Lets try to improve my profitable Grid Correction EA

29-31 jan.2018
EU lot 0.01, L.E. 1.4 tp 40 daily tg 10$
UJ and EG default settings and daily tp 10$ for every in part

Pipbeast: maybe in-light people on which acct type to use. eg: ECN/STP....................or what is your opinion?

Assuming you was using v1.7? Did the daily TP on single pair feature working now?

Thx, jdva

yes 1.7
daily tp work, but not allways it close just 10$ in most of case it close more than 10$ before EA stop to trading and close all orders..i think it is have a bug..

please sent for me file your set

Live Trading result. v1.7

Started on 29 January till 31 January
As you can see if you put a small "Daily" the drawdown is less.
DEMO - Default Settings
Daily 25USD

Daily 100 USD

Thank you Pipbeastfx , it is a superb EA I've ever seen..God bless you mate

so, if you will look on your statament with 100$ tg, and then on my statament above, yu will fiend the same results your 5879$ close and my 586$ close, wich are the same..but..drowdown is different, thats depend on spread and pairs who has been played in the same time. I prefer to week up at london market open, and turn on first EU. After that i look on UJ if there is no any trend from asia, i turn on it too.. EG is steel turned off, coz i have allready one pair with euro turned on..So after EU close daily target, i move on EG to turn it on if there is no any news or trend..UJ close his profit some days later or in the same time when EU close his profits.
The idea with lower daily tp, like 25$ on 0.1 lot its good, coz it will reach it very quiq. The problem is that EA have a bug,it not close exact the daily tp, it close more, its not stop when tp is reach, and in that day EA will not reopen any trade on that pair anymore, but if you change the magic number, it will open trades again for you.
So a new idea will be, to clarified with bug of daily tg hit. If target hit, EA must to have posibility to open a new set of trades in that day for hit another target of the day..I know that EA must to start to work after 1 hour if daily tp hit, but its not work good or some time at all, and for exemple i dont whant that EA open new set after 1 hour, meabe I need it to open new trades after 5 minutes after preveiws tg hit. So we need a RESET button. It will be good to have start,stop,reset button on the chart, without opening parametres of EA.
What is the rison of all this? very simple..
with low daily tp.. for exemple not 10$ on 0.01, but let say 3$ or 5$ daily tp, you can restart EA to play again for you. This mean you can stay all day on front of laptop and colecting money from the market from london open to close of it.. and then enjoy your live. In that way you kill minimum 2 rabbits.. First of all you manage by your self all what is hapen with your account and profist on the markets, you can stop for trading on news events, and 2 is that you earn a quiq 5 dolar without big drowdown and risk, and you can do it again and again and again.
Remeber, in forex is no a big volatility, forex its a very hard trading market, if it gives you 1 $, and you can take it from the market, then take it and be happy, dont stay in positions and wait your tp of 100 pips or 1k dol from one trade..forex its a scalp market, take what it give you now, and run.

Interesting piece of work this small algo...

So 3 days already in a DEMO, with Axi broker and this is how it looks so far...btw I'm using v1.7 didn't yet migrated to the new version:


This look steady for the moment (I've seen above some very very bumpy graphs)...like the way of the turtles, the famous trend followers.
These are my settings:


Now, I have to admit that I'm a little curios also about the technics behind, especially like the day of 30 Jan, where algo it did go along with the major trend of the day, and kept buying and buying and buying, rather than today 31 Jan where it switch from sell to buy and then probably something in the market changed and influenced the algo conditions and begun to perform an intristing "martingale"...selling into an up move. Luckly for me I didn't panic, I applied some market auction theory and notice that there were some failed moves, also some exhaustion there; in the end all align and the algo sold all the way down...
This evening, because I had some time I've analysed a little further...because looking on the graphs look like today the algo had to work much much more, opening positions in a very thin market, only 50pip range compare to yesterday where there was an aprox 150pip...



So:
- 29 Jan 61 positions with a total of 1.43 Lot traded (-5.5)
- 30 Jan 71 positions with a total of 1.1 Lot traded (largest drawdown = -48.3, this is the effect of trends over this algo...)
- 31 Jan 87 positions with a total of 1.28 Lot traded (drawdown = -33.3)
So why it did work harder today... much more open positions?!

At some point I was so so fortunate to get in a inner circle of some institutional guys, and I was really struck by the fact that also they use algo....algo that open hundreds and thousands of positions in the same market, or different markets, and then the insurance which come in the form of hedging in the same market or in diferent underlying or conex market...but they are never ever uni directional like week handed retail trader!
So definitely this algo isn't any holly grail! and should't be treated as one...because like someone once said to me: if any small edge u will find over the market, be sure somehow will be shut down!

Now another thing that keep bugging me is a comment from a fellow trader above, and that "out of equity!"; I'm saying this because I have a dormant account with 1500euro's in it on which I SWEAR to myself that I WOULD NOT TRADE UNTIL I'LL LEARN TO DO IT PROPERLY!!! and it's sleeping nicely from 2015...
I did start to think maybe if I like what I see I could open the algo on that account and let it do some mining a little (feel like crypto mining with this algo btw... the mining not the actual speculative trading!)
So coming back to the analysis of the results, a total of 1.4 lot for 1.5k account could be a little to much, I mean the algo required 1.1 - 1.4Lot to create a profit of 100 per day... isn't to much? maybe a lower daily target will keep the account in a safe zone.
Now my curiosity is:
- what is the fallacy of this algo? where it's going to crack in which conditions, for what stupid erroneous money management will definitely fail?
- I'm thinking even u keep the target low, less than 100 per day... how long it will survive? because I'm sure this is a re branding from the past of some other system.

I'll let it run for the week, I don't know probably I'll shout down over the infamous roller-coaster called NFP, although even that event it's know the outcome by institution from long time ago. I'll analyse the results more.
I'm looking for real insights from other traders here.

So so true, what u say there man!
An other idea that I get from those institution guys was exactly this...that daily trading is done in small portions, from one liquidity pool to another, and one of may favorite phrases...."he fell so content in the 10 -20 pip/tick move!", of course when in that 15pip move u've done 100Lot of business or half a yard (this is for the connoisseurs...).

well, you are right about some thinks, but not about daily target-))
to make 100$ per day , you need 5k in account and not 1.5k.. initial lot will be 0.1, after 1-2 hour tp will be hit.., then come tomorow again.

This is what I think also.. a much lower daily target... till I reach the 5k (few months of steady grow, if and only if it's possible to keep steady...).

Agree totally about maintaining discipline and not let greed get into our way.

I like this idea. We need a better way to share optimal configuration especially if pipbeastfx is going to introduce more options in future for his EA.

Reliable Brokers who got Tiny Spred or Small commissions are the Best Brokers for the EA Dear

Agreed
I started running the EA on my live account yesterday morning net profit around $ 600

Great Work abusaad412. Don't forget to share the summary and the settings you use. This will help others

Am sure i did some strange changes in the settings when i started the demo account 14 days ago and 10k became almost 22k loool with 10% DD

I will share the settings once the weekend come over

Want to see how it will handle NFP and other huge news
Demo status below :

Thanks for sharing the result Dear.. for the Non Farm Payroll strongly recommend to close live trading before news, when you doing some test on demo it;s ok to test. but in live trading close the EA before majour news