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Safe (PowerSM Modified) EA

  • #41
  • May 21, 2010 11:10pm May 21, 2010 11:10pm
Quoting anjum073
I change according to your instruction. But still getting the same message invalid stops. I have account with the Easy-forex broker. Please help me.
Check your trailing stop values. Trailingstart and trailingstop should be "0". If that doesn't work then check your StopLoss value. That should read higher than what your broker allows as a minimum pip distance from price to set a stop. If it still doesn't work then I don't know what it could be. Play with the numbers. If nothing works then check with your broker.
  • #42
  • May 23, 2010 11:58pm May 23, 2010 11:58pm
Quoting bluemele
Ok, thanks. I had it much larger, like 80, 20, 60 but it still just lost.

I will try the new settings and see... I also limited the currencies..
Ok... Still no winning really. Lost 50% of account thus far (Demo) and I am feeling like a retard on this system!
We are our own best indicator.
  • #43
  • May 24, 2010 12:16am May 24, 2010 12:16am
Quoting bluemele
Ok... Still no winning really. Lost 50% of account thus far (Demo) and I am feeling like a retard on this system!
I know with time this ea increase profit, but I'm debating with myself whether it is worth the time for such small increase over long periods of time. It is definitely a set and forget type of ea.
  • #44
  • May 27, 2010 10:03am May 27, 2010 10:03am
Quoting 2+2=4ex
I know with time this ea increase profit, but I'm debating with myself whether it is worth the time for such small increase over long periods of time. It is definitely a set and forget type of ea.
Curious....

If you have a winning entry, isn't it supposed to start over the martingale and then continue in that direction?

If you have a sell @ 1.00 and it hits your TP, then it should continue w/ a sell at L1 level martingale right??

It seems to not work that way on mine.

This is my thinking. As I am now profitable somehow, but I thought it was because it was continuing on the trend.

If it does not do that type of functionality, then I suggest that would be a great way to do it.

I just noticed on a couple trades that it didn't do that, but I thought it was to continue on with the trend.

Please see attached set file. I started this 24 hours ago and I am up 8.5% on my account!


------EDIT: OK I FIGURED OUT THE ISSUE. IT DOES CONTINUE THE TREND, BUT ONLY ON 'LONGS', NOT ON SHORTS??? ANYONE KNOW HOW TO FIX THIS? I COULD TRY, BUT BOY I WOULD CREATE MORE BUGS THAN AN ANTEATER COULD EAT.
Attached File(s)
File Type: txt powersm.set.txt   < 1 KB | 374 downloads
We are our own best indicator.
  • #45
  • May 27, 2010 10:17am May 27, 2010 10:17am
2+2 = 4x

Do u start lots with 0.1 or 0.01 ? Because with 0.01 u can have a room for many levels.

Another question , do u think brokers can close a loss trade with a big lot to fack ur account?
  • #46
  • May 27, 2010 11:39am May 27, 2010 11:39am
Is this by chance the old Deliverence EA from one of the forums? I don't know which one now. It sounds like the same and did wonderful on a demo but on live it drained my acct quicker than I could blink.
Sure was fun to watch though.
  • #47
  • May 27, 2010 11:44am May 27, 2010 11:44am
Quoting sanyhuis
Is this by chance the old Deliverence EA from one of the forums? I don't know which one now. It sounds like the same and did wonderful on a demo but on live it drained my acct quicker than I could blink.
Sure was fun to watch though.
Because brokers stop hunted you , eh?
  • #48
  • May 27, 2010 12:32pm May 27, 2010 12:32pm
Quoting Brb-Fraudin
Because brokers stop hunted you , eh?
That would be interesting.

I was going to demo it on penny account if I can ever get my money transfer through!

Do this w/ an ECN/STP, then the hunting probably wouldn't happen. Also, if you coded in a 'hide' stops, then it would be better, but you would still have to mix this in w/ a few EA's...
We are our own best indicator.
  • #49
  • May 27, 2010 5:42pm May 27, 2010 5:42pm
Quoting bluemele
That would be interesting.

I was going to demo it on penny account if I can ever get my money transfer through!

