TPO,
I'm just leaving the EA at default settings, except for the money management changes. I initally tried 3, and then sell 2 at first chance, and noticed that it was possible to make money in the 2006 calendar year with this EA.
After playing with it, I'm comfortable with the 4:3 ratio. When we get to higher lots, it's probably easier to tweak the ratio and be more accurate, but this method offsets the 'wiggle room' needed enough, in case we get a loss instead of a long run, on the running profit.
Regarding the ATR take profit levels, if we had it in the EA, we could probably more easily find the 'sweet spot' for it. I can do some things with MQL4, but I don't understand a lot of the things that are going on, even though it's supposedly a simple programming language.
Do you know how to program with it?
Another thought I had... I wish we could build some logic into the EA, that would trade a certain percentage of the account per trade, instead of fixed lots. So, we could enter 1% or 2%, of our account per trade. That way it's really more automated, and will give a nice compounding affect.
I don't know if you've seen this site: http://www.pippintothetop.com/Fozzy%...TA/report.html (sortable tables, btw) but the trader there is trading real money with Fozzy, and posting his trades in psuedo-real time. He started with a fixed amount, and is only trading fixed lots. If he would have compounded the trades, it would be much larger.
I'm glad to see the open source spirit of the MQL programmers out here, because it allows us to share our ideas... I heard someone say something, one time... "You can't do greatness by yourself, it requires many people" or something like that. Nice to have people sharing their ideas here.
I'd love to join in on the Skype chat, so please send me an email or pm if you don't post the info here.
-Dan
I'm just leaving the EA at default settings, except for the money management changes. I initally tried 3, and then sell 2 at first chance, and noticed that it was possible to make money in the 2006 calendar year with this EA.
After playing with it, I'm comfortable with the 4:3 ratio. When we get to higher lots, it's probably easier to tweak the ratio and be more accurate, but this method offsets the 'wiggle room' needed enough, in case we get a loss instead of a long run, on the running profit.
Regarding the ATR take profit levels, if we had it in the EA, we could probably more easily find the 'sweet spot' for it. I can do some things with MQL4, but I don't understand a lot of the things that are going on, even though it's supposedly a simple programming language.
Do you know how to program with it?
Another thought I had... I wish we could build some logic into the EA, that would trade a certain percentage of the account per trade, instead of fixed lots. So, we could enter 1% or 2%, of our account per trade. That way it's really more automated, and will give a nice compounding affect.
I don't know if you've seen this site: http://www.pippintothetop.com/Fozzy%...TA/report.html (sortable tables, btw) but the trader there is trading real money with Fozzy, and posting his trades in psuedo-real time. He started with a fixed amount, and is only trading fixed lots. If he would have compounded the trades, it would be much larger.
I'm glad to see the open source spirit of the MQL programmers out here, because it allows us to share our ideas... I heard someone say something, one time... "You can't do greatness by yourself, it requires many people" or something like that. Nice to have people sharing their ideas here.
I'd love to join in on the Skype chat, so please send me an email or pm if you don't post the info here.
-Dan
Dan - very interesting first post, sooo much nicer than the usual 'what is fozzy?' type post!
I've been testing using the ATR for take profit levels too - at 0.7, 1.0 and 1.3 of ATR(20), but recently have noticed that a first TP level of greater than 50-55 is too high and the trade could reach ~45 pips only to reverse and become a loss.
Coolshades is using a 0.5 ATR as a first TP.
Your use of 4 lots and taking 3 off at the first TP is something I was thinking of earlier - how are you letting the last lot run? Any target or trailing method in particular?
Join us on the skype chat, this is what we babble about all day it seems
-TPO.
Poverty: the only thing money can't buy.
