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Is This My Holy Grail EA :D

  • #321
  • Edited 6:49pm May 15, 2008 6:10pm | Edited 6:49pm
On my live demo testing the 100 tp reenter 40 following a daily trend. Using .05 a trade since mid April, used .01 April 1 to April 14. I also am testing on 15 pairs during May. Here is a chart of winnings. You will see some dips, that is where I closed potential death trades because certain currencies went out of range. I think you can see a managed Martingale can work and make money on a consistant basis. Also we have seen less volatility in the market lately so that slows down the winnings and also the losses.
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  • #322
  • May 15, 2008 6:18pm May 15, 2008 6:18pm
I had entered the May contest. I am using the same program above but I dont have the wiggle room of the 3000 dollar demo since you use 250 live dollars for the contest but I only can use 4-6 currencies at one time. I also am trading .01 a trade on a 100/40. Last Friday I had to close out 3 trades since they had gone beyond the currency range. I wont be winning any contest this month but I am showing you can control the death trade and not wipe out the account. I am back to 256 dollars after getting hit hard last Friday. So the account has recovered. I have 7 trading days in the contest and I will now concentrate on just making a profit for the month.
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  • #323
  • Edited 6:58pm May 15, 2008 6:28pm | Edited 6:58pm
Here is a strategy I am using in stopping death trades. When a trade gets very high or very low on my pivot charts. I take my profit when it is hitting a support or resistance line. (I dont always wait for it to hit my TP of 100) Now what will happen here is the EA will enter another buy trade but you are in a reversal area. I dont want to enter here in case it is a reversal. I will turn off the EA on this pair and wait until it gets near the main pivot line which is usually the next day. I then will turn the EA back on, on that particular currency. Just a precaution I use live trading in the contest. Here is a pic of a trade I closed out the profit when it got to R2 (second resistance line). The next day the pivot lines reset and I turned the EA back on for this currency pair when it is close to the white pivot line.
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  • #324
  • May 15, 2008 6:48pm May 15, 2008 6:48pm
Lets pretend in the above chart you had gone beyond the trading range of a currency pair on a sell trade. You are at R2 and wondering if you should get out? I would place a stop loss above R2 and then look for a good exit point. I would be looking for an exit at m4 or R1. If I think price is going to reverse and I have a chance of still getting profit. I would move my stop loss to m4+ 10 when it got to R1. I would move my stop loss to R1+10 if it gets to m3 and so on. I have saved a lot of funds looking to get out on a retracement instead of taking it as soon as it goes beyond a currency range or the EA range.

What I mean by range is I use a step 40 and I go 8 levels deep. That means at 320 pips it will reenter the market for the last time. When price goes beyond 350-400 pips of 1st entrance I am facing a potential death trade, which means it will never go back to the last TP line and clean out my account. It is here you start thinking of an exit strategy and take your loss. I then use my pivot lines to determine where I should exit.

So in the above chart, if I am going beyond range. I would not carry my losses past R2 and I would try to exit at m4 or R1. If I think there is a reversal coming I move my stop loss with price until I make a profit or I stop out. This is a way to minimize your losses of a death trade. I hope this helps.

Bob
  • #325
  • Edited 5:38am May 26, 2008 5:18am | Edited 5:38am
The contest is over and I ended up in 144 place out of almost 500 that started. I basically broke even for the month but I felt I have proven my point that you dont have to be beaten by the death trade. I had 4 potential death trades I closed but still won enough to break even. You can see it coming and you can take the loss and go on. YOU CAN MARTINGALE TRADE WITHOUT BEING WIPED OUT, YOU JUST NEED TO KNOW WHAT TO LOOK FOR. I was not able to trade much the last week. I live in Nanning China and the internet was not reliable for a couple of days so I did not trade Tues-Thurs. the last week. Probably problems caused by the earthquake in the next province. My final was -5.03 for the month.

The Demo account I am using with 15 pairs trading at .05 continues to win. I am finding out that trying to trade with only 250 dollars is difficult but with 3000 there is plenty of room to keep winning. I am going to start Tues. 5-27 going up to .10 a trade since I am now over the 5200 dollar mark. My 7 week total is 2277.83 profit. Having enough funds seems to be a key issue with martingale, well, with the way I am using it. Anyway here is a picture of the live demo after 7 weeks.

I hope to report a new way of using it next week that uses very little margin and seems successful. I want to live demo it another week successfully before I bring it to your attention. I am trying it on 19 pairs on only 250 dollars and it seems to be working.

Still have not had anyone redo the programming where the Martingale will only close 1 trade in stead of all of them at the TP level.
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  • #326
  • May 26, 2008 9:50am May 26, 2008 9:50am
Quoting nanningbob
The contest is over and I ended up in 144 place out of almost 500 that started. I basically broke even for the month but I felt I have proven my point that you dont have to be beaten by the death trade. I had 4 potential death trades I closed but still won enough to break even. You can see it coming and you can take the loss and go on. YOU CAN MARTINGALE TRADE WITHOUT BEING WIPED OUT, YOU JUST NEED TO KNOW WHAT TO LOOK FOR. I was not able to trade much the last week. I live in Nanning China and the internet was not reliable for a couple of days so I did not trade Tues-Thurs. the last week. Probably problems caused by the earthquake in the next province. My final was -5.03 for the month.

