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Attachments: The Ghillyoar System (buying highs and selling lows)
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The Ghillyoar System (buying highs and selling lows)

  • #41
  • Apr 13, 2021 4:59pm Apr 13, 2021 4:59pm
USDCHF
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  • #42
  • Apr 14, 2021 1:57am Apr 14, 2021 1:57am
All of the examples that I have shown including this one have the same settings. The ones that I have published. These settings are no where near optimal. But they suit my purpose here.

This example is for Gold.

It shows Exit Rule two taking us out of the market, because we are going nowhere.
Ghillyoar re -enters the market and remembers the original targets which are hit.
It then continues hitting some more targets.
I do not know the ATR for Gold or Brent Crude oil and nor does Ghillyoar.
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  • #43
  • Apr 14, 2021 2:36am Apr 14, 2021 2:36am
Having mentioned Brent Crude Oil (which I never do). I thought it might be interesting to see
if identical settings work on black gold.
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  • #44
  • Apr 14, 2021 3:12am Apr 14, 2021 3:12am
Okay, I have recoded my version of this EA to help you with some more developing and hopefully, improving it to make a most out of it!

So, I have done a test on EURUSD for past 6 years. Here are results:
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So, from my perspective it looks like I did it right! But, still need to check completely if it is okay.

What my 1st goal is going to be is to avoid these big falls in equity in any way possible without reducing the overall profitability.
2nd goal is going to be to find a scaling process that can automatically calculate the best lot sizes/profit targets to get the automated process of selecting it on any account with any equity(min dd, max gains). OF course, it wont be easy but this system has a lot of potential so why not try it out.

Thanks Paddy for this system, looking forward to developing it further
In God we trust. All others must bring data.
  • #45
  • Apr 14, 2021 6:39am Apr 14, 2021 6:39am
Quoting Paddy9
{quote} Thanks for your interest. I will try to explain. We have 2 systems of exit, Number One , Number one checks to see if we have successfully hit our target. If we have it says thanks very much we can now start afresh. New Buy Bench. New Sell Bench and a new profit target which is 50$ higher than our current equity. So in this case there is a re-calculation, Number Two Ghillyoar gets fed up if the number of sells is the same as the number of buys. So if we have the same number of buys as sells we exit all trades. However the system remembers...
Thanks. So when you say recalculate you actually mean the equity target levels, not the Buy/Sell- Bench levels, correct?
  • #46
  • Apr 14, 2021 9:27am Apr 14, 2021 9:27am
I will make this my last example. You don't need any more.
Its The German 30 ( whatever that is). This instrument is very unsuitable for us to trade because
even with a reduced lot size the contract size is huge. A 50$ target on this thing is a complete waste of time.

From memory the period covered is approx one year ending a few days ago.
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  • #47
  • Apr 14, 2021 11:51am Apr 14, 2021 11:51am
Hi, Paddy

I was just wondering why you decided against sharing your EA / source code - the idea of this thread was to find ways of improving your system so it would make sense for improvements to be made to a common-core EA rather than new EAs being developed which may not follow the strategy rules 100% and/or have unidentified bugs.
  • #48
  • Apr 14, 2021 12:45pm Apr 14, 2021 12:45pm
Quoting fxtrue
Hi, Paddy I was just wondering why you decided against sharing your EA / source code
Fully agreed. I think it has potential because it is against all odds... just like in real life. But if we are not even sure if we talk about points or pips (I would know if I had the source...)
Until then I will focus on "normal" grid traders. Just had the idea to use a normal EA and change buy<-->sell
  • #49
  • Edited 2:57pm Apr 14, 2021 1:23pm | Edited 2:57pm
Quoting fxtrue
Hi, Paddy I was just wondering why you decided against sharing your EA / source code - the idea of this thread was to find ways of improving your system so it would make sense for improvements to be made to a common-core EA rather than new EAs being developed which may not follow the strategy rules 100% and/or have unidentified bugs.
Thank you for your input, which is valued.
I am not able to publish my private E.A. and will not discuss the matter.

However I think that you make a very valid point.
I would like to make the following offer:

1. I have already given my readers a lot of my code.
2. I could make a post containing all of what I consider to be the remaining relevant coding snippets.
3. A single coder can then work with me to make sure that his version of my E.A. is the one that 100% reflects my original intentions. A half decent coder could only improve on the original. Any volunteers ?
4. He or she would need to undertake not to sell any aspect of my system now or in the future.
5. Anyone who downloads our E.A. would by doing so agree not to sell it.
6. The coder must agree that any changes that he makes to The Ghillyoar E.A. are authorised by me only.
7. Anyone uploading an unauthorised E.A.s would be banned.

