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(binned per thread starter’s request) MM (Money Maker) Detective

  • #1,961
  • May 26, 2019 3:35am May 26, 2019 3:35am
Quoting Robot Trader
{quote} You should chat to my son he uses 3D modeling software to optimize one of our EA's, he can look at the different Axis and there relationship to each other within the different indicators that form the Strategy {image}

@Robot Trader -- holy smokes, that is very cool!!!

I think what this shows is the strategy performs better or worse depending on the Mean and Std Deviation. The Mean and Std Deviation depend on the current market conditions and price data. If combinations of the Mean and Std Deviation correlate with certain cycles (as @RickM refers to) or market conditions, then by measuring the Mean and StdDev your software could toggle the EA ON and OFF such that it only executes under conditions of high profitability. When you can relate certain metrics with profitability, then this opens the door for toggling strategies ON and OFF -- which is very powerful and a winning approach.
  • #1,962
  • May 26, 2019 4:19am May 26, 2019 4:19am
Quoting robots4me
{quote} @Robot Trader -- holy smokes, that is very cool!!! I think what this shows is the strategy performs better or worse depending on the Mean and Std Deviation. The Mean and Std Deviation depend on the current market conditions and price data. If combinations of the Mean and Std Deviation correlate with certain cycles (as @RickM refers to) or market conditions, then by measuring the Mean and StdDev your software could toggle the EA ON and OFF such that it only executes under conditions of high profitability. When you can relate certain metrics...
Yes you are on the right track (very good observation), the EA is coded in MT5 because we can test more than one currency pair at a time using that platform.

The EA trades the correlation between currency pairs A & B (negative or positively correlated pairs can be traded) when the EA detects they have come out of sync (from the Mean) it also works out by what percentage and then works out the SL (which is also dynamic) on an R:R basis, if this R:R does not fit our Strategy the trade is skipped. So yes it only takes high probability trades and it's win rate is over 80%
Some people say I'm lucky, but the more I practice the luckier I get
  • #1,964
  • Edited 6:25am May 26, 2019 6:04am | Edited 6:25am
Quoting Robot Trader
{quote} Yes you are on the right track (very good observation), the EA is coded in MT5 because we can test more than one currency pair at a time using that platform. The EA trades the correlation between currency pairs A & B (negative or positively correlated pairs can be traded) when the EA detects they have come out of sync (from the Mean) it also works out by what percentage and then works out the SL (which is also dynamic) on an R:R basis, if this R:R does not fit our Strategy the trade is skipped. So yes it only takes high probability trades...
Hi Robot Trader

Great stuff and your results sound impressive.

Just to give some of our readers another approach to trading EA's, I don't give a stuff if a EA produces a a 10% return on a pair like EURUSD. It can only win 65% of the times too but this doesn't matter. It just needs to be robust to be able to be traded on many pairs at the same time.

I harvest pips.

That means I trade any where from 15 to 35 charts at the same time with one EA. If you consider each chart returns 10% to 15% return a year using the same shared equity, that gives us a 200% plus return a year on ONE ACCOUNT. So I can just HARVEST PIPS slowly in great numbers and even keep my broker happy because I trade a ridiculous amount of volume per year.
So win rate for me is the least important factor in harvesting a income out of EA's.
Its all about volume, one account even trades 56 charts from the same EA at the same time.

Its Madness but the pips roll in.

I have a testing program that tests MT4 EA's on multiple pairs at the same time, while breaking down a whole portfolio account to monthly results. This allows me to MATCH UP pairs to allow for good profits while protecting the draw down.

No manual trader could ever keep up with a EA on work load alone.
Trading thin liquidity at the boundary of the charts
  • #1,965
  • May 26, 2019 6:44am May 26, 2019 6:44am
Hi Traders & Steve

If I could be allowed one more post on EA's before I shut up.

Can I give you a live example on how I perform the task of harvesting Pips.

Here is a account around 15 weeks old and it trades a reversal model using a Bollinger band set to Extreme levels as its signal to trade.
It trades mainly on the 1 hour chart with USDJPY on the 4 hour chart.
It trades AUDUSD / AUDNZD / AUDCAD / EURCAD / EURNZD / EURJPY / GBPAUD (my favourite EA pair) / NZDCAD / USDCAD / USDJPY
That is a very small amount of pairs for me but I intend to grow this account into about 25 pairs and increase the Lot size if this account remains healthy.

I did post this chart elsewhere last week so I apologize if you saw it. I normally never show my results for reasons i won't go into.

Trade safe guys for next week.
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Trading thin liquidity at the boundary of the charts
  • #1,969
  • May 26, 2019 2:27pm May 26, 2019 2:27pm
My fault for going down the path of EA builders -- totally unrelated to this thread and deserving of its own. It started with a discussion of whether or not Demo accounts are useful and when or when not to use them.

