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Quest 100 System

  • #201
  • Feb 27, 2008 3:54am Feb 27, 2008 3:54am
Thanks nealc99. I thought that price has to first go throught the river line and the 13 Ma before it will open a trade.
In a trade like this an automatic traling stop is part of the EA, is that correct?
  • #202
  • Feb 27, 2008 3:58am Feb 27, 2008 3:58am
Quoting nealc99
I am pleased to see the different posts of the EA v1.01 doing so well for you. Even though I'm not happy with v1.01, I'm glad to see the market is being kind.

Well it is certainly doing well for now (few days)
why are you unhappy with v1.01?
  • #203
  • Feb 27, 2008 4:06am Feb 27, 2008 4:06am
Quoting Ahil
Well it is certainly doing well for now (few days)
why are you unhappy with v1.01?
LOL - I just think that is the attitude of most EA coders. We want to get something out there so other people can use/test, so we release a version before we are satisfied.

Probabbly on version 9.99 I still won't be happy - LOL
  • #204
  • Edited 6:06am Feb 27, 2008 4:44am | Edited 6:06am
Quoting gioviforex
dasn't make any difference if you use mini account , gain is gain with mini or with regular.........
Of course but 50 pips loss on a 5K account with a full lot is 500$ => 10% of the account in one shot.

If you have 3-4 consecutive loosing position (that can happen as we all know) that would round 40% of the account lost. That is just too much of a drawdown to suffer.

Edit : now it's -38$ but +340$ in floating gain
  • #205
  • Feb 27, 2008 4:51am Feb 27, 2008 4:51am
Quoting nealc99
LOL - I just think that is the attitude of most EA coders. We want to get something out there so other people can use/test, so we release a version before we are satisfied.

Probabbly on version 9.99 I still won't be happy - LOL
I completely understand you there is always something to improve
  • #206
  • Feb 27, 2008 4:53am Feb 27, 2008 4:53am
I'll probabbly turn MoneyManagement on at about Risk=5 (5%) and let it manage the lot size.

At least it will take the "human" factor out of the equasion of wanting to do 1 full lot so they can make more.

The MoneyManagement feature works really well, especially once you build up your balance some because it places increasing larger lot size as your balance & risk factor can support (and of course scales back down if you suffer losses).
  • #207
  • Feb 27, 2008 5:06am Feb 27, 2008 5:06am
Hi,

This is to commend you on this project again.

The beautiful thing I love (and just noticed) about this EA is the fact that it allows the profit to really run.

A USDJPY trade was opened on my demo @ 107.75 yesterday and it was managing it. At a time, I saw a profit target and the SL was also moved. By the time I work up this morning (am in d GMT time zone), I noticed that the TP has been removed and the SL moved to a good level (106.71) locking in profit.

This is a great work and I am sure the live version will be a lot better. But talking seriously, I can do with this for a ride.

Pls note, I am using it only on USDJPY as per ur first post. Keep up the good work and thank you.
  • #208
  • Feb 27, 2008 5:09am Feb 27, 2008 5:09am
Oh, and by the way.... the EA doesn't RULE YOUR WORLD, they are your assistant to help you manage your account when your not around.

For example: My goal is 100 pips/day. Right now the EA has 4 trades going (4 majors) and am up about 80 pips. There's nothing wrong with once I get to 100 pips, I TURN OFF THE EXPERTS (so it won't reopen trades) then close my 4 trades manually and achieve my daily goal.

Now knowing me, about a 1/2 an hour before USA session, I'd probably turn the experts back on and let it trade the USA session.

NEVER be afraid to take profit, just make sure you TURN THE EXPERT OFF so you don't risk it instantly reopening a position, and due to the timing it turning into a loss.
  • #209
  • Edited 6:56am Feb 27, 2008 6:28am | Edited 6:56am
Now. Time for some fun......

CAUTION: Insane person at work!

Call me crazy and tip over my rocking chair, but did you know that EMA/SMA's have "Oras".

For those whom might not know, an ora is like an invisible energy barrier that surrounds your body. Some psychic's sense it, others have claimed to photograph it.

Anyway, during the EA development process, I stumbled onto something I found quite interesting. I was looking for ways of keeping us out of bad trades and one of the things I was trying was putting levels around the 13SMA.

Quite by accident I noticed a pattern. By putting a +/- level around the 13SMA (in this case I used 13 for a level - fib number you know - LOL) and scrolling through a month, I noticed that the "ora" acted as resistance for BUYS and support for SELLs.

If they fell through their ora, most of the time the trend was broken or weakening and the market started moving the other way.

NOW WHY DO I TELL YOU THIS CRAZY TALE?

Well a trader is only as good as the sum of their knowledge, experience and TOOLS. This tool can assist you in when to be cautious and look to get OUT of a trade before it goes bad.

In the image below the PURPLE DASHED line is the +13/-13 level around the 13SMA. If you look carefully you will notice in the middle you will see the candles dip down and ALMOST touch the -13 level (acting as support).

If you look at the end of the chart, you see the candles climbing up getting ready to break -13. Since we are in a SELL this is an "early warning" that the trend may be weakening or coming close to the end of it's life. Once the candle crosses the 13SMA and penetrates the +13 level we can use this as a SIGNAL to exit the trade.

