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PowerSM Semi-Martingale EA

  • #21
  • Mar 16, 2008 8:17pm Mar 16, 2008 8:17pm
To Chartist,

Thanks for the input.

1.) If you are GMT+2 just add 2 to whatever start time you prefer. If London open is at 08:00 GMT, you would set the timed entry to 10:00.

2.) Currently I am having some bugs in the EA where it is not entering immediately when both price and timed entries are set to false, so I can't test that out for you right now but I will e-mail my coder and ask him. With nothing there to stop the EA from starting a new sequence like a price point or a time I would assume it would start up another sequence after the TP is hit. Once I get the bug fixed I'll test it out for you to see if it keeps opening a new sequence or stops automatically.

3.) Again, after I get the bug fixed, when you're indicator gives you the go ahead to enter just set the timed and price entry to false and stick it on the chart and the EA will enter the trade on the next tick.

4.)The main reason I added the Breakeven function is so I don't have to sit in front of the computer all night to watch the trades and if a trade goes the wrong way after almost hitting my TP I won't lose anything. But again I warn people not to go anything less than 75% of the TP level for your breakeven point in order to minimize getting stopped out too often.

Just to let you know I'm also trying to see if my coder can add another feature to the EA. Say, for example, we are in a trade and we are on the 5th sequence level and our breakeven setting was hit and our stop moved, then the trade went against us and stopped us out for 0 pips. What I'd like the EA to do is re-open the trade at the 5th level where it was stopped out instead of going to the 6th level. Basically it would be a freebie trade and we would actually end up with 25 chances instead of 24 chance to hit our TP level. What do you guys think?
  • #22
  • Mar 16, 2008 9:33pm Mar 16, 2008 9:33pm
Quoting mer071898
To Chartist,

Thanks for the input.

1.) If you are GMT+2 just add 2 to whatever start time you prefer. If London open is at 08:00 GMT, you would set the timed entry to 10:00.

2.) Currently I am having some bugs in the EA where it is not entering immediately when both price and timed entries are set to false, so I can't test that out for you right now but I will e-mail my coder and ask him. With nothing there to stop the EA from starting a new sequence like a price point or a time I would assume it would start up another sequence after the TP is hit. Once I get the bug fixed I'll test it out for you to see if it keeps opening a new sequence or stops automatically.

3.) Again, after I get the bug fixed, when you're indicator gives you the go ahead to enter just set the timed and price entry to false and stick it on the chart and the EA will enter the trade on the next tick.

4.)The main reason I added the Breakeven function is so I don't have to sit in front of the computer all night to watch the trades and if a trade goes the wrong way after almost hitting my TP I won't lose anything. But again I warn people not to go anything less than 75% of the TP level for your breakeven point in order to minimize getting stopped out too often.

Just to let you know I'm also trying to see if my coder can add another feature to the EA. Say, for example, we are in a trade and we are on the 5th sequence level and our breakeven setting was hit and our stop moved, then the trade went against us and stopped us out for 0 pips. What I'd like the EA to do is re-open the trade at the 5th level where it was stopped out instead of going to the 6th level. Basically it would be a freebie trade and we would actually end up with 25 chances instead of 24 chance to hit our TP level. What do you guys think?
This makes sense to me
"Keep your eyes on the helpers" - Mr. Rogers
  • #23
  • Mar 16, 2008 9:40pm Mar 16, 2008 9:40pm
Quoting mer071898
To Chartist,

Thanks for the input.

1.) If you are GMT+2 just add 2 to whatever start time you prefer. If London open is at 08:00 GMT, you would set the timed entry to 10:00.

2.) Currently I am having some bugs in the EA where it is not entering immediately when both price and timed entries are set to false, so I can't test that out for you right now but I will e-mail my coder and ask him. With nothing there to stop the EA from starting a new sequence like a price point or a time I would assume it would start up another sequence after the TP is hit. Once I get the bug fixed I'll test it out for you to see if it keeps opening a new sequence or stops automatically.

3.) Again, after I get the bug fixed, when you're indicator gives you the go ahead to enter just set the timed and price entry to false and stick it on the chart and the EA will enter the trade on the next tick.

4.)The main reason I added the Breakeven function is so I don't have to sit in front of the computer all night to watch the trades and if a trade goes the wrong way after almost hitting my TP I won't lose anything. But again I warn people not to go anything less than 75% of the TP level for your breakeven point in order to minimize getting stopped out too often.

