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PowerSM Semi-Martingale EA

My EA is set to start at 12:00 EST which, if you figure in DST, is 06:00 GMT or the hour before the Frankfurt open. My Eur/Usd closed out 9 minutes before the London open at level 4.
OK, there is the answer!! You closed at level 4. I started one hour later and ran all 24 losses... that is both good and bad!

Good because 6gmt has been consistently winning, but so has 7gmt until today...

Bad, because it proves that even one hour difference can make or break you!! I am (reasonably) sure that perhaps one day it just might be the inverse... 7gmt would be OK, but 6gmt might bust....

Food for though, I guess!!
If it helps, I see Eur/Usd falling soon because of resistance from the 61.8 fib. Of course you never know what the market will throw at you.
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I use 6:00 GMT as well. At the moment this is 08:00 local german time so one hour before Frankfurt open. In winter you have to set it to 7:00 GMT due to daylight saving...

7:00 GMT should work, too. But there is no guarantee of course. Someday it will happen... That's why the best entry might be not a timed one but an important(!) support/resistance level where bulls fight against bears and a breakout in one of the directions will happen...

Regards - Xaron
PowerSM V.4 is now posted in first post. When my sequenced stop at my end time (if using timed entry function), a small bug caused the EA to pick up where it left off if outside of the timed entry parameters once I restarted my platform. The CheckForSignals() function has been optimized and is now fixed.
Thanks for posting. Is there a way to use the time entry start without a stop time? If I want to use higher stop and tp settings a trade can last several days... I don't want to stop then, I just want to use the time entry start.

Thanks and best regards - Xaron
Unfortunately I don't think so unless you try setting the end time about a minute before your start time. At least that way when the sequence ends the EA won't immediately enter new sequences like it would if the timed entry and price entry were false.
Xaron.... YES it WILL HAPPEN... (7gmt bust...) .and did.... Friday, with a 7gmt start time, ran all 24 losses, and actually a few more just tracking it!! Default settings 10/40, 30pBE etc... all 24 losses...

So we now have it documented!! It will happen at any time really, 6gmt is no guarantee that it will or won't in and of itself...

We need a good entry strategy IN ADDITION to time....

But, that's what we are all here for!!!
Well said mrkam, In my opinion I believe the hour before the Frankfurt allows the EA to get "setup" sooner because we do have some movement after the Frankfurt open and then if that doesn't hit during that hour hopefully the EA will be aimed in the right direction. I do strongly think using fibs and Murrey levels might help for predicting general direction but the entry can still be fickle. I also thought about lowering my BE way down, say to 15-20, now that the EA will re-enter at the same level if stopped out to see what that might do. Any thoughts?
I did not trade on Friday because of the lack of fundamentals during London... I'm not a fan of entering during NY with this EA either.

Good rule of thumb is.... if there is no critical news coming out and especially on Fridays... don't use this EA that day.
Hi mer...
Could I ask a question, and I apologise in advance if this has been covered elsewhere.
Can I change the lot sizes to start at 0.01 instead of 0.1?
If so, do I alter all in the 'Lots Progression' sector of Inputs.

Also I was running the demo V.2 on Alpari last week (using default settings) and Friday was a winner only going to 0.6 lots so nowhere near 24th level.

Cheers
Marek
Hi Marek! I think we have a mutual friend!!

Yea, very easy. It will trade .01 just fine... if your account does, of course. And you can change both the progression lot sizes and number of trades just by editing that input. Just type in new numbers, seperated by a ";". So,, .01;.01;.03 would be just a three trade sequence, then stop, with the lot sizes shown....

If Alpari did not bust, then we have another "issue". I trade FXDD. Could this be "broker dependent??. Probably not, I bet your start time was 6gmt, not 7gmt like mine.... It busted. No doubt about it, see the screenshot below... We HAVE to be aware that it can (and DID!) happen.... Screen shots below... (I stopped it after 20 losses, but tracked a bunch more, over 24!)
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Quoting mrkam
.......... It busted. No doubt about it, see the screenshot below... We HAVE to be aware that it can (and DID!) happen.... Screen shots below... (I stopped it after 20 losses, but tracked a bunch more, over 24!)
Hello Mark and everyone else.......As the creator of this Stratgey, I have likely been trading this concept longer than anyone else so please understand that the use of a TIMED ENTRY without any other consideration will eventually lose. Price Action is the key to finding a good entry in ADDITION to time and other factors such as, do we expect volatility due to upcoming news, etc. Traders cannot just enter ramdomly during a particular session. This is a recipe for disaster.

GOOD TRDAING !

Dan
  • Post #234
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  • Edited 12:04pm Apr 13, 2008 12:01pm | Edited 12:04pm
Quoting Chartist
I did not trade on Friday because of the lack of fundamentals during London... I'm not a fan of entering during NY with this EA either.

Good rule of thumb is.... if there is no critical news coming out and especially on Fridays... don't use this EA that day.

I agree with you and Dan (FXTradepro), if there is no critical news coming out turn off this EA. I have let this EA run all the time and have not lost yet but can't stomach the huge dd, I don't like this EA during the NY session either.....Dan
Hi MrKam,
Yes we do have a mutual friend!!
He has just gone to France and has phoned me for your email and to help set up his trading PC.
Regarding the trades on Friday; You seem to have started a lot later than me. My winning trade took place at 08:08 on Alpari's time ([email protected] closing at 08:55 @1.5816). So I was all done and dusted before you!

Cheers
Marek
Quoting qz10cq
I agree with you and Dan (FXTradepro), if there is no critical news coming out turn off this EA. I have let this EA run all the time and have not lost yet but can't stomach the huge dd, I don't like this EA during the NY session either.....Dan
Yeah, I won't be trading this London session either!
Hi,

today I've tried the Lucky 7 setup with a SL of 20 and a TP of 80 in the EUR/JPY. TP was reached in the 4th progression level.

I used a price entry - short below a support level in the hourly chart. I've attached the statement.

Regards - Xaron
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Quoting Xaron
Hi,

today I've tried the Lucky 7 setup with a SL of 20 and a TP of 80 in the EUR/JPY. TP was reached in the 4th progression level.

I used a price entry - short below a support level in the hourly chart. I've attached the statement.

Regards - Xaron
Hi Xaron
What power SM version did you use ?
I used V.3

Regards - Xaron
Quoting Xaron
I used V.3

Regards - Xaron
Woow, you have changed avatar !
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