I am making this offer so that as many people as possible can backtest the system and tweak the settings.
I am hoping that in the coming days people will suggest possible changes/ improvements to our system. That’s the only reason that I am here.
  • #50
  • Apr 15, 2021 1:27am Apr 15, 2021 1:27am
Fxtrue has kindly offered to code our new E.A.

I will be working with him behind the scenes and we will make the end result freely available.

On behalf of all of us I would like to thank him for his kind offer.

Paddy
  • #51
  • Apr 15, 2021 4:41am Apr 15, 2021 4:41am
Quoting Paddy9
Fxtrue has kindly offered to code our new E.A.
Good choice! If you need any help (coding or testing) just let me know. I am only too busy at the moment to focus on a new project. I have enough constructions ahead...
  • #52
  • Apr 16, 2021 3:38am Apr 16, 2021 3:38am
I have previously shown the following back test elsewhere...............I don't think anyone saw it ....

At the start of this thread I talked about long term back tests as being unreliable.
That didn't stop me immediately thereafter showing a 21 year back test.

No one laughed at me....... or pointed out the hypocrisy.
They looked at the graph and saw a fishing rod...........which is what they wanted to see.
They wanted to see a perfect system that was .....free ..........and here........a system that works.


Anyway........... here is The Ghillyoar System pretending to trade eurusd (using very iffy data ) for the period 2/6/1971 to 6/3/2021.
50 years .............half a century…………wow……..get out the fancy yacht brochures.

Apart from providing me with some mild amusement............I suppose it once and for all removes any possible question of “cherry picked charts”......
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  • #53
  • Apr 16, 2021 4:48am Apr 16, 2021 4:48am
Quoting Paddy9
What Does Exit Rule Number One make of losing tades? Exit Rule Number One ignores losing trades. If The Ghillyoar System has closed a series of losing trades and our equity is now 900$ rule number one is not going to close trades when the open equity is plus 50$. Rule Number One is going to wait until the Account Equity hits the original Account Equity Target of 1050$ Very Important If Rule Number One closes all of the open trades and the system is flat then the current “Buy Bench” and the “current Sell Bench” are abandoned and are re-calculated....
I dont understand that rule one ignores losing trades, and then we say the system has closed a serie of losing trades... could you help me with exit rules? Thanks!
Awesome work by the way
  • #54
  • Edited 11:35am Apr 16, 2021 5:16am | Edited 11:35am
I love fairy stories ........do you ?

Here is a completely hypothetical scenario………….you can trust me on that
.
Imagine a trader who thought it might be good fun to create a bang
average forex system and then turn it into a world beater by giving it away and
asking the people to improve it.

This imaginary…..naive…. trader decides to give it all away…to hold nothing back.

Gradually using the thinking of the many instead of the one…..there would be
incremental improvements.

Obviously, he would need to make the base system profitable.
He would need to demonstrate that it was profitable or people would be
critical instead of helpful.

He can see a problem though………………..what if the people thank him for “sharing”,
write down his trade rules ……..and move on without giving any thought or help to developing the project.

Obviously if no one is going to help him………….he is the one that should be moving on………..and on his own.

But how does he know if the readers are actually looking closely at the basic system with a critical eye ?
How does he know if they are trying……………..

He comes up with an idea!
What if he includes in the rules a totally stupid and pointless feature.
An unnecessary feature.
A feature that would systematically and regularly reduce the profits.

He smiles to himself…………the first ever system on Forex factory that intentionally
places losing trades……………….and still wins

So he would be giving everyone an easy improvement to make.

I bet you are thinking it’s hard enough for him to create a system that wins….
It’s virtually impossible to make a winning system THAT DELIBERATELY places losing trades.

In this imaginary story it turns out that it was quite easy really.

…………………..and they all lived happily ever after
  • #55
  • Apr 16, 2021 9:21am Apr 16, 2021 9:21am
Quoting Beren
{quote} I dont understand that rule one ignores losing trades, and then we say the system has closed a serie of losing trades... could you help me with exit rules? Thanks! Awesome work by the way

Many thanks for your interest in the system.

I have looked at it again, and I honestly cannot explain the exits any better than I have already.

If someone else would like to explain it to you...........I would very grateful to them.

Some of our readers have already written their own code so I am assuming that they have the exits down to a "T"

They will probably explain things more clearly than me.

Thanks for the compliment.
  • #56
  • Edited 2:52pm Apr 16, 2021 12:54pm | Edited 2:52pm
Quoting Mr.Sexobeat
Okay, I have recoded my version of this EA to help you with some more developing


Congratulations as far as I am aware you are the first person to code his own Ghillyoar E.A.
And it looks like it makes a profit……… well done ! Its starting to look as if I am not sitting here photo shopping back tests !

