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Attachments: Monday/Tuesday Breakout EA
Exit Attachments

Monday/Tuesday Breakout EA

Quoting timidave
{quote} 50% profit target attained on live trades is amazing.
Small account, so I wasn't that bothered, but just seeing if I can use MoTuBo and EG to recoup the losses I made using another EA.

Currently got the risk set at 5% per trade, but each time the smallest lot size appears as 0.02, I will lower the risk% by 1% and the profit target by 10% (so, 4% and 40%, etc.), until the risk% reaches 1%...if the account gets there!
"Pips are vanity. Profit is sanity."
Quoting PaulDV
{quote} No, I always use a SL. I set TP to 3 x SL.
Is this take profit target easily achievable?
  • Post #263
  • Quote
  • Edited Jun 18, 2020 10:30am Jun 17, 2020 4:25pm | Edited Jun 18, 2020 10:30am
Quoting timidave
{quote} Is this take profit target easily achievable?
Not sure, but let's do the maths:

Max of 11 trades.
Risking 1% per trade, that's a max loss of 11% if it all goes wrong.
Using R:R of 1:2, that's a max win of 22%.

We know that a gain of between 5% and 10% is achievable, especially using Equity Guardian. This equates to roughly 25%-50% of the maximum (so, we're not being too greedy!).

Scale up the risk to 5% per trade:
Max loss of 55% if it all goes wrong (bugger!).
Max win of 110%.
Making a gain of between 27.5%-55% not inconceivable.

I increased the R:R to 1:3 (taking the max possible win up to 165%) and let Equity Guardian do its thing, being sure to give the trailing profit a large headroom to work (trail by 20%) and trust to the market.

Breakdown of the trades for this week:

9 trades total.

2 full losses (-10%)

1 full win (+15%)

6 floating profit at close:

+12.5%

+1.25%

+7.5%

+10

+11.25%

+2.5%


What are your thoughts?
"Pips are vanity. Profit is sanity."
Quoting PaulDV
{quote} Not sure, but let's do the maths: Max of 11 trades. Risking 1% per trade, that's a max loss of 11% if it all goes wrong. Using R:R of 1:2, that's a max win of 22%. We know that a gain of between 5% and 10% is achievable, especially using Equity Guardian. This equates to roughly 25%-50% of the maximum (so, we're not being too greedy!). Scale up the risk to 5% per trade: Max loss of 55% if it all goes wrong (bugger!). Max win of 110%. Making a gain of between 27.5%-55% not inconceivable. I increased the R:R to 1:3 (taking the max possible...
Sounds interesting, looks promising. It's now a matter of sustaining a good results on the long term.
Quoting PaulDV
{quote} These are my settings. Any you can't see are at the defaults. {image}
Have you maintained the stop loss ratio of 50% or you have changed it?
Quoting ursinho4711
Hi! I adapted the "brother" of this system (see https://www.forexfactory.com/showthread.php?t=976730) into a multipair EA. Meaning, I don't need to open a chart for each pair to trade. And it works (ICMarkets-Demo)... If anyone is interested to pimp this system here into a multipair, please contact me. I have some experience now how to do program it quite quickly... This weeks closed trades with the "brother" EA: {image} Running trades now (11:45 GMT) {image}
Please change the thread - Commercial Content Forum.
Please excuse the bad English via Google Translate.
Quoting dokopy
{quote} Please change the thread - Commercial Content Forum.
Did I write something about commercial?
This https://www.forexfactory.com/showthread.php?t=976730 EA is open code:
Attached File(s)
File Type: mq4 MoTu_Modifyed_variableBox_adjust_GMT_V_1.1.mq4   25 KB | 456 downloads
Quoting ursinho4711
{quote} Did I write something about commercial? This https://www.forexfactory.com/showthread.php?t=976730 EA is open code: {file}
"into a multipair EA. Meaning, I don't need to open a chart for each pair to trade. And it works (ICMarkets-Demo)... If anyone is interested to pimp this system here into a multipair, please contact me. I have some experience now how to do program it quite quickly... This weeks closed trades with the "brother" EA: {image} Running trades now (11:45 GMT)"
Please excuse the bad English via Google Translate.
Quoting timidave
{quote} Have you maintained the stop loss ratio of 50% or you have changed it?
Still the same.
"Pips are vanity. Profit is sanity."
Quoting ursinho4711
Hi! I adapted the "brother" of this system (see https://www.forexfactory.com/showthread.php?t=976730) into a multipair EA. Meaning, I don't need to open a chart for each pair to trade. And it works (ICMarkets-Demo)... If anyone is interested to pimp this system here into a multipair, please contact me. I have some experience now how to do program it quite quickly... This weeks closed trades with the "brother" EA: {image} Running trades now (11:45 GMT) {image}
Are you offering to change my EA to run on multiple pairs? To other people?
"Pips are vanity. Profit is sanity."
Quoting PaulDV
{quote} Are you offering to change my EA to run on multiple pairs? To other people?
Hi! I do not understand the confusion. I was asking YOU (or whoever is the "owner" of the EA) whether you would be interested in trying this in a multipair. How can I offer something that I do not have? From my experience with the "brother" from the other thread, that uses a similar attempt, I thought it might be worth a try.
Just one chart instead of 28 (or whatever).
If you are not interested, no problem.
I really do not understand why user dokopy jumped on my post. I have nothing to do with him/her/diverse.
hey ursinho