Do this w/ an ECN/STP, then the hunting probably wouldn't happen. Also, if you coded in a 'hide' stops, then it would be better, but you would still have to mix this in w/ a few EA's...
Or you can distribute the money on several brokers and make small profits. That way they won't notice you.
  • #50
  • Edited 2:24am May 28, 2010 2:01am | Edited 2:24am
Quoting bluemele
------EDIT: OK I FIGURED OUT THE ISSUE. IT DOES CONTINUE THE TREND, BUT ONLY ON 'LONGS', NOT ON SHORTS??? ANYONE KNOW HOW TO FIX THIS? I COULD TRY, BUT BOY I WOULD CREATE MORE BUGS THAN AN ANTEATER COULD EAT.
In ea external properties you can set which direction you want the first trade of the sequence.

Quoting Brb-Fraudin
2+2 = 4x

Do u start lots with 0.1 or 0.01 ? Because with 0.01 u can have a room for many levels.

Another question , do u think brokers can close a loss trade with a big lot to fack ur account?
Well Brb for me it depends on when I set the ea. If it's right before big news, then I use .1 (start new cysle "false"). During slow times I will start with .01. If the news movement doesn't close out my trade then I close it out manually before loss gets too big for me. I trade mainly manual, especially my large positions. So this ea is a small background worker.

You're broker should never be able to close your trade without your consent (unless you get margin called). This is where the brokers integrity comes into play. If they were to do something like that then you have a case. In what court I don't know because forex is not regulated tightly, which is a shame. You could report it by filing a complaint with the appropriate regulatory body and also splatter your situation all over the internet. Hopefully someday brokers can be held accountable to protect the traders from some of their unethical practices. My advice is read the reviews and pick the most reputable broker you can afford.

Quoting sanyhuis
Is this by chance the old Deliverence EA from one of the forums? I don't know which one now. It sounds like the same and did wonderful on a demo but on live it drained my acct quicker than I could blink.
Sure was fun to watch though.
I don't know if it has any relation to that EA. I do know that it is popularly known on the internet as PowerSM created by Scott Merritt. I made mention of the ea's origin and credited Scott in my opening post. Demos usually have more lenient rules than live accounts. Of course this is done intentionally.

Quoting Brb-Fraudin
Because brokers stop hunted you , eh?
I'm not saying brokers can't hunt your stops, but this ea should eventually close out with a breakeven or profit as long as you have enough funds to withstand a deep progression. Whether a broker is trying to bust you or not, you should end okay. The broker can not range the market for days on end by manipulating price during session peaks (high liquidity). What they can do with stop hunting is delay the process. Time is also money. If they're a really dirty broker they may start doing disconnects or closing trades, but this is a bad broker and you should not be dealing with them to begin with. I would imagine a good broker will ask you to leave before they do something like that.

Quoting Brb-Fraudin
Or you can distribute the money on several brokers and make small profits. That way they won't notice you.
True.
  • #51
  • May 28, 2010 11:06am May 28, 2010 11:06am
Quoting Brb-Fraudin
2+2 = 4x

Do u start lots with 0.1 or 0.01 ? Because with 0.01 u can have a room for many levels.

Another question , do u think brokers can close a loss trade with a big lot to fack ur account?
I would do .001 account

Nano

And, Yes, Brokers are always 'just hitting' my entries or exits to 'fak me up'.

You can say that isn't true, maybe it isn't. But, I have to say, it sure is suspicious how it comes from nowhere (30 pips away) and hits it an then runs the other way!

I think what would be key w/ this EA is to hide the TP's and SL's. It can be done.

We are our own best indicator.
  • #52
  • May 28, 2010 11:39am May 28, 2010 11:39am
Quoting bluemele
I would do .001 account

Nano

And, Yes, Brokers are always 'just hitting' my entries or exits to 'fak me up'.

You can say that isn't true, maybe it isn't. But, I have to say, it sure is suspicious how it comes from nowhere (30 pips away) and hits it an then runs the other way!

I think what would be key w/ this EA is to hide the TP's and SL's. It can be done.

