good idea, I'll see what my coder can do. I'm pushing the freebies he gives me to the limit as it is but we'll see.
- #122
- Mar 26, 2008 9:36pm Mar 26, 2008 9:36pm
Well guys, I've got good news and bad news.
First the good news. PowerSM V.2 is here!!!
1) This is for Chartist. My coder was able to make the "Re-Enter" function possible!I've attached a pic of the trades to show everyone how it shows it re-entering a trade at the same level where it was stopped out at. It will only perform this function when your breakeven input is triggered. I purposely set my BE to 20 pips to risk being stopped out more often for testing purposes and I will change it back to 30 for tomorrow's trades.
2) A small bug in the PriceEntry logic was fixed.
3) The "False-False" bug I believe has been fixed. I entered trades last night around 03:00 GMT (way early for me) because I was itching to see if it worked and it did.
Now the bad news.
For those of you using the EA with the time and price entries set to "False", the EA will enter a new sequence immediately after a sequence is closed. The only way to combat this is to manually turn off the EA to stop trading or, once the EA is placed on the chart, change either the time or price entry to "True" to override.
My Eur/Usd did finish out three sequences this morning and would have keep going if I didn't change it to a Timed Entry. Same with Usd/Chf. My Usd/Jpy is still going and since it closed out at 16.50 lots with $0 profit (probably due to the time entered and the BE input is too low), it should start up tomorrow at the same 16.50 lot level if all is well. I'm going to start the EA back up at 00:00 GMT because Usd/Jpy is around the 38.2 retracement and I don't want to go longer than 7 levels if possible. Also this shows why it is important to be in at the right time of day for the correct volatility and you should keep your BE input to no less than 75%.
This 2nd version sounds awesome! Will start using it during London! Thank you for all your effort!
I like fewhills' suggestion and who knows, some people might even like the idea of it opening a new cycle! That could be a feature all by itself.
Profitable trading to everyone!
- #125
- Mar 27, 2008 1:16am Mar 27, 2008 1:16am
- Joined Jan 2007 | Status: Trader | 1,626 Posts
Steve, I agree with Jeff in that backtesting is worthless because there are a lot of variables to consider when using this EA. Also you may not have enough equity needed in the account to match whatever leverage you are using. You must have had some interest to go through all that so called testing.
Feel free to post your test results like I do and I'm sure we'll be able to see what you doing wrong because myself, Chartist, and several others have had no problems in our testing. Hell, I even entered 4 hours before my normal time yesterday, suffered through a ranging period, and still closed before the 24th level. So I know the EA works, especially if you follow the rules!
I guess if you don't like the EA feel free to just post elsewhere and let us "losers" do our own constructive evaluations.
Feel free to post your test results like I do and I'm sure we'll be able to see what you doing wrong because myself, Chartist, and several others have had no problems in our testing. Hell, I even entered 4 hours before my normal time yesterday, suffered through a ranging period, and still closed before the 24th level. So I know the EA works, especially if you follow the rules!
I guess if you don't like the EA feel free to just post elsewhere and let us "losers" do our own constructive evaluations.
- #127
- Mar 27, 2008 9:16am Mar 27, 2008 9:16am
Hi Mer, et al...
thanks for your (and your programmers) hard work on this EA. I used the new version 2 last night on the GBP/JPY, with a Break Even set at 90. I use a 120 TP and 30 SL. The stop loss didn't adjust itself to break even after the GBP/JPY went up by more then 90. I was wondering if this was a problem with V2 and if anyone else had experienced it. BTW, it closed out on the 2nd entry for +120.
I have been working with Dan's EA ever since he first put it up. I like both versions, yours and his. I have been very profitable (so far demo only). It is so customizable that it can fit almost anyones trading style. BUT...like has been said many times, it is not a set it and forget it system. The only times I got in trouble were when I made stupid entries and didn't follow my rules. Just like any trading system. Discipline! I'll put up some of the things I learned later.
Thanks again,
Tvanny
I do agree with you; this is not a (randomly) set and forget system. Working it that way could potentially kill your account if you make stupid entries and thus robotic back testing does not work as Mer has already stated. Anyways, could you tell us more about when you enter your gbp/jpy trades and have you found 120TP, 90BE, 30SL to be the best setting for this pair?
