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PowerSM Semi-Martingale EA

  • #41
  • Mar 18, 2008 12:28am Mar 18, 2008 12:28am
Chartist, sounds interesting, but for now I will be concentrating on some solid forward testing with just the basic settingss right now to sort out all the bugs before I start experimenting around. I really do appreciate the suggestions, maybe yourself or someone else can play around with it some more to tweak it. The only thing I would be a little concerned about is moving the stop to 75% of your TP, your setting yourself up for an easy stopout. keep the ideas coming!
  • #42
  • Mar 18, 2008 7:25am Mar 18, 2008 7:25am
Mer, so if I set "80" in the "breakevenstop" it will be correct? I see default is "30".

Quoting mer071898
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.
  • #43
  • Mar 18, 2008 9:38am Mar 18, 2008 9:38am
Hey Dreamliner, that field in the EA refers to PIPS not a percentage so, 75% of 30 pips is 20 pips. So, what goes in the field is 20.

If your take profit field is 100 pips for example and you want your breakeven field to be 80%... you would enter 80 pips. (when the price reaches 80 pips, it will move your stop to break even). Hope that helps.


Okay... here are the results for me today:

eurusd: entered on "time" @8:00 gmt: tp reached on 9th trade at 10:19 london.

usdchf: entered on "time" @8:00 gmt: tp reached on 2nd trade at 10:14 london.

By the way, my end time was set for 18:00 gmt.
  • #44
  • Mar 18, 2008 10:56am Mar 18, 2008 10:56am
Thank you for this information Chartist. I take it that you use half of the lots in the Excel sheet if you use two currencies? Or 1/4 the lots if you use 4?

Quoting Chartist
Hey Dreamliner, that field in the EA refers to PIPS not a percentage so, 75% of 30 pips is 20 pips. So, what goes in the field is 20.

If your take profit field is 100 pips for example and you want your breakeven field to be 80%... you would enter 80 pips. (when the price reaches 80 pips, it will move your stop to break even). Hope that helps.


Okay... here are the results for me today:

eurusd: entered on "time" @8:00 gmt: tp reached on 9th trade at 10:19 london.

usdchf: entered on "time" @8:00 gmt: tp reached on 2nd trade at 10:14 london.

By the way, my end time was set for 18:00 gmt.
  • #45
  • Mar 18, 2008 11:40am Mar 18, 2008 11:40am
No guys, you take 75% of your Take Profit level. The default level is already at that percentage. All you do is take you TP level and multiply it by 75% to get your BE level. For example we'll use 120 pip TP:

120 TP x 75% = 90 pips BE

The easiest way to manage your settings for different pairs is to set up the EA with the settings you want for that particular pair the save it. If you are doing multiple pairs on the same account you'll have to use an even # of pairs because trying to divide .1 lots by 3 might be a little tough :. Dreamliner for example, on his $1000 account can always trade one currency using twice the nano lots shown in the spreadsheet or use the default lots on two pairs.



Also here are my statements for Eur/Usd, Usd/Jpy, and Usd/Chf for 3/18/2008
Attached File(s)
File Type: zip PowerSM Statements.zip   4 KB | 748 downloads
  • #46
  • Mar 18, 2008 12:09pm Mar 18, 2008 12:09pm
Ah, that makes sense, thanks for the clarification.

Quoting mer071898
No guys, you take 75% of your Take Profit level. The default level is already at that percentage. All you do is take you TP level and multiply it by 75% to get your BE level. For example we'll use 120 pip TP:

120 TP x 75% = 90 pips BE

The easiest way to manage your settings for different pairs is to set up the EA with the settings you want for that particular pair the save it. If you are doing multiple pairs on the same account you'll have to use an even # of pairs because trying to divide .1 lots by 3 might be a little tough :. Dreamliner for example, on his $1000 account can always trade one currency using twice the nano lots shown in the spreadsheet or use the default lots on two pairs.



Also here are my statements for Eur/Usd, Usd/Jpy, and Usd/Chf for 3/18/2008
  • #47
  • Mar 18, 2008 12:38pm Mar 18, 2008 12:38pm
No problem, the best way to understand is to ask questions.
  • #48
  • Mar 18, 2008 4:06pm Mar 18, 2008 4:06pm
Another successful night of trading this EA.

Thanks for passing this on to us
"Keep your eyes on the helpers" - Mr. Rogers
  • #49
  • Mar 18, 2008 11:26pm Mar 18, 2008 11:26pm
Your welcome guys. And just let you know, it was recommended by one of the admins on another forum to add a cumulative statement as some people have provided falsified daily statements on his forum in the past and I want to make sure no one thinks I'm pulling the wool over anyones eyes. So I will be posting daily statements as usual along with a cumulative statement to show the total progress.
  • #50
  • Mar 19, 2008 1:08am Mar 19, 2008 1:08am
R U guys going to continue trading as we approach Easter Weekend, you know with the possible declining volumes? I'm thinking about not trading until next week. What do you guys think? Easter is big in Europe.
  • #51
  • Mar 19, 2008 1:13am Mar 19, 2008 1:13am
I know I will be just to see how the EA reacts. since I mostly trade daily and weekly charts with my other strategy it won't affect me that much.
  • #52
  • Mar 19, 2008 1:41am Mar 19, 2008 1:41am
Quoting mer071898
I know I will be just to see how the EA reacts. since I mostly trade daily and weekly charts with my other strategy it won't affect me that much.
Yeah, will be interesting to see if it does the full sequence of trades... in my opinion if it doesn't this week (maybe early next week); odds are really in favor of it not hitting full range during normal trading conditions ever.