Yes it can be done. And its essential to succeed on the long run

Martingales can have as much as 100% win if you have big capital and start with tiny lots. But ECN or GCN they won't let you do it for too long before they notice , hey , this guy is stealing our money , he is not welcome.
  • #53
  • May 28, 2010 12:26pm May 28, 2010 12:26pm
Ok, Guys...

I believe this can be a reasonably profitable EA IF you can get to 10 levels! Can anyone say NANNNNNOOOOOO

Ok. So, my set file I attached previously is good.

Now, what happens is this:

Due to in the code firstlong=true, it takes a first long... That is fine.

However, everytime TP is hit, guess what.. It takes a long!

Now, that is perfect for when it is LONG! However, I had this thing very profitable due to it being long. Now, when it hits TP on shorts, it goes long and doesn't stay with the trend.

So Basically, I am hoping someone could code some logic into this thing that says this:

First entry on startup is either short/long, who cares...

Then, IF it hits TP, stay w/ the trend and continue long. IF it hits STOP, reverse!

If you have your MARTINGALE and Set file like mine and you can take 10 levels AND we make those changes to the code, I do not see how this could be a loser? UNLESS you need 11 levels of course! haha

We are our own best indicator.
  • #54
  • May 28, 2010 1:39pm May 28, 2010 1:39pm
With a Nano account level 10 would be 0.004 ! Am I right? Why would you want to stop it at 0.004 ? Level 14 would still be 0.01 !

Another idea is to to stop the EA at level 10 then you restart trading starting from level 11 at another time! Not from the begining , that way you have low chance to encounter a ranging market again.

And about staying in the same direction after hitting TP , you still have low chance to have another 80 pips run. And it wouldn't matter if you get stopped at level 1 because the 2nd order would be in the same direction of the trend.

Bluemele : Did you backtested it on 160 TP and 40 SL ?
  • #55
  • May 28, 2010 4:52pm May 28, 2010 4:52pm
Quoting Brb-Fraudin
With a Nano account level 10 would be 0.004 ! Am I right? Why would you want to stop it at 0.004 ? Level 14 would still be 0.01 !

Another idea is to to stop the EA at level 10...
No, didn't backtest really at all. I don't like backtesting as much as I don't think it to be accurate. Spreads change and where it puts you into the 'groove' makes all the difference. I have had my TP hit, but because of spread, missed.......

You can definitely try it on larger timeframe's, which is essentially what you are doing w/ larger SL's, TP's, etc...

I am shooting for smaller w/o commissions/spreads hitting you.

I also don't use the first LotsProgression as doing .01 several times, you will end up at breakeven and/or lose.

.01, .01, .01

Lose, Lose, WIN = you don't pay for your losses.. I HAVE MATCHING TP/SL AS TRYING LARGER TP'S THAN SL, I JUST ENDED UP LOSING EACH TIME.

.01, .01, .02 = break-even

I think you could turn this into a trend finder and I will attach my new mq4 file which stays in the direction of the trend. If the trend is long, then it will definitely hang on! It profited nicely the other night

There are some different strategies that I am thinking:

1. Keep it at BE for the first couple (i.e. .01, .01, .01, .04, .08, .16, etc..) and that will find the trends to continue. This would be smaller TP's/SL like 30 or less

2. Put it at (.01, .02, .04, .08, etc..) so you profit at each TP a little and not break-even. With my new MQ4 EA, I believe this plus small tp/sl, then the profits will come from longer trends.

3. Do long one's w/ time-outs like you are mentioning above. Worth a look at... That is an interesting idea....
Attached File(s)
File Type: mq4 PowerSM.mq4   10 KB | 688 downloads
We are our own best indicator.
  • #56
  • May 28, 2010 4:54pm May 28, 2010 4:54pm
I posted above a change from Sangmane to the EA. Basically the only thing that changes is this:

Previous version always went to long after TP hit. This version stays in direction of current win. So, if trending market, it will continue you in that trend.
We are our own best indicator.
  • #57
  • May 28, 2010 5:33pm May 28, 2010 5:33pm
Yes I noticed there are 4 consecutive 0.01.I don't know why. When you have a new set file for nano account please post it. I am very +ve that a NANO account can has a 100% chance with as low as $ 1K. Of course if the the TP and SL are hidden.