Just to let you know I'm also trying to see if my coder can add another feature to the EA. Say, for example, we are in a trade and we are on the 5th sequence level and our breakeven setting was hit and our stop moved, then the trade went against us and stopped us out for 0 pips. What I'd like the EA to do is re-open the trade at the 5th level where it was stopped out instead of going to the 6th level. Basically it would be a freebie trade and we would actually end up with 25 chances instead of 24 chance to hit our TP level. What do you guys think?
I like it! That would bring down the risk even further.

When do you think that bug will be worked out and posted the fixed version?

Thank you for the advise about the stop level and also thank you for answering my questions!
  • #24
  • Mar 17, 2008 12:10am Mar 17, 2008 12:10am
You're welcome Chartist, I'm hoping my coder can work on it this week and get everything worked out and fixed.
  • #25
  • Mar 17, 2008 1:20am Mar 17, 2008 1:20am
Here's the statement for 3/17/2008 for Eur/Usd.
Attached File(s)
File Type: zip statement 1.zip   2 KB | 821 downloads
  • #26
  • Mar 17, 2008 3:06am Mar 17, 2008 3:06am
Here's the statement for 3/17/2008 for Usd/Jpy and Usd/Chf.
Attached File(s)
File Type: zip statement 1.zip   2 KB | 701 downloads
  • #27
  • Mar 17, 2008 5:34am Mar 17, 2008 5:34am
Cool! Looks like after the tp is hit, the ea does not take any more trades even if the end time has not expired.
  • #28
  • Mar 17, 2008 7:39am Mar 17, 2008 7:39am
Yep, and as soon as I get the bug fixed I'm hoping with both entry functions set to false it'll do the same thing, go through a sequence then stop.
  • #29
  • Mar 17, 2008 1:30pm Mar 17, 2008 1:30pm
I opened a trade today by having TIME and PRICE set to false and it did take a few seconds once I dropped it in but, it didn't seem like it took waaay too long but perhaps it could be quicker. I don't know if my virtual server has anything to do with improving the ea's performance as well.

Anyways, I had my first winning trades this morning during London with usd/chf reached tp on the second trade and gbp/usd reached tp during NY session on the 5th trade.

I'm sleeping during London so, I set the start time to coincide with a news event and I'm awake during NY to choose when to enter. I also changed the lots sequence a little to allow for multiple currencies trading at the same time.

I wonder how far fetched it would be to just have 17 levels instead of 24?
  • #30
  • Mar 17, 2008 2:43pm Mar 17, 2008 2:43pm
Quoting mer071898
Here's the statement for 3/17/2008 for Usd/Jpy and Usd/Chf.
I had the same results as you except my USD/JPY opened up 11 trades before hitting. Yours far less.

What is your spread for UJ? At one point it looks as if it missed the P/T by 1 pip.
"Keep your eyes on the helpers" - Mr. Rogers
  • #31
  • Mar 17, 2008 3:59pm Mar 17, 2008 3:59pm
Chartist, If you want to trade 17 levels just remove the last 7 lot sequences in the inputs and there you go. That's why it is here for us to play with and test. Good job on Gbp/Usd, I never did like that pair using this EA. What are you using for TP, breakeven, and stop?

damonl, my pip spread on all three pairs I trade are 2 pips but I did not open my Usd/Jpy sequence until 08:15 instead of 07:00, maybe that was the difference. Just curious, how many of those 11 trades did the breakeven setting save you from having a loss?
  • #32
  • Mar 17, 2008 3:59pm Mar 17, 2008 3:59pm
I don't understand the Excel sheet for lot sizes. Let's say a person was trading with $1,000.00 on a mini account with IBFX at 400.1. Thank you.
  • #33
  • Mar 17, 2008 5:24pm Mar 17, 2008 5:24pm
Dreamliner, here is a quick video to explain a little about the spreadsheet. Before you watch it I've attached the original spreadsheet in the first post for everyone which has the info on IBFX accounts on it. It's an AVI video so let me know if you have any problems playing it.

http://i86.photobucket.com/albums/k1..._excelhelp.jpg
  • #34
  • Mar 17, 2008 5:43pm Mar 17, 2008 5:43pm
The video was very helpful, thank you for making it!

