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jshear Dec 12, 2019 9:45am | Post# 1241

{quote} What settings or part of the manual are you confused about?

Settings for lot sizes etc can you please post a pre set for each pair and the Close all for me. Thanks I want to have a better understanding and test it properly.


Jeff

Cubbybgood Dec 12, 2019 3:45pm | Post# 1242

{quote} Settings for lot sizes etc can you please post a pre set for each pair and the Close all for me. Thanks I want to have a better understanding and test it properly. Jeff
The problem with a preset for these settings is everybody has a different account size. I tried to make this as clear as possible in the manual. I've had over 2000 downloads of the EA and I've only come across 1-2 people that don't understand these settings.

I'm sorry, I will not be able to make these into a preset since every person using the BlastBands EA uses a different account size.

jshear Dec 12, 2019 3:54pm | Post# 1243

{quote} The problem with a preset for these settings is everybody has a different account size. I tried to make this as clear as possible in the manual. I've had over 2000 downloads of the EA and I've only come across 1-2 people that don't understand these settings. I'm sorry, I will not be able to make these into a preset since every person using the BlastBands EA uses a different account size.

Please explain the account side settings more clearly.

Cubbybgood Dec 12, 2019 3:56pm | Post# 1244

{quote} Please explain the account side settings more clearly.
Is this what you're confused about?

Risk/lot Rules 1000:1 leverage recommended minimum account size is $500
Max lot size = 0.01

500:1 leverage recommended minimum account size is $1k
Max lot size = 0.01

250:1 leverage recommended minimum account size is $2k
Max lot size = 0.01

100:1 leverage recommended minimum account size is $5k
Max lot size = 0.01

50:1 leverage recommended minimum account size is $10k
Max lot size = 0.01

jshear Dec 12, 2019 4:06pm | Post# 1245

{quote} Is this what you're confused about? Risk/lot Rules 1000:1 leverage recommended minimum account size is $500 Max lot size = 0.01 500:1 leverage recommended minimum account size is $1k Max lot size = 0.01 250:1 leverage recommended minimum account size is $2k Max lot size = 0.01 100:1 leverage recommended minimum account size is $5k Max lot size = 0.01 50:1 leverage recommended minimum account size is $10k Max lot size = 0.01
Yes. So for a 50k account at 100/1 would be max .1 per trade? Also there are other settings not explained properly. Grid martingale etc?

Cubbybgood Dec 12, 2019 6:26pm | Post# 1246

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{quote} Yes. So for a 50k account at 100/1 would be max .1 per trade? Also there are other settings not explained properly. Grid martingale etc?

The attached screenshots are probably the next part you're confused about...


The idea here is for every 0.01 lots traded, the EA should be looking for a profit of $0.5. I know this is complicated but it isn't just some ordinary EA. This is real trading and we need a more complex methodology and risk management in order to stay ahead of the market. These settings I'm referring to in the manual are in the BlastBands_EA settings. I even took a picture of what the setting looks like within the EA options.

We have a dual take profit function for the EA. Profit is being managed by both the BlastBands_EA and the Manage_Account_Profit EA. This gives us a bit more safty when we have quit a lot trades in the market. This is why I have the Manage_Account_Profit EA involved.

We also need the same take profit function for the Manage_Account_Profit EA.
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Cubbybgood Dec 12, 2019 6:34pm | Post# 1247

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Big profit today and this week with BlastBands V2.6 so far!


This tracked account may go public as early as next week so people can follow along...



I'm also testing it (for fun) on the GBPUSD and EURGBP. Look at this sequence of trades (in the attached screenshot) even during MASSIVE news like this! 300+ pips on the GBPUSD in a mater of minutes and my EA was able to get out with profit! 340 pip move and we only needed 22 pips from the top order to exit with profit. You can see the filter in action here when market volatility picks up!
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xxsskxx Dec 12, 2019 6:52pm | Post# 1248

Big profit today and this week with BlastBands V2.6 so far! This tracked account may go public as early as next week so people can follow along... I'm also testing it (for fun) on the GBPUSD and EURGBP. Look at this sequence of trades (in the attached screenshot) even during MASSIVE news like this! 300+ pips on the GBPUSD in a mater of minutes and my EA was able to get out with profit! 340 pip move and we only needed 22 pips from the top order to exit with profit. You can see the filter in action here when market volatility picks up! {image} {image}...
Very impressive. Will give this a try on my demo. Thank you for your contribution

Cubbybgood Dec 12, 2019 7:04pm | Post# 1249

{quote} Very impressive. Will give this a try on my demo. Thank you for your contribution

Great! I mean it's not ideal for the BlastBands EA to trade this type of GBP market, but you can see it's capable of being thrown curve-balls.