Just for fun, put +13/-13 levels around your 13SMA and scroll back through the days. You will see that sometimes it doesn't hold but a lot of times it DOES. Perhaps a +/-21 level might be better - probably depends on the pair.

Well have fun, and as a reminder:

SELL: -13 level = EARLY WARNING ..... +13 level = GET OUT!
BUY: +13 level = EARLY WARNING ..... -13 level = GET OUT!

And for those who do not know how to set levels, just click on the property box of the 13SMA and put them in on the LEVELS tab. (not example has 89's for levels - you would put 13 or 21)
Attached Image (click to enlarge)
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Attached Image
  • #210
  • Feb 27, 2008 6:45am Feb 27, 2008 6:45am
Neal you are a genius !!!!
Anyway i believe you posted a wrong picture for settings.( 89 and -89 instead of +13 and -13)
  • #211
  • Feb 27, 2008 6:51am Feb 27, 2008 6:51am
Sorry for my ignorance, but I am really new with Experts. So if you set the MM=True the fixed Stoploss and T/P will be ignored in the settings? Also, was the Deleting of the T/P done on purpose to let trades run at a certain point? I noticed that it happens on E/U and G/U quite a bit. I still have not seen the trailing stop kick in. Maybe I will re attach the expert to the charts and start from scratch. Thanks
  • #212
  • Feb 27, 2008 6:55am Feb 27, 2008 6:55am
Quoting gioviforex
Neal you are a genius !!!!
Anyway i believe you posted a wrong picture for settings.( 89 and -89 instead of +13 and -13)
Yes, I mentioned it at the end of the previous post (it was just a pic I already had).
  • #213
  • Feb 27, 2008 7:00am Feb 27, 2008 7:00am
Quoting Cmartin371
Sorry for my ignorance, but I am really new with Experts. So if you set the MM=True the fixed Stoploss and T/P will be ignored in the settings? Also, was the Deleting of the T/P done on purpose to let trades run at a certain point? I noticed that it happens on E/U and G/U quite a bit. I still have not seen the trailing stop kick in. Maybe I will re attach the expert to the charts and start from scratch. Thanks
MM has to do with the lot size it places.

Most people have a mini account or want to use a very small lot size.

Set LOTS=0.1 (instead if 1). What it will do is adjust your lot size it uses for placing the trade according to your account balance & Risk= setting.

Let's say you have $10,000 in your account and Risk=10 (10%).

When it starts trading it will be placing 1 lot orders. As your balance grows it will place 1.1, 1.2, 1.6, 2, 3,5.5, .... etc. So the EA place more lots on the same trade because your balance is larger and can support the risk if the trade fails. Also if a trade wins, your winnings is multiplied by that lot size factor.
  • #214
  • Feb 27, 2008 7:03am Feb 27, 2008 7:03am
Quoting melpheos
Of course but 50 pips loss on a 5K account with a full lot is 500$ => 10% of the account in one shot.

If you have 3-4 consecutive loosing position (that can happen as we all know) that would round 40% of the account lost. That is just too much of a drawdown to suffer.

Edit : now it's -38$ but +340$ in floating gain
same story if you use mini acc. and have a loss of 50$ ....
  • #215
  • Feb 27, 2008 7:09am Feb 27, 2008 7:09am
Quoting nealc99
MM has to do with the lot size it places.

Most people have a mini account or want to use a very small lot size.

Set LOTS=0.1 (instead if 1). What it will do is adjust your lot size it uses for placing the trade according to your account balance & Risk= setting.

Let's say you have $10,000 in your account and Risk=10 (10%).

When it starts trading it will be placing 1 lot orders. As your balance grows it will place 1.1, 1.2, 1.6, 2, 3,5.5, .... etc. So the EA place more lots on the same trade because your balance is larger and can support the risk if the trade fails. Also if a trade wins, your winnings is multiplied by that lot size factor.
Ok....basic MM. Just did not understand how the EA worked. I appreciate your help!
  • #216
  • Feb 27, 2008 8:44am Feb 27, 2008 8:44am
Working diligently on finishing up EA v1.1 for release before end of 23:59 GMT tonight.

Should be ready. Have Dr. appointment so will be gone a while.
  • #217
  • Feb 27, 2008 10:33am Feb 27, 2008 10:33am
Quoting gioviforex
same story if you use mini acc. and have a loss of 50$ ....
That was not my point

My point was to say that if you use mini lot .1 on a 5K account, 4 loss of 50 pips in a row will round only 4% drawdown and not 40%.
  • #218
  • Feb 27, 2008 10:50am Feb 27, 2008 10:50am
Quoting melpheos
That was not my point

My point was to say that if you use mini lot .1 on a 5K account, 4 loss of 50 pips in a row will round only 4% drawdown and not 40%.
Ok now is clear your point
  • #219
  • Feb 27, 2008 4:05pm Feb 27, 2008 4:05pm
NealC99,

Just when I learned how to apply +&- around the SMA 89 here you go & see a need for +&- around the the SMA 13. Just kidding, but seriously you have made a great discovery ref the the 13 SMA. Thanks.

AceTrader
  • #220
  • Feb 27, 2008 7:07pm Feb 27, 2008 7:07pm
Sorry guys for the delay in releasing v1.1

Took a nap and slept longer than I had planned. Then found 1 or 2 things I want to get fixed before releasing

Will be released as soon as I get them done.
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