably better.
Viper

[tradingviper]

Originally Posted by magicchance

I still don't see where this question has been answered. I fully grasp the concept of loss mitigation and why the final lot size might be higher than the rest. I don't believe it to be necessary with this EA and I would prefer to have it removed, but I do at least think I know why it was put there in the first place.

But why is it only attached to the final Sell level and not the Buy? That seems lopsided to me, and this is exactly the type of inconsistancy a broker can one day take advantage of to our detriment.

If I've missed this point in...

The method really has been described in detail, especially early on in the thread. Each level uses a different lot size. It will increase the lot size on the buy side if one of your sell orders gets triggered also. Read more, play more, watch it more, it does work...
Viper

[seller9]

Thanks guys for all the answers but I have one more.
I presently am using FXDD and Alari US and am wondering what broker I can use for this EA as I am in the US.
Thanks
Appreciate your answers

Gene

[plasmapants]

Originally Posted by magicchance

I still don't see where this question has been answered. I fully grasp the concept of loss mitigation and why the final lot size might be higher than the rest. I don't believe it to be necessary with this EA and I would prefer to have it removed, but I do at least think I know why it was put there in the first place.

But why is it only attached to the final Sell level and not the Buy? That seems lopsided to me, and this is exactly the type of inconsistancy a broker can one day take advantage of to our detriment.

If I've missed this point in...

The basic principle in any martingale system is that as long as you have more opens positions heading in one direction than in the other, when price breaks out, you will be in profit.

So for every buy order that is taken, we are adding to the pending sell orders just in case price reverses, and for every sell order that is taken we add pending orders on the buy side just in case price reverses.

With the orignal mGrid, porders were being added at every level. This caused a problem in that if the price constantly spiked above and below the pivot you could have hundreds of porders being placed. With vGrid, we start by placing porders at the furthest level first and then work our way to the pivot. This hugely reduces the potential for spikes and consequently the number of porders placed.

Hope that helps.

[plasmapants]

Originally Posted by seller9

Thanks guys for all the answers but I have one more.
I presently am using FXDD and Alari US and am wondering what broker I can use for this EA as I am in the US.
Thanks
Appreciate your answers

Gene

Your going to need a broker outside of US.

Try Alpari UK or Nord Markets.

[magicchance]

Thanks guys, that explains it. Thanks for taking the time.

But along that same line, will the lots increase every time a line is crossed as in a tightly ranging market (4, 5, 6 times?), or just once and that's it?

Tradingviper, I've had this running the past 24 hours on GU and it's cycled thru 4 times already with almost zero DD. No convincing is needed! I'm sold! But this lot size "issue" didn't crop up until today when volume slowed enough to encourage a range to form.

Again fellas, thanks for all your help. I can't wait to see how this progresses.

[tradingviper]

Originally Posted by magicchance

Thanks guys, that explains it....

Hi Magic,
The original orders are placed using your initial lot size. Then evertime an offsetting order needs to be placed, it is placed with the initial lotsize times the level. That is fixed and does not increase or change. It may need to purchase at all levels and sometimes more than once to offset a potential loss, but the lotsize is fixed based on level.
Hope that helps.
Viper

[magicchance]

Thanks Tradingviper, I'm all out of questions now.

Take a look at the pic. The screen has looked like this for nearly 30 minutes. The EA has cycled successfully 7 times in 30 hours (wow, amazing!!!) but now the platform won't allow the pendings to be set into place. I can't prove the broker is at fault, but what else can it be? For me, cynic that I am, this is just more evidence of broker manipulation. This is also a perfect example of why we should have stealth settings.

[seller9]

Hi guys
I opened a demo account on a non US broker to see how the EA would work. I put it on the GBPUSD M15 chart at the default settings out of the box. I started it about 12 hors ago and went to bed. This morning I checked it before going to work to see how it was doing. Just a quick look I saw 2 losses but the account was up +7% with a bunch of other pending orders, and a couple open orders. I will take a closer look tonight when I get home from work and see what its doing.
Does this sound like its doing whats its suppose to be?
I am happy with the 7% in about 12 hours but was wondering about the 2 losses.

Thanks
Gene

[tradingviper]

Originally Posted by seller9

Hi guys
I opened a demo account on a non US broker to see how the EA would work. I put it on the GBPUSD M15 chart at the default settings out of the box. I started it about 12 hors ago and went to bed. This morning I checked it before going to work to see how it was doing. Just a quick look I saw 2 losses but the account was up +7% with a bunch of other pending orders, and a couple open orders. I will take a closer look tonight when I get home from work and see what its doing.
Does this sound like its doing whats its suppose to be?
I am happy with...

Every SET will close in profit (assuming you have more margin than the market demands). That can be a mixture of winning positions and losing positions. The system ensures that you have more winning positions than losing ones. In very sideways markets, you may have many many losing trades and a few more winning trades. Be aware also that you can experience significant drawdown waiting for the market hit our targets.

Make sure you read through the thread to understand the risks. This EA can (some say inevitably WILL) wipe out your account in a prolonged period of sideways consolidation.
Viper