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Monday/Tuesday Breakout EA

  • #261
  • Jun 17, 2020 11:39am Jun 17, 2020 11:39am
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."
  • #262
  • Jun 17, 2020 12:59pm Jun 17, 2020 12:59pm
Quoting PaulDV
{quote} No, I always use a SL. I set TP to 3 x SL.
Is this take profit target easily achievable?
  • #263
  • Edited Jun 18, 2020 9:30am Jun 17, 2020 3:25pm | Edited Jun 18, 2020 9:30am
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."
  • #264
  • Jun 19, 2020 3:47am Jun 19, 2020 3:47am
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.
  • #265
  • Jun 19, 2020 3:51am Jun 19, 2020 3:51am
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?
  • #267
  • Jun 19, 2020 6:56am Jun 19, 2020 6:56am
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.
  • #268
  • Jun 19, 2020 7:08am Jun 19, 2020 7:08am
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 | 610 downloads
  • #269
  • Jun 19, 2020 4:33pm Jun 19, 2020 4:33pm
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.
  • #270
  • Jun 19, 2020 6:49pm Jun 19, 2020 6:49pm
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."
  • #271
  • Jun 19, 2020 6:56pm Jun 19, 2020 6:56pm
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."
  • #272
  • Jun 20, 2020 4:29am Jun 20, 2020 4:29am
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.
  • #273
  • Jun 20, 2020 6:52am Jun 20, 2020 6:52am
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.
  • #274
  • Jun 20, 2020 7:32am Jun 20, 2020 7:32am
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."
  • #275
  • Jun 20, 2020 8:13am Jun 20, 2020 8:13am
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.
  • #276
  • Jun 22, 2020 10:01am Jun 22, 2020 10:01am
PaulDV,

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

Kind regards
  • #277
  • Jun 24, 2020 4:00am Jun 24, 2020 4:00am
I could see the markets brought good profits to this strategy this week, but unfortunately the Equity Guardian EA exited me too early.
  • #278
  • Jun 24, 2020 4:24am Jun 24, 2020 4:24am
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.
  • #279
  • Jun 24, 2020 6:56am Jun 24, 2020 6:56am
Thanks for your ea! I will test this we and share result

Everybody trying to use news filter?

Attached Image
  • #280
  • Jun 24, 2020 8:58am Jun 24, 2020 8:58am
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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