i think dokopy interpreted what you posted as you offering your services to convert EA's to multipair for a fee. You didn't mention anything about money, but he obviously inferred that (incorrectly in my opinion)

thanks for sharing the multipair version btw - do you usually run it on all 28 pairs?

blam


Quoting ursinho4711
{quote} Hi! I do not understand the confusion. I was asking YOU (or whoever is the "owner" of the EA) whether you would be interested in trying this in a multipair. How can I offer something that I do not have? From my experience with the "brother" from the other thread, that uses a similar attempt, I thought it might be worth a try. Just one chart instead of 28 (or whatever). If you are not interested, no problem. I really do not understand why user dokopy jumped on my post. I have nothing to do with him/her/diverse.
Quoting ursinho4711
{quote} Hi! I do not understand the confusion. I was asking YOU (or whoever is the "owner" of the EA) whether you would be interested in trying this in a multipair. How can I offer something that I do not have? From my experience with the "brother" from the other thread, that uses a similar attempt, I thought it might be worth a try. Just one chart instead of 28 (or whatever). If you are not interested, no problem. I really do not understand why user dokopy jumped on my post. I have nothing to do with him/her/diverse.
As blamshak said, it's all due to how your post could be interpreted - it did sound to me like you were offering to amend this EA, which seemed a bit cheeky. But never mind.

Have I considered updating it to run on just one chart? Yes, I have. But I won't be doing it. The EA you linked to uses pending orders, this EA doesn't - it monitors the price levels and opens market orders only when necessary. So, while I could amend the EA to monitor multiple pairs, it would be very processor-intensive and will either slow your machine down significantly, or will miss entering/exiting trades correctly, which is why I won't be doing it.

Besides, it doesn't take much effort to open a chart and drag an EA onto it, and it also gives you the ability to run different settings for each pair.
"Pips are vanity. Profit is sanity."
Quoting ursinho4711
{quote} Hi! I do not understand the confusion. I was asking YOU (or whoever is the "owner" of the EA) whether you would be interested in trying this in a multipair. How can I offer something that I do not have? From my experience with the "brother" from the other thread, that uses a similar attempt, I thought it might be worth a try. Just one chart instead of 28 (or whatever). If you are not interested, no problem. I really do not understand why user dokopy jumped on my post. I have nothing to do with him/her/diverse.
Every idea is welcome. This was formulated quite unhappily.
Please excuse the bad English via Google Translate.
PaulDV,

thanks for your EA and this concise, clean, thorough and focused thread.

Kind regards
I could see the markets brought good profits to this strategy this week, but unfortunately the Equity Guardian EA exited me too early.
yes last week was a great week for the EA on currencies, I exited a lot later than usual (Friday)

One tip I would highly recommend is to open another demo and try this EA on indices, for the month or so I have tried that (after a suggestion by Toppi) it has absolutely rocked

blam


Quoting timidave
I could see the markets brought good profits to this strategy this week, but unfortunately the Equity Guardian EA exited me too early.
Thanks for your ea! I will test this we and share result

Everybody trying to use news filter?

Attached Image
Quoting blamshakk
yes last week was a great week for the EA on currencies, I exited a lot later than usual (Friday) One tip I would highly recommend is to open another demo and try this EA on indices, for the month or so I have tried that (after a suggestion by Toppi) it has absolutely rocked blam {quote}
Any changes to be applied?

Thanks
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