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TGS Mar 23, 2017 1:07pm | Post# 21

check this one on all majors on h1 time frame {file}
That's an "interesting" one.

TGS Mar 24, 2017 4:41am | Post# 22

check this one on all majors on h1 time frame {file}
To clarify my previous post, by "interesting" I was meaning I blew my account with it when I was a fresh newbie. I wasn't implying it is interesting and should be tried.

thodie Apr 12, 2017 8:15am | Post# 23

no more profitable robots out there?

COGSx86 Apr 12, 2017 10:36am | Post# 24

no more profitable robots out there?
Take your pick!

https://www.mql5.com/en/market/mt4/expert

thodie Apr 12, 2017 11:03am | Post# 25

you did not read the first post hm?

Jerkmiew Apr 12, 2017 12:44pm | Post# 26

http://www.myfxbook.com/members/lycustrader

But no idea how this done

TGS Apr 12, 2017 1:12pm | Post# 27

I'm not sure either but it might be some sort of Martingale as noticeable by the equity curve.

Crackpot Apr 12, 2017 1:16pm | Post# 28

Scam broker, broker scam.

hanover Apr 12, 2017 7:11pm | Post# 29

So if someone says what is wrong and where is the fish smell coming from - thanks.
Yep, pretty obviously a martingale with a multiplier of 4 (0.2 lots -> 0.8 -> 3.2 -> 12.8 -> .....). Look at how every red ink (loss) trade is followed by a 4x size increase, and then reverts back to 0.2 lots following a win.

And even if it wasn't a gale, it's friggin lunacy to even bother with 0.2 lot positions if you know that some of your positions are going to be 64x as large (12.8 lots). The probability of one trade winning is NEVER going to be 64x as great as another, in order to justify that kind of sizing spread.

Glad he isn't trading with my money.

Copernicus Apr 12, 2017 7:45pm | Post# 30

1 Attachment(s)
{quote} This one is very nice but it seems to be semi automated - he hedges trades as far as i see.
The Finch system as I understand it is an aggressive mean reverting system for the adrenalin junkie that utilises the RSI Knoxville Divergence indicator as a basis to enter trades. It has small profit targets and a very high win rate.....however it does have an ugly side that you need to be aware of and can send you into deep drawdown mode.

All is good while you win (which using the knox divergence for entry and a small profit target is v. high) but if price moves against you, you wait for a defined period of a move against you and then look for another RSI divergence as a basis to re-enter with 3x your original position size. You either achieve a breakeven condition and save the day with your losing trades or if price continues to go south you get hit with a material loss dependent on when you exit (or if you exit) which is the sting in the tail. You can set a defined stop as a max loss condition or attempt to ride it out till price returns to the breakeven. There are variants as well to this approach (Kingfisher etc.) which Rob discusses....but in general they have the same flavour.

Scott I understand trades with $190K with total trade capital backing of $400K to make his $1K a day target....but you need cohonas to trade this. Some of Rob's group get overly excessive with trading multiple pairs using this strategy....but each to their own. I s'pose you live only once....the problem is that it is your death that defines how long you live it.

I mean....the probabilities of failure are so low....it just won't happen to me?

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hanover Apr 13, 2017 3:14am | Post# 31

I s'pose you live only once....the problem is that it is your death that defines how long you live it. I mean....the probabilities of failure are so low....it just won't happen to me?
C,

Thanks for the info. A friend of mine has been experimenting with these "high win rate, small profit target, unlimited risk and (sometimes) add-to-losses" type of EAs. As he points out, the key is to find a way of somehow "managing the losses", which sounds easy enough in theory, especially as they are relatively rare. IMHO these systems are great for vendors, because they can win for a long time -- giving the vendor plenty of time to collect favorable testimonials from clients who believe they've found the grail -- before the runaway loss eventually strikes. Not the way I like to trade: I sleep more easily knowing that (possible) losses are contained, and the only way a big overnight move can run is in my favor........ but then each to their own. One thing's for sure, no matter what the approach, there is no such thing as return without taking some kind of risk. Trading offers a diversity of potential approaches to suit many different tastes.

Copernicus Apr 13, 2017 3:50am | Post# 32

{quote} C, Thanks for the info. A friend of mine has been experimenting with these "high win rate, small profit target, unlimited risk and (sometimes) add-to-losses" type of EAs. As he points out, the key is to find a way of somehow "managing the losses", which sounds easy enough in theory, especially as they are relatively rare. IMHO these systems are great for vendors, because they can win for a long time -- giving the vendor plenty of time to collect favorable testimonials from clients who believe they've found the grail -- before the runaway...
I am like you H. I prefer to be able to sleep at night. Those type of strategies give me heart-burn. :-)

aaven Apr 13, 2017 4:16am | Post# 33

{quote} C, Thanks for the info. A friend of mine has been experimenting with these "high win rate, small profit target, unlimited risk and (sometimes) add-to-losses" type of EAs. As he points out, the key is to find a way of somehow "managing the losses", which sounds easy enough in theory, especially as they are relatively rare. IMHO these systems are great for vendors, because they can win for a long time -- giving the vendor plenty of time to collect favorable testimonials from clients who believe they've found the grail -- before the runaway...
Hanover,

Could you please expand more:

" I sleep more easily knowing that (possible) losses are contained, and the only way a big overnight move can run is in my favor......."

How do you ensure that an overnight move is in your favor?

