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Joined Nov 2006
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Status: Setup - Trigger - Follow Through
|162 Posts
Hi everyone,
I'm wondering if anyone noticed a particular time frame this EA works better (profitable) in GU, EU, and UC. Do you see any drawbacks using M30 or H1?
Any favorite time frame and why?
Thanks in advance.
I'm a disciplined trader and that's the only way I trade.
I got into this short also. But I let Flyer decide when to close, and gained +20 pip profit... (well, I'm still on demo, it's easy not to do anything). Although If I would close it when I thought it'll be good idea to close it (at jut about 9685) I could have some 60 pip more... But still, sometimes I close manually, and see trend continues...
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Yeah I agree that the EA doesn't close the position fast enough. I had 80pips profit but the EA waited and it closed the position at 20 pips profit. But I guess that what you have to put up with when dealing with a trending EA.
Yeah I agree that the EA doesn't close the position fast enough. I had 80pips profit but the EA waited and it closed the position at 20 pips profit. But I guess that what you have to put up with when dealing with a trending EA.
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Flyer picked up a Sell for Eur @13309 but not for Gbp ...did this happen to anyone else? do I have my settings wrong? I appreciate the Feedback..
Joined Feb 2006
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Status: Pips Pod...
|1,611 Posts
Quoting GirlFlyer
Disliked
If you don't mind a 100 pip S/L on your Eur/usd, here are some settings that produced good results for the eur/usd on the EA backtested for the last year...
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Joined Nov 2006
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Status: Dragon Student
|486 Posts
Quoting dswk
Disliked
Great could you post the new Flyer! mql4 file with this setting? thanks.
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Adjustments noted should in this uploaded version. You can edit them by right clicking on your expert and clicking on modify. After you enter your editor you can scroll down to the place where the changes go.
Joined Feb 2006
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Status: Pips Pod...
|1,611 Posts
Quoting yezbick
Disliked
Adjustments noted should in this uploaded version. You can edit them by right clicking on your expert and clicking on modify. After you enter your editor you can scroll down to the place where the changes go.
I got into this short also. But I let Flyer decide when to close, and gained +20 pip profit... (well, I'm still on demo, it's easy not to do anything). Although If I would close it when I thought it'll be good idea to close it (at jut about 9685) I could have some 60 pip more... But still, sometimes I close manually, and see trend continues...
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As much as the EA has problems not closing soon enough for quick profits, I have found that often times it doesn't hold on to something long enough, as well. The challenge is finding a balance on the exit strategy. The EA does not trade that often... maybe once a day per pair if a good signal happens. In a really good, well behaved trend, it will follow it all the way to the end. If you have done some backtests yourself, GU is a good example where it can follow a trend for 2-300 pips before closing out. I've even seen it hit 700 pips before. Our human impatience and greed to lock in any gains we have can see the performance of the EA degrade over time if you continue to close early, because then the major trend can be (and most likely will be) missed and profits will be reduced. Thereby when the EA gets stopped out on a future trade(s), equity just isn't there... and eventually your account goes into the red.
I've tried hundreds of simulations on my computer with various exit strategies.... trailing stops... outright t/p levels, etc.... and they all generally fail because not enough profit is taken to outweigh the losses. Set your S/L too low, and you get stopped out all the time. Set your S/L too high and you lose too much versus your gains (but your accuracy goes up).
Every decision we do with the markets determines our profitability over time. I have begun to understand so much more about the F/X game and how everything interrelates since writing Flyer!. Making the right entry point is in my opinion less than half the decision. The more important decision is when to get out. Think of your money as doing business. Your business has to make so much money on each sale in order to cover the expenses of your product. In this case with forex, the profits you take (the sale of your product) each time have to exceed your expenses (your losses, cost of internet, electricty, etc...) over time or you eventually lose money. So, if you figure you have x% of accuracy rate to make at least (y) amount of pips then you have to make (z) amount (at least on the average) per transaction to cover your losses. Find that correct ratio, and you have a winning formula. Problem is, your formula is constantly changing because the market is changing. Which brings me to the point, that 2 or 3 months from now, we may have to change settings on Flyer! to accomodate a new market.
As time goes on, and I/we see ways to keep improving the EA, plus adapting to new market conditions, we can continue to have a profitable EA. I put this out here in the public because I feel that we all have a right to be able learn from other people. This forum has been a tremendous help for me, so therefore, I am returning the favor. I only ask that if you use the EA, help contribute to its earning potential by suggesting, offering, and implementing improvements. There will be a few people who probably abuse the situation and just want a free money making machine without working for it. If that's you, just remember the EA is what it is (an advisor). You won't be able to just let it go, and eventually make money for nothing!... you still have to work for it.
I was wonderng how does Flyer caluclate TP? Under the MT4 column for T/P is states 0.0000. Am I missing something?
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There is no fixed T/P level. It determines an exit point dynamically according to the market conditions. It generally tries to exit after so much profit level is reached and the short LWMA's reverse direction. Read the documentation and/or look at the code for further details.
The version 2 Flyer is very impressive. As I recalled, many of the positions could have had a larger gain if I had closed it manually, but I just allowed it to run based upon the EA settings which was using the defaults except for anything concerning lot size. If your statements are differ from mine, it may be due to at times the Internet may have been down....
Its always better to have less trades that is profitable than to be in the red. I would say based upon my testing with this and prior versions, version 2 and 1B, is to more profitable than version prior to 1B.
I am not sure if this is part of the EA. Is it possible to open multiple positions, eg., 2, and close one position as each target level is made. I know that it overly complicates the EA. If trade 1 hits a TP = 15, then trade 2 would adjust itself to B/E, just a thought.
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Have anyone tried using the EA on any other timeframes?
I'm wondering if anyone noticed a particular time frame this EA works better (profitable) in GU, EU, and UC. Do you see any drawbacks using M30 or H1?
Any favorite time frame and why?
Thanks in advance.
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Here is my experience withe different timeframes....
Backtesting has shown M30 to be optimal in the general sense because it will take a greater number of trades, thereby increasing overall profits. H1 can and does work and you can take larger profits at one time, but you have to find a totally different set of numbers to go in the data arrays. However, the drawback is that you may go several days in between trades because the trends become larger and longer. You also have to be willing to set your stop losses higher, etc. It's a tradeoff.... In the end run, my opinion the M30 setting is slightly better.