GodRa Dec 13, 2019 4:25am | Post# 1250

{quote} The attached screenshots are probably the next part you're confused about... The idea here is for every 0.01 lots traded, the EA should be looking for a profit of $0.5. I know this is complicated but it isn't just some ordinary EA. This is real trading and we need a more complex methodology and risk management in order to stay ahead of the market. These settings I'm referring to in the manual are in the BlastBands_EA settings. I even took a picture of what the setting looks like within the EA options. We have a dual take profit function...
What settings would I need for a $100k account? I have got 0.1 lots and $5 profit atm.

jshear Dec 13, 2019 7:08am | Post# 1251

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Thank you for your reply. This is the section I am confused on. I assume a 50K account at 100/1 leverage would be .1 lots as per your example but it't the rest of the settings I am confused about.Lot part 1 and 2 I assume is starting lot size. Also increase 1 and 2 and balance step?
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Cubbybgood Dec 13, 2019 8:36am | Post# 1252

{quote} What settings would I need for a $100k account? I have got 0.1 lots and $5 profit atm.
That's correct! What you should be using on that account size

Dogalot7 Dec 13, 2019 8:41am | Post# 1253

Thank you for your reply. This is the section I am confused on. I assume a 50K account at 100/1 leverage would be .1 lots as per your example but it't the rest of the settings I am confused about.Lot part 1 and 2 I assume is starting lot size. Also increase 1 and 2 and balance step? {image}
My understanding - the other Lot increase options are for the Martingale portion. So if the trade triggers a second or more trades, their lot sizes will increase by the amount specified. So trade example - 1st trade size is 0.1, 2nd trade would be 0.2.

GodRa Dec 13, 2019 8:47am | Post# 1254

{quote} That's correct! What you should be using on that account size
Thanks! I am taking part in the FTMO funding challenge, and need to make 10% of $100k with a drawdown of 10%. Is this a good EA for that?

Cubbybgood Dec 13, 2019 8:56am | Post# 1255

Thank you for your reply. This is the section I am confused on. I assume a 50K account at 100/1 leverage would be .1 lots as per your example but it't the rest of the settings I am confused about.Lot part 1 and 2 I assume is starting lot size. Also increase 1 and 2 and balance step? {image}

Ah yes! You're talking about the "balance step" option. The safest thing to do is to leave this part as is. The people that want to change this are those using the EA on a lower leveraged accounts. This setting allows the EA to increase it's risk when profit is made on the account. It also decreases risk if a loss were to take place as well.



For example, "increase 1" should fall into this same risk category as the previous settings. Since you're using 100:1 leverage on a $50k account, you would change the "balance step" amount to $5000 at 0.01 lots for both. I've underlined the risk category you should follow below...

Risk/lot Rules 1000:1 leverage recommended minimum account size is $500
Max lot size = 0.01

500:1 leverage recommended minimum account size is $1k
Max lot size = 0.01

250:1 leverage recommended minimum account size is $2k
Max lot size = 0.01

100:1 leverage recommended minimum account size is $5k
Max lot size = 0.01

50:1 leverage recommended minimum account size is $10k
Max lot size = 0.01



For "increase 2", this is a little different and I now realize I didn't explain this falls into the "lot part 2" setting. The standard setting

Risk/lot Rules 1000:1 leverage recommended minimum account size is $500
Max lot size = 0.03

500:1 leverage recommended minimum account size is $1k
Max lot size = 0.03

250:1 leverage recommended minimum account size is $2k
Max lot size = 0.03

100:1 leverage recommended minimum account size is $5k
Max lot size = 0.03

50:1 leverage recommended minimum account size is $10k
Max lot size = 0.03



I now realize how complicated this EA actually is. It has a lot of functions and it's been difficult trying to explain them to people that have never seen these before. Also, it's important not to overwhelm the user with too many options but the "increase 1", "increase 2", "lot part 1" and "lot part 2" are not mentioned in the manual. You're right, things could be explained better if I want people to use this EA correctly. I'm considering rolling back to my previous version based off the bolinger bands indicator untill I get this all fixed. It has a more straight forward trading style. It also doesn't have a "lot part 1" and a "lot part 2" option. I will think about this over the weekend. V2.6 needs to be commercialized if I want this EA to have mass appeal... Thanks for bringing all this to my attention jshear

Cubbybgood Dec 13, 2019 9:06am | Post# 1256

{quote} Thanks! I am taking part in the FTMO funding challenge, and need to make 10% of $100k with a drawdown of 10%. Is this a good EA for that?
It can be but it's important to watch the DD. You have a max DD of -10% and need to make 10%. I would consider bouncing the risk down. The best way to find out if you can reach the 10% profit and -10% DD goal is doing a few backtests to see what will get you close to the 10% profit mark while keeping you DD manageable.

For example, if you using the EA on 3 pairs. you would want about 3.5% profit a month on each pair on average. It's important not to try to shoot for 10% profit on 1 pair only. Spread the risk around to other pairs. This will keep your DD lower.

I'm working on a version of this EA that includes a SL. Right now it doesn't which I don't like to much. The EA can backtest for years at a time with no involved SL but still, it should have some kind of safety net eventually. I have no SL in place right now so the EA can use all available margin in it's current state. It will continue to be updated over time and likely include a SL of some kind. If I don't include a SL, I'll include even more filters to help manage DD.

Cubbybgood Dec 13, 2019 9:10am | Post# 1257

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By the way, the RMI EA did awesome this week even with all the GBP news!


Results pulling along very well on this 50:1 low-leverage account!



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jshear Dec 13, 2019 10:16am | Post# 1258

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Love the smart grid feature
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Cubbybgood Dec 13, 2019 10:20am | Post# 1259

Love the smart grid feature {image}
Yeah! I do as well! We have a tight grid of only 3 pips with V2.6. That is a 38 pip candle and the EA would have been in trouble without this feature for sure! It also blocks us from Black-Swan or flash crash events as well!

Pipster101 Dec 13, 2019 10:22am | Post# 1260

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" I'm considering rolling back to my previous version based off the bollinger bands "





hi Cubby, looking forward to the above. Boxing day Sale ? anyone...

Pls see equity growth from your V1.
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This is quite a handful mate. Thanks.


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