p00zik_EA, the test

Hello
I have cool EA that I did and I started to backtest it on demo account.
The EA trade only EUR\USD between 05:00 - 10:00 gmt.

In my past I dealed alot with php\mysql and lots of open-source scripts, so I will not try to sell this EA if it will work. Meantime im NOT publishing the code, but I promise that as soon as I see that the EA work, I will publish it. I dont want people to be disappointed, so ill try this EA at least a month.

So far the EA worked only 1 week on ibfx demo, if I close a month of trading with postivie results, ill put it live on my mini account and after a few mounths on mini, ill start with 2500 live (high hopes)

here is the results for the first week(started with 2500 and I missed 1 day because connection problems), not so good..
http://megapuzik.googlepages.com/Statement.htm
strated:2500$
account balance for the end of the first week:2710$
(i will update every day of trading since now)

oh, and sorry for my english, its not my native

cheers

Hi, first off congrats on your EA, seems to be working good, but one thing i noticed in the statement that one of your major losses was due to the fact that you didnt have a stop loss, so if you can incorporate that in the EA some how it might be very profitable! I wish you the best of luck and thank you for your willingness in sharing your EA

thanks
I was trying to work on SL but every SL in the becktest just give bad results.
I just close open trades by time, no SL.

very bad day for the EA, -50 pips in 1 day.
lets see what happen tomorrow
http://img82.imageshack.us/img82/8475/1dn5.th.jpg

Ok I'm going to add in my 2 pips here. Take them as you wish. First, your R:R is out of control. TP at 6 pips with unlimited loss potential (which is what going without a SL is saying)? That is crazy. I don't understand how a SL can "give bad results"? My system also has a bad R:R but it makes up for that in Winning percentage (or has done so in the past). My theory is that it should be relatively easy to get that 6 or 10 pips. Therefore, you should have a relatively tight stop because you shouldn't have to go down 45 pips to gain 6. If that is the case you need to modify your entries.

Also, your risk level is out of control. Trading one lot with $2500 and no stop loss is insane. 1% or 2% risk is acceptable for most systems. You should also run some backtests of your system. I'd like to see them.

And don't forget, a system is not just entries. A system consists of entries, exits, money management, risk management, stop losses, take profits, trailing stops...etc. A lot goes into developing a system, and I think this has a way to go, but you can get there.

Thanks,
andersenws

Hello, its a "rough" system idea, no SL, open trades close at 10:00.
if i put SL, i will get whipsaws.
I tried to backtest with 90% quality, but in my alpari based data MT, the backtest only open long position(and i double checked all the settings).
I have backtest with only 50% quality. i dont think thats accurate at all so I run in on a demo to see real results.
http://megapuzik.googlepages.com/StrategyTester.htm

cheers

Like I said before though, I don't understand how you can get a 50 or 60 pip whipsaw (which is probably where you should put your SL).

And I quote from my last post,
Best of luck with your system, I'm just trying to help.

andersenws

I change the code today, it should be more profitable.
here is the results for today:
http://img130.imageshack.us/img130/2647/12wd9.th.jpg
total count from start : -5 pips

Hello. I see my 2 pips are needed here too. I am with Andersen.

I am also using an EA that only goes for 8 pips profit. I use a 15 pip s/l and have 75-80% wins.

When your calculating a 6-10 pip move in the market and the price moves more than 2X that against you, then you are wishing, crossing your fingers, flipping a coin, praying that the price comes back. (Fatel flaw of most failed traders is holding a losing position too long.) If the target is 10 and the price goes more than 20 against you then the trade is bad and it needs to be pulled immediatly. 11-15 pips is the minimum s/l needed on euro$. If the trade is on a 1 hr chart and the target isn't hit in 1-2 candles it probly won't get hit(unless its just luck) A 10 pip move should be hit in 1 one hr candle if the entry is good. 2nd one hr candle if the entry came near the end of the first candle.

Get what I am saying?...

Sounds like the entry logic, method, what ever needs rethought, because your only going for 6 pips. I know that your target is 6 because your trying to increase the odds of it getting hit.

Since your incorperating time into it try to apply this....The last 15 min. of a candle is when it establishes its self. have you ever seen the hour change and the market suddenly go against the trend, you get out of a position and suddenly at the end of the hr or close to it the candle extends in the direction of the trend? Or visa-versa? Calculating entry near beginning and end of the hr can help get you that 6-10 pips you want. I do this in scalping all the time.

put an 8 ema on the chart and wach a 1 hr candle open. It will draw back against the trend, touch the 8ema (or 5 ema in a stronger trend) and then the last half hour move in the trends direction. If you can get it to recognise that and when the price touches the low ma and passes the open of the candle in the trends direction enter in the trends direction with s/l other side of the low ma(5 or 8 depending on trend streingth) Then if the next candle draws back to touch the ma befor going to target s/l won't get hit.(unless trend changes or pauses for correction)

Hope this can help

dave

Very interesting post David.

Glad to see you put a Stop Loss on your system, pooshkin.

Keep working at it,
andersenws

Thank you for the comment.
From now on, ill also test another version with a SL. From some backtests, the most conservative SL that i found is 20. Ill also try to put 8 ema and play with it a bit in the weekned when ill have some time.
thanks :-)

slow day, but safe
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