The Demo account I am using with 15 pairs trading at .05 continues to win. I am finding out that trying to trade with only 250 dollars is difficult but with 3000 there is plenty of room to keep winning. I am going to start Tues. 5-27 going up to .10 a trade since I am now over the 5200 dollar mark. My 7 week total is 2277.83 profit. Having enough funds seems to be a key issue with martingale, well, with the way I am using it. Anyway here is a picture of the live demo after 7 weeks.

I hope to report a new way of using it next week that uses very little margin and seems successful. I want to live demo it another week successfully before I bring it to your attention. I am trying it on 19 pairs on only 250 dollars and it seems to be working.

Still have not had anyone redo the programming where the Martingale will only close 1 trade in stead of all of them at the TP level.
Pretty instructional, thanks for the effort
  • #327
  • May 31, 2008 10:54am May 31, 2008 10:54am
I see almost no one is posting here anymore so I thought I would write some last thoughts.

I have tried out one more formula for use with AZAMs EA and this time I used the previous days high and low for my entrance points. If price breaks yesterdays high plus the spread I entered long. If it broke low plus the spread I shorted. If it is Monday make sure you are using last Fridays high and low and not the couple hours from Sunday night. If there was a holiday I used the previous days high and low. Backtesting is not viable for testing this theory since you want to close out your trades everyday because you will get new highs/lows every day. Once I saw a good profit I would close out all trades and be done for the day. Basically you are Martingaling the breakout.

The 1 week I have tested this shows a great deal of promise. The biggest asset is it uses the least amount of Margin of all the systems I have tried over the last 2 years. For two days I successfully traded 15 pairs on 250 dollars live. The most amount of margin it ever used was about 50 dollars. One day I made over 20 dollars and the other 43 dollars using pennies. Last Friday almost no pair broke its previous high or low so I lost a whole .23 cents. The only thing you have to watch out for is if it peeks over the line and then goes back in the opposite direction. For example if it breaks the high and then goes south below the low. That is the one bad trade. I would close those out. I have tried tp 100 step 30: tp 50 step 20 and tp 25 step 10. the tp 25 step 10 is the most profitable but needs to be watched in case it peeks over the line and reverses. The 50-20 worked out nice and covered everything that happened. The 100-30 never got into trouble or even got close to getting into trouble but it didnt make that much money either. Slow but steady I guess.

Only three times did any currency go to level 7. I closed two of them out and the other reversed and took profit. Anyway, good luck, I am not entering this months contest. I am going to concentrate on making money this month and using what I have learned. Thank you all for your input and I will check in if I find out anything new.

Bob
  • #328
  • May 31, 2008 11:04am May 31, 2008 11:04am
nanning: i am following the thread for sure. don't let it die thanks for all your effort!
  • #329
  • Edited 11:09pm May 31, 2008 10:54pm | Edited 11:09pm
Quoting bmwboyee
nanning: i am following the thread for sure. don't let it die thanks for all your effort!
I am following it for sure, as well.

BTW nanningbob, I especially appreciated your thoughts & observations on death trade-avoidance. And your ea + breakout research is also interesting, thanks for that
  • #330
  • May 31, 2008 11:15pm May 31, 2008 11:15pm
i watch this thread too, for what it's worth
  • #331
  • Jun 1, 2008 1:14am Jun 1, 2008 1:14am
Is this strategy based on Martingale .... I'm a Martingale fan ..
  • #332
  • Edited 2:12am Jun 1, 2008 2:03am | Edited 2:12am
Quoting Technical
I am following it for sure, as well.

BTW nanningbob, I especially appreciated your thoughts & observations on death trade-avoidance. And your ea + breakout research is also interesting, thanks for that
Thanks for all the encouragement. I need some programming help for the new breakout theory. If price breaks out above the high, the high usually becomes the new support or if the price breaks out below the low, the low becomes the new resistance. I have some programming skills but I have not been able to program a new type of stop loss. The stop loss is not based on pip distance but on a distance from the yesterdays high or low.

For example if yesterdays high is 96.9600 and yesterdays low is 96.9400 it breaks and enters, price may come back below and head south. I need a stop loss based on this idea, for example: yesterdays high -50 pips close trade if a buy(or close trade at 96.9550) or yesterdays low +50 pips if it is a sell(or close trade at 96.9450). This would prevent a whiplash that sometimes happens at newstimes. If you close a trade between yesterdays high or low, the program would not enter again until it goes above or below yesterdays high or low. If price stays above the high or the low this will keep the martingale in effect and it will keep making profit for you all day. If price breaks above the high and reverses and goes past the low, this stop loss would prevent a death trade and it would reenter in the right direction after it broke the low. I had one currency do this last week and I am sure it will happen again. If I am not at my computer I would like some protection. The standard stop loss does not work well with a martingale system.