Thanks

Deevog Apr 13, 2017 4:26am | Post# 34

YES, Show me a profitable Trade Explorer / Myfxbook link or Screenshot of a Expert Advisor you have used on your Life account. No matter if it is bought, selfcoded or found on the Internet. Just like to see results. Have a nice Weekend.
Some peoples have profitable automated experts but depends some conditions and how they used it.

thodie Apr 13, 2017 6:55am | Post# 35

{quote} Some peoples have profitable automated experts but depends some conditions and how they used it.
some People have cats and dogs...

hanover Apr 13, 2017 11:51am | Post# 36

Could you please expand more: "I sleep more easily knowing that (possible) losses are contained, and the only way a big overnight move can run is in my favor......." How do you ensure that an overnight move is in your favor?
Sorry if this disappoints, but there's nothing magical or exciting to be said -- you can't really "ensure" anything -- instead I expect I'll get lynched by the no-SL/nedging mob for daring to suggest the obvious:
Suppose my analysis tells me that price is more likely to rise than fall. Then I would set a SL at something like 0.25 ADRs (say that works out at 15 pips) below my entry, and go to bed. Then if price 'unexpectedly' rises 100 pips overnight, I make 100 pips. Whereas if price falls 100 pips, I lose only 15 pips. Hence any 'unexpectedly' large move can only work out in my favor.

Another technique I've been using is what I call 'large candle rollback'. Seems to work best on H4, although in theory you could try the concept on any TF. If I'm in a buy trade, and price closes above the 75% mark of an abnormally large candle (say a H4 candle that's > 0.5 ADRs), then I anticipate some profit taking; hence my management EA exits the position and immediately opens a buylimit order 0.33 ADRs below the exit. If the order doesn't fill, I lose nothing. If it does, I'm back in the market in my preferred direction at a 'better' price, and having banked some pips. Doubtless the numbers could be better optimized but that's the general idea that I've been playing with. And of course you could experiment further by closing only part of the original position. I'm also currently running some stats to see if the concept works better at certain times during the day.

Skat Apr 13, 2017 1:12pm | Post# 37


Hi Hanover,

what are your thoughts on this trader , http://www.myfxbook.com/members/Hose...rtyone/1059719 , should I buy his book.

Your opinion is gold.

Regards
skat

badeel Apr 13, 2017 2:02pm | Post# 38

1 Attachment(s)
100% profit able EA but expired if someone can remove expiry good ea.

EURUSD
1H
SL50
TP200
Thanks For help

Blombo-Go.ex4

hanover Apr 13, 2017 3:01pm | Post# 39

What are your thoughts on this trader ...... should I buy his book. Your opinion is gold.
LOL, my opinion is that of a successful programmer, not a professional trader. I play with forex because I find analyzing the markets interesting, and I enjoy tinkering with trading systems; any profit from my small account is beer money (and for buying trading books ). I might buy the book (apparently it's $59) if I wanted some fresh ideas for trading systems, that I could potentially develop further to suit myself, regardless of how successful I believed the author might be. But that is just me.

I just listened to Rob Booker's podcast interview with Mr Heywood. Didn't learn a huge amount about the details of his 'Finch' trading system. Apparently the entries are based around divergences. My first big question would be: how much of his high win rate is due to this setup providing directional bias (i.e. would it still be profitable if traded at 1:1 RR?), and how much depends on the fact that he merely lets his losses escalate until they eventually return to profit? If there's a robust directional bias then I would simply use the setup alongside my own preferred trade/risk management. Conversely, if the (alleged) edge comes from the trade management, then I would first want to see a track record of several years. Why? Because (ironically) with high win rate systems, losses are rare, and the key to survival is understanding the nature of those losses; depending on your (lack of) management, one runaway loss might be enough to cause a margin call. A system with only a few losses might not have encountered that 'black swan' loss yet, making it unjustifiably appealing to the uninitiated.

The rest comes down to your personal trading philosophy: account size, your ability to stomach drawdown, whether you prefer high or low RR strategies, etc. For example, are you planning on quitting your job and trading a serious size account, in which case a severe drawdown would be financially damaging; or are you going to start with an inconsequential amount, and just see how far you can grow it, i.e. if you hit a margin call, you could easily afford to start over? In the myfxbook link you provided, his open trades are currently down $65,000 or 26.1%. Only you can decide how you might cope with that kind of stress. Also, keep in mind that if trading is going to be your primary source of income, then (1) any hope of exponential growth toward a life changing amount is constantly being depleted by paying bills and taxes; and (2) if the trading profits are erratic (occasional losing weeks/months) then you still have to find a way of paying your bills in the interim. Added stress.

If you want some tips from a genuinely successful pro trader, I'd suggest a YouTube search for Tom Dante's videos. Tom doesn't use EAs, but he's been trading for 17 years and has been profitable for the last 10 of those, using 'textbook' risk management (cutting losses etc). He's traded in prop alongside guys who were making 100k for the firm on some days, and I expect he's learned a lot of his craft from them. Be warned, some of his language is colorful, but he's the real deal and pulls no punches.

Getting off-topic now so I'll make this my last post in this thread.
Good luck.

100% profit able EA but expired if someone can remove expiry good ea. EURUSD 1H SL50 TP200 Thanks For help
1. No programmer can help unless you provide the .mq4 file.
2. If software has expired, it probably means that the developer/distributor is owed (another) payment. Piracy is theft.

Skat Apr 14, 2017 2:20am | Post# 40

{quote} LOL, my opinion is that of a successful programmer, not a professional trader. I play with forex because I find analyzing the markets interesting, and I enjoy tinkering with trading systems; any profit from my small account is beer money (and for buying trading books ). I might buy the book (apparently it's $59) if I wanted some fresh ideas for trading systems, that I could potentially develop further to suit myself, regardless of how successful I believed the author might be. But that is just me. I just listened to Rob Booker's...
That is gold explanation and thank you v much. I will deeply look into Tom Dante's videos. Stay blessed bro. TY again.


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