When you ask @RickM for which EA builder he uses -- thinking you'll be able to reproduce his results -- it's like me asking Roger Federer which tennis racket he uses -- thinking it will allow me to play tennis like him. It isn't the tennis racket, it's the player. In the case of EA builders, it isn't the software, it's the fellow using the software (@RickM).

A simple Google search for "forex EA builder" will yield many results for anyone who wishes to explore further. Thanks for the brief diversion, but I wish to remain focused on how best to trade in the face of the MM's manipulation.
  • #1,970
  • May 26, 2019 2:34pm May 26, 2019 2:34pm
Quoting VEEFX
{quote} I will share more on my own automation as it is quite similar to what you are doing but first, I would love to know more about how you test each EA? I did that by replicating the EA logic into scripts (everything I did was in building blocks to ease with my own testing automation) to dump results in it's own CSV files... quite painful but could not find any other way out. So, here's my automation framework (kind of off-topic only to piss off my friend a little more hehe) For each long or short direction, device one setup for each of the...
Hey @VEEFX -- appreciate your presence here and input. But as I requested -- please avoid injecting different methodologies. You can see how quickly a thread devolves into many different directions.
  • #1,971
  • May 26, 2019 2:36pm May 26, 2019 2:36pm
Quoting robots4me
{quote} Hey @VEEFX -- appreciate your presence here and input. But as I requested -- please avoid injecting different methodologies. You can see how quickly a thread devolves into many different directions.
your thread your rules bro.... deleting and I am outta here as I don't belong here at all :-

On a final note.... I suggest you listen to George's last post in this thread. LGs will get you nowhere other than whipsaw your equity curve.
Staying in my lane...
  • #1,972
  • May 26, 2019 3:03pm May 26, 2019 3:03pm
Quoting VEEFX
{quote} your thread your rules bro.... deleting and I am outta here as I don't belong here at all :- On a final note.... I suggest you listen to George's last post in this thread. LGs will get you nowhere other than whipsaw your equity curve.
@VEEFX -- thanks for understanding. And, yes, when @George speaks we all take notice...
  • #1,973
  • May 26, 2019 3:58pm May 26, 2019 3:58pm
Quoting George AUS
A very good morning to all ,,,,, I tend to casually follow from time to time as to what is happening here Steve ,,,, Sadly ,,, In my PERSONAL opinion,,,, There seems to be much emphasis on things that are NOT important ,,, I will sum things up again ,,,, THE MARKET WILL ONLY MOVE 1 OF 2 DIRECTIONS ,,,, NO 1 --- TAKE OUT THE ,,, STOPS ,,, ABOVE THE PERVIOUS TOP TARGETS ,,,, NO 2 --- TAKE OUT THE,,, STOPS ,,, BELOW THE PREVIOUS BOTTOM TARGETS ,,,,, Forget the LIQUIDITY GAPS ... They are apart of the PARCEL OF THE MOVE TO ACHIEVE THE ABOVE 2 POINTS...
George,
I was honestly a bit concerned how this forum become diverted from target points and pressure zones to pin point tops, bottoms and reversals into Liquidity Gap in order to find direction after being left behind. It seems to me LG is a very small part of what George is shouting loud and clear. Steve, you are a man to be appreciated, I find this forum helpful to see many views after George restricted from posting. Thanks.
JP
  • #1,974
  • May 26, 2019 4:27pm May 26, 2019 4:27pm
Quoting JPworks
{quote} George, I was honestly a bit concerned how this forum become diverted from target points and pressure zones to pin point tops, bottoms and reversals into Liquidity Gap in order to find direction after being left behind. It seems to me LG is a very small part of what George is shouting loud and clear. Steve, you are a man to be appreciated, I find this forum helpful to see many views after George restricted from posting. Thanks. JP
Hello @JPworks -- this is not a "how to" thread. I'm not an expert who is here to keep feeding information to an audience of readers. If something shiny passes by (e.g. liquidity gaps) then I might be inclined to take a closer look. How would I know any better? There isn't anyone looking over my shoulder to guide the way. If you were concerned we were headed in a wrong direction then why didn't you speak up?

I picked up some things from @George and other things went over my head. You're a more experienced trader and, so, there may have been things that were "loud and clear" to you, but which were obtuse to me. We can use experienced hands here to exchange ideas and observations that will ultimately keep us moving in the right direction. I emphasize the word "exchange" because, with the exception of advice from @George, everyone else's input is open for discussion.