IMO the EA will be worthless when your broker starts to mess with the SL and TP , and believe they will after a long streak of wins.
  • #58
  • May 28, 2010 6:45pm May 28, 2010 6:45pm
Can anybody add a feature to this ea, NOT TO CLOSE THE ORDERS? I mean progresion will get going as usuall when it reaches the stop loss (well not really a stop loss anyore since we want it not to stop the order) Is it posibile anybody knows how to do it? So all the orders will be on hedging each other until the progresion is axhausted and than all open orders will be closed.
  • #59
  • May 28, 2010 6:47pm May 28, 2010 6:47pm
Don't go live with this ea, you will lose money, it was over tested, I happens 2-4 t imes a year, sometimes goes to 30-40 times deep in the progression...
  • #60
  • Edited May 29, 2010 12:18am May 28, 2010 6:52pm | Edited May 29, 2010 12:18am
Quoting Brb-Fraudin
Yes I noticed there are 4 consecutive 0.01.I don't know why. When you have a new set file for nano account please post it. I am very +ve that a NANO account can has a 100% chance with as low as $ 1K. Of course if the the TP and SL are hidden.

IMO the EA will be worthless when your broker starts to mess with the SL and TP , and believe they will after a long streak of wins.
One of the dilemmas with this ea in my opinion is the tp and sl levels. If you shorten the range you increase your odds of hitting tp and closing the sequence. However, you also run the risk of the progression running deep. In my opinion, I believe it is best to set your tp/sl range according to your account tolerance. Do the math (remember to also figure in margin). If your account can tolerate a progression to level 30 without getting margin called then I would go with that range size. Could it still get to 31 and blow up? Sure, but it's unlikely and would take some time. You should have enough time to hedge original trade with another trade where the tp is short of the original stop and the stop is beyond the original tp. At this point it's all about survival and trying to get that original trade closed. After that you can manually continue the progression on the hedged trade until you get that one closed also. This just buys a little more room, but may not ultimately bail you out. A short range can also make survival hedging confusing so I don't recommend too short of a range. Blue: level 10 is not that deep really. You may want to make it deeper, unless you're willing to just cut the loss at that point.

About hidden tp's and sl's... I don't recommend them with this ea. The one thing that can save you is having a tp and sl the broker can see. If you use a hidden stop you cannot call them and tell them you had a hidden stop in the event of platform disconnection. Forget about them hunting your stop. If they want to do that let them. They will have to hunt you 30+ times. In the meantime they are probably looking to fry other fish, especially if you are trading nano lots. So, let them hunt stops even if it means delaying the arrival of your profit. As long as you profit in the end - that's what counts.

Now you ask: why does the progression start with 5 consecutive .01 lot sizes? The reason is to extend the sequence as long as possible, thereby decreasing the chances of a blow up due to deep progression. Since you guys are worried that the broker are constantly hunting your stops, this should be something you want. Sure some of the steps in the sequence don't generate a profit (only recovers running loss), but it helps prevent a quick escalation in lot size which can result in a margin call. To be more specific, the first 4 trades in the sequence result in a profit. The 5th trade is a breakeven. So once you're beyond that, the idea is to get back to the top using as little risk as possible. If you pay commisson, I can see how you may want to tweak it to compensate for the commission. That's up to you to decide. The best way to use this ea in my opinion is with a good set up since the first trade is all profit/most profitable. If it doesn't hit, then the ea can manage it to an eventual profit.

Lastly, I would like to express what this ea ultimately accomplishes. Even though I did not create this ea nor conceive the stategy it uses, I have used it and studied it well. It is nothing more than a system. It does something you could do manually. The ea only manages the trade on a constant basis for you so you don't have to sit at the computer entering the trades or keeping track of the progression. The ea spits out the next trade as soon as the previous one ends. There may be better ways to apply the principles and disciplines this ea uses. Good luck.
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