From my standpoint the most interesting aspect of your post is what you plan to do next.

You are ignoring the entry mechanism and are going straight to the heart of the matter the exit mechanism. I could not possibly agree more.

The current exit mechanisms for The Ghillyoar System came out of my own very limited brain.

I am constantly looking to find new and better exit strategies.

I invite you to join me using the following methodology:

1. Sift through every system that you can find on Forex Factory. Make the assumption that the system does not work ……and look only at their exit strategy. If the exit looks half decent try it …..first of all instead of my exits …….and then alongside my exits.
2. Search the internet for free forex systems…….do not worry….they do not work……you do not care ………. look ONLY at the exits……….try them instead of my exits and then alongside my exits.
3. Search the internet for best forex exits.
4.Go to Youtube……….please do not……get hooked into parting with a single penny of your hard earned. If they could make money trading ( they can’t) they would be making money trading not teaching. I am reminded of the aphorism “Those who can do….. those who cannot teach” Look only at their exit strategy.
5. Dig out all of those waste of money forex courses that you bought. Look only at the exits.


And lastly join me in asking people who visit this thread to give us a list ........or a single exit strategy that they have come across.

We do not care if it is rubbish or not ………….you are not endorsing it ........you are making it available for testing.

I do not know how many unique visitors that we get..............but if everyone of them gave us just one exit strategy....wow !
  • #57
  • Apr 16, 2021 3:36pm Apr 16, 2021 3:36pm
Quoting Paddy9
{quote} Congratulations as far as I am aware you are the first person to code his own Ghillyoar E.A. And it looks like it makes a profit……… well done ! Its starting to look as if I am not sitting here photo shopping back tests ! From my standpoint the most interesting aspect of your post is what you plan to do next. You are ignoring the entry mechanism and are going straight to the heart of the matter the exit mechanism. I could not possibly agree more. The current exit mechanisms for The Ghillyoar System came out of my own very limited brain. I...
Here's an exit strategy that works with some systems (haven't delved deeply into yours, so might not be applicable here, or you may have tried it, but for what it's worth): Exit when you get an opposing signal. If your trade is short, exit when you get a long signal.
Student of the Markets
  • #58
  • Apr 16, 2021 4:37pm Apr 16, 2021 4:37pm
So even if I dont know if you are trolling or not anymore, I actually have something that is not bad and has potential. And if you think id use a possibility of blowing account with that exit strategy, you're far off. I didn't build my portfolio by using destructive strategies, but I did by taking ideas from those. Anyways, good work.
In God we trust. All others must bring data.
  • #59
  • Apr 16, 2021 5:07pm Apr 16, 2021 5:07pm
Hi dchristi

Many thanks for the exit strategy that you have put forward for consideration.

To some people it may sound too simple. I firmly disagree.

I have a feeling that the exit rule that I am looking for is going to be so common that we ignore it, as not sophisticated
enough or............ it is so "way out" that we have never heard of it.

I have tried this on its own. I rejected it, because it was too slow in getting me out.

But now that you mention it ..............I want to try it as exit 3.

We already have Exit Rule One and Exit Rule Two and we know that using them we seem to do well.

If we trial your idea as exit three and the profit and or draw down are improved its a no brainer its in......and I will give you full credit here on the thread.

I do not need a fast exit.....I get them from rules one and two..........I am looking for a slower exit which does not get in the way of the first two rules ..........but protects me from the larger draw downs.

Many thanks for entering into the spirit of this project........I only hope that you inspire some others to do the same.

Paddy
  • #60
  • Apr 16, 2021 6:06pm Apr 16, 2021 6:06pm
Quoting Mr.Sexobeat
So even if I dont know if you are trolling or not anymore, I actually have something that is not bad and has potential. And if you think id use a possibility of blowing account with that exit strategy, you're far off. I didn't build my portfolio by using destructive strategies, but I did by taking ideas from those. Anyways, good work.
Hi Mr.Sexobeat

Have I inadvertently offended you ? If I have it was certainly not my intention.

In my previous post replying to you I thought I was congratulating you on your progress with the coding of my system.

I was also pleased to note that you agreed with me on the importance of exit strategies ( these being more important than entry strategies in my view ).

I then went on to tell you the sources that I study when I am looking for exit strategies.

You mention the possibility of me" trolling".

I am not a social media expert but I understand that "trolling"means picking on someone using the internet and being horrible to them.

If you can prove to my satisfaction that I have isolated and have been horrible to any individual . I will be mortified and this thread will be over instantly.

I will not be taking any further part in this thread until this matter is resolved.
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