So are you using PA and S/R levels? I sure do and take that into consideration on all my trades on all time frames.
  • #53
  • Mar 19, 2008 3:13am Mar 19, 2008 3:13am
I've tried the exact same way of trading this way about a year ago or so...I made it up myself(author has same mind as me), and one day...just one day...a bad day...your burn will happen. You will be sooooooo sad that you made profits for 3 years and burnt them ALL in 1 single night! Just wait and see...and please remember to remember my words!!!

Peace!
Request custom Expert Advisor or Indicator: dostapyuk "at" gmail . com
  • #54
  • Edited 4:58am Mar 19, 2008 4:54am | Edited 4:58am
Here are the daily results for all three pairs along with cumulative statements as well for 3/19/2008.

Chartist, I actually rely more on fibs and murrey math levels for my personal preference.

Oksana17, There is no need to throw out warnings that there's "inevitable doom" on the horizon. We've already agreed there is a possibility to blow an account going thru a full sequence, but I'm sure everybody on these forums understands the risks they take with trading forex as well as those participating in this thread. That's why you should only trade with money you can afford to lose.

What we're trying to do here is develop ways to minimize the risk and the losses as much as possible. If you do not want to throw out any helpful suggestions or constructive criticism, with no disrespect, please take the negativity to a different thread so we don't waste your time or our time, thanks.
Attached File(s)
File Type: zip PowerSM Statements.zip   9 KB | 620 downloads
  • #55
  • Mar 19, 2008 5:19am Mar 19, 2008 5:19am
Quoting mer071898
Here are the daily results for all three pairs along with cumulative statements as well for 3/19/2008.

Chartist, I actually rely more on fibs and murrey math levels for my personal preference.

Oksana17, There is no need to throw out warnings that there's "inevitable doom" on the horizon. We've already agreed there is a possibility to blow an account going thru a full sequence, but I'm sure everybody on these forums understands the risks they take with trading forex as well as those participating in this thread. That's why you should only trade with money you can afford to lose.

What we're trying to do here is develop ways to minimize the risk and the losses as much as possible. If you do not want to throw out any helpful suggestions or constructive criticism, with no disrespect, please take the negativity to a different thread so we don't waste your time or our time, thanks.
Same results as you for today. All three pairs winners and the won early in the rotation. That is what I like .

I will probably not trade on Friday or Monday with this method, however I will most likely keep my daily trades open as well.
"Keep your eyes on the helpers" - Mr. Rogers
  • #56
  • Mar 19, 2008 1:16pm Mar 19, 2008 1:16pm
Nice system Mer.

First off all: I understand the risks.

I've tried it on a real account (nano's) today and it looked promising.
GBPUSD, 5 min. No time or price entry. Nano lotsize.
Break Even feature is great.
1% increase in equity. Started system at 11:00 GMT. Then it just stopped at about 17:12 GMT. I don't know why.

Can you give a clue Mer?

Thanks
  • #57
  • Edited 2:50pm Mar 19, 2008 2:40pm | Edited 2:50pm
Did it hit your take profit level or did it just stop in the middle of a sequence? If you can post your log maybe we can see what happened.

And remember in post #22 I mentioned a possible bug we're trying to correct where the EA will sometimes not enter a sequence when the time and price entries are set to false.
  • #58
  • Mar 19, 2008 3:28pm Mar 19, 2008 3:28pm
I didn't trade today nor will I until Tuesday of next week, when I feel more comfortable with the market.

happy trading and take care guys!
  • #59
  • Mar 19, 2008 3:31pm Mar 19, 2008 3:31pm
Good job Damonl!

Hey Oksana, I don't think FX is for you .
  • #60
  • Mar 19, 2008 8:15pm Mar 19, 2008 8:15pm
Quoting Chartist
Good job Damonl!

Hey Oksana, I don't think FX is for you .
On the other hand, I, too, have serious concerns about any martinagle system, no matter how much the risk is reduced (as is with Merc's EA). People who have much experience trading will not touch any form of Martingale at all, believing it will do exactly as Oksana has said and eventually blow out the account.

I remember one time reading about a man who was a gambler, and he stated that there were times when he would watch the ball end up on "green" over 30 times in a row.

I myself did the d'lambert (a semi-martingale) method of trading on a live account, and it blew up the account in 3 months. I vowed never to trade that way again.

Books on trading will tell you that any Martingale system will eventually destroy your account, unless you have infinite funds to keep from a margin call.

Merc I'm not wanting to be negative, but I'm curious if you have read these things also, and what your thoughts on them might be.
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