What number is good to put in the "breakeven stop" assuming 10 sl and 40 tp?
  • #35
  • Mar 17, 2008 6:02pm Mar 17, 2008 6:02pm
One other question: I have set both the "time entry" and "price entry" to false, I have enabled live trading, and the smiley face is on the top right, but the EA is not opening any orders. This is a demo account, is it possible that the ea needs to be worked for a demo account?
  • #36
  • Mar 17, 2008 6:39pm Mar 17, 2008 6:39pm
Quoting mer071898
Chartist, If you want to trade 17 levels just remove the last 7 lot sequences in the inputs and there you go. That's why it is here for us to play with and test. Good job on Gbp/Usd, I never did like that pair using this EA. What are you using for TP, breakeven, and stop?

damonl, my pip spread on all three pairs I trade are 2 pips but I did not open my Usd/Jpy sequence until 08:15 instead of 07:00, maybe that was the difference. Just curious, how many of those 11 trades did the breakeven setting save you from having a loss?
It would have saved me 2 trades, which with a system like this would be quite significant regarding the lots not chaning on a B/E issue.

What made you wait until 8:15? That was the difference. Do you always wait until 8:15 or was that just today?
"Keep your eyes on the helpers" - Mr. Rogers
  • #37
  • Mar 17, 2008 7:03pm Mar 17, 2008 7:03pm
Hi Mer071898,

Good job on the break-even aspect to this EA. I'm sorry that Dan (FXTradepro) was upset with your thread. Nonetheless, this is what makes forums such as this so valuable... You were able to take Dan's system and build upon it. Hopefully, someone will be able to incorporate an additional demension or technique that would even enhance this system further.

As I've stated on FXTradepro's thread, the biggest challenge with this system is the fact that the drawdowns on each progession become more devastating. If one were to experience 24 failures in a row, then there you have a Blown Account. In order to minimize that situation, perhaps the best bet is to enter the trades during the opening of the London market, wherein the likihood of a break-out is greatest.

Walt
  • #38
  • Edited 7:36pm Mar 17, 2008 7:34pm | Edited 7:36pm
Mer, I used the regular 10 sl, 40tp, 30b/e, and one of those trades was a breakeven trade I forgot to mention and I agree with Damoni in that it would be awesome to have a second chance after the b/e without increasing the lot size. You're right about this pair though, I don't like it too much with this EA, its a little too volatile.

Here's my sequence I'm going to try: .1, .1, .2, .3, .4, .6, .8, 1.1, 1.4, 1.8, 2.3, 2.9, 3.7, 4.7, 5.9, 7.4, 9.3...... the rest I've removed. So I'm going to try this 17 trade strategy which better suits my style. I'll keep you posted.

Hey Mer, do you only trade usdjpy, eurusd, and usdchf with this EA? Also, do you trade the NY session at all?
  • #39
  • Mar 17, 2008 9:01pm Mar 17, 2008 9:01pm
Dreamliner, your welcome, I figured a video might be easier to understand. As for my breakeven setting I try to be at least 75% of the TP because if you happen to notice that the 61.8% fib level is 24-25 pips if it retraces. Now the GBP pairs will have an uncanny knack to retrace to the 76.4% more often so maybe stick to 80% of TP on those pairs. In post #22 I mentioned there might be a bug that's not letting the EA open immediate trade sequences with both settings to false but my coder is trying to catch up and look at it.

damonl, I didn't get in at 07:00 because my timed entry didn't open a sequence for some reason and I had to reopen my MT4 and change th entry time to get it to work correctly, another possible bug? I don't know yet.

jones247, Thanks for the support. I have no hard feelings or hatred towards FXTradepro, I just thought he went about thing the wrong way by promising a free EA then taking it away from the rest us on the forum because he decided to charge for it. And I agree, the drawdown sucks as you go deeper in the sequence, but that's why I added the breakeven function and the ability to stop trading after the big boys shutdown for the day.

Chartist, again I hoping my coder can put the "second chance" feature in because the more chances you have the better, especially without having to increase the total drawdown even more. Let me know how the 17 sequence thing goes. If you do change the lot sizes, go ahead and plug those into the calculator first to make sure you get some profit at each level. Right now these are the only three I'm testing right now but I do have plans to try out Gbp/Jpy because that's the pair I trade the most with my PowerSwing strategy (hopefully you'll see that here shortly). Since I do run a business with my older brother I don't get to sit at my screen and trade during London or New York opens like I would like, that's what interested me in building this EA so I can set it and forget it.
  • #40
  • Mar 17, 2008 9:21pm Mar 17, 2008 9:21pm
Mer, have you thought about trying this:

Instead of closing out all the lots at TP, it closes out 1/2 of the lots and moves the stoploss to 75% of the TP. From here you could call it a day OR have it open the sequence again at the TP as long as the "time end" function is willing... I think you would have to limit the amount of sequences to 2 though. This may allow you to ride out the trend longer.

Look forward to your input and everybody elses'!
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