Anyone have any idea how this could be coded?? I am having trouble making it work.

Bob
  • #333
  • Jun 1, 2008 10:48am Jun 1, 2008 10:48am
I´m also a Nanning ideas fan! And i keep two eyes at this thread. Maybe i need more time to forex trading to test and improve new ways to make money.

I hope someone with good skills can make this change at EA.

Best Regards,
Numeral

Quoting nanningbob
Thanks for all the encouragement. I need some programming help for the new breakout theory. If price breaks out above the high, the high usually becomes the new support or if the price breaks out below the low, the low becomes the new resistance. I have some programming skills but I have not been able to program a new type of stop loss. The stop loss is not based on pip distance but on a distance from the yesterdays high or low.

For example if yesterdays high is 96.9600 and yesterdays low is 96.9400 it breaks and enters, price may come back below and head south. I need a stop loss based on this idea, for example: yesterdays high -50 pips close trade if a buy(or close trade at 96.9550) or yesterdays low +50 pips if it is a sell(or close trade at 96.9450). This would prevent a whiplash that sometimes happens at newstimes. If you close a trade between yesterdays high or low, the program would not enter again until it goes above or below yesterdays high or low. If price stays above the high or the low this will keep the martingale in effect and it will keep making profit for you all day. If price breaks above the high and reverses and goes past the low, this stop loss would prevent a death trade and it would reenter in the right direction after it broke the low. I had one currency do this last week and I am sure it will happen again. If I am not at my computer I would like some protection. The standard stop loss does not work well with a martingale system.

Anyone have any idea how this could be coded?? I am having trouble making it work.

Bob
  • #334
  • Jun 1, 2008 11:25am Jun 1, 2008 11:25am
Quoting Schminner
Is this strategy based on Martingale .... I'm a Martingale fan ..
Oh so you mean you enjoy going broke?
  • #335
  • Jun 1, 2008 7:53pm Jun 1, 2008 7:53pm
Actually I am calling this a modified martingale approach.

In response to going broke, if you have been following this thread I am proving you can trade a modified system and not go broke. The key to winning in martingale trading is knowing price has gone outside of range and getting out. That way you dont lose your account. It is just a different form of money management which some traders dont understand. I have proven you can trade with live demo accounts using 3000 dollars and at the rate the 100/40 is going double your money every 3 months. I also have a 25/10 that worked on 3 of the slowest moving currencies. 50/20 on medium moving currencies. If it was a live account I could take out my original 3000 at this point and trade on my 2200, well 2500 profit now. People who have gotten accounts wiped out simply didnt understand or know how to use a martingale. I think if you follow this thread you can see it can be traded successfully. The only part I have not proven yet is how to trade using it on a micro account with about 2-300 dollars. I think my trading off the previous days high/low may solve that problem especially if I can get the coding for a stop loss that operates only below the high or above the low. I am excited about that prospect.
  • #336
  • Edited 5:36pm Jun 2, 2008 5:29pm | Edited 5:36pm
OK guys. I have seen enough in my testing. Using a martingale playing off yesterday's highs and lows is the way to go. I have a live account with only 200 dollars in it. I played with pennies on 15 accounts using this and my results were I made 3.92, you go yeah big deal. Well, if I had a stop loss that stopped the peekers (goes above the high or low for a moment and then reversing) I would have made over 40.00. Here is a picture of the chart for the day. If I can get a stop loss that works off yesterday's High/low I think we got it guys. Notice the chart below. I had two trades that peeked over the high and then went back down. If it hits the newly designed stop loss you wont see those two big dips. I tried for 2 hours yesterday trying to design one but couldn't make it work. Does anyone out there know how to do one????

Bob
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  • #337
  • Edited 7:57pm Jun 2, 2008 5:46pm | Edited 7:57pm
Here is a picture of a peeker. This is the trade that killed me yesterday. Notice this currency peeked twice. Eliminating this currency pair would not be a solution because all currencies will eventually do this on any given day. Notice there were two time periods it went above the high (orange line) Also notice it almost went below the low. That would be my definition of a death trade in this formula. Go above the high and then go below the low. It did not do that but it shows you what I mean.
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  • #338
  • Jun 5, 2008 8:10am Jun 5, 2008 8:10am
Here is more results of my 100+40 EA now into its 3rd month. Nice steady growth. This is live action not backtesting.
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  • #339
  • Jun 5, 2008 10:51am Jun 5, 2008 10:51am
Quoting nanningbob
Here is more results of my 100+40 EA now into its 3rd month. Nice steady growth. This is live action not backtesting.
Interesting!
  • #340
  • Jun 8, 2008 11:32pm Jun 8, 2008 11:32pm
Dear Sir, anyone can share to me how to open the Firday trade?
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