My first V2 trade:
usd/chf: set to open on "time" function @ 10:30AM GMT.
Closed on first trade of cycle @ 12:10PM GMT +44pips TP.
Last two days have not cycled past the 1st trade. Not bad for a "loser"!
Well I haven't reached any break evens yet with testing the v2 but I will surely watch and report any bugs! Please do share with us any experiences and knowledge you may have with this!
I do agree with you; this is not a (randomly) set and forget system. Working it that way could potentially kill your account if you make stupid entries and thus robotic back testing does not work as Mer has already stated. Anyways, could you tell us more about when you enter your gbp/jpy trades and have you found 120TP, 90BE, 30SL to be the best setting for this pair?
My first V2 trade:
usd/chf: set to open on "time" function @ 10:30AM GMT.
Closed on first trade of cycle @ 12:10PM GMT +44pips TP.
Last two days have not cycled past the 1st trade. Not bad for a "loser"!
I’ve been using a TP/SL of 120/30 for GBP/GPY for quite awhile. Just look at its average daily range! Holy crap! Sometimes I wish I would put in a higher TP. The larger TP/SL gives me a much more relaxed trading posture. There’s a little more room for slop. I use a Bollinger band with settings of 10/2 and I also use a Bollinger Band width indicator with a 10/2 setting (just helps me visualize). I also put fractals and a support/resistance indicator on the chart. I’ll put up a copy of my chart when I get home. What I’ll do is open a 15 minute chart and look at the last couple weeks of data. When I see where the Bollinger Bands have contracted, I put a reference line on the Bollinger Band width indicator in the lower window. I look at a 15 minute chart and see where the Bollinger Band width indicator breaks through my reference line. It just indicates increasing volatility. The perfect trade setup (ok, nothings perfect) is when the Bollinger Band width indicator starts to break out right before the Europe open. There is a lot more to it. It’s hard to explain a discretionary trading style. Is there a lot of news scheduled? Was there a huge run yesterday? Has there already been too much movement before the Europe open? Etc, etc…
I’ve also gone back and manually forward tested my 30/120 settings for GBP/JPY, from about the first of October thru the beginning of March. Just use the F12 button and advance one bar or candle at a time. I skipped holidays. I just open a trade at 7 GMT and see how it goes. Here’s the fun part, I was experimenting with only going to 11 levels, not 24. I don’t have my statistics in hand, but if I remember, out of about 100 trades I hit the 12th level (bust) 4 times. But because the other trades were winners, I more then doubled my account in less the six months (remember, very UNscientific study). Look at the Excel spread sheet for the profit at different levels. I also saw that I would have hit 25 levels at least once thereby taking a huge hit on my account.
Bla bla bla, I’ve rambled enough.
Tvanny
- #134
- Mar 27, 2008 1:26pm Mar 27, 2008 1:26pm
- Joined Jan 2007 | Status: Trader | 1,626 Posts
Don't worry, I'm not saying the way you're doing it is wrong by any means 
, everybody has there own preference. I prefer to use the more stable pairs and others, like yourself, use what's comfortable for them. there is no wrong way as long as the basics are followed.
, everybody has there own preference. I prefer to use the more stable pairs and others, like yourself, use what's comfortable for them. there is no wrong way as long as the basics are followed.
- #135
- Mar 28, 2008 3:07am Mar 28, 2008 3:07am
- Joined Jan 2007 | Status: Trader | 1,626 Posts
Alright, it's not even been an hour after the London open and my trades for 3/28/2008 are already done and I can go to bed, gotta love it! One thing I did do was start my timed entry at the Frankfurt open if we could see if there are any improvements on how much faster the sequences closed and was pleasantly surprised. It may be different next week so we won't get our hopes up.
Obviously, we've still got a long way to go but it's been 13 days and still going strong except for the scare on the 26th which was my fault for breaking my rules and getting ahead of myself with testing V.2. Hope everyone else is doing well.
One thing I did do was start my timed entry at the Frankfurt open if we could see if there are any improvements on how much faster the sequences closed and was pleasantly surprised. It may be different next week so we won't get our hopes up.Obviously, we've still got a long way to go but it's been 13 days and still going strong except for the scare on the 26th which was my fault for breaking my rules and getting ahead of myself with testing V.2. Hope everyone else is doing well.