Our short position has now triggered the trailing stop using default PDV106 set. So this current short is going to end in profit - how much we dont know yet - but the TS is well below the entry price already. Unfortunately it will hit TS if retail sales print green later... temping to close early!
My "Ultron" EA for GBPUSD H1 timeframe
- #1,963
- Apr 18, 2019 3:34am Apr 18, 2019 3:34am
- Joined Jun 2012 | Status: Trader | 1,281 Posts
I never lose - either I win or I learn...
- #1,970
- Apr 18, 2019 11:34am Apr 18, 2019 11:34am
- Joined May 2017 | Status: Trader | 3,885 Posts
One thing I learnt these last cpl of weeks was to just leave the EA alone to do its job, and trust in the strategy.
Manually intervening with some of the orders has backfired and I incurred a bigger loss than I should have. By increasing the SL "hoping" that GU will turn up meant incurring a larger loss when the extended SL was hit early this morning while I was still sleeping. If I had left the original SL intact I would have taken a smaller loss.
Another thing that had me too involved was the lot size of the trade. My risk % was set too high so the order was carrying an unnecessary high risk. Yeah it would be a good thing if the trade would have hit TP, but not so good when it hits SL.
I've now lowered the risk %, so form now on smaller orders but a lot safer. It might take longer to make those nice high profits we had in the back tests but at least I won't feel nervous about any orders.
Just gotta remind myself that forex is a journey not a race.
Manually intervening with some of the orders has backfired and I incurred a bigger loss than I should have. By increasing the SL "hoping" that GU will turn up meant incurring a larger loss when the extended SL was hit early this morning while I was still sleeping. If I had left the original SL intact I would have taken a smaller loss.
Another thing that had me too involved was the lot size of the trade. My risk % was set too high so the order was carrying an unnecessary high risk. Yeah it would be a good thing if the trade would have hit TP, but not so good when it hits SL.
I've now lowered the risk %, so form now on smaller orders but a lot safer. It might take longer to make those nice high profits we had in the back tests but at least I won't feel nervous about any orders.
Just gotta remind myself that forex is a journey not a race.
Truth is like poetry. And most people f*cking hate poetry.
- #1,971
- Apr 18, 2019 12:16pm Apr 18, 2019 12:16pm
One thing I learnt these last cpl of weeks was to just leave the EA alone to do its job, and trust in the strategy. Manually intervening with some of the orders has backfired and I incurred a bigger loss than I should have. By increasing the SL "hoping" that GU will turn up meant incurring a larger loss when the extended SL was hit early this morning while I was still sleeping. If I had left the original SL intact I would have taken a smaller loss. Another thing that had me too involved was the lot size of the trade. My risk % was set too high so...
last line said it all
- #1,980
- Apr 19, 2019 4:50am Apr 19, 2019 4:50am
{quote} Depending on when people start and stop the EA and with what settings they are running - this explains the differing trades people have as only 1 open position prevents it front taking the next opportunity to trade... Getting to know how the EA works and where its opening orders - i think its a good thing for the most part. Like i said earlier tho - it would be nice to filter out strong support/resistance zones somehow - and only allow it to open positions once it has broken those price levels. So some logic which defines these recent levels...
The last 2 buys which ended in a loss opened at RSI 70 and above which indicates Ultron was buying at overbought level (no surprise there as those were major resistance zones). At such levels one should expect a reversal - at least in the short term even if the trend eventually continues upwards.
So we could say only Buy when RSI is 65 or lower (or 50 to 65) and only Sell when RSI is 35 or higher (or 50 to 35) after all other conditions have been met.
At least at 65 we know there's still a little room at the top so buyers can still push price higher so if they tend to be a reversal around the 70 RSI then the TS should protect the trade as such move from 65 to 70 should produce about 23 pips or more. However, if price moves over the 70 and a bit higher we just might get to as much as about 70pips. The Buy order of April 2, 2019 at 1.3098 illustrates that with price reaching about 80pips before the reversal, though that was even a key resistance level. Same logic applies to the 35 level for Sell trades. For sell instance see the Sell order of March 28, 2019 at 1.3151; also that was opened at a key support level.
Just my own brain'storming'