As for @George "restricted from posting" -- I know what you mean but the way you phrased it isn't fair to him. @George's thread was not about a methodology -- though 99% of the people who read his thread never grasped that. @George made his peace and realized there wasn't more to add. It was clear to me that people kept asking the same questions and making the same comments -- who needs that? That's no fun to deal with everyday. So, just like you would have done, he decided to back away. I would never put his effort in a negative light. He did us all a huge favor and decided to spend more time doing what he enjoys most -- trading. Would you really fault him for that?

Yes -- we all wished for more details -- but so what. I wish I was 6' 8" and could dunk a basketball. We'll keep moving forward and figure out a solution -- or maybe not. I don't have a crystal ball...
  • #1,975
  • May 26, 2019 5:39pm May 26, 2019 5:39pm
I've just now shared (i.e. uploaded) a new indicator -- MM-SessionsIndi.ex4.

MM-SessionsIndi can be used to highlight the different Forex sessions -- Tokyo, London, New York and Sydney. Using the buttons along the left-hand side you can toggle which sessions are highlighted and mix and match as you wish. If you look closely, it is apparent that price action is not created equal for each session -- especially when you experiment with different pairs. This indicator can be used standalone or overlayed on top of other indicators.

You can download this indicator from Post #1. It is bundled in the *.zip file MM-Indis_XXXXX.zip.

Attached Image (click to enlarge)
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  • #1,976
  • May 26, 2019 5:42pm May 26, 2019 5:42pm
I've just now shared (i.e. uploaded) a new indicator -- MM-ADRIndi.ex4.

MM-ADRIndi is used to display the Average Daily Range (ADR) over the past N days (where the default for 'N' is 20). This ADR indicator is more graphical
than most because I chose to show how well (or poorly) the ADR overlays the past N days. The ADR is an average -- so for some days it brackets the High and Low prices well and on others days not so well. This indicator can be used standalone or overlayed on top of other indicators. In one of the screen shots below you can see that I've combined it with the MM-SessionsIndi.

You can download this indicator from Post #1. It is bundled in the *.zip file MM-Indis_XXXXX.zip.
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  • #1,977
  • May 26, 2019 5:50pm May 26, 2019 5:50pm
Quoting JPworks
{quote} George, I was honestly a bit concerned how this forum become diverted from target points and pressure zones to pin point tops, bottoms and reversals into Liquidity Gap in order to find direction after being left behind. It seems to me LG is a very small part of what George is shouting loud and clear. Steve, you are a man to be appreciated, I find this forum helpful to see many views after George restricted from posting. Thanks. JP
The Meat Ball and Gravy is in "What actions does George take When a such Top/Bottom is Reached?". He is a Sniper waiting for his target. Direction or how price got there is irrelevant (atleast from what I am tell).

@Steve - In regards to your comment on "being selfish" and not releasing codeset.....please take this with a grain of salt. Lurkers or those who have had private sessions with George who understand far more than you (like BlueSteele, Pooh and several others) are all most likely thinking....
"What's in it for me?"
"Why should I help Steve devise a automated strategy only for him to one day disappear with no source code available to maintain?
"Why should I help Steve if one day, his compiled indicator/EA would simply expire?"

Time is money. Being a developer, I completely understand the hard work that is going in to create something BUT you cannot expect a lucrative exchange of ideas when there is risks and caveats written all over it. I have myself been DUPED a dozen times with such so called nice developers willing to help. I have written DETAILED 15-25 page long soup and nuts strategy requirements only for these nice developers to run away from me. That may not be you but there are lot of degenerates lurking here on forums waiting to sell their mother to make a quick dime! The ONLY way to have honest and decent collaboration with equal equity is to have an open source project. Trust me! In MQL, there is nothing you can code that is considered "Intellectual Property" for anyone to steal. There is not a function or logic that is not available in open source here and elsewhere. Open Source is the only way to benefit yourself and everyone else participating. You will most likely not agree with me so wait and see how many likes this post gets and make your own judgement. I am saying this as a independent 3rd party not at all interested in the progress of this thread or the strategy that George has shared. Please take it at face value :-)
Staying in my lane...
  • #1,978
  • May 26, 2019 5:56pm May 26, 2019 5:56pm
Attached Image (click to enlarge)
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The MM-SessionsIndi and MM-ADRIndi are brand new indicators -- I've just begun experimenting with them. I hope you will as well and share any interesting observations.

As as example, I noticed something interesting with price action during the overlap between London and NY. Maybe it's just my eyes. And it doesn't happen 100% of the time. But it appears that during the 4-hour overlap the price moves in one direction.

Also, be aware, depending on the time frame of the chart you attach this indicator to there will be more or less bars displayed in the overlap region.
  • #1,979
  • May 26, 2019 5:59pm May 26, 2019 5:59pm
Quoting robots4me
{quote} Hello @JPworks -- this is not a "how to" thread. I'm not an expert who is here to keep feeding information to an audience of readers. If something shiny passes by (e.g. liquidity gaps) then I might be inclined to take a closer look. How would I know any better? There isn't anyone looking over my shoulder to guide the way. If you were concerned we were headed in a wrong direction then why didn't you speak up? I picked up some things from @George and other things went over my head. You're a more experienced trader and, so, there may have been...
Steve,
I have great respect for George. No one has addressed as he did as far as I know about the psychology of trading and the role of MMs. He also addressed the possibility of pin pointing of reversals and retracements. However, most of us find it challenging where the points are as price travels from target to target in which target point it occurs. I am not at all objecting what you are pursuing, I am still following you and learning. I thought I am throwing a reminder to focus on what is happening after the target instead of chasing where price goes way far beyond, looking into LG. If you feel we are on track please ignore my comments. JP
  • #1,980
  • Edited 6:55pm May 26, 2019 6:45pm | Edited 6:55pm
Quoting VEEFX
{quote} The Meat Ball and Gravy is in "What actions does George take When a such Top/Bottom is Reached?". He is a Sniper waiting for his target. Direction or how price got there is irrelevant (atleast from what I am tell). @Steve - In regards to your comment on "being selfish" and not releasing codeset.....please take this with a grain of salt. Lurkers or those who have had private sessions with George who understand far more than you (like BlueSteele, Pooh and several others) are all most likely thinking.... "What's in it for me?" "Why should I...
Hey @VEEFX -- thanks for your post.

I think you read me wrong. I'm not asking for anyone's help. With nearly 2000 posts I've never asked for anything. I share tools that I've developed because it gives me satisfaction when people find them useful. I like asking and answering questions. I eat this stuff up and want to learn more. @George and his colleagues have done more than enough. I'll figure things out from here -- along with others who are interested -- or we won't.

One important area where we differ is you have nothing more to learn -- you already know it all -- so, you will never ask a question. You will never contemplate something that lies outside your current beliefs.

A few posts back @George wrote:
Forget the LIQUIDITY GAPS ...
They are apart of the PARCEL OF THE MOVE TO ACHIEVE THE ABOVE 2 POINTS ! ! ! !
THAT IS ALL WHAT IS HAPPENING IN THIS AMAZING BUSINESS ! ! ! !
Suggestion ,,,
KISS APPROACH IS BEST ! ! ! !

You have posted a couple of times now emphasizing the importance of following @George's advice. And I'm trying to figure out why you felt the need to do that? I mean, from Post #1 stating everything here was inspired by @George and almost every post acknowledging @George, you still found it necessary to advise me to pay attention to @George's advice.

In @George's post he mentioned two things:
1. Forget liquidity gaps
2. KISS approach is best.

You had no problem advising me to follow @George's advise about liquidity gaps, but your mind totally ignored his second, more important, piece of advice -- KISS. And we know why -- your approach to trading is the antithesis of KISS. OMG -- earlier you posted a header with over 350 settings. And a few posts back you wrote another that has zero meaning to anyone here except to impress people with how complex your approach is.

I learn a lot from FF about trading, but it should also be required reading for psychology 101 students. Here we have an example where in one sentence you advise me to follow @Georges advise and in the next sentence you do the exact opposite. And you're not even aware of it.

Back in the day programmers would develop monolithic systems (ever heard of NASA?). But around the 1980's object oriented design began to emerge. The main problems with monolithic designs include (a) difficult to maintain, (b) impossible to debug, and (c) the code is not re-usable in the next project. This is all due to the complexity of monolithic systems. Since then, modular design has mostly taken it's place -- where you instead create building blocks (some even interchangeable) and slowly, slowly build your system from small pieces. And, in fact, you don't even go to the next phase until the current phase works as expected. Given your header file and the post you deleted, clearly you prefer the monolithic path -- which ignores @George's KISS advice.

Look it -- @VEEFX -- we're not so different. You do have a lot more trading experience but when it comes to technology we both think alike. I don't mean to pick on you personally -- but I am using you as an example of how our minds are blinded by biases. Forex trading is a tough nut to crack -- it's made even tougher when we can't set our baggage aside even for a moment. I understand your investment in time requires you to continue down the same path -- to do otherwise would be too painful. You are a man of principle, you are passionate about your work, and you wear your heart on your shoulder. And in the big picture that counts 1000x more than this child's game we call 'forex'.

Some might wonder why all this BS talk between myself and @VEEFX. Well -- I think it is part of the "psychology". I'm indebted to @VEEFX -- even though his approach is not for me -- I can read between the lines and pick up some intangibles. And, most important, he has the balls to put his thoughts and ideas out there knowing he's going to get push back. And he never insults anyone -- he only subtly implies the rest of us are idiots